SinterCast (SINT) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was SEK 25.0 million, down 8% year-over-year, mainly due to an 11% negative currency impact; on a constant currency basis, revenue increased by SEK 0.6 million.

• Recurring revenue accounted for 96.6% of total revenue, with series production at 3.0 million Engine Equivalents, up 4% for passenger vehicles and 10% for off-road equipment, but down 10% for commercial vehicles.

• Operating result was SEK 6.3 million, a 38% decrease year-over-year, reflecting lower revaluation effects from hedge contracts and foreign currency receivables.

• Earnings per share were SEK 0.73, down from SEK 1.08 in Q1 2025.

• Cashflow from operations was SEK 5.7 million, compared to SEK 12.2 million in the prior year.

Financial highlights

• Gross margin remained stable at 69.6% (69.3% in Q1 2025), supported by lower cost of goods sold despite increased direct material costs.

• Result for the period after tax was SEK 5.1 million, down from SEK 7.6 million year-over-year.

• Liquidity at quarter-end was SEK 10.5 million, with an additional SEK 20.0 million overdraft facility.

• No loans outstanding as of 31 March 2026.

Outlook and guidance

• Market recovery is expected to continue, with pent-up demand and new high-volume commercial vehicle programs starting in late 2026 and early 2027.

• Long-term outlook targets eight million Engine Equivalents by 2031, with revenue expected to exceed SEK 200 million.

• Internal combustion engines are projected to remain dominant in heavy-duty and pick-up sectors through 2050.

• SinterCast is actively exploring acquisition opportunities to leverage its expertise and drive growth.