Nordrest
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Nordrest (NREST) investor relations material

Nordrest 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 summary18 Feb, 2026

Executive summary

  • Achieved record quarterly net sales of 818 MSEK, up 53.1% year-over-year, with 43% organic growth and improved profitability.

  • Growth driven by organic expansion and strategic acquisitions in Finland and Denmark, with all customer groups reporting increased net sales.

  • Maintained focus on contract-based meal solutions for sectors with stable, predictable demand.

  • EBITA margin rose to 14.7% in Q4, driven by higher-margin customer segments.

  • Board proposes a dividend of 8.50 SEK per share for 2025, up from 5.00 SEK.

Financial highlights

  • Q4 net sales: 818 MSEK (534 MSEK prior year), EBITA: 120 MSEK (51 MSEK), EBITA margin: 14.7% (9.5%).

  • Full-year net sales: 2,545 MSEK (1,908 MSEK), EBITA: 298 MSEK (169 MSEK), EBITA margin: 11.7% (8.8%).

  • EPS before dilution: 6.37 SEK (3.01 SEK) for Q4; 15.51 SEK (10.98 SEK) for the year.

  • Operating cash flow (R12): 263.5 MSEK (176.5 MSEK), operating cash conversion: 79.4% (89.3%).

  • Net debt/EBITDA at -0.2x, indicating a net cash position.

Outlook and guidance

  • Medium-term targets: organic growth >10%, EBITA margin 8–10%, net debt/EBITDA <2.0x, dividend payout >50% of net profit.

  • Strong balance sheet with net cash position supports continued organic and acquisition-driven expansion.

  • Organic growth, profitability, and capital structure align with financial targets.

  • Board proposes a dividend of 8.50 SEK per share for 2025, up from 5.00 SEK, exceeding 50% payout ratio.

How to stabilize MRE revenue variability?
Which customer groups drive higher EBITA margins?
What is the long-term Orifo ApS ownership plan?
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Frequently asked questions

Nordrest Holding AB is a foodservice company based in Sweden. Their offerings include contract-based meal services and ready-made brand concepts such as Taste by Nordrest, Togo by Nordrest, Pocket by Nordrest, La Girafe, Dinners, and Way Cup. The company operates in the restaurant and café management sector, focusing on natural guest flows and contract-based meal solutions. Nordrest is headquartered in Solna, Sweden, and its shares are listed on the Stockholm Stock Exchange.

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