Green Landscaping Group (GREEN) Q2 2026 earnings summary

Executive summary

• Net sales for Q2 2026 rose 15% year-over-year to SEK 1,847 million, with 6% organic growth and acquisitions contributing 8%.

• EBITA declined 10% to SEK 130 million, with the margin falling to 7.0% from 9.0% last year.

• Cash flow from operating activities improved to SEK -7 million from SEK -78 million in Q2 2025.

• CEO Johan Nordström stepped down post-period, with Clein Johansson Ullenvik appointed as acting CEO.

• Country-based organization implemented to enhance operational accountability.

Financial highlights

• Rolling twelve-month net sales reached SEK 6.6 billion, up 8%.

• EBITA margin for Q2 was 7.0%; rolling twelve months at 6.3%.

• Earnings per share for Q2 was SEK 1.29, up from SEK 1.15 last year, aided by a SEK 27 million revaluation of earnout liabilities.

• Order backlog at SEK 8,039 million, up 6% year-over-year.

• Cash and equivalents at period end: SEK 483 million; unutilized credit facilities: SEK 342 million.

Outlook and guidance

• Gradual improvement in profit margins expected in H2 2026 as market conditions stabilize, especially in Sweden and Norway.

• Early signs of market recovery, but price pressure persists, particularly in Norway and Sweden.

• Order backlog supports long-term growth; pipeline for acquisitions remains robust.

• Cash generation and working capital management are key priorities due to leverage above target.

• No dividend for fiscal year 2025, in line with previous years.