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VBG Group
VBG Group (VBG) investor relations material
VBG Group Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary18 Feb, 2026
Executive summary
2025 was marked by geopolitical and trade turbulence, with significant resources spent mitigating US tariffs.
The year split into a slow first half and a stronger second half, with demand and revenue picking up in Q3 and Q4.
Three acquisitions were completed: Italytec, Ledson, and Malmedie, contributing to growth and strategic targets.
Q4 2025 saw consolidated sales rise 2.8% year-over-year to SEK 1,312.5M, with organic growth of 4.6% after adjusting for acquisitions and currency effects.
Operating profit (EBITA) for Q4 was SEK 172.5M (13.1% margin), and for the full year SEK 699.4M (13.0% margin), both down from 2024.
Financial highlights
Full-year revenue reached SEK 5,394.2M, a 3.4% decline year-over-year, with a 6% currency headwind.
Q4 revenue grew 2.8% year-over-year; currency and acquisition-adjusted sales up 4.6%.
Gross margin held at 13.1% in Q4; EBITDA was SEK 172 million, with margin down to 13.1% from 14.3% in Q3.
Cash flow from operating activities for 2025 was SEK 531.0M, a decrease from SEK 797.5M in 2024.
Equity/assets ratio at year-end was 56.0%, down from 62.7% the previous year.
Outlook and guidance
Strong order intake and book-to-bill ratio entering 2026, with order intake 8–10% higher than sales and Q4 order bookings up 16% (currency-adjusted).
Management anticipates continued market volatility and currency headwinds, especially in Q1 2026.
Price increases are being implemented to offset raw material cost inflation, with effects expected by Q2 2026.
No formal forecast for 2026 was provided.
Positive momentum in North America and signs of recovery in Europe.
Total impact of MTS inventory error on earnings?
Explain the rise in net debt/EBITDA ratio
MTS profitability plan for 2026
MTS margin recovery timeline and drivers
Future growth drivers: M&A vs organic
Toronto consolidation: expected gains timeline
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Next VBG Group earnings date
Q1 202627 Apr, 2026
VBG Group
Next VBG Group earnings date
Q1 202627 Apr, 2026
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Frequently asked questions
VBG Group AB develops, manufactures, markets, and sells various industrial components and systems. The company's products include hitches and turn tables for trucks; accessories and couplings for trucks and trailers; coupling, height control valve and quick release valves, weight compensation valves, trailer brakes and trailer suspension systems, sway control units, low loaders axles, blast tooling equipment for the mining industry, retarder control units for commercial vehicles; other tractor protection equipment; livestock trailers; automation solutions for warehouses; loading docks to increase the efficiency of loading processes in warehouses; waste management systems; and telematics products. VBG Group AB was founded in 1951 and is headquartered in Trollhättan, Sweden.
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