Bravida (BRAV) Q3 2026 earnings summary

Executive summary

• Q3 net sales rose 9% YoY to SEK 7,027m, organic growth was 9%, and order intake increased 72% to SEK 10,317m; order backlog reached a record SEK 24,216m, up 48%.

• EBITA grew 34% to SEK 460m and margin expanded to 6.5%; profit after tax rose 42% to SEK 347m.

• Higher volumes, improved project execution and efficiency supported profitability across all markets; a substantial data-centre pipeline and strong backlog underpin expected growth and gradual margin improvement.

Financial highlights

• Q3 net sales were SEK 7,027m versus SEK 6,433m; organic growth was 9% versus -3%, while currency effects contributed 1%.

• Q3 EBITA was SEK 460m versus SEK 342m; reported margin was 6.5%, or 6.7% adjusted for SEK 8m of non-recurring costs.

• 9M net sales increased 7% to SEK 21,701m; EBITA rose 32% to SEK 1,355m and profit after tax increased 37% to SEK 1,016m.

• 9M EBITA included a SEK 158m gain on the ABEKA divestment and SEK 68m of Swedish restructuring costs; adjusted EBITA margin was 5.8% versus 5.1%.

• 9M basic EPS was SEK 4.97 versus SEK 3.61; diluted EPS was SEK 4.96 versus SEK 3.61.

Outlook and guidance

• Nordic markets are expected to grow gradually, with stronger demand in data centres, defence facilities, hospitals, transport infrastructure, electrification and digitalisation; housing new-build activity is expected to remain weak.

• Record backlog with appropriate margin expectations, together with operating efficiency and balanced capacity, supports continued growth and gradual profitability improvement as projects convert to production.

• Demand for small and medium projects and service remained strong overall, though new construction in Norway and parts of southern Sweden remained weaker or hesitant.