Prevas (PREV) Q4 2025 earnings summary

Executive summary

• Q4 2025 saw stable revenue with net sales at SEK 432.3 million, slightly above last year, and operating profit increased with EBITA up 7.7% year-over-year and a margin of 8.1%.

• Full-year revenue reached SEK 1,627.0 million, up 2.5%, with EBITDA/EBITA margin at 7.5%.

• Profitability improvements were driven by efficiency measures, especially in Finland, and strong growth in the defense and cybersecurity sectors.

• Strong operating cash flow and a proposed dividend of SEK 4.0 per share, representing 73% of profit after tax.

• The company completed the acquisition of OIM Sweden AB and divested InfoVis AB, both with marginal earnings impact.

Financial highlights

• Q4 EBITA/EBITDA rose to SEK 35.1 million, margin 8.1% (up from 7.5% last year).

• Full-year EBITA was SEK 121.4 million (down from SEK 148.9 million); EBITA margin 7.5%.

• Q4 EPS was SEK 1.67; full-year EPS was SEK 5.49.

• Operating cash flow for Q4 was SEK 40.6 million; full-year operating cash flow reached SEK 144 million.

• Proposed dividend per share is SEK 4.00, payout ratio 73%.

Outlook and guidance

• Larger projects scheduled for delivery in Q1 and Q2 2026, especially in Finland.

• Entering 2026 with a strong order book, especially in Finland and defense.

• Continued prioritization of defense sector and ongoing search for M&A opportunities.

• Profitability improvement remains the top priority moving into 2026.

• Continued focus on efficiency, organic growth, and strategic acquisitions.