Gullberg & Jansson (GJAB) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 21.7% YoY to SEK 72.4m; EBITA improved to SEK 2.1m from a SEK 0.8m loss, with both continuing business areas contributing.

• 9M revenue increased 15.7% to SEK 232.1m and EBITA to SEK 15.1m from SEK 5.6m; net income was SEK 10.8m versus SEK 8.0m.

• Energi & Klimat’s wind-down was substantially complete; its 9M result after tax was a SEK 5.2m loss.

Financial highlights

• Q3 operating profit was SEK 2.0m versus a SEK 18.3m loss; net income was SEK 0.3m versus SEK 4.5m, and EPS SEK 0.03 versus SEK 0.52.

• 9M operating profit was SEK 14.8m versus a SEK 12.1m loss; EPS was SEK 1.24 versus SEK 0.92.

• Q3 gross margin fell 0.9 percentage points YoY on product mix; management characterized the decline as temporary. 9M gross margin rose 1.4 points, supported by price adjustments.

• Q3 operating cash flow after working-capital changes was SEK 19.9m versus negative SEK 2.3m; 9M was SEK 14.0m versus SEK 19.3m.

Outlook and guidance

• No FY2026 earnings forecast was issued; the long-term objective is profitable growth through organic development and acquisitions.

• Priorities for 2027 include sales growth, improved gross margins, cost efficiency and tighter working-capital management across the continuing businesses.

• Hem & Trädgård plans sharper product and commercial priorities, with increased focus on pools and grills; Park & Miljö aims to convert its stronger commercial platform into higher margins and profitability.