XANO Industri (XANO) Q2 2026 earnings summary

Executive summary

• Revenue for the interim period decreased by 2% year-over-year to SEK 1,740 million, with operating profit down 17% to SEK 133 million and net profit at SEK 82 million.

• Operating margin for the period was 7.6%, below the long-term target of 12%, impacted by higher costs and a less favorable business mix.

• Growth in the quarter was driven by the acquisition of Veldkamp, while organic growth remained negative.

• Efficiency measures, cost control, and a focus on recurring revenue streams are ongoing to strengthen resilience.

Financial highlights

• Q2 net revenue rose 3% year-over-year to SEK 905 million, but operating profit fell 11% to SEK 69 million.

• Interim period (H1) net revenue was SEK 1,740 million (down from SEK 1,773 million), operating profit SEK 133 million (down from SEK 160 million), and net profit SEK 82 million (down from SEK 93 million).

• Earnings per share for H1 were SEK 1.38 (vs. 1.57 last year).

• Cash flow from operating activities was negative at SEK -26 million (vs. SEK 148 million positive last year), mainly due to lower profits and higher capital tied up in projects.

Outlook and guidance

• Market conditions remain cautious, with delayed investment decisions and weak project order intake.

• Positive trends are seen in defence and infrastructure contracts, and after-sales services are contributing to stability.

• No significant improvement is expected in major automation projects in the short term.

• The updated long-term EBIT margin target is 12%.