Increased profits, profitability and stable cash flow. In the fourth quarter, organic sales increased by 4.0% in constant currency and an increase of 1.5% for the full year 2025. Our focus on operational efficiency during the year means that EBITA increased by SEK 5.1 million in the fourth quarter, while the EBITA margin amounted to 19.0% (17.0%). Cash flow from operating activities improved further, driven by an improved capital structure in the first half of 2025. ADDvise has applied for delisting of its shares and warrants from Nasdaq First North since Amplex AB became owner of more than 90% of the shares in ADDvise. The last day of trading is February 17, 2026.
October-December 2025
Net revenue was SEK 422.4 million (441.6), an organic decrease of 4.3%, an organic increase of 4.0% net of currency effects
Orders received was SEK 417.6 million (504.3), an organic decrease of 17.2%, a decrease of 10.0% net of currency effects
EBITA was SEK 80.2 million (75.1), an increase of 6.8%
Operating profit (EBIT) was SEK 67.8 million (67.7)
Profit for the period was SEK 4.3 million (5.5) and adjusted profit for the period was SEK 43.5 million (6.5).
Basic earnings per share amounted to SEK 0.01 (0.02)
Operating cash flow was SEK 51.7 million (49.2), an increase of 5.1%
January-December 2025
Net revenue was SEK 1,605.7 million (1,670.7), an organic decrease of 3.9%, an organic increase of 1.5% net of currency effects
Orders received was SEK 1,574.0 million (1,866.1), an organic decrease of 15.7%, a decrease of 10.8% net of currency effects
EBITA was SEK 273.3 million (270.9), an increase of 0.9%
Operating profit (EBIT) was SEK 232.0 million (292.9)
Profit for the year was SEK 3.1 million (90.0) and adjusted profit for the year was SEK 99.0 million (47.1).
Basic earnings per share amounted to SEK 0.01 (0.35)
Operating cash flow was SEK 140.5 million (61.7), an increase of 127.7%
Net debt to EBITDA was 3.0 times (3.8)
The Board of Directors proposes that no dividend be paid in respect of the year 2025
CEO's comment
Profit growth and stable cash flow
Improved profitability and profit growth. In the fourth quarter, sales increased by 4.0% in constant currency, mainly driven by high activity in Lab. For the full year 2025, we also see positive sales growth of 1.5%, with Healthcare in particular contributing to the increase during the year. EBITA increased by 6.8% to SEK 80.2 million in the quarter, driven by strengthened profitability in Healthcare and continued high focus on efficiency improvements in the Group. EBITA for January-December 2025 increased by SEK 2.4 million compared to the previous year and the EBITA margin strengthened to 17.0% (16.2%) for the full year.
We see good demand in Europe as well as in North and South America for both medical equipment and laboratory equipment during the fourth quarter. On the other hand, we saw lower activity in diabetes consumables in the quarter, which is partly explained by temporary supply problems from a major supplier and increased focus on profitable growth. We have also had some limited negative effects locally as a result of the 40-day shutdown of the US government apparatus in the autumn, which affected compensation to some of our customers during the lockdown.
Cash flow from operating activities is stable and amounted to SEK 51.7 million in the fourth quarter, an increase of 5.1% compared to the previous year. Working capital increased by SEK 11.8 million during the quarter and is mainly due to increased invoicing towards the end of the year. Profit growth and stable cash flow remain our main focus and the key to long-term success and value creation.
Financing costs amounted to SEK 20.3 million in the fourth quarter, a decrease compared to the corresponding period last year when the cost was SEK 43.2 million. The improvement is a direct effect of the improved capital structure that we implemented in the first half of 2025.
In December 2025, Amplex AB announced a takeover offer to acquire all outstanding shares and warrants in ADDvise. The offer was well received, with over 90% of the shareholders accepting the offer. Thus, ADDvise has applied for delisting from Nasdaq First North with the last day of trading in the share on February 17, 2026.
We are now looking forward to continuing our journey in a private environment. As part of the Amplex group, we see good conditions for long-term growth and development of ADDvise. Amplex will be able to contribute with both know-how and resources to take ADDvise forward.
I would like to extend a big thank you to all employees for your fantastic work and commitment during the year, thanks also to the Board of Directors and all shareholders who have been involved in building ADDvise. Together, we contribute to saving, extending, and improving people's lives every day.
Staffan Torstensson, CEO
For further information, please contact:
Staffan Torstensson, CEO
+46 (0) 70-433 20 19
staffan.torstensson@addvisegroup.se
Johan Irwe, CFO
+46 (0) 73-731 26 11
johan.irwe@addvisegroup.se
Important information:
This information was submitted for publication on February 12, 2026 at 07:45 CET.
ADDvise's financial reports are available on ADDvise's website, https://www.addvisegroup.com/investor-relations/financial-and-annual-reports/
The year-end report is published in Swedish and English. The Swedish version represents the original.
About ADDvise
ADDvise is an international life science group. Operating a decentralised ownership model, we develop and acquire high quality companies within the business areas Lab and Healthcare. The Group comprises more than 20 companies and generates annual revenues of close to SEK 1.6 billion. ADDvise is listed on Nasdaq First North Premier Growth Market. Mangold Fondkommission AB,
+46 8 503 015 50, CA@mangold.se, is the company's Certified Adviser. More information is available at www.addvisegroup.com.
