CAG Group (CAG) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was 216.1 MSEK, down 6.2% year-over-year, mainly due to a discontinued or divested subsidiary in Q1 2025.

• Adjusted EBITA was 18.0 MSEK, margin 8.3% (down from 9.9%), and net income was 12.0 MSEK with EPS of 1.68 SEK.

• Peter Strömberg appointed CEO as of May 7, 2026.

• Acquisition of Clara Financial Consulting completed April 1, expected to contribute positively from Q2.

• Board proposes a dividend of 4.30 SEK per share (up from 4.10 SEK), yield approximately 4%.

Financial highlights

• Cash flow from operations improved to 16.7 MSEK (14.5 MSEK last year).

• Net cash position at 98.2 MSEK as of March 31, 2026; total cash 128.0 MSEK.

• Equity ratio at 58.9% (increased to 63.5% year-over-year).

• Organic revenue growth was -6.2%; no acquired growth in the quarter.

• Dividend of SEK 4.30 per share proposed for 2025.

Outlook and guidance

• Frame agreement with FMV and FM (via NESP) valid for 3+4 years, estimated annual volume 140 MSEK.

• Market conditions improved slightly, but competition and geopolitical uncertainty persist.

• Company is well positioned in defense and financial segments, with new framework agreements expected to support growth.

• Medium-term targets: 10% annual revenue growth, adjusted EBITA margin above 10%, net debt below 1.5x adjusted EBITDA, and at least 50% of net profit distributed as dividends.

• Q2 and Q4 will each have one additional working day compared to 2025.