Studsvik (SVIK) Q2 2026 earnings summary

Executive summary

• Q2 2026 sales reached SEK 247 million, growing 9.2% year-over-year, with all business areas contributing.

• Adjusted operating profit was SEK 14.3 million (5.8% margin), impacted by one-off costs from the KNXT acquisition and incentive programs.

• Acquisition of Kärnfull Next (KNXT) completed, strengthening the new build nuclear market position and project development capabilities.

• Strategic investments continued in sales, product, and service development, with expansion in the US and Nordic markets.

• Software solutions gained traction in the US, with the first advanced reactors contract and expanded NRC approval.

Financial highlights

• Q2 net sales: SEK 247 million (up 9.2% year-over-year); adjusted operating profit: SEK 14.3 million; reported operating profit: SEK 9.2 million, impacted by SEK 5.1 million in one-off costs.

• Free cash flow was negative SEK 59.6 million, mainly due to the KNXT acquisition (SEK -34.1 million) and changes in working capital.

• Net debt at quarter-end: SEK 138.9 million, up from SEK 118.7 million; equity/assets ratio: 39.1%.

• Earnings per share Q2: SEK 0.89; equity per share: SEK 52.02.

Outlook and guidance

• Cash flow and working capital management remain key priorities, with continued investments in growth areas and disciplined project execution.

• Strategic focus on long-term operations, new build, and advanced nuclear technologies, with ongoing investments in sales, business development, and product innovation.

• DRPS margins at 7% are considered sustainable, barring volatility from staffing or project mix.

• Ongoing investments in Scandpower and BlackStarTech will continue through 2026 to drive long-term growth.