Nordrest (NREST) Q2 2026 earnings summary

Executive summary

• Achieved record Q2 net sales of 723 MSEK, with 16.2% year-over-year growth and 11.8% organic growth, alongside strengthened profitability and improved EBITA margin to 11.2%.

• Focus on contract-based meal solutions for sectors with stable, predictable guest flows, such as defense, healthcare, education, and travel.

• Strategic expansion through new contracts, unit openings, and acquisitions, including a conditional agreement to acquire 51% of Albisabores in Portugal.

• Strong balance sheet with net cash position enables continued organic and acquisition-driven expansion.

Financial highlights

• Q2 net sales: 723 MSEK (up 16.2% year-over-year); H1 net sales: 1,429 MSEK (up 22.8%).

• Q2 EBITA: 81 MSEK (margin 11.2%); H1 EBITA: 152 MSEK (margin 10.6%).

• Q2 EPS before dilution: 3.73 SEK; H1 EPS before dilution: 6.89 SEK.

• Q2 operating cash flow after working capital: 113 MSEK; H1: 176 MSEK.

• Q2 EBITDA: 91 MSEK; H1 EBITDA: 172 MSEK.

Outlook and guidance

• Medium-term targets: organic growth >10%, EBITA margin 8–10%, dividend payout >50% of net profit, net debt/EBITDA <2.0x.

• Business remains on track with medium-term financial targets and plans continued expansion leveraging strong financial position.