Firefly (FIRE) Q4 2025 earnings summary

Executive summary

• Q4 2025 marked the strongest quarter ever in terms of sales and profit, despite currency headwinds and uneven order intake.

• Full-year order intake grew 5% to 508.8 MSEK, with net sales up 1% to 503.2 MSEK; adjusted for comparable units, order intake rose 9% and sales 4%.

• Board proposes a total dividend of 10.00 SEK per share for 2025, including an extra dividend to align with new financial targets.

Financial highlights

• Q4 net sales increased 14% year-over-year to 154.8 MSEK; operating profit rose 14% to 23.7 MSEK.

• Adjusted Q4 operating profit (currency effects excluded) up 36% to 25.1 MSEK, margin 16.2% (13.6%).

• Full-year operating profit fell 9% to 63.4 MSEK; adjusted, it rose 4% to 70.0 MSEK, margin 13.9% (13.5%).

• Q4 EPS was 2.96 SEK (up 12%); full-year EPS was 7.92 SEK (down 13%).

• Q4 operating cash flow was 17.9 MSEK (down 30%); full-year operating cash flow rose 19% to 50.4 MSEK.

Outlook and guidance

• New targets for 2026–2030: average annual sales growth above 15% in constant currency, operating margin above 15%, net cash at least 5% of sales, and dividend payout of two-thirds of net profit.

• Management expects continued challenges in customer investment appetite but sees high quotation activity and potential for positive development in 2026.