Sweden · Delayed Price · Currency is SEK Nolato AB Earnings Call Transcripts
Fiscal Year 2025
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Q4 2025 saw 2% sales growth adjusted for currency, with Medical Solutions up 5% and Engineered Solutions down 1%. Margins improved year-over-year, but were impacted by currency headwinds and higher material costs. CapEx and M&A activity remain elevated.
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Organic growth and margin improvements drove a 20% EBITDA increase, with strong performance in both Medical and Engineered Solutions. Ongoing expansions and investments support future growth, while the materials business faces continued pressure from the automotive sector.
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Sales grew 4% year-over-year to nearly SEK 2.4 billion, with EBITDA margin up to 11.6% and operating profit rising 13%. Medical Solutions led growth, supported by global expansion and margin improvements, while Engineered Solutions saw gains in consumer electronics and hygiene.
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Q1 2025 saw flat sales but strong margin gains, with EBITDA up 14% and Medical Solutions leading improvements. Engineered Solutions faced lower automotive sales but offset with materials growth and cost actions. Margin gains are expected to be sustainable, with further improvements targeted, and investments support future expansion.
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New financial targets set: organic growth above 8%, EBITA margin above 12%, and return on capital employed above 15%. Strategic focus is on value chain expansion, sustainability, and innovation, with major investments in drug delivery and materials, supported by a strong global footprint.
Fiscal Year 2024
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Q4 saw 5% sales growth and a 36% rise in operating profit, with strong cash flow and margin improvements. Medical Solutions and Engineered Solutions both grew, though Automotive remains weak. Dividend is unchanged as the company prioritizes investments and potential acquisitions.
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Q3 saw 5% sales growth and a 22% EBITDA increase, with strong performance in materials and IVD, but continued weakness in automotive. CapEx is ramping up for a major project, and medical supply chain adjustments may persist into Q4.
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Q2 2024 saw sales of SEK 2.4 billion, down 2% year-over-year, but operating profit rose 24% to SEK 245 million, with strong cash flow and margin improvements. Medical Solutions remained stable, Engineered Solutions grew excluding VHP, and telecom demand is still uncertain.