eWork Group (EWRK) Q2 2026 earnings summary

Executive summary

• Q2 2026 performance aligned with internal plans, with a leaner organization, renewed customer focus, and notable business wins, especially in AI-related competencies.

• Net sales for Q2 2026 fell 13.0% year-over-year to SEK 3,130.8M, with gross profit down 13.9% to SEK 127.2M and EBIT down 37.4% to SEK 28.0M, reflecting a cautious market and lower assignment volumes in most regions.

• Order intake increased 5.4% in Q2 to SEK 4,367M, the first year-over-year rise since Q3 2024, though management remains cautious about a sustained turnaround.

• International expansion continues, with first consultant placements in Belgium and start-up phases in Belgium and Germany.

• The company is investing in AI-driven services and commercial capabilities, launching new tools and platforms to address evolving client needs.

Financial highlights

• Q2 2026 net sales: SEK 3,130.8M (-13.0% YoY); gross profit: SEK 127.2M (-13.9% YoY); EBIT: SEK 28.0M (-37.4% YoY).

• Gross margin stable at 4.1% for both Q2 and H1 2026, maintained for six consecutive quarters.

• Order intake rose to SEK 4,367M from SEK 4,141M in the prior year period.

• Earnings per share Q2: SEK 1.00 (1.92); H1: SEK 1.42 (2.90).

• Cash flow from operating activities Q2: SEK 70.7M (151.9); H1: SEK -27.8M (33.7).

Outlook and guidance

• Management aims for continued order intake growth in Q3 before confirming a market recovery.

• Investments in AI and commercial capabilities are expected to strengthen competitiveness and profitability in H2 2026.

• No significant investments are planned in the near term; expansion will be capital-light and organic.

• Organisational changes are projected to yield annual cost savings of SEK 18M, with full effect from 2027.

• Focus remains on increasing business volumes, enhancing sales capabilities, and leading in AI transition.