Inission (INISS) Q3 2025 earnings summary

Executive summary

• Q3 sales rose 13.5% to SEK 531 million, with organic growth of 4.1% and Selteka contributing 44 MSEK.

• EBITDA reached SEK 29 million, up SEK 2 million year-over-year, and EBITA rose to 28.5 MSEK, with a margin of 5.4%.

• Restructuring and one-off costs, mainly in Enedo, totaled about SEK 6 million in Q3.

• Cash flow from operating activities improved to 3.6 MSEK from -39.5 MSEK year-over-year.

• The Selteka acquisition was completed and integrated, strengthening the group's position in Northern Europe.

Financial highlights

• Order intake for Q3 was 577.6 MSEK, with a backlog of 1,424.6 MSEK.

• Net added value increased by SEK 30 million, with Selteka contributing SEK 28 million.

• Cost level increased by SEK 26.8 million, mostly due to Selteka.

• Earnings per share improved by EUR 0.10 year-over-year; net income per share was 0.7 SEK.

• LTM net sales were close to SEK 2.1 billion, with EBITDA margin at 4.3%.

Outlook and guidance

• Q4 will still be impacted by restructuring costs, but Q1 next year is expected to be free of such costs, showing the full effect of cost reductions.

• 2024 sales are expected between SEK 2.1–2.2 billion, with EBITDA of SEK 105–110 million.

• Revised 2025 revenue target: SEK 2.1–2.2 billion, with EBITA margin target around 5%.

• EMS segment expected to outperform prior year, while Enedo is positioned for profitability improvements from Q1 next year.

• Enedo is expected to reach break-even in Q1 next year.