HANZA (HANZA) Q3 2026 earnings summary

Executive summary

• Q3 sales rose 77% to SEK 2,487m, including 7% organic growth; adjusted EBITA margin increased to 8.7% from 6.9%.

• Operating cash flow was SEK 118m in Q3 and SEK 1,039m over the trailing 12 months; net debt / adjusted EBITDA was 1.4x.

• BMK integration advanced ahead of schedule; Fortaco was expected to close on 2 November 2026, adding heavy mechanics capacity.

Financial highlights

• Q3 adjusted EBITA was SEK 217m versus SEK 96m; reported EBITA was SEK 223m versus SEK 124m, including net +SEK 6m of items affecting comparability.

• Q3 revenue was SEK 2,487m versus SEK 1,404m; gross margin was 45.5% versus 44.6%, and EBITDA was SEK 317m versus SEK 193m.

• Adjusted EPS increased 53% to SEK 1.90 from SEK 1.24, despite the enlarged share base following the BMK acquisition.

• Jan–Sep revenue rose 81% to SEK 7,706m, with 12% organic growth; adjusted operating profit was SEK 662m versus SEK 299m, at an 8.6% margin.

• Jan–Sep operating cash flow was SEK 814m versus SEK 292m; profit after tax was SEK 304m versus SEK 170m.

Outlook and guidance

• 2028 targets are at least SEK 14bn revenue and a 9% operating margin; management said the revenue target is achievable without further acquisitions.

• Following Fortaco, net debt / adjusted EBITDA was estimated at ~2x, below the 2.5x target ceiling.

• Regional financial reporting is scheduled to begin in Q1 2027; current financial segments apply through Q4 2026.