Trading update for FY 2025 (preliminary and unaudited figures)
SP Group A/S
Announcement No. 07 /2026
20 February 2026
CVR No. 15701315
Inside information: Trading update for FY 2025 (preliminary and unaudited figures)
SP Group A/S achieved a new quarterly record for revenue in the fourth quarter of 2025, as well as new records for EBITDA, EBIT and EBT. Accordingly, 2025 was the strongest year to date in terms of both revenue and earnings.
Key figures for Q4 2025 and full-year 2025:
- In Q4 2025, revenue increased by DKK 100 million to DKK 827 million (compared to DKK 727 million in the same period last year), corresponding to growth of 13.7%.
- For the full year, revenue increased by 0.9% to DKK 2,948 million (compared to DKK 2,922 million in 2024).
- EBITDA increased by 1.1% in 2025 to DKK 595 million (compared to DKK 589 million in 2024). The EBITDA margin amounted to 20.2%.
- Profit before tax (EBT) increased by 0.1% in 2025 to DKK 345.0 million (compared to DKK 344.8 million in 2024). The EBT margin amounted to 11.7%.
- Idé-Pro is consolidated effective 31 December 2025, and acquisition-related costs amounted to DKK 4.7 million in 2025.
- Net interest-bearing debt increased to DKK 1,445 million following the acquisition of Idé-Pro, and NIBD/EBITDA increased to 2.5.
- Results are in line with the most recently announced guidance.
Financial highlights and key ratios
| DKKm, except ratios |
Q4 2025 (unaud.) |
Q4 2024 (unaud.) |
2025 (unaud.) | 2024 (aud.) | Growth rate, full year |
| Income statement | |||||
| Revenue | 827 | 727 | 2,948 | 2,922 | 0.9 % |
| Profit before depreciation, amortisation and impairment losses (EBITDA) | 178 | 141 | 595 | 589 | 1.1 % |
| Profit before net financials (EBIT) | 128 | 90 | 398 | 386 | 3.2 % |
| Profit before tax (EBT) | 116 | 91 | 345 | 345 | 0.1 % |
| Balance sheet | |||||
| Non-current assets | 2,526 | 1,877 | |||
| Total assets | 3,958 | 3,162 | |||
| Equity, including non-controlling interests | 1,809 | 1,697 | |||
| Net working capital (NWC) | 856 | 739 | |||
| Net interest-bearing debt (NIBD) | 1,445 | 821 | |||
| NIBD/EBITDA (LTM) | 2.5 | 1.4 |
CEO Lars Bering comments:
“In Q4 2025, we achieved record revenue and earnings and returned to growth. After a turbulent year characterised by geopolitical uncertainty, significant volatility in global markets and a slowdown in the second and third quarters, 2025 was the strongest year in the Group’s history.
Customer needs remain our primary focus. Following the slowdown over the summer, our teams responded swiftly to demand and rapidly increased production.
At the same time, our focused M&A strategy through the acquisition of Idé-Pro will provide us with additional customers and new technologies. We remain committed to acting as a consolidator when value-creating opportunities arise.”
As planned, SP Group A/S will publish its Annual Report for 2025, including its outlook for 2026, on 25 March 2026.
For further information:
CEO Lars Bering
Phone: +45 70 23 23 79
In case of any discrepancies, the Danish version shall prevail.