Stille (STIL) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 22.9% to SEK 170.6 million, with 16.5% organic growth; adjusted profitability and operating cash flow strengthened.

• Rolling 12-month sales reached SEK 711.4 million; improved product availability shortened delivery times and reduced backorders.

Financial highlights

• Q3 revenue was SEK 170.6 million, up 22.9% YoY; constant-currency growth was 21.5%, including 16.5% organic growth.

• EBITDA before non-recurring items rose 29% to SEK 33.7 million; EBIT before non-recurring items rose 42% to SEK 24.5 million.

• Reported EBIT was SEK 28.5 million, compared with SEK 10.2 million in Q3 2025.

• Q3 revenue included SEK 8.9 million from Surgical Holdings; currency translation added SEK 2.1 million.

• Jan-Sep net sales were SEK 536.5 million vs. SEK 392.7 million; operating cash flow was SEK 91.2 million and more than tripled YoY in Q3 to SEK 34.0 million.

Outlook and guidance

• Long-term targets remain 10% organic growth, a 25% EBITDA margin and net debt/EBITDA below 3x.

• Backorders remained elevated but declined in Q3; further reduction is expected in Q4.

• Priorities include scaling instrument supply, strengthening commercial execution and customer access, and extending imagiQ3 momentum.

• Surgical Tables growth of ~30% in 2026 is not expected to repeat in 2027; further growth and share gains remain the aim.