NFO Drives (NFO) Q2 2026 earnings summary

Executive summary

• Net sales for H1 2026 declined to SEK 7.1 million from SEK 13.7 million year-over-year, mainly due to the loss of the largest customer.

• EBIT improved to SEK -1.9 million from SEK -3.8 million year-over-year, as prior period included significant one-time costs.

• Launch of a new 11 kW frequency converter completed the product range, enhancing competitiveness and market offering.

• Production of key product lines now fully in-house, improving quality control.

Financial highlights

• Q2 2026 net sales were SEK 3.8 million, down from SEK 5.5 million in Q2 2025.

• Gross margin rose to 33.9% in Q2 2026 from 26.9% in Q2 2025, despite lower sales.

• Result before tax for H1 2026 was SEK -1.8 million, an improvement from SEK -3.9 million year-over-year.

• Cash flow for H1 2026 was SEK -2.5 million, compared to SEK -4.6 million in H1 2025.

• Equity at June 30, 2026, was SEK 8.6 million.

Outlook and guidance

• Management maintains a cautious outlook due to weak start of 2026 but is optimistic given positive customer response to new products.

• Gross margin expected to strengthen further as older product models are phased out.