Impact Coatings (IMPC) Q3 2026 earnings summary

Executive summary

• Q3 net sales more than doubled YoY to SEK 36.5m; net income was SEK 3.6m versus a SEK 12.1m loss, with EBIT of SEK 3.8m.

• Order intake was SEK 9.5m; China Coating Services activity improved after a weaker H1, and five new paying customers were added in Q3.

Financial highlights

• Q3 net sales comprised SEK 16.6m in coating systems, SEK 17.8m in Coating Services and SEK 2.1m in aftermarket; Services included SEK 9.0m of recovered-metal sales.

• Q3 total revenue was SEK 38.0m versus SEK 16.1m; gross profit was SEK 21.2m versus SEK 9.0m, with a 56% gross margin in both periods.

• Jan–Sep net sales were SEK 58.9m versus SEK 31.5m; total revenue was SEK 61.1m versus SEK 50.5m, and EBIT was SEK -20.3m versus SEK -41.9m.

• Q3 operating expenses excluding raw materials fell to SEK 17.7m from SEK 20.4m; Q3 personnel costs were SEK 9.4m versus SEK 12.7m, and 9M personnel costs were SEK 34.2m versus SEK 43.8m.

• Excluding recovered metals, Q3 net sales were SEK 27.5m; recovered-metal sales were SEK 9.0m versus SEK 1.4m in Q3 2025.

Outlook and guidance

• Priorities remain customer and sales development, converting sales efforts into orders and revenue, cost control, cash flow and margin improvement toward long-term profitability.

• Financing was assessed as sufficient for operations over the coming 12 months; earnings remain sensitive to system delivery timing and quarterly sales variation.

• Shanghai was running one shift with overtime; customer forecasts could require a return to two shifts, depending on demand and overtime capacity.

• SOFC opportunities may bring a Services ramp-up in 2027 or near-term system sales; HJWAVE expansion could require more than one machine, subject to successful expansion.

• Romanian IC2000 delivery is planned for 2027, subject to signing a final supply agreement.