TROAXNasdaq StockholmBasic MaterialsIFRS · SEK

Troax Group

Troax Group is a global leader in developing and supplying indoor perimeter protection solutions for manufacturing and warehousing environments. The company is headquartered in Hillerstorp, Sweden, and operates in 42 countries, employing approximately 1,200 people. Troax specializes in high-quality safety solutions that protect people, property, and processes, with a strong focus on innovation and customer service. The company has recently expanded its capabilities by acquiring ST&L, enhancing its expertise in safety consulting and risk assessment.

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Revenue262m SEK
−5.8 %y/y
Operating profit (EBIT)1.3m SEK
−97.1 %y/y
EBIT margin0.5%
−15.7 ppy/y
Net income31.3m SEK
+0.0 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

0100200300m SEK2021: 252 m SEK2021: EBIT 52 m SEK20212022: 284 m SEK2022: EBIT 50 m SEK20222023: 264 m SEK2023: EBIT 50 m SEK20232024: 279 m SEK2024: EBIT 45 m SEK20242025: 262 m SEK2025: EBIT 1.3 m SEK20252621.3
RevenueOperating profit (EBIT)
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Business

Share of revenue
Indoor Perimeter Protection40 %

Includes barriers and fencing for manufacturing and warehousing environments.

Automated Warehouse Safety25 %

Safety systems for automated warehouses.

Active Safety Solutions20 %

Innovative solutions to enhance safety in industrial settings.

Safety Consulting15 %

Consulting services for risk assessment and safety planning.

Customers

Troax Group serves a diverse range of customer segments primarily in the manufacturing and warehousing sectors. Key customers include companies in the automotive, warehousing, and construction industries, who require reliable and innovative safety solutions to protect their operations. The company's products are designed to meet the specific needs of each segment, ensuring safety and compliance with industry standards. Troax's strong local presence in 42 countries enables it to provide excellent customer service and quick deliveries, which are critical for maintaining customer satisfaction and loyalty.

Automotive

Safety solutions for production lines to ensure worker safety and compliance.

Warehousing

Perimeter protection for storage facilities to prevent unauthorized access.

Construction

Safety barriers for site security and worker protection.

Industrial

Customized safety solutions for various industrial applications.

Strategy

Troax Group's strategic priorities include strengthening its position as a safety partner through acquisitions and expanding its capabilities in key markets. The acquisition of ST&L enhances Troax's expertise in safety consulting and risk assessment, adding value to its offerings. The company is also focused on increasing its capacity and efficiency in North America, with plans to ramp up operations by 2026. Troax aims to continue its organic growth by capitalizing on opportunities in automated warehouse and active safety segments. These strategic initiatives are designed to enhance competitive positioning and drive long-term growth.

Expand North American operationsMedium term

To increase capacity and efficiency in a key growth market.

Enhance safety consulting capabilitiesShort term

To provide additional value to customers as a safety partner.

Drive organic growthMedium term

To capitalize on opportunities in automated warehouse and active safety segments.

Geography

Troax Group has a significant global presence, with operations in 42 countries and a strong focus on Europe, North America, and APAC regions. The company's head office is located in Hillerstorp, Sweden. While North America and APAC have shown stronger activity, Europe has experienced slower demand, particularly in the Nordics and Continental Europe. Troax's investment in North America aims to increase capacity and efficiency, positioning the company for future growth in this key market. The company's geographic diversity helps mitigate regional risks and capitalize on global opportunities.

Risks

Troax Group faces several business and financial risks, including market demand fluctuations and regional economic conditions. The company's performance is sensitive to changes in the manufacturing and warehousing sectors, particularly in Europe where demand has been slower. Currency fluctuations and geopolitical tensions can impact financial results, especially given Troax's global operations. Additionally, the integration of acquisitions like ST&L poses execution risks. Industry-specific risks include compliance with safety regulations and maintaining technological leadership in safety solutions.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Market demand fluctuations1Currency fluctuations2Integration of acquisitions3
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Market demand fluctuationsImpact: HighLikelihood: High

    Impact sales performance, especially in Europe.

  2. Currency fluctuationsImpact: MediumLikelihood: Medium

    Affect financial results due to global operations.

  3. Integration of acquisitionsImpact: MediumLikelihood: Low

    Poses execution risks and potential cost overruns.

  4. Geopolitical tensionsImpact: Medium

    Impact operations and supply chain.

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Accounting

Judgemental items
Revenue recognition

Critical for accurate reporting of sales and margins.

Impact: high

Currency translation

Affects financial results due to global operations.

Impact: medium

Goodwill accounting

Important for acquisitions like ST&L.

Impact: medium

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Last updated: 24/09/2026

Troax Group (XSTO) – Basic Materials | Financial Analysis – Clarifo