Organic Sales Growth Near Target
Organic sales of SEK 131 billion, representing organic sales growth of 3.9% (close to the midterm 4% target).
Improved Operating Income and Margin
Operating income of SEK 3.7 billion, equal to 2.8% of net sales, an improvement of 0.8 percentage points versus prior year.
Achievement of Cost Reduction Target
Delivered SEK 4.0 billion in cost reductions (upper end of guided SEK 3.5–4.0 billion) driven by procurement, value engineering and conversion efficiencies; guidance for SEK 3.5–4.0 billion again in 2026.
Very Strong Q4 Cash Flow
Operating cash flow in Q4 of SEK 5.2 billion, bringing full-year operating cash flow to SEK 2 billion and supporting liquidity (SEK 32.7 billion including revolver).
Market Share Gains and Regional Strengths
Gained market share in Europe, Asia Pacific, Middle East & Africa and Brazil; flat market share in North America. Europe APACMEA region grew organically 3.6% in Q4 while the market declined 1%.
Sustainability and Product Innovation Progress
Progress on sustainability targets: reported 45% (toward declared 85% Scope 1 & 2 reduction target), Scope 3 progress 33%, 23% recycled material in products (target 35%), incident rate ~0.33. Launched product innovations (new oven pizza feature, new kitchen lines, new dishwasher) supported by increased marketing.
Improved Leverage and Capital Structure Actions
Net debt/EBITDA improved to ~3.0x; amortized ~SEK 2 billion long-term borrowing in Q4 and drew down EIB loan USD 230 million; full-year CapEx expected to increase to ~SEK 4 billion in 2026 while maintaining solid liquidity and no financial covenants.