Q2 2026 Indutrade AB Earnings Call Transcript
Key Points
- Indutrade AB (IDTRY) reported a strong quarter with a 14% increase in total order growth, 8% of which was organic.
- Net sales reached a record high of SEK9 billion, with a strong organic growth of 5%.
- EBITDA margin improved to 14.7%, supported by good operational leverage and margin-accretive acquisitions.
- The company successfully acquired nine companies in 2026, with a strong acquisition pipeline in place.
- Cash flow from operating activities increased by 20%, and the order backlog is 8% higher than the same period last year.
- Sales in Denmark were down due to lower deliveries to Novo Nordisk, impacting the overall performance in the Nordic region.
- The Benelux region experienced a slightly negative development due to lower construction activity and tough comparisons.
- Infrastructure & Construction segment was down 3%, still impacted by weaker general demand and lower order book values.
- Technology & System Solutions had a lower EBITA margin compared to last year, affected by weak performance in a few project-oriented companies in the UK.
- The financial net debt increased due to the increased acquisition pace, with net debt/EBITDA slightly higher than last year.
Welcome to the Indutrade Q2 presentation for 2026. (Operator Instructions) Now I will hand the conference over to CEO Bo Annvik; and CFO Patrik Johnson. Please go ahead.
Welcome and good morning on our behalf as well. We are glad to present a strong quarter, and let's start with the overall highlights.
We had a good development in many areas in the quarter, starting with the top-line development. Demand continued to improve and total order growth was 14%, of which 8% organically, with the majority of our companies growing. Continued positive book-to-bill of 105%, and the strongest demand was with companies having customers within the medtech and pharma area and also the energy sector.
Net sales increased 11% in total to record high SEK9 billion, with strong organic growth of 5%. EBITDA was also on a record high level, and EBITDA margin improved to 14.7%, with good operational leverage on the organic sales and margin accretive acquisitions. Cash flow from
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