Reporting period January - December
- Net sales increased 8.1 per cent to SEK 28,251 (26,137) million. Organically, net sales grew by 4.2 per cent.
- EBITA increased 6.8 per cent to SEK 6,318 (5,917) million.
- The EBITA margin was 22.4 (22.6) per cent.
- Profit before tax grew 6.8 per cent to SEK 4,756 (4,454) million.
- Net profit for the period grew 9.6 per cent to SEK 3,669 (3,349) million.
- Earnings per share increased 10.0 per cent to SEK 8.00 (7.27).
- Cash flow from operating activities increased 10.7 per cent to SEK 5,124 (4,630) million.
- 16 new businesses were consolidated during the year with estimated total annual net sales of about SEK 2.2 billion on the acquisition dates.
- Dividend per share is proposed at SEK 2.70 (2.40) per share, corresponding to SEK 1,226.4 (1,090.1) million.
Reporting period October - December
- Net sales increased 5.7 per cent to SEK 7,534 (7,125) million. Organically, net sales grew by 3.8 per cent.
- EBITA increased 5.2 per cent to SEK 1,717 (1,633) million.
- The EBITA margin was 22.8 (22.9) per cent.
- Profit before tax grew 4.7 per cent to SEK 1,319 (1,260) million.
- Net profit for the period grew 7.0 per cent to SEK 1,046 (978) million.
- Cash flow from operating activities increased 22.8 per cent to SEK 1,986 (1,617) million.
Summary of financial performance
President and CEO Net sales increased 8.1 per cent to SEK 28,251 (26,137) million. Acquisitions contributed 7.4 per cent and organic growth amounted to 4.2 per cent. Exchange rate effects had a negative impact on sales of 3.5 per cent. All three business areas contributed to the organic growth. The Italian companies Nobil Bio Ricerche, Toppy and UR FOG, the Dutch companies Citodent Imaging, Klemko Group and HedoN Electronic Developments, the UK companies DB Orthodontics, Heavy Duty Parts and MaxiMover, the German companies Fraga Dental and HEGUtechnik, the Swiss company Arnold Deppeler, the Swedish company Gestenco International, the Sammarinese company Italgears, the Danish company R&T Stainless and the Austrian company Stöffl were consolidated during the year. These acquisitions had estimated total annual net sales of about SEK 2.2 billion on the acquisition dates. EBITA increased 6.8 per cent to SEK 6,318 (5,917) million, driven by acquisitions, and the EBITA margin amounted to 22.4 (22.6) per cent. Exchange rate changes had a negative impact on EBITA of 3.1 per cent. During the year, 47 (46) per cent of EBITA was generated in EUR, 17 (18) per cent in SEK, 14 (14) per cent in GBP, 9 (11) per cent in NOK, 6 (5) per cent in DKK, 2 (3) per cent in USD and 4 (3) per cent in other currencies. Net financial items improved to SEK -414 (-442) million. Profit before tax grew 6.8 per cent to SEK 4,756 (4,454) million. Net profit for the period grew 9.6 per cent to SEK 3,669 (3,349) million. Average capital employed excluding goodwill increased SEK 138 million during the year to EBITA increased 5.2 per cent to SEK 1,717 (1,633) million, driven primarily by acquisitions. Exchange rate changes had a negative impact on EBITA of 4.6 per cent. The EBITA margin was 22.8 (22.9) per cent. During the fourth quarter, 49 (48) per cent of EBITA was generated in EUR, 16 (17) per cent in SEK, 15 (14) per cent in GBP, 9 (9) per cent in NOK, 6 (7) per cent in DKK, 0 (2) per cent in USD and 4 (3) per cent in other currencies. Net financial items were SEK -97 (-90) million. Profit before tax grew 4.7 per cent to SEK 1,319 (1,260) million. Net profit for the period grew 7.0 per cent to SEK 1,046 (978) million. Average capital employed excluding goodwill declined by SEK 2 million to SEK 4,770 million at 31 December 2025, compared with SEK 4,772 million at 30 September 2025. EBITA in relation to average capital employed excluding goodwill increased by 1 percentage point from 30 September 2025 and amounted to 132 per cent. From 30 September 2025, the Group's net debt decreased SEK 1,216 million to SEK 12,048 million at the end of the quarter. Interest-bearing net debt fell during the quarter by SEK 1,348 million to SEK 7,801 million. Cash flow from operating activities increased 22.8 per cent to SEK 1,986 (1,617) million due to higher operating profit and reduced capital tied up. Cash flow from investing activities was SEK -590 (-1,499) million, which was mainly attributable to acquisitions. FINANCIAL PERFORMANCE - BUSINESS AREAS Dental
The companies in Lifco's Dental business area are leading suppliers of consumables, equipment and technical service to dentists across Europe, and the business area also has operations in the US. Lifco sells dental technology to dentists in the Nordic countries and Germany, and develops and sells medical record systems in Denmark, Sweden and Germany. The business area also includes a number of manufacturers which produce, inter alia, fitting products for dentures, disinfectants, saliva ejectors, bite registration and dental impression materials, bonding agents and other consumables that are sold to dentists through distributors around the world. Net sales in Dental increased 0.4 per cent to SEK 6,331 (6,306) million during the year as a result of acquisitions and organic growth. EBITA increased 1.8 per cent to SEK 1,331 (1,307) million during the year and the EBITA margin increased to 21.0 (20.7) per cent. EBITA was positively impacted by acquisitions. During the year, Swiss Arnold Deppeler, British DB Orthodontics, German Fraga Dental, Swedish Gestenco International, Dutch Citodent Imaging and Italian Nobil Bio Ricerche were consolidated. Demolition & Tools
Through its operating units, the Systems Solutions business area operates in industries offering systems solutions. Systems Solutions is divided into five divisions: Contract Manufacturing, Environmental Technology, Infrastructure Products, Special Products and Transportation Products. Net sales in Systems Solutions increased 13.2 per cent to SEK 15,160 (13,387) million during the year due to acquisitions and organic growth. EBITA increased by 7.8 per cent to SEK 3,483 (3,230) million and the EBITA margin declined by 1.1 percentage points to 23.0 (24.1) per cent due to negative organic growth in parts of Systems Solutions. Contract Manufacturing reported strong organic sales growth for the year with weaker profitability. The German company HEGUtechnik was consolidated during the year. Environmental Technology reported a weak increase in sales in 2025 with slightly weaker profitability. Infrastructure Products reported a strong sales trend and improved profitability during the year, primarily as a result of acquisitions. Sammarinese Italgears, Danish R&T Stainless, Dutch Klemko Group and Italian UR FOG were consolidated during the year. Special Products saw good sales growth during the year due to acquisitions. The weak market situation during the year led to negative organic growth and reduced profitability. The Dutch company HedoN Electronic Developments and the Austrian company Stöffl were consolidated during the year. Transportation Products saw good sales growth during the year with stable profitability as a result of acquisitions. The market situation was weak during the year, which resulted in reduced organic sales and EBITA. The UK companies Heavy Duty Parts and MaxiMover and the Italian company Toppy were consolidated during the year. ACQUISITIONS Lifco consolidated the following acquisitions during the year:
FINANCIAL CALENDAR Tuesday 28 April was announced as the date for the Annual General Meeting in the report for the third quarter of 2025. FURTHER INFORMATION Time: Friday, 30 January at 9:00 a.m. CET Link to the presentation: https://lifco.events.inderes.com/q4-report-2025 If you wish to participate at the telephone conference, you can register using the link below. Following registration, you will receive a telephone number and a conference ID to log in to the conference. Link to register for the telephone conference: https://conference.inderes.com/teleconference/?id=50051765 CONDENSED CONSOLIDATED INCOME STATEMENT
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Net sales by significant type of income:
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