Beijer Alma Ab

Latest Results (01.10.2026):

Beijer Alma AB — Q3 2025: The Group reported strong top-line growth in Q3 2025 with net revenue rising to MSEK 1,886 (Q3 2024: 1,683), and adjusted operating profit (EBITA) improving to MSEK 299 (230) with a 15.8% margin. EBIT was MSEK 278 (398) and profit after net financial items was MSEK 234 (341). Earnings per share were SEK 2.91 (5.02). Order bookings and operating cash flow both rose, while net debt increased to MSEK 2,496 mainly from acquisitions.

Key financials

Q3 2025 net revenue MSEK 1,886 (+12% YoY); adjusted EBITA MSEK 299 (margin 15.8%); EBIT MSEK 278; profit after net financial items MSEK 234; EPS SEK 2.91. Cash flow from operating activities MSEK 366 (212). Order bookings MSEK 1,771 (1,650).

Profitability drivers

Adjusted EBITA improved due to higher volumes and lower costs; Lesjöfors contributed +MSEK 48 and Beijer Tech +MSEK 20 to EBITA versus prior year. Net financial items improved (‑44 vs ‑57) as interest rates fell.

Segments — Lesjöfors (Q3 2025)

Lesjöfors net revenue MSEK 1,236 (+7% YoY), adjusted EBITA MSEK 223 (margin 18.0%). Chassis Springs and Industry both lifted profitability; US demand remained weak. A fire at Åminnefors impacted Q3 earnings by MSEK ‑3. An action plan to streamline central European capacity is underway and expected largely completed in Q4 2025.

Segments — Beijer Tech (Q3 2025)

Beijer Tech net revenue MSEK 650 (+24% YoY), organic growth 8%; adjusted EBITA MSEK 84 (margin 12.9%). Growth supported by acquisitions (e.g., Swemas, Roykon) and healthy export markets for several niche companies.

Balance sheet and cash

Total assets MSEK 9,863 (Sept 30, 2025). Net debt MSEK 2,496 (up from year-end, driven by acquisitions); net debt/adjusted EBITDA ~1.8x. Jan–Sep operating cash flow MSEK 641; investing cash flow before acquisitions MSEK 483.

Acquisitions and post‑period events

Several 2025 acquisitions (IIS India, Swemas, Roykon, UPH) boosted revenue and headcount; employees rose to 3,676. After the period Beijer Tech acquired Clara Nordic Oy (Oct 16, 2025). Purchase-price allocations remain preliminary.

Capital allocation & returns

Jan–Sep 2025 net revenue MSEK 5,869 (+9%); adjusted EBITA MSEK 886. Return on equity and capital employed declined vs prior year (reflecting a positive comparability item in Q3 2024 and Lesjöfors action plan), and EPS Jan–Sep was SEK 6.88 (9.82).

Governance and risks

Acting CEO Johnny Alvarsson noted the results; Oscar Fredell will assume President and CEO role on November 3, 2025. Principal risks called out include customer concentration, interest‑rate and currency exposure (notably for Lesjöfors), geopolitical risks and refinancing risk at the Parent Company.