Alleima (ALLEI) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 1% reported to SEK 4,257m but fell 2% organically; adjusted EBIT was SEK 202m at a 4.8% margin.

• Kanthal growth and SEK 40m of targeted savings supported results, while weak OCTG demand and slower Nuclear production weighed on performance; Strip remained loss-making.

Financial highlights

• Q3 reported EBIT was SEK 315m versus SEK 127m, including SEK 107m in positive metal-price effects and SEK 5m in items affecting comparability.

• Q1–Q3 revenue was SEK 13,729m versus SEK 14,136m; adjusted EBIT was SEK 1,107m versus SEK 1,191m.

• Q3 adjusted diluted EPS was SEK 0.46 versus SEK 0.56; Q1–Q3 adjusted diluted EPS was SEK 3.18 versus SEK 3.56.

• Q3 free operating cash flow was SEK 373m versus SEK 285m; Q1–Q3 cash flow was SEK 638m versus SEK 678m.

Outlook and guidance

• Q4 markets and backlogs remain mixed: Umbilicals, Industrial Heating, Medical, Nuclear and Aerospace have momentum, while OCTG, Industrial and Chem/Petrochem face shorter backlogs or lower volumes.

• Lower volumes are expected to drive further Tube under-absorption; the unusual steam-generator order should have a smaller Q4 impact than in Q3 and is expected to finish in November.

• FY2026 CapEx guidance is SEK 1,000m; normalized tax guidance is 23%–25%.

• Based on October 21 rates, Q4 currency effects are expected to add ~SEK 100m to EBIT year over year; metal-price effects are expected to be neutral.