Growth in agency revenue and significant improvement in profitability despite a cautious market

 Second quarter April 1–June 30, Group
 

• Net sales for the period decreased to SEK 70,496 thousand (SEK 76,849 thousand).
• Gross profit (Agency income) increased to SEK 23,149 thousand (SEK 18,642 thousand), gross profit margin increased to 32,8% (24,2%).
• Operating profit before depreciation, EBITDA, increased to SEK 6,590 thousand (SEK 3,366 thousand).
• The EBITDA margin for the period increased to 9,3% (4,4%).
• Profit after net financial items for the period amounted to SEK 4,638 thousand (SEK 1,532 thousand).
• Net earnings per share after tax amounted to SEK 0,27 (SEK 0,10).
• Cash flow from operating activities amounted to SEK -2,205 thousand (SEK 5,455 thousand).
• Equity as of June 30, 2025 amounted to SEK 53,557 thousand (SEK 52,661 thousand).
• Cash and cash equivalents as of June 30, 2025 amounted to SEK 9,023 thousand (SEK 6,277 thousand).

Period 1 January–30 June, Group

• Net sales for the period decreased to SEK 70,496 thousand (SEK 76,849 thousand).
• Gross profit (Agency income) increased to SEK 23,149 thousand (SEK 18,642 thousand), gross profit margin increased to 28,5% (24,7%).
• Operating profit before depreciation, EBITDA, increased to SEK 6,590 thousand (SEK 3,366 thousand).
• The EBITDA margin for the period increased to 6,0% (3,5%).
• Profit after net financial items for the period amounted to SEK 4,638 thousand (SEK 1,532 thousand).
• Net earnings per share after tax amounted to SEK 0,31 (SEK 0,13).
• Cash flow from operating activities amounted to SEK -1,146 thousand (SEK 775 thousand).

Important events April 1–June 30, 2025

• Nowa Kommunikation wins assignment for the Swedish Election Authority with an estimated total sales value of SEK 22 million.
• Thinc Collective has signed a collaboration agreement with a Swedish hotel chain to support it in its continued brand development and communication.
• The City of Gothenburg signs a framework agreement with an estimated sales value of SEK 35 million for a media agency and ranks Nowa Kommunikation as number one.
   

Important events after the end of the period

• The City of Stockholm signs a framework agreement with BANG Agency regarding meeting and event services with a maximum sales value of SEK 130 million during the agreement period.
• Thinc Collective releases press release about new financial targets for the period 2025–2029.

Seasonal variations

Sales vary across quarters. Subsidiaries' sales fluctuate throughout the year in line with total media and communications investments in the market, with historically the second and fourth quarters being the strongest periods.

CEO has the floor
 

• EBITDA for the period increased by 95% to SEK 6,6 million (3,4).
• Strong turnaround for the group company BANG Agency.
• Digital products provide exchange.

During the quarter, sales amounted to SEK 70 million (77), a decrease of 9%, agency income (gross profit) amounted to SEK 23,1 million (18,6) and EBITDA increased to SEK 6,6 million (3,4). The EBITDA margin thus increased to 9,3% from 4,4% the previous year.

The second quarter's results came in stronger than budget, largely because the turnaround of several companies, led by BANG, fell into place earlier than expected. For Thinc Collective's and the industry's season, it is normal that Q1 is average, Q2 a little stronger than Q1, Q3 weak and Q4 very strong. But Q2 was even stronger than we ourselves had hoped.

The fact that Thinc is getting conversions even faster and better than before is a very good sign of our strength and that continuity in sales and collaboration produces results.

The Market and the Thinc Collective

The Group is pleased that we regularly gain new large customers, but overall the large increase from the previous year consists of two parts; BANG's fantastic turnaround and that all the Group's companies each contributed a small increase. In summary, it is a lot about purposeful work with savings, sound business acumen and solid sales work. With rapid growth comes growth challenges and together we have step by step untied the knots to be able to deliver a substantial profit today.

The market is somewhat slower than Thinc shows (according to IRM and Swedish Media Agencies) and not only sales work and savings are behind Thinc's growth. Customers are increasingly demanding our comprehensive offering and additional sales account for a large part of the increased profit. We are broadening our offering to existing customers and in addition to increased customer satisfaction, it provides a good return on time spent.

Our immediate future

We have launched our fully developed own solutions in digital and AI-based technology and in the test phase we have already seen good results in the form of assignments for our customers. The services AI-SEO (search engine optimization), ABM (account-based-marketing) and data prospecting help customers with efficiency and take us into new areas with customers. These areas will develop during the year and increasingly become part of Thinc's offering and customer benefit.

The procurement team and BANG have recently won the city of Stockholm as a customer in events and we are awaiting news from a large number of procurements. We have moved into new premises in Gothenburg at the dynamic Masthuggskajen where we can grow and even better receive customers and partners with a large auditorium and our own studio.

We have had success in our global collaborations and are connecting with both customers and partners through this. I look forward to a great development for Thinc in the second half of the year with more new, exciting packaging.

Anders Wallqvist, CEO
Gothenburg in August 2025

This information is information that Thinc Collective AB is required to disclose pursuant to the EU Market Abuse Regulation (EU No 596/2014). The information was submitted, through the agency of the specified contact person, for publication on 2025-08-26 08:30 CET.