Momentum Group (MMGR) Q2 2026 earnings summary

Executive summary

• Revenue grew 8% year-over-year in Q2 2026 to SEK 886 million, with organic growth mainly from Sweden and strong acquisition contributions.

• EBITA increased 23% to SEK 113 million, with improved margins and higher earnings in both business areas.

• Six acquisitions completed year-to-date, adding approximately SEK 230 million in annual revenue and strengthening market position.

• Organic sales were stable overall, with Denmark remaining weak and Sweden performing well.

• The Nordic business climate improved slightly, with service operations benefiting from delayed maintenance work and project-based sales facing cautious demand.

Financial highlights

• Q2 2026 EBITA rose 23% to SEK 113 million (92), operating profit up 24% to SEK 97 million (margin 10.9%), and net profit reached SEK 70 million (54).

• Earnings per share for Q2 was SEK 1.30 (up 24%).

• For January–June 2026, revenue increased 4% to SEK 1,622 million, EBITA up 9% to SEK 183 million, and net profit up 10% to SEK 108 million.

• EBITA margin improved to 12.8% in Q2 (11.2%) and 11.3% for the half-year (10.8%).

• Return on working capital (EBITA/WC) was 59% (58%), and equity/assets ratio improved to 32% (29%).

Outlook and guidance

• Focus on organic development, margin improvement, and efficiency, with a target of at least 15% annual earnings growth over a business cycle.

• Continued geographic expansion in the Nordics and selective growth beyond.

• Target EBITA of SEK 680 million by end of 2030.

• Nordic industrial sector remains challenging, but gradual improvement is anticipated in several segments.

• Emphasis on earnings growth, strong cash flow, and balance sheet control to enable further value-adding acquisitions.