Silex Microsystems (SILEX) Q3 2026 earnings summary

Executive summary

• Q3 net sales rose 21.7% YoY to SEK 413m; EBIT was SEK 148m at a 35.8% margin, and net profit reached SEK 130m.

• 9M net sales grew 20.2% to SEK 1,181m; adjusted EBIT was SEK 416m with a 35.2% margin.

• Growth was led by Telecom, Life Science and Medical Technology, North America, and development projects.

• Commercial interest increased following the U.S. manufacturing expansion announcement, including in Telecom, Life Science, defense and aerospace.

Financial highlights

• Q3 currency-adjusted sales growth was 22.0%; total revenue was SEK 457m, up 29.8%.

• Q3 EBIT was SEK 148m versus SEK 108m; adjusted EBIT was SEK 148m versus SEK 110m, with no non-recurring adjustments in the quarter.

• Q3 net profit rose to SEK 130m from SEK 81m; diluted EPS was SEK 1.12 versus SEK 0.85.

• 9M net profit was SEK 337m versus SEK 179m; diluted EPS was SEK 3.05 versus SEK 1.98.

• Q3 operating cash flow was SEK 145m; operating expenses increased SEK 66m YoY amid higher activity and workforce growth, while FX affected EBIT by ~SEK 12m.

Outlook and guidance

• No forward guidance; management cited high demand and expected continued growth in Sweden.

• Targets excluding the U.S. fab include SEK 2.5bn sales by 2030, medium-term EBIT margin above 30%, and net debt/EBITDA below 2x.

• U.S. fab EBIT breakeven is targeted for 2029–2030; by 2034, revenue and profitability are targeted to match the Swedish 200 mm fab’s 2025 levels.

• Järfälla expansion is expected to add up to 35% production capacity, with production start planned for Q2 2027.

• Management sees potential for margins above historical levels amid demand from semiconductors, AI and life science.