RVRC (RVRC) Q2 25/26 earnings summary

Executive summary

• Achieved record Q2 net sales of SEK 726 million, up 11% in local currencies and 6% in SEK year-over-year, with all regions contributing to growth and rolling twelve-month sales surpassing SEK 2 billion.

• Adjusted EBIT reached SEK 180 million (24.8% margin), with EBIT at SEK 177 million (24.4% margin), reflecting industry-leading profitability.

• Strong cash flow from operations at SEK 360 million and net cash position of SEK 341 million, supported by robust sales and inventory reduction.

• Dividend per share increased 13% to SEK 1.35, with SEK 143 million distributed and SEK 39 million spent on share repurchases; 3.8 million treasury shares cancelled.

• Continued market share gains and resilience in challenging market conditions, outperforming sector trends.

Financial highlights

• Q2 net sales: SEK 726 million (up 6%); gross profit: SEK 506 million (gross margin 69.8%, down 0.5 pp year-over-year); EBIT: SEK 177 million (up 12%).

• Adjusted EBIT: SEK 180 million (24.8% margin, up from 23.6%); profit for the period: SEK 140 million (up 13%).

• Earnings per share before dilution: SEK 1.30 (up 16%).

• Cash flow from operations: SEK 360 million; net cash position at period end: SEK 341 million.

• Inventory reduced to SEK 494 million from SEK 592 million year-over-year, mainly due to lower volumes.

Outlook and guidance

• No formal guidance provided, but continued sales growth seen in early January and further product launches planned for spring.

• Board targets 20% annual growth and at least 20% adjusted EBIT margin through 2026/27.

• Expectation that a weaker U.S. dollar will gradually benefit gross margin as inventory turns over.

• U.S. market remains a long-term opportunity; logistics being restructured to address new tariffs, with plans to re-enter later in the year.