Infrea: Improvements in both sales and earnings - ABG

Sales +3%, adj. EBITA +34%, +4% org. growth
'25e-'26e EBITA estimates to increase by 5-10%
Share to react positive on improvements in Land & Construction


Q4 details

Higher sales and earnings vs. ABGSCe, and good cash flow. Sales came in at SEK 650m (+1% vs. ABGSCe), +3% y-o-y of which +4% organic (ABGSCe +3%, +1% Q3'24), driven by improvements in Land & Construction. Adj. EBITA grew +39% y-o-y to SEK 34m (+22% vs. ABGSCe), for a margin of 5.4% (ABGSCe 4.4%, 4.1% Q4'23) driven by continued improvements in challenging businesses such as Siljan Schakt. FCF was strong, while gearing was lower R12 at 1.7x (2.6x). The Board of Directors proposes a dividend of SEK 0.50 (SEK 0.0 '23) per share.

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/infrea/Equity-research/2025/2/infrea---improvements-in-both-sales-and-earnings/