Coor Service Management
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Coor Service Management (COOR) investor relations material

Coor Service Management 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 summary11 Feb, 2026

Executive summary

  • Q4 2025 saw high market activity, with new and extended contracts in Sweden, Norway, and Denmark, including Huddinge Municipality, Hitachi Energy, and Telia.

  • Significant improvement in cash conversion to 99% for 2025, up from 57% in 2024.

  • Board proposed a SEK 2.5 per share dividend for 2025, including SEK 1.00 extraordinary, and intends to propose a share buyback program at the 2026 AGM.

  • Scope 1 and 2 emissions reduced by 54% vs. 2018, exceeding targets.

  • Patrik Sjölund to become CFO in Q2 2026.

Financial highlights

  • Q4 organic growth was 3.2%, with net sales at SEK 3,224 million, up 1% year-over-year after negative FX impact.

  • Adjusted EBITA for Q4 was SEK 160 million (margin 5.0%), up from SEK 105 million (3.3%) in Q4 2024.

  • Full-year 2025 organic growth was 2%, with adjusted EBITA at SEK 603 million (margin 4.8%), and net income at SEK 218 million, up from SEK 126 million in 2024.

  • Items affecting comparability in Q4 were SEK 29 million, mainly restructuring and integration costs.

  • Cash conversion for 2025 at 99%, above the 90% target.

Outlook and guidance

  • Margins expected to be slightly weaker in H1 2026, with improvements in H2 as cost reductions take effect.

  • Organic growth remains a key focus, with a mid- to long-term target of 4-5%.

  • Adjusted EBITA margin target is approximately 5.5%.

  • Leverage target is below 3.0x net debt/adjusted EBITDA.

  • Items affecting comparability expected to normalize at lower levels in 2026.

Rationale for recurring share buybacks
Growth initiatives offsetting Denmark losses
Address worsening TRIF and missed growth targets
2026 margin outlook: H1 vs H2 drivers
Cash conversion: sustain 90%+ given WC changes
Competitive landscape: margin defense strategy?
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Frequently asked questions

Coor Service Management Holding AB provides facilities management services. Coor, through its subsidiaries, develops project-based service solutions for infrastructure owners and operators in the energy sector. The company operates through two segments: Facilities Management and Energy Services. The Facilities Management segment provides cleaning, hygiene, security, and maintenance services to office buildings and industrial estates located across Sweden; and a range of property management services for commercial properties. The company is based in Kista, Sweden.

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