Net sales reached SEK 2,245 million in Q2 2026, up 18% year-over-year, with 11% organic growth and strong contributions from acquisitions.
Adjusted EBITA/EBITDA rose 33% to SEK 224 million, with a margin of 10.0%, driven by Fiber Solutions and Data Center segments.
North America accounted for 44% of total sales, up from 34% a year ago, reflecting rapid expansion in the region.
Data Center and Harsh Environment segments now represent 40% of net sales and 50% of adjusted EBITA/EBITDA, reflecting ongoing strategic diversification.
Major acquisitions included JOWO Systemtechnik AG and Superior Fiber & Data Services, funded by a SEK 600 million share issue.
Adjusted gross margin was 38.7%, down from 40.1% year-over-year due to business mix and prior exceptional Data Center margins.
Earnings per share after dilution rose 61% to SEK 0.61.
Profit for the period was SEK 131 million, up 70% year-over-year.
Cash flow from operating activities was SEK 181 million, with an 84% cash conversion rate.
Net debt (excluding leases) was SEK 1.5 billion, leverage reduced to 1.7x from 2.2x, with SEK 694 million in cash and SEK 1.2 billion in backup facilities.
Fiber Solutions expected to maintain organic growth in the U.S., with European market remaining soft in the short term.
Data Center segment to continue strong organic growth, with margins stabilizing around the 15% long-term target.
Harsh Environment expected to see modest margin improvement in H2 2026, with defense sector strong but oil and gas softer.
Submarine cable order book is strong for 2026, with revenue more evenly spread between Q3 and Q4.
M&A focus remains on Data Center and Harsh Environment, with opportunistic approach to Fiber Solutions.
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