Sectra AB

Latest Results (16.05.2026):

Sectra AB — Fourth quarter (Feb–Apr) 2025 and full-year 2024/2025: Sectra reported a year of solid growth driven by record order bookings and strong recurring revenue, while net sales grew modestly and profitability improved on an underlying basis. The company also proposed an ordinary and an extraordinary dividend and highlighted ongoing transition to service deliveries (cloud/recurring revenue) that will weigh on short‑term license sales but is expected to be beneficial long term.

Full‑year sales and recurring revenue

For fiscal year 2024/2025 net sales rose 9.3% to SEK 3,239.8m (SEK 2,963.6m). Recurring revenue increased 19.9% to SEK 2,067.4m and cloud recurring revenue (CRR) rose 48.9% to SEK 591.1m, showing the continued shift toward service and cloud deliveries.

Order bookings and backlog

Contracted order bookings for the year surged 39.9% to SEK 8,706.1m (6,223.5), of which SEK 7,653.0m related to guaranteed order bookings. In Q4 contracted order bookings jumped 223.4% to SEK 2,900.3m (896.9); SEK 2,382.1m of these were guaranteed, but only ~7% was recognized as revenue in the quarter and a further 15–25% is expected to be revenue within 12 months.

Profitability and cash

Operating profit for the year was SEK 723.0m, which includes SEK 110.0m from a patent settlement. Comparable operating profit (underlying operations) rose 18.4% to SEK 613.0m, giving an operating margin of 18.9% (17.5). Profit for the year was SEK 563.4m. Cash flow from operations strengthened to SEK 922.4m (326.3).

Q4 performance

In Q4 (Feb–Apr 2025) net sales were SEK 914.1m, up 1.8% (4.9% at unadjusted FX). Recurring revenue in the quarter grew 24.0% to SEK 574.6m and CRR rose 61.8% to SEK 184.1m. Q4 operating profit was SEK 198.9m (margin 21.8%) and profit for the period was SEK 131.2m (down from SEK 158.5m). Q4 cash flow from operations was SEK 222.3m (133.7).

Capital returns

The Board proposes an ordinary dividend of SEK 1.10 per share (unchanged) and an extraordinary dividend of SEK 1.00 per share, reflecting strong cash flow and the company’s financial position.

Management commentary and outlook

CEO Torbjörn Kronander highlighted record order bookings, progress in transitioning imaging to service deliveries and high customer satisfaction (Best in KLAS awards). Management warns of near‑term pressure from decreased license sales and profitability impacts as major customers go live, but expects the transition to be beneficial over the long term.