Berner Industrier (BERNER) Q4 2025 earnings summary

Executive summary

• EBITA doubled in Q4 2025, driven by 6% sales growth, improved gross margins, and efficiency measures, resulting in a record full-year EBITA of SEK 100 million and a 10% margin, surpassing the 9% target.

• Full-year net sales reached SEK 1,000.2 million, up 3.9% year-over-year, with acquired growth of 4.3% and organic growth of 0.6%.

• The Energy & Environment segment led growth, with 20% Q4 sales growth and over 50% profit increase; Technology & Distribution saw improved margins despite lower sales.

• Two acquisitions were completed: Autofric (May 2025) and Typhonix (agreement in Q4, completed January 2026).

• The Board proposes a 32% dividend increase to SEK 1.25 per share.

Financial highlights

• Q4 order intake rose 1% to SEK 274.8 million; net sales increased 5.6% to SEK 261.2 million.

• Q4 EBITA was SEK 28.2 million (up 100%), with a margin of 10.7% (5.7%).

• Full-year EBITA reached SEK 100.2 million (up 69.8%), with a margin of 10.0% (6.1%).

• Earnings per share for the year were SEK 3.79 (up 93%).

• Cash flow from operating activities was SEK 94.9 million for the year; total cash flow was SEK -11.9 million, impacted by SEK 38.9 million in acquisitions and SEK 20 million in voluntary loan amortization.

• Return on equity improved to 32.5% (19.5%).

Outlook and guidance

• Entering 2026 with a strong balance sheet, robust cash generation, and a focus on further acquisitions.

• Order intake in Q4 exceeded net sales by over 5%, indicating positive momentum for 2026.

• The Group expects continued good development, supported by a diversified business and ongoing efficiency improvements.