Hedera Group (HEGR) Q2 2026 earnings summary

Executive summary

• Net sales for Q2 2026 were 120.0 MSEK, a decrease of 7.2% year-over-year; EBITDA was -3.6 MSEK, with adjusted EBITDA at -2.8 MSEK, reflecting continued cost savings and efficiency measures.

• Result after financial items improved to -5.2 MSEK (from -5.3 MSEK), aided by lower financial costs and despite lower revenue.

• Cash flow for the quarter was -1.5 MSEK, impacted by loan amortizations; liquidity at period end was 5.0 MSEK.

• The CEO expects improved profitability and potential growth in the second half of 2026, supported by stabilized operations and further cost reductions.

Financial highlights

• Q2 net sales: 120.0 MSEK (129.3 MSEK in Q2 2025); H1 net sales: 239.4 MSEK (261.2 MSEK in H1 2025).

• Q2 EBITDA: -3.6 MSEK (-2.7 MSEK); adjusted EBITDA: -2.8 MSEK (-2.7 MSEK); Q2 EBIT: -4.8 MSEK (-4.0 MSEK).

• H1 EBITDA: -1.5 MSEK (2.6 MSEK); adjusted H1 EBITDA: -0.7 MSEK (2.6 MSEK).

• Net debt at quarter end: 14.1 MSEK; net debt/EBITDA (LTM): 16.1x (2.4x).

• Equity ratio at June 30, 2026: 45% (49%).

Outlook and guidance

• CEO anticipates improved profitability and modest growth in H2 2026, driven by cost savings, stabilized operations, and no major holidays in Q3.

• Market remains competitive with regulatory and pricing pressures; focus remains on compliance and efficiency.