Seamless Distribution Systems (SDS) Q2 2026 earnings summary

Executive summary

• Delivered strong pre-tax profit in Q2 2026, with significant margin improvement and positive net income year-over-year.

• Cost optimization and organizational restructuring in 2025 led to improved profitability and operational leverage.

• Order intake was lower in Q2 due to delayed deals, but the pipeline remains robust with expectations for conversion in H2 2026.

• Guidance for full-year 2026 pre-tax profit remains at 45–55 MSEK.

Financial highlights

• Q2 2026 net sales: 42.0 MSEK, down 6.5% year-over-year; H1 2026 net sales: 83.3 MSEK, down 17.7%.

• Q2 EBITDA: 20.6 MSEK (836% increase); H1 EBITDA: 41.9 MSEK (393% increase).

• Q2 EBITDA margin: 49.1% (vs. -6.2%); H1 EBITDA margin: 50.3% (vs. 8.4%).

• Q2 net income: 9.0 MSEK (vs. -49.4 MSEK); H1 net income: 18.2 MSEK (vs. -51.8 MSEK).

• Q2 EPS: 0.38 SEK (vs. -2.60 SEK); H1 EPS: 0.77 SEK (vs. -2.72 SEK).

• Q2 cash flow: -0.9 MSEK; H1 cash flow: 9.4 MSEK.

Outlook and guidance

• Full-year 2026 pre-tax profit expected in the range of 45–55 MSEK.

• Anticipates increased order intake in H2 2026 as delayed deals are expected to close.

• Continued focus on cost optimization and operational efficiency to protect margins.