Q4 2025 Troax Group AB (publ) Earnings Call Transcript
Key Points
- Troax Group AB (FRA:5TOA) completed the factory transfer from Poland to Sweden on time and within budget, improving operational efficiency.
- The company made three strategic acquisitions, including Vichnet, D-flexx, and Stommpy, enhancing its market leadership in Asia and expanding its product portfolio.
- APAC region showed significant growth in 2025, with a strong pipeline and high activity levels.
- The company is optimizing its supply chain with ongoing projects, including the factory move from Chicago to Nashville, expected to enhance competitiveness in North America.
- Troax Group AB (FRA:5TOA) maintained a favorable book-to-bill ratio of 5% in the fourth quarter, indicating potential future growth.
- The company reported a 3% organic decline in order intake growth for the fourth quarter, excluding FX effects.
- EBITA margin decreased to 10.8% in Q4, down from 17.2% in the same quarter last year, due to operational challenges and low volumes.
- North American operations faced profitability issues due to low order intake and delayed pricing implementation.
- Commercial partitioning business suffered from low margins and volumes, contributing to a 1.3% point dilution in EBITDA margin.
- Operating cash flow decreased significantly to EUR4.8 million in Q4, compared to EUR14.4 million in the same quarter last year.
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Hi everyone and welcome to Troax's quarter four report. My name is Martin Nystrom and as always, I have Anders, our CFO with me here today and we'll go through the quarter four result and key events. After the presentation, we'll open up for a Q&A session and by that, let's dive into the quarter.
The fourth quarter was a for Troax a mixed bag of outcomes. In total, we report a minus 3% order intake growth organically and in the minus 3% we have excluded the FX effect.
We reported 10.8% EBITA margin, excluding the one-off effects, which I will come back to and net debt to 1.7.
If I start with the market and the market conditions, I think we can conclude that in the fourth quarter, the markets continue to trend softly, largely as we've seen throughout 2025.
In Europe, we continued largely as in the third quarter. We had some signs of recovery in the warehousing segment as well as in the general industry segment, but at the same time we also continue
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