Q4 2025 Ependion AB Earnings Call Transcript
Key Points
- Order intake increased by 12% in the quarter, with a 4% increase when adjusted for the Welotec acquisition and currency effects.
- Westermo experienced a strong recovery in order intake from the train segment, showing a significant sequential improvement.
- The integration of Welotec into Westermo is progressing well, generating new business opportunities with a combined offering.
- The Board proposes an increased dividend of SEK0.25 to SEK1.50 per share, reflecting confidence in future performance.
- The company has strengthened its gross margins throughout the year, indicating strong operating leverage.
- Sales decreased by 2% when adjusted for acquisitions and currency, indicating challenges in maintaining organic growth.
- Earnings were negatively impacted by significant currency effects, totaling SEK60 million in the quarter.
- Westermo's profitability was affected by the amortization of excess values from the Welotec acquisition, reducing EBIT by SEK4.9 million.
- Beijer Electronics faced a decline in sales by 8%, with profitability impacted by negative currency effects and increased amortization costs.
- The market environment remains uncertain due to geopolitical tensions, affecting overall business stability and growth prospects.
Thank you very much, and welcome, everybody, to Ependion's Q4 report presentation. So as usual, it's Joakim and myself. We are down here in Malmo today. And the agenda looks the same as usual. So I will start with giving an overall business update then Joakim will move into the financial performance more in detail, and then I will take the concluding notes and outlook. And after that, we will open up for questions and answers.
So looking at this quarter. Well, first of all, we see that the market environment is largely unchanged compared to previous quarters in 2025. The geopolitical uncertainty remains, so that we can conclude. Nevertheless, order intake increased in the quarter by 12%, and adjusted for the Welotec acquisition and the negative currency effects, the increase was 4%.
Westermo had a good quarter. If you remember, we had a weak quarter in the quarter 3, driven by weak order intake from the train segment. A little bit similar to last year, that order intake bounced back now in this quarter. So that was good to
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