SEHED Byggmästargruppen (SEHED) H1 2025 earnings summary

Executive summary

• Delivered stable results and increased order backlog despite a weak construction market in H1 2025.

• Revenue declined 6% year-over-year, but EBIT and margins remained steady.

• Order backlog grew 23% to 2.3 billion SEK, supporting future growth.

• Successful IPO on NGM Nordic SME with share price up 25% since listing.

• Strong liquidity position with nearly 200 MSEK in cash and unused credit.

Financial highlights

• Net sales: 845.5 MSEK (down from 898.8 MSEK year-over-year).

• EBIT: 33.4 MSEK (3.9% margin), nearly unchanged from prior year.

• Net income: 25.3 MSEK (down from 27.3 MSEK year-over-year).

• EPS: 0.90 SEK (vs. 0.98 SEK year-over-year).

• Operating cash flow: 23.7 MSEK (vs. 27.3 MSEK year-over-year).

Outlook and guidance

• Order backlog increase positions the group for market growth and higher market share.

• Market recovery expected in both renovation (ROT) and new construction segments in 2025.

• Continued focus on cost efficiency and leveraging strong liquidity for future acquisitions.