Nolato (NOLA) Q2 2026 earnings summary

Executive summary

• Sales increased to SEK 2,454 million in Q2 2026, with 4% organic, currency-adjusted growth driven by Medical Solutions (+4%) and Engineered Solutions (+3%).

• EBITA was SEK 247 million, down from SEK 277 million year-over-year, with a margin of 10.1%.

• Growth occurred despite increased raw material prices and startup costs for new programs.

• Strong financial position with net financial liabilities to EBITDA at 0.7x and robust cash flow.

• Production of commercial volumes began in a major customer project in Hungary at the end of the quarter.

Financial highlights

• Net sales: SEK 2,454 million, up 4% year-over-year; currency headwinds less severe at 1.5%.

• EBITA: SEK 247 million, margin at 10.1% (down from 11.6% prior year); profit after tax SEK 169 million; EPS SEK 0.63.

• Cash flow from operating activities was SEK 287 million; cash flow after investments SEK 154 million.

• Net investments decreased to SEK 133 million; CapEx for Hungarian expansion mostly paid.

• Equity/assets ratio stable at 57%; net financial liabilities at SEK 1,055 million; leverage at 0.7x EBITA.

Outlook and guidance

• Ongoing growth strategy in Medical Solutions, with major client contracts and commercial production ramping up in Hungary.

• Expansion in Malaysia and Poland expected to create future opportunities; favorable financial position enables intensified M&A agenda.

• Engineered Solutions advancing in consumer electronics and new product areas, supported by Malaysian expansion.

• Remaining raw material cost increases expected to be passed through by early Q3, barring new oil price spikes.

• Gradual margin improvement expected as new projects scale up.