Bifogade filer
Q4 Report 2025
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | Mid Cap Stockholm |
| Sektor | Handel & varor |
| Industri | Sällanköpsvaror |
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“We close the year with yet another strong quarter, achieving increased revenue, improved earnings and a robust cash flow that supports continued growth.”
Fourth Quarter
- Net sales amounted to SEK 557.4 million (537.3), an increase of 3.7 percent. Organic growth was 10 percent
- EBITA amounted to SEK 86.9 million (81.5), corresponding to a margin of 15.6 percent (15.2)
- EBIT amounted to SEK 83.4 million (77.5), corresponding to a margin of 15.0 percent (14.4)
- Profit before tax amounted to SEK 78.9 million (70.8)
- Earnings per share amounted to SEK 1.20 (0.94)
- Free cash flow amounted to SEK 157.4 million (107.4)
Full Year
- Net sales amounted to SEK 2,252.7 million (2,183.7), an increase of 3.2 percent. Organic growth was 6 percent
- EBITA amounted to SEK 343.5 million (312.2), corresponding to a margin of 15.2 percent (14.3)
- EBIT amounted to SEK 329.3 million (296.2), corresponding to a margin of 14.6 percent (13.6)
- Profit before tax amounted to SEK 282.7 million (228.9)
- Earnings per share amounted to SEK 4.07 (3.25)
- Free cash flow amounted to SEK 366.7 million (158.4)
- The Board of Directors proposes a dividend of SEK 2.00 (1.50)
Financial data | Oct-Dec 2025 | Oct-Dec 2024 | Jan-Dec 2025 | Jan-Dec 2024 |
| Net sales, SEK m | 557.4 | 537.3 | 2,252.7 | 2,183.7 |
| EBITDA, SEK m | 105.3 | 98.4 | 415.5 | 374.8 |
| EBITDA margin, % | 18.9 | 18.3 | 18.4 | 17.2 |
| EBITA, SEK m | 86.9 | 81.5 | 343.5 | 312.2 |
| EBITA margin, % | 15.6 | 15.2 | 15.2 | 14.3 |
| EBIT, SEK m | 83.4 | 77.5 | 329.3 | 296.2 |
| EBIT margin, % | 15.0 | 14.4 | 14.6 | 13.6 |
| Profit after tax, SEK m | 63.7 | 49.6 | 216.0 | 168.1 |
| Earnings per share, SEK | 1.20 | 0.94 | 4.07 | 3.25 |
| Free cash flow, SEK m | 157.4 | 107.4 | 366.7 | 158.4 |
CEO comments
10 percent organic growth with clear margin improvement
We close the year with yet another strong quarter, achieving increased revenue, improved earnings and a robust cash flow that supports continued growth.
The year has been characterized by challenging market conditions, where the Group’s geographical diversification has helped balance risks across different markets.
In 2025, we reached an important milestone with an EBITA margin exceeding our financial target of 15 percent for the full year and sales of SEK 2.25 billion. Organic growth amounted to 10 percent for the quarter and 6 percent for the full year. This development clearly reflects long-term, focused efforts across all areas of the business.
During the fourth quarter, net sales increased to SEK 557 million (537), corresponding to organic growth of 10 percent. EBITA rose to SEK 87 million (82), corresponding to an EBITA margin of 15.6 percent (15.2). The continued strong gross margin amounted to 47.2 percent (47.8), driven by an optimized product mix, effective pricing and operational discipline within our brand companies.
Free cash flow amounted to SEK 157 million (107). The positive cash flow further strengthens our financial position and provides continued capacity to invest in innovation, sustainability and sales to drive profitable growth.
That all segments report organic growth underlines the strength of our business model, as well as the entrepreneurship and local drive that characterize our brand companies. Overall, the quarter demonstrates strong profitability, high efficiency and solid operational execution in a market that continues to be marked by some uncertainty.
For the full year, sales reached a new record level of SEK 2.25 billion, corresponding to an increase of just over 3 percent compared with the previous year. Organic growth amounted to just over 6 percent, and our average growth over the past five years is 28 percent, exceeding our financial target. EBITA for the full year also reached a record level and amounted to SEK 344 million (312), corresponding to an EBITA margin of 15.2 percent (14.3).
Continued Positive Development in Our Brand Companies
We deliver solid organic growth across the Group’s key markets – the United Kingdom, the Netherlands and Sweden – where geographic diversification contributes to a balanced exposure to market risks. Performance for both the full year and the quarter demonstrates that all subsidiaries are well positioned in their respective markets.
Roper Rhodes continues its strong development and is assessed to be gaining market share in the UK, with organic growth of 6 per cent in the quarter and 7 per cent for the full year. Svedbergs reported an EBITA margin of just above 11 per cent, a very positive outcome, while Macro Design delivered its strongest quarterly result to date, achieving an EBITA margin exceeding 23 per cent.
In summary, 2025 closes with a well-executed fourth quarter, assessed market share gains, improved profitability and a strengthened cash flow, providing the Group with a solid foundation for continued profitable growth.
Positioned for Long-Term Development
The development during the year is the result of focused, long-term efforts within the Group’s brand companies. In recent years, significant improvements have been made in product offerings, efficiency and ways of working, strengthening the Group’s competitiveness and operational capabilities ahead of a future market recovery.
The Group continues to develop in line with its long-term strategy of combining locally anchored brands with decentralized leadership and Group-wide strengths. The decentralized model contributes to resilience, speed and customer proximity, while synergies are created in areas such as procurement, sustainability, digitalization and information security.
Business development is conducted consistently within each operation. Roper Rhodes continues to strengthen its market position, including growth in Ireland. Thebalux focuses on further developing the supply chain and production capacity in its factories. Svedbergs is well positioned following completed efficiency measures, while Macro Design and Cassøe have continued to develop their organizations and offerings during the year to meet a gradually improving market.
The Group’s shared values – Sustainable Business, Integrity, Collaboration, Customer Focus and Innovation – form a central foundation for how the business is led and how long-term value is created across the Group.
Sustainability Aligned with the Strategy
The Group’s sustainability efforts continued to develop during the year in line with established goals and plans. The Group’s science-based Net Zero targets have been approved by the Science Based Targets initiative (SBTi), and updated reduction plans are being progressively implemented.
Work on Environmental Product Declarations (EPDs) has continued in parallel with deepened collaboration with strategic suppliers on climate data and reduction plans to achieve the Group’s climate targets. During the year, several initiatives were also implemented to increase material efficiency and the share of recycled materials in production, contributing to reduced climate impact and a more resource-efficient value chain.
The year clearly demonstrates how sustainability targets are integrated into the business strategy and progressively contribute to strengthening the Group’s competitiveness and long-term value creation.
Outlook
We have a well-functioning operation with solid profitability, stable cash flow and organic growth, while underlying demand for our products remains intact. We look ahead to 2026 with confidence and an expectation of a gradual market improvement, while noting that uncertainty related to the geopolitical situation remains.
Finally, I would like to thank our shareholders and customers for their trust, as well as all employees who, through their commitment and efforts, contributed to making 2025 a successful year – thank you!