LumenRadio (LUMEN) Q4 2025 earnings summary

Executive summary

• Q4 2025 net sales were SEK 66.4m, with EBIT of SEK 11.8m and net profit of SEK 10.5m; full-year net sales reached SEK 242.9m, EBIT SEK 24.3m, and net profit SEK 19.1m.

• Q4 revenue declined 2.7% year-over-year, but organic growth was 3.7%; full-year revenue decreased 0.7% with 3.8% organic growth.

• Lighting Control segment saw strong growth, while Building Automation declined but secured a record order.

• EBITDA margin improved to 23.7% in Q4 but was 16.3% for the year.

• Net income per share after dilution was SEK 0.75 for Q4 and SEK 1.36 for the year.

Financial highlights

• Q4 Lighting Control net sales grew 22.4% year-over-year to SEK 43.1m; organic growth of 28.8%.

• Building Automation Q4 net sales declined 29.4% year-over-year to SEK 23.3m; full-year down 23.3%.

• Gross margin for Q4 was 64.8%; full-year gross margin was 62.6%, both above 60%.

• Cash and cash equivalents at year-end were SEK 108.2m.

• Q4 cash flow was SEK 17.9m; full-year cash flow was -8.3m.

Outlook and guidance

• Management expects continued positive momentum in Lighting Control and stable gross margins due to product mix.

• Major smart metering order (USD 5.7m) to begin delivery in Q2 2026, supporting future revenue.

• No dividend proposed; profits to be reinvested for growth.

• Expect continued negative currency effects due to USD and EUR exposure.

• Anticipate increased demand in professional lighting from tax incentives in film/TV production.