Arjo (ARJO) Q3 2026 earnings summary

Executive summary

• Q3 net sales were SEK 2,849m, up 6.0% organically; adjusted EBITDA was SEK 523m and adjusted operating profit was SEK 247m.

• Profitability improved on stronger gross margin and efficiency; a U.S. tariff refund also supported earnings.

Financial highlights

• Adjusted operating profit rose to SEK 247m from SEK 165m; adjusted EBITDA increased to SEK 523m from SEK 436m.

• Gross margin was 43.0%, up from 41.1%; adjusted operating margin was 8.7%, up from 6.2%.

• Operating profit was SEK 206m vs SEK 152m; net profit was SEK 58m vs SEK 81m, and EPS was SEK 0.21 vs SEK 0.30.

• 9M net sales were SEK 8,306m vs SEK 8,186m, with 4.8% organic growth; 9M adjusted operating profit was SEK 648m vs SEK 581m.

• Q3 exceptional items were SEK 41m, including strategic review and sales-organization restructuring costs; adjusted measures exclude exceptional items.

Outlook and guidance

• FY 2026 organic sales growth is expected within the 3–5% target range.

• A SEK 350m EBIT improvement versus 2025 is targeted by mid-2029, independent of future growth; effects build from 2027, with most realized in 2028.

• ~SEK 370m of restructuring costs are planned, primarily over the next 18 months; new financial targets are planned for Q1 2027.

• Flu-season uncertainty could materially affect Q4.