Nolato (NOLA) Q3 2025 earnings summary

Executive summary

• Organic growth of 2% in both business areas, with EBITA margin rising to 12.0% in Q3 and profit after tax increasing to SEK 215 million, supported by strategic price and cost adjustments and a SEK 7 million insurance claim.

• Net sales reached SEK 2,342 million for the quarter, with a strong financial position and a debt ratio of 0.6x EBITDA.

• Ongoing expansions in Hungary, Poland, and Malaysia are progressing as planned, supporting future growth and global production flexibility.

• Strategic investments and supply chain efforts drove improvements in sales and profit.

• Both business areas contributed to growth, with high market activity and innovation focus.

Financial highlights

• Net sales for Q3 were SEK 2,342 million, up 2% year-over-year on a currency-adjusted basis, though down from SEK 2,401 million reported last year.

• EBITA/EBITDA increased by 20% to SEK 281 million, with margin improving to 12.0% from 9.8% year-over-year.

• Profit after tax rose to SEK 215 million from SEK 164 million year-over-year, and earnings per share increased to SEK 0.80 from SEK 0.61.

• Return on capital employed improved to 14.1% from 11.5% year-over-year.

• Cash flow from operating activities was SEK 301 million, compared to SEK 327 million in the prior year.

Outlook and guidance

• CapEx for 2025 expected to be around SEK 850 million, with nearly SEK 500 million of the Hungary expansion paid by year-end.

• Validation deliveries in Hungary to continue through Q1 2026, with commercial deliveries starting in Q2 2026 and ramping up thereafter.

• Margin improvements expected to be sustained through cost adjustments and efficiency gains, with Medical Solutions margin targeted to rise toward 13% as new programs ramp up.

• Focus remains on profitable growth, leveraging global capabilities and a strong financial position to invest in new projects and acquisitions.

• Expansion in Hungary, Poland, and Malaysia progressing as planned, with volumes expected to increase in future quarters.