Calviks (CALVIK) Q4 2025 earnings summary

Executive summary

• Achieved record quarterly and annual results, with strong growth in revenue and EBITDA driven by both organic expansion and strategic acquisitions across the Nordics.

• Focused on high-margin contracts and long-term quality, resulting in improved profitability and operational leverage.

• Significant contracts won in both public and private sectors, enhancing cash flow stability and predictability.

Financial highlights

• Q4 2025 net revenue: 458,019 TSEK (up 281% year-over-year); EBITDA: 24,747 TSEK (up 760%); EBIT: 15,065 TSEK (up 826%).

• Full-year 2025 net revenue: 1,348,345 TSEK (up 231%); EBITDA: 63,302 TSEK (up 155%); EBIT: 42,022 TSEK (up 108%).

• Proforma 2025 net revenue: 1,740,249 TSEK (up 278%); EBITDA: 81,525 TSEK (up 229%).

• Q4 net income: 7,299 TSEK (up from 953 TSEK); EPS: 1.29 SEK (up from 0.19 SEK).

• Full-year net income: 16,658 TSEK (up from 12,733 TSEK); EPS: 2.99 SEK (up from 2.59 SEK).

• Q4 operating cash flow: 57,250 TSEK (up from 18,058 TSEK); year-end cash: 104,494 TSEK.

Outlook and guidance

• Entering 2026 with strong operational momentum, a robust acquisition pipeline, and a focus on maintaining gross leverage ratio below 3.0.

• Updated financial targets published, emphasizing continued scalable growth and financial discipline.