Q2 2026 Scandinavian Astor Group AB Earnings Call Transcript
Key Points
- Net sales increased 89% year-over-year to SEK171 million, marking the strongest Q2 in the company's history.
- Order book nearly doubled to SEK610 million, up 111% year-over-year, providing strong visibility for H2 2026.
- The Industry segment delivered strong performance with an EBIT margin of approximately 20%, driven by operational excellence and cost efficiency.
- The acquisition of PBH Teknik, a profitable and strategically located company, is expected to enhance the Precision Machining vertical and create synergies.
- Management is confident in recovering the temporary EBITDA dip in Q2, with planned deliveries shifted to H2 and a positive outlook for Q3 and Q4.
- Adjusted EBITDA declined to SEK10.6 million, impacted by unfavorable product mix and postponed deliveries, leading to a temporary drop in profitability.
- Organic growth was negative in Q2, with some companies in the Protect segment experiencing challenges and longer sales cycles.
- Cash flow from operating activities was negative at SEK25.9 million due to inventory build-up ahead of deliveries, straining liquidity.
- Equity/assets ratio decreased significantly to 38.3% from 64.1%, reflecting increased borrowing for acquisitions and higher financial leverage.
- The Protect segment faces short-term challenges, including external issues in North America and delays in larger contracts, which may affect near-term margins.
My name is Christian and I will be your host today. With me is the CEO, Martin Elovsson. And in a minute, he will begin presenting the results of the second quarter, which will be followed by a Q&A session. (Operator Instructions) So with that, I am handing over to Martin.
Thank you, Christian, and good morning to you all and welcome to this Q2 earnings call with Astor Group. Yeah, we don't need to discuss the disclaimer, but today's presenter is myself, Martin Ellefson. I'm the CEO for Astor Group since May this year. We reviewed my background with my last Q1 together in Matias for the Q1 results. So I suggest we proceed here. There could be some newcomers here who is interested in Astor, so I want to give you a brief update about Astor and also Astor as a purpose-driven company, just to get the feeling of what's driving our forces, except delivering bottom-line results.
We believe that we are ready to fight for a world where freedom and safety are a shared reality for all, and
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