Green Landscaping Group (GREEN) Q3 2025 earnings summary

Executive summary

• Q3 2025 net sales increased 4% year-over-year to SEK 1,605 million, with organic growth at -3% and acquisitions contributing 7%; rolling twelve months revenue was SEK 6,211 million, essentially flat year-over-year.

• EBITA for Q3 decreased 12% to SEK 114 million, impacted by SEK 21 million in project write-downs in Norway; adjusted EBITA was SEK 135 million.

• Sweden and Norway faced challenging conditions, while Finland, Lithuania, and Germany outperformed.

• Strategic acquisitions, including Tessmer & Sohn in Germany, and renewed financing have secured future growth and stability.

• Cash flow from operating activities in Q3 was SEK 47 million, down from SEK 121 million a year earlier.

Financial highlights

• Net sales for Jan–Sept 2025 were SEK 4,438 million, down 3% year-over-year; organic growth was -10%.

• EBITA for Jan–Sept 2025 was SEK 299 million, down 18% year-over-year; EBITA margin was 6.7%.

• Rolling 12-month EBITDA margin at 7.5% (vs. 8.4% prior year); Q3 EBITA margin was 7.1%.

• EPS in Q3 declined 42% to SEK 0.56.

• Order backlog at quarter-end was SEK 7,462 million, down 7% year-over-year.

Outlook and guidance

• Management expects profitability and cash flow to improve in 2026 due to ongoing restructuring and cost control measures.

• Sweden anticipated to recover in 2026 with improved margins due to market recovery and closure of unprofitable businesses.

• Norway expected to remain under pressure with no immediate margin improvement; rest of Europe remains positive.

• Acquisition ambition of SEK 80–100 million EBITDA for 2025 remains unchanged.

• Renewed and expanded financing agreement provides stability for the coming years.