Volati (VOLO) Q3 2026 earnings summary

Executive summary

• Q3 net sales rose 12% to SEK 1,176m, driven by acquisitions, while organic sales declined 3%; EBITA before items affecting comparability rose 15% to SEK 87m, versus reported EBITA of SEK 58m.

• Ettiketto, Communication and Corroventa grew earnings; S:t Eriks and Tornum remained under pressure from weaker demand.

Financial highlights

• Q3 net sales were SEK 1,176m (1,051); reported EBITA was SEK 58m (76), including SEK 29m of items affecting comparability.

• Q3 EBITDA was SEK 115m (124), EBIT was SEK 33m (55), profit after tax was SEK 11m (29), and continuing-operations EPS was SEK -0.07 (0.15).

• 9M net sales rose 9% to SEK 3,531m, while EBITA fell 28% to SEK 191m and profit after tax fell 50% to SEK 53m.

• Q3 operating cash flow increased to SEK 55m (40); 9M operating cash flow rose to SEK 148m (106), primarily on lower working capital.

Outlook and guidance

• Seasonally strong year-end cash flow is expected to reduce leverage over coming quarters; acquisition activity will be balanced against leverage.

• German production-consolidation savings at Ettiketto are expected from Q1 2027; Swedish efficiencies are already evident, with margin improvement expected gradually.

• Acquisition opportunities remain attractive in Ettiketto, Communication and Corroventa; profitability improvement remains the focus in S:t Eriks and Tornum.