Third quarter (1 October-31 December 2025)
- Revenue amounted to MSEK 1,257 (1,264).
- Operating profit (EBITA) increased by 12 percent to MSEK 135 (121) and the EBITA margin improved to 10.7 percent (9.6).
- Net profit increased by 13 percent to MSEK 61 (54) and earnings per share after dilution increased to SEK 2.15 (1.95).
- Cash flow from operating activities totalled MSEK 125 (207).
- Two acquisitions were completed, with annual revenue of approximately MSEK 75.
- A new divisional structure was introduced.
Nine months (1 April-31 December 2025)
- Revenue amounted to MSEK 3,703 (3,661).
- Adjusted for items affecting comparability, operating profit (EBITA) increased by 11 percent to MSEK 398 (360) and the adjusted EBITA margin improved to 10.7 percent (9.8).
- Net profit totalled MSEK 152 (167).
- Cash flow from operating activities amounted to MSEK 419 (481).
- Eight acquisitions have been completed, one of which after the end of the period, with total annual revenue of approximately MSEK 520.
- For the most recent 12-month period, adjusted earnings per share after dilution amounted to SEK 8.50. Earnings per share after dilution amounted to SEK -2.50 (-1.95 for the 2024/2025 financial year).
- Logistikpartner i Ulricehamn AB was divested on 13 January.
CEO's comments
We are continuing to improve our earnings, despite persistent market variations in both construction and industry. Operating profit (EBITA) increased to MSEK 135 for the quarter, an improvement of 12 percent, in spite of the divestments we conducted which corresponded to annual EBITA of just over MSEK 45. We also improved our EBITA margin by 1.1 percentage points to 10.7 percent.
After several quarters of negative organic revenue growth, partly due to a deliberate phase-out of certain business, it is encouraging that we can once again report revenue growth of 4 percent for comparable units. This comes while Luna, which is in a transition phase, has reduced its revenue in the quarter. Our profitability (P/WC) was positive and now amounts to 35 percent. Cash flow from operating activities remains strong, highlighting our ability to increase our capital efficiency while also increasing our profit. Adjusted earnings per share continued to improve and we delivered SEK 8.50 per share for the rolling 12-month period, compared with SEK 7.55 for the year-earlier period.
Overall, the quarter was a reflection of the business acumen, adaptability and operational discipline of our Group and our companies.
Structural measures for an even stronger B&B
The geopolitical situation is difficult to assess. There are certainly macroscenarios that could throw a wet blanket on some of the more positive developments that were prevailing when we rang in the New Year, such as increased investments in the Nordic construction sector. However, we believe that there are still good opportunities for a gradual increase in demand in 2026, though historically speaking it often takes several quarters before new customer investments impact order intake at our companies.
Our strategy remains unchanged: build a portfolio of niched, highly profitable technology companies with strong market positions and attractive growth potential. As demand in construction and industry grows, our "acquisition engine" and our "organic engine" are both well positioned to shift up a gear.
Stockholm, February 2026
Magnus Söderlind
President & CEO
For further information please contact:
Peter Schön, CFO, Tel: +46 70 339 89 99
This information is information that Bergman & Beving 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 2026-02-04 07:45 CET.
Bergman & Beving, founded in 1906, is a Swedish listed group that acquires and develops leading companies with an eternal ownership horizon. The Group's autonomous companies work in expansive niches where they provide value-adding solutions for industrial and construction clients. Each company operates with great freedom on the basis of a decentralized management model that has been creating growth, profitability and sustainable development for more than 100 years. Bergman & Beving is listed on Nasdaq Stockholm, has approximately 1,400 employees and a turnover of approximately SEK 5 billion. The Group consists of about 35 companies represented in more than 25 countries. Read more about our operations at bergmanbeving.com.
