Sweden · Delayed Price · Currency is SEK VBG Group AB Earnings Call Transcripts
Fiscal Year 2026
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Revenue rose 8.7% year-over-year with strong organic growth and an 11% increase in order intake. EBITA margin declined to 10% due to restructuring and cost pressures, but margin recovery is expected as price adjustments take effect.
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Revenue grew 2% year-over-year in Q1 2026, with all divisions achieving organic growth and a strong order book. Margins were pressured by FX and raw material costs, but price adjustments are underway and full impact is expected by Q3.
Fiscal Year 2025
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2025 saw a slow first half and a strong recovery in the second, with Q4 revenue up 2.8% year-over-year and robust order intake. Margin pressure from raw material costs and currency headwinds is being addressed through price increases, with positive momentum expected into 2026.
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Revenue grew 7.5% year-over-year with all divisions and geographies contributing, despite currency headwinds. EBITDA margin declined to 12.5% due to one-time costs, but order intake rose 10% and recent acquisitions support a positive outlook. ROCE was 30.1%.
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Q2 2025 saw a 9% revenue decline, mainly due to currency effects, but gross margin held at 32% and EBITDA remained solid. Three acquisitions and improving order intake support a positive outlook for H2 2025, with strong performance in the school bus segment and ongoing M&A focus.
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Revenue declined 12% year-over-year due to weakness in key segments, but sales outside Europe and North America grew 25%. EBITDA margin fell to 13.1%, and two strategic acquisitions were completed to support growth and diversification. Market volatility and tariffs remain key risks.
Fiscal Year 2024
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Annual revenue reached 5.579 billion SEK with record cash flow and improved margins, despite a 12% Q4 revenue drop. Order intake is rising, especially outside Europe and North America, and recent acquisitions strengthen the global footprint.
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Q3 2024 saw a 12% sales decline and a 24% drop in EBITDA, with all divisions improving gross margins through efficiency gains. Market softness is expected to persist, especially in the U.S. and European segments, but the group maintains a strong financial position.
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Second-best quarter ever with 3% turnover growth and 2.4% EBITA increase, driven by strong North American demand and efficiency gains. European trailer market remains weak, but MTS and Ringfeder Power Transmission segments show robust performance.