Nordrest (NREST) Q3 2026 earnings summary

Executive summary

• Q3 net sales reached a record 663 MSEK, up 13.4% YoY with 14.0% organic growth; EBITA was 75 MSEK and the margin rose to 11.2% from 10.5%.

• Jan–Sep net sales increased 19.7% to 2,092 MSEK, with 13.9% organic growth; EBITA rose 27.2% to 227 MSEK and the margin reached 10.8%.

Financial highlights

• Q3 EBIT was 64 MSEK vs. 50 MSEK, after 11 MSEK of intangible amortization; Jan–Sep EBIT was 192 MSEK vs. 157 MSEK, with amortization of 35 MSEK vs. 21 MSEK, mainly following the Orifo ApS acquisition.

• Diluted EPS was 3.44 SEK in Q3 vs. 2.46 SEK and 10.19 SEK for Jan–Sep vs. 8.95 SEK.

• Q3 EBITDA was 84.5 MSEK vs. 69.3 MSEK; Jan–Sep EBITDA was 256.2 MSEK vs. 202.1 MSEK.

Outlook and guidance

• Medium-term targets for the next 3–5 years: organic growth above 10%, EBITA margin of 8–10%, and net debt/EBITDA below 2.0x.

• Dividend target is above 50% of earnings after tax attributable to parent shareholders; it may differ due to larger acquisitions and/or investments.

• Financial capacity supports organic and acquisition-led growth, new brand concepts and continued expansion.