Bravida (BRAV) Q2 2026 earnings summary

Executive summary

• Net sales rose 9% year-over-year in Q2 2026 to SEK 7,629 million, with all countries contributing positively and organic growth also at 9%.

• EBITA/EBITDA margin improved to 7.5% from 5.4%, with EBITA/EBITDA up 51% to SEK 570 million, aided by SEK 118 million in non-recurring items from the ABEKA sale and restructuring costs; adjusted margin was 5.9%.

• Order intake surged 44% to SEK 11,691 million and order backlog reached a record SEK 20 billion, up 21% year-over-year, driven by major data centre contracts across the Nordics.

• Profit after tax increased 59% to SEK 429 million; EPS was SEK 2.10, up from SEK 1.31.

• Strong financial position with net debt/EBITDA at 1.3x, robust cash conversion, and continued support for investments and shareholder returns.

Financial highlights

• Net sales: SEK 7,629 million in Q2, up 9% year-over-year; H1 net sales up 6% to SEK 14,674 million.

• EBITA/EBITDA: SEK 570 million in Q2, up 51%; H1 EBITA SEK 895 million, margin 6.1% (5.4% adjusted).

• EPS: SEK 2.10 in Q2; H1 EPS SEK 3.26.

• Cash conversion: 77% (down from 80%); net cash flow from ABEKA divestment SEK 208 million.

• Share buybacks: SEK 100 million completed, with an additional SEK 100 million program announced.

Outlook and guidance

• Strong order backlog and intake are expected to drive growth, especially in data centres, infrastructure, healthcare, and electrification.

• Management anticipates further margin improvements, especially in Denmark and Norway, as transformation and efficiency measures continue.

• Cash flow is expected to strengthen as advances from large contracts are received and as the market recovers.

• No formal forecast provided; management expects to emerge stronger from the current recession.

• Board authorized additional share buyback program of up to SEK 100 million before Q3 2026.