Cedergrenska (CEDER) Q4 2025 earnings summary

Executive summary

• Revenue for Q4 2024/25 increased by 52.1% year-over-year to 367,746 KSEK, driven by acquisitions and organic growth.

• EBITA for the quarter rose to 33,078 KSEK, with a margin improvement to 9.0% from 7.4% year-over-year.

• Net income with reversed goodwill amortization reached 25,207 KSEK for Q4, and adjusted EPS was 1.79 SEK.

• Full-year revenue grew 35.8% to 1,232,628 KSEK, with EBITA at 94,197 KSEK and a 7.6% margin.

• Integration of Aprendere Skolor AB and other acquisitions contributed significantly to growth.

Financial highlights

• Q4 EBITDA was 36,498 KSEK, up from 20,736 KSEK year-over-year.

• Net debt at period end was -38,214 KSEK, with a net debt/EBITDA ratio of -0.4.

• Cash flow from operations in Q4 was 44,198 KSEK; full-year operating cash flow was 81,687 KSEK.

• Equity increased to 179,794 KSEK, and cash at period end was 128,600 KSEK.

• Total dividend payout for the year was 35,169 KSEK, with a proposed ordinary dividend of 1.70 SEK per share.

Outlook and guidance

• Forecast for FY 2025/26: revenue growth of at least 15%, EBITA margin of at least 6%, and goodwill-adjusted net profit of at least 67 MSEK.

• If all repurchased shares are cancelled, forecasted EPS (goodwill-adjusted) is at least 5.3 SEK.

• Plans to adopt IFRS reporting and seek listing on Nasdaq Stockholm Main Market in 2026.