Q4 2025 NCC AB Earnings Call Transcript

Feb 5, 2026 / 08:00 AM GMT

Release Date Price: kr213.7 (-9.06%)

Transcript

Key Points

Positve

NCC AB (STU:NCGB) reported a strong underlying performance with an operating profit of almost 700 million SEK in Q4 2025.
The company achieved an all-time high in its business area industry, with an 88% improvement in earnings compared to Q4 2024.
NCC AB (STU:NCGB) received a high level of orders, totaling 15.5 billion SEK, indicating strong market demand.
The board proposed maintaining the same dividend structure as the previous year, with a 9 SEK ordinary dividend and an additional 2 SEK extra dividend.
The company reported a strong cash flow for both the quarter and the full year, with a net debt target significantly below 2.5 times EBITDA, currently at 0.27.

Negative

NCC AB (STU:NCGB) announced a non-cash impairment charge of approximately 1.4 billion SEK related to property values in the property development business area.
The company experienced a decrease in order backlog due to a focus on higher quality projects and currency effects.
The market for residential and commercial properties remains cautious, affecting transaction and letting activities.
Health and safety improvements were flat, with some units not showing improvement.
The company faces challenges in the infrastructure segment, with lower sales due to high production rates in previous years and selective project picking.

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

NCCb.ST - NCC AB
Q4 2025 NCC AB Earnings Call
Feb 05, 2026 / 08:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome to this presentation of the 4th quarter and the full year 2025 for the NCC Group. I'm Thomas Carlson, CEO, and with me here I have Susan Litander, CFO, and as always, I will do an overview of the quarter and the full year for you, and then Susan will give you the details, and in the end I will wrap up and we open up for questions.

I'd like to com I'd like to start with yesterday's news. Two weeks ago we communicated a non-cash packed impairment charge of approximately 1.4 billion. This relates mainly to new assessments of the property values in within business area property development.

And tax charges in tax assets, that we've had on the balance sheet, Susan can ask, answer more questions about that. What I like to,

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