B3 Consulting Group
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B3 Consulting Group (B3) investor relations material

B3 Consulting Group Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary20 Feb, 2026

Executive summary

  • Revenue grew 7.1% to 1,209.1 MSEK in FY 2025, mainly from acquisitions; organic growth was negative at -12.6% including Poland.

  • EBITDA margin improved to 6.9% from 5.1% year-over-year; EBIT margin rose to 4.0% from 2.3%.

  • Profit after tax/net income dropped to 14.5 MSEK from 85.2 MSEK due to a one-time revaluation in 2024.

  • No dividend proposed for FY 2025, prioritizing financial flexibility and future growth.

  • New CEO Daniel Juhlin appointed in February 2026, bringing experience in consulting, digital transformation, and a focus on long-term value creation.

Financial highlights

  • Q4 2025 revenue declined 6.3% year-over-year to 314.9 MSEK; organic growth -14.1%, offset by Habberstad acquisition.

  • Q4 EBITDA rose to 26.8 MSEK (8.5% margin), up from 17.8 MSEK (5.3%).

  • Q4 EBIT was 17.2 MSEK (5.5% margin), up from 8.8 MSEK (2.6%), with a 1.5 MSEK one-off gain.

  • Cash flow from operations improved to 37.6 MSEK from -14.7 MSEK year-over-year.

  • Earnings per share after dilution: 1.20 SEK (reported), 0.63 SEK (adjusted for one-time effects).

Outlook and guidance

  • Gradual market recovery and margin improvement expected in 2026.

  • Higher utilization anticipated as projects restart and IT investments rebound.

  • Focus on organic growth through recruitment, start-ups, and acquisitions.

  • Key growth areas: Finance, Health, Industry/defence, AI, Cybersecurity, and new startups.

  • Previous goals of 1.5 billion SEK revenue and 10% EBIT margin by 2025 were not met due to market headwinds.

New financial targets: What drives 2026 communication?
Organic growth recovery strategy for 2026
B3 Norway Q4 EBIT margin: What caused the negative?
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Frequently asked questions

B3 Consulting Group AB provides IT and management consultancy services in Sweden. The company offers agile project management and organizational development services, as well as program and project management, concepting and analysis, system development and integration, testing, release administration, training and education, technical support and helpdesk, provision of personnel resources, and management and support of applications. It serves business areas of banking, insurance, pension funds, accounting, media houses, public sector institutions and authorities at the national level in the Nordic countries. The company was founded in 2003 and is based in Stockholm, Sweden.

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