Boreo (BOREO) Q3 2026 earnings summary

Executive summary

• Eighth consecutive quarter of organic growth; Q3 sales rose 26% to €41.5m, including 25% organic growth, while operational EBIT more than doubled to €3.5m.

• Both business areas grew; strong industrial demand and deliveries supported results, while Q3 2025 was a low comparison quarter.

Financial highlights

• Q3 operational EBIT rose 111% to €3.5m; margin increased to 8.5% from 5.1%, and reported EBIT was €2.5m versus €0.6m.

• Q1–Q3 sales increased 18% to €126.1m; operational EBIT rose 50% to €7.8m and reported EBIT increased 11% to €5.1m.

• Gross margin declined to 30% from 31%, mainly reflecting product and company mix.

• Q3 operating cash flow was -€1.1m versus €2.2m, as working capital increased €4.0m; Q1–Q3 operating cash flow was €2.6m versus €1.9m.

• Q3 EPS was €0.44 versus -€0.16; Q1–Q3 EPS was €0.60 versus €0.37.

Outlook and guidance

• Short-term outlook remained good in both business areas; strong order books and ERP benefits supported expected earnings improvement.

• Long-term targets: annual average operational EBIT growth of at least 15%, ROCE of at least 15%, and net debt/operational EBITDA of 2–3x; no separate short-term financial guidance.

• Further acquisitions were anticipated in Q4; organic growth and disciplined acquisitions remain strategic priorities, with details planned for Capital Markets Day on November 19, 2026.