Karnell Group AB (FRA:O4X)

Q4 2025 Karnell Group AB (publ) Earnings Call Transcript

Feb 13, 2026 / 07:30 AM GMT

Release Date Price: €5.3 (+2.12%)

Transcript

Key Points

Positve

Karnell Group AB (OSTO:KARNEL B) reported a 14% increase in net sales for Q4 2025, with 7% organic growth.
EBITDA increased by 24% to 62 million, improving the margin from 12.5% to 13.5%.
Cash flow from operating activities was strong at 131 million, reflecting higher earnings and efficient working capital management.
The company maintained a low net debt to EBITDA ratio of 1.2 times, providing financial flexibility for future acquisitions.
Karnell Group AB completed three strategic platform acquisitions in 2025, enhancing its portfolio and market position.

Negative

Organic sales growth for product companies was flat, indicating potential challenges in driving organic expansion in this segment.
EBITDA for product companies decreased organically by 7%, suggesting some operational inefficiencies or market challenges.
The company experienced seasonality in cash flow, with a significant buildup of working capital during the first three quarters.
Despite strong overall performance, some product companies faced softer market conditions, leading to mixed results within the segment.
Karnell Group AB walked away from a potential acquisition due to misalignment with company values, indicating challenges in the M&A process.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

KARNELb.ST - Karnell Group AB (publ)
Q4 2025 Karnell Group AB (publ) Earnings Call
Feb 13, 2026 / 07:30AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning everyone and welcome to Canal's 4th quarter and full year year 2025 presentation.

I'm Peter Moannis, the CEO of Cal, and with me today I have our CFO Lars Nieerrez.

As usual, I'll start with an overview of the quarter and give you the key developments during the year. Lars will then walk you through the financial and segment performance in more detail.

After that, I'll return and summarize the year and the outlook before we open the floor for any questions you may have.

For those of you who are joining us for the first time, Janel is an active and long-term owner of industrial technology companies.

We acquire small to medium-sized businesses with strong positions

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