Ratos AB (publ) (RATO_A) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone and thank you for listening in to the Ratos Q4 call. I will start by giving some highlights for the full year of 2025, an important and eventful year for Ratos. A year of change with several strategic milestones that created a more focused and streamlined company. I'll give you some examples. The sale of Airtim, a supplier of technical ventilation solutions in the beginning of the year. The listing of our construction company Sentia on the Oslo Stock Exchange in June. Since then, the share price of Sentia increased more than 30%. And last Friday, Sentia proposed a dividend of 5.5 Norwegian krona, corresponding to a dividend percent of 96%. Diab has continued its focus towards more advanced materials and applications into new industry segments such as subsea and defense. And we finalized the year with a major add-on acquisition in HL Display of the German player Deinser, the largest acquisition in HL Display's history. 2025 also came with challenges that required operational improvement projects in some of our companies, but also made a restriction in plantation that resulted in a reduced and more optimized footprint that is better set up for the future. Plantation is a different structure compared to when we acquired it in 2016. And we did the required balance sheet adjustments in the fourth quarter to reflect the new structure. Today, we also announced that we have divested Exbin Group to Barnet service, Norway's leading railway contractor. This is an important step in the continued streamlining of Ratos to strengthen our focus on long-term value creation. We're pleased that Exbin Group will be backed by Banu Service, a strong and committed owner, as the company continues its journey. And Anna will come back to the specifics on the financial im...