KebNi (KEBNI) Q2 2026 earnings summary

Executive summary

• Q2 2026 net sales fell 14% year-over-year to 28.8 MSEK, mainly due to delayed Satcom orders.

• First half 2026 net sales declined 39% year-over-year to 41.9 MSEK, with EBITDA at -6.8 MSEK.

• Strategic investments continued in product development and production capacity, especially in Inertial Sensing.

• Impairment of ScaffSense joint venture recognized, impacting net profit but not cash flow.

• Underlying demand remains strong, with new orders in both industrial and defense segments post-quarter.

Financial highlights

• Q2 2026 EBITDA was -139 KSEK (0% margin), down from 4,882 KSEK (14%) in Q2 2025.

• Net profit for Q2 2026 was -14,271 KSEK, compared to 2,391 KSEK in Q2 2025.

• Operating cash flow for Q2 2026 was -11,471 KSEK, versus 16,020 KSEK in Q2 2025.

• Equity at quarter-end was 48,061 KSEK, with an equity ratio of 49%.

• Cash and cash equivalents, net of overdraft, stood at -6,887 KSEK.

Outlook and guidance

• Full recovery in Satcom order flow expected in Q3 as supply chain issues have been addressed.

• Inertial Sensing production capacity to be doubled to meet anticipated demand.

• Management remains confident in long-term market opportunities despite short-term delays.