AQ Group
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AQ Group (AQ) investor relations material

AQ Group Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary12 Feb, 2026

Executive summary

  • Achieved record annual turnover of SEK 9,071 million in 2025, with profit every quarter since 1994 and a strong net cash position.

  • Exposed to high-growth industrial segments: electrification, data centers, defense, and MedTech.

  • Expanded through acquisitions in Germany, Czech Republic, and Sweden, and invested in advanced production lines.

  • Operating profit (EBIT) for 2025 was SEK 840 million, with profit after tax at SEK 677 million.

  • Board proposes a dividend of SEK 1.80 per share, up from SEK 1.60.

Financial highlights

  • Q4 2025 sales increased 9% year-over-year to SEK 2,323 million; full-year net sales up 6% to SEK 9,071 million.

  • Q4 operating profit up 5% to SEK 216 million; profit after tax SEK 168 million.

  • Full-year EBT margin was 9.2%; Q4 EBT margin was 9.1%.

  • Cash flow from operating activities was SEK 921 million for the year.

  • Net cash position at year-end was SEK 427 million; equity ratio at 68%.

Outlook and guidance

  • Strong demand expected in power grid electrification, data centers, and defense; slower in trucks, buses, and food equipment.

  • Targeting at least 5% annual growth from acquisitions, with SEK 500 million turnover as a goal for 2026.

  • Management maintains goals of >15% growth and >8% EBT margin.

  • Anticipates more defense deliveries in 2026 as customers catch up on orders.

  • Focus on profitable growth, quality, and delivery precision.

Mitigate transformer business risks
Acquired entities' path to 8% EBT margin
Improve operating cash flow drivers
Data center order book value and delivery plan
Rank Q4 margin impact factors
M&A pipeline focus and target company profile
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Frequently asked questions

AQ Group AB develops and manufactures components and systems for environmental technology for industrial customers in Sweden, rest of European countries, and internationally. The company's products may be found in a broad range of industries including appliance manufacturing, automotive manufacturing, construction, food processing, oil and gas, packaging, wood processing. AQ primarily serve customers with the medium to larger size companies. Sales are generated mainly through impact- and supply chain companies as well as sales offices established in Europe.

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