Q4 2025 NCAB Group AB (publ) Earnings Call Transcript

Feb 13, 2026 / 09:00 AM GMT

Transcript

Key Points

Positve

NCAB Group AB (STU:XB1) reported a strong order intake growth of 20% in Q4, with a 33% organic growth in US dollars.
The company saw a positive development across all segments, particularly in defense, med tech, and power energy industries.
NCAB Group AB (STU:XB1) successfully managed to improve its EBITDA to 98.6 million SEK, with an EBITDA margin increase to 10.9% from 8% last year.
The company has a diversified supply base, expanding sourcing in Asia outside China, which helps mitigate geopolitical risks.
NCAB Group AB (STU:XB1) continues to pursue M&A activities, with successful acquisitions like Munta Technique, enhancing its market position.

Negative

The company faced a strong FX headwind, negatively impacting the quarter by 23 million SEK.
Operating cash flow was impacted by a temporary increase in working capital due to ERP system implementation.
The automotive segment remains weak, affecting regions like the UK and Italy.
EBITDA in North America decreased due to timing of costs and adjustments to higher order intake pace.
The company experienced a decrease in return on equity to 14.3% from 18.3% last year, partly due to FX impacts.

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

NCAB.ST - NCAB Group AB (publ)
Q4 2025 NCAB Group AB (publ) Earnings Call
Feb 13, 2026 / 09:00AM GMT

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Presentation
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Unidentified_1 [1]
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NCAB Q4 presentation for 2025. During the questions and answer session, participants are able to ask questions by dialing 5 on their telephone keypad. Now I will hand the conference over to the CEO Peter Crook, CFO Timothy Benjamin, and head of investor relations Gunilla Oman. Please go ahead.

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Unidentified_2 [2]
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Thank you very much and welcome all to our Q4 release.

First, a few bit of information about NCAB. So we at NCAB, we are a supplier of printed circuit boards, and those are the products that you see to the left of this slide which

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