Lagercrantz Group (LAGR) Q2 2026 earnings summary

Executive summary

• Net revenues for Q2 rose 13% year-over-year to MSEK 2,457, driven mainly by acquisitions and modest organic growth, with EBITA up 14% to MSEK 440 and a margin of 17.9%.

• Profits after financial items grew 17% to MSEK 343, and profits after tax rose 16% to MSEK 260.

• Order intake for comparable units grew organically by 5% year-over-year, outpacing sales growth.

• Performance varied by division, with Electrify, International, and Control showing strong results, while TecSec and Niche Products faced headwinds.

• Ten acquisitions since October 2024 contributed annual revenue of MSEK 1,127, representing 12% of net revenues.

Financial highlights

• Q2 organic growth was 1%, with acquisitions contributing 14% and currency effects -2%.

• EBITA margin for Q2 was 17.9%; for 6M, 17.7%.

• Return on equity reached 30%; equity ratio at 31%.

• Cash flow from operations increased 11% for the six-month period but was below management’s expectations due to seasonality and working capital.

• Earnings per share for 6M rose to SEK 5.32 from SEK 4.93.

Outlook and guidance

• On track to reach SEK 2 billion profit goal within five years, maintaining a 15% annual profit growth target.

• Management remains cautiously optimistic for the next quarter, citing stable market conditions and resilience despite geopolitical uncertainty.

• Order intake for comparable units was slightly above invoiced sales, with 5% organic growth adjusted for currency.

• Acquisition pipeline remains strong, with 8–12 acquisitions targeted per year.