Sustainion (SUSG) Q4 2025 earnings summary

Executive summary

• Achieved record year with net sales of 537,820 TSEK, up 184.5% year-over-year, with 26.3% organic growth.

• EBITDA for the year reached 53,809 TSEK, with a margin of 10.0%.

• EBIT for the year was 38,410 TSEK, and net income was 23,317 TSEK.

• Strong Q4 performance: net sales of 175,010 TSEK (+147.3% YoY), EBITDA of 17,790 TSEK (10.2% margin).

• International expansion, especially via Skårebo Energi, and strategic acquisitions (KPP, Skårebo) drove growth.

Financial highlights

• Q4 net sales: 175,010 TSEK (70,775), EBITDA: 17,790 TSEK (5,658), EBIT: 13,843 TSEK (1,817), EPS: 0.05 SEK (0.00).

• Full-year net sales: 537,820 TSEK (189,056), EBITDA: 53,809 TSEK (23,251), EBIT: 38,410 TSEK (7,778), EPS: 0.12 SEK (0.02).

• Cash flow from operations: 26,048 TSEK; cash and equivalents at year-end: 25,588 TSEK.

• Equity at year-end: 157,557 TSEK; equity ratio: 34.9%.

• Net debt/EBITDA (proforma R12): 1.3x, improved from 2.3x last year.

Outlook and guidance

• Focus remains on profitable growth, quality, and cash flow.

• Continued strong demand expected in core markets; international expansion prioritized.

• No dividend proposed for 2025.