Infrea
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Infrea (INFREA) investor relations material

Infrea 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 summary17 Feb, 2026

Executive summary

  • Achieved significant strategic transformation by divesting the Vatten & Avlopp segment, resulting in a net cash position and focus on core segments Mark & Anläggning and Beläggning.

  • EBITA improved by 140.6% year-over-year to 40.0 Mkr, with adjusted EBITA at 51.4 Mkr excluding Mikaels Grävtjänst.

  • Organic revenue growth of 8.1% for the year, with continued improvements in project management and profitability.

  • Board proposes a dividend of 0.65 kr per share, a 30% increase from the previous year.

Financial highlights

  • Net sales from continuing operations: 2,069.0 Mkr (up 8.1% year-over-year).

  • EBITA: 40.0 Mkr (16.6 Mkr in 2024), EBITA margin 1.9% (0.9%). Adjusted EBITA: 51.4 Mkr, margin 2.5%.

  • Net income from continuing operations: 7.3 Mkr (–18.7 Mkr in 2024).

  • Earnings per share from continuing operations: 0.2 kr (–0.7 kr in 2024).

  • Cash flow from operations: 63.9 Mkr (99.7 Mkr in 2024).

  • Net cash position at year-end: 2.6 Mkr (net debt of 204.7 Mkr in 2024).

  • Realized gain from divestment: 46.0 Mkr.

Outlook and guidance

  • Expectation of improved cash flow in 2026 as delayed customer payments are resolved.

  • Focus remains on achieving a 6% EBITA margin and leveraging strengthened financial position for acquisitions or strategic deals.

  • Anticipated better results in 2026 for underperforming subsidiaries.

V&A sale: deployment of net cash
EBITA margin: path to 6% target
Working capital: resolution of customer disputes
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Frequently asked questions

Infrea AB is a Sweden-based holding company that operates primarily within the industrial sector, focusing on three main segments: Land and Construction, Waste, Water and Sewage, and Fire Protection. The company specializes in acquiring and developing unlisted companies in the Nordic markets, with a portfolio that includes businesses like Asfaltsgruppen, involved in paving; BST Brandskyddsteamet AB, providing sprinklers and fire protection systems; and Cleanpipe, which offers services such as pipe inspections with cameras, sludge extraction, high pressure flushing, wire lining, transportation of hazardous waste, and residual water management. With a workforce of 549 employees, Infrea AB has established a solid presence in its industry by catering to the specific needs of infrastructure development and maintenance in Sweden. The company is headquartered in Stockholm, Sweden, and its shares are listed on the Nasdaq Stockholm stock exchange.

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