Organic Order and Revenue Growth (FY2025)
Orders grew organically 7% to SEK 63 billion and revenues grew 2% to SEK 62 billion for the full year 2025 despite currency headwinds.
Strong Q4 Momentum
Q4 orders increased organically 11% (total orders down 1% due to currency) to almost SEK 16 billion; Q4 revenues grew 4% organically. Equipment orders in Q4 rose 22% organically and service orders grew 6% organically.
High Adjusted Operating Margin Maintained
Adjusted operating margin for the year was 19.6% (vs 19.8% prior year) and Q4 adjusted operating margin was 19.6% (vs 19.7% in Q4 2024), showing resilience amid tariffs and FX headwinds.
Record and Landmark Automation Projects
Completed conversion of Roy Hill mixed fleet to driverless operation (78 haul trucks and ~250 ancillary vehicles) and fully automated a production level at Newmont Cadia underground; driverless machines in operation exceeded 3,900, up 13% vs 2024.
Largest Ever Order and Electrification Wins
Secured largest-ever contract: SEK 2.2 billion over 5 years to deliver ~50 fully autonomous electric surface blasthole rigs to Fortescue. Electrification revenues reached 3.8% of group revenues; 40 mines ordered BEVs in 2025.
Productivity Gains from Electrification Pilots
Boliden Rävliden 5-km battery trolley line delivered: productivity +23%, ramp speeds +50%, maintenance costs -25%, diesel consumption -80%, demonstrating material operational benefits.
Tools & Attachment Profit Improvement
Tools & Attachment operating profit rose 65% YoY to SEK 537 million in Q4 (highest ever for the business area); adjusted margin improved to 12.3% from 8.4% a year ago, driven mainly by efficiency measures and footprint consolidation.
Improved Balance Sheet and Cash Generation
Net debt reduced to SEK 11.0 billion from SEK 14.8 billion a year earlier; net debt / EBITDA improved to 0.73 (from 0.93). Cash position SEK 9.6 billion; 12-month cash conversion at 90%.
Safety and Workforce Progress
Total recordable injury frequency rate improved to 3.9 from 4.3 year-over-year. India footprint expanded (1,300+ employees) with double-digit growth and new production / R&D hub initiatives.
Dividend Discipline
Board proposes ordinary dividend SEK 3.80 per share (unchanged), SEK 4.6 billion total, representing 53% of net profit and consistent with dividend policy.