Tellusgruppen (TELLUS) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 2025 increased by 10.0% year-over-year to 117.8 MSEK, with organic growth of 8.5% and acquired growth of 1.5%.

• EBITDA for Q3 rose to 19.2 MSEK (16.3% margin), up from 12.5 MSEK (11.7% margin) last year.

• Net income for Q3 was 12.3 MSEK, with EPS at 0.69 SEK (up from 0.27 SEK).

• For the first nine months, revenue grew 7.4% to 385.3 MSEK, with EBITDA at 32.2 MSEK (8.4% margin).

• Cash flow from operations for the nine months was 20.0 MSEK, a significant improvement from -3.0 MSEK last year.

Financial highlights

• Adjusted EBIT with goodwill amortization added back was 14.2 MSEK for Q3 and 25.1 MSEK for the nine months.

• Net debt/Adjusted EBITDA (R12) improved to 1.2x from 4.8x year-over-year.

• Solid equity ratio at 9.4% at quarter-end, up from -2.6% last year.

• Cash and equivalents at period end were 4.4 MSEK.

Outlook and guidance

• Focus remains on both organic and acquisition-driven growth, with continued emphasis on profitability and strong cash flow.

• A moderate dividend of 0.10 SEK per share is proposed, reflecting a step toward a stable, growing payout policy.