N 
10.20
-0.49%
Close of 9 Nov 2026, in SEK
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At a glance
Figures in SEK, from our data supplier.
Revenue
SEK 5.62bn
FY2016FY2025
Net income
−SEK 2.97bn
FY2016FY2025
Free cash flow
−SEK 345.0m
FY2016FY2025
Shareholders' equity
SEK 947.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 5.62bn | SEK 10.54bn | SEK 13.37bn | SEK 14.93bn | SEK 13.72bn | SEK 12.74bn | SEK 13.93bn | SEK 13.21bn | SEK 12.74bn | SEK 12.65bn |
| Gross profit | SEK 1.90bn | SEK 3.84bn | SEK 4.64bn | SEK 5.36bn | SEK 5.28bn | SEK 4.44bn | SEK 5.30bn | SEK 5.09bn | SEK 5.01bn | SEK 4.93bn |
| Operating income | −SEK 205.0m | −SEK 827.0m | −SEK 99.0m | SEK 139.0m | SEK 1.01bn | SEK 437.0m | SEK 1.13bn | SEK 1.04bn | SEK 1.29bn | SEK 1.30bn |
| Net income | −SEK 2.97bn | −SEK 1.34bn | −SEK 347.0m | −SEK 2.0m | SEK 706.0m | SEK 253.0m | SEK 810.0m | SEK 753.0m | SEK 1.01bn | SEK 456.0m |
| Diluted earnings per share | -44.13 | -19.95 | -20.62 | -0.12 | 41.94 | 14.97 | 47.93 | 44.64 | 60.17 | 27.03 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SEK 9.04bn | SEK 12.30bn | SEK 13.62bn | SEK 12.77bn | SEK 10.63bn | SEK 10.09bn | SEK 10.85bn | SEK 7.77bn | SEK 7.18bn | SEK 8.01bn |
| Cash and short-term investments | SEK 39.0m | SEK 270.0m | SEK 412.0m | SEK 340.0m | SEK 422.0m | SEK 635.0m | SEK 257.0m | SEK 128.0m | SEK 473.0m | SEK 1.00bn |
| Total liabilities | SEK 8.09bn | SEK 7.97bn | SEK 9.29bn | SEK 8.06bn | SEK 5.71bn | SEK 6.05bn | SEK 6.57bn | SEK 3.87bn | SEK 3.03bn | SEK 4.59bn |
| Debt | SEK 3.14bn | SEK 4.97bn | SEK 5.45bn | SEK 3.94bn | SEK 2.21bn | SEK 2.47bn | SEK 3.60bn | SEK 916.0m | SEK 1.0m | SEK 801.0m |
| Shareholders' equity | SEK 947.0m | SEK 4.32bn | SEK 4.33bn | SEK 4.71bn | SEK 4.92bn | SEK 4.03bn | SEK 4.28bn | SEK 3.90bn | SEK 4.15bn | SEK 3.42bn |
| Shares outstanding | 67m | 67m | 17m | 17m | 17m | 17m | 17m | 17m | 17m | 17m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SEK 154.0m | SEK 210.0m | SEK 890.0m | SEK 919.0m | SEK 1.54bn | SEK 2.07bn | SEK 1.63bn | SEK 1.00bn | SEK 987.0m | SEK 1.28bn |
| Capital spending | −SEK 499.0m | −SEK 887.0m | −SEK 1.52bn | −SEK 1.68bn | −SEK 892.0m | −SEK 308.0m | −SEK 465.0m | −SEK 414.0m | −SEK 319.0m | −SEK 290.0m |
| Free cash flow | −SEK 345.0m | −SEK 677.0m | −SEK 627.0m | −SEK 765.0m | SEK 648.0m | SEK 1.76bn | SEK 1.17bn | SEK 587.0m | SEK 668.0m | SEK 991.0m |
| Dividends paid | — | — | — | −SEK 421.0m | −SEK 338.0m | −SEK 338.0m | −SEK 675.0m | −SEK 1.18bn | −SEK 505.0m | −SEK 421.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SEK 1.50bn | SEK 1.42bn | −SEK 1.86bn | SEK 2.31bn | SEK 2.69bn | SEK 2.47bn | SEK 2.51bn | SEK 2.48bn |
| Gross profit | SEK 551.0m | SEK 491.0m | −SEK 870.0m | SEK 858.0m | SEK 979.0m | SEK 934.0m | SEK 943.0m | SEK 898.0m |
| Operating income | SEK 70.0m | SEK 58.0m | SEK 1.74bn | SEK 33.0m | −SEK 12.0m | −SEK 6.0m | −SEK 575.0m | −SEK 37.0m |
| Net income | SEK 4.0m | −SEK 99.0m | −SEK 228.0m | −SEK 1.91bn | −SEK 103.0m | −SEK 124.0m | −SEK 856.0m | −SEK 83.0m |
| Diluted earnings per share | 0.03 | -0.65 | -3.39 | -28.39 | -1.53 | -1.84 | -12.72 | -1.23 |
| Cash from operations | SEK 129.0m | −SEK 33.0m | −SEK 25.0m | SEK 55.0m | SEK 236.0m | SEK 28.0m | SEK 332.0m | −SEK 20.0m |
| Capital spending | −SEK 113.0m | −SEK 72.0m | −SEK 139.0m | −SEK 83.0m | −SEK 138.0m | −SEK 139.0m | −SEK 198.0m | −SEK 138.0m |
| Free cash flow | SEK 16.0m | −SEK 105.0m | −SEK 164.0m | −SEK 28.0m | SEK 98.0m | −SEK 111.0m | SEK 134.0m | −SEK 158.0m |
| Total assets | SEK 7.70bn | SEK 7.50bn | SEK 9.04bn | SEK 9.88bn | SEK 12.09bn | SEK 11.98bn | SEK 12.30bn | SEK 13.17bn |
| Cash and short-term investments | — | SEK 31.0m | SEK 39.0m | — | SEK 50.0m | SEK 86.0m | SEK 270.0m | SEK 129.0m |
| Debt | SEK 1.98bn | SEK 1.87bn | SEK 4.62bn | SEK 4.94bn | SEK 4.95bn | SEK 4.85bn | SEK 4.97bn | SEK 4.95bn |
| Shareholders' equity | SEK 2.18bn | SEK 2.14bn | SEK 947.0m | SEK 2.07bn | SEK 3.99bn | SEK 4.17bn | SEK 4.32bn | SEK 5.11bn |
Financial ratios
Data as of 27 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 33.8% | 36.5% | 34.7% | 35.9% | 38.5% | 34.9% |
| Operating margin | -3.6% | -7.6% | -0.5% | 1.0% | 7.3% | 3.4% |
| Net margin | -52.8% | -12.7% | -2.6% | -0.0% | 5.1% | 2.0% |
| Return on equity | -313.6% | -31.1% | -8.0% | -0.0% | 14.3% | 6.3% |
| Return on assets | -32.9% | -10.9% | -2.5% | -0.0% | 6.6% | 2.5% |
| Free cash flow yield | 73.6% | 123.7% | 1085.6% | 1174.0% | 1096.2% | 1067.1% |
| Revenue growth | -46.7% | -21.2% | -10.4% | 8.8% | 7.7% | -8.5% |
| Earnings growth | 121.1% | 287.0% | 17250.0% | -100.3% | 179.1% | -68.8% |
| Current ratio | 0.86x | 0.92x | 1.15x | 0.97x | 0.96x | 0.98x |
| Debt to equity | 3.31x | 0.66x | 0.96x | 0.53x | 0.13x | 0.14x |
| Equity ratio | 10.5% | 35.2% | 31.8% | 36.9% | 46.3% | 40.0% |
| Interest coverage | -0.70x | -2.50x | -0.24x | 1.27x | 10.07x | 4.69x |
| Buybacks as a share of market value | 0.0% | -300.1% | 0.0% | 0.1% | 0.4% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -27.8% | -15.1% | -8.3% |
| Net income | 1040.9% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 35.5% | 35.4% | 35.9% | 37.4% |
| Operating margin | -6.4% | -2.2% | 0.6% | 4.6% |
| Net margin | -26.7% | -10.5% | -5.2% | 0.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.7 | -1.4 | -1.7 | -570.0 | 4.1 | 14.0 | 4.6 | 3.5 | 3.7 | 10.0 |
| Price to sales | 0.4 | 0.2 | 0.0 | 0.1 | 0.2 | 0.3 | 0.3 | 0.2 | 0.3 | 0.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 6 May 2022.
| FY2022 | FY2021 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 2.50 | 2.00 | 4.00 | 3.50 | 3.00 | 2.50 | 1.75 | 1.00 |
- 3-for-1 split · 25 Apr 2007
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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