Concejo (CNCJO) Q3 2025 earnings summary

Executive summary

• Net sales for Q3 2025 were 120.6 MSEK, down 19% year-over-year, mainly due to deconsolidation of SAL Navigation and Firenor's Middle East operations, and lower sales in Optronics.

• EBIT for Q3 was 1.7 MSEK, a turnaround from -5.0 MSEK last year, supported by SBF Fonder and ACAF.

• Net result for Q3 was -20.1 MSEK, impacted by negative value changes in BeammWave.

• For the first nine months, net sales were 402.3 MSEK (down 3%), EBIT 14.1 MSEK (up from -27.2 MSEK), and net profit 59.9 MSEK (up from -15.4 MSEK).

• Extra dividend of 7.00 SEK per share (81.9 MSEK total) paid after divestment of Berner Industrier.

Financial highlights

• Q3 net sales: 120.6 MSEK (149.6), EBIT: 1.7 MSEK (-5.0), net result: -20.1 MSEK (1.8), EPS: -1.97 SEK (0.18).

• 9M net sales: 402.3 MSEK (415.7), EBIT: 14.1 MSEK (-27.2), net result: 59.9 MSEK (-15.4), EPS: 4.79 SEK (-1.30).

• Operating cash flow for 9M: -15.6 MSEK (-30.6).

• Solid equity ratio at 76% and net cash position (net debt: -87.7 MSEK).

Outlook and guidance

• Firenor's strong order book in offshore wind fire safety solutions supports future growth, despite temporary delivery delays.

• ACAF expects continued growth and profitability, leveraging strong market position in CAF systems.

• SBF Fonder enters a more expansive phase with improved liquidity and new investments.