Argo Defence Group (ARGO) Q2 2026 earnings summary

Executive summary

• Net sales for Q2 2026 surged 459% year-over-year to SEK 69.9 million, driven by increased deliveries under framework agreements with Swedish defence authorities.

• Order backlog rose 52% to SEK 69.7 million, providing stable revenue visibility for upcoming quarters.

• EBITDA for Q2 reached SEK 6.0 million, with a margin of 8.6%, though profitability was impacted by higher freight costs.

• The Group completed its first delivery of customised containers to the Swedish Armed Forces under its largest framework agreement.

• No significant events occurred after the end of the reporting period.

Financial highlights

• Q2 2026 net sales: SEK 69.9 million (Q2 2025: SEK 12.5 million); H1 2026: SEK 115.5 million.

• Q2 2026 EBITDA: SEK 6.0 million (margin 8.6%); H1 2026 EBITDA: SEK 16.2 million (margin 14.0%).

• Q2 2026 operating profit: SEK 0.36 million; profit for the period: SEK -1.1 million; EPS: SEK -0.05.

• Order intake for Q2: SEK 29.5 million; order backlog: SEK 69.7 million.

• Equity at period end: SEK 151.6 million; equity ratio: 51.1%; total assets: SEK 296.8 million.

Outlook and guidance

• Ongoing framework agreements valued at SEK 867 million, with SEK 564 million remaining, ensure predictable revenues.

• Several defence procurement tenders are under evaluation, with decisions expected in autumn 2026.

• Expansion into international markets, particularly Germany and northern Europe, is underway in Defence Materiel.