Nasdaq StockholmIFRS · SEK

Arctic Falls Aktiebolag

Arctic Falls AB is a Swedish company that operates specialized test facilities for the automotive and tire industries. Its business is built around indoor and outdoor winter-testing environments near the Arctic Circle in northern Sweden, where customers can test vehicles, tires, and related products under controlled cold-weather conditions.

Revenue159m SEK
+4.0 %y/y
Net income11.6m SEK
−70.9 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

050100150200m SEK2021: 98 m SEK20212022: 113 m SEK20222023: 121 m SEK20232024: 153 m SEK20242025: 159 m SEK2025159
RevenueOperating profit (EBIT)

Business

Share of revenue
Access revenue70 %

Customer access to test tracks, facilities, garages, offices, and related infrastructure.

Service revenue30 %

Operational support services such as tire changes, track preparation, and test drivers.

Customers

Arctic Falls serves automotive and tire companies that need winter testing environments for product development and validation. Its customer base includes long-term contracted users with exclusive site access and on-demand customers that book facilities for shorter testing windows. The business is designed around customers that value confidentiality, repeat access, and bundled support services.

Contracted customers

Companies that lease facilities for 5-10 years and buy exclusive access plus extra capacity when needed.

On-demand customers

Customers that rent tracks and facilities for days or weeks and buy bundled all-inclusive testing support.

Automotive manufacturers

Vehicle developers that use the sites to test drivability, safety, and cold-weather performance.

Tire manufacturers

Tire companies that need winter surfaces and controlled conditions to validate product performance.

Strategy

Arctic Falls’ strategy is centered on maintaining a differentiated winter-testing platform with both indoor and outdoor environments. The company also emphasizes long-term contracted relationships, which provide recurring access usage, while preserving flexibility for shorter on-demand bookings that improve facility utilization.

Expand and optimize test-facility utilizationMedium term

Higher utilization improves the economics of fixed testing infrastructure and supports growth.

Strengthen service offering around core access revenueShort term

Bundled services increase customer stickiness and raise the value of each testing engagement.

Preserve and develop local operating sitesLong term

The business depends on access to land suited for winter testing near the Arctic Circle.

Geography

Arctic Falls is headquartered in Älvsbyn, Norrbotten, and all of its test facilities are located in northern Sweden near the Arctic Circle. The company’s geography is central to the business model because the local climate supports winter testing, while the indoor sites reduce dependence on natural snowfall and extend the testing season. Its operations are therefore concentrated in one region, with exposure to local land-use and regulatory conditions.

Risks

The main business risk is weather variability during the winter-testing season, because rapid temperature changes can affect track quality and customer scheduling. The company also faces local regulatory and land-use risk, since areas used for testing may be reallocated to other interests such as defense, mining, or indigenous land use. As a facility-based business with concentrated assets, Arctic Falls is also exposed to utilization risk if customer demand weakens or if site access becomes constrained.

Sorted by severity
Land-use and regulatory competitionHigh

Testing areas may be prioritized for defense, mining, Sami interests, or other industry uses.

Exposure: Northern Sweden facility footprint

Weather dependence in winter testingHigh

Rapid weather changes can reduce track quality and interrupt customer testing windows.

Exposure: November to March testing season

Customer concentration and utilization riskMedium

Revenue depends on keeping specialized facilities occupied across contracted and on-demand demand.

Exposure: Facility-based revenue model

Accounting

Judgemental items
Revenue recognition for access and service revenue

The company combines facility access with ancillary services, so timing and allocation matter for reported revenue.

Impact: Can affect quarterly revenue mix and comparability

Seasonality and cut-off around winter testing

Most testing activity occurs in the winter season, which can shift revenue and costs between quarters.

Impact: Creates uneven quarterly results

Property, plant and equipment depreciation

The business relies on specialized test tracks and facilities that require ongoing capital investment.

Impact: Affects operating result and asset carrying values

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026