Sweden · Delayed Price · Currency is SEK Ependion AB Earnings Call Transcripts
Fiscal Year 2026
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Order intake and sales reached record highs, with EBITA up 30% and net profit up 50% year-over-year. Growth was driven by energy and trackside segments, Welotec integration, and Beijer Electronics' transformation, despite ongoing supply chain and macroeconomic challenges.
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Record order intake and improved profitability marked the quarter, with broad-based growth across segments and geographies. EBITDA margin rose to 12.5%, and net profit increased 27% year-over-year, while the company remains cautiously optimistic amid ongoing geopolitical uncertainty.
Fiscal Year 2025
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Order intake and sales grew modestly, with strong free cash flow and improved gross margins, despite significant currency headwinds and component cost pressures. The Welotec acquisition and new defense focus supported growth, and the board proposes a higher dividend.
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Q3 saw improved earnings, 11% order growth, and a 10% sales increase, with strong contributions from the Welotec acquisition and a minority investment in RazorSecure. EBIT margin rose to 11.6%, but market uncertainty and FX headwinds persisted.
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Order intake rose 16% year-over-year, with EBIT margin improving to 11% and strong cash flow. Welotec's acquisition and the X3 HMI launch support future growth, though near-term uncertainty persists due to market and FX headwinds.
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Order intake rose 5% year-over-year, but sales declined 8-9% due to tough comparisons and FX headwinds. Profitability was pressured by non-recurring costs and weak Beijer Electronics results, while the Welotec acquisition strengthens the energy segment.
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The acquisition strengthens the company’s position in the energy sector and adds edge computing capabilities, supporting strategic growth in digital infrastructure. Financial terms include a €35.2M initial payment and up to €14.8M earn-out, with integration expected in Q2.
Fiscal Year 2024
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Q4 saw a 20% year-over-year order intake increase and improved profitability, with Westermo achieving record EBIT margins and Beijer Electronics progressing in its product mix shift. Cautious optimism prevails for 2025 amid ongoing market uncertainties.
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Q3 2024 saw continued weak demand and lower sales, but gross margin and cash flow improved due to cost control and normalized input costs. Strategic investments in India and new product launches continue, with a positive medium-term outlook despite ongoing market uncertainty.
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Q2 2024 saw continued weak demand, with order intake and sales down year-over-year, but free cash flow doubled due to working capital improvements. Strategic investments in Blu Wireless and Westermo India continued, while cost-saving measures were implemented. Market uncertainty is expected to persist through 2024.