Garpco (GARPCO) Q3 2026 earnings summary

Executive summary

• Q3 net sales rose 4.7% YoY to SEK 150.9m; EBITDA increased 31.1% to SEK 11.7m and EBITA reached SEK 7.2m, up from SEK 4.1m.

• Nine-month results improved substantially: sales grew 5.1% YoY, EBITDA rose 93.7% to SEK 45.6m, and net income was SEK 14.8m versus a SEK 0.9m loss.

• Profitability improved despite a delayed economic recovery; Polymer Materials led growth, while Industrial Tools and Interior & Design faced weak demand.

Financial highlights

• Q3 sales were SEK 150.9m (SEK 144.2m), up 4.7% YoY; acquisition-adjusted growth was 3.5%.

• Q3 EBITDA was SEK 11.7m (SEK 9.0m), EBITA SEK 7.2m (SEK 4.1m), and profit before tax SEK 3.4m (SEK 1.1m).

• Q3 net income was SEK 2.1m (SEK 0.1m); EPS after tax was SEK 1.99 (SEK 0.07).

• 9M sales were SEK 521.9m (SEK 496.6m), up 5.1% YoY; acquisition-adjusted growth was 2.8%.

• 9M EBITA was SEK 32.5m (SEK 9.5m), profit before tax SEK 21.3m (SEK 0.9m), and EPS SEK 14.06 versus a loss of SEK 0.83.

Outlook and guidance

• Expected full-year 2026 result remains materially stronger than 2025, based on the stronger first nine months and improved earnings capacity.

• Polymer Materials has high activity and a strong project pipeline; focus is on winning business and securing capacity for growth.

• Industrial Tools will continue adapting to weak sawmill conditions; Interior & Design will pursue portfolio concentration, organizational efficiency, and improved profitability.

• Management plans to keep adapting operations to current conditions rather than wait for a broader recovery, while investing in projects with profitable growth potential.