Sweden · Delayed Price · Currency is SEK NCAB Group AB Earnings Call Transcripts
Fiscal Year 2026
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Q3 sales rose 54% and order intake 166%, supported by underlying demand, pricing and forward orders amid tight supply. EBITA margin reached 14.4%; management expects supply constraints to persist through at least H2 2027.
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Q2 2026 saw robust growth in order intake and net sales, driven by AI-related demand and supply chain constraints, with stable gross margins and strong performance across all regions. The acquisition of Board Shark PCB strengthens the U.S. presence, while ongoing supply chain challenges and price increases are expected to persist into 2027.
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Strong Q1 2026 results with 27% order intake growth and 12% higher net sales, driven by industrial, med tech, and defense segments. EBITDA margin improved to 11.9%, and major project wins and acquisitions supported growth despite supply chain and FX headwinds.
Fiscal Year 2025
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Q4 saw robust order intake and sales growth, with EBITDA margin improvement despite FX headwinds. Market recovery is broad-based, with strong performance in defense, MedTech, and power, and price increases expected in 2026. M&A and ERP rollout progressed well.
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Order intake and revenue grew strongly year-over-year, led by North America and East, with positive trends in key sectors. EBITDA was impacted by FX, but cash flow and margins improved sequentially. The IT platform rollout and M&A pipeline remain on track.
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Order intake and organic growth were strong in Q2, but FX headwinds and product mix led to lower EBITDA and margins. Europe shows early recovery signs, while North America and East segments remain resilient. M&A and liquidity position the group for further expansion.
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Q1 saw improved order intake and slight revenue growth, but EBITDA and margins declined year-over-year due to FX, pricing, and product mix. No dividend will be paid to maintain flexibility for M&A amid tariff and market uncertainties.
Fiscal Year 2024
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Q4 saw revenue and EBITDA decline due to weak European demand and integration of lower-margin acquisitions, while North America and East segments grew. Gross margin remained healthy, and the board proposed an unchanged dividend. Market outlook is gradually improving, especially in data centers and telecom.
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Q3 saw continued weak demand in Europe, but growth in North America and East, with stable gross margins and strong cash flow. Four acquisitions were completed, supporting market consolidation, while cautious customer behavior and economic uncertainty persist.
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Net sales fell 12% year-over-year due to weak European demand, especially in Germany, but gross margin improved and order intake grew in North America and East. Four acquisitions expanded the footprint, and a SEK 500 million credit facility was added for further M&A.