Ambea (AMBEA) Q1 2026 earnings summary

Executive summary

• Net sales increased 16% year-over-year in Q1 2026 to SEK 4,220 million, with 13% from acquisitions and 4% organic growth, driven by new care homes and a strong contract pipeline.

• Adjusted EBITA rose 24% to SEK 380 million, with margin improving to 9.0% from 8.4% last year.

• Profit for the period was SEK 165 million, up 42% year-over-year, and EPS before dilution increased to SEK 2.03 from SEK 1.39.

• Share buyback program of two million shares was completed.

• Maintained focus on quality, leadership, and employee engagement, launching the MiraQ group-wide quality management system.

Financial highlights

• Revenue reached SEK 4,220 million in Q1 2026, up from SEK 3,644 million in Q1 2025.

• Adjusted EBITA margin improved to 9.0% (from 8.4%), with rolling twelve-month margin at 9.7%.

• Free cash flow was SEK 199 million, down from SEK 262 million, mainly due to working capital variations.

• Operating cash flow in line with Q1 last year; rolling twelve-month cash conversion above 91%.

• Adjusted EPS reached 10.76 (LTM after dilution), and reported EPS grew by 45% year-over-year.

Outlook and guidance

• Expect continued strong organic and acquired growth, with a robust pipeline of new care places and ongoing expansion in Child Welfare within Validia.

• Margin improvements anticipated in Stendi in H2 2026; full-year margins expected above last year.

• Ongoing investments in people, systems, and new care homes to support growth ambitions.

• Maintain financial targets: growth above 8–10%, EBITDA/EBITA margin above 9.5%, leverage below 3.25x.

• Operational improvements and integration of recent acquisitions expected to support future earnings.