Addtech (ADDT) Q2 25/26 earnings summary

Executive summary

• Net sales for Q2 increased by 6% year-over-year to SEK 5,450 million, with 4% organic growth and strong project outcomes in Industrial Solutions.

• EBITA/EBITDA grew 11% to SEK 844 million, with margin improvement to 15.5% from 14.9%, reflecting continued profitable growth.

• Cash flow from operating activities strengthened to SEK 859 million in Q2, driven by earnings growth and working capital improvements.

• Three acquisitions completed in the period, adding SEK 465 million in annual sales and 132 employees.

• Reorganization effective from October 1, expanding to six business areas to support future growth.

Financial highlights

• Net sales for the first half rose 7% to SEK 11,289 million, with 3–4% organic and 7% acquired growth, offset by a -3% FX effect.

• EBITA for the first half increased 11% to SEK 1,766 million, with a margin of 15.6%.

• Profit after tax for the first half was SEK 1,061 million, up 13% year-over-year, with EPS at SEK 3.80.

• Operating cash flow up 45% in the quarter.

• Return on working capital (P/WC) improved to 77% from 71–72% last year.

Outlook and guidance

• Favourable outlook for upcoming quarters, supported by a diversified portfolio, high customer activity, and a strong order backlog.

• Well-filled acquisition pipeline and strong balance sheet support continued acquisition activity.

• Temporary dip in electrical transmission expected to recover early next year; long-term demand remains robust.

• Sawmill segment expected to weaken in the second half after strong project deliveries.

• Ambitious goal to double earnings every five years, with organizational changes to support future growth.