MT Højgaard Holding (MTHH) Q4 2025 earnings summary

Executive summary

• Revenue reached DKK 10.2 billion in 2025, with EBIT of DKK 429 million, matching prior year operational performance, excluding one-off land sales in 2024.

• Achieved high activity levels in both business units, delivering on 2025 outlook with solid operational results and reduced one-off income.

• Transformation completed with integration of Property Development, divestment of international activities, and group restructuring, creating a sustainable, focused business.

• Board proposes a dividend of DKK 10 per share, a 29% payout ratio, reflecting strong financial position.

• Order intake grew 15% to DKK 10.3 billion, driving the order portfolio to an all-time high of DKK 24.2 billion.

Financial highlights

• Revenue increased by 4% year-over-year to DKK 10,682 million in 2025.

• Operating profit (EBIT) rose 13% to DKK 486 million, with an EBIT margin of 4.5%.

• Net profit from continuing operations was DKK 313 million, with total net profit up 42% to DKK 268 million after reduced losses from discontinued operations.

• Cash flow from operations improved to DKK 181 million from DKK 25 million year-over-year.

• Gross margin increased from 7.7% to 7.9% despite lower revenue.

Outlook and guidance

• Revenue for 2026 expected in the DKK 10–10.5 billion range, with operating profit projected at DKK 400–450 million.

• Net profit anticipated to improve for the fifth consecutive year, with continued focus on cash flow and return on invested capital.

• Strategy targets above-market growth and increased profitability from 2027, with EBIT margin ambition of 4-5%.