NFO Drives (NFO) Q1 2026 earnings summary

Executive summary

• Net sales for Q1 2026 declined to SEK 3.3 million from SEK 8.2 million year-over-year, mainly due to the loss of the largest customer.

• EBIT worsened to SEK -1.1 million from SEK -0.6 million, impacted by lower sales and some one-time costs.

• Bruttomarginal improved to 35.2% from 26.5% year-over-year, reflecting operational improvements.

• Cash flow improved to SEK -1.1 million from SEK -3.4 million year-over-year.

• Launch of the 11 kW inverter is on track for early Q2 2026, expanding the product range up to 18.5 kW.

Financial highlights

• Net sales: SEK 3.3 million (Q1 2025: SEK 8.2 million).

• Gross profit: SEK 1.1 million (Q1 2025: SEK 2.2 million).

• EBIT: SEK -1.1 million (Q1 2025: SEK -0.6 million).

• Net result: SEK -1.0 million (Q1 2025: SEK -1.0 million).

• Cash and cash equivalents at period end: SEK 3.3 million (Q1 2025: SEK 8.2 million).

Outlook and guidance

• Business plan from 2025 continues, with full establishment in new facilities and in-house production of all 18.5 kW units.

• Further improvements in gross margin expected as older, costlier product versions are phased out.

• Customer response to new products is positive, supporting confidence in future development.

• Management maintains a cautious stance due to weak start of 2026.