July–September 2025
Total sales MSEK 38 521 (40 229)
Organic sales growth 3 percent (5)
Adjusted organic sales growth, 4 percent*
Real sales growth within technology and solutions 4 percent (6)
Operating income before amortization MSEK 3 107 (3 006)
Operating margin 8.1 percent (7.5)
Adjusted operating margin, 8.3 percent (7.6)*
Items affecting comparability (IAC) MSEK, 1 527 (–697), whereof MSEK, 1 462 (0) related to the close-down of the government business within SCIS
Earnings per share, SEK 1.09 (2.03)
Earnings per share before IAC, SEK 3.34 (3.05)
Cash flow from operating activities 106 percent (115)
January–September 2025
Total sales MSEK 116 691 (120 127)
Organic sales growth 4 percent (5)
Adjusted organic sales growth, 4 percent*
Real sales growth within technology and solutions 5 percent (7)
Operating income before amortization MSEK 8 430 (8 164)
Operating margin 7.2 percent (6.8)
Adjusted operating margin, 7.5 percent (7.0)*
Items affecting comparability (IAC) MSEK, 1 770 (–1 157), whereof MSEK, 1 462 (0) related to the close-down of the government business within SCIS
Earnings per share SEK 5.95 (6.15)
Earnings per share before IAC, SEK 8.48 (7.76)
Net debt/EBITDA ratio 2.2 (2.7)
Cash flow from operating activities 74 percent (58)
*A new key ratio, operating margin adjusted for the government business within SCIS in the process of being closed down, was added as of the second quarter 2025. A new key ratio, organic sales growth adjusted for the same business, has been added as of the third quarter 2025. Refer to note 5 for further information.
Comments from the President and CEO
"Strong delivery with an operating margin exceeding 8% in the third quarter"
We achieved an important milestone in the third quarter, delivering an operating margin exceeding 8 percent. This is the result of strong strategic execution and performance across all our business segments. We are on the right track to achieve our financial target of an operating margin of 8 percent in the second half of 2025.
Organic sales growth was in line with our expectations, driven by strong performance in security services in North America. In security services Europe, ...
