Addtech (ADDT) Q3 25/26 earnings summary

Executive summary

• Net sales for Q3 increased 1% year-over-year to SEK 5,556 million, with organic growth offset by a 3% negative currency impact.

• EBITA rose 9% to SEK 864 million, with margin improving to 15.6% from 14.4% last year, and profit after tax increased 16% to SEK 530 million.

• Eight acquisitions were completed year-to-date, adding SEK 1,440 million in annual sales and nearly 400 employees, with a major German company acquired post-quarter.

• A new organizational structure with six business areas was implemented to support future growth.

• Strong order intake and positive book-to-bill ratio across most segments, despite mixed market conditions.

Financial highlights

• Q3 net sales: SEK 5,556m (+1% YoY); EBITA: SEK 864m (+9% YoY); EBITA margin: 15.6% (up from 14.4%).

• 9-month net sales: SEK 16,845m (+5% YoY); EBITA: SEK 2,630m (+10% YoY); EBITA margin: 15.6% (up from 14.9%).

• Earnings per share reached SEK 5.70 (up 16% in Q3, 13% year-to-date).

• Operating cash flow in Q3: SEK 798m (+22% YoY); 9-month operating cash flow: SEK 2,134m (+15% YoY).

• Leverage at a historically low 1.2, and return on capital employed steady at 22%.

Outlook and guidance

• Acquisition pipeline remains strong, with expectations to maintain a high pace of acquisitions and further value-generating deals.

• Order books remain well-filled, with sequential improvement and positive book-to-bill in most business areas.

• Margin improvements are expected to stabilize, with some segments likely to revert to rolling 12-month averages.

• Some input cost challenges (e.g., silver prices) may persist but are not expected to materially impact group results.