Prevas (PREV) Q2 2026 earnings summary

Executive summary

• Revenue for Q2 2026 was SEK 405.1 million, a 0.9% decrease year-over-year, reflecting a cautious market and internal restructuring.

• Adjusted EBITDA/EBITA was SEK 23.1 million (5.7%), impacted by SEK 8 million in restructuring costs and negative performance in Finland due to market weakness and postponed projects.

• Operational improvements included merging and closing units in Sweden, workforce adaptation, and restructuring measures to address underperformance in Finland.

• Growth observed in defense, AI-based vision systems, embedded software, enterprise asset management, and smart production, with strong demand and order intake.

• Improved cost structure, higher utilization, and secured orders provide a strong foundation for the second half of 2026.

Financial highlights

• Net sales for Q2 were SEK 405.1 million, down from SEK 408.8 million last year; H1 net sales were SEK 830.9 million, down 1.0%.

• Adjusted EBITA/EBITDA was SEK 23.1 million (5.7% margin); reported EBITA/EBITDA was SEK 15.1 million (3.7% margin), both impacted by SEK 8 million in restructuring costs.

• EPS was SEK 0.50 in Q2 (prior year 0.73); H1 EPS was SEK 2.07 (prior year 2.48).

• Operating cash flow was SEK 42 million in Q2, down from SEK 49.6 million year-over-year; H1 operating cash flow was SEK 52.8 million.

• Cash at quarter-end was SEK 1 million (vs. SEK 70 million last year); SEK 24 million drawn from SEK 100 million overdraft facility.

Outlook and guidance

• Actions to increase efficiency and profitability are expected to yield results in the second half of 2026, especially in Finland.

• Market signals are positive in defense, cybersecurity, and life science, with Swedish and European PMI indicating potential growth.

• The order backlog increased, providing a stronger starting point for H2 2026.

• No significant restructuring costs expected in the second half of 2026.

• Agile and efficient organization in place to capitalize on market opportunities.