Strong Organic Order and Revenue Growth
Organic order intake +15% and organic revenue +12% in Q4; total order intake +4% and total revenue +1% after currency effects.
Robust Profitability and Margins
Adjusted EBITA ~SEK 6.4bn in the quarter with an adjusted EBITA margin of 19.6% (rolling 12-month margin 19.3%, up from 19.2%). Adjusted profit for the period SEK 4.2bn (up from SEK 4.1bn).
Very Strong Cash Generation
Free operating cash flow SEK 6.7bn in the quarter; cash conversion 110% in Q4 and 95% for the full year.
Mining Outperformance
Mining total order intake +5%, organic +17%; equipment growth +39% (ex-major-orders organic +12%). Mining adjusted EBITA SEK 3.8bn with margin 21.5% and operating leverage of 32%.
Geographic Breadth of Growth
Solid growth across regions: Europe +13%, North America +9%, Asia +14%, Australia +43%, South America +13%, Africa & Middle East +5%; China cutting tools grew double digits.
Strategic and Digital Momentum
Digital Mining Technologies and Intelligent Manufacturing achieved double-digit order growth; two large automation orders in Mining; Metrologic launched Copilot AI integration and a New Machining Module; Rock Processing launched a new automated Jaw Crusher platform (internal innovation award).
Operational Leverage & Cost Savings
Group revenue-driven EBITA leverage ~31%; restructuring savings contributed SEK 131m in the quarter and segment savings boosted margins (Machining & Intelligent Manufacturing savings ~SEK 103m). Acquisitions were slightly accretive (20 bps).
Balance Sheet and Capital Allocation Progress
Net financial debt reduced to SEK 27bn; net debt (including leases/pensions) SEK 34bn; net debt/EBITDA ~0.9. Active M&A pipeline and guidance CapEx FY 2026 at SEK 4.0–4.5bn.