Proact IT Group (PACT) Q2 2026 earnings summary

Executive summary

• Revenue grew 9.8% year-over-year to SEK 1,286 million, with organic growth of 8.1% and contributions from acquisitions.

• Adjusted EBITA increased 38.3% to SEK 105 million, with margin expanding to 8.2% from 6.5% last year.

• All business units except the U.K. showed revenue growth, with West and Central returning to profitability after cost-efficiency measures.

• Strategic partnership with Truesec enhances cybersecurity offerings.

• Divestment of the Netherlands staffing business and acquisition of Consular contributed to strategic focus.

Financial highlights

• System sales grew 16.1% year-over-year to SEK 744 million, mainly driven by price increases.

• Recurring revenue reached SEK 444 million in Q2, with annualized recurring revenue at SEK 1,774 million, 37% of total revenue.

• Earnings per share improved to SEK 2.47 from SEK 0.89 year-over-year.

• Cash flow from operations Q2: SEK 107 million; total cash at period end: SEK 475 million.

• Adjusted EBITA margin improved to 8.2% from 6.5% last year.

Outlook and guidance

• Memory prices and delivery times are expected to remain elevated through at least 2027, impacting system sales timing.

• Q4 may be weaker due to extended delivery times, but underlying demand and positive momentum are expected to continue.

• Focus remains on growing recurring revenue, hybrid cloud, security, and AI infrastructure.