QleanAir AB (FRA:9ZJ)

Q1 2026 Qleanair AB Earnings Call Transcript

May 12, 2026 / 08:00 AM GMT

Release Date Price: €2.02 (-13.68%)

Transcript

Key Points

Positve

QleanAir AB (OSTO:QAIR) reported a 10.6% growth in constant currency for Q1 2026, despite a 2.3% decline in reported numbers due to foreign exchange headwinds.
Cabin solutions and air cleaners showed significant growth of 5.7% and 13.4% respectively in constant currency.
The company's gross margin remains strong, with all product categories above the 60% mark, supported by cost improvements and a higher rate of renewals.
Recurring revenues grew to $72 million in constant currency, indicating a stable and growing revenue base.
QleanAir AB (OSTO:QAIR) has aligned its financial targets to focus on a rental model, aiming for an EBITDA margin of 15% to 20% and a cash conversion rate of 80% to 100%.

Negative

The company faced significant foreign exchange headwinds, particularly from the Japanese yen, US dollar, and euro, impacting reported sales.
Cash flow was negative $5 million for the quarter, partly due to the postponement of two cleanroom projects to 2027.
The EBITDA margin of 13.1% was lower than last year's 14.3%, despite adjustments for currency effects and other factors.
The European market showed a sequential decline in sales, raising concerns about momentum in that region.
The transition to a rental model may result in slower reported sales growth as revenues are accrued over contract periods rather than recognized upfront.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

QAIR.ST - Qleanair AB
Q1 2026 Qleanair AB Earnings Call
May 12, 2026 / 08:00AM GMT

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Presentation
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Unidentified_1 [1]
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Welcome to the Clean Air Q1 2026 report presentation. For the first part of the presentation, participants will be in listen-only mode. During the questions and answers, session participants are able to ask questions by dialing pound key five on their telephone keypad. If you are listening to the presentation via webcast, you can ask written questions using the form below. Now, I will hand the conference over to speakers CEO Sebastian Lindstrom and CFO Frederick Sandelin. Please go ahead.

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Unidentified_2 [2]
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So a warm welcome to the Clean Air investor presentation for Q1

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