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Elon (ELON) investor relations material
Elon Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for Q2 2026 increased by 2.5% year-over-year to 1,072 MSEK, driven by strong B2C growth in Sweden and e-commerce, while B2B declined due to weak construction sector activity.
EBIT improved to 19.8 MSEK from -18.5 MSEK in Q2 2025, with a margin of 1.8%. Net income was 8.9 MSEK, up from -26.8 MSEK.
Cost reduction initiatives and improved gross margin contributed to profitability, with operating expenses (excl. depreciation) down 24 MSEK year-over-year.
Cash flow from operations was 23.8 MSEK, up from 7.7 MSEK in Q2 2025.
An independent review found no evidence of criminal activity but noted documentation and compliance issues, prompting ongoing governance improvements.
Financial highlights
Q2 2026 revenue: 1,072 MSEK (up 2.5% YoY); H1 2026 revenue: 2,166 MSEK (down 0.6% YoY).
Q2 gross margin: 17.9% (17.5% in Q2 2025); adjusted gross margin: 17.4% (16.6%).
EBIT for Q2: 19.8 MSEK (margin 1.8%); H1 EBIT: 38.6 MSEK (margin 1.8%).
Net income per share Q2: 0.60 SEK (vs. -1.81 SEK); H1: 1.17 SEK (vs. -2.42 SEK).
Net debt at quarter-end: 339.8 MSEK (404.6 MSEK in Q2 2025); equity ratio: 23.1%.
Outlook and guidance
Focus remains on cost control, digitalization, and strengthening the service business.
Market for home electronics and appliances is stabilizing, with cautious recovery in consumer demand.
Growth in profitability is primarily from efficiency and cost savings, not top-line growth.
Medium-term targets: 5% annual organic revenue growth, 3% adjusted EBIT margin, net debt/EBITDA below 1.5x, and dividend payout of at least 50% of annual profit.
- Sales and margins fluctuated, but B2C growth, cost cuts, and acquisitions drove key results.ELON
Q4 2024 - EBIT and net income rebounded in Q1 2026 despite lower sales, with B2C growth and improved margins.ELON
Q1 2026 - Q4 showed operational improvement, but full-year loss led to a SEK 50M savings program.ELON
Q4 2025 - Restructuring and tax corrections drove a Q3 net loss, but B2C sales and margins improved.ELON
Q3 2025 - Net sales fell 4.6% in Q2 2025 as B2C grew but B2B and Solutions declined; EBIT turned negative.ELON
Q2 2025 - B2C growth and margin gains offset weak B2B/L&S, with EBIT and Euronics deal as highlights.ELON
Q3 2024 - Profitability rebounded on B2C growth, higher margins, and strategic supplier agreements.ELON
Q2 2024 - Sales up 3.3% with margin gains, B2C strength, and CEO transition underway.ELON
Q1 2025
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