Hybricon (HYCO) Q4 2025 earnings summary

Executive summary

• Strong Q4 performance with increased revenues and positive net result after losses in prior year.

• GridLink product development advanced, with growing market interest, especially in defense and energy resilience sectors.

• Expansion phase initiated, including capital raise to support technology and sales investments.

Financial highlights

• Q4 revenues: kSEK 5,159 (up from kSEK 3,663 year-over-year); full-year revenues: kSEK 17,159 (up from kSEK 15,295).

• Q4 net result: kSEK 371 (improved from -402); full-year net result: kSEK -610 (down from 281).

• Q4 EBITDA: kSEK 508 (up from -290); full-year EBITDA: kSEK -133 (down from 994).

• EPS for the year: SEK -0.06 (down from 0.03); equity per share: SEK 0.98 (down from 1.03).

Outlook and guidance

• 2026 focus on intensified GridLink commercialization and expansion into defense and international markets.

• Continued stable development expected in Identic and aftersales segments.

• No dividend proposed for 2025.