Sweden · Delayed Price · Currency is SEK Terranor Group AB Earnings Call Transcripts
Fiscal Year 2026
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Profitability is now prioritized over rapid growth, with targets of 8% organic growth and 5% EBITDA margin by 2028, supported by a SEK 6.3 billion order backlog and a focus on operational excellence. Strategic expansion in Sweden and Denmark, selective bidding in Finland, and a CapEx-light model underpin stable dividends and future growth.
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Q1 saw 23% revenue growth and a 62% rise in adjusted EBITDA, driven by strong winter operations and new contracts, especially in Sweden. Backlog reached an all-time high, and the company remains on track for its medium-term margin target, despite ongoing challenges in Finland.
Fiscal Year 2025
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Q4 and full-year results showed 29% revenue growth, strong cash flow, and solid execution in Sweden, offsetting underperformance in Denmark and Finland. Margin pressure stemmed from legacy contracts and subsidiaries, but restructuring and proactive negotiations are underway.
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Q3 showed strong growth and improved profitability, led by Sweden's road operations. Adjusted EBITDA rose 14% year-over-year, with new contracts ramping up successfully. Denmark and Sweden are expected to reach margin targets soon, while Finland faces longer-term challenges.
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Q2 revenue grew 12% year-on-year to SEK 849 million, with adjusted EBITDA margin up to 2% and strong contract wins in all regions. IPO-related one-off costs impacted cash flow, but underlying profitability and growth outlook remain robust.