Alcadon Group (ALCA) Q2 2026 earnings summary

Executive summary

• Broadened strategy to become a niche serial acquirer in digitalization, expanding from distribution to include product companies, with the acquisition of A-Antennas marking the first step and adding wireless connectivity expertise.

• Achieved fifth consecutive quarter of EBITA/EBITDA growth despite challenging market conditions, driven by operational efficiency and working capital discipline.

• Group operates in seven European markets, with Q2 2026 net sales of SEK 356 million and a rolling 12-month EBITDA margin of 7%.

• Subsidiaries operate autonomously, focusing on both distribution and product development.

• Earnings per share for Q2 2026 were SEK 0.54, up from SEK 0.31 in Q2 2025.

Financial highlights

• Q2 2026 net sales reached SEK 355.9 million, with adjusted EBITA of SEK 25.9 million (7.3% margin), up from SEK 23.8 million (6.8%) year-over-year.

• Gross profit was SEK 96 million with a gross margin of 27.1%.

• Operating cash flow for Q2 2026 was SEK 19.9 million, down from SEK 41.5 million in Q2 2025.

• Net debt ratio improved to 2.3x from 2.6x year-over-year, remaining stable post-acquisition.

• Profit for the period was SEK 13.3 million (Q2 2025: SEK 7.7 million); P/WC improved by 5 percentage points year-over-year.

Outlook and guidance

• Market remains turbulent with ongoing raw material shortages and price fluctuations, expected to persist into Q3.

• Focus remains on broadening offerings, entering new segments, and maintaining financial discipline.

• Continued acquisition agenda, targeting profitable, entrepreneurial-led companies in current geographies.

• Management aims for continued organic growth and further acquisitions in niche segments, with long-term targets including a P/WC of 50%, average profit growth of at least 10% per year, EBITA margin of 10%, and net debt ratio below 3.