Outlook 2026

For Vebego, 2025 was, above all, the year in which the upheaval of the previous period ended and we got a clear picture of the future. It marked the conclusion of our ‘One Vebego’ group strategy and the multi-year Designing our Future restructuring programme. Through this, we have optimised our organisational structure, reduced the number of business lines, created a single Vebego brand across our markets and nurtured a shared culture. 2025, therefore, clearly marked the start of a new phase in our journey: a period of stability and growth. Taking on the tough but necessary restructuring challenges has laid a solid foundation for the future, the benefits of which we have already begun to notice.

Although most of the major organisational changes are behind us, we still must capture the significant operational synergies that economies of scale promise. This is needed to ensure a stronger financial position and to simply survive as a business. Our competitors are growing stronger, regulatory pressure is increasing and our customers are becoming more demanding.

Stability is not just desirable; it is essential. Our core areas of expertise have always been challenging, given the thin margins that characterise our industry. Low entry barriers, high fragmentation and labour-intensive services require a continuous focus on operational excellence, close attention to our customers’ needs, the ability to efficiently adjust to changing requirements, and committed and motivated employees.

Nevertheless, we have a stable revenue stream that is improving year on year, while our net result is also increasing. Therefore, based on available external benchmarking and adjusting for known differences, we believe that we can achieve a stable and substantially higher EBITA level at the group level in 2030. That said, we recognise we still have some way to go to achieve this, based on our historical financial performance.

Going forward, we will improve the quality and professionalism of our organisation by using the power of the collective and building a healthy financial foundation for future growth. Our new strategy, formulated in 2025 for launch in 2026, will support these ambitions. We also plan to further simplify the legal entity structure of Vebego Group, thereby reducing the administrative workload.