2025-12-16

Strong Performance in a Challenging Global Market

CEO Mikael Andersson reflects on an eventful year

As the year draws to a close and the holiday season approaches, it is time to reflect on another eventful year. A year marked by continued global turbulence, while HydX’s operations have remained stable and resilient. Geopolitical instability, war in our immediate surroundings, and the threat of U.S. trade tariffs have all impacted the global market. For me as CEO, this is a reminder that uncertainty does not only affect business operations—it affects people.

We see this in customers hesitating before making significant investments, suppliers carefully evaluating where production entails the least risk, and policymakers who, despite stimulus packages, struggle to generate economic momentum. Behind every decision are individuals influenced by their environment. These dynamics affect our customers and partners as much as they affect us at HydX. In this reality, our long-term success is built on two core principles.

Focusing on What We Can Control

At HydX, we maintain a clear focus on what we can influence and even in uncertain times, there is a great deal within our control. Throughout the year, we have continued to invest in the development of market-leading technology solutions. Within our sales organization, we have increased the number of high-quality customer interactions, resulting in new business and strengthened customer relationships. In our production operations, we have maintained a strong focus on efficiency and continuous improvement. These are areas where we can directly influence outcomes—and where we have made significant progress this year.

A Diversified Portfolio That Builds Resilience

During periods of economic downturn, our diversified portfolio is a key strength. By delivering advanced technology solutions to a broad range of industries, we create stability in an otherwise volatile global market. 2025 has been a challenging year for many manufacturers of mobile machinery. At the same time, we have seen increased demand from our industrial customers, completing several large-scale projects and welcoming new, strategically important customers. Even stronger growth has been seen within the defence industry. Here, HydX holds a strong position as a supplier of robust, highly reliable solutions—developed and assembled in Sweden.

Stable Performance and focus on growth

HydX’s financial performance for the year is in line with our expectations, demonstrating resilience during a prolonged economic downturn. However, results are not reflected solely in financial figures. Over the course of the year, we have continued to strengthen our organization in several important ways. HydX remains attractive to some of the industry’s most highly qualified professionals. Our ongoing investments in people and organizational capabilities create confidence among both customers and employees. In particular, I would like to highlight our technical organization, which—despite the breadth of our offering—maintains cutting-edge specialist expertise across all key technology areas.

Another essential milestone is our newly constructed facility, which provides excellent conditions for continued growth. During the year, we have increased both efficiency and production capacity, while fully complying with all requirements set during the environmental certification of the building. For our customers, this translates into maximum delivery reliability and consistently high quality—critical factors, especially in times of uncertainty.

Our strategic investment in block systems has delivered strong results. Market interest has been high, and we welcomed several new customers this year. Our ability to deliver large production volumes with high quality and strong cost efficiency is particularly valued by larger OEMs—a customer segment where HydX continues to grow.

Looking Ahead to 2026

As we approach 2026, signs indicate that the prolonged economic downturn is beginning to ease, as reflected in both our order books and customer dialogues during the final months of the year. At the same time, we are moving closer to 2030 and the climate targets set by the European Union. On a global level, political commitment to climate action varies—an unfortunate reality, as industry requires long-term clarity and stable frameworks to invest with confidence in sustainable transformation.

At HydX, we have chosen to be part of the solution. Together with our sister company ETP, we continue to expand our offering within electrification and autonomous functions.

Mikael Andersson

CEO, HydX

At HydX, we have chosen to be part of the solution. Together with our sister company ETP, we continue to expand our offering within electrification and autonomous functions. The demand for sustainable, energy-efficient, and intelligent solutions is growing rapidly. With our expertise, HydX is a trusted partner in one of the most significant technological transformations of our time. During 2026, we will take further steps to support our customers in their transformation journeys. With the right partner, this shift becomes a clear business opportunity.

In closing, 2025 has reinforced the insight that stability and development are created through our own actions, giving me confidence as we step into 2026.

Wishing you a Merry Christmas and a Happy New Year.

Mikael Andersson
CEO, HydX & VP, Volito Industry

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