Nynas AB (publ) publishes Annual & Sustainability Report for 2025
Improved profitability and strengthened balance sheet
Nynas delivered improved profitability and strengthened financial resilience in 2025, supported by disciplined execution, high operational reliability and solid demand across its core businesses. Adjusted EBITDA increased to 1,401 MSEK, compared with 1,333 MSEK in 2024, while operating cash flow amounted to 995 MSEK, providing a strong foundation for continued balance sheet improvement in a challenging macroeconomic environment.
“2025 was an important year for Nynas. We improved profitability, generated strong cash flow and significantly strengthened our balance sheet, while continuing to execute on our long‑term strategy. Through disciplined operations and targeted investments, we have reinforced the company’s resilience and established a stronger platform for sustainable value creation,” says Eric Gosse, President and CEO of Nynas.
Financial highlights – full year 2025 (2024 comparative figures in brackets)
- Net sales: 14,538 MSEK (15,994 MSEK)
- Adjusted EBITDA: 1,401 MSEK (1,333 MSEK)
- Operating cash flow: 995 MSEK (1,021 MSEK)
- CapEx: 343 MSEK (376 MSEK)
Sales volumes increased in both business segments during the year. Volumes of Naphthenic Specialty Products grew by 3% year on year, driven primarily by strong demand for transformer oils and continued growth in selected international markets. Bitumen volumes also increased, supported by sustained activity in Nordic infrastructure markets and an improved sales mix, with a higher share of polymer‑modified products.
Net debt was reduced to 3,797 MSEK, compared with 4,835 MSEK at the end of 2024. The improvement was supported by strong operating cash flow and the successful issuance of a 380 MUSD senior secured bond. The refinancing simplified the capital structure, extended debt maturities and reduced the net debt to adjusted EBITDA ratio to 2.8x, compared with 3.5x in 2024.
Strategic investment and outlook
During the year, the Board approved a 213 MSEK investment to increase vacuum distillation capacity at the Nynäshamn production site. The investment is expected to improve product yields, enhance feedstock flexibility and support future growth in higher‑value naphthenic specialty products, allowing for both growth and increased resilience.
With improved leverage, stable cash generation and a stronger financial platform, Nynas enters 2026 well positioned to continue strengthening its core business while advancing its long‑term strategic priorities.
Download the full report at nynas.com
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For further information, please contact Investor Relations:
Tatjana Ramljak Adzaip
+46 76 778 74 32
tatjana.ramljak.adzaip@nynas.com
Advancing the transition to a sustainable society
Nynas is a specialty chemicals company producing high-performance bitumen and naphthenic solutions essential to infrastructure, electrification, and other industrial applications. Mainly focused on Europe, our products play a key role in supporting the shift towards a sustainable future. Through strategic partnerships and a strong commitment to safety and efficiency, Nynas is making a positive impact on society and the environment.
