InstallatørGruppen (IG) Q2 2026 earnings summary

Executive summary

• Listed on Nasdaq Copenhagen on June 11, 2026, marking the first interim report as a public company and broadening access to capital markets.

• Revenue increased 29.5% year-over-year to DKK 2,222 million in H1 2026, driven by acquisitions, Swiss expansion, and 2.2% organic growth.

• Adjusted EBITA rose 34.6% to DKK 207 million, outpacing revenue growth.

• Record order book at DKK 4.3 billion, up 19% since year-end and 72% year-over-year.

• H1 2026 results align with expectations, and the full-year outlook is reiterated.

Financial highlights

• H1 2026 revenue: DKK 2,222 million (+29.5% YoY); adjusted EBITA: DKK 207 million (+34.6% YoY); margin 9.3%.

• EBITDA margin at 8.9% for H1 2026.

• Adjusted free cash flow: DKK 141 million; adjusted cash conversion: 71.3%.

• Net interest-bearing debt: DKK 1,090 million; leverage at 2.0x, within target.

• Net result for H1 2026 was a loss of DKK 79 million, mainly due to one-off IPO and transaction costs.

Outlook and guidance

• 2026 revenue guidance: DKK 4,650–4,900 million; combined basis: DKK 5,450–5,700 million.

• Adjusted EBITA guidance: DKK 415–465 million; combined adjusted EBITA: DKK 475–525 million.

• Organic growth expected at 2–5% for 2026; outlook reiterated.

• H2 expected to benefit from seasonally higher activity and full-period contribution from recent acquisitions.

• M&A pipeline active, targeting DKK 100 million in adjusted EBITA from acquisitions for the year.