Nilsson Special Vehicles (NILS) Q3 2026 earnings summary

Executive summary

• 9M revenue fell 13% YoY to SEK 112.7m, while EBITDA rose to SEK 6.7m from SEK 1.2m and net income reached SEK 4.7m versus a SEK 1.0m loss.

• Q3 revenue declined 7% YoY to SEK 36.6m, but EBITDA increased to SEK 2.9m from SEK 1.1m; gross margin improved to 29% from 21%.

• Orders strengthened: 61 vehicles ordered in 9M versus 36, with a period-end order backlog of SEK 96.1m.

Financial highlights

• 9M net sales were SEK 112.668m versus SEK 128.883m; Q3 sales were SEK 36.577m versus SEK 39.500m, with lower volumes cited as the main driver.

• 9M EBIT was SEK 5.271m versus a SEK 0.236m loss; Q3 EBIT was SEK 2.380m versus SEK 0.622m.

• 9M net income was SEK 4.697m versus a SEK 1.046m loss; Q3 net income was SEK 2.192m versus SEK 0.373m.

• 9M operating cash flow was SEK 1.306m versus an outflow of SEK 2.661m; Q3 operating cash flow was SEK 2.801m versus an outflow of SEK 4.881m.

Outlook and guidance

• Strategy remains profitability over volume, with continued focus on purchasing terms, supplier cooperation, production efficiency, cost control and maintaining quality and warranty commitments.

• Priorities for Q4 include strengthening profitability, improving operational efficiency and developing new products; no numeric earnings guidance was stated.

• A new rented production facility is in preparation, intended to improve production flows and the work environment.