• Net sales amounted to SEK 1,610 (1,657) million.
• Growth was -3 percent, of which organic growth amounted to -9 percent.
• EBITA increased by 1 percent to SEK 145 (143) million.
• The EBITA margin amounted to SEK 9.0 (8.7) percent.
• Cash flow from operating activities amounted to SEK -78 (-11) million.
• Earnings per share, basic and diluted, were SEK 1.15 (1.04).
• In May, the German company, Wagner Straßen-, Tief- & Rohrleitungsbau GmbH, was acquired, with net sales in 2024 of EUR 11 million (SEK 120 million).
• In May, a bond issue was carried out for the first time, amounting to SEK 500 million.

CEO comments

Net sales over the last 12-month period were unchanged and amounted to SEK 6,145 (6,125) million. Profitability, expressed as EBITA margin, reached 7.8 (8.5) percent. The outcome was negatively impacted by effects from the mild winter, and a continued challenging market. This was partly offset by a good contribution from our newly acquired companies. We continue to maintain a strong focus on margin enhancement measures within our subsidiaries. The margin expansion activities in segment Sweden are on track and will make a positive impact during the year.

Activity levels increased as the quarter progressed
Net sales amounted to SEK 1,610 (1,657) million in the second quarter, corresponding to growth of -3 percent, of which organic growth amounted to -9 percent and newly acquired companies contributed with 8 percent. EBITA amounted to SEK 145 (143) million in the second quarter, corresponding to an EBITA margin of 9.0 (8.7) percent. The financial results in segments Sweden and Norway were negatively impacted, which is primarily attributable to the residual effects of the mild winter at the start of the quarter. There was a gradual increase in activity throughout the quarter. Segment Other Europe delivered a positive development, with clear improvement from our operations in Finland in particular.
Cash flow from operating activities amounted to SEK -78 (-11) million. The lower level of activity at the beginning of the year negatively impacted cash flow in the second quarter. Indebtedness, expressed as net debt in relation to EBITDA pro-forma RTM amounted to 2.9 (2.7) times.

Diversified financing
We executed our first issue of bonds during the quarter, which strengthening our cash position by SEK 500 million. This has broadened our financing base while also providing us with additional flexibility and support our continued growth – with the acquisition of high-quality businesses remaining a key strategic priority.

Central Europe – an increasingly important market for us
June marks the second anniversary of our entry into the German market when we acquired Schmitt & Scalzo in Hessen. Since then, an additional 10 companies in Germany and Switzerland have become part of our Group – something we take great pride in. Our regional office in Munich provides a strong foundation and we have a solid reputation in the market. Growth has followed our set plan and our success stems from goal-oriented, structured efforts. We welcomed Wagner Straßen-, Tief- & Rohrleitungsbau GmbH to the Group during the quarter. The company offers earthworks and landscaping services to a wide spectrum of customers in the Berlin area of Germany. Subsequent to the end of the quarter, we also welcomed Tessmer & Sohn Straßenbaugesellschaft mbH to the Group. The company has a full-range offering of services in landscaping and earthworks for customers in the Hanover region of Germany. We warmly welcome them both and I look forward to following their progress with us in the years ahead.

Our stated ambition has been to acquire 8–10 companies during 2025, based on anticipated acquired EBITA of SEK 80–100 million. Already with the first two acquisitions of the year, we are now at the halfway point with this year’s EBITA ambition, and are thus maintaining it. In light of the larger size of the companies, the number of acquisitions may be fewer.

Presentation of the report:

Green Landscaping Group CEO Johan Nordström and CFO Marcus Holmström will present the report in a teleconference/audiocast on 18 July 2025 at 14:00 CEST. The presentation will be held in English.

If you would like to participate in the webcast, please visit the link below.
https://green-landscaping-group.events.inderes.com/q2-report-2025

If you would like to participate in the teleconference, you will need to register via the link below. Once you have registered, you will receive the phone number and a conference ID for logging in. There are opportunities for asking questions via the teleconference.
https://conference.inderes.com/teleconference/?id=5006402