Regulatory press release

Ratos AB: Increased operating margin and stability in a subdued market

Ratos

Download the release

Q2 2025
Group total

Net sales amounted to SEK 8,083m (9,114)
Adjusted EBITA amounted to SEK 973m (1,101)
The adjusted EBITA margin was 12.0% (12.1%)
Adjusted diluted earnings per share amounted to SEK 1.64 (1.85)
Diluted earnings per share amounted to SEK 9.73 (1.85)
Cash flow from operating activities amounted to SEK 1,069m (1,397)
Adjusted leverage excluding finance leases was 1.7x (1.2x)
Reported EBITA for the quarter was positively impacted by capital gains of SEK 2,813m related to the divestment of airteam and the listing of Sentia

Continuing operations

Continuing operations do not include the Construction segment, which is reported as a discontinued operation following the divestment of airteam and the listing of Sentia
Adjusted EBITA amounted to SEK 867m (923)
The adjusted EBITA margin was 15.5% (15.4%)
Operating profit amounted to SEK 834m (892)
Profit for the period amounted to SEK 555m (580)

January–June 2025
Group total

Adjusted diluted earnings per share amounted to SEK 2.02 (1.92)
Diluted earnings per share amounted to SEK 10.50 (1.92)
Cash flow from operating activities amounted to SEK 784m (1,260)

Continuing operations

Adjusted EBITA amounted to SEK 1,212m (1,149)
Operating profit amounted to SEK 1,269m (1,088)
Operating profit was impacted by items affecting comparability of SEK +117m
Profit for the period amounted to SEK 790m (571)

Significant events during the quarter

The divestment of airteam was completed on 16 May. The capital gain amounted to SEK 480m
On 13 June, Sentia was listed on Euronext Oslo Børs. Following the listing, Ratos’s holding in the company amounts to 39.77%. The capital gain amounted to SEK 2,333m

“The second quarter for Ratos Group was characterized by the sale of airteam and the listing of the Sentia construction group, which together formed the Construction segment. These changes and continued operational efficiency measures contributed to an adjusted EBITA margin of 15.5%, up 3.5 percentage points compared with our previous Group structure.”
Jonas Wiström, President & CEO, Ratos

A presentation of the interim report will be held today at 09.00 a.m. CEST. The presentation will be held in English and will also be available as a webcast on Ratos website, www.ratos.com.

The presentation can be followed on Youtube via the following link;
https://youtube.com/live/nljvhIviOag?feature=share

Participants who wish to ask questions live are asked to pre-register, please send an e-mail to helena.jansson@ratos.com in advance for a personal invitation.

Representatives of the media are welcome to contact Katarina Grönwall, VP Communications, for interview requests.

Stockholm 17 July 2025
Jonas Wiström
President & CEO

About Ratos
Ratos is a Swedish publicly listed business group consisting of 14 companies across three business areas: Construction & Services, Industry and Consumer. The Group operates mainly in the Nordic region, with net sales of SEK 32 billion and an adjusted EBITA of SEK 2.3 billion in 2024, and with a total workforce of around 10,900 employees. Ratos is headquartered in Stockholm, Sweden.

We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in Execution and It’s All About People. We enable independent subsidiaries to excel by being part of something larger.