Exsitec (EXS) Q2 2026 earnings summary

Executive summary

• Achieved 12% net sales growth in Q2 2026 year-over-year, with 8% organic growth, driven by recurring software revenue and the acquisition of Amesto Solutions, which strengthened the Nordic market position, especially in Norway.

• Recurring software revenue reached SEK 246 million LTM, up 19% year-over-year, providing a stable revenue base.

• Order intake from new customers increased by 8% year-over-year, with a 19% increase on an LTM basis.

• Amesto Solutions acquisition brought over 1,500 customers, 120 employees, and an estimated 230 MNOK turnover for the next 12 months, consolidating market leadership in Norway.

• Cash flow from operating activities in Q2 was SEK 64 million, up 36% year-over-year.

Financial highlights

• Q2 2026 net sales: SEK 255 million (up 12%); H1 2026 net sales: SEK 493 million (up 5%).

• Adjusted EBITA for Q2 was SEK 50 million (up 12%), margin 19.5%; H1 adjusted EBITA was SEK 99 million (up 10%), margin 20%.

• Reported EBITA for Q2 was SEK 37 million, down 17% due to SEK 13 million in one-off costs, mainly from the Amesto acquisition and Norwegian restructuring.

• LTM net sales reached 920 MSEK, with Adjusted EBITA of 167 MSEK and an 18% margin.

• Earnings per share Q2: SEK 1.37 (down 22%); H1: SEK 3.81 (up 1%).

Outlook and guidance

• Market conditions are gradually improving, especially in Sweden, supporting a positive outlook for H2.

• No formal forecast provided, but management is focused on long-term profitable growth, both organically and through acquisitions.

• Financial goals remain: net sales and adjusted EBITA per share to grow at least 15% per year over time.

• Net debt policy: not to exceed 2x EBITDA; dividend policy: 20%-40% of profit after tax.

• Integration of Amesto Solutions is underway, with cost synergies to be detailed in Q3.