KB Components (KBC) Q1 2025 earnings summary

Executive summary

• Net sales grew 20% year-over-year to SEK 766 million in Q1 2025, driven by acquisitions, with organic growth flat after currency effects.

• EBITDA rose to SEK 112 million (SEK 95 million), with adjusted EBITDA at SEK 113 million (SEK 108 million); adjusted EBITDA margin declined to 14.7% from 16.9%.

• Profit after tax increased to SEK 46 million (SEK 40 million), while adjusted profit after tax was SEK 47 million (SEK 52 million); EPS improved to SEK 0.80 (SEK 0.67).

• Acquisitions in Finland, Estonia, and India contributed to growth and diversification, with JBJ Technologies in India acquired in January 2025.

• Cash flow from operating activities turned positive at SEK 4 million (SEK -4 million), despite negative working capital changes.

Financial highlights

• Net sales: SEK 766 million (SEK 638 million), up 20% year-over-year.

• EBITDA: SEK 112 million (SEK 95 million); adjusted EBITDA: SEK 113 million (SEK 108 million).

• EBIT: SEK 65 million (SEK 58 million); adjusted EBIT: SEK 65 million (SEK 71 million).

• Profit after tax: SEK 46 million (SEK 40 million); adjusted profit after tax: SEK 47 million (SEK 52 million).

• Earnings per share: SEK 0.80 (SEK 0.67).

Outlook and guidance

• Volume development expected to remain stable in the short and medium term across all markets.

• Major new deals in North America to drive strong organic growth from H2 2026; Europe and Asia expected to see continued growth, especially from recent acquisitions.

• Ongoing structural projects and potential future acquisitions may impact production structure.