Q1 2026 Instalco AB Earnings Call Transcript
Key Points
- Instalco AB (FRA:4IIA) reported a significant increase in EBITA margin to 6.4%, a clear improvement from the previous quarter.
- The company achieved a strong cash flow from operations, maintaining a cash conversion rate of 100%, which strengthens its financial foundation.
- Order backlog grew by 15% organically, with notable growth in all three countries, particularly in Norway.
- Instalco AB (FRA:4IIA) continues to see improvements in organic growth and EBITA, indicating a positive trend in operational performance.
- The company has a well-balanced portfolio across projects, disciplines, customers, and end markets, reducing dependency on any single segment and enhancing stability.
- Currency fluctuations negatively impacted net sales by 1%, affecting overall financial performance.
- The Finnish market remains low in activity, with residential construction and larger private investments largely on hold.
- The Swedish segment experienced a margin decline year-over-year, attributed to challenging market conditions and delayed industrial projects.
- Instalco AB (FRA:4IIA) faces ongoing uncertainty in the global market environment, necessitating a disciplined and selective approach to project selection.
- The company's leverage remains slightly above its long-term target, with net debt to EBITDA at 2.6 times, indicating room for improvement in debt management.
Welcome to this presentation of Instalco's report for the first quarter 2026. My name is Per Sjoestrand. I'm CEO at Instalco. And with me today is our CFO, Christina Kassberg, and for the Q&A part, our Head of IR, Mathilde Eriksson.
The start of 2026 is further proved that we are moving in the right direction. And as always, I will start with a short snapshot of Instalco today. We are a leading installation group across the Nordics with an established platform also in Germany. Our strength is our decentralization, I would say. Local companies, closer customers, combined with common standards, tools, and governance. With over 6,000 employees, we are exposed to market segments driven by long-term needs, such as energy efficiency and electrification.
First, for a quick glance at our LTM numbers. Net sales amount to SEK13.7 billion, and we ended the quarter with a backlog of almost SEK10.4 billion, which represents a steady book-to-bill of around 75%. This is a sign of more activity in the market, as well as
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