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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Mildef Group
Mildef Group (MILDEF) investor relations material
Mildef Group Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary22 Oct, 2026
Executive summary
Q3 net sales rose 54% organically to SEK 829.2m; adjusted EBITA increased 113% to SEK 180.5m, with a record quarterly adjusted EBITA margin of 21.8%.
Order intake reached SEK 2,091m, up 130% YoY; backlog was SEK 5,654m at September 30, up 34% in the quarter and 61% LTM.
Strong demand and major contract wins support delivery visibility into 2027, while electronic-component supply constraints remain a challenge.
Financial highlights
Q3 net sales were SEK 829.2m versus SEK 539.7m; operating profit was SEK 161.1m versus SEK 68.1m.
Adjusted EBITA was SEK 180.5m versus SEK 84.6m; gross profit was SEK 376.1m versus SEK 243.1m.
9M net sales rose 72% to SEK 2,167m; adjusted EBITA reached SEK 401.7m versus SEK 125.5m.
9M profit attributable to parent shareholders was SEK 237.9m versus SEK 54.5m; diluted EPS was SEK 5.05 versus SEK 1.17.
Free cash flow was -SEK 111.9m in Q3 and SEK 54.8m in 9M, versus -SEK 53.1m and -SEK 93.1m, respectively.
Outlook and guidance
Backlog was SEK 5,654m; planned delivery schedules are not guidance, and actual results may differ, mainly due to delays.
Management entered Q4 with a positive view of sustained growth and solid profitability, citing demand, established customer positions and increased delivery capacity.
The majority of the Bundeswehr call-off is expected to deliver in 2027; management sees potential for major contracts in 2027, though order timing remains volatile.
Rosersberg expansion supports higher volumes; increased capacity could moderate historical seasonality in 2027, though the pattern remains uncertain.
Long-term targets: annual sales growth of at least 25% including acquisitions, EBITA margin above 15%, and net debt/EBITDA no higher than 2.5x except temporarily.
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Latest events from Mildef Group
- Q2 saw 64% sales growth, record profitability, and major defense contracts despite supply chain issues.MILDEF
Q2 2026 - Record Q1 order intake and sales drove margin gains and record cash flow, with strong outlook.MILDEFQ1 2026
- Strong order growth and focus on tactical IT drive expansion in European defense markets.MILDEFStora Aktiedagarna 2026
- Record Q4 and year with strong growth, high margins, and a robust order backlog.MILDEFQ4 2025
- Order backlog up 121% and sales up 25%, with digitalization and OneCIS fueling future growth.MILDEFCMD 2025
- Accelerated growth and 15% EBITA margin targeted as defense spending and digitalization rise.MILDEFCMD 2024
- Order intake up 134% and profitability targets raised amid record backlog and strong sales.MILDEFQ3 2024
- Order intake up 43% and record backlog drive growth, with margin and strategic gains.MILDEFQ2 2024
- Order intake up 49%, net sales up 4.3%, record backlog, and major defense sector expansion.MILDEFQ4 2024
Next Mildef Group earnings date
Q4 20264 Feb, 2027
Mildef Group
Next Mildef Group earnings date
Q4 20264 Feb, 2027
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Frequently asked questions
MilDef Group AB develops, manufactures, and sells rugged IT solutions and special electronics primarily to customers in the security and defense sectors. Its product portfolio is divided into mobile computers that are used by soldiers, unit commanders and in vehicles; mobile servers for critical infrastructures that can be used on land, sea, air and space environments; servers for harsh environments; and tarpaulin protective covers to protect equipment from dirt and moisture. The company markets its products under the MilDef brand name through a network of distributors in Africa, Asia, Europe, Oceania, South America, and North America.