Novedo (NOVEDO) Q2 2026 earnings summary

Executive summary

• Net sales grew 18.0% in Q2 2026 year-over-year to SEK 894 million, with organic growth of 10.8% for comparable units.

• EBITA for Q2 was SEK 70 million (margin 7.8%), and EBIT was SEK 54 million.

• For H1 2026, net sales rose 10.7% to SEK 1,558 million, with organic growth of 4.4%.

• Profitability was impacted by harsh winter conditions and one-off project write-downs totaling SEK -35 million.

• The order book at period-end was significantly higher than the previous year, positioning the group well for the second half.

Financial highlights

• Q2 2026 EBITDA: SEK 98 million (margin 11.0%); EBITA: SEK 70 million (margin 7.8%).

• H1 2026 EBITDA: SEK 123 million; EBITA: SEK 70 million (margin 4.5%).

• Cash flow from operating activities in Q2: SEK 10 million; H1: SEK -2 million, affected by seasonal factors and tax adjustments.

• Earnings per share for H1: SEK -8.33 (before/after dilution).

• Equity/assets ratio at -5.2% as of June 30, 2026.

Outlook and guidance

• Gradual improvement in demand and market activity expected to continue through 2026.

• Pricing and profitability in Installation & Services and Infrastructure segments are anticipated to improve as the market recovers.

• Growth supported by infrastructure investment, stabilizing housing construction, and modernization needs.