Teqnion (TEQ) Q2 2026 earnings summary

Executive summary

• Net sales for Q2 2026 reached 517.9 MSEK, up 9% year-over-year, with EBITA rising 36% to 72.9 MSEK and an EBITA margin of 14.1% compared to 11.3% last year.

• Organic sales declined 3% due to discontinuation of unprofitable business, but organic EBITA increased 52%.

• Underlying pre-tax profit from subsidiaries more than doubled compared to Q2 last year.

• Group performance is improving steadily, with new processes and turnarounds strengthening the foundation.

• The group is organized into two business areas: Nord and Väst, both showing improved profitability.

Financial highlights

• Q2 2026 net sales: 517.9 MSEK (up 9% year-over-year).

• EBITA: 72.9 MSEK (up 36% year-over-year); EBITA margin: 14.1%.

• Organic EBITA growth was 52% year-over-year, compared to 13% in Q1.

• Free cash flow (excl. acquisitions): 35.0 MSEK (up 678%).

• Net debt/EBITDA: 1.7x, improved from 1.9x last year.

Outlook and guidance

• Management expects continued improvement in margins and earnings as unprofitable businesses are exited.

• The company aims to double EPS every five years and maintain an EBITA margin above 9%.

• Backlog has increased, with three subsidiaries showing exceptional order intake.

• Organic earnings growth rates are expected to normalize as comparisons become tougher.

• No new material risks identified; ongoing monitoring of geopolitical events.