Inission (INISS) Q1 2026 earnings summary

Executive summary

• Q1 2026 net sales rose 37.4% year-over-year to 664.3 MSEK, with organic growth of 26.3% and acquired growth of 11.0%.

• EBITA increased to 46.7 MSEK (20.0 last year), with a 7.0% margin, and EPS improved to 1.5 SEK.

• Order intake reached 709.8 MSEK, book-to-bill ratio was 1.1, and cash flow from operations was 43.6 MSEK.

• Strategic milestones included acquisitions (Selteka, full ownership of AXEL/Axxe), new leadership, and factory inaugurations in Tunis and Borås.

• Major defense contract secured and Main Market listing on Nasdaq Stockholm increased trading activity.

Financial highlights

• Q1 2026: net sales 664.3 MSEK (+37.4%), EBITA 46.7 MSEK (margin 7.0%), EPS 1.5 SEK.

• EBITDA was 69.9 MSEK (42.0), margin 10.5%; EBIT reached 45.8 MSEK (19.1), margin 6.9%.

• Net debt stood at -465.9 MSEK, equity ratio at 40.2%, and result before tax was 42.8 MSEK.

• 2025: net sales 2,206 MSEK (+2.6%), EBITA 111 MSEK (margin 5.0%), EPS 1.3 SEK.

• LTM sales reached 2.35 billion SEK, with LTM earnings at 138 million SEK.

Outlook and guidance

• 2026 targets: sales of 2,300–2,500 MSEK, EBITA margin above 6%, NIBD/EBITDA 1.0–2.5.

• Medium-term goal: annual growth above 15% (10% organic, 5% via acquisitions), EBITA margin above 9%.

• Management expects to maintain current sales and profit levels, with guidance seen as conservative.