Mycronic (MYCR) Q1 2026 earnings summary

Executive summary

• Q1 achieved record net sales of SEK 2,503 million, up 17% year-over-year, and record EBIT of SEK 938 million with a 37% margin, driven by strong growth in High Volume and Global Technologies.

• Order intake rose 23% to SEK 2,529 million, with all divisions posting sales increases.

• Two acquisitions completed: ETZ (Germany, PCB Test) and Cowin DST (South Korea, Pattern Generators), expanding technology and market reach.

• The Board raised 2026 net sales guidance from SEK 8.25 billion to SEK 8.75 billion.

• All divisions contributed to growth, with significant aftermarket revenue and a robust backlog.

Financial highlights

• EBIT margin reached 37% for Q1, up from 36% last year; rolling 12-month EBIT margin at 25%.

• Aftermarket revenue for Q1 was SEK 525 million; rolling 12 months aftermarket revenue at SEK 1,971 million.

• Net cash position at quarter-end was SEK 2,321 million; cash and equivalents at SEK 2,722 million.

• Cash flow for the quarter was SEK 362 million; cash flow from operations before working capital changes was SEK 944 million.

• Book-to-bill ratio remained at 1.0.

Outlook and guidance

• 2026 net sales guidance increased to SEK 8.75 billion, reflecting strong order intake and demand in High Volume and Global Technologies.

• Electronics industry expected to grow 8% in 2026; semiconductor market forecast to rise 29.8%.

• Demand in Pattern Generators normalized after a peak in 2023–2024 but remains solid globally.

• High Volume and Global Technologies expected to maintain elevated demand levels.