Q4 2025 VBG Group AB (publ) Earnings Call Transcript
Key Points
- VBG Group AB (LTS:0GXK) achieved revenue growth for the fifth consecutive quarter, with a 2.8% increase in Q4 2025 compared to Q4 2024.
- The company successfully completed three acquisitions in 2025, contributing significantly to its growth targets.
- Order intake increased by 7% in Q4 2025, and when adjusted for currency, the growth was 16%, indicating strong market demand.
- The defense segment within truck and trailer equipment saw a 46% increase in revenue compared to Q4 2024.
- VBG Group AB (LTS:0GXK) maintained a strong operating cash flow of SEK270 million in Q4 2025, marking it as the second-best quarter for cash flow.
- The company faced a revenue decline of 3.3% for the full year 2025, impacted by a 6% currency headwind.
- EBITDA margin decreased from 14.3% in Q3 2024 to 13.1% in Q4 2025, affected by increased raw material costs and currency fluctuations.
- Errors in inventory evaluation in the Polish company within MTS affected historical financials and resulted in a SEK30 million impact on Q4 2025.
- The Mobile Thermal Solutions (MTS) division experienced a decline in profitability due to increased raw material costs and an unfavorable customer mix.
- The company anticipates continued market volatility and geopolitical tensions, which could impact future performance.
Welcome to the VBG Group Q4 Report 2025 presentation. (Operator Instructions) Now I will hand the conference over to the speakers, CEO Anders Erkén and CFO Fredrik Jignéus. Please go ahead.
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Hi and very welcome to the presentation of the Q4 2025 report from the VBG Group. It's me and Fredrik here, and I will give you an overview and Frederick will give you more details during the presentation. First of all, we will take a quick snapshot and summarize 2025.
As you all know, it was sort of a turbulent year, and from a geopolitical point of view, from a trade war point of view, and, we can say that, we have spent a lot of resources and the organization has done a fantastic job when it comes to mitigating, the tariffs, for that was imposed by the US administration.
Overall, we can see, we can split the year in two halves. First of all, the first half, we considered to be slower demand and from, quarter three, and also as you will see in quarter
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