Momentum Group (MMGR) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was SEK 736 million, flat year-over-year, with EBITA down 8% to SEK 70 million and net profit at SEK 38 million, reflecting cautious market demand and geopolitical uncertainty.

• Acquisitions contributed positively to earnings and revenue, with two completed in Q1 2026, including entry into the UK market post-quarter.

• Cost control and efficiency measures were prioritized to offset lower organic sales and service volumes.

• Market conditions were cautious, with seasonality and postponed maintenance impacting results.

Financial highlights

• EBITA margin declined to 9.5% from 10.3% year-over-year; operating margin at 7.6%.

• Earnings per share for Q1 was SEK 0.75, down from 0.85 year-over-year; net profit at SEK 38 million.

• Cash flow from operating activities was SEK 57 million, impacted by higher receivables and down from SEK 92 million in Q1 2025.

• Inventory levels decreased by SEK 5 million during the quarter.

• Equity/assets ratio improved to 37% from 33% at the end of the period.

Outlook and guidance

• Short-term market conditions remain challenging due to ongoing geopolitical uncertainty, with customers expected to remain cautious.

• The group is focused on organic development, margin improvement, and efficiency, targeting at least 15% annual earnings growth and EBITA of SEK 680 million by 2030.

• Continued emphasis on value-adding acquisitions and selective geographic expansion beyond the Nordics.