Nederman (NMAN) Q2 2026 earnings summary

Executive summary

• Customer activity and order intake increased across all divisions, with record levels in Extraction & Filtration Technology and strong performance in other segments.

• Investments in innovation, operations, and efficiency are yielding tangible business results, strengthening competitiveness and market share in both traditional and new industries.

• Service business and recurring revenue streams continue to grow, supporting long-term value creation.

• Recent acquisitions, including Fume & Dust Control in Australia, are expanding presence in key growth markets.

• Operational efficiency and high cash generation reinforce confidence in strategic direction and shareholder value creation.

Financial highlights

• Q2 2026 order intake was SEK 1.482 billion, up 6.3% year-over-year; sales were SEK 1.362 billion, down 3.7% currency neutral.

• Adjusted EBITA for Q2 was SEK 114 million (8.3% margin), down from SEK 159 million (11.0%) last year; EPS was SEK 1.54 versus SEK 1.97 last year.

• Operating cash flow improved to SEK 69 million from SEK 59 million in Q2 last year.

• Net debt increased in Q2 due to SEK 140 million dividend payout and acquisition activity; net debt as of June 30, 2026 was SEK 2,171 million.

• Equity ratio at 36.2% and net debt/equity ratio at 84.5% as of June 30, 2026.

Outlook and guidance

• Strong order backlog and recent order intake growth support expectations for improved sales and profitability in upcoming quarters.

• Service and digital offerings provide resilience; market uncertainty persists due to geopolitical factors, but fundamentals remain strong.

• Management expects margin recovery as volumes increase and new product launches gain traction; continued investments in operational efficiency and product development are planned.