Nordic LEVEL Group (LEVEL) Q4 2025 earnings summary

Executive summary

• Revenue for Q4 2025 increased by 5.2% year-over-year to 112.9 MSEK, with full-year revenue up 5.1% to 389.9 MSEK.

• Q4 adjusted EBITDA reached 19.7 MSEK (up from 18.4 MSEK), and adjusted EBIT was stable at 13.0 MSEK.

• Full-year adjusted EBITDA rose to 24.6 MSEK (from 18.9 MSEK), and adjusted EBIT improved to 6.3 MSEK (from 1.5 MSEK).

• Net result for Q4 was 8.9 MSEK (down from 9.3 MSEK), while the full-year net result improved to -3.1 MSEK (from -6.0 MSEK).

• The company executed the Next LEVEL efficiency program, focusing on sales force expansion and operational improvements.

Financial highlights

• Q4 operating cash flow before working capital changes was 16.0 MSEK; full-year was 12.0 MSEK.

• Q4 order intake was 94.8 MSEK (+0.9% YoY); full-year order intake was 378.4 MSEK (+1.5% YoY).

• Order backlog at year-end was 113.2 MSEK, down 15.6% YoY; offer stock increased 5.5% to 461.7 MSEK.

• Q4 cash flow from operations was 11.6 MSEK; full-year was 11.7 MSEK.

• Q4 investments were 0.0 MSEK; full-year investments were 0.2 MSEK.

Outlook and guidance

• No formal guidance for 2026 was provided.

• Management expects the strengthened commercial platform and efficiency measures to support profitable growth in 2026 and beyond.