STOCKHOLM, Feb. 4, 2026 /PRNewswire/ — October–December 2025
- Total sales MSEK 38 422 (41 794)
- Organic sales growth 3 percent (4)
- Adjusted organic sales growth, 4 percent*
- Real sales growth within technology and solutions 6 percent (6)
- Operating income before amortization MSEK 3 063 (3 036)
- Operating margin 8.0 percent (7.3)
- Adjusted operating margin, 8.2 percent (7.5)*
- Items affecting comparability (IAC) MSEK –78 (–128)
- Earnings per share, SEK 2.98 (2.86)
- Earnings per share before IAC, SEK 3.06 (3.05)
- Cash flow from operating activities 128 percent (153)
January–December 2025
- Total sales MSEK 155 113 (161 921)
- Organic sales growth 4 percent (5)
- Adjusted organic sales growth, 4 percent*
- Real sales growth within technology and solutions 5 percent (6)
- Operating income before amortization MSEK 11 493 (11 200)
- Operating margin 7.4 percent (6.9)
- Adjusted operating margin, 7.7 percent (7.1)*
- Items affecting comparability (IAC) MSEK –1 848 (–1 285), whereof MSEK –1 462 (0) related to the close-down of the government business within SCIS
- Earnings per share SEK 8.93 (9.01)
- Earnings per share before IAC, SEK 11.55 (10.81)
- Net debt/EBITDA ratio 2.1 (2.5)
- Cash flow from operating activities 88 percent (84)
- Proposed dividend for 2025 of SEK 5.30 (4.50) per share, distributed in two equal installments
* A new key ratio, operating margin adjusted for the government business within SCIS in the process of being closed down, was added as of the second quarter 2025. A new key ratio, organic sales growth adjusted for the same business, was added as of the third quarter 2025. Refer to note 5 for further information.
Comments from the President and CEO
“8 percent operating margin target achieved”
“We delivered a strong fourth quarter and exceeded our target to achieve an operating margin of 8 percent in the second half year of 2025. Performance was strong across all segments. North America recorded 10 percent operating margin for the first time in our history and Europe delivered another quarter with more than 8 percent operating margin.
Organic sales growth was in line with our expectations. Technology and solutions real sales growth was 6 percent, an important improvement supporting continued mix change in the business.
Cash generation was solid in the quarter. For the full year operating cash flow was 88 percent (84) of …