Ogunsen (OGUN) Q4 2025 earnings summary

Executive summary

• Q4 2025 marked a return to growth with net sales up 0.8% year-over-year, the first quarterly increase since Q2 2023, driven by higher demand in consulting and improved recruitment activity late in the quarter.

• Full-year 2025 saw a 4.6% decline in net sales compared to 2024, but the pace of decline slowed and market signals turned more positive in late 2025.

• EBIT and net profit improved significantly in Q4, with EBIT margin rising to 5.2% from 2.5% and net profit up 76% year-over-year.

• The board proposes a dividend of 1.50 SEK per share for 2025.

Financial highlights

• Q4 2025 net sales: 115.3 MSEK (up 0.8% year-over-year); full-year 2025: 443.0 MSEK (down 4.6%).

• Q4 EBIT: 6.0 MSEK (2.8 MSEK in Q4 2024); EBIT margin: 5.2% (2.5%).

• Q4 net profit: 4.8 MSEK (2.7 MSEK); EPS: 0.45 SEK (0.25 SEK).

• Full-year EBIT: 18.2 MSEK (26.5 MSEK); EBIT margin: 4.1% (5.7%).

• Full-year net profit: 14.2 MSEK (21.0 MSEK); EPS: 1.32 SEK (1.95 SEK).

• Operating cash flow Q4: 19.1 MSEK (9.5 MSEK); full-year: 29.0 MSEK (23.5 MSEK).

Outlook and guidance

• Early 2026 demand remains at Q4 2025 levels; management expects gradual improvement in market conditions and is focused on growth and higher profitability.

• Continued investment in AI and digitalization to drive value and efficiency in 2026.