Sensys Gatso Group (SGG) Q4 2025 earnings summary

Executive summary

• Achieved third consecutive quarter of strong performance, with significant revenue growth, margin expansion, and improved cash position, setting positive momentum for 2026.

• Full year revenue grew 14% to SEK 719 million, or 20% in constant currency, with major contributions from Swedish, Dutch, Saudi, Australian, and U.S. projects and recurring global maintenance contracts.

• EBITDA margin improved to 19% in Q4 and 15.2% for the full year, reflecting operational efficiency and economies of scale.

• Strong order intake and recurring revenue growth supported by global project deliveries and maintenance contracts.

• Ended the year with robust cash flow and a strong order backlog.

Financial highlights

• Q4 revenue was SEK 198 million; full year revenue reached SEK 719 million, up 14% year-over-year (SEK 757 million in constant currency, up 20%).

• Q4 EBITDA was SEK 37.4–37.6 million (19% margin), up 52% from Q4 2024; full year EBITDA was SEK 109.2 million (15.2% margin, up from 10.4% in 2024).

• Q4 gross margin reached 44%; full-year gross margin was 41.6%.

• Cash flow from operations was SEK 107 million in Q4 and SEK 125 million for the year, with available liquidity at year-end of SEK 214 million.

• Net interest-bearing debt at year-end was SEK 209–210 million, with improved liquidity and reduced credit facility usage.

Outlook and guidance

• 2026 revenue is expected in the range of SEK 750–800 million, with an EBITDA margin of 14–16%, factoring in anticipated currency headwinds.

• Growth supported by strong order backlog, ongoing tenders, and operational efficiency focus.

• CapEx for 2026 is expected to be similar to 2025 (around SEK 100 million), with a shift toward more physical assets and slightly lower software investment.

• Ongoing monitoring of market developments and currency volatility.