Wästbygg Gruppen (WBGR) Q2 2025 earnings summary

Executive summary

• Divestment of the residential development portfolio completed, shifting focus to less capital-intensive, partner-driven projects and strengthening cash position.

• Order intake for January–June rose to SEK 1,748 million from SEK 1,020 million year-over-year, with a well-distributed mix across group companies.

• Underlying operating profit was positive, but significant one-off write-downs and property sales led to a reported operating loss.

• The group maintains a strong equity ratio and has no overdue supplier or government debts.

Financial highlights

• Segment reporting: Revenue SEK 2,181 million (2,213), operating profit SEK -86 million (-78), profit after tax SEK -273 million (-66), EPS SEK -6.41 (-2.03) for Jan–Jun 2025.

• IFRS: Revenue SEK 2,162 million (2,114), operating profit SEK -243 million (-69), profit after tax SEK -281 million (-69), EPS SEK -6.57 (-2.14) for Jan–Jun 2025.

• Cash flow from operating activities SEK -88 million (49), interest-bearing net debt SEK -377 million (150), equity ratio 31% (32%).

• Order backlog at 30 June SEK 3,595 million (4,999).

• One-off costs of SEK 125 million (segment) and SEK 280 million (IFRS) mainly from write-downs related to unsold apartments and property transactions.

Outlook and guidance

• Market shows early signs of recovery, but uncertainties remain, especially in residential construction.

• Focus will be on core construction business and contract assignments, with reduced capital tied up in self-developed projects.

• Liquidity expected to improve in Q3 following project handovers and the Klövern transaction.