Soiltech (STECH) Q3 2026 earnings summary

Executive summary

• Q3 revenue was NOK 131.7m, up 30% YoY; adjusted EBITDA rose 61% to NOK 38.6m and profit before tax increased 119% to NOK 21.1m.

• High activity, operational efficiency and 100% commercial uptime supported improving margins; strong visibility supports capacity investment for growth from 2027.

Financial highlights

• Q3 adjusted EBITDA margin was 29% versus 24% YoY; gross margin was 44% versus 39% and profit-before-tax margin was 16% versus 9%.

• Q3 operating profit was NOK 27.3m versus NOK 15.3m; net profit was NOK 16.4m versus NOK 7.5m, and basic EPS was NOK 1.84 versus NOK 0.92.

• 9M revenue was NOK 363.4m, up 21%; adjusted EBITDA was NOK 98.8m, up 44%, with a 27% margin versus 23%.

• 9M profit before tax was NOK 48.1m versus NOK 28.5m; net profit was NOK 37.5m versus NOK 22.2m, and basic EPS was NOK 4.34 versus NOK 2.76.

• 9M gross margin was 43% versus 38%; profit-before-tax margin was 13% versus 10%.

Outlook and guidance

• Q4 revenue is expected to be in line with Q3, subject to awarded-contract start-ups; some revenue is expected to shift into January.

• Solid growth is expected in 2027 versus 2026, supported by backlog, market visibility, operational reputation and client demand.

• NOK 1bn revenue in 2030 remains a stretch target; no specific annual growth rate was provided.

• Further margin improvement is expected from SG&A scale benefits and personnel utilization; international expansion aims to preserve margins through cost adaptation.