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Bergman & Beving (BERG) investor relations material
Bergman & Beving Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary16 Jul, 2025
Executive summary
Achieved 22 consecutive quarters of increased EBITDA/EBITA, with Q1 EBITDA/EBITA up 9% year-over-year despite tough market conditions.
Revenue grew 5% year-over-year, mainly from acquisitions; organic revenue declined 3% due to market softness in construction and industry.
Four acquisitions completed, adding SEK/MSEK 300M in annual sales and aligning with profitability targets.
Divestment of Nordic/Skydda operations finalized, impacting future EBITDA/EBITA by SEK/MSEK 45M annually, with proceeds of SEK/MSEK 300M and potential earn-out.
Continued focus on capital efficiency, cost control, and gross margin protection.
Financial highlights
EBITDA/EBITA margin improved to 9.9% from 9.5% year-over-year.
EBIT and EBT increased 3% year-over-year; higher amortization and financial costs impacted the difference from EBITDA.
Adjusted EPS rose to SEK 2.1 for the quarter and SEK 8.30 (R12) before dilution; after dilution, SEK 8.20.
Gross margin reached just below 48%, up from 30% in early 2021, driven by product mix improvements.
Net debt to EBITDA increased to 2.5, reflecting acquisition activity.
Outlook and guidance
Organic growth not expected until year-end; near-term growth to be driven by acquisitions.
EBITDA/EBITA and margin targets postponed by a few quarters due to divestment impact; targets of MSEK 500 EBIT and 10% margin reaffirmed.
Market recovery anticipated possibly by year-end or early next year; focus remains on profit expansion and cost control.
Acquisition pipeline remains strong, with continued focus on highly profitable niche B2B companies.
Assess impact of Skydda divestment on targets.
Explain Core Solutions' Nordic construction demand.
How will divestment proceeds be allocated?
What specific market indicators signal a bottom?
How will Skydda proceeds impact M&A strategy?
Explain the gross vs. EBITA margin divergence.
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Next Bergman & Beving earnings date
Q2 202622 Oct, 2025
Next Bergman & Beving earnings date
Q2 202622 Oct, 2025
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Frequently asked questions
Bergman & Beving is a Swedish company that focuses on acquiring and developing niche companies, primarily in the industrial and construction sectors. The company is organized into three divisions: Building Materials, Workplace Safety, and Tools & Consumables. These divisions offer a wide range of products and solutions designed to enhance productivity, safety, and sustainability for businesses, particularly in the Nordic region. Bergman & Beving operates with a long-term ownership approach, using its extensive experience and resources to foster sustainable growth and profitability within its subsidiaries. The company is headquartered in Stockholm, Sweden, and its shares are listed on the Stockholm Stock Exchange.
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