Net sales increased by 11% year-over-year to SEK 1,335 million in Q2 2026, driven by acquisitions and strong performance in Communication and Ettiketto Group.
EBITA declined 31% to SEK 91 million, mainly due to weak earnings in S:t Eriks Group and Tornum Group.
Three acquisitions completed in the last 12 months, including Tramex for Corroventa and two for Ettiketto, adding SEK 575 million in annual sales.
Salix Group was distributed to shareholders and began trading independently on Nasdaq Stockholm, generating a SEK 4.0 billion capital gain and 1055% ROI.
Profit after tax dropped 48% to SEK 37 million; EPS for continuing operations fell 57% to SEK 0.29.
Q2 2026 net sales: SEK 1,335 million (Q2 2025: SEK 1,201 million); EBITA: SEK 91 million (Q2 2025: SEK 132 million).
Operating cash flow for Q2 was SEK 163 million, up from SEK 105 million in Q2 2025; cash conversion (LTM) at 86%.
Net debt reduced to SEK 1,147 million at quarter-end; net debt/adjusted EBITDA at 2.9x, slightly lower than the same period last year.
EBITA margin for Q2 at 7% (down from 11% in Q2 2025); LTM Q2 2026 EBITA margin at 5.9% (down from 8.8%).
Return on adjusted equity at 18% (excluding Salix gain); including gain, 368%.
Margin improvements expected in Ettiketto Group and Tornum Group through operational and cost adjustments in H2 2026.
Acquisition pipeline remains strong; continued focus on balancing acquisition pace with leverage.
S:t Eriks and Tornum to continue facing tough market conditions, with focus on profitability improvements and gradual recovery in S:t Eriks expected in H2 2026.
Communication anticipated to maintain current trends; Corroventa gains stability from the Tramex acquisition.
Market conditions remain challenging in construction, civil engineering, and grain handling, but underlying investment needs persist.
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