Q4 2025 Cdon AB Earnings Call Transcript

Feb 13, 2026 / 01:00 PM GMT

Release Date Price: €6.46 (-0.92%)

Transcript

Key Points

Positve

Cdon AB (CDOAF) reported a strong Q4 with a 15% growth rate, contributing to a full-year growth of 9%.
The company achieved a significant improvement in profitability, with full-year EBITDA increasing by 26 million SEK to 31 million SEK.
Cdon AB (CDOAF) operates an asset-light and scalable business model, which has proven effective in generating significant EBITDA growth.
The company is implementing growth initiatives, including retail media and Nordic expansion, which are expected to drive future growth.
Cdon AB (CDOAF) has a stable cash position with a balance of 150 million SEK, providing a solid foundation for executing planned initiatives.

Negative

Increased marketing costs have impacted gross profit growth, with a 9% increase in Q4 despite a 15% sales growth.
The company remains too dependent on paid traffic, which has led to higher marketing costs.
There is a lack of finalized agreements with larger merchants, which has delayed expected contributions to growth.
The company anticipates a front-loaded investment year in 2026, which will weigh on near-term profitability.
Cdon AB (CDOAF) has not yet fully capitalized on retail media opportunities, indicating underutilization of potential revenue streams.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CDONAB.ST - Cdon AB
Q4 2025 Cdon AB Earnings Call
Feb 13, 2026 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon and welcome to Cerion's Q4 presentation, an update on growth initiatives. We have with us CEO Frerik Nurberry and CEO Karl Andersjo. Welcome gentlemen.

Thank you. And you will present the 4th quarter and provide an update on the growth initiatives as well as answer questions during the Q&A session. Questions can be submitted live and will be addressed during the session. With that said, I hand over the word to you.

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Unidentified_2 [2]
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Thank you.

I'm here today as usual with our CFO Carl, and he will join us later on in the call.

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