Novedo (NOVEDO) Q1 2026 earnings summary

Executive summary

• Net sales for Q1 2026 reached SEK 663 million, up 2.2% year-over-year, with organic growth at -3.1% due to harsh winter conditions impacting outdoor work and delaying projects, especially in the Nordic region.

• EBITA dropped sharply to SEK 1 million (from SEK 25 million), with a margin of 0.1% (3.9%), mainly due to SEK -25 million in weather-related costs and SEK -10 million in one-off project write-downs.

• Cash flow from operating activities was negative at SEK -12 million (SEK 73 million last year), reflecting lower profits, tax payments, and working capital changes.

• The Industry segment performed well, while Installation & Services and Infrastructure were most affected by winter conditions.

Financial highlights

• EBITDA for Q1 2026 was SEK 25 million (SEK 50 million), and EBIT was SEK -16 million (SEK 10 million).

• Adjusted EBITDA (excluding non-recurring items) was SEK 34 million (SEK 51 million); adjusted EBITA was SEK 10 million (SEK 27 million).

• Net loss for the period was SEK -96 million (SEK -90 million), with EPS at SEK -5.95 (SEK -5.62).

• Cash and cash equivalents at period end were SEK 458 million (SEK 676 million).

Outlook and guidance

• Management expects gradual market recovery in 2026, with demand varying by geography and segment.

• Long-term growth is anticipated from infrastructure investments and stabilization in housing construction.