Samhall (SH) Q3 2025 earnings summary

Executive summary

• Higher gross profit and strong achievement of labor market policy targets contributed to a positive organizational sentiment, despite ongoing financial challenges due to an unsustainable funding model.

• The company continues to deliver on its mission, with high numbers of protected work hours and transitions to external employers, but faces structural financial deficits.

Financial highlights

• Net sales for Jan–Sep 2025 were SEK 2,552 million, up 3% year-over-year; Q3 net sales were SEK 830 million, up 3%.

• Gross profit for Jan–Sep 2025 was SEK 2,220 million (up 2%); gross margin was 87% (88%).

• Operating result for Jan–Sep 2025 was SEK -118 million (220), and Q3 was SEK -5 million (105).

• Period result for Jan–Sep 2025 was SEK -48 million (400); Q3 result was SEK 28 million (162).

• Cash flow for Jan–Sep 2025 was SEK -201 million (112); cash and bank at period end was SEK 1,216 million.

Outlook and guidance

• The company expects continued financial challenges until a revised funding model is implemented, as current state compensation does not cover actual costs.

• Growth is focused on business areas outside of cleaning services to diversify and strengthen the business mix.