TCECUR Sweden (TCC) Q3 2025 earnings summary

Executive summary

• Order backlog increased by over 25% year-over-year to 219.1 MSEK, with recurring revenues rising to 13.2% of total, supporting long-term stability.

• Net sales for Q3 2025 were 116.7 MSEK, a slight decrease year-over-year, with organic growth at -1.2%.

• EBITA improved to 0.1 MSEK from -7.6 MSEK, with a margin of 0.1%, reflecting restructuring efforts.

• Net result after tax was -2.1 MSEK, a significant improvement from -9.0 MSEK in Q3 2024.

• Operational cash flow strengthened to 7.1 MSEK from 2.4 MSEK, aided by a one-time effect.

Financial highlights

• Nine-month net sales were 394.3 MSEK, down from 420.7 MSEK year-over-year, with organic growth at -6.3%.

• EBITA for the nine months was 6.7 MSEK (margin 1.7%), up from -3.1 MSEK.

• Significant non-cash impairment of intangible assets totaling 20.3 MSEK, mainly related to discontinued brands and customer relationships.

• Net result after tax for the nine months was -19.8 MSEK, compared to -11.6 MSEK.

• R12 net debt/adjusted EBITDA improved to 1.7x from 2.1x.

Outlook and guidance

• Focus remains on improving profitability and achieving financial targets through ongoing restructuring and integration.

• Growing order backlog and improved cash flows position the group for long-term profitability in a growing market.

• Integration of subsidiaries and centralization of finance functions are expected to enhance efficiency and support sustainable growth.