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Eniro Group
Eniro Group (ENRO) investor relations material
Eniro Group Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary19 Feb, 2026
Executive summary
2025 marked a transition from transformation to growth, with the strongest revenue quarter and stable adjusted EBITDA, despite challenges in the Dynava segment.
Strategic acquisitions (Medialuotsi, Qwamplify Nordics) strengthened the digital marketing position in the Nordics.
The company ended the year with a strong cash position and improved operational efficiency, setting the stage for further investments and organic growth in 2026.
Financial highlights
Q4 net sales: SEK 244 million (up 2% year-over-year); full-year net sales: SEK 955 million (flat year-over-year).
Q4 operating result: SEK 10 million (down from 24); full-year operating result: SEK 55 million (down from 72).
Q4 EBITDA: SEK 27 million (down from 42); full-year EBITDA: SEK 123 million (down from 143).
Adjusted full-year EBITDA: SEK 139 million (down from 143), reflecting SEK 16 million in non-recurring items.
Q4 net result: SEK 8 million (down from 29); full-year net result: SEK 46 million (down from 68).
Cash flow from operations: SEK 43 million in Q4 (down from 64); SEK 90 million for the year (down from 109).
Earnings per share: SEK 0.01 in Q4 (0.04); SEK 0.06 for the year (0.09).
Outlook and guidance
Entering 2026 with a strong balance sheet, growing recurring revenues, and a focus on investments in sales, product development, and AI-driven innovation.
Expectation of accelerated organic growth and improved EBITDA leverage, with clear effects anticipated from 2027.
The advertising market is expected to strengthen, especially in digital channels, and optimism is returning among Nordic SMEs.
Explain the 'agentic company' concept
Update on Dynava's separate listing evaluation
Address Marketing Partner Q4 EBITDA margin decline
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Next Eniro Group earnings date
Q1 202629 Apr, 2026
Eniro Group
Next Eniro Group earnings date
Q1 202629 Apr, 2026
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Frequently asked questions
Eniro Group AB is a Swedish software-as-a-service company that operates across Sweden, Norway, Denmark, and Finland. The company provides a range of digital marketing services aimed at small and medium-sized businesses, including search engine marketing and advertising through local platforms like eniro.se, gulesider.no, and krak.dk. Additionally, Eniro offers contact center services and directory assistance for larger enterprises, alongside apps for online search and navigation. The company is headquartered in Solna, Sweden, and its shares are listed on the Nasdaq Stockholm.
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