Ambea (AMBEA) Q4 2025 earnings summary

Executive summary

• Net sales in Q4 2025 reached SEK 4,193 million, up 15% year-over-year, driven by acquisitions and organic growth.

• Full-year net sales rose 13% to SEK 16,039 million, with organic growth of 4% and acquired growth of 10%.

• Adjusted EBITA for Q4 was SEK 347 million (8.3% margin), and for the year SEK 1,535 million (9.6% margin).

• Major acquisitions, including Validia and Attendo's child welfare business, expanded the care portfolio and market presence in Finland and Sweden.

• Continued investments in operational structure, leadership, and workplace development to support future growth.

Financial highlights

• Q4 net sales rose 15% to SEK 4,193 million, with 13% acquired and 4% organic growth.

• Adjusted EBITA for Q4 was SEK 347 million (8.3% margin), down from 9.5% last year.

• Free cash flow for the year was SEK 2,052 million, up from SEK 1,966 million.

• EPS before dilution grew to SEK 7.95, and the proposed dividend per share is SEK 2.65, up 20%.

• Operating cash flow exceeded SEK 1 billion in a single quarter for the first time.

Outlook and guidance

• Focus remains on growth, market share gains, and operational investments, with a strong pipeline for new care places.

• Board proposes a 20% higher dividend and a new share buyback program.

• Investments in IT, training, and leadership will continue but are not expected to impact the EBITDA margin target of 9.5%.

• Active M&A expected to continue in 2026, with bolt-on acquisitions prioritized.

• Ongoing expansion in Finland and Sweden, with favorable conditions in Denmark.