Fourth quarter (October - December 2025)
• Net sales amounted to SEK 834.7 million (854.1), a decrease of -2.3 percent. Organic growth for comparable units was -9.0 percent (5.5). Adjusted for currency effects organic growth for comparable units amounted to -7.4 percent.
• EBITA amounted to SEK 61.2 million (85.4) and the EBITA margin was 7.3 percent (10.0). Transaction cost related to acquisitions affected the result by SEK -6.9 million (-1.1).
• EBIT amounted to SEK 44.6 million (70.6).
• Cash flow from operating activities amounted to SEK 90.8 million (29.5).
Period (January - December 2025)
• Net sales amounted to SEK 2,943.2 million (3,026,9), a decrease of -2.8 percent. Organic growth for comparable units was -7.6 percent (3.7). Adjusted for currency effects organic growth for comparable units amounted to -6.4 percent.
• EBITA amounted to SEK 223.4 million (304.8) and the EBITA margin was 7.6 percent (10.1). Transaction cost related to acquisitions affected the result by SEK -6.9 million (-2.1).
• EBIT amounted to SEK 161.6 million (246.9).
• Cash flow from operating activities amounted to SEK 178.1 million (122.0).
• As of December 31, 2025, equity amounted to SEK -67.2 million (227.9) and the equity/assets ratio to -1.9 percent (6.6), affected by a negative result after tax. A test has been carried out regarding the need for impairment of fixed assets. Based on valuation models, the company has found that the recoverable value exceeds the book values. The underlying values can therefore be justified.
• The Parent Company, Novedo Holding AB (publ), has positive equity of SEK 464.5 million, corresponding to an equity/assets ratio of approximately 16 percent as of the balance sheet date. Upon full conversion of outstanding convertible loans, the equity/assets ratio would amount to approximately 36 percent.
• According to current financing terms, no dividends may be paid if the company's shares are unlisted.
Significant events after the balance sheet date
• Novedo appointed Magnus Nordgren as interim CFO.
Per-Johan Dahlgren, President and CEO of Novedo, comments on the full year 2025:
Geopolitical uncertainty and weaker economic growth led to a cautious market in 2025. Several companies also experienced a tough end to the year. However, the order situation improved, which may indicate that the market climate is on the way to becoming more favourable.
During the year, we completed three acquisitions, one of which was an add-on. Our first acquisition in Finland, UKR Oy, strengthens our offering in facade renovations and creates new opportunities for collaboration within the Novedo Group. The acquisition of Falks Markentreprenad has given us a strong position in ground and civil engineering works in the Västra Götaland region. Through the add-on acquisition of Desrock, which operates in the areas of exploration, energy and well drilling, we are broadening our offering and increasing our geographical presence in northern Sweden.
In line with Novedo's strategy, our portfolio consists of wellestablished companies with strong market positions and good geographical and operational diversification. Our decentralised business model preserves entrepreneurship and enables decisions to be made close to customers and markets, thereby facilitating long-term sustainable value creation. The companies are well positioned to meet changing market conditions and are well placed to benefit from a gradually improving business climate.
For more information, please contact:
Per-Johan Dahlgren, President and CEO
per-johan.dahlgren@novedo.se
Mobil: +46 (0)705 97 06 44
About Novedo
Novedo is a growing European industrial group with approximately SEK 3 billion in annual sales. It comprises regionally market-leading and profitable small and medium-sized B2B companies with a solid and diversified customer base across three segments: Industry, Infrastructure, and Installation & Services. The company employs an active growth strategy to expand through acquisitions and organic growth. For more information, visit www.novedo.se.
This information is information that Novedo 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 2026-02-25 07:30 CET.
