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Scandinavian Astor Group (ASTOR) investor relations material

Scandinavian Astor Group Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary12 Nov, 2025

Executive summary

  • Net sales grew 78% in Q3 to SEK 79 million, with 85% growth for Jan–Sep 2025 year-over-year and organic growth of 22% and 32% respectively.

  • EBITDA improved to SEK 15.9m in Q3 (from SEK -3.9m), with an adjusted EBITDA margin of 21.7%.

  • Record order intake of SEK 144 million in Q3, a 432% year-over-year increase, and order book at SEK 368.3 million.

  • Strategic acquisitions, including Ammunity, Carbonia, Welas, and ID Modeller, expanded operations to four countries and market reach.

  • Applied for listing on the NGM main market, expected in early December.

Financial highlights

  • Q3 net sales: SEK 78.7m (Q3 2024: SEK 44.1m); YTD net sales: SEK 244.0m (YTD 2024: SEK 131.7m).

  • Q3 EBITDA: SEK 15.9m; YTD EBITDA: SEK 32.9m.

  • Q3 profit before tax: SEK 6.0m; YTD profit before tax: SEK 8.7m.

  • Q3 earnings per share: SEK 0.06; YTD: SEK 0.11.

  • Operating cash flow was negative in Q3 due to buildup for Q4 deliveries.

Outlook and guidance

  • Q4 expected to be a record quarter, historically the strongest period.

  • Management targets SEK 2.5bn in sales and EBITDA margin above 15% by 2028.

  • Ammunity and Nordic Shield Group expected to contribute significantly to Q4 and beyond.

  • Continued focus on M&A, with several large acquisition targets in Northern Europe under discussion.

  • Anticipates strong finish to 2025, with ongoing investments in development and M&A.

Address Q3 operating cash flow deficit
Ammunity: How to achieve better margins?
Astor Tech's C-UAS system resilience in war conditions?
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Frequently asked questions

The Scandinavian Astor Group is a Swedish conglomerate with activities in both the defense and industrial sectors. It is composed of a military division that specializes in the development, production, and sale of radar jamming systems intended for training purposes. The industrial segment of the company focuses on manufacturing composite and metal components for various industries, including aviation, automotive, and defense. The Group's holdings include My-Konsult, Marstrom Composite, JPC Composite, and Mikroponent. The company is headquartered in Kista, Sweden, and its shares are listed on the Stockholm Stock Exchange.

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