Alcadon Group (ALCA) Q1 2026 earnings summary

Executive summary

• Achieved improved profitability in Q1 2026, with a fourth consecutive quarter of increasing adjusted EBITA and strong operational cash flow.

• Net sales for Q1 2026 decreased by 10% year-over-year to SEK 345 million, with a 5.3% decrease in constant currency.

• Net debt ratio reduced and working capital efficiency improved, supported by inventory reductions and cost adjustments.

• Performance varied across entities, with strong growth in Ireland and Sweden, but declines in Belgium, Denmark, Norway, and the UK/Netherlands.

• Profit for the period was SEK 10.5 million, up from SEK 8.1 million year-over-year.

Financial highlights

• Net sales for Q1 2026 were SEK 345.4 million, down from SEK 385.6 million in Q1 2025.

• Adjusted EBITA was SEK 24.9 million (7.2% margin), up from SEK 24.7 million (6.4%) year-over-year.

• Gross margin improved to 26.9% from 25.8% year-over-year.

• Operational cash flow reached SEK 30 million, up from SEK 10 million in the prior year.

• Earnings per share increased to SEK 0.43 from SEK 0.33 year-over-year.

Outlook and guidance

• Positive outlook for digitalization-driven segments, especially data centres, despite broadband market saturation in Europe.

• Focus on balancing market fluctuations by expanding offerings and geographies, both organically and through acquisitions.

• Strategic agenda includes ramping up platform acquisitions and stimulating growth in high-performing subsidiaries.

• Subsidiaries are encouraged to pursue growth or improve profitability based on their P/WC performance.

• Broadband market exposure reduced to 20% of revenue.