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B3 Consulting Group (B3) investor relations material
B3 Consulting Group Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 revenue fell 3.4% YoY to SEK 228.2m; EBIT rose 41.5% to SEK 10.6m and margin reached 4.7%, the strongest Q3 margin since 2022.
Cost control and lower operating expenses supported profitability; utilisation was 83.5%, up 0.5 percentage points YoY, while lower consultant numbers weighed on revenue.
Demand strengthened slightly, with AI-driven opportunities; priorities include sales, recruitment, accelerating AI adoption and organic growth in Sweden and Poland.
Financial highlights
Q3 net sales were SEK 228.2m versus SEK 236.2m; Jan-Sep sales were SEK 789.4m, down 6.9%.
Q3 EBITA was SEK 11.7m, up 36.9%; EBIT was SEK 10.6m versus SEK 7.5m, with a 4.7% margin versus 3.2%.
Q3 continuing-operations profit after tax was -SEK 2.7m versus -SEK 1.2m; a SEK 6.6m one-off bond-refinancing cost affected financial items.
Jan-Sep EBIT was SEK 30.0m versus SEK 28.9m; adjusted for SEK 4.6m of one-off costs, EBIT margin was 4.4% versus 3.4% reported.
Q3 operating cash flow was -SEK 25.0m versus -SEK 31.2m; the working-capital outflow improved to SEK 18.0m from SEK 31.3m.
Outlook and guidance
Entering Q4, management saw a slightly brighter market outlook and a solid financial foundation; recruitment remains important as capacity constraints limit growth in some subsidiaries.
Sales expansion and improved net recruitment are priorities, alongside accelerating AI adoption and focusing organic growth on Sweden and Poland.
AI priorities include agentic development, agents in production, secure data foundations and AI transformation; delivery models and pricing are changing.
Tekniska verken's framework agreement runs for two years, with extensions up to six years; total contract value is SEK 320m across five suppliers.
- Revenue fell 3.4% but margins, cash flow, and AI-driven demand improved, with refinancing secured.B3
Q2 2026 - Revenue and profit declined, but new deals and AI momentum support future growth.B3
Q1 2026 - Revenue up 7.1% in 2025, with margin gains but lower net income due to one-off effects.B3
Q4 2025 - Q3 2025 saw 3.9% revenue growth, margin gains, and a sharp drop in profit after tax.B3
Q3 2025 - Q2 revenue up 18.5% YoY, EBIT margin 3.3%, profit after tax declined amid market uncertainty.B3
Q2 2025 - Q3 sales up 9.9% from acquisitions, but profit and margins declined amid market challenges.B3
Q3 2024 - Sales and profit dropped, but acquisitions and cost savings set up a Q4 recovery.B3
Q2 2024 - Q1 revenue up 15% to 323.6 MSEK, margins improved, and cost-saving initiatives launched.B3
Q1 2025 - Q4 sales up 14.5% from acquisitions, but full-year profit and margins declined; no dividend for 2024.B3
Q4 2024
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