BHG Group AB (publ) (BHG) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hi and welcome. My name is Gustav Ord, CEO of BHG. I'm here together with Jesper Flemme, CFO, to present our Q4 and year end report. We will also be available after the presentation to do our best to answer your questions. Next slide, please. This time, let me first take the opportunity to summarize the full year. Super proud of the year's achievement in 2025. We have delivered on what we set out to do. Entering the year, we defined three core tactical focuses. And now summarizing the year, I can firmly say that we have delivered on all three of them. One, we have taken market share in a gradually strengthening market. The market has improved during the year, but I can with confidence say that with plus 9% organic growth, we have grown more than the market and taken market share. Two, we have managed to maintain our cost levels and with growth at the main lever, we have improved our profitability with more than 50% versus previous year. And three, we have continued to improve on the customer experience across our destinations. Next slide, please. Back to Q4. With a well-executed black month as the main growth driver, we have for the second consecutive quarter delivered double-digit growth with a plus 10% growth in the quarter and continued growth in all three business units. We are confident that we have outgrown the market also in the fourth quarter. In the quarter, we also report a significantly improved profitability, reporting 158 million SEC in earnings, which corresponds to a 48% improvement versus previous year. The improvement in earnings comes primarily from top-line growth in combination with a strengthened product margin, as well as direct selling costs and SG&A well in control. Of course, we are very happy about the growth in the quarter, But I would also...