Luotea (LUOTEA) Q3 2026 earnings summary

Executive summary

• Q3 net sales rose 0.4% YoY to €84.2m; adjusted EBITA increased to €5.7m from €4.9m, lifting the margin to 6.8% from 5.8%.

• Earnings improvement in Sweden continued for a seventh consecutive quarter, though it remained below expectations; Finnish cleaning and support services underperformed.

Financial highlights

• Q3 adjusted operating profit was €5.4m versus €4.5m; operating profit was €4.5m versus €4.0m, including €0.8m of comparability items.

• 9M net sales rose 0.4% to €258.4m and adjusted EBITA increased to €8.6m from €7.2m; operating cash flow after investments was €0.1m negative versus €11.4m.

• 9M adjusted operating profit was €7.5m versus €6.1m; operating profit was €5.0m versus €4.7m, including €2.5m of comparability items.

• Continuing-operations result was €3.4m in Q3 versus €2.9m; 9M result was €3.1m in both periods. EPS was €0.09 and €0.08, respectively.

Outlook and guidance

• 2026 adjusted EBITA is expected to exceed 2025 adjusted EBITA of €7.0m; the outlook was updated from “increase or increase significantly” to “increase.”

• Medium-term targets include 4%–5% average annual organic revenue growth, adjusted EBITA margin above 5%, operating free cash flow above 90% of EBITA, and dividends of at least 50% of net profit.

• 2028 targets remain €400m revenue, adjusted EBITA above 5%, NPS 31 and eNPS 35.

• Net working capital is expected to turn positive in Q4, partly reversing the seasonal 9M outflow.