Enea (ENEA) Q3 2026 earnings summary

Executive summary

• Q3 net sales fell 4.8% YoY to SEK 202.3m; adjusted EBITDA was SEK 47.3m, with a 23.4% margin. Operating cash flow rose to SEK 66.4m.

• Strategy execution remains on track, with sales acceleration planned from 2027 and a solid, growing pipeline supporting strategic ambitions.

Financial highlights

• Q3 net sales were SEK 202.3m, down 4.8% reported and 6% currency-adjusted; 9M sales were SEK 642.7m, down 1.2%.

• Q3 adjusted EBITDA was SEK 47.3m versus SEK 70.3m; adjusted EBITDA margin was 23.4% versus 33.1%.

• Q3 adjusted operating profit was SEK 11.4m versus SEK 31.8m; reported operating profit was SEK 7.1m versus SEK 34.1m.

• 9M adjusted EBITDA was SEK 177.5m, with a 27.6% margin versus 30.1%; adjusted operating profit was SEK 70.6m versus SEK 78.5m.

• 9M profit after tax was SEK 37.5m versus SEK 6.9m; EPS was SEK 1.99 versus SEK 0.35.

Outlook and guidance

• FY2026 guidance unchanged: single-digit sales growth and adjusted EBITDA margin above 30%; 2026 remains an investment year.

• Long-term ambition is average annual growth above 10% during the strategy period and adjusted EBITDA margin above 35% by end-2028.

• Management expects growth acceleration from 2027 and is focused on delivering a stronger Q4, supported by a solid, growing pipeline.