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Teqnion (TEQ) investor relations material
Teqnion Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q3 2025 saw improved EBITDA, EBITA, and free cash flow, with FCF at 59.8 MSEK (17.7) and EBITA at 67.8 MSEK (41.5), reflecting a 37% year-over-year increase.
Net sales rose 19% to 455.6 MSEK (381.8), with 1% organic growth; EBITA margin increased to 14.9% (10.9%).
Two new U.K. subsidiaries, Birkett Bogmats and HT Servo, were acquired, while Reward Catering entered provisional liquidation, resulting in a SEK 73 million goodwill impairment.
Nine acquisitions in 2025 contributed ~191 MSEK in net sales and 50 MSEK in EBT with an average EBT margin of 25%.
Management remains focused on further improvement and scaling, targeting quality M&A and operational enhancements amid ongoing economic headwinds.
Financial highlights
EBITDA, EBITA, and free cash flow improved, with FCF up 238% year-over-year for Q3 and 160% YTD, attributed to M&A and operational improvements.
Goodwill impairment of SEK 73 million was recognized due to issues with Reward Catering and Hem1, impacting EBT and resulting in a negative EPS of -1.31 SEK (1.59); excluding impairment, EPS was 2.94.
Net debt/EBITDA increased to 2.0 from 1.2 year-over-year, reflecting acquisition activity; target remains below 2.5.
Margins of newly acquired companies are above group average, contributing positively to overall results.
Net sales for the rolling 12 months reached 1,740.2 MSEK.
Outlook and guidance
Management expresses confidence in continued improvement and scaling, focusing on acquiring higher-quality, larger companies and operational improvements.
New governance structure with Nordics and UK divisions aims to enhance scalability and local market insight.
No significant seasonality is expected due to diversification across industries and geographies.
Ongoing efforts to improve underperforming companies and further reduce losses.
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