Prevas (PREV) Q3 2026 earnings summary

Executive summary

• Q3 returned to positive organic growth after six quarters of decline, with 0.5% growth and net sales of MSEK 357.0.

• EBITA was MSEK 30.1 at an 8.4% margin; operational improvements supported stronger performance in Sweden and Denmark and positive EBITA in Finland.

Financial highlights

• Q3 net sales were MSEK 357.0 vs. MSEK 355.2 YoY; organic growth was 0.5% vs. -1.2%.

• EBITA was MSEK 30.1 vs. MSEK 30.0 YoY, with an 8.4% margin in both periods; higher-value work, utilization and efficiency supported results.

• Q3 EBIT was MSEK 26.5 vs. MSEK 26.1, EBITDA was MSEK 41.1 at an 11.5% margin, and profit was MSEK 17.3 vs. MSEK 17.7.

• Q3 diluted EPS was SEK 1.37 vs. SEK 1.34; operating cash flow was MSEK 31.9 vs. MSEK 21.3.

• 9M sales declined 0.6% to MSEK 1,188.0; EBITA was MSEK 81.0 including MSEK 11.8 restructuring costs, or MSEK 92.8 excluding them. 9M diluted EPS was SEK 3.44 vs. SEK 3.82.

Outlook and guidance

• Priorities include increasing sales and utilization, controlling costs and converting demand in growth areas into profitable organic growth.

• Improving Finland’s profitability remains a focus; recruitment will target concrete demand in EAM, cybersecurity, defense and engineering/project management.

• Delayed Finnish defense projects are underway and expected to support Q4 performance positively; no forecast was given for their sales or margin impact.

• Management considers a 10% group EBITA margin realistic but gave no timing; financial targets remain at least 12% EBITA margin and 10% annual net sales growth over time.

• Net debt/EBITDA R12 is expected to remain well below the target ceiling of 2 in coming quarters.