Nolato (NOLA) Q3 2026 earnings summary

Executive summary

• Q3 sales rose 7% to SEK 2,500m; organic growth was 3% excluding currency and acquisitions, which contributed SEK 56m from September 1.

• Adjusted EBITA was SEK 262m versus SEK 274m, with adjusted margin at 10.5% versus 11.7%; input costs, start-up costs and customer model changes weighed on results.

• Medical Solutions led growth; Engineered Solutions faced Automotive weakness and lower Hygiene volumes. Operating cash flow increased to SEK 332m, and leverage was 1.0x adjusted EBITDA.

Financial highlights

• Q3 net sales were SEK 2,500m versus SEK 2,342m; 9M sales were SEK 7,311m versus SEK 7,190m.

• Q3 EBITA was SEK 254m versus SEK 281m; adjusted for acquisition costs and the prior-year insurance gain, EBITA was SEK 262m versus SEK 274m.

• Q3 profit after tax was SEK 172m versus SEK 215m; EPS was SEK 0.64 versus SEK 0.80.

• Operating cash flow increased to SEK 332m from SEK 301m; cash flow after investments, excluding acquisitions and disposals, was SEK 141m versus SEK 118m.

Outlook and guidance

• FY 2026 CapEx is expected at SEK 600m–650m, below SEK 788m in 2025.

• No Q4 raw-material headwind is expected if current conditions persist; the Q2–Q3 lag effect is considered complete absent new pressures.

• Medical project ramp-up costs are expected to continue for some quarters, with gradual improvement; expansion in Hungary and the US is proceeding to plan.

• Automotive headwinds are expected to continue in Q4; outlook beyond Q4 remains uncertain.