Asker Healthcare Group (ASKER) Q2 2026 earnings summary

Executive summary

• Net sales grew 18% year-over-year in Q2 2026 to SEK 4,686m, with 5%-6% organic and 12%-13% acquisition-driven growth.

• Adjusted EBITA rose 24% to SEK 471m, with margin improving to 10.0% from 9.5%, and profit for the quarter up 70% to SEK 225m.

• Over 50% of the annual M&A target was achieved by mid-year, with a strong acquisition pipeline and robust cash flow.

• MSCI ESG rating upgraded to AAA, supporting business development and tender wins.

• Efficient working capital management and capital utilization supported ongoing acquisition activity.

Financial highlights

• Adjusted EBITA for Q2 was SEK 471m, up 24% year-over-year, with a margin of 10.0% (+0.5 p.p.).

• Q2 net sales reached SEK 4,686m, up 18% year-over-year, with 5% organic and 12%-13% acquired growth.

• Cash flow from operating activities in Q2 was SEK 330m, with cash conversion above 80% year-to-date.

• Gross margin increased by 110 basis points year-over-year to 42%.

• Net debt/EBITDA at 2.37x, remaining below the medium-term target of 2.5x.

Outlook and guidance

• Management targets annual acquisitions contributing 10%-12% to EBITA growth, with continued focus on strategic M&A and capital efficiency.

• Expect continued organic EBITDA growth faster than the market, targeting 5%-8% range.

• Full benefits from the new Gothenburg warehouse expected in H2 2027, with minor dual costs and temporary working capital increases in late 2026 and early 2027.

• Tax rate guidance remains at 22%-23%.

• Stable demand in healthcare and strong cash flows provide flexibility for further investments.