SEHED Byggmästargruppen (SEHED) Q2 2026 earnings summary

Executive summary

• Revenue increased by over 30% year-over-year for the first half of 2026, driven by successful expansion in new production and the acquisition of 40% of Nokon Produktion AB.

• Order backlog remains strong, exceeding one year’s revenue, with order intake of SEK 1.2 billion for January–June.

• Focus on low CO2 construction and organizational efficiency through a new matrix structure.

• Dividend raised by 25% to SEK 1 per share.

Financial highlights

• Q2 net sales: SEK 613.6m (480.7m), EBITDA: SEK 28.9m (30.7m), EBITDA margin: 4.7% (6.4%).

• H1 net sales: SEK 1,114.7m (845.5m), EBITDA: SEK 45.2m (39.9m), EBITDA margin: 4.1% (4.7%).

• H1 EBIT: SEK 34.4m (33.4m), EBIT margin: 3.1% (3.9%).

• H1 net income: SEK 26.2m (25.3m), EPS: SEK 0.94 (0.90).

• Cash flow from operations before working capital changes: SEK 29.3m (23.7m); after changes: SEK -24.2m (-26.7m).

• Equity ratio at period end: 40.5% (43.9%).

Outlook and guidance

• Continued high competition and margin pressure in the construction sector, but demand is rising compared to last year.

• Expansion in new production and environmental construction expected to drive further growth.

• The company is preparing for a regulated market listing.