January - March 2025
- Net sales amounted to SEK 1,223 (1,383) million.
- Growth was -12 percent, of which organic growth amounted to -18 percent.
- EBITA decreased by 56 percent to SEK 40 (90) million, including a capital gain of SEK 19 million from divestment of a property.
- The EBITA margin amounted to SEK 3.2 (6.5) percent.
- Cash flow from operating activities amounted to SEK 139 (208) million.
- Earnings per share, basic and diluted, were SEK -0.33 (0.40).
CEO comments
Promising outlook despite geopolitical turbulence
In recent months, geopolitical turbulence has had far-reaching effects on businesses, societies, and nations - manifesting in trade barriers, deteriorating security conditions, and shifting priorities. In evaluating the impact on our company, we conclude that demand for our services will remain strong going forward. We mainly serve customers whose operations are concentrated within a specific city or its surrounding area. Our subsidiaries maintain strong local ties, delivering services where quality depends on execution rather than costly equipment that could be affected by tariffs. However, ripple effects on the broader economy could indirectly impact our business, and we are closely monitoring developments to remain ready to adapt. Nevertheless, we conclude that our market remains favorable for continued sustainable growth with a high degree of predictability. The contrast with other industries is likely more pronounced now than it was just a short time ago.
Less weather-dependent over time
During the last 12-month period, our net sales grew by 4 percent and amounted to SEK 6,192 million. EBITA decreased by 8 percent to SEK 477 million, which corresponds to a margin of 7.7 percent. The mild winter with little snowfall had a negative impact on the financial outcome in the first quarter. Net sales decreased by 12 percent in the first quarter and amounted to SEK 1,223 (1,383) million. Organic growth amounted to -18 percent. It was negatively impacted by weather conditions in Sweden and Norway, while Other Europe reported positive organic growth. Acquisitions contributed with 7 percent and the impact from changed exchange rates was -1 percent.
EBITA amounted to SEK 40 (90) million, corresponding to an EBITA margin of 3.2 (6.5) percent. Operating profit included a capital gain of SEK 19 million from divestment of a property in Lithuania. In the first quarter of 2025, snowfall measured both in frequency and volume reached amongst its lowest levels in 15 years across the areas of Sweden and Norway where our primary snow and ice removal activities take place. The weather conditions were similar to those in the winter of 2020 when the Group reported an EBITA margin of -5.0 percent in the first quarter, compared with 3.2 percent this year. The improvement in profitability stems from the measures taken in Segment Sweden and the Group's dependence on the weather has been reduced compared to what we looked like five years ago. The weather dependency in Norway is evident, but the weak outcome of the quarter should be viewed in light of the segment's strong financial performance over the past two years.
Cash flow from operating activities amounted to SEK 139 (208) million and indebtedness in relation to EBITDA pro-forma RTM amounted to 2.6 (2.4) times at the end of the quarter.
We are part of the solution to climate change
This winter has been unusually mild. However, we anticipate that mild winters will become more frequent in the future. Over time, snow and ice removal services will decrease in scope, while the season for ground maintenance and landscaping will be longer. Several of our companies located in southern Sweden have already implemented this adaptation. We see that climate change is driving our customers to adapt the urban environments and that our subsidiaries are being approached to carry out the work. In a very real sense, it makes us part of the solution.
Well prepared for continued expansion
We have successfully established a platform in the
Germany-Austria-Switzerland region, earning a strong reputation that positions us well for continued growth in this key part of Europe. We remain committed to our ambition of having another 8-10 companies join forces with us during the year.
Seasonally, the first quarter is our weakest of the year and with that now behind us, all of us in the Green Landscaping Group are looking forward to the summer season.
Presentation of the report:
Green Landscaping Group CEO Johan Nordström and CFO Marcus Holmström will present the report in a teleconference/audiocast on 24 April 2025 at 13:00 CEST. The presentation will be held in English.
If you would like to participate in the webcast, please visit the link below.
https://green-landscaping-group.events.inderes.com/q1-report-2025
If you would like to participate in the teleconference, you will need to register via the link below. Once you have registered, you will receive the phone number and a conference ID for logging in. There are opportunities for asking questions via the teleconference.
https://conference.inderes.com/teleconference/?id=5009913
Contacts
Magnus Larsson, Head of Investor Relations, Green Landscaping Group AB
+46 (0)70 2705283, magnus.larsson@greenlandscaping.com
About Us
Green Landscaping Group AB (publ) is a home for entrepreneurs working with ground maintenance, green space management and landscaping. It is a multinational Group with the spirit of small company entrepreneurship that has been created by acquiring successful companies with these qualities: skilled in their trade and professionally run, strong local ties, sound values and a track record of sustainable profitability. The Group has approximately 3,000 employees and net sales amounted to SEK 6.4 billion for 2024. The shares are listed on Nasdaq Stockholm with the ticker GREEN. For more information visit www.greenlandscaping.com
This information is information that Green Landscaping Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-04-24 12:00 CEST.
