Hedin Mobility (HEDIN) Q4 2025 earnings summary

Executive summary

• Revenue for 2025 decreased by 3% year-over-year to 89,630 MSEK, with Q4 revenue down 7% to 22,326 MSEK compared to Q4 2024.

• Operating profit (EBIT) for the year fell to -135 MSEK from -55 MSEK, and Q4 EBIT dropped to -314 MSEK from 64 MSEK.

• Net result for 2025 was -1,143 MSEK, a slight improvement from -1,157 MSEK in 2024.

• Market conditions remained weak, especially in new car sales, with ongoing margin pressure in used vehicles.

• Cost-saving and efficiency measures reduced operational costs by 1,500 MSEK during the year.

Financial highlights

• Operating margin for 2025 was 0.1% (0.5% in 2024); Q4 margin was -0.9% (0.5%).

• Cash flow from operations was 2,019 MSEK for the year, with available liquidity of 1,135 MSEK at year-end.

• Net debt reduced by approximately 1,000 MSEK during 2025.

• EBITDA for 2025 was 132 MSEK, up from 86 MSEK in 2024 (adjusted for non-recurring items).

Outlook and guidance

• Management expects continued market challenges in H1 2026, with potential improvement in H2.

• Focus remains on optimizing operations, improving cash flow, and strengthening margins.