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Boreo (BOREO) investor relations material
Boreo Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net sales grew 14% year-over-year to EUR 153.3 million in 2025, with organic growth of 11%.
Operational EBIT increased 17% to EUR 8.0 million, with EBIT margin at 5.2% and EBIT up 64% to EUR 6.7 million.
Fifth consecutive quarter of organic sales growth in Q4 2025, with sales of EUR 46.3 million (+18%), organic growth of 12%, and operational EBIT of EUR 2.8 million (+33%).
Two acquisitions completed in 2025 after a pause in 2024, with integration ongoing and limited profit contribution so far.
CEO transition: Tuomas Kahri to start April 2026, also leading Technical Trade; no CFO recruited as of Q1 2026, with interim roles assigned.
Financial highlights
Q4 2025 net sales reached EUR 46.3 million, up 18% year-over-year, with 12% organic growth.
Q4 operational EBIT was EUR 2.8 million, up 33% year-over-year, with EBIT margin at 6%.
Gross margin for 2025 improved by 1.5 percentage points to 31.7%, with Q4 gross margin at 28%.
Full-year operative cash flow was EUR 7.5 million, with cash conversion at 83% for 2025 and 176% in Q4.
Net debt/operational EBITDA reduced to 2.1x at year-end 2025.
Outlook and guidance
Order books in both business areas are stronger than a year ago, supporting a positive outlook for 2026.
Earnings improvement expected to be weighted toward the second half of 2026, partly due to ERP project costs in H1.
Construction sector remains weak, but defense and metal industry segments show strong prospects.
Focus remains on developing existing companies and pursuing acquisitions that fit ownership criteria.
No separate short-term financial guidance; focus on long-term strategic targets.
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