Q4 2025 Instalco AB Earnings Call Transcript
Key Points
- Instalco AB (FRA:4IIA) reported a net sales growth of 4.4% in Q4 2025, reaching almost 3.8 billion, with organic growth turning positive at 4.9%.
- The company's EBITA increased by 39% compared to the previous year, reaching 272 million, with a margin of 7.2%, indicating operational improvements.
- Instalco AB (FRA:4IIA) maintained a strong cash flow, with a cash conversion rate of 108%, showcasing effective cash management and working capital efficiency.
- The order backlog grew by 5.6% or 7.5% organically, with significant contributions from Norway and Finland, indicating a strong pipeline of future projects.
- The company's financial position has strengthened, with leverage reduced to 2.8 times net debt to EBITDA, down from 3.3 times at the end of Q3 2025.
- Despite improvements, the EBITA margin for the full year 2025 was 5.9%, which remains below the company's long-term ambition.
- Market conditions remain challenging, with uneven demand and limited visibility, particularly affecting the Swedish market and certain new build segments.
- The company's service sales in Sweden showed a slight decline, indicating potential sluggishness in the service market.
- Instalco AB (FRA:4IIA) continues to face intense competition and macroeconomic uncertainties, including inflation and interest rate expectations affecting investment decisions.
- The building automation startup within the company is still operating at a loss, although improvements are being observed.
Welcome to the Instalco Q4 presentation 2025. For the first part of the conference call, the participants will be in listen-only mode. (Operator Instructions). Now I will hand the conference over to the speakers. Please go ahead.
Okay, welcome to this presentation of Instalco's report for the fourth quarter and full year 2025. My name is Per Sjöstrand. I'm CEO of Instalco, and with me today is our CFO, Christina Kassberg and our Head of IR, Mathilda Eriksson. The fourth quarter concludes a challenging year but also marks an important shift driven by our own actions.
As always, I will start with a short snapshot of instco today. We are a leading installation group. Across the Nordics with an established platform also in Germany. Our strength is our decentralization. Local companies close to customers combined combined with common standards, tools and governance.
With over 6,000 employees, we are exposed to market segments driven by long-term needs such as energy
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