Record Order Intake and Backlog Growth
Order intake increased by +191% (organically ~200%) in the quarter, reaching SEK 9.2 billion in total orders (with SEK 5.7 billion announced pre-report); order backlog increased 53% (currency-adjusted ~80%), supporting strong future invoicing.
Exceptional Data Center Demand
Data Center Technology delivered an extraordinary quarter (book-to-bill ~7x), driven by AI-related investments and broad customer demand, with ~95% of DCT orders in the Americas.
Strong Future Invoicing Visibility
Management expects at least a +30% (and up to +40%) increase in Data Center invoicing in 2026 driven by backlog and ramping production capacity.
Production Capacity Built for Growth
Company reports capacity to handle ~50% more orders, with a new Virginia production facility and test lab coming online (test lab up and running in Q2) to localize U.S. production.
Solid Full-Year Net Sales and Margin
Full-year net sales grew +8% (currency-adjusted +15% noted by management) with an adjusted EBITA margin of ~12.7% for the year.
Strong Cash Flow and Working Capital Discipline
Q4 delivered strong operating cash flow supported by operating working capital improvements (operating working capital / net sales at ~7.3%), enabling acquisition-related payments and debt management.
FoodTech Transformation and Recurring Revenue Growth
FoodTech is now fully digital/software-driven with low churn (~2%) and ARR expected to grow 20-30% year-over-year over time; margins remain strong despite quarter fluctuations.
Operational Improvement Programs
AirTech efficiency programs expected to deliver SEK 100 million in 2026 and a second program targeting SEK 250–300 million run rate by year-end, with phased savings already beginning to accrue.
Innovation Momentum
Innovation 'vitality index' exceeds 50%; product R&D and new media/AI-enabled controls are positioned to deliver significant energy-efficiency gains (10–20% per improvement area, up to ~40% combined).