MedCap (MCAP) Q1 2026 earnings summary

Executive summary

• Net sales rose 13% year-over-year to SEK 556.6 million, with 4% organic growth and strong contributions from acquisitions.

• Adjusted EBITA increased by 30% to SEK 109.6 million, with a margin of 19.7%, reflecting robust operational performance across all business areas.

• All business segments—Assistive Tech, MedTech, and Specialty Pharma—contributed to growth, with particularly strong performance in Assistive Tech and MedTech, and the largest margin improvement in Specialty Pharma.

• The group remains focused on acquisitions as a key growth strategy and maintains a strong balance sheet with low leverage.

Financial highlights

• Q1 2026 net sales reached SEK 556.6 million, up 13% year-over-year.

• Adjusted EBITA for Q1 was SEK 109.6 million, up 30% year-over-year; EBITA margin improved to 19.7%.

• EBITDA reached SEK 127.3 million, up from SEK 99.0 million; EBITDA margin was 22.9%.

• Profit after tax was SEK 55.7 million, up from SEK 50.7 million; earnings per share increased to SEK 3.7.

• Net debt/EBITDA at 0.2 (excluding IFRS 16), indicating a strong balance sheet.

Outlook and guidance

• Ambition to pursue further acquisitions and leverage the strong balance sheet for growth.

• Specialty Pharma margin expected to improve in the second half of 2026 and beyond.

• No material impact from external uncertainties observed, but vigilance remains regarding potential cost increases and supply chain risks.