BYGGMA ASA - INTERIM REPORT Q4 2025

27 Feb 2026 08:34 CET

Byggma Group:
The Group’s sales revenues in Q4 2025 amounted to NOK ​582.8​ million which is a
NOK ​8.5​ million (​1.5 %​) increase from Q4 2024. Sales revenue for YTD ​Q4​
​2025​ amounted to NOK ​2,349.0​ million which is NOK ​181.6​ million (​8.4 %​)
higher than for the same period in ​2024​.



The EBITDA in Q4 was ​ 33.6 ​million in 2025, compared to ​ 49.3 ​million in
2024. The Group achieved an EBITDA YTD ​Q4​ ​2025​ of NOK ​ 209.1 ​million
compared to NOK ​ 212.9 ​million in the same period last year.



The adjusted operating profit in ​Q4​ ​2025​ was NOK ​ 12.9 ​ million compared
to NOK ​ 26.2 ​million in the same period last year. For YTD 2025, the adjusted
operating profit was NOK ​ 122.4 ​million, compared to NOK​ 125.1 ​ million
last year. The operating profit contains non-recurring items, please see
reconciliation of adjusted operating profit in Alternative Performance Measures
after the notes to the interim report.



The investment in Norske Skog ASA is classified as an investment in associate
and is accounted for using the equity method in accordance with IAS 28. See note
12 for more information. Share of profit from associates was NOK ​83.3​ million
YTD ​Q4​ ​2025​. See Norske Skog ASA's latest quarterly report and annual
accounts for more information.



The Group achieved an adjusted profit before tax in ​Q4​ ​2025​ of NOK ​ (10.4)​
million, compared to NOK ​ 3.3 ​ million last year. Adjusted profit before tax
YTD ​Q4​ was NOK ​ 26.1 ​ million compared to NOK ​ 31.7 ​ million in the same
period in ​2024​.



YTD ​Q4​ ​2025​, net financials amounted to an expense of NOK ​96.3​ million
which is a NOK ​2.9​ million increase in cost compared to the same period in
​2024​. The main driver behind the change in net financial expenses is, among
other factors, changes in the fair value of derivatives. Please see note 3 for
specification of net financials.



The liquidity reserve as of 31 December ​2025​ amounted to NOK 83.5 million, a
reduction of NOK 38.5 million from 1 January ​2025​. The Board of Directors will
maintain its focus on capital and cost-efficiency.



Net interest-bearing debt is decreased from NOK ​1,365.8​ million as of 1
January ​2025​ to NOK ​1,253.8​ million as of 31 December ​2025​. As of the
fourth quarter of 2025, there were acquired loans of NOK 37.9 million. 

Investments in tangible fixed assets and intangible assets YTD ​Q4​ ​2025​
totaled NOK ​108.5​ million which is NOK 68.0 million higher than in ​2024​.



Total assets decreased from NOK ​2,911.8​ million as at 1 January ​2025​ to NOK
​2,916.6​ million as at 31 December ​2025​. Booked equity as of 31 December
​2025​ was NOK ​1,023.5​ million (​35.1 %​), which is an increase of NOK 111.0
million compared to 1 January ​2025​ (​31.3 %​). The reasons for the change in
equity are due to the profit of the year of NOK ​108.3​ million, a currency
translation difference of NOK -3.5 million and share of other comprehensive
income from associate of NOK ​6.2​ million.

More information:
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667096_Byggma ASA - Q4 2025 presentation.pdf
667096_BYGGMA ASA - INTERIM REPORT Q3 2025.pdf