Duroc (DURC) Q2 25/26 earnings summary

Executive summary

• Revenue for Q2 2025/2026 decreased by 5% to 682.3 MSEK, with organic growth at -4%.

• EBITDA improved to 19.7 MSEK from 9.5 MSEK year-over-year, but EBIT remained negative at -9.9 MSEK.

• Strategic divestment of IFG Asota GmbH post-period, freeing up significant capital and moving the group to a pro forma net debt-free position (excluding IFRS 16 lease liabilities).

• Polymer segment showed clear recovery, while Industrial & Trade units remained stable.

Financial highlights

• H1 2025/2026 revenue fell 8% year-over-year to 1,308.7 MSEK; organic growth was -7%.

• EBITDA for H1 was 25.2 MSEK (down from 36.0 MSEK), and EBIT was -30.1 MSEK (down from -12.2 MSEK).

• Adjusted EBIT for H1 was -37.5 MSEK, with an adjusted EBIT margin of -2.9%.

• Operating cash flow improved to 52.4 MSEK (from 7.3 MSEK).

• Earnings per share for H1 was -0.52 SEK (vs. -0.50 SEK prior year).

Outlook and guidance

• Focus is shifting to profitable, scalable Industrial & Trade segments, with further divestments in the Polymer segment planned.

• The group aims to maintain an active acquisition pace and improve profitability and return on capital.

• Balance sheet remains strong, supporting continued organic and acquisition-driven growth.