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VBG Group (VBG) investor relations material
VBG Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary28 Oct, 2025
Executive summary
Revenue grew 7.5% year-over-year to SEK 1,367.9M, with all divisions and geographies contributing and organic growth of 6.3% after adjusting for acquisitions and currency effects.
Order intake increased by 10% compared to Q3 2024, with all divisions contributing positively.
Three acquisitions (Italytec, Ledson, Malmedie) completed in the first nine months, supporting future growth and integration progressing as planned.
A new sustainability target was set: 62% reduction in Scope 3 CO2 emissions by 2040 (base year 2024).
All divisions contributed to sales growth, with notable recovery in Mobile Thermal Solutions and strong performance in Ringfeder Power Transmission.
Financial highlights
Q3 EBITDA was SEK 171 million, with a margin of 12.5%, nearly flat year-over-year; Q3 net sales were SEK 1,367.9M.
Operating cash flow was SEK 136 million in Q3, and SEK 247.5M for nine months, down from SEK 502.0M year-over-year.
Earnings per share were SEK 3.87 in Q3; nine months EPS was SEK 12.44.
ROCE stood at 30.1% in Q3, with a decrease attributed to recent acquisitions and land purchase; cumulative ROCE for nine months was 11.4%.
Equity/assets ratio at 57.1% (down from 64.4% year-over-year).
Outlook and guidance
Management anticipates continued market volatility and geopolitical tension but expects to maintain growth, supported by a strong order book, recent acquisitions, and stable cash flow.
Q4 is expected to see further growth, with SEK 100 million in additional revenues from acquisitions at margins above group targets.
No formal forecast provided for 2025.
Long-term organic growth in Mobile Thermal Solutions is projected at 4%-5% CAGR over the next 4-5 years.
How will MTS profitability issues be resolved
What is the strategy for rising net debt
What drives the cautious optimism for demand
MTS margin recovery path and key drivers?
How will new tariffs affect future profitability?
Recent acquisitions' strategic impact on group?
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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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