NGS Group (NGS) Q1 2026 earnings summary

Executive summary

• Net sales for Q1 2026 were 65 MSEK, a 14% decrease year-over-year, mainly due to a weakened healthcare staffing market driven by political decisions reducing demand from regions.

• EBITA improved to 1.7 MSEK from -0.1 MSEK in Q1 2025, reflecting successful cost control and sales efforts.

• Net income for the period was 2.0 MSEK, up from -0.8 MSEK year-over-year.

• Positive trends in Executive Search, Assessment, Recruitment, and Interim Consultants segments offset declines in healthcare staffing.

• Internal AI projects and a planned office move in Stockholm are expected to further improve efficiency and reduce costs.

Financial highlights

• Net sales: 65 MSEK (down 14% year-over-year).

• EBITA: 1.7 MSEK (up from -0.1 MSEK); EBIT margin: 2.5% (from -0.1%).

• Net income: 2.0 MSEK (from -0.8 MSEK); EPS: 0.08 SEK (from -0.03 SEK).

• Operating cash flow: 4.1 MSEK (from -10.2 MSEK); period-end cash: 2.7 MSEK.

• Investments in tangible assets: 0.2 MSEK.

Outlook and guidance

• Strategic focus on expanding healthcare staffing to new customer groups, including municipalities and private providers, to counteract regional demand decline.

• Continued growth expected in non-healthcare segments despite a weak economic climate.

• Ongoing cost adaptation and digitalization initiatives to support profitability.

• Financial targets: 10% organic and acquired sales growth over time, EBITA margin of 4%, dividend payout of 40-50% of net profit, net debt/equity ratio max 50%.