Year-end report 2025

FOURTH QUARTER

• Consolidated net sales increased by 8.4 percent to SEK 170.1 million (157.0).
• Operating profit (EBIT) amounted to SEK 14.9 million (13.7).
• Earnings per share before and after dilution amounted to SEK 0.29 (0.13).

FULL-YEAR 2025, JANUARY-DECEMBER

• Consolidated net sales increased by 5.1 percent to SEK 667.6 million (635.3).
• Operating profit (EBIT) amounted to SEK 67.6 million (66.3).
• Earnings per share before and after dilution amounted to SEK 1.65 (1.26).
• The Board of Directors intends to propose that the Annual General Meeting approve a dividend of SEK 0.70 (0.70) per share for the 2025 financial year.

SIGNIFICANT EVENTS AFTER THE END OF THE FOURTH QUARTER

• Railcare has decided to wind down its operational activities in the United Kingdom
• Railcare acquires radio control technology for locomotives.
• The Swedish Transport Administration exercises option year for clearance locomotives, worth SEK 45 million.

CEO COMMENTS
Net sales in the fourth quarter totalled SEK 170.1 million (157.0) and operating profit amounted to SEK 14.9 million (13.7). This corresponds to an operating margin of 8.8 percent (8.8).

“We delivered a stable fourth quarter, with the Transport operations acting as the main driver. The fixed contracts within the Transport operations contribute to stability across the Group. Within the Contracting operations, assignments were postponed due to early and heavy snowfall in the southern and central parts of the country.”

Stable fourth quarter with Transport as the main driver 
The Transport operations continued to perform strongly. The standby assignments initiated during the year mean that start-up costs are now being offset by income. In addition, the operations carried out a higher volume of contracting transport assignments compared with the same period last year, while fixed contracts continued to run according to plan.

Railcare has decided to wind down its operational activities in the United Kingdom
Despite the significant maintenance need, Railcare’s contracting operations in the UK have experienced declining volumes in recent years due to insufficient government funding. The anticipated increase in volumes required to continue operating the business in the United Kingdom profitably has not materialised.

Projects currently scheduled will be completed. The process to wind down the UK operation will begin immediately. The company will review the option of leasing out the machines currently established in the United Kingdom.

We are certain that our machines and methodology can help address many of the challenges facing British railways.

Railcare acquires radio control technology and new property in Långsele
The locomotive workshop in Långsele has acquired the rights to a radio-control system for locomotives and can now offer a comprehensive solution to both existing and new customers, providing efficient and safe solutions. Adjacent to the locomotive workshop, Railcare has also acquired Långsele station building, which includes sidings with direct rail access to the property.

These strategic acquisitions enable a continued evaluation of a potential extension and expansion of the operations in Långsele. Overall, the locomotive workshop has strong potential for further development. With its strategic location in Sweden, in close proximity to several key railway corridors, the site is particularly well suited for rapid response operations where high availability is also required. This is of significant importance from both an infrastructure and defence standpoint. 

Trafikverket exercises option year for clearance locomotives
Railcare has a total of ten standby assignments for clearance locomotives, four of which relate to locations in northern Sweden (Långsele, Boden, Vännäs and Kiruna). These assignments commenced in August 2022, and the agreement was initially valid until the end of 2026. Trafikverket has now chosen to exercise the option in the agreement and extend the assignments by a further year, until the end of 2027. The agreement is worth approximately SEK 45 million.

Mattias Remahl
CEO