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Calviks (CALVIK) investor relations material
Calviks Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary20 Nov, 2025
Executive summary
Achieved strong growth in Q3 2025, with revenue up 231% year-over-year to 356,108 TSEK and EBITDA up 161% to 20,012 TSEK, driven by both organic growth and acquisitions.
Integration of Montico and IT Consulting Network Nordic AB proceeded as planned, with identified synergies beginning to materialize.
Several new framework agreements secured in both public and private sectors, supporting predictable revenue streams.
Updated financial targets: aiming for 3 billion SEK in revenue and 120 MSEK EBITDA by 2027, with a gross debt/EBITDA ratio below 3.0x.
Acquisition of Pro4u AB post-quarter, expected to further strengthen the consulting segment.
Financial highlights
Q3 2025 revenue: 356,108 TSEK (up from 107,542 TSEK in Q3 2024); EBITDA: 20,012 TSEK (7,666 TSEK); EBIT: 14,676 TSEK (6,413 TSEK); net income: 6,347 TSEK (4,112 TSEK); EPS: 1.12 SEK (0.83 SEK).
9M 2025 revenue: 890,326 TSEK (286,761 TSEK); EBITDA: 38,555 TSEK (21,896 TSEK); EBIT: 26,956 TSEK (18,512 TSEK); net income: 9,359 TSEK (11,779 TSEK); EPS: 1.68 SEK (2.41 SEK).
Proforma 9M 2025: revenue 1,287,984 TSEK (310,413 TSEK), EBITDA 55,953 TSEK (21,896 TSEK), EBIT 40,127 TSEK (19,597 TSEK).
Q3 operating cash flow: -15,554 TSEK (4,379 TSEK); total cash flow: -32,304 TSEK (-1,940 TSEK); period-end cash: 58,251 TSEK (13,780 TSEK).
Outlook and guidance
Financial targets for 2028 are now expected to be reached by 2027, with a focus on 3 billion SEK revenue and 4% EBITDA margin.
Continued focus on profitable growth, integration of recent acquisitions, and securing new contracts.
Operating cash flow: What drives the Q3 decline?
How will organic growth support 2027 targets?
Solidity drop to 14%: What are the implications?
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Frequently asked questions
Calviks (Job Solution Sweden Holding AB) is a company specializing in human resources and executive search consulting services. Founded in 2015, the company operates primarily through its subsidiaries in Sweden, Norway, and Denmark. Its main business involves driving and developing companies focused on competency provision, which includes recruitment and staffing solutions across various industries. The company aims to support organizations in sourcing and managing talent effectively. Job Solution Sweden Holding AB is headquartered in Sundbyberg, Sweden, and its shares are listed on the Nasdaq Stockholm.
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