Navigo Invest
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Navigo Invest (NAVIGO) investor relations material

Navigo Invest 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 summary19 Feb, 2026

Executive summary

  • Strong finish to 2025 with significant improvements in revenue, operating profit, and cash flow both for Q4 and the full year, reversing previous declines.

  • Portfolio highlights include Vinga Group's improved profitability, Chemgroup's sales growth, and robust order books at CalorMet and Geogruppen.

  • Net asset value per common share increased by 13.3% year-over-year, reaching SEK 10.02 at year-end.

Financial highlights

  • Q4 net sales rose 12.5% year-over-year to SEK 200.6m; full-year net sales up 8% to SEK 653.8m.

  • Q4 EBITDA surged to SEK 33.6m (from SEK 11.9m); full-year EBITDA up 72.4% to SEK 84.5m.

  • Q4 operating profit (EBIT) was SEK 20.2m (vs. -SEK 262.9m); full-year EBIT SEK 56.4m (vs. -SEK 242.4m), with 2024 heavily impacted by goodwill write-downs.

  • Q4 net income was SEK 19.9m (vs. -SEK 245.5m); full-year net income SEK 37.2m (vs. -SEK 239.6m).

  • Q4 cash flow SEK 31.7m (vs. SEK 6.7m); full-year cash flow SEK 26.1m (vs. -SEK 54.7m).

  • Group equity ratio at 77% (up from 75.5%).

Outlook and guidance

  • Entering 2026 with higher earnings capacity, strong order books, and a focus on resolving preferred share dividend arrears.

  • Financial target remains 15% annual NAV growth per share; achieved 13.3% in 2025.

  • Continued focus on cash flow, capital structure, and active participation in the transaction market.

Preference share dividend plan status
Strategy to reduce substance value discount
Future valuation impact of goodwill impairments
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Frequently asked questions

Pegroco Invest AB is a Swedish private equity fund, established in 2007 with the objective to invest in a portfolio of private companies. The investment focus will be on Scandinavia and the Baltic countries. Pegroco invests together with management and provides both financial support and other strategic resources anad offers partnership to build long-term value creation potential of investee companies. Pegroco Invest AB is based in Göteborg, Sweden.

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