Siljansvik (SIVI) Q3 2026 earnings summary

Executive summary

• Jan–Sep EBT rose to SEK 100.3m from SEK 57.8m; net income was SEK 86.7m vs SEK 63.3m. Portfolio-company contribution strengthened and capital investments performed well.

• Q3 EBT was SEK 21.6m vs SEK 28.7m, with the prior-year quarter including SEK 42.2m in realized gains from restructuring transactions.

• The August acquisition of 51% of Kalmar Energi Försäljning advanced the local-partnership strategy and was the main reason Q3 revenue increased.

Financial highlights

• Q3 revenue was SEK 69.3m vs SEK 9.2m; Jan–Sep revenue was SEK 109.9m vs SEK 21.7m, primarily reflecting consolidation of Kalmar Energi Försäljning from August.

• Q3 net income was SEK 18.8m vs SEK 32.8m; Jan–Sep net income was SEK 86.7m vs SEK 63.3m.

• Jan–Sep financial income was SEK 77.1m vs SEK 31.4m; much of the capital-portfolio result reflected unrealized valuation changes, which may vary and are not recurring earnings.

• Operating cash flow was SEK 114.1m for Jan–Sep vs an outflow of SEK 91.0m; period-end consolidated cash and cash equivalents were SEK 1,014.3m.

Outlook and guidance

• The higher electricity-price level is expected to persist through winter; renewed electrification and substantial grid investment needs offer opportunities for portfolio businesses.

• Regulatory-method changes for electricity networks may affect investment conditions and future profitability; long-term, predictable rules are viewed as important.

• Dialogue on long-term structural solutions with municipalities may strengthen from mid-2027 and over the following two years, subject to political formation and locally anchored processes.