Sdiptech AB (publ) Interim report July – September 2026
Summary by AI BETAClose X
THIRD QUARTER 2026
- Net sales increased by 4% and amounted to SEK 1 309 million (1 253). Organic growth contributed 13% excl. currency.
- EBITA increased by 14% and amounted to SEK 280 million (245) corresponding to an EBITA-margin of 21.4 % (19.5).
- Adjusted EBITA increased by 8% and amounted to SEK 261 million (242). Organic growth contributed 6% excl. currency. Adjusted EBITA-margin was 20.0% (19.3).
- Profit before tax amounted to SEK 158 million (-378). Profit after tax amounted to SEK 113 million (-419) and earnings per share to SEK 2.96 (-11.14). Last year's result was impacted by an impairment of goodwill and surplus values of SEK 500 million.
- Cash flow from operating activities amounted to SEK 143 million (256), corresponding to a cash flow generation of 62% (94%).
- During the period, the Group's sustainability-linked bonds of SEK 550 million in total were repurchased and an early redemption was carried out. In connection with this, new senior secured bonds of SEK 400 million were issued.
- Two acquisitions were completed, A.U.T (Wheels and Castors) Co. Ltd and VALE Engineering (York) Ltd in the UK.
Comments by the CEO
Positive development with organic growth in all business areas
Good demand across the business
We have continued to have solid demand during the third quarter. Net sales in the core business grew a total of 19 percent, of which 13 percent organically excluding currency effects. Profit in adjusted EBITA increased by a total of 11 percent, of which 6 percent was organic. This corresponded to an adjusted EBITA margin of 20.0 percent.
Cash flow generation was 81 percent on a last twelve-month basis, which is in line with our ambitions of 70–90 percent. In the third quarter, our cash flow generation was 62 percent, which was mainly due to increased inventory in some companies as part of seasonal inventory build-up for future deliveries. In addition, higher sales resulted in an increase in accounts receivable, which also had an impact on the cash flow.
Focus on growth and return on capital
With the divestment program completed, we focus on continuing to develop our business group. We work actively with our companies to drive profitable growth and free up working capital. Together with value-creating acquisitions, this will strengthen the return on capital and bring us closer to our long-term financial targets.
It is therefore satisfying to be able to present a continued improvement in return on capital employed, which amounted to 13.6 percent in the quarter, compared with 12.0 in the same period last year, and 13.2 in the previous quarter.
Positive development in all business areas
All of Sdiptech's four business areas had good demand and showed a positive organic development in both net sales, as well as profit in adjusted EBITA, in the quarter.
Supply Chain & Transportation continues to develop steadily. We have broadened our offerings in the business area with the two acquisitions that were completed in the quarter. In total, adjusted EBITA grew by 12 percent. However, the margin was impacted by higher costs in the Group's business unit that offers products and services for rail networks. This unit also had a particularly strong third quarter last year.
Energy & Electrification delivered a good quarter with profit growth of 9 percent in adjusted EBITA. The business area sees continued good demand for products and solutions driven by electrification and energy efficiency.
Security & Safety had another strong quarter, with demand supported by increased security needs and regulatory requirements, especially in critical environments. The business area showed strong profit growth of 31 percent, mainly driven by strong demand for solutions for perimeter security, but also for air purification.
Within Water & Bioeconomy, efforts to strengthen the conditions for the companies’ long-term growth have continued, resulting in a new, higher cost base going forward. At the same time, it is clear that several of the investments made have been the right ones, as we are now seeing positive growth in both sales and profit within the business area.
We welcome two new acquisitions
The acquisition activities has continued according to plan, and during the third quarter we welcomed two new companies that expand our offerings in Supply Chain & Transportation. AUT Wheels and Castors offers customized castors for various logistical applications. VALE Engineering develops and manufactures specialized equipment for the maintenance of roads, public environments and other infrastructure facilities.
Good outlooks ahead
We remain positive about the development going forward and see sustained demand in all business areas. The margins in 2026 provide a representative picture of the level of profitability we consider sustainable going forward.
A streamlined portfolio, good organic growth and a growing acquisition pipeline provide us with a solid foundation for the continued development of the Group. Our focus is to translate these conditions into profitable growth, higher returns on capital and long-term value for customers, employees and shareholders.
Anders Mattson, President & CEO
Invitation to webcast
The report will be presented by Sdiptech’s President and CEO Anders Mattson and CFO Bengt Lejdström.
Date: Friday, 23 October 2026
Time: 10:00 (CEST).
Webcast
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Participants will be able to ask questions verbally via the teleconference and submit written questions during the webcast.
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