VBG-BNasdaq StockholmConsumer DiscretionaryIFRS · SEK

VBG GROUP

VBG Group is a global industrial conglomerate that actively manages a portfolio of successful companies across three main divisions: Truck & Trailer Equipment, Mobile Thermal Solutions, and Ringfeder Power Transmission. The company is known for its high industrial expertise, strong financial stability, and a broad portfolio of brands in specialized niches. With operations in 15 countries and a workforce of nearly 2,000 employees, VBG Group maintains a strong international presence, particularly in North America and Europe.

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Revenue5,394m SEK
−3.3 %y/y
Operating profit (EBIT)651m SEK
−18.3 %y/y
EBIT margin12.1%
−2.2 ppy/y
Net income422m SEK
−28.2 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

02,0004,0006,000m SEK2021: 3,611 m SEK2021: EBIT 456 m SEK20212022: 4,580 m SEK2022: EBIT 527 m SEK20222023: 5,740 m SEK2023: EBIT 825 m SEK20232024: 5,579 m SEK2024: EBIT 796 m SEK20242025: 5,394 m SEK2025: EBIT 651 m SEK2025TTM 2026: EBIT 615 m SEKTTM615
RevenueOperating profit (EBIT)TTM = last 12 months, not a full fiscal year

Business

Share of revenue
Truck & Trailer Equipment25 %

Includes products and solutions for trucks and trailers.

Mobile Thermal Solutions35 %

Comprises thermal management systems for mobile applications.

Ringfeder Power Transmission20 %

Offers power transmission components and solutions.

Industrial Services20 %

Provides industrial service solutions and support.

Customers

VBG Group serves a diverse range of customers across the industrial sector, including manufacturers of trucks and trailers, companies requiring mobile thermal management solutions, and businesses in need of power transmission components. The company's products are essential for clients seeking reliable and high-performance industrial solutions. VBG Group's customer base is primarily B2B, with a focus on long-term partnerships and high service levels. The company's strong brand portfolio attracts customers looking for specialized and niche products.

Truck & Trailer Manufacturers

Purchase equipment for trucks and trailers for reliability and performance.

Thermal Management Clients

Require mobile thermal solutions for various applications.

Industrial Power Transmission

Need components for power transmission in industrial settings.

Strategy

VBG Group's strategic priorities focus on maintaining financial stability and expanding its industrial expertise. The company aims to enhance its product portfolio through innovation and acquisitions, as seen with the recent acquisition of Italytec Imex Indústria e Comércio Ltda. Geographic and product diversification are key to navigating market challenges and sustaining profitability. The group also emphasizes operational efficiency and cost control to maintain stable margins.

Financial StabilityLong term

To ensure long-term sustainability and growth.

Product Portfolio ExpansionMedium term

To capture new market opportunities and drive growth.

Operational EfficiencyShort term

To maintain profitability in challenging markets.

Geography

VBG Group operates in 15 countries, with a significant presence in North America and Europe, which together account for 88% of its sales. North America is the largest market, contributing 54% of total sales, followed by Europe at 34%. The company's global reach allows it to leverage diverse market opportunities and mitigate regional risks. Manufacturing and operational facilities are strategically located to serve key markets efficiently.

Risks

VBG Group faces several risks, including geopolitical tensions and macroeconomic headwinds, particularly in Europe and North America. Currency fluctuations and interest rate volatility pose financial risks. The company's reliance on key markets exposes it to regional economic downturns. Additionally, new tariffs in North America could impact supply chains and cost structures. Strategic risks include maintaining competitive advantage through innovation and acquisitions.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Geopolitical Tensions1Currency Fluctuations2Tariff Changes3
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. Geopolitical TensionsImpact: HighLikelihood: High

    Increased instability in key markets.

  2. Currency FluctuationsImpact: MediumLikelihood: High

    Affects financial performance due to global operations.

  3. Tariff ChangesImpact: MediumLikelihood: Medium

    New tariffs could disrupt supply chains.

Accounting

Judgemental items
Revenue Recognition

Timing impacts quarterly financial results.

Acquisition Accounting

Affects asset valuations and goodwill.

Currency Hedging

Manages financial risk from global operations.

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Last updated: 24/09/2026