The increased revenue was primarily driven by growth in Europe, while earnings were negatively impacted by lower revenue in the US compared to last year. The EBIT margin before special items was 4.0% (4.4% in 2024).
In Europe, the results were positively impacted by contract wins in the ambulance business and higher demand for healthcare services in Scandinavia. Industrial Fire services also contributed positively with new contracts and improved profitability, whereas Falck’s travel assistance was negatively impacted by changing travel patterns during the second half of the year.
The ambulance business in the US remains strong. Organic growth was positive, but earnings were negatively impacted by salary increases, exchange rate headwinds, and lower revenue collection from ambulance trips compared to last year's extraordinary performance. In Latin America, increased sales efforts in Colombia led to our total number of subscriptions surpassing 500,000.
Organisational changes
In Q4 2025, Falck consolidated the organisation into four regions, Scandinavia, Europe, the US and Latin America. The composition of the Executive Management Team changed accordingly. This was followed by changes at other levels of the organisation, aimed at further increasing efficiency and reducing costs.
Outlook for 2026
In addition to renewed ambulance contracts in Denmark and Germany, a new contract in Catalonia, Spain, will contribute to increasing the revenue in 2026. In January 2026, Falck was also awarded the ambulance contract in Skåne, Sweden, which will come into effect in late 2026. In the US, Falck has commenced ambulance services in Boulder, Colorado as of January 1st, and the contract in Alameda, California has been extended.
“We have entered 2026 with optimism. Our businesses across all regions have shown resilience despite operating in volatile environments. We have grown organically in strategically important areas and have now streamlined our organisation to deliver more effectively going forward. We therefore raise our expectations for EBIT in 2026,”
says Jakob Riis, CEO of Falck.
For the financial year 2026, Falck expects to achieve organic growth of 4-5% and an EBIT margin before special items around 5%.
Financial highlights
|
DKK million (Falck total) |
2025 |
2024 |
|
Revenue |
12,495 |
12,134 |
|
EBIT before special items |
505 |
533 |
|
EBIT margin before special items (%) |
4.0 |
4.4 |
|
Profit for the year |
195 |
116 |
|
Free cash flow after tax |
125 |
231 |
|
Revenue growth, % (Falck total) |
2025 |
|
|
Organic (%) |
4.0 |
|
|
Acquisitions and divestments (%) |
0.1 |
|
|
Exchange rates (%) |
(1.1) |
|
|
Reported growth (%) |
3.0 |
|
Falck's annual report can be found on www.falck.com.
