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Serstech (SERT) investor relations material
Serstech Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net sales for Q1 2026 were KSEK 6,525, a significant decrease from KSEK 19,892 in Q1 2025, reflecting the tender-based nature of sales and expected quarterly fluctuations.
EBITDA for Q1 2026 was KSEK -4,277, down from KSEK 669 in Q1 2025, with EBIT at KSEK -6,515 compared to KSEK -1,339 year-over-year.
Gross margin improved to 72% in Q1 2026 from 61% in 2025, attributed to fully operational in-house production.
The company expects stronger performance in subsequent quarters, with April order intake already matching Q1 sales.
Financial highlights
Revenue declined 67% year-over-year in Q1 2026.
EBITDA margin was -66% in Q1 2026, compared to 3% in Q1 2025.
EBIT margin dropped to -100% from -7% year-over-year.
Earnings per share were SEK -0.03, down from SEK -0.01 in Q1 2025.
Cash flow from operating activities was KSEK -7,020, compared to KSEK -3,140 in Q1 2025.
Outlook and guidance
Management anticipates positive cash flow and a solid EBITDA margin for the full year 2026.
Order intake in April 2026 already equals Q1 sales, with expectations for larger orders from returning customers in upcoming quarters.
The ongoing war in Iran and Middle East conflict are not expected to materially impact 2026 sales.
- Revenue and earnings fell in 2025, but margin and growth improvements are expected in 2026.SERT
Q4 202527 Feb 2026 - Q3 2025 sales surged 129% year-over-year, with strong liquidity and expanded operations.SERT
Q3 20254 Nov 2025 - Q2 2025 revenue plunged 79% year-over-year, but gross margin held at 73% and liquidity strengthened.SERT
Q2 202516 Jul 2025 - Q3 revenue dropped sharply, but new orders and strong demand support a positive 2025 outlook.SERT
Q3 202413 Jun 2025 - Profitability sustained in Q2 2024 as new product launches and major orders drive future growth.SERT
Q2 202413 Jun 2025 - Q1 2025 sales up 40% year-over-year, but profitability pressured by higher costs and restructuring.SERT
Q1 20255 Jun 2025 - Serstech ended 2024 with strong Q4 orders and plans major sales and R&D investments for 2025.SERT
Q4 20245 Jun 2025
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