Asker Healthcare Group (ASKER) Q1 2026 earnings summary

Executive summary

• Net sales increased 13% year-over-year to SEK 4,521m, with 5% organic and 12% acquired growth, partially offset by a -4% FX effect.

• Adjusted EBITA/EBITDA rose 21% year-over-year to SEK 442m, with 8% organic growth and margin improvement to 9.8%.

• Strong cash flow from operating activities at SEK 419m, supporting two acquisitions and maintaining leverage below 2.5x.

• Two acquisitions completed in Q1 (GHC/MPF and Van Heek Medical), with RMS Medical Devices signed in Q1 and completed in April, strengthening direct-to-patient and homecare segments.

• Robust M&A pipeline and stable leverage provide headroom for continued acquisitions.

Financial highlights

• Net sales for Q1 2026 were SEK 4,521m, up from SEK 3,995m in Q1 2025, with 5% organic growth.

• Adjusted EBITA/EBITDA reached SEK 442m, up from SEK 364m, with margin improving to 9.8% from 9.1%.

• Cash flow from operating activities was SEK 419m, significantly higher than SEK 109m in Q1 2025.

• Return on net working capital (EBITA/NWC) at 67.7%, above the >50% target.

• Dividend proposal of SEK 0.39 per share, representing over 30% of last year's net profit after tax.

Outlook and guidance

• Confident in maintaining above-market growth, targeting 15% annual EBITDA growth, with 5–8% organic and 10–12% from M&A.

• Good visibility for the remainder of 2026 due to stable demand and long-term customer contracts.

• M&A pipeline remains robust, with capacity for continued acquisitions supported by stable leverage and cash flows.