Proact IT Group (PACT) CMD 2026 summary

Strategy and market opportunity

• Critical-data infrastructure platform spanning storage, networking, compute and cybersecurity, operating in 12 countries with ~2,000 customers, ~1,100 specialists and ~SEK 5bn revenue.

• Demand is supported by rising data volumes, AI, cyber risk, sovereignty and regulatory requirements; memory prices are expected to remain high through 2027 and beyond.

• Organic growth, operational efficiency and selective M&A underpin the 2030 plan; organic growth is the priority, supported by portfolio focus, packaged platforms and recurring services.

• Organic growth ambition is at least 5% p.a.; M&A is focused on disciplined niche deals, strategic and cultural fit, with sales synergies first and integration shaped by customer and operational fit.

• BUILD (2015–2023) lifted adjusted EBITA margin from 5.0% to 6.2%; REFINE (2024–Q3 2026) raised rolling-12-month margin from 6.8% to 8.5%.

Financial performance and targets

• R12 Q3 2026 revenue was SEK 4,917m, up 4% YoY; adjusted EBITA was SEK 417m, up 34%, and adjusted EBITA margin was 8.5%, up 1.9 pp YoY.

• Annual recurring revenue from support and managed services was close to SEK 1.8bn, up 43% since 2021; ROCE was 16.8%, up 5.3 pp on 2025, and net debt was 0.0x EBITA.

• 2030 targets: average annual revenue growth of 10%, adjusted EBITA margin of at least 8% over the cycle, and adjusted EPS of at least SEK 20, double the 2025 level.

• Revenue ambition balances ~5% organic growth with ~5% from acquisitions p.a.; the organic-growth target is at least 5% p.a., versus 4.0% rolling-12-month organic growth at Q3 2026.

• Financial guardrails: net debt/EBITDA of 1–2x, ROCE >15%, cash conversion >85% of adjusted EPS and dividends >25% of profit after tax; adjusted EPS excludes acquisition-related intangible amortisation and items affecting comparability.

Regional priorities and operating model

• Nordics and Baltics generated SEK 2.9bn, 58% of revenue, with 7% organic growth and 11.6% R12 adjusted EBITA margin; ambition is mid-single-digit organic growth p.a. and investment in adjacent platform capabilities.

• UK revenue was SEK 716m, down 2% organically, with 6.3% R12 adjusted EBITA margin; priorities include mid-single-digit growth, an 8% margin ambition, hybrid cloud, Azure cross-selling and managed services. BlakYaks adds Azure, Kubernetes and AI capabilities.

• Central recorded SEK 1.4bn revenue, 1% organic growth and 2.7% R12 adjusted EBITA margin; all four countries returned to profit, with SEK 38m adjusted EBITA R12.

• West and Central merge on 1 January 2027; the phased 2027–2028 plan aligns leadership and delivery, optimizes overhead, integrates operations and scales the shared model, prioritizing margin before growth.

• Margin-led management directs units below 5% to fix margin first, units at 5–8% to improve margin while growing, and units above 8% to invest for growth.