Storskogen Group (STOR) Q1 2026 earnings summary

Executive summary

• Net sales reached SEK 7,851 million in Q1 2026, down 1% year-over-year, with organic growth of 2% offset by FX headwinds and divestments.

• Adjusted EBITA fell 9% to SEK 639 million (margin 8.1% vs. 8.8%), mainly due to margin pressures in Services and FX effects.

• Cash flow from operating activities improved to SEK 188 million from SEK 113 million year-over-year.

• Leverage ratio remained stable at 2.3x, within the target range.

• Portfolio was streamlined with divestments and management changes, and two acquisitions completed in April with combined annual sales of SEK 103 million.

Financial highlights

• Net sales were SEK 7.85 billion, a 1% decline year-over-year; organic sales growth was +2%.

• Adjusted EPS was SEK 0.13, unchanged year-over-year.

• Cash conversion for the last 12 months was 79%, above the 70% target.

• Equity/assets ratio at 50%.

• CapEx to sales ratio: 1.3% in Q1.

Outlook and guidance

• Q2 is expected to be seasonally stronger across all business areas, with early signs of recovery in Services and continued positive trends in Trade and Industry.

• Focus remains on operational excellence, organic growth, profitability improvements, and value-adding acquisitions.

• Management expects margin support in Trade from a stronger SEK in coming quarters.

• Macroeconomic and geopolitical uncertainties, especially in the Middle East, may impact energy prices and logistics.

• Solid M&A pipeline with strong platform cases in Automation, Digitalisation, and Health & Wellbeing.