First quarter highlights
- Revenue increased by 2.9 per cent to MSEK 2,232 (2,169). Organic growth was -2.5 per cent.
- Gross margin was 40.9 per cent (41.1).
- Adjusted EBITA decreased to MSEK 74 (84), corresponding to an adjusted EBITA margin of 3.3 per cent (3.9).
- Operating profit decreased to MSEK 37 (65) and the operating margin was 1.7 per cent (3.0). Operating profit was charged with items affecting comparability of MSEK -19 (-4).
- Profit amounted to MSEK 17 (23).
- Earnings per share amounted to SEK 0.34¹ SEK (0.46¹).
- Cash flow from operating activities amounted to MSEK -38 (128).
1) Before and after dilution.
Significant events during the first quarter
- On 5 February 2025, Alligo completed the acquisition of 100 per cent of the shares in Svenska Batterilagret AB. Batterilagret is a leading specialist in batteries and battery accessories in Sweden. The company generates annual revenue of approximately MSEK 275 and has 90 employees.
- The first quarter saw the launch of Alligo ReCare – a full-service solution for workwear that includes clothing, laundry, repairs, reuse and recycling.
- Further cost-cutting measures were implemented in the first quarter, saving over MSEK 100, which will have a gradual effect from mid-year.
Events after the end of the period
- No significant events have occurred since the end of the period.
Comments from the CEO
”In the first quarter of 2025, we have continued to pursue sales and product initiatives where we see potential, while at the same time balancing investments with good cost control.”
“During the quarter, for example, we launched ReCare, our full-service solution for workwear, in Sweden… ReCare opens the way for important new sales opportunities and it is pleasing to see that the service has been well received by those customers who have trialled it.”
“As we continue to await the overdue upturn in the market, we have implemented further cost reductions during the first quarter. These measures will have a gradual effect from mid-year 2025 onwards.”
“Sales are now our single most important focus during 2025. In order to achieve even greater reach with our offering to new and existing customers, we are pursuing new sales and marketing initiatives.”
Presentation of the interim report for the first quarter 2025
Alligo publishes its interim report for the first quarter on Friday, 25 April 2025, at 08:00 a.m. CEST.
In conjunction with this, Alligo is pleased to issue this invitation to a webcast conference call in which
Group President & CEO Clein Johansson Ullenvik and CFO Irene Wisenborn Bellander will present the report and answer any subsequent questions. The presentation will be held in English.
Date and time: Friday, 25 April at 11:00 a.m. CEST
Web link: https://www.alligo.com/en/report/q1-2025/
Telephone conference: https://register-conf.media-server.com/register/BI8f1ad44c9a4f47cf8ffda0518c1872d9
To participate in the conference call, you need to register via the link above before the conference starts. When you register, you will receive a phone number and a personal code.
Contact information:
Clein Johansson Ullenvik, President & CEO, phone: +46 70 558 84 17, e-mail: clein.ullenvik@alligo.com
Irene Wisenborn Bellander, CFO, phone: +46 72 452 60 40, e-mail: irene.bellander@alligo.com
This information is information that Alligo AB (publ) is obliged to publish under the EU Market Abuse Regulation.The information was submitted for publication through the agency of the Chief Executive Officer on 25 April 2025 at 08:00 CEST
About Alligo AB
Alligo is a leading player in workwear, personal protection, tools and consumables in the Nordics. Sales mainly take place through the concept brands Swedol in Sweden and Tools in Norway and Finland, via stores, field sales and telesales, digital sales and on-site service. Alligo also has non-integrated companies in selected product and technology areas, such as product media, welding and battery which operate stores under their own brands. The group has around 2,500 employees and a turnover of around SEK 9.3 billion per year. Alligo AB (publ) is listed on Nasdaq Stockholm. Read more at alligo.com
Key figures
| Group | 2025 JAN–MAR |
2024 JAN–MAR |
31/03/2025 12 months to |
2024 JAN–DEC |
| Revenue, MSEK | 2,232 | 2,169 | 9,396 | 9,333 |
| Gross profit, MSEK | 913 | 892 | 3,823 | 3,802 |
| Gross margin, % | 40.9 | 41.1 | 40.7 | 40.7 |
| Operating profit, MSEK | 37 | 65 | 477 | 505 |
| Operating margin, % | 1.7 | 3.0 | 5.1 | 5.4 |
| Adjusted EBITA, MSEK | 74 | 84 | 591 | 601 |
| Adjusted EBITA margin, % | 3.3 | 3.9 | 6.3 | 6.4 |
| Return on equity, % | 7 | 8 | ||
| Equity per share1, SEK | 72.88 | 73.17 | 72.88 | 74.28 |
| Equity/assets ratio, % | 38 | 40 | 38 | 38 |
| 1) Before and after dilution. | ||||
| 2) Refers to equity attributable to parent company shareholders. | ||||
Message from the CEO
Clein Johansson Ullenvik, Group President and CEO
Sales are now our single most important focus during 2025. In order to achieve even greater reach with our offering to new and existing customers, we are pursuing new sales and marketing initiatives.
In the first quarter of 2025, we have continued to pursue sales and product initiatives where we see potential, while at the same time balancing investments with good cost control. During the quarter, for example, we launched ReCare, our full-service solution for workwear, in Sweden. The service includes clothing, laundry, repairs, reuse and recycling. ReCare opens the way for important new sales opportunities and it is pleasing to see that the service has been well received by those customers who have trialled it. The service has good potential and we hope to see a steady growth in volume over time. The plan is to launch ReCare in Norway and Finland at the end of 2025.
Alligo’s development during the first quarter
The year 2025 began with a continued weak but stable trend for sales and profits. External turbulence, including a trade war and tariffs, has not yet had any direct impact on Alligo.
Revenue increased by 2.9 per cent to MSEK 2,232 (2,169) in the first quarter. Sales increased by 7.8 per cent through acquisitions, while organic growth was negative at -2.5 per cent.
The weak economy remained the single biggest factor impacting the sales trend. One less trading day and currency effects also had a negative impact. There were more positive signs from the market during the quarter, but these have not yet translated into sales.
The organic sales trend was weakest in Sweden, while Norway continued to benefit from the oil and gas market. Finland saw an improvement compared with a weak first quarter in 2024.
Adjusted EBITA for the quarter amounted to MSEK 74 (84) and the adjusted EBITA margin was 3.3 per cent (3.9). The decline in profit is the result of weaker demand in the integrated Swedol and Tools business, as well as pressure on margins in Norway. Acquisitions and cost adjustments made had a mitigating effect.
In Sweden, the negative mix effect from 2024 reversed, as the reduction in sales to small and medium-sized companies slowed. Instead larger industrial customers accounted for a greater proportion of the reduction. In Norway, sales were largely driven by the oil and gas market, which has a lower gross margin than other industry segments. In Finland, the profitability of the Tools business remained weak.
Cash flow from operating activities for the quarter totalled MSEK -38 (128). The weaker cash flow is mainly the result of temporary effects from increased stock levels and investments in own brands, as well as invoicing challenges in Norway in connection with the launch of a new enterprise resource planning (ERP) system.
Review in Finland
To reverse the trend and achieve improved profitability in Finland, an efficiency project was launched in the fourth quarter of 2024. This work is continuing and has included the closure of three stores to reduce the cost base. We are carefully examining all the possible options to ultimately strengthen Alligo’s long-term competitiveness and profitability in the country.
Cost reductions
Early in the recession, we took responsible steps to adapt the cost structure. We have reduced costs without jeopardising the scalable platform we have built up over time and Alligo is ready to take advantage of any improvement in the economy. As we continue to await the overdue upturn in the market, we have implemented further cost reductions during the first quarter. These measures will have a gradual effect from mid-year 2025 onwards. Overall, the cost base is expected to reduce by around MSEK 100 once the full effect is achieved. The measures include the reorganisation of central functions and coordination of stores.
Focus on sales
In recent years, we have made many important investments to strengthen Alligo’s competitiveness. We can see that our acquisitions within new technology areas and the products and services we have launched are competitive on the market and that we have a stronger offering than ever before.
Clein Johansson Ullenvik Group President and CEOSales are now our single most important focus during 2025. In order to achieve even greater reach with our offering to new and existing customers, we are pursuing new sales and marketing initiatives. The knowledge and commitment that are Alligo’s distinguishing features are vital for achieving good sales results, particularly on a weaker market. At the same time, we are continuing to refine our offering and exploit new growth opportunities that we identify.