Nurminen Logistics (NLG1V) Q3 2026 earnings summary

Executive summary

• Q3 net sales rose 10.4% YoY to €26.3m, led by international rail and Baltic growth; the period ended with a €3.2m net loss.

• International expansion supported growth while lower Finnish rail volumes, launch costs and financing charges weighed on profitability.

Financial highlights

• Q3 net sales were €26.3m vs €23.8m; 9M net sales were €80.0m vs €84.2m.

• Q3 EBITDA was €2.3m vs €5.5m; comparable EBITDA was €3.6m vs €5.9m.

• Q3 comparable EBITA was €1.8m vs €3.8m; reported EBITA was €0.6m vs €3.4m.

• Q3 operating result was €0.4m vs €3.2m; net loss was €3.2m vs €1.6m net income, and EPS was -€0.04 vs €0.01.

• 9M comparable EBITA was €8.3m vs €14.6m; operating cash flow was €2.1m vs €14.1m.

Outlook and guidance

• FY 2026 net sales are expected at the comparison-period level or slightly lower; comparable operating profit is expected significantly lower YoY but to remain at a good profitability level.

• Spain–Sweden traffic is progressing to plan, with service launch targeted for early 2027.