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Enrad (ENRAD) investor relations material

Enrad 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 summary27 Feb, 2026

Executive summary

  • Full-year net sales increased to 55,859 Tkr from 43,085 Tkr year-over-year, reflecting continued growth despite a challenging economic environment.

  • Q4 net sales declined to 11,837 Tkr from 14,816 Tkr compared to the same quarter last year, attributed to more cautious customer behavior and delayed order decisions.

  • Operating losses deepened both in Q4 and for the full year, with investments and increased staffing impacting results.

  • Expansion into the Netherlands and Belgium initiated, with first orders received and new hires planned to support growth.

  • Company completed a move to NGM Nordic SME and executed a fully guaranteed rights issue to strengthen capital.

Financial highlights

  • Q4 operating income before depreciation and financial items was -2,907 Tkr (58 Tkr last year); after depreciation and financial items, -3,111 Tkr (-737 Tkr last year).

  • Full-year operating income before depreciation and financial items was -4,695 Tkr (1,315 Tkr last year); after depreciation and financial items, -8,090 Tkr (-1,439 Tkr last year).

  • Q4 EPS was -0,12 kr (-0,03 kr last year); full-year EPS was -0,30 kr (-0,06 kr last year).

  • Equity at year-end was 41,116 Tkr (23,706 Tkr last year); equity ratio improved to 72% (58%).

  • Cash at year-end was 19,636 Tkr, up from 4,699 Tkr.

Outlook and guidance

  • Management expects continued strong order inflow but notes longer decision cycles and delayed deliveries into 2026.

  • No dividend proposed for the 2025 financial year.

  • Sufficient liquidity and credit facilities are expected to support operations through 2026 without additional capital injections.

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Frequently asked questions

Enrad AB is a Sweden-based company specializing in energy-efficient cooling and heating solutions. The company designs and manufactures modular refrigeration systems and heat pumps that prioritize environmental sustainability and cost-effectiveness. Its products are tailored for use in commercial, industrial, and residential settings, integrating advanced technology to reduce energy consumption and carbon emissions. The company is headquartered in Borås, Sweden, and its shares are listed on the Spotlight Stock Market.

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