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Instalco (INSTAL) investor relations material
Instalco Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
- Net sales for Q3 2025 declined by 3.7% year-over-year to SEK 3,028 million, with LTM sales at SEK 13.4 billion. 
- EBITA margin held steady at 6.0% in Q3, with adjusted LTM EBITA margin at 6.4%. 
- Order backlog increased 5.8% year-over-year to SEK 9,026 million, with growth mainly driven by Norway. 
- Margin improvement and operational excellence are top priorities, with a new country-based organization and updated operational model implemented. 
- The German platform expanded to 20 companies through three new acquisitions, adding €19 million in annual sales. 
Financial highlights
- Q3 net sales were SEK 3,028 million, down 3.7% year-over-year, with an organic decrease of 3.3%. 
- Q3 EBITA was SEK 180 million, with a flat margin of 6.0%. 
- Cash flow from operations in Q3 increased by 12% to SEK 133 million, with a rolling 12-month cash conversion of 112%. 
- Service business grew 2% in Q3 and accounted for 37% of sales. 
- Earnings per share before and after dilution were SEK 0.24 in Q3. 
Outlook and guidance
- Margin improvement is prioritized over volume growth, with a target to return to at least 8% EBITA margin. 
- Management expects organic growth to return as the market improves, with recovery anticipated in 2026. 
- Strategic targets include ≥10% average sales growth, 8% EBITA margin, 100% cash conversion, and a 30% dividend payout ratio. 
- New reporting segments and country-based organization to be fully in force by January 2026. 
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Frequently asked questions
Sustainable installation services
Instalco is a provider of technical installation services in the Nordic region. With a broad range of expertise, they offer solutions in areas such as heating, plumbing, ventilation, electrical, and cooling systems. Instalco's skilled professionals collaborate closely with customers to deliver installations tailored to their specific needs. Their service portfolio covers both new construction projects and renovations, catering to various sectors including residential, commercial, and industrial. By combining technical experience with a customer-centric approach, Instalco ensures efficient and reliable installations that meet the highest industry standards.
A Swedish company focusing on the Nordic market
Instalco is a Swedish company and is listed on the Stockholm stock exchange. They focus on the Nordic market, with a large part of their business taking place in Sweden, but they also have offices and conduct installations in Norway and Finland. Some of Instalco’s publicly traded peers and competitors are Bravida and Caverion.
Installing everything from solar panels to ventilation systems
Their teams provide solutions in heating, ventilation, plumbing, electrical, cooling, and other related areas. In the heating sector, Instalco delivers efficient and sustainable solutions for both residential and commercial properties. For ventilation, they design and install systems that ensure optimal indoor air quality. In plumbing, their services cover everything from sanitary installations to water supply and drainage systems. Instalco also handles various types of electrical installations for customers.
A focus on sustainability and green solutions
Instalco places a great emphasis on providing installations that not only serve a practical purpose and fulfill the high security standards in residential and commercial buildings, but also ensure that the process and the results are as green as possible. Instalco has responded to the increasing demands for ESG-friendly solutions from businesses by ensuring that their installations are kind to the environment. On the same note, the company also installs various solar power solutions on a varying scale from small solutions to larger solar panel systems.
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