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Nurminen Logistics (NLG1V) investor relations material
Nurminen Logistics Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net sales grew 4.4% year-over-year to EUR 109.4 million, with strong comparable EBITA of EUR 18.3 million (16.7% of net sales).
Operating cash flow was robust at EUR 20.1 million, supporting a strengthened balance sheet and enabling strategic investments.
Growth was driven by rail operations in Finland and Sweden, offsetting significant volume declines in the Baltic business due to geopolitical uncertainties.
Strategic focus shifted to larger European markets, with new rail services and international expansion initiatives.
The company maintained high delivery reliability and increased clientele in terminal operations, especially in green transition projects.
Financial highlights
EBITDA for 2025 was EUR 24.6 million (22.5% of net sales), nearly flat year-over-year.
Operating profit was EUR 14.6 million (13.3% of net sales), down from EUR 19.3 million (18.4%) in 2024.
Result for the period was EUR 6.5 million, a decrease from EUR 13.1 million in the prior year.
Earnings per share were EUR 0.04, compared to EUR 0.09 in 2024.
Q4 net sales rose 10% year-over-year to EUR 25.2 million, with EBITDA at EUR 5.1 million.
Outlook and guidance
Net sales and comparable operating profit for H1 2026 are expected to fall short of the prior year due to continued uncertainty in the Baltic business.
Growth from Central European investments is anticipated from Q2 2026 onward.
Long-term agreements and a strong balance sheet support future organic growth and acquisitions.
- International rail growth offset Baltic weakness, with strong cash flow but lower EBITA outlook.NLG1V
Q3 202523 Oct 2025 - Record profitability and cash flow achieved as railway business drives growth and outlook remains strong.NLG1V
Q2 202531 Jul 2025 - Record H1 profit, but 2024 outlook cut as Baltic volumes fall from Red Sea crisis impact.NLG1V
Q2 202413 Jun 2025 - Profitability improved despite a 34% sales drop, with rail business and margins strengthening.NLG1V
Q3 202413 Jun 2025 - Railway logistics growth drove profitability and cash gains despite Baltic headwinds.NLG1V
Q1 20256 Jun 2025 - Profitability improved despite lower sales, with rail business and acquisitions driving future growth.NLG1V
Q4 20245 Jun 2025
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