Indutrade (INDT) Q3 2026 earnings summary

Executive summary

• Q3 net sales rose 13% to SEK 8,871m, with 5% organic growth and an 8% acquisition contribution; order intake increased 16% to SEK 8,991m, and book-to-bill was 101%.

• EBITA rose 19% to SEK 1,358m, with margin up to 15.3%; operating cash flow increased 20% to SEK 1,216m.

• All five business areas grew organically, with broad demand improvement and a stronger backlog; market uncertainty remained high.

Financial highlights

• Q3 operating profit rose 19% to SEK 1,156m; profit before tax increased 18% to SEK 1,034m and net profit rose 19% to SEK 804m.

• Q3 gross margin was 35.8% versus 35.5% a year earlier, supported by pricing; tax rate was 22% and net financial items were SEK -122m.

• YTD net sales increased 8% to SEK 25,922m and EBITA rose 12% to SEK 3,750m, with a 14.5% margin; net profit was SEK 2,187m and EPS SEK 6.00.

• Q3 EPS rose 19% to SEK 2.21 from SEK 1.85; YTD EPS increased 13%.

• Rolling 12-month sales were SEK 34,148m and EBITA SEK 4,844m; operating cash flow was SEK 4.3bn.

Outlook and guidance

• Strong backlog and acquisition pipeline support upcoming quarters; backlog was 11% above the prior-year period, though more orders have longer lead times and some deliveries fall beyond Q4 and Q1.

• Management expects slight sequential improvement in Process, Energy & Water profitability in Q4; improvement in U.K. project businesses is expected to be gradual and not resolved in Q4.

• Life Science momentum was strong, with pharma and single-use expected to perform well into Q4.

• Long-term targets: annual growth of at least 10% over a business cycle, EBITA margin of at least 14%, average ROCE of 20%, and net debt/equity normally below 100%.