Bravida Holding AB
STO:BRAV
Bravida Holding AB
Bravida Holding AB stands as a prominent figure in the realm of integrated installation and service solutions, with a predominant focus on electrical, heating, plumbing, and HVAC systems. Originating in Sweden, the company has expanded its footprint across the Nordic region. With a history rooted in craftsmanship and technical expertise, Bravida has skillfully navigated the complexities of modern infrastructure by embracing both traditional and cutting-edge technologies. This blend has allowed it to cater to a wide array of clients, ranging from small businesses to large public and private enterprises. By marrying technology with its personnel's technical proficiency, Bravida ensures efficient and sustainable solutions, a critical component in today’s environmentally conscious market.
The company’s revenue model hinges on two principal segments: the installation of new systems and the ongoing maintenance and servicing of existing infrastructures. By effectively balancing these two legs, Bravida creates a continuous revenue stream—project-based income from installations alongside recurrent revenue from service contracts. Such a structure not only drives financial stability but also ensures long-term relationships with clients, as the company often remains the trusted partner for the upkeep and optimization of installed systems. Moreover, Bravida’s emphasis on sustainable practices resonates well within its markets, aligning with global shifts towards greener, more energy-efficient solutions. This strategic alignment positions Bravida not just as a service provider, but as a pivotal player in the creation and maintenance of tomorrow's infrastructure.
Bravida Holding AB stands as a prominent figure in the realm of integrated installation and service solutions, with a predominant focus on electrical, heating, plumbing, and HVAC systems. Originating in Sweden, the company has expanded its footprint across the Nordic region. With a history rooted in craftsmanship and technical expertise, Bravida has skillfully navigated the complexities of modern infrastructure by embracing both traditional and cutting-edge technologies. This blend has allowed it to cater to a wide array of clients, ranging from small businesses to large public and private enterprises. By marrying technology with its personnel's technical proficiency, Bravida ensures efficient and sustainable solutions, a critical component in today’s environmentally conscious market.
The company’s revenue model hinges on two principal segments: the installation of new systems and the ongoing maintenance and servicing of existing infrastructures. By effectively balancing these two legs, Bravida creates a continuous revenue stream—project-based income from installations alongside recurrent revenue from service contracts. Such a structure not only drives financial stability but also ensures long-term relationships with clients, as the company often remains the trusted partner for the upkeep and optimization of installed systems. Moreover, Bravida’s emphasis on sustainable practices resonates well within its markets, aligning with global shifts towards greener, more energy-efficient solutions. This strategic alignment positions Bravida not just as a service provider, but as a pivotal player in the creation and maintenance of tomorrow's infrastructure.
Margin Improvement: EBITA margin increased to 8.1% in Q4, up 60 basis points, driven mainly by strong performance in Denmark and Norway.
Earnings Growth: EPS rose 17% in the quarter and 16% for the full year, reflecting improved profitability despite a challenging market.
Sales Stabilization: Net sales were down 2% in Q4, with organic growth at -3%, but acquisitions and currency contributed positively.
Strong Cash Flow: Cash flow was nearly SEK 1.2 billion in Q4 (up from SEK 756 million), raising cash conversion to 79% for the year.
Dividend Increase: The Board proposed a dividend of SEK 3.80 per share, up from the previous year and equal to 63% of EPS.
Order Book Growth: Order intake increased by 11% year-over-year in Q4, with backlog up 3% and organic backlog growth at 5%.
Solid Balance Sheet: Net debt/EBITDA is now 1.1x, providing flexibility for M&A and other capital allocation.
Improved Outlook: Management expects continued margin improvement, especially in Denmark, and aims to accelerate M&A in 2026.
