KB Components (KBC) Q3 2025 earnings summary

Executive summary

• Q3 showed regional divergence: Europe and Asia delivered higher sales and profitability, while North America experienced lower sales and weaker results due to market uncertainty, project delays, and customer-specific disruptions.

• Group sales for Q3 were SEK 616 million, flat year-over-year, with 18% acquired growth, -3% currency effect, and -15% organic growth adjusted for currency.

• Recent acquisitions in Estonia, Finland, India, and Germany expanded the group's footprint, strengthened its customer base, and contributed to sales growth, especially in Europe and Asia.

Financial highlights

• Q3 sales: SEK 616 million (SEK 614 million last year); year-to-date sales: SEK 2,076 million (SEK 1,903 million last year).

• Adjusted EBITDA Q3: SEK 85 million (SEK 102 million), margin 13.8% (16.6%); year-to-date: SEK 294 million (SEK 315 million), margin 14.2% (16.6%).

• Adjusted EBIT Q3: SEK 39 million (SEK 64 million), margin 6.3% (10.4%); year-to-date: SEK 154 million (SEK 198 million), margin 7.4% (10.4%).

• EPS Q3: SEK 0.27 (SEK 0.60 last year); year-to-date: SEK 1.83 (SEK 1.78 last year).

• Operating cash flow Q3: SEK 67 million (SEK 52 million last year); year-to-date: SEK 257 million (SEK 97 million last year).

Outlook and guidance

• Volume development expected to remain stable at year-to-date 2025 levels across all markets.

• Cost-saving measures in North America are expected to positively impact Q4 margins.

• No major plant closures anticipated in Q4; Rivian-related volumes expected to normalize, with R2 ramp-up contributing from Q2 2026.

• The group is positioned to adapt quickly to changing market conditions due to its global footprint.