Byggma (BMA) Q3 2026 earnings summary

Executive summary

• Q3 revenue fell 2.7% YoY to NOK 523.3m; adjusted operating profit declined to NOK 48.2m from NOK 57.2m amid higher input costs and weaker post-summer activity.

• YTD revenue rose 0.6% to NOK 1,776.0m and adjusted operating profit increased to NOK 137.8m from NOK 127.5m; YTD net income was NOK 114.4m vs NOK 173.5m.

• Growth priorities include product innovation, higher-value products, available capacity and potential M&A, with an organic sales vision of NOK 3,000m.

Financial highlights

• Q3 EBITDA was NOK 58.6m vs NOK 61.8m; YTD EBITDA was NOK 174.2m vs NOK 175.5m.

• YTD operating cash flow was NOK 69.1m vs NOK 18.8m; cash flow before interest and tax was NOK 128m vs NOK 86m.

• Q3 net income was NOK 44.7m vs NOK 59.8m; YTD PBT was NOK 130.2m vs NOK 186.2m, while adjusted PBT increased to NOK 38.1m from NOK 36.5m.

• YTD share of profit from the associate was NOK 62.4m vs NOK 131.7m; Q3 share was NOK 27.4m vs NOK 33.1m.

Outlook and guidance

• Housing sales exceeded starts in recent months, suggesting a possible market bottom; timing of recovery remains uncertain and Nordic housing activity is below underlying demand.

• Housing need in Norway is 30,000 units annually versus 13,657 sold and 15,654 commissioned over the prior 12 months.

• Smartpanel-to-Huntonit transfer cost savings are expected through autumn, reaching full effect from early 2027.

• Priorities include cost reductions, efficiency, automation, product innovation, sales outside Norway and portfolio expansion through strategic adaptations, alliances or transactions.