OCTOBER–DECEMBER 2025
·     Reported total revenue amounted to SEK 1,227.5 million (771.7), an increase of 59%.
·     Reported adjusted EBITDA amounted to SEK 216.4 million (98.7).
·     LFL total revenue amounted to SEK 1,236.4 million (1,240.8).
·     LFL adjusted EBITDA amounted to SEK 259.4 million (240.4), an increase of 8%.
·     This year-end report is the Group’s first financial report prepared in accordance with IFRS.
·     During the quarter, our position was further strengthened through three acquisitions, one in Sweden and two in Finland.
·     After the end of the reporting period, we announced ten additional acquisitions, six in Sweden, two in Finland, one in Norway and one in UK.
  
JANUARY–DECEMBER 2025
·     Reported total revenue amounted to SEK 3,063.3 million (1,618.5), an increase of 89%.
·     Reported adjusted EBITDA amounted to SEK 270.4 million (147.8).
·     LFL total revenue amounted to SEK 3,518.8 million (3,482.2), an increase of 1%.
·     LFL adjusted EBITDA amounted to SEK 460.3 million (442.2), an increase of 4%.
·     Fourteen acquisitions were completed during the year.
·     During the period, additional bonds of SEK 400 million were issued.
·     Net debt amounted to SEK 2,252.5 million at the end of the period, corresponding to 4.89 times LFL adjusted EBITDA.
·     Under K3, net debt amounted to SEK 1,500.4 million, corresponding to 5.14 / 5.34 times LFL adjusted EBITDA with / without synergies.

Increased profit in cautious conditions
In 2025, demand remained subdued reflecting geopolitical uncertainty and a weaker global macroeconomic environment. Despite these challenges, we have navigated well, maintained strong commercial momentum, and increased our profits.
We intensified our sales efforts, expanded participation in tenders, and strengthened our focus on small and medium-sized customers. During the second half of the year, we secured several important wins by leveraging our position as a complete circular tire management partner. The business continues to demonstrate resilience and growing profits. LFL revenue grew 1% (incl. -1% FX effect) versus last year and adjusted EBITDA improved by 4%.
 
Commercial improvement and efficiencies
In Sweden, the market remained cautious and revenues were in line with previous year. Adjusted EBITDA grew by 9%, driven by targeted procurement initiatives combined with the structural transformation following the acquisition of Däckia. During the fourth quarter, we completed the integration, realized a part of the identified synergies within support functions, and closed underperforming workshops. Despite a weak Finnish economy, our operations in Finland delivered a strong commercial year. Revenue increased by 4% (incl. -3% FX impact), driven by our ability to attract new customers, maintain high customer satisfaction, and open new sites. However, the revenue growth did not translate into improved earnings, and EBITDA declined by 8% compared to previous year. Finland reached record profitability in H2 2024, partly driven by positive one-off effects related to the acquisition of Lapin Kumi. We are implementing initiatives to enhance profitability. The Polish market continues to be challenging, but our Polish operations performed well. External revenue increased by 2% (incl. -3% FX impact). Our efficiency program shows material effect and EBITDA grew 11% compared to previous year. In Norway, the positive trend continued. Revenue increased by 8% and EBITDA rose significantly, driven by strong commercial activity operational leverage on our fixed cost base.

Disciplined expansion
M&A activity remained high throughout the year, with three acquisitions completed in the fourth quarter. Additional transactions were postponed to early 2026 to ensure full operational focus during the winter peak season. After the year end, we have completed nine bolt-on acquisitions within our existing markets.
In February 2026, we also entered the UK market through the acquisition of Tyrefix, a leading provider of on-site tire services for heavy vehicles across the UK. The acquisition provides a strong platform for continued growth, with high customer satisfaction in its niche, strong profitability, and a dedicated management team.
 
Strengthened financial leadership
The Group is growing at a very rapid pace, while operational demands continue to increase. Our Swedish operations have expanded significantly - growing fivefold in two years - while we continue to expand internationally. To support this development, Monica Ljung will take on the role as CFO Sweden, focusing on strengthening our largest market. At the same time, we are pleased to welcome Jonas Söderkvist as our new Group CFO. Jonas joins us with long experience from other growth and acquisition journeys at Envirotainer, Ramirent, and Nordstjernan, bringing valuable expertise in building effective financial steering on European level.
 
Wrapping 2025 and looking ahead to 2026
2025 has been another transformative year for Citira. I would like to extend a warm and sincere thank you to all employees for your strong contributions. Reported revenue doubled from SEK 1.6 bn to SEK 3.1 bn (SEK 3.5 bn LFL) – clear proof of what we have achieved together. We provided service and tires to more than 52 000 customers across 4 markets. We retreaded 180 000 tires and enabled our customers to avoid more than 54 000 tons in CO2 emissions – a clear evidence of how we are transforming the industry in a sustainable direction together. As we enter 2026, we do so with strong confidence in the future. Market growth is expected to remain stable, but our activity level is high. We are driving commercial initiatives, developing the business, transforming our cost base, and continuing to expand our service operations – both in existing and new markets through M&A. We remain committed to building a new customer centric challenger in our industry.

David Boman
CEO

For further information, please contact:
David Boman, CEO, +46 70 508 84 99
Monica Ljung, CFO, +46 708 74 85 20

Forward-looking information
Some statements in this report are forward-looking and the actual outcome may be significantly different. In addition to the factors specifically highlighted, other factors may have a material impact on the actual outcome. Such factors include, but are not limited to, the general economic situation, changes in exchange rates and interest rates, political developments, the impact of competing products and their prices and disruptions in the supply of materials.

Financial calendar
Annual Report 2025, week 17, 2026
Interim Report January – March 2026, 13 May 2026
Interim Report January – June 2026, 13 August 2026
Interim Report January – September 2026, 12 November 2026
Year-end Report 2026, 25 February 2027

About Citira
Citira is a leading, brand-independent platform for tire services, primarily focused on commercial vehicles serving trucks, buses and heavy equipment operators. We have more than 1,000 employees across Sweden, Finland, Norway and Poland. Our operations include 114 own service stations, 39 affiliated service stations and 5 retreading sites.

More information about Citira is available at www.citira.com