Relais Group
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Relais Group (RELAIS) investor relations material

Relais 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 summary13 Feb, 2026

Executive summary

  • Net sales grew 19% to EUR 383.4 million in 2025, driven by eight acquisitions, despite a decline in organic growth.

  • New CEO appointed in January 2026, emphasizing a decentralized business model and disciplined capital allocation.

  • Transitioning to three business areas: Commercial Vehicle Services, Products and Solutions, and Technical Wholesale, effective Q1 2026.

  • Board proposes a dividend of EUR 0.30 per share for 2025, down from EUR 0.50, representing 35% of EPS.

  • Cash flow from operations remained strong at EUR 33.9 million.

Financial highlights

  • Q4 2025 net sales grew 29% year-over-year to EUR 116.6 million; full-year net sales up 19% to EUR 383.4 million.

  • Comparable EBITA for Q4 was EUR 10.8 million (+2%); full-year EUR 38.4 million (+5%).

  • Gross margin improved to 48.7% for the year (from 46.9%).

  • Basic EPS for 2025 was EUR 0.81 (down 21%); profit for the year was EUR 15.7 million.

  • Record Q4 operating cash flow of EUR 24.9 million, driven by positive net working capital changes.

Outlook and guidance

  • Demand expected to remain stable in 2026, but market uncertainty persists.

  • Focus for 2026 on operational excellence, profitability, and capital efficiency; robust M&A pipeline but selective approach due to leverage.

  • Updated strategy and new financial targets to be presented before summer 2026.

Strategic update focus and new EBITA targets
Plan to reduce Net Debt to EBITDA ratio
How to improve organic sales and EBITA margin
Impact of business mix on group EBITA margin?
How new BAs enhance value creation?
Detail 2026 capital efficiency actions
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Frequently asked questions

Relais Group imports and wholesales vehicle electrical equipment and spare parts in the Nordic and Baltic countries. The Group also provides logistics services and technical product support. Customer oriented service is the key factor in the success of Relais. In addition to the mechanical spare parts, we supply a very wide range of electrical equipment, such as batteries, accessories, lights, wipers, starters, alternators and electronics for most vehicles.

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