Interim Report First Quarter 2025

First Quarter (Jan–March 2025)

• Net sales amounted to TSEK 220,383 (159,001), which is an increase of 38.6 % compared to the same period last year. 
• The gross margin amounted to 51.6 % (51.9).
• Operating profit before depreciation (EBITDA) amounted to TSEK 77,140 (45,722), which corresponds to an operating margin before depreciation of 35.0 % (28.8).
• Operating profit (EBIT) amounted to TSEK 57,100 (29,524), which corresponds to an operating margin of 25.9 % (18.6).
• Earnings per share before dilution amounted to SEK 4.02 (2.03).

(Comparative figures in parentheses refer to the corresponding period in the previous year.)

Comments from the CEO

We see a very strong organic growth. It is driven by a clear increase in the installation rate of our established products, meaning those that have been on the market for a longer period and where growth reflects rising underlying demand. At the same time, new products are contributing even more significantly to our growth and continue to strengthen our position in both Sweden and Norway. The development in Norway is particularly positive this quarter, where the successful launch of our TRM-01 thermostat has reached a wide customer base and led to both an increased installation rate and higher revenue.

Profitability continues to strengthen as we maintain flat cost levels in relation to revenue growth, fully in line with our communicated strategy. Other markets are also showing continued stable development.

Although the global environment remains uncertain, particularly due to ongoing trade tensions between the United States and other countries, we currently see no direct impact on our business. We have no sales exposure to the U.S. market and only very limited purchasing exposure. As a result, we are not affected by potential tariffs on components manufactured in the U.S., as the majority of our purchases consist of components originating from other countries. At the same time, we benefit from the weaker U.S. dollar, as a significant portion of our purchases is made in USD. This provides a potential cost advantage rather than a risk. We continue to monitor the situation closely.

In summary, the business is developing very positively, with strong organic growth and increasing profitability. I would like to extend my sincere thanks to the team for an excellent quarter.

Babak Esfahani

CEO

For further information

Phone: +46 (0) 10 207 89 01

E-mail: investor@plejd.com

About the company

Plejd is a leading Nordic supplier of smart lighting and other smart products. By focusing on the user experience, Plejd makes smart solutions easy and available to everyone.