XPartners Group delivered a stable third quarter with solid growth and improved earnings. Net sales increased by 147% year-on-year to MSEK 747. EBITA excluding items affecting comparability increased to MSEK 105, corresponding to a margin of 14.1%. The market continues to show a mixed picture, with variations between competence areas and geographies.
Third quarter, July-September
- Net sales increased by 147% to MSEK 747 (303)
- EBITA excluding items affecting comparability increased by 119% to MSEK 105 (48), corresponding to a margin of 14.1% (16.0)
- EBITA increased by 146% to MSEK 69 (28), corresponding to a margin of 9.2% (9.4)
- EBIT increased by 162% to MSEK 68 (26), corresponding to a margin of 9.1% (8.7)
- Profit after tax increased to MSEK 16 (-18)
- Net debt amounted to MSEK 2,059 (721)
Period, January-September
- Net sales increased by 175% to MSEK 2,114 (769)
- EBITA excluding items affecting comparability increased by 161% to MSEK 342 (131), corresponding to a margin of 16.2% (17.0)
- EBITA increased by 174% to MSEK 230 (84), corresponding to a margin of 10.9% (10.9)
- EBIT increased by 183% to MSEK 229 (81), corresponding to a margin of 10.8% (10.6)
- Profit after tax increased to MSEK 60 (4)
- Net debt amounted to MSEK 2,059 (721)
- Adjusted EBITDA LTM (pro forma) was MSEK 6661
- Net debt/Adjusted EBITDA LTM (pro forma) was 3.1x (2.2) at period-end
Significant events during and after the third quarter
- Eight acquisitions closed during the quarter, with a further six completed after quarter-end, in total, 30 companies have joined during the year
- Magnus Trollius has been appointed Managing Director of XPartners Sweden and took office in November
- Christian Nørgaard Madsen has been appointed Managing Director of XPartners Norway and will take office in January 2026
- The Group's bond was admitted to trading on Nasdaq STO FN Transfer Market
- The parent company has changed its name to XPartners Group AB (publ)
- The Group's Board of Directors has been expanded, with Olaf Demuth being elected to the Board
Comments from President and CEO Sonny Mirborn:
"Stable Results and Strong Growth
XPartners Group delivered a stable third quarter with solid growth and improved earnings. Net sales increased by 147% year-on-year to MSEK 747. EBITA including items affecting comparability rose to MSEK 69, corresponding to a margin of 9.2%, while EBITA excluding items affecting comparability increased to MSEK 105, corresponding to a margin of 14.1%.
Financial development
The market continues to show a mixed picture, with variations between competence areas and geographies. Sweden developed steadily with healthy demand and sound margins. Norway also delivered strong results, and we see good opportunities for continued profitable growth. In Denmark delayed project starts in the life science sector had some slight impact on earnings and margins, while a solid market in other areas kept overall demand stable. Finland continues to grow profitably in a gradually improving market, with increasing collaboration opportunities and network effects as more companies join.
Eight acquisitions closed in the quarter
We remain positive on the acquisitions market and work methodically to build and pursue a pipeline of successful, well-managed companies. Interest in becoming part of XPartners remains strong, with many high-quality entrepreneur-led businesses approaching us. During the quarter, eight acquisitions closed, strengthening our capabilities, broadening the customer base and increasing network effects. In parallel, we are preparing for growth in Germany and the Netherlands by strengthening local leadership, establishing governance and readying processes for further expansion.
Entrepreneurship as a business model
Our goal is to build one of Northern Europe's leading platforms in the built-environment sector by supporting entrepreneur-led specialist companies. Companies that join our group continue to run their businesses and retain their brand, leadership and culture. At the same time, they gain access to more customer relationships, deeper specialist competence, business-development and leadership support, and the financial stability that enables long-term decisions. XPartners is building a group where collaboration drives profitable organic growth, and well-selected acquisitions strengthen both the customer and employee offering.
In summary, our entrepreneurial model continues to demonstrate its strength through solid results, stronger collaboration between companies, high employee engagement and strong appeal to new entrepreneurs. We will continue to bring together leading specialist companies to accelerate the sustainable development of the built environment and create long-term value for our customers, our companies and society at large."
1 Defined and calculated in accordance with terms and conditions of the senior secured floating rate bonds
This is a translation of the Swedish original. The Swedish text is the binding version and shall prevail in the event of any discrepancies.
For more information, please contact:
Arvid Linder, Chief Communications Officer, XPartners
arvid.linder@xpartnersgroup.com
+46 70-779 58 98
This information is information that XPartners Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-11-27 08:00 CET.
About XPartners
XPartners Group AB (publ) is a Nordic consulting group within engineering and design. The group brings together more than 1,800 specialists who advise clients in infrastructure, buildings, energy, and the environment. It consists of approximately 60 entrepreneur-led companies supported by a shared platform for collaboration and growth. On a pro forma basis, annual revenue is above SEK 3.5 billion and the company is primarily owned by its employees, with backing from the private equity firm Axcel. www.XPartnersGroup.com
Image Attachments
Sonny Mirborn