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Infranord
Infranord (I) investor relations material
Infranord has been private
Infranord Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary12 Feb, 2026
Executive summary
Strong order intake and stable revenue, but negative operating and net results due to project write-downs, especially in Norway.
Strategic focus on cost control and operational efficiency continues, with ongoing implementation of the InfraWay 2027 strategy.
Major new contracts awarded, including a SEK 520 million project for Alvesta–Älmhult and SEK 350 million in power supply maintenance contracts.
Safety initiatives remain a priority, with improved accident frequency (LTIF 4.9, down from 5.0).
Financial highlights
Q4 order intake: SEK 2,061 million (up from 1,063); full-year: SEK 5,980 million (up from 5,365).
Q4 net sales: SEK 1,406 million (down from 1,437); full-year: SEK 5,501 million (up from 5,292).
Q4 operating result: SEK -66 million (improved from -82); full-year: SEK -95 million (down from -36).
Q4 net result: SEK -122 million (down from -82); full-year: SEK -172 million (down from -54).
Q4 operating cash flow: SEK 374 million (up from 180); full-year: SEK 110 million (up from 91).
Outlook and guidance
Expanded government funding for rail maintenance in Sweden and Norway supports future opportunities.
Market remains stable but underfunded for full maintenance needs; efficiency and competitiveness are key.
Ongoing focus on cost control, project execution, and risk management to restore profitability.
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Next Infranord earnings date
Q1 202629 Apr, 2026
Infranord
Next Infranord earnings date
Q1 202629 Apr, 2026
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Frequently asked questions
Infranord is a government-owned enterprise in Sweden, specializing in railway engineering services. This includes the construction and maintenance of railways, leveraging extensive experience and expertise in the field. Infranord operates primarily within Sweden and has also expanded its market presence in Norway. Established as a result of a spin-off in 2010, when the Swedish Transport Administration was created, Infranord emerged from the merger of the Swedish Rail Administration and the Swedish Road Administration. The company is headquartered in Stockholm, Sweden, and its shares are not listed on any stock exchange as it is owned by the Swedish government.
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