BTS Group: 2025 guidance as expected - ABG

Another year with raised DPS (16th year of the last 22 years)
Q4 sales miss (0% org growth), but adj. EBITA +1% vs cons
"2025 EBITA better than 2024" as expected, cons to cut EBTA 1-3%


Q4 details

Sales SEK 796m (-3% vs ABG 823m, -5% vs cons 838m), adj. EBITA 136m (0% vs ABG 135m, 1% vs cons 135m), adj. EBITA margin 17.0% (ABG 16.4%, cons 16.1%). FX adj growth 3% (vs ABG 9%). DPS SEK 6.10 (3% vs ABG 5.90, -3% vs cons 6.32).

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/bts-group/Equity-research/2025/2/bts-group---2025-guidance-as-expected/