Hulström Group (HULT) Q4 2025 earnings summary

Executive summary

• Revenue for 2025 was 310.4 MSEK, down from 328.3 MSEK year-over-year, mainly due to strategic exit from low-margin subcontracting business and a refined service offering.

• Adjusted EBITA for 2025 reached 34.5 MSEK (35.7 MSEK in 2024), with an adjusted EBITA margin of 11.1% (10.9%).

• Extraordinary one-time costs of 1.7 MSEK related to discontinued international assignments negatively impacted operating profit.

• A new CEO, Amanda Tevell, was appointed and took office in January 2026.

Financial highlights

• Q4 2025 revenue was 87.4 MSEK (89.3 MSEK in Q4 2024); full-year revenue was 310.4 MSEK (328.3 MSEK in 2024).

• Adjusted Q4 EBITA was 12.1 MSEK (11.4 MSEK), with a margin of 13.8% (12.8%).

• Full-year EBITA (excluding extraordinary items) was 34.5 MSEK (35.7 MSEK), EBITA margin 11.1% (10.9%).

• Net income for 2025 was 13.2 MSEK (25.7 MSEK in 2024); EPS was 0.22 SEK (0.42 SEK).

• Cash flow from operations was 29.2 MSEK (24.2 MSEK), and cash and equivalents at year-end were 13.0 MSEK (3.1 MSEK).

• Proposed dividend for 2025 is 0.11 SEK per share (0.17 SEK in 2024).

Outlook and guidance

• Strategic focus on growth through acquisitions and new company launches within the group.

• Long-term financial target set for EBITA margin to exceed 13%.

• Plan to distribute a significant portion of net profit to shareholders, with a 2025 payout ratio of approximately 50%.