Norway's Spir Group Q4 revenue growth hit by challenging housing market; margins rise

Spir ASA

18/02/2026 06:09

Overview

Nordic digital solutions provider's Q4 revenue grew 1.1% yr/yr

Company's Swedish segment hampered by Open Data directive, affecting revenue growth

Bidco Clover AS acquired 90.29% of Spir Group shares, plans to delist from Oslo Exchange

Outlook

Company anticipates greater strategic flexibility as a private entity

Spir Group aims to enhance delivery of services in Norway and Sweden

Result Drivers

AMBITA SEGMENT - Spir Group's Ambita segment continued to deliver solid growth in Q4

SWEDISH SEGMENT CHALLENGES - Revenue growth was hampered by a challenging housing market and the Open Data directive affecting the Swedish Metria segment

CASH EBITDA IMPROVEMENT - Adjusted Cash EBITDA margin improved to 7.1% from 1.9%, indicating a solid profitability trend

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Miss
NOK 204.10 mln
NOK 208 mln (1 Analyst)

Analyst Coverage

The one available analyst rating on the shares is "buy"

The average consensus recommendation for the software peer group is "buy"

Wall Street's median 12-month price target for Spir Group ASA is NOK12.00, about 41.5% above its February 17 closing price of NOK8.48

The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 13 three months ago

Press Release: ID:nObil62hWa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)