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Vestum (VESTUM) investor relations material
Vestum Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Organic growth reached 4% in Q2 2025, with cash flow and profitability stable despite a 7% net sales decrease from divestments and currency effects.
Free cash flow increased by over SEK 50 million in Q2, with cash conversion at 82%.
One acquisition completed (Nortech), with investments in production capacity and leverage rising to 2.65x EBITDA.
Divestments in the Solutions segment, including major companies, led to lower sales and a capital loss.
Focus remains on growth investments and strengthening market position, especially in the UK.
Financial highlights
Q2 2025 net sales: SEK 1,012 million, down 7% year-over-year due to divestments, partially offset by acquisitions.
Adjusted EBITA margin was 10.1%, in line with last year.
Organic growth was 4%, up from 3% in Q1.
LTM free cash flow reached SEK 120 million, a significant increase from Q1.
Cash flow from operating activities: SEK 79 million in Q2.
Outlook and guidance
Flow Technology segment expected to benefit from UK water infrastructure investments (AMP8) in coming years, with a solid M&A pipeline.
Short-term caution in the UK market due to AMP8 ramp-up and resource planning, but positive effects anticipated in late 2025.
Profitability in Solutions segment expected to improve as Swedish construction recovers.
Additional UK-based acquisitions planned before year-end.
Midterm market outlook remains positive despite short-term uncertainties.
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