Lammhults Design Group (LAMM) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was SEK 207.8 million, down 1.1% year-over-year, but up 2.1% adjusted for currency effects.

• Adjusted operating profit remained at SEK 0.9 million, with an adjusted operating margin of 0.4%.

• Net result after tax was SEK -3.9 million, or SEK -0.47 per share.

• Free cash flow including leasing was SEK -15.9 million, compared to SEK 1.4 million last year.

• Order intake decreased by 3.6% to SEK 206.4 million, but order backlog increased by 12.4% year-over-year.

Financial highlights

• Gross margin improved to 36.3% from 35.9% year-over-year.

• Adjusted gross profit was SEK 75.5 million, up slightly from SEK 75.3 million.

• Net margin was -2.1% versus 0.1% last year.

• Return on equity was -4.0% (0.0% last year); return on capital employed was 2.7% (2.5%).

• Equity ratio improved to 55.4% from 53.6% year-over-year.

Outlook and guidance

• The EBIT margin target of 8-10% remains unchanged.

• Management expects the full effect of ongoing cost-saving initiatives (SEK 30 million) to be realized gradually in 2026 and fully in 2027.

• Market conditions remain challenging due to geopolitical instability and weak demand, but the company is focused on long-term positioning.