Berner Industrier (BERNER) Q3 2025 earnings summary

Executive summary

• Strong order intake and sales growth, with order intake up 24.5% in Q3 and 17.7% for the nine months year-over-year.

• EBITA more than doubled in Q3 to SEK 29 million, and rose 60.4% to SEK 72 million for the nine months.

• Gross margins improved, driven by cost savings and efficient project execution.

• Cash flow from operating activities increased significantly, supporting investments and acquisitions.

Financial highlights

• Q3 net sales: SEK 230.2 million, up 5.9% year-over-year; nine months: SEK 739.1 million, up 3.3%.

• Q3 EBITA margin: 12.5% (up from 6.8%); nine months EBITA margin: 9.7% (up from 6.2%).

• Earnings per share in Q3: SEK 1.12 (up from 0.51); nine months: SEK 2.67 (up from 1.52).

• Cash flow from operating activities: SEK 26.3 million in Q3, SEK 75.3 million for nine months.

• Return on equity: 40.6% in Q3, 32.5% for nine months.

Outlook and guidance

• Management sees continued strong momentum, with order intake up 25% in Q3 and 18% for the year-to-date.

• Group EBITA margin target of at least 9% over a business cycle is considered fully achievable.

• No clear seasonal variation expected, but business mix may vary between quarters.