SIBEK (SIBEK) Q3 24/25 earnings summary

Executive summary

• Revenue grew 5.1% year-over-year in Q3 to 34,423 TSEK, with EBIT margin at 10.8% (down from 13.0%).

• Nine-month revenue increased 15.8% to 121,951 TSEK, with EBIT up 65.8% to 23,512 TSEK and margin at 19.3%.

• Activity in commissioning services was seasonally lower, while design and project management remained strong.

• No significant events occurred during the quarter; two major contracts were signed post-period, valued at 8.9 MSEK.

Financial highlights

• Q3 EBIT fell 12.2% year-over-year to 3,734 TSEK; EPS was 0.31 SEK (vs. 0.36 SEK).

• Q3 EBITDA margin was 11.0% (down from 13.1%); nine-month EBITDA margin was 19.4%.

• Cash flow from operations in Q3 was 19,140 TSEK, driven by collection of receivables from a strong Q2.

• Cash position at quarter-end was 44,194 TSEK, up from 25,986 TSEK a year earlier.

Outlook and guidance

• Strong order backlog and high activity expected in commissioning and design through spring and summer 2025.

• Project and construction management to maintain high intensity, supported by ongoing contracts with Trafikverket.