Exalt (EXALT) Q3 2025 earnings summary

Executive summary

• Revenue grew 13.8% year-over-year in Q3 to 10.7 MSEK, driven by high utilization, especially in Malmö.

• EBIT turned positive at 0.1 MSEK in Q3, compared to -1.2 MSEK last year, reflecting cost savings from the efficiency program.

• The efficiency program launched in spring began to show results in Q3 and is expected to have full impact in Q4.

• Increased demand from operator customers and a shift toward higher-margin product sales improved profitability.

Financial highlights

• Q3 net sales: 10.7 MSEK (Q3 2024: 9.4 MSEK); EBIT: 0.1 MSEK (Q3 2024: -1.2 MSEK); net income: 0.1 MSEK (Q3 2024: -1.3 MSEK).

• First nine months: net sales 37.5 MSEK (34.5 MSEK), EBIT 0.4 MSEK (-0.8 MSEK), net income 0.2 MSEK (-1.1 MSEK).

• Cash and cash equivalents at September 30: 1.9 MSEK (2.4 MSEK).

• Solid equity ratio at 24.9% and quick ratio at 132.0% as of Q3.

Outlook and guidance

• Q4 2025 forecast: net sales 13 MSEK, EBIT 1.2 MSEK (9.2% margin).

• Full-year 2025 forecast: net sales 50.5 MSEK, EBIT 1.3 MSEK (2.6% margin).

• 2026 financial targets: organic growth 10–15%, EBIT margin 8%.

• Cost savings from the efficiency program expected to reach 1.5 MSEK annually.