Saxlund Group (SAXG) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 2025 was 62.2 MSEK, down from 79.7 MSEK year-over-year, reflecting reduced project activity in Sweden and lower order intake in 2024.

• EBITDA for Q3 2025 was 2.7 MSEK, compared to 5.8 MSEK in Q3 2024; EBIT was 1.7 MSEK versus 4.8 MSEK.

• Net result after tax for Q3 2025 was -0.3 MSEK, down from 2.1 MSEK in Q3 2024.

• For the nine months, revenue was 166.0 MSEK (228.7 MSEK), EBITDA 2.6 MSEK (-0.7 MSEK), EBIT -0.6 MSEK (-3.9 MSEK), and net result -4.4 MSEK (-11.1 MSEK).

• Order book remains strong, with notable contract wins in Germany, especially in sludge management.

Financial highlights

• Q3 2025 revenue decreased by 22% year-over-year; nine-month revenue fell by 27%.

• Q3 2025 EBITDA margin was 4.3%; EBIT margin was 2.7%.

• Net cash at period end was 5.1 MSEK, down from 25.5 MSEK a year earlier.

• Equity at period end was 52.3 MSEK (62.1 MSEK), equity per share 7.26 SEK (63.63 SEK).

• Net debt position of -0.6 MSEK at period end.

Outlook and guidance

• Management expects continued improvement in profitability and operational efficiency.

• Strong order book and pipeline support a positive outlook for the remainder of 2025.

• Market conditions favor sustainable and energy-efficient solutions, but competition and macroeconomic factors remain challenges.