Elekta (EKTA) Q3 2026 earnings summary

Executive summary

• Solid quarter with 2% net sales growth at constant currency, driven by Europe and China, but reported sales declined by 10% due to currency effects.

• Strong commercial momentum in Europe and China, with the U.S. showing double-digit order growth year-to-date but negative sales growth in Q3.

• SEK 417 million restructuring charge recognized, with over 80% of planned changes executed and annual cost savings expected to exceed SEK 500 million.

• Product launches, especially Evo in the U.S. and China, supported improved gross margin despite FX and tariff headwinds.

• Focus on innovation, localization in China, and commercial execution in the U.S. as key strategic priorities.

Financial highlights

• Net sales increased by 2% year-over-year in constant currency, reaching SEK 4,239 M; reported sales declined by 10% due to FX.

• Adjusted gross margin improved to 38.3% (from 37.1%), aided by product launches and pricing, despite FX and tariff headwinds.

• Adjusted EBIT margin rose to 11.9% (from 11.7%), with EBIT at SEK 504 M.

• Cash flow after continuous investments was SEK 255 M for Q3, with year-to-date improvement of SEK 443 M; net debt decreased to SEK 3,819 M.

• Adjusted EPS was SEK 0.88 (down from SEK 0.94 year-over-year); net income dropped to SEK 12 M (from SEK 336 M).

Outlook and guidance

• Full-year 2025/26 outlook reiterated: net sales expected to grow year-over-year in constant currency.

• Continued negative impact on earnings from FX and tariffs anticipated.

• Midterm targets include gross margin returning to pre-pandemic levels and EBIT margin reaching 14% or higher.

• Full run-rate cost savings from restructuring expected in Q1 2026/27.