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Wall to Wall Group (WTW-A) investor relations material
Wall to Wall Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary5 Nov, 2025
Executive summary
Adjusted EBITA margin improved to 3.4% from 3.0% year-over-year, driven by lower indirect costs and efficiency gains.
Profitability improved for the second consecutive quarter year-over-year, despite declining net revenue.
Integration of recent acquisitions, including Energiprojekt and Västsvenska Spol och Slam AB, is progressing well, enhancing service offering and regional presence.
Indirect costs reduced by over 10% year-over-year, supporting a more efficient cost structure.
Management strengthened with the appointment of a new CFO, effective January 2026.
Financial highlights
Q3 2025 net revenue was SEK 181.8 million, down from SEK 207.5 million in Q3 2024.
Adjusted EBITDA for Q3 2025 was SEK 21.4 million (11.8% margin), compared to SEK 21.7 million (10.4% margin) in Q3 2024.
Adjusted EBITA for Q3 2025 was SEK 6.2 million (3.4% margin), up from SEK 5.6 million (2.7% margin) year-over-year.
Q3 net earnings: SEK -0.6 million (20.7); EPS: SEK -0.05 (1.52).
Cash position at quarter-end was SEK 43.4 million; financial net debt stood at SEK 276.8 million.
Outlook and guidance
Expectation of a good end to the year with improved adjusted operating results for the full year.
Market stabilization is ongoing but gradual, with regional variations.
Full effect of cost and margin initiatives expected over a longer horizon.
Cash flow from operations Q3: What drove the significant decline
Net debt increase: What is the strategy to manage leverage
Profitability drivers: Detail margin improvements by segment
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Next Wall to Wall Group earnings date
Q4 202513 Feb, 2026
Next Wall to Wall Group earnings date
Q4 202513 Feb, 2026
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Frequently asked questions
Wall to Wall Group AB is a Sweden-based company specializing in pipe collection, flushing, inspection, maintenance, and sealing of ventilation ducts. The company, operating under the subsidiary Spolargruppen, also offers complementary services such as geothermal solutions for apartment buildings. Their clientele includes property owners, mainly commercial managers of residential and non-residential premises, public housing, and tenant-owner associations. The company's operations are spread across Sweden, Norway, Denmark, and Finland. The company is headquartered in Kristianstad, Sweden, and its shares are listed on the Stockholm Stock Exchange.
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