Drillcon (DRIL) Q3 2026 earnings summary

Executive summary

• Q3 revenue was SEK 103.4m, up 14.9% YoY; EBIT was SEK 7.0m at a 6.8% margin versus SEK 2.9m and 3.2%; operating cash flow was SEK 0.5m versus negative SEK 2.7m.

• 9M revenue reached SEK 303.1m, up 4.6%; EBITDA was SEK 31.6m, EBIT SEK 7.5m and net profit SEK 4.3m, compared with a SEK 6.0m net loss in 9M 2025.

Financial highlights

• Q3 EBITDA was SEK 15.7m, with a 15.2% margin versus SEK 11.2m and 12.5% a year earlier; EPS was SEK 0.11 versus SEK 0.01.

• 9M operating cash flow improved to SEK 20.6m from SEK 7.4m; EPS was SEK 0.10 versus a loss of SEK 0.14.

• Adjusted EBIT, excluding one-time costs, was SEK 7.5m for 9M 2026 versus SEK 1.5m in 9M 2025; adjusted EBIT margin was 2.5% versus 0.5%.

• Q3 financial net expense was SEK 1.0m; profit after tax was SEK 5.1m versus SEK 0.3m in Q3 2025.

Outlook and guidance

• Backlog was approximately SEK 1.1bn entering Q4, with several European drilling inquiries; high metal prices and solid customer investment appetite supported near-term prospects.

• Priorities for the rest of 2026 and early 2027 include safe, profitable productivity, high fleet utilization, stronger maintenance and stepwise profitable growth.

• Nordic entered Q4 with full raise-drilling utilization, the Nussir project starting up and a strong core-drilling backlog; focus includes stable staffing and using added capacity.

• Iberia plans to improve customer operating conditions and align costs with project revenue; Spain is viewed as a growth opportunity.