Tången Industrikapital (TANGEN) Q4 2025 earnings summary

Executive summary

• Achieved significant profitability improvement and ensured a diversified portfolio across business, market, and economic cycles.

• 2025 marked by strategic acquisitions in all business areas, strengthening long-term value and returns.

• Focused on integrating new companies and developing existing operations, with ongoing acquisition dialogues.

• Maintained strong cash flow, low leverage, and a robust financial platform for continued growth.

Financial highlights

• Net sales for 2025 reached SEK 1,595.2m (2024: SEK 1,168.1m), with organic growth of 5% (10%).

• EBIT increased by 46.4% to SEK 143.8m (98.2m).

• Adjusted EBITA was SEK 166.0m (10.4% margin), up from SEK 111.2m (9.5%).

• Operating cash flow was SEK 180m, with cash conversion at 104% (2024: 79%).

• Equity at year-end was SEK 1,382m, with a solid equity ratio of 50%.

• Net debt at year-end was SEK 355m, net debt/EBITDA at 1.05.

• Liquidity at year-end was SEK 459m (128m in 2024).

Outlook and guidance

• Positive signals from increased inquiries, strong order intake, and continued customer investment appetite.

• Expect some market caution in early 2026 due to ongoing macroeconomic uncertainty.

• Strategy remains focused on flexibility, developing existing companies, and attracting new niche Nordic businesses.