Qflow (QFLOW) Q2 2026 earnings summary

Executive summary

• Net sales for Q2 2026 reached SEK 640 million, up 64% year-over-year, with organic growth of 15%.

• EBITA increased to SEK 46 million from SEK 26 million, and adjusted EBITA reached SEK 80 million.

• The group expanded to 37 specialist companies, entering the UK market and strengthening its Nordic presence through acquisitions.

• The bond framework was increased to SEK 1,600 million, with an additional SEK 400 million issued.

Financial highlights

• Q2 2026 net sales: SEK 640 million (Q2 2025: SEK 390 million); organic growth 15%.

• EBITA: SEK 46 million (Q2 2025: SEK 26 million); adjusted EBITA: SEK 80 million (Q2 2025: SEK 50 million).

• Adjusted EBITA margin stable at 13%.

• Net profit for Q2: SEK 1 million (Q2 2025: SEK -3 million).

• Cash flow from operating activities: SEK 45 million (Q2 2025: SEK 3 million).

Outlook and guidance

• Continued focus on acquisition-driven and organic growth, with a strong pipeline in existing and new markets.

• Market conditions remain stable, with strong demand in infrastructure and public sector projects.

• Positive recruitment trends support future growth.