Seafire
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Seafire (SEAF) investor relations material

Seafire 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 summary20 Feb, 2026

Executive summary

  • Net sales grew 11% in Q4 2025 to SEK 234 million, with organic growth accounting for the entire increase; full-year net sales rose 3% to SEK 929 million, also fully organic.

  • Adjusted EBITA increased 66% in Q4 to SEK 10 million and 17% for the year to SEK 49 million, driven by higher sales and stable gross margins.

  • Strong operating cash flow before tax: SEK 24 million in Q4 and SEK 66 million for the year, supported by improved working capital and restrained investments.

  • Restructuring costs of SEK 18 million in Q4 and SEK 16 million for the year impacted reported earnings, mainly related to factory relocations and discontinued operations.

  • No dividend proposed for 2025; new SEK 250 million financing agreement signed in February 2026 with lower amortization and interest margins.

Financial highlights

  • Q4 gross margin stable at 45%; full-year gross margin improved to 46% from 45%.

  • Q4 EBITA was SEK -8 million (margin -3%), impacted by SEK 18 million in restructuring costs; adjusted EBITA margin improved to 4%.

  • Full-year EBITA was SEK 33 million (margin 4%), with adjusted EBITA margin at 5%.

  • Q4 operating profit (EBIT) was SEK -17 million, improved from SEK -92 million last year; full-year EBIT was SEK 5 million, up from SEK -105 million.

  • Basic and diluted EPS: SEK -0.18 in Q4 (vs. -2.26), SEK -0.09 for the year (vs. -3.12).

Outlook and guidance

  • Markets expected to continue recovering in 2026, though Q4’s growth pace unlikely to persist.

  • Discontinued operations may negatively impact sales but are expected to improve earnings and cash flow.

  • Focus remains on gross margins, working capital, and acquisitions to drive further growth.

Borö-Pannan cost base reduction timing
New financing agreement's cash flow impact?
2026 sales impact from discontinued operations
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Frequently asked questions

Seafire AB is a Sweden-based investment company that specializes in acquiring and developing small companies with a focus on the Swedish market. The company operates across two main segments: Industrial Components and Products. Seafire's diverse portfolio includes marketing and selling personal electric vehicles (like electric bicycles and scooters), providing monitoring products and services for farmers and industrial customers, and offering interpretation, translation, and training services. Additionally, Seafire deals in industrial components such as engines, control units, industrial fans, and supplies for the metal and wood product-painting industry. It also has a footprint in manufacturing with activities in pressing, stamping, and laser cutting of sheet steel components. The company's offerings extend to antenna mounts, cable protection products, customized doors and windows, heating products, and even eyewear design and marketing. The company is headquartered in Stockholm, Sweden, and its shares are listed on the Nasdaq Stockholm.

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