Nederman (NMAN) Q3 2026 earnings summary

Executive summary

• Q3 orders rose 11.8% currency neutral to SEK 1,414m, with growth across all four divisions; Process Technology orders increased 31.9%.

• Sales were SEK 1,420m, down 1.7%; adjusted EBITA was SEK 131.1m and margin was 9.2%, versus 11.6% a year earlier.

• Strong order intake, backlog and pipeline support expectations for higher volumes and profitability toward year-end, though broad demand recovery remains uncertain.

Financial highlights

• Q3 orders were SEK 1,414m versus SEK 1,251m; sales were SEK 1,420m versus SEK 1,434m, with no currency or acquisition contribution to organic growth.

• Q3 operating profit was SEK 103.5m versus SEK 137.9m; net profit was SEK 59.1m versus SEK 79.3m, and EPS was SEK 1.68 versus SEK 2.27.

• 9M orders were SEK 4,162m, up 3.4% currency neutral; 9M sales were SEK 4,039m, down 2.5% currency neutral.

• 9M adjusted EBITA was SEK 362.2m versus SEK 467.5m; net profit was SEK 158.8m versus SEK 207.9m, and EPS was SEK 4.53 versus SEK 5.94.

• Q3 operating cash flow was SEK 135.3m versus SEK 123.2m; 9M operating cash flow was SEK 184.6m versus SEK 197.6m.

Outlook and guidance

• Improved orders in recent quarters, a solid backlog and promising pipeline support expectations for a strong finish to 2026 and higher Q4 volumes and profitability.

• Extraction & Filtration Technology expects a significantly stronger Q4; Process Technology backlog supports stronger Q4 sales YoY, while its largest recent order will mainly contribute next year.

• A broad demand recovery remains difficult to forecast; improved economic conditions in focus markets could support further profitability gains. A weaker krona may benefit earnings if current exchange rates persist.