Q1 2026 Ferronordic AB Earnings Call Transcript
Key Points
- Gross margin improved to 17.7% from 16.3% last year, indicating better profitability.
- Operating profit more than doubled to SEK37 million, showcasing strong operational performance.
- EBITDA increased by 49% to SEK124 million, reflecting improved earnings before interest, taxes, depreciation, and amortization.
- Net profit improved to SEK32 million, supported by currency exchange gains and lower finance costs.
- Positive operating earnings from Germany and strong demand in the US, driven by infrastructure investments and data center projects.
- Revenue decreased by 6% year-on-year, although it was up 6% in fixed currency.
- Net debt increased to SEK1.957 million due to the integration of the Housby business and seasonal inventory buildup.
- Higher fuel prices in Germany are causing customer caution and affecting the economy.
- Tariffs and gradual price increases by manufacturers are causing some market uncertainty.
- Working capital increased in Germany and Kazakhstan, partly due to postponed truck deliveries and slow market activity.
Welcome to the Ferronordic Q1 2026 report presentation. (Operator Instructions) Now, I will hand the conference over to Speaker CEO Henrik Carlborg and CFO Erik Danemar. Please go ahead.
Good morning, everybody. Thank you for your interest in Ferronordic, and welcome to our presentation of the first quarter of 2026. Moving to slide 2, summarizing the quarter, we saw revenue amounting to SEK1.128 million, down 6% year-on-year, but up 6% in fixed currency. Gross margin improved to 17.7% compared to 16.3% last year, operating profit more than doubled to SEK37 million, EBITDA increased 49% to SEK124 million and net profit improved to SEK32 million supported by currency exchange gain and lower finance costs.
Net debt at the end of the quarter amounted to SEK1.957 million up versus last year related to the integration of the house food business that was acquired in January and that seasonal inventory and rental fleet build up.
Looking at the operations
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