Berner Industrier (BERNER) Q1 2026 earnings summary

Executive summary

• Order intake rose 5.2% year-over-year to SEK 276.3 million, with net sales up 7.3% to SEK 253.3 million, driven by both organic and acquired growth.

• EBITA increased 1.1% to SEK 18.5 million, with a margin of 7.3% (down from 7.7%), and EPS before/after dilution was SEK 0.67 (up from 0.66).

• Two acquisitions were completed: Typhonix AS (water treatment) and a small asset acquisition for Autofric, strengthening the Energy & Environment segment.

• Cash flow from operating activities was SEK 12.1 million, but total cash flow was negative at SEK -12.5 million due to investments and acquisitions.

Financial highlights

• Net sales grew by SEK 17.2 million, with SEK 16.5 million from acquisitions, SEK 2.7 million organic, and SEK -2.0 million from currency effects.

• EBITA margin was 7.3%, and gross margin improved to 40.8% from 40.1% year-over-year.

• Net interest-bearing debt (excl. IFRS 16) was SEK 94.3 million, with a leverage ratio of 0.9x EBITDA R12.

• Return on equity was 17.3%, down from 19.8% year-over-year.

• The Board proposes a dividend of SEK 1.25 per share (up from 0.95).

Outlook and guidance

• Updated financial targets set in February 2026: average revenue growth of at least 10% and EBITA growth of at least 15% per year over a business cycle, with a return on equity target of 25%.

• Management sees continued good underlying demand but notes some customer decision delays and global uncertainty.