Karnell Group AB ser. B (KARNEL_B) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone and welcome to Kanell's third quarterly report and this earning call for Q3. I'm Petter Modellinius, CEO of Kanell and with me today is our CFO Lars Neret. As usual we'll begin with an overview of the quarter and how our strategy continues to drive profitable growth. Lars will then take you through the financials more in detail, look at the segment performance and afterwards we'll return to discuss our latest acquisition and key takeaway before we open the floor for questions. As a short reminder for our recurring audience, but also then for those joining us for the first time, Kennell is an active and long-term owner of industrial technology companies. We're focusing on acquiring small to medium-sized businesses with strong position in niche markets, guided by our disciplined acquisition strategy that prioritizes quality and industrial leadership. Today, KANEL comprises of 18 companies across Finland, Sweden and the UK, and we employ about 750 people. As always, our goal is transparency and focus, highlighting here what matters most for value creation to our group. And with that, let's dig into the Q3 results. Canal continued to combine growth with improved profitability, delivering the group's highest margin and return on capital to date. The revenue increased by 22% to 436 million, supported by around 4% organic growth. EBITDA rose 26% to 69 million, corresponding to a margin of 15.9% compared to 15.4% last year, which is a clear improvement achieved again versus a strong Q3 in 2024. Also very happy to see that both our business areas contributed positively. Product companies showed strong development driven by both our acquisitions and solid organic growth. Niche manufacturers delivered stable performance and maintained good efficiency in a ...