B3 Consulting Group (B3) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue declined 5.8% year-over-year to 304.9 MSEK, with EBIT margin dropping to 3.2% from 4.9% and negative organic growth of -13.1% partially offset by acquisitions contributing +7.3 percentage points.

• EBIT fell to 9.8 MSEK, down 38.1% year-over-year; adjusted EBIT margin was 3.8% excluding one-time CEO transition costs.

• The failed Webstep acquisition accounted for most of the revenue and profit decline, with 70% revenue and 65% FTEs lost.

• New contracts were secured in public sector, telecom, and finance, and AI services are gaining traction, positioning the company for future growth.

• Net income dropped to 1.8 MSEK from 7.5 MSEK, and EPS was 0.12 SEK, down 83.4%.

Financial highlights

• Revenue: 304.9 MSEK, down 5.8% year-over-year.

• EBIT: 9.8 MSEK (3.2% margin), down from 15.9 MSEK (4.9%) last year.

• EBITDA: 18.4 MSEK (6.0% margin), down from 24.0 MSEK (7.4%).

• EBITA: 11.3 MSEK (3.7% margin), down from 17.2 MSEK (5.3%).

• Cash flow from operations: 6.1 MSEK, down 45.5% year-over-year.

Outlook and guidance

• Market uncertainty continues, but excluding Webstep, revenue decline limited to 0.8%.

• Management focuses on cost control, selective recruitment, and investments to return to growth.

• No dividend proposed for 2025 to maintain financial flexibility for future value creation and acquisitions.

• AI and digitalization expected to drive future growth.

• Market remains cautious due to geopolitical uncertainty, especially the war in Iran.