Sweden · Delayed Price · Currency is SEK Inission AB Earnings Call Transcripts
Fiscal Year 2025
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Q4 saw 23.7% sales growth and strong cash flow, with EBITDA up SEK 20.8 million year-over-year. Non-recurring costs from the AXXE acquisition impacted EPS, but the outlook remains positive with targets for higher margins and continued growth.
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Q3 saw 13.5% sales growth and improved EBITDA, driven by the Selteka acquisition and EMS strength, while Enedo continued restructuring with significant one-off costs. Break-even for Enedo is targeted for Q1 next year, and full recovery is expected as restructuring costs subside.
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Q2 saw a 6.2% sales decline and lower EBITDA, but cost savings and a stable order book support optimism for H2 recovery. The Selteka acquisition and new facilities are expected to drive growth, while Enedo aims for break-even by year-end.
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Turnover for 2024 was SEK 2.15 billion with EBITDA margin at 5.8%, but Q1 2025 sales fell 17% and margin dropped to 4.1%. Management maintains 2025 guidance despite increased macro uncertainty, intensifying cost reductions and leveraging a strong order book, while preparing for further acquisitions.
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Strong growth continues with a focus on acquisitions, organic expansion, and operational efficiency. Financial targets include 15% annual growth and 9% EBITDA margin mid-term, supported by a decentralized structure and investments in capacity. Defense and electrification trends offer new opportunities.
Fiscal Year 2024
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Q4 saw a 4% sales decline and margin compression, but strong order intake and cash flow. Cost reductions continue, with further effects expected by Q2. 2025 guidance is conservative, targeting SEK 2.2 billion revenue and >6% EBITDA margin.
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The company is navigating a challenging market with a focus on cost control, integration of recent acquisitions, and a revised financial outlook. Growth is expected to resume in H2 next year, with ongoing operational improvements and a strategic shift toward geographic expansion.
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Q3 sales declined 9.1% (15.5% adjusted), with EBIT and margins down year-over-year. Cost reductions are underway, and full-year guidance was revised lower, but mid-term growth and profitability targets remain. Demand is slowly recovering, especially in infrastructure segments.
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Q2 saw a slight sales increase but an organic decline, with EBITDA and margins down year-over-year. Cost-cutting and restructuring are underway to defend profitability, while new bank terms improve financing. Management remains committed to margin targets despite market headwinds.