Idun Industrier (IDUN) Q3 2025 earnings summary

Executive summary

• Net sales rose 4.5% to SEK 521.1 million in Q3 2025, with operating profit above SEK 300 million and organic growth at -2.2%.

• EBITA increased 5.6% to SEK 73.6 million in Q3 2025, but organic EBITA declined by 9.2%.

• Earnings per share (adjusted for goodwill, after dilution) grew over 20% to SEK 3.6 in Q3 2025.

• Acquisitions of Barem OÜ, Prestec, and other add-ons contributed to profit growth.

• Manufacturing segment outperformed Service & Maintenance, which faced weaker demand.

Financial highlights

• Q3 2025 net sales: SEK 521.1 million (up 4.5% YoY); EBITDA: SEK 85.9 million; EBITA: SEK 73.6 million; EBITDA margin: 14.1%.

• Organic sales declined 2.2% and organic EBITDA dropped 9.2% YoY.

• LTM net sales: SEK 2,250.2 million (up 3.7%); EBITA: SEK 314.4 million.

• Earnings per share (adjusted for goodwill): SEK 3.6 (Q3), SEK 11.0 (nine months), SEK 13.3 (LTM).

• Cash flow from operations was SEK 32.6 million in Q3, slightly below last year due to higher working capital needs.

Outlook and guidance

• Short-term outlook remains mixed with no clear economic improvement visible; organic growth expected to remain subdued for the next two quarters.

• Group companies are well-positioned for 2026, with strong financials supporting further acquisitions.

• Ongoing cost adjustments and investments in efficiency and product development are planned.

• Confident in maintaining step-by-step margin improvements and stability into 2026.

• Committed to long-term EBITDA growth target of 15% per year over the cycle.