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Beskrivning
| Land | Schweiz |
|---|---|
| Lista | First North Stockholm |
| Sektor | Informationsteknik |
| Industri | Infrastruktur |
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Jan 1st - Dec 31st 2025
- Net sales amounted to EUR 17 756 thousand (EUR 15 782 thousand in 2024), representing an increase of 12.5 percent
- EBITDA of EUR 1 828 thousand (EUR 1 702) and EBITDA margin of 10.3 percent (10.8)
- EBIT of EUR 1 620 thousand (EUR 1 527) and EBIT margin of 9.1 percent (9.7)
- Net earnings after tax of EUR 862 thousand (EUR 605), an increase of 42% and EAT margin of 4.8 percent (3.8)
Important events during the year
- Ending restructuring phase and starting organic growth.
- Improving profitability to approximately EUR 1.83 million EBITDA and EUR 0.86 million net earnings.
- Laying groundwork for future growth through strategic investments in technology and people.
- Net debt further reduced and equity strengthened.
- Launch of "Vision 2030" Strategic Growth Plan in April, setting long-term financial targets including 16.8% CAGR (average annual revenue growth), 14.0% EBITDA margin, and zero net debt by 2030.
- Full-year revenues grew 12.5% to EUR 17.8 million - the first year of double-digit growth since the consolidation phase started.
- Pakistan established as the Group's main production base, delivering cost-efficient engineering capacity to European and American projects.
- Re-entry into the U.S. market through a new service contract with MasTec in May.
- Talkpool supported Digicel in restoring Jamaica's communications infrastructure following Hurricane Melissa.
- New Swedish Affiliated Company Talkpool AB launched in June to deliver advanced commu-nication solutions for the defence sector.
- Independent valuation by BDO put the market value of Talkpool's German subsidiary at approximately EUR 20.5 million.
- Americas remained Talkpool's largest market, with strong business momentum continuing throughout the year despite US dollar weakness.
- Partnership with Nokia USA on a 5G EME/MEP testing project announced in November.
Management Comments
In 2025, Talkpool ended its multi-year "reduce to the MAX" focus and started to grow. After years of minimizing all kinds of costs and risks, the company hired personnel and made first investments in line with a new Vision 2030. The new business has higher profit margins, but management expects temporary margin pressure as initial investments are required to generate more profitable business.
Talkpool has accelerated the ramp-up of its remote services. Building on the home-office model first introduced in Germany - where nearly all employees work remotely - the company is increa-singly delivering support from low-cost locations. This approach enables greater capacity at a significantly reduced cost base, while the integration of AI-powered tools in the remote hub further improves efficiency.
The first AI-powered technology solutions underwent trials and proof-of-concept testing during 2025. These solutions are bespoke by design: Talkpool develops each one to address a specific client need. Further trials are planned for 2026, with the most promising solutions moving towards commercialization in 2027-2028 and mass deployment from 2029.
Long-term 2030 targets of EUR 40 million in revenues and 14% EBITDA margin were published in April 2025, alongside a vision centered on AI-powered tech-nology. Organic growth accelerated throughout the year, reaching the 16.8% long-term growth target by year-end - ahead of expectations. This is particularly encouraging given that all growth was organic, that macroeconomic headwinds made expansion more challenging, and that investments typically take 6-12 months to translate into revenue. Near-term pressure on cash flow and margins is anticipated, but new business activity is expected to drive both to new levels within the next 12 months.
Currency headwinds in the first half of 2025 - with the US dollar weakening by 11% and the PKR (Pakistani Rupees) by 14% - reduced Talkpool's EUR-reported revenues. The parent company Talkpool AG under-went an extraordinary audit from April to August 2025, in which the valuation of the German subsidiary was increased to offset a reduction in the carrying value of the Pakistani asset. Independent valuer BDO assessed Talkpool's German subsidiary at EUR 20.5 million. The first phase of the options scheme delivered strong results. Share options increased 50-fold in value as the share price rose from EUR 0.445 in March 2024 to EUR 1.25 by mid-2025. The overall scheme runs until 2031.
Talkpool's Caribbean business continues to perform well, and several new revenue opportunities have emerged across the Americas. The German business remains a solid contributor, though at a moderating growth rate; German management is actively pursuing new client relationships to broaden its revenue base. Global challenges - including continued Russian aggression and broader geopolitical instability - have intensified. Talkpool's operations remained resilient throughout, underpinned by tight management discipline and a strong focus on cash generation. The benefits for shareholders, clients, and employees are becoming increasingly visible.
The Board of Directors performs regular risk assessments covering the Group's key risk areas, including geopolitical exposure, currency fluctuations, client concentra-tion, and liquidity. Appropriate mitigation measures are in place and monitored on an ongoing basis.
Financial Information
- Equity has improved by EUR 4.6 million from -EUR 2.5 million in 2021 to EUR 2.1 million in 2025
- Net Cash has improved by EUR 6.0 million, from -EUR 5.7 million in 2021 to reaching a positive position of EUR 0.3 million (Net Cash = Cash - interest-bearing liabilities) by the end of 2025.
- Profit Margins have remained stable, with a positive trend over the past 4 years. Profit margins were only slightly lower in 2025 compared to 2024 despite substantial investments in future growth.