Momentum Group (MMGR) Q4 2025 (Q&A) earnings summary

Executive summary

• Revenue and earnings increased in 2025 despite a subdued and uncertain market, with gradual improvement in market signals across customer segments and regions.

• Margin decline in Q4 for the industry segment was mainly due to lower volumes in the Specialist area and reduced contribution from acquisitions.

• Organic growth improved slightly from Q3, with acquisitions contributing significantly to overall revenue growth.

• Power transmission, the largest business, remained stable in margins despite slight volume decreases and high price pressure.

• Six companies were acquired during the year, adding approximately SEK 300 million in annual revenue.

Financial highlights

• Full-year 2025 revenue grew 8% to SEK 3,097 million (2,873), EBITA up 5% to SEK 337 million (322), and net profit up 5% to SEK 196 million (186).

• Q4 revenue increased by 6% to SEK 792 million (745), with EBITA for Q4 rising 6% to SEK 74 million (70), and operating profit up 11% to SEK 59 million (53).

• Earnings per share for the year were SEK 3.80 (3.60), up 6%.

• EBITA margin for the year was 10.9% (11.2%).

• Strong cash flow from operations: SEK 347 million (323).

Outlook and guidance

• Market activity is stabilizing, with increased order inquiries and interest in system and project-related business, especially in defense, energy, and steel segments in Sweden and Finland.

• Gradual market improvement expected, with positive signals in several sectors and geographies.

• Target to double EBITA to around SEK 680 million by 2030, focusing on organic improvements, organizational development, and geographic expansion.

• Board proposes a dividend of SEK 1.40 per share, an 8% increase, corresponding to a 37% payout ratio.

• Danish market growth is expected to align with other Nordic markets as pharma demand normalizes.