Sweden · Delayed Price · Currency is SEK Karnell Group AB Earnings Call Transcripts
Fiscal Year 2026
-
Q2 2026 saw EBITA surpass SEK 100 million and a 15.4% margin, exceeding long-term targets. Net sales rose 36% year-over-year, with strong organic and acquisition-driven growth, improved cash flow, and disciplined leverage. Recent acquisitions and operational improvements are driving sustained performance.
-
Q1 2026 saw record organic growth, margin expansion, and cash generation, driven by strong execution and two strategic acquisitions in Italy and the UK. Both business segments contributed, with niche manufacturers benefiting from non-recurring project activity.
Fiscal Year 2025
-
Q4 and full year 2025 saw double-digit growth, margin improvement, and strong cash flow, driven by both organic growth and acquisitions. Niche Manufacturers outperformed, while Product Companies remained stable. Entering 2026 with positive momentum and a robust M&A pipeline.
-
Revenue and EBITDA grew double digits year-over-year, with record margins and strong contributions from both business areas. The LundHalsey acquisition expanded the platform, and the M&A pipeline remains robust, especially in the U.K. and Italy.
-
Q2 2025 delivered strong revenue and EBITDA growth, driven by both organic improvements and acquisitions, with niche manufacturing outperforming and product companies remaining profitable. Market stabilization and a robust balance sheet support continued expansion.
-
Q1 2025 saw 26% revenue growth and 92% EBITDA growth, with all segments contributing positively. Acquisitions in Finland and the UK expanded sector exposure, while leverage remains low and market conditions show early signs of stabilization.
Fiscal Year 2024
-
Q4 2024 saw 32% sales growth and 42% EBITDA growth, driven by both organic gains and acquisitions, with strong cash flow and low leverage. Product companies outperformed, while niche manufacturing faced margin pressure due to market softness and strategic choices to retain staff.
-
Q3 2024 saw record EBITA margin and robust growth, driven by both organic performance and strategic acquisitions in the UK and Sweden. Product companies led organic EBITDA growth, while cash flow and leverage remained strong. Margins in recent acquisitions are expected to normalize.
-
Q2 2024 saw 23% sales growth and 14% EBITDA growth, driven by acquisitions and stable organic performance. The group maintained low leverage, completed two strategic acquisitions, and expects improved market sentiment and cash flow in H2.