Nordisk Bergteknik (NORB) Q3 2026 earnings summary

Executive summary

• Q3 net sales were SEK 837.9m, flat YoY; adjusted EBIT rose to SEK 32.9m and adjusted EBIT margin to 3.9%.

• Nine-month sales rose 4% to SEK 2,633.2m and adjusted EBIT reached SEK 105.2m; Q3 and nine-month profit fell amid higher net financial costs.

Financial highlights

• Q3 adjusted EBITDA was SEK 107.0m versus SEK 106.7m; adjusted EBIT was SEK 32.9m versus SEK 30.2m.

• Q3 reported EBIT rose to SEK 30.9m from SEK 24.1m, while profit fell to SEK 3.5m from SEK 10.4m; diluted and basic EPS was SEK 0.06 versus SEK 0.18.

• Nine-month adjusted EBITDA increased to SEK 335.3m from SEK 327.6m; adjusted EBIT was SEK 105.2m.

• Q3 operating cash flow was SEK 37.0m versus negative SEK 7.5m; nine-month cash flow rose to SEK 160.7m from SEK 62.5m.

Outlook and guidance

• Targets include annual growth above 15% over a business cycle, medium-term adjusted EBIT margin above 7%, and net debt/adjusted EBITDA no higher than 2.5x.

• Dividend policy targets distribution of 40% of consolidated net income over time, subject to M&A and growth opportunities, financial position and cash conversion.

• Rock Norway and Foundation Sweden prioritize profitability and selective bidding; conditions for a profitable Q4 in Foundation Sweden were considered good.

• Long-term growth plans include synergies, value-chain integration, geographic expansion and disciplined acquisitions; current market conditions have slowed organic growth and M&A.