Kentima (KENH) Q2 2026 earnings summary

Executive summary

• Strong market demand and increased order intake, with Q2 orders up 34% year-over-year to 18,767 KSEK and H1 orders up 33% to 40,152 KSEK.

• Q2 net sales rose 5% year-over-year to 18,958 KSEK; gross profit reached a record 9,844 KSEK, up 12%.

• Significant investments in product development and organizational expansion, including new hires and major product launches.

• Launched WideQuick BMS 2026.1 for building automation, marking a strategic milestone.

• Successful employee incentive program with 89% of options subscribed.

Financial highlights

• Q2 2026: Net sales 18,958 KSEK (+5%), gross profit 9,844 KSEK (+12%), EBITDA 1,385 KSEK (-45%), EBIT 233 KSEK (-84%), pre-tax profit 15 KSEK.

• H1 2026: Net sales 38,011 KSEK (+5%), gross profit 18,495 KSEK (+3%), EBITDA 2,867 KSEK (-46%), EBIT 569 KSEK (-82%), pre-tax profit 144 KSEK.

• Cash flow from operations in Q2 was -31 KSEK; total cash flow -349 KSEK.

• Cash and equivalents at period end: 5,100 KSEK (including unused credit of 4,968 KSEK).

• Gross margin in Q2 was 52% (up from 49%).

Outlook and guidance

• Management expects significant growth in coming years, driven by strong product demand, expanded sales organization, and improved market conditions.

• Strategic investments in product development and international expansion are expected to yield improved results from 2027.