TagMaster (TAGM) Q2 2026 earnings summary

Executive summary

• Net sales for Q2 2026 decreased by 8.4% year-over-year to 116.4 MSEK, with organic growth at -5.8%.

• Adjusted EBITDA for Q2 was 19.0 MSEK, down 12.9% year-over-year, with a margin of 16.3%.

• Operating profit rose to 12.3 MSEK from 9.6 MSEK, and profit for the period increased to 8.4 MSEK.

• Cash flow from operating activities improved significantly to 13.8 MSEK from -2.7 MSEK.

• For H1 2026, net sales were stable at 227.1 MSEK, with adjusted EBITDA up 77.4% to 34.9 MSEK.

Financial highlights

• Gross margin improved to 70.1% in Q2 2026 from 67.8% a year earlier.

• Operating margin for Q2 increased to 10.6% from 7.5% year-over-year.

• Earnings per share for Q2 were SEK 0.57, up from SEK 0.48.

• Equity ratio at the end of Q2 was 62.6%, up from 51.1% a year earlier.

• Net debt/EBITDA (R12M) improved to 0.2 from 0.9.

Outlook and guidance

• Management remains confident in long-term prospects despite global uncertainty and supply chain disruptions.

• Focus remains on long-term growth, cost management, and operational efficiency.

• Strategy includes organic and acquisition-driven expansion, especially in data solutions and software.