Beijer Alma (BEIA) Q4 2025 earnings summary

Executive summary

• Stable Q4 and full-year 2025 performance with improved profitability, strong cash flow, and new financial targets for sustainable, capital-efficient growth.

• Organic growth achieved despite currency headwinds and mixed industrial demand, with industrial demand largely moving sideways.

• Five to six acquisitions completed in 2025, adding over SEK 600M in revenue and supporting strategic expansion, especially in Europe.

• Strategic focus on EBITDA/EBITA margin growth (targeting above 15% per year) and capital efficiency (target above 50%).

Financial highlights

• Q4 2025 net revenue rose 3% year-over-year to SEK 1,881M; full-year revenue up 7.6% to SEK 7,750M.

• Adjusted EBITA increased 16% in Q4 to SEK 281M; full-year adjusted EBITA up 16.4% to SEK 1,166M.

• Adjusted EBITA margin improved to 14.9% in Q4 and 15.0% for the year.

• EPS for Q4 up 26% to SEK 2.55; full-year EPS down 20% to SEK 9.43.

• Cash flow from operating activities increased 41% in Q4 and 39% for the year, reaching MSEK 940.

• Dividend of SEK 4.00 per share proposed, to be paid in two installments.

Outlook and guidance

• Focus on capital-efficient, sustainable growth with a target of above 15% EBITA growth per year and capital efficiency above 50%.

• Currency headwinds expected to persist into Q1 2026, with easier comparisons later if rates stabilize.

• Continued prioritization of operational improvement, disciplined capital allocation, and increased acquisition pace, especially in Europe.