BUSINESS AREA
Medtech
In the Medtech business area, the subsidiaries offer products and services in the field of medical technology, as well as assistive equipment and digital solutions for home care. Medtech has two business units, Hospital and Homecare. The Medtech offering mainly focuses on publicly funded healthcare, home care and social care in Europe.
| Q4 | Q4 | ∆ | Full year | Full year | ∆ | |
| SEKm | 2025 | 2024 | % | 2025 | 2024 | % |
| Net sales | 1,663 | 1,679 | -1 | 6,495 | 6,496 | -0 |
| Organic growth, % | 3 | 11 | 2 | 7 | ||
| EBITA | 357 | 195 | 83 | 964 | 746 | 29 |
| EBITA margin, % | 21.5 | 11.6 | 14.8 | 11.5 |
FOURTH QUARTER
Net sales within Medtech decreased by 1 percent to SEK 1,663m (1,679) during the quarter. Growth, excluding currency effects, amounted to 4 percent, of which organic growth was 3 percent and acquired growth was 1 percent. Exchange rate changes had a negative impact on net sales by 5 percent.
Adjusted EBITA increased by 2 percent to SEK 199m (195), corresponding to an adjusted EBITA margin of 12.0 percent (11.6). EBITA amounted to SEK 357m (195) and was positively affected by the divestment of operations of SEK 158m. Exchange rate changes had a negative impact on EBITA of 10 percent, corresponding to SEK 19m.
FULL YEAR
Medtech’s net sales for the financial year amounted to SEK 6,495m (6,496). Organic growth was 2 percent and acquired growth was 1 percent. Exchange rate changes had a negative impact on net sales of 3 percent.
Adjusted EBITA increased by 7 percent to SEK 805m (752), corresponding to an EBITA margin of 12.4 percent (11.6). EBITA amounted to SEK 964m (746), corresponding to an EBITA margin of 14.8 percent (11.5). EBITA for the financial year was positively affected by the divestment of operations of SEK 158m, and EBITA for the previous year by a remeasured contingent consideration and restructuring costs related to Camanio totaling SEK 6m. Exchange rate changes had a negative impact on EBITA of 5 percent, corresponding to SEK 36m.
Sales grew organic by 3 percent in the fourth quarter. Capital investments remained lower compared with the previous year and the number of operations performed was flat or declining. Patient waiting lists were unchanged or increased in most countries.
Sales performance in the United Kingdom was weak during the year, but improved in the fourth quarter, mainly driven by increased capital investments in the healthcare sector.
A supplier to the UK operations has made a strategic decision to begin direct sales to the customer base that has been built up within endoscopy. On December 1, a transaction was completed whereby the supplier acquired this business and took over staff and resources. The effect of the transaction amounted to SEK 158m, which has been recognised as other operating income. Sales of these products amounted to approximately SEK 140m during the financial year. This sales volume will gradually be replaced by new products as part of the continuous business development process, which has also been strengthened during the year.
In Homecare, demand has increased again after a period of lower activity, including in new construction of adapted housing. The initiatives in welfare technology that have been pursued over a long period are now delivering clear results in the form of strong growth and higher margins. The prospects for further margin improvements are good, and changes are being implemented to continue driving this positive development.
On a full-year basis, sales in Medtech grew by 2 percent, which is lower than market growth. This is mainly explained by weaker performance in the United Kingdom during the year and the discontinuation of less profitable products, followed by the launch of new, more profitable products. The adjusted EBITA margin strengthened to 12.4 percent compared with 11.6 percent in the previous year.