Sweden · Delayed Price · Currency is SEK Bravida Holding AB Earnings Call Transcripts
Fiscal Year 2026
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Q2 delivered strong 9% organic growth, record order intake and backlog, and a 7.5% EBITDA margin, with all countries contributing. Major data center contracts and the ABEKA sale boosted results, while a robust balance sheet supports future growth and buybacks.
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Sales and margins improved with net sales above SEK 7 billion, EBITA margin at 4.6%, and order backlog up 7% year-over-year. Denmark showed strong recovery, while Norway remains challenging. A SEK 100 million share buyback was launched and the M&A pipeline is active.
Fiscal Year 2025
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Q4 2025 saw margin improvement to 8.1% and EPS up 17%, driven by Denmark and Norway, despite flat sales and negative organic growth. Cash flow was strong, order intake rose, and the board proposed a higher dividend. M&A activity is expected to accelerate in 2026.
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EBITDA margin rose to 5.3% despite a 2% sales decline, driven by strong performance in Denmark and strict project selection. Order intake increased 5% year-over-year, while cash flow was impacted by timing of large project invoicing.
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Q2 2025 saw a 9% sales decline but a 9% increase in order intake and improved EBITDA margin to 5.4%. Denmark led performance gains, while Sweden and Finland faced tougher markets. Market stabilization is expected, with growth likely resuming in 2026.
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Revenue declined 5% year-over-year to SEK 6.888 billion, but EBITDA margin improved to 4.5% as margin focus and project selectivity offset market headwinds. Order backlog and cash flow strengthened, with all countries showing margin gains and a robust acquisition pipeline.
Fiscal Year 2024
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Sales and margins remained stable despite tough markets, with strong cash flow and improved profitability in Denmark, Norway, and Finland. Service business grew 5%, while installation faced headwinds. The board proposes a higher dividend, and market recovery is expected after summer 2025.
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Q3 featured strong cash flow and cash conversion, with service revenue up 8% and flat overall growth. Restructuring in southern Sweden and Denmark led to one-off costs, while the order backlog remains robust. Market conditions are expected to improve in late H1 or H2 2025.
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Sales grew 5% year-over-year in Q2 2024, driven by strong service growth and acquisitions, while EBITDA margin declined due to challenges in Denmark and southern Sweden. Cash flow and order backlog remain robust, and margin recovery is expected by Q4 2024.