Studsvik (SVIK) Q1 2026 earnings summary

Executive summary

• Net sales for Q1 2026 were SEK 226.4 million, up 4.1% in local currencies year-over-year, mainly driven by Studsvik Scandpower's 16.6% growth.

• Operating profit declined to SEK 12.3 million from SEK 19.5 million last year, reflecting one-off effects, acquisition costs, and strategic investments.

• Strategic acquisition of Kärnfull Next AB positions the group at the forefront of the SMR market in Sweden and internationally, including the first new SMR site application in Sweden in over 50 years.

• Expansion of partnerships with Rolls-Royce SMR and Novatron Fusion Group to broaden offerings in nuclear and fusion energy.

• Continued investments in future growth, innovation, and strategic transformation, with a focus on new business opportunities.

Financial highlights

• Group sales increased 4.1% in local currencies to SEK 226.4 million compared to Q1 2025.

• Operating profit was SEK 12.3 million, down from SEK 19.5 million, with an operating margin of 5.4% versus 8.6% last year.

• Free cash flow was negative SEK 12.5 million, compared to positive SEK 39.6 million last year, mainly due to timing of prepayments, late invoicing, and accrual effects.

• Net debt at quarter-end was SEK 78.1 million, down from SEK 100.3 million a year earlier; SEK 7.1 million of bank debt was amortized.

• Profit after tax was SEK 4.5 million, and earnings per share SEK 0.55.

Outlook and guidance

• Nuclear industry demand remains strong, with global and European policy support for tripling nuclear capacity over 30 years and state-backed investments driving SMR market growth.

• The group is well-positioned for new SMR projects in Sweden and internationally, with continued focus on growth, innovation, and U.S. market expansion.

• Swedish legislation changes are enabling more efficient nuclear project permitting and lifting restrictions on new builds along coastlines.

• Strategic transformation journey ongoing, with investments in future expertise and partnerships.