NCAB Group (NCAB) investor relations material

Executive summary

• Record Q3 order intake of SEK 2,620.3m, up 166%, and net sales of SEK 1,463.0m, up 54%; growth spanned all regions and book-to-bill was 1.79.

• EBITA rose to SEK 210.8m from SEK 110.1m as pricing, forward orders, data-centre demand and acquisitions supported results.

• High-mix, low-volume PCB supplier with an asset-light manufacturing model and local presence across 19 markets.

Financial highlights

• Order intake rose 166% to SEK 2,620.3m; comparable-unit organic growth was 155% in USD.

• Net sales increased 54% to SEK 1,463.0m; comparable-unit organic growth was 45% in USD.

• EBITA was SEK 210.8m versus SEK 110.1m and margin rose to 14.4% from 11.6%; adverse FX reduced Q3 EBITA by SEK 8m.

• Operating profit was SEK 188.7m versus SEK 93.2m; profit after tax was SEK 129.8m versus SEK 60.9m, and diluted EPS was SEK 0.69 versus SEK 0.33.

• Gross margin was 34.8% versus 35.2%; Q3 operating cash flow was SEK 176.8m versus SEK 118.3m. 9M sales rose 30% to SEK 3,704.2m and EBITA 57% to SEK 477.6m.

Outlook and guidance

• Supply constraints, longer lead times and elevated prices are expected to persist; management sees no improvement before late 2027 at the earliest.

• Deliveries for current orders extend into 2027, with a material share of Q3 forward orders scheduled mainly for that year.

• Gross-margin aim remains 35%–36%; rapid cost changes make stability challenging, and North American data-centre infrastructure orders are scheduled for 2027 delivery.