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Nurminen Logistics (NLG1V) investor relations material
Nurminen Logistics Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 net sales rose 10.4% YoY to €26.3m, led by international rail and Baltic growth; the period ended with a €3.2m net loss.
International expansion supported growth while lower Finnish rail volumes, launch costs and financing charges weighed on profitability.
Financial highlights
Q3 net sales were €26.3m vs €23.8m; 9M net sales were €80.0m vs €84.2m.
Q3 EBITDA was €2.3m vs €5.5m; comparable EBITDA was €3.6m vs €5.9m.
Q3 comparable EBITA was €1.8m vs €3.8m; reported EBITA was €0.6m vs €3.4m.
Q3 operating result was €0.4m vs €3.2m; net loss was €3.2m vs €1.6m net income, and EPS was -€0.04 vs €0.01.
9M comparable EBITA was €8.3m vs €14.6m; operating cash flow was €2.1m vs €14.1m.
Outlook and guidance
FY 2026 net sales are expected at the comparison-period level or slightly lower; comparable operating profit is expected significantly lower YoY but to remain at a good profitability level.
Spain–Sweden traffic is progressing to plan, with service launch targeted for early 2027.
- Q2 net sales up 0.8%, H1 down 11%; international rail growth offsets domestic declines.NLG1V
Q2 2026 - Expanding as a pan-European rail operator with strong financials and scalable, asset-light growth.NLG1V
CMD 2026 - Net sales and profit declined, but new Italy-Sweden rail services drive future growth.NLG1V
Q1 2026 - Rail-driven growth offset Baltic declines; strong cash flow and balance sheet enable expansion.NLG1V
Q4 2025 - International rail growth offset Baltic weakness, with strong cash flow but lower EBITA outlook.NLG1V
Q3 2025 - Record profitability and cash flow achieved as railway business drives growth and outlook remains strong.NLG1V
Q2 2025 - Record H1 profit, but 2024 outlook cut as Baltic volumes fall from Red Sea crisis impact.NLG1V
Q2 2024 - Profitability improved despite a 34% sales drop, with rail business and margins strengthening.NLG1V
Q3 2024 - Railway logistics growth drove profitability and cash gains despite Baltic headwinds.NLG1V
Q1 2025
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