TCECUR Sweden
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TCECUR Sweden (TCC) investor relations material

TCECUR Sweden 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 summary23 Feb, 2026

Executive summary

  • Order backlog increased to 217.4 MSEK (175.2), with recurring revenues rising to 76.7 MSEK (67.7), representing 14.0% (11.9%) of total backlog.

  • Net sales for Q4 2025 were 154.0 MSEK (149.5), with organic growth of 3.0% (-13.7%).

  • EBITA for Q4 was 1.3 MSEK (5.2), margin 0.8% (3.5%), impacted by a 7.2 MSEK inventory write-down; adjusted EBITA was 8.5 MSEK (5.2), margin 5.5% (3.5%).

  • Full-year net sales were 548.3 MSEK (570.2), organic growth -3.8% (-2.8%), EBITA 7.9 MSEK (2.1), margin 1.4% (0.4%).

  • Net result after tax for Q4 was -3.3 MSEK (1.6); for the year, -23.2 MSEK (-9.9).

Financial highlights

  • Recurring revenues increased to 76.7 MSEK (67.7) for Q4, now 14.0% of total.

  • Adjusted EBITA for the year was 15.2 MSEK (10.0), margin 2.8% (1.8%).

  • Operating cash flow for Q4 was 3.1 MSEK (17.3); for the year, 17.0 MSEK (24.0).

  • Net debt/adjusted EBITDA improved to 1.4x (2.8x).

  • Cost savings of 28.2 MSEK realized in 2025.

Outlook and guidance

  • Entering 2026 with a strengthened order backlog, higher recurring revenues, and reduced cost base.

  • Continued focus on efficiency and profitability improvements, though full effects will take time.

  • Geopolitical uncertainty and heightened security requirements expected to drive demand.

Lamport S1: Expected EBITA margin impact
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Frequently asked questions

TCECUR Sweden AB is a Sweden-based technology company specializing in advanced communication and security solutions. The company develops and provides systems for secure communication, surveillance, and monitoring, serving industries such as defense, public safety, and critical infrastructure. The company is headquartered in Stockholm, Sweden, and its shares are listed on the Spotlight Stock Market.

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