Momentum Group published the interim report for the third quarter 2025 on 24 October. Here you will find highlights from the report and a quarterly presentation where CEO Ulf Lilius and CFO Niklas Enmark go through the report and give a business update. In the Q&A below, we answer a number of the questions that we have received during the day.

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Ulf Lilius, President & CEO

CEO comment, Q3 2025

Momentum Group displays strength and stability in a quarter characterised by market challenges

Momentum Group continued to deliver earnings growth and healthy profitability despite a challenging and cautious market climate in the third quarter. Through cost adjustments in our companies and strong contributions from the companies acquired during the year, we succeeded in offsetting the effects of a weaker sales trend in comparable units. Revenue increased by 7 per cent during the quarter, and we achieved our highest EBITA ever for a single quarter.

Ulf Lilius, President & CEO

The Group succeeded in offsetting a weaker sales trend for comparable units through cost adjustments and strong contributions from acquisitions in the third quarter of the year – despite continued cautious market demand. As a result, the Group’s revenue increased by 7 per cent and EBITA improved by 7 per cent during the quarter compared with the year-earlier period. Year to date, six companies have been acquired, with a combined annual revenue of approximately SEK 300 million.

Third quarter 2025

  • Revenue increased by 7% to SEK 746 million (694), of which –4% for comparable units.
  • Operating profit increased by 4% to SEK 81 million (78), corresponding to an operating margin of 10.9% (11.2).
  • EBITA increased by 7% to SEK 95 million (89), corresponding to an EBITA margin of 12.7% (12.8).
  • Profit for the quarter amounted to SEK 56 million (55), corresponding to earnings per share of SEK 1.10 (1.05).

January–September 2025

  • Revenue increased by 8% to SEK 2,305 million (2,128), of which –2% for comparable units.
  • Operating profit amounted to SEK 220 million (220), corresponding to an operating margin of 9.5% (10.3).
  • EBITA increased by 4% to SEK 263 million (252), corresponding to an EBITA margin of 11.4% (11.8).
  • Profit for the period amounted to SEK 154 million (152), corresponding to earnings per share of SEK 3.00 (2.95).
  • The return on working capital (EBITA/WC) was 58% (60).
  • The equity/assets ratio was 32% (33) at the end of the period.
  • As of 30 September 2025, the number of repurchased shares of series B amounted to 1,044,259.
  • During the first quarter, Heinolan Hydrauliikkapalvelu, Hörlings Ventilteknik, Sulmu and Avoma were acquired. During the second quarter, Norwegian Håland Instrumentering and TTP Seals were acquired.

Events after the end of the period

  • No significant events have occurred after the end of the period.

A quarterly presentation is available on the company’s website, momentum.group, where Ulf Lilius, CEO and Niklas Enmark, CFO present the report and provide an update on operations.

Q3 Jan-Sep R12 Sep
2025 2024 Δ 2025 2024 Δ 2025 2024 Δ
Revenue 746 694 7% 2 305 1 128 8% 3 050 2 795 9%
Operating profit 81 78 4% 220 220 273 281 -3%
EBITA 95 89 7% 263 252 4% 333 322 3%
Net profit 56 55 2% 154 152 1% 188 196 -4%
Earnings per share before and after dilution, SEK 1.10 1.05 5% 3.00 2.95 2% 3.65 3.80 -4%
Operating margin 10.9% 11.2% 9.5% 10.3% 9.0% 10.1%
EBITA margin 12.7% 12.8% 11.4% 11.8% 10.9% 11.5%
Return on working capital (EBITA/WC) 58% 60%
Operational net loan liability 472 334
Equity/assets ratio 32% 33%

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