Adtraction Group (ADTR) Q1 2026 earnings summary

Executive summary

• Net sales/revenue grew by 12% year-over-year to SEK 314.7 million (or 11.5% to 314.7 MSEK), with gross profit up 12% to SEK 60.2 million, driven by organic and acquired growth, notably from Affiliate Future.

• EBITDA/EBITA increased by 28% year-over-year to SEK 13.5 million, reflecting strong operating leverage.

• Cash flow from operations reached SEK 11.5 million, with a net cash position of SEK 133.7 million at quarter-end.

• Growth was robust in Sweden, Italy, Poland, Finland, Germany, and the UK, while Spain and Switzerland saw declines; both organic and acquired contributions drove results.

• Dividend of SEK 1.1 per share approved, with the first tranche paid and the second scheduled for October.

Financial highlights

• Net sales: SEK 314.7 million (+12% year-over-year); would have been +15% at fixed exchange rates.

• Gross profit: SEK 60.2 million (+12% year-over-year), including SEK 3 million from Affiliate Future.

• EBITDA/EBITA: SEK 13.5 million (+28% year-over-year), with SEK 1.5 million from Affiliate Future.

• Adjusted net result per share: SEK 0.80 (+36% year-over-year).

• Operating cash flow: SEK 11.5 million; total cash flow: SEK 10 million; net cash position at SEK 133.7 million.

Outlook and guidance

• Q2 growth so far is in line with Q1; gross profit growth expected to continue, including Affiliate Future.

• New pricing and service model to be introduced in Q2 to serve a broader client base.

• Organizational changes will result in one-off costs in Q2, followed by cost reductions.

• Swedish financial regulation changes expected to impact the finance vertical, but market adaptation anticipated.

• M&A opportunities are emerging despite earlier expectations of a slower market.