Troax Group AB

TROAX

Equity

ISIN SE0012729366 / Valor 48373761

NASDAQ Nordic Exchange Stockholm, Equities (2026-07-29)

SEK 135.80-3.82%

Troax Group AB
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About company

Troax Group AB is a Swedish industrial manufacturer and supplier of modular steel-mesh safety and storage solutions for factories, warehouses and logistics operations. The company produces welded mesh panels, doors, gates, cages and complete machine-guarding and storage partition systems that are sold to manufacturing companies, machine builders, warehouse operators and other industrial customers; its offering includes standardized modular components, tailored layouts and installation and aftermarket services to secure people, goods and equipment and to help customers meet regulatory safety requirements. Troax operates production and sales across several countries and sells through direct and distributor channels, and it is listed on Nasdaq Stockholm.

Summarized from source with an LLMView SourceSector: Industrials

Sales and order intake

Q4 2025 order intake was 64.4 MEUR (−5% vs Q4 2024; −3% organically). Q4 sales were 61.2 MEUR (−8% vs Q4 2024). For Jan–Dec 2025, order intake was 261.4 MEUR (−6%) and sales 262.4 MEUR (−6%). APAC was the only region growing; Europe and Americas weakened.

Profitability and margins

Adjusted EBITA in Q4 2025 fell to 6.6 MEUR (EBITA margin 10.8% vs 17.2% a year earlier). Full‑year adjusted EBITA was 36.3 MEUR (EBITA margin 13.8% vs 17.3% in 2024). Reported EBIT for the year was 22.8 MEUR.

One‑off costs and operational items

Q4 included one‑off items of −4.2 MEUR (double rents, relocation costs, impairments); an additional ~−2.2 MEUR one‑offs are expected in H1 2026 related to the US factory move. These items materially reduced quarterly profitability.

Net result, EPS and cash flow

Profit after tax was 0.0 MEUR in Q4 2025 (8.2 MEUR in Q4 2024) and 13.5 MEUR for the full year (31.3 MEUR in 2024). Adjusted EPS after dilution was EUR 0.07 in Q4 and EUR 0.40 for 2025; reported diluted EPS was EUR 0.00 (Q4) and EUR 0.23 (FY).

Investments and net debt

Investments were elevated: 28.1 MEUR in Q4 and 35.9 MEUR for 2025 (includes US machinery and acquisitions). Net debt at year‑end was 75.3 MEUR (net debt/EBITDA excl. IFRS16 1.7x), within the company’s target of <2.5x.

Acquisitions and strategic moves

Troax completed acquisitions in Q4: Dancop (Denmark) and Stommpy (Italy); the Vichnet (China) deal signed Oct 2025 closed in early Jan 2026. The company is centralizing/streamlining factories (Poland → Sweden; US move Chicago → Nashville) to improve medium‑term competitiveness.

Dividend and outlook

The Board proposes a dividend of EUR 0.24 per share (vs 0.34 EUR prior year). Management notes continued soft demand but expects benefits from restructuring, price adjustments and new factory capacity to improve results in 2026; longer‑term targets: ≥550 MEUR sales by 2030 and adjusted EBITA >20% over a cycle.

Summarized from source with an LLMView Source

Key figures

-0.59%1Y

-28.5%3Y

-57.0%5Y

Performance

43.2%1Y

37.0%3Y

41.2%5Y

Volatility