Nexam Chemical (NEXAM) Q3 2026 earnings summary

Executive summary

• Q3 sales fell 9% YoY to SEK 41.6m, while gross margin improved to 49% from 46%.

• Recycling sales rose 66% YoY to SEK 9.3m; commercial activity also advanced, with 86 material samples shipped and 12 commercial-scale trials conducted.

• Commercial activity and a broader Recycling pipeline are intended to support rapid Reactive Recycling growth and a SEK 300m annual sales run rate ambition.

Financial highlights

• Q3 net sales were SEK 41.607m versus SEK 45.499m; Jan–Sep sales were SEK 145.522m versus SEK 149.082m.

• Q3 gross margin was 49% versus 46%; operating loss was SEK 6.610m versus SEK 3.290m, and loss before tax was SEK 6.905m versus SEK 3.884m.

• Q3 EBITDA was negative SEK 2.546m versus positive SEK 0.761m; Q3 net loss was SEK 6.864m versus SEK 3.890m.

• Jan–Sep net loss was SEK 13.264m versus SEK 11.282m; basic and diluted EPS was negative SEK 0.10 versus negative SEK 0.13.

Outlook and guidance

• Sales within High Temperature are expected to remain affected by a major customer’s inventory adjustment until its anticipated completion by year-end.

• The stated ambition is to grow Reactive Recycling sales at a very high rate and reach an annual sales run rate of SEK 300m; conversion requires more validations, approvals and serial production customers.