Alimak Group (ALIG) Q2 2025 earnings summary

Executive summary

• Adjusted EBITDA/EBITA margin reached 18% in Q2, up from 17% year-over-year, with strong performance in Industrial and Facade Access divisions.

• Order intake down 4% reported but up 4% in constant currency; revenue down 1% reported but up 7% in constant currency, reflecting negative currency impact.

• Signed agreement to acquire Century Elevators' industrial business in the US, strengthening the Industrial division and North American presence.

• Launched restructuring in Facade Access division with SEK/MSEK 60 one-off cost and expected annual savings of SEK/MSEK 30.

• Solid financial position supports ongoing investments, acquisitions, and dividend policy.

Financial highlights

• Adjusted EBITDA/EBITA margin at 18% in Q2, with SEK/MSEK 322 EBITDA/EBITA (up from SEK/MSEK 307); year-to-date margin at 17.7%.

• Net result up 28% year-over-year to SEK/MSEK 184; EPS up 28% to 1.74 SEK; adjusted EPS up 11% to 1.98 SEK.

• Operating cash flow improved to SEK/MSEK 182 from SEK/MSEK 164, despite higher working capital.

• Leverage ratio (Net debt/EBITDA) reduced to 1.74 from 2.29 year-over-year, well below the 2.5 target.

• ROCE at 26.8% excluding goodwill, 11% including goodwill, showing sequential improvement.

Outlook and guidance

• Confident in continued strong performance, with order intake and revenue expected to remain solid in coming quarters.

• Wind division outlook positive for 2025–2027 due to US policy incentives; no major concerns about tariff impacts.

• Ongoing focus on cost efficiency, margin improvement, and profitable growth across all divisions.

• Restructuring in Facade Access to yield annual savings from next year, with one-off costs in H2 2025.

• Capital Market Day planned for November 25 to outline long-term strategy to 2030.