Momentum Group (MMGR) Q1 2026 (Q&A) earnings summary

Executive summary

• Revenue for Q1 2026 was SEK 736 million, flat year-over-year, with a 6% decline in organic growth due to cautious demand, geopolitical uncertainty, and seasonality.

• EBITA fell 8% to SEK 70 million, with operating profit at SEK 56 million, as both business areas experienced lower service and project volumes, especially in Denmark.

• Two acquisitions were completed, adding approximately SEK 80 million in annual revenue and marking entry into the UK market.

• Activity improved toward the end of the quarter, but March's stronger finish did not offset a weak start.

Financial highlights

• EBITA margin declined to 9.5% from 10.3% year-over-year, with gross margin improving due to pricing discipline and selective project acceptance.

• Net profit was SEK 38 million, down from SEK 44 million; EPS was SEK 0.75 (0.85).

• Rolling 12-month revenue increased 5% to SEK 3,098 million, with EBITA up 2% to SEK 331 million and net profit up 2% to SEK 190 million.

• Return on working capital (EBITA/WC) was 56% (58% prior year); equity/assets ratio was 37%.

• Available cash and cash equivalents totaled SEK 944 million.

Outlook and guidance

• Short-term market conditions remain challenging due to ongoing geopolitical uncertainty, with customers expected to remain cautious.

• Postponed maintenance is expected to return mainly in Q2 and Q3 as underlying demand remains.

• The group is focused on cost control, sales promotion, and positioning for gradual market recovery, targeting at least 15% annual earnings growth and EBITA of SEK 680 million by 2030.

• Continued investment in sales activities and customer relationships to maintain market position ahead of recovery.