Berner Industrier (BERNER) Q2 2025 earnings summary

Executive summary

• Achieved record quarterly EBITA of SEK 24.6 million, up 59.5% year-over-year, with margin rising to 9.0% from 6.0%.

• Order intake increased 11.8% to SEK 278.8 million; net sales rose 7.1% to SEK 272.8 million, with 4.4 percentage points organic growth.

• Both business areas improved results, with Energy & Environment notably strong due to project deliveries and the acquisition of Autofric AB.

• Cash flow from operating activities reached SEK 33.8 million, supporting investments and dividend payments.

• The company remains confident in medium/long-term prospects despite some market hesitancy.

Financial highlights

• First half order intake up 14.8% to SEK 541.5 million; net sales up 2.2% to SEK 508.9 million, with 1.1 percentage points organic growth.

• EBITA for H1 rose 43.4% to SEK 42.9 million; EBITA margin improved to 8.4% from 6.0%.

• Earnings per share before dilution increased 55.7% to SEK 1.58 for H1.

• Cash flow from operating activities for H1 was SEK 48.9 million; total cash flow for the period was SEK -24.7 million, reflecting acquisition and dividend outflows.

• Return on equity (R12) reached 36.1% in Q2, up from 23.1% a year earlier.

Outlook and guidance

• Order intake growth and strong project pipeline support a positive outlook for the coming quarters.

• Underlying markets in energy, water treatment, and process industry expected to show continued growth.

• Management remains confident in medium/long-term prospects despite some cyclical hesitancy.