Alimak Group (ALIG) Q1 2026 earnings summary

Executive summary

• Delivered resilient Q1 2026 performance amid challenging market conditions, with revenue up 3% organically but down 5% reported, and adjusted EBITA/EBITDA margin at 16.7%, down from 17.3% year-over-year.

• Book-to-bill ratio of 1.08 supported backlog growth, despite an 11% reported and 4% organic decline in order intake, mainly due to weak construction markets and global uncertainties.

• Continued investment in product development, sales, operational excellence, and execution of the New Heights 2.0 strategy, with a focus on selective M&A.

• Strong decentralised divisional structure enabled customer-centric decision-making.

• Wind and Industrial divisions showed strong growth, while Construction and HSPS faced headwinds from weak markets and adverse weather.

Financial highlights

• Revenue: SEK/MSEK 1,653, down 5% reported, up 3% organically year-over-year.

• Adjusted EBITA/EBITDA: SEK/MSEK 275, down 8% year-over-year, with margin at 16.7% (down from 17.3%).

• Net earnings: SEK/MSEK 147, down 20%, EPS SEK 1.39 vs. SEK 1.74.

• Cash flow from operations: SEK/MSEK 75, impacted by lower earnings, tax payments, and working capital changes.

• Net debt/EBITDA at 1.85, within target and equity ratio at 56.5%.

Outlook and guidance

• Expect continued challenging construction markets and persistent market uncertainty due to geopolitical and inflationary pressures.

• Focus remains on executing the New Heights strategy for accelerated profitable growth through 2030, with continued investment in organic growth, acquisitions, and dividends.

• Industrial margins expected to recover as Q1 mix effects are seen as temporary.

• Wind division maintains strong growth outlook, supported by global energy trends.

• Currency headwinds likely to persist into Q2.