Swedencare posts 11% revenue growth as European sales surge

Malmö-headquartered pet health product manufacturer Swedencare reported net revenue growth of 11% in Q3 2025 to SEK 712.9 million ($65M/€61M). This is up from SEK 641 million ($58M/€55M) a year ago.

Organic and currency-adjusted growth during the quarter amounted to 15%, according to the latest company earnings. 

The company’s profit after tax dropped to SEK 22.2 million ($2M/€1.9M) from SEK 24 million ($2.2M/€2M) in Q3 2024. Earnings before interest, taxes, depreciation and amortization (EBITDA) grew by 14% to SEK 154.9 million ($14M/€13M). 

The European segment posted the highest organic growth at 19%, followed by North America at 18% and the production segment at 3%.

9M 2025

For the first 9 months of FY2025, Swedencare saw a mixed performance with net revenue rising by 7% year-on-year (YoY) to SEK 2 billion ($182M/€170M) from SEK 1.86 billion ($173M/€162M). 

Profit after tax dropped by 47.9% to SEK 39.1 million ($3.6M/€3.3M). From January to September 2024, it hit SEK 75.1 million ($6.8M/€6.4M). 

For this period, the European segment also posted the highest organic growth at 16%, followed by North America at 9% and the production segment at 3%.

Performance in North America…

In Q3 2025, the North American segment accounted for 59% of total net revenue, down from 61% in the corresponding period last year. Sales of the companies in this segment amounted to SEK 421.7 million ($38M/€36M), rising 8% from SEK 389.4 million ($35M/€33M) last year.

This growth was primarily driven by the Amazon sales from its biggest subsidiary, NaturVet, which has been managed internally since April. During the same period, NaturVet also launched in Big Box retail, which drove strong sales in the dental product category.

For 9M 2025, sales in the segment reached SEK 1.2 billion ($109M/€102M), up 4% YoY, mainly due to the growth in Q3. Earlier this year, sales were temporarily affected by the transition of the NaturVet Amazon account in-house.

Notably, the segment accounted for 61% of total group revenue, compared to 63% during 9M 2024, reflecting stronger growth and acquisitions across other segments.

…and in Europe

The European segment, which made up 23% of the total revenue, contributed SEK 162.6 million ($15M/€14M) in sales in Q3, an increase of 39% YoY. 

This growth was mainly attributable to the acquired growth from Summit, a UK veterinary pharmaceuticals company, which contributed 16.8% or SEK 27.4 million ($2.5M/€2.3M) to the total segment sales.

The acquisition, which was completed on 1 April 2025, also increased the segment’s net revenue share during the period by 5 percentage points to 23%.

Among Swedencare’s UK subsidiaries, Amazon sales and its veterinary channel drove its quarterly performance, along with the Nordic region, which grew 25% during the quarter.

“The Nordics and the UK continue to pull up our average, even though some market players in the UK have indicated a weaker market,” says Håkan Lagerberg, CEO of Swedencare. 

These growth drivers also brought 9M 2025 net sales to increase by 30% YoY to SEK 419.8 million ($38M/€36M). For this period, the net revenue share of the European segment increased to 21% from 17% last year.

Outlook

Looking ahead, Swedencare aims to expand and capitalize on its FDMC (Food, Drug, Mass & Club) channel. Recent efforts include expanding its NaturVet brand into over 1,400 Walmart stores and over 1,100 CVS stores across the United States.

“Moving forward, we will continue to evaluate new opportunities to bring our trusted supplements closer to pet parents – in every channel where they choose to shop,” the company says. 

“For the year, our organic growth amounts to 9%, and as previously communicated, I expect to deliver double-digit growth when we sum up the full year 2025,” concludes Lagerberg.