Full-year sales rose 7% to SEK 8,419 million, with EBITA up 10% to SEK 726 million, driven by strong contributions from Salix and Ettiketto Groups.
Salix Group led EBITA gains, growing 74% in Q4 and 15% for the year, with margin expansion to 9% in Q4 and 10% for the year.
Earnings per share increased 14% year-over-year, and profit after tax rose 12% to SEK 315 million.
Growth was primarily acquisition-driven, with organic sales flat for the year, a notable improvement from -7% organic growth the previous year.
Market conditions stabilized, with signs of recovery and the Board evaluating a separate listing for Salix Group.
Q4 2025 net sales were SEK 2,020 million, EBITA was SEK 140 million, and EBITDA was SEK 726 million.
Full-year operating cash flow was SEK 728 million, with Q4 operating cash flow up 8% to SEK 403 million.
EBITA margin improved to 8.6% in 2025 from 8.4% in 2024.
Net debt/adjusted EBITDA improved to 2.5x at year-end.
Cash conversion remained strong at 88% for 2025.
Management expects continued market recovery and is well positioned for both organic and acquisition-driven growth in 2026.
Board continues to evaluate a potential distribution and separate listing of Salix Group, with a decision expected in 2026.
EBITDA must reach SEK 1.1–1.5 billion by 2027 to close the growth gap.
Organic profit growth is expected to accelerate as markets normalize.
More acquisition opportunities are anticipated, with flexibility to accept temporarily higher leverage.
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Search for any keyword across all transcripts simultaneously.
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
The easiest way to stay updated during earnings season.
All events from public companies. Live and recorded.
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
)
)
Explore our global coverage