Soiltech (STECH) Q2 2026 earnings summary

Executive summary

• Achieved record Q2 2026 results with revenue of NOK 132 million, up 17% year-over-year, and adjusted EBITDA of NOK 36 million, up 34% year-over-year.

• Profit before tax reached NOK 18 million, up from NOK 12 million year-over-year, with margin improvement both sequentially and year-over-year.

• Strong contract portfolio growth, with over 30 ongoing contracts and NOK 200 million in new equipment orders in H1 2026 to support future growth.

• Enhanced financial flexibility through an increased bank facility of NOK 150 million post-quarter.

• Growth driven by high activity in solid waste management and positive client response to SmartTransfer™ solutions.

Financial highlights

• Q2 2026 revenue: NOK 132 million (+17% YoY); adjusted EBITDA: NOK 36 million (+34% YoY); profit before tax: NOK 18 million (+44% YoY); adjusted EBITDA margin: 27%; profit before tax margin: 13%.

• H1 2026 revenue: NOK 232 million (+17% YoY); adjusted EBITDA: NOK 60 million (+35% YoY); profit before tax: NOK 27 million (+44% YoY).

• Earnings per share for H1 2026 at NOK 2.49, up from NOK 1.84 last year; Q2 EPS was NOK 1.56.

• Gross profit margin for Q2 was 42%, up from 38% YoY; SG&A expenses were 15% of revenue in Q2.

• Return on Capital Employed at 15%; NIBD/EBITDA (12-month rolling) at 2.12.

Outlook and guidance

• Well positioned for continued profitable growth with a strong order backlog and financial position; market visibility remains high in core European markets.

• Q3 2026 revenue expected to be somewhat lower than Q2 due to normal fluctuations, but higher than Q1; Q4 and beyond expected to increase again.

• Middle East market outlook impacted by regional unrest, causing delays and uncertainties in project execution.

• Forward-looking statements subject to risks and uncertainties beyond management control.