Enea (Q3 Initial take): Continued organic growth but below expectations - Redeye

Redeye notes that Enea’s Q3 2025 report was lacklustre, with reported sales 9% below Redeye’s forecast. Organic growth was 3%, resulting in a 4% miss. This performance was disappointing as Redeye had anticipated a strong quarter, following late-quarter deals worth SEK49m, of which SEK24m was recognised in Q3. Although the adjusted EBITDA margin was solid at 33%, it fell short of Redeye's 35% forecast. The combination of lower sales and weaker margins resulted in an adjusted EBITDA 14% below Redeye’s estimate. Redeye anticipates a negative share price reaction.

Länk till analysen i sin helhet: https://www.redeye.se/research/1131705/enea-q3-initial-take-continued-organic-growth-but-below-expectations?utm_source=finwire&utm_medium=RSS