Afry Ab (AFXXF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone and warm welcome to our presentation of AFRIS Q3 results. I will begin with some of the highlights from the quarter and then our CFO Bo Sandström will provide a more detailed overview of the financials. So in the third quarter, we delivered stable results and improved our EBITDA margin to 6.4%. We also saw positive development of the order backlog, which increased 3.6% compared to the same period last year, or 5.3% when adjusted for currency effects. We achieved this despite a decline in net sales, with a total year-over-year growth of minus 5.1%. Similar to what we saw in the second quarter, currency effect had a significant negative impact on sales. For Q3, it amounted to minus 118 million Swedish crowns. Sales volumes were also impacted by a challenging market we experienced in parts of our business, mainly in our global division industry. The third quarter was also the first within our new group structure and our three global divisions. Under the new group structure, we have intensified our efforts to improve utilization and to structurally address the cost base. As part of this, we have continued executing on the restructuring agenda that we initiated during the second quarter. And for the third quarter, we report restructuring costs of 31 million Swedish kronor related to this, and they are classified as item affecting comparability. So to summarize, I can conclude that we have been able to deliver stable results despite the decline in net sales, and we continue our efforts to pave the way for profitable growth. Moving on then to the market, and let's start with energy. We see a continued strong long-term demand across segments and on a global scale. Market activity is particularly high in areas such as transmission and distribution, hydro...