Addtech (ADDT) Q4 25/26 earnings summary

Executive summary

• Net sales rose 4% year-over-year to SEK 22,703 million, with 2% organic growth and 6% acquired growth, offset by a 4% negative currency effect.

• EBITA increased 12% to SEK 3,641 million, with a record EBITA margin of 16.0% (up from 15.0%).

• Profit after tax grew 14% to SEK 2,206 million, and EPS before/after dilution reached SEK 7.95 (from 7.00).

• Nine acquisitions completed during the year, adding SEK 1,595 million in annual sales and 410 employees; two more acquisitions closed after year-end.

• Board proposes a dividend of SEK 3.60 per share, up from SEK 3.20 last year.

Financial highlights

• Q4 net sales up 2% to SEK 5,858 million; EBITA up 15% to SEK 1,011 million, margin at 17.3%.

• Full-year EBITDA reached SEK 4,100 million, up from 3,692; EBITA margin improved to 16.0%.

• Cash flow from operating activities nearly SEK 3 billion, with cash flow per share at SEK 11.10.

• Return on working capital reached 81% in Q4; ROCE stable at 22%.

• Net debt/equity ratio at 0.7; interest coverage ratio at 14.0.

Outlook and guidance

• Entering the new year with high customer activity, strong order backlog, and solid positions in niche markets.

• Margin improvements seen as sustainable, with ambitions to continue increasing margins through product mix, pricing, and acquisitions.

• Continued high pace of acquisitions expected, supported by a strong balance sheet.

• Diversified operations and decentralized business model expected to provide resilience amid global uncertainty.

• Management optimistic about long-term value creation despite market uncertainty.