Ferronordic (FNM) Company presentation summary

Business model and strategy

• Operates as a dealer for leading brands in construction equipment and trucks across the US, Germany, and Kazakhstan, with a focus on sales, service, rentals, and aftermarket support.

• Strategic objectives include market leadership, geographic expansion, digital service platforms, and sustainable transport services.

• Emphasizes customer centricity, operational excellence, and building on strong brands and experienced teams.

• Sustainability is integrated, with preparations for ESRS reporting and a focus on decarbonization and circular economy.

• Positioned to benefit from trends in electrification, infrastructure investment, and shared asset models.

Market presence and operations

• US segment is the largest, accounting for 64% of revenue, with a strong presence through the Rudd Equipment acquisition and recent expansion into Iowa.

• Germany covers 18% of the heavy truck market, with 20 outlets and a focus on service network expansion and electric truck rentals.

• Kazakhstan is a regional hub with growing infrastructure needs, supported by government investment and a leaner operational structure.

Financial performance and highlights (Q4 and FY2025)

• Q4 2025 revenue decreased by 10% to SEK 1,211m, but gross profit rose 12% and operating profit reached SEK 31m despite one-off costs.

• FY2025 revenue fell 6% to SEK 4,566m, with gross profit up 2% and operating margin improving to 1.7%.

• Net debt reduced to SEK 1,616m, with net debt/EBITDA improving to 3.4x.

• US operations saw revenue and operating profit growth, Germany improved margins despite lower sales, and Kazakhstan returned to break-even.