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Medicover AB (publ) (MCVEY) Q4 2025 Earnings Call February 10, 2026 3:30 AM EST
Company Participants
John Stubbington – Chief Executive Officer
Anand Patel – Chief Financial Officer
Hanna Bjellquist – Head of Investor Relations
Conference Call Participants
Philip Ekengren – ABG Sundal Collier Holding ASA, Research Division
Julia Strand – Handelsbanken Capital Markets AB, Research Division
Mattias Vadsten – SEB, Research Division
Kristofer Liljeberg-Svensson – DNB Carnegie, Research Division
Kane Slutzkin – Deutsche Bank AG, Research Division
Presentation
Operator
Welcome to the Medicover Q4 2025 Report Presentation. [Operator Instructions] Now I will hand the conference over to the speakers, CEO, John Stubbington; and CFO, Anand Patel. Please go ahead.
John Stubbington
Chief Executive Officer
Good morning, everybody. It’s John here, and welcome to our Q4 results. It’s another good quarter for us. We’ve made some good progress. We’ve got continuing strong performance, double-digit growth again, and we’re seeing margin expansion, which is really, really pleasing. The performance remains strong. We’re seeing that with good demand across all of our markets and particularly from our fee-for-service segment. Margins are improving and good cost control in place. So we’re well positioned. We predicted a bit of softness in some of our lines in the previous quarter, and we have seen that, and we said that it would continue for a little bit longer. But we do see the beginnings of signs of recovery certainly in Q4. So we’re watching this space as we go through to Q1.
We’ve got continued organic growth and profitability improvements in Healthcare Services, particularly driven by our Sports and Wellness business and our ambulatory business. Our Diagnostic Services team, they’ve continued their momentum. They’ve got double-digit growth in all of the fee-for-service markets. and really strong volume tests that have increased. So well done to the team there. It’s really great to see. We predicted that our leverage
