Swedish investment firm Ratos reported a stronger fourth-quarter performance with adjusted EBITA rising 57% to SEK 346 million, despite significant non-cash charges that pushed the company to a quarterly loss of SEK 1.73 billion. The improved underlying profitability came as net sales declined 2% to SEK 4.6 billion, with organic growth of 3% offset by negative currency effects of 4%.

Operating profit fell to SEK 1.59 billion from SEK 69 million after SEK 1.91 billion in items affecting comparability, primarily a SEK 1.05 billion goodwill impairment in Plantasjen and a SEK 795 million non-cash effect from the signed agreement to divest Expin Group. The company's Class B shares closed at SEK 38.06 on December 31, delivering a total return of 26.5% compared to 12.7% for the SIX Return Index.

For the full year, adjusted EBITA for continuing operations rose 17% to SEK 1.93 billion, while the group posted total operating profit of SEK 3.33 billion due to capital gains from divestments. Ratos proposed a dividend of SEK 1.40 per share, representing 50% of adjusted earnings per share. The company's leverage ratio stood at 0.6x, with interest-bearing net debt excluding lease liabilities at SEK 3.24 billion.