Berner Industrier (BERNER) Q3 2026 earnings summary

Executive summary

• Q3 net sales rose 24.8% YoY to SEK 287.4m, including 22.3 percentage points of organic growth; EBITA reached a record SEK 34.5m, up 19.0%.

• Energy & Environment grew strongly, while Technology & Distribution returned to growth; Group order intake fell 17.7% YoY as fewer large projects were booked.

Financial highlights

• Q3 EBIT was SEK 20.3m vs SEK 28.7m; net earnings were SEK 9.7m vs SEK 21.4m and diluted EPS was SEK 0.52 vs SEK 1.12, with the quarter affected by a SEK 13.6m goodwill impairment.

• 9M net sales rose 16.4% to SEK 860.6m; EBITA increased 16.3% to SEK 83.7m, while EBIT was SEK 65.6m vs SEK 70.9m and net earnings were SEK 42.2m vs SEK 51.0m.

• 9M diluted EPS was SEK 2.25 vs SEK 2.67; operating cash flow was SEK 51.1m vs SEK 75.3m, and total cash flow was SEK -19.2m vs SEK -0.6m.

Outlook and guidance

• Financial targets over a business cycle: average annual revenue growth of at least 10%, average annual EBITA growth of at least 15%, ROE of at least 25%, and net debt/RTM EBITDA below 2.5x.

• Management cited solid ongoing-operation order intake and several agreed deals, and expects more larger-project orders in coming quarters; order intake can fluctuate with project timing.

• A new business system implementation at a major subsidiary was expected to be completed in Q4 2026.