Interim Rapport Q2 2026
Half-year report January - June 2026
2026-08-28 15:18:00
Strong revenue despite challenging market conditions
- Quarterly net sales increased by 9 percent and EBITA excluding items affecting comparability declined by 5 percent.
- Cash flow from operating activities amounted to SEK -59.9 m in the quarter but remained positive for the full period at SEK 21.8 m. The Group’s cash position remains strong.
- At the end of May, Strömvalls Mälardalen AB (Strömvalls) in Örebro was acquired, further strengthening Bellman Group’s offering within contracting services.
- On 2 July, an agreement was signed to acquire Ekmans Hedesunda AB, a full-service provider of haulage, machinery and workshop services operating in Gävleborg. The acquisition is expected to be completed during the third quarter.
| Second quarter, April—June 2026 • Net sales amounted to SEK 1,097.6 m (1,005.0), an increase of 9.2 percent. • EBITA excluding items affecting comparability amounted to SEK 53,2 m (59.8), a decrease of 11.1 percent. EBITA margin excluding items affecting comparability amounted to 4.8 percent (6.0). • EBIT amounted to SEK 28.3 m (53.5), with an EBIT margin of 2.6 percent (5.3). • Quarterly profit amounted to SEK -7.8 m (0.1). • Basic and diluted earnings per share amounted to SEK -3.7 (0.0). • Cash flow from operating activities amounted to SEK -59.9 m (105.8). | Period, January—June 2026 • Net sales amounted to SEK 1,932.7 m (2,043.7), a decrease of 5.4 percent. • EBITA excluding items affecting comparability amounted to SEK 49.4 m (131.6), a decrease of 62.4 percent. EBITA margin excluding items affecting comparability amounted to 2.6 percent (6.4). • EBIT amounted to SEK 20.7 m (116.4), with an EBIT margin of 1.1 percent (5.7). • Periodic profit amounted to SEK -36.0 m (16.5). • Basic and diluted earnings per share amounted to SEK -17.2 (7.8). • Cash flow from operating activities amounted to SEK 21.8 m (104.0). |
Financial overview 1)
| Q2 | Q2 | YTD | YTD | Year-end | |
| SEK m (unless stated otherwise) | 2026 | 2025 | 2026 | 2025 | 2025 |
| Net Sales | 1,097.6 | 1,005.0 | 1,932.7 | 2,043.7 | 4,002.5 |
| EBITA excluding items affecting comparability | 53.2 | 59.8 | 49.4 | 131.6 | 196.4 |
| EBITA margin excluding items affecting comparability, % | 4.8 | 6.0 | 2.6 | 6.4 | 4.9 |
| Operating profit (EBIT) | 28.3 | 53.5 | 20.7 | 116.4 | 161.9 |
| Operating margin, % | 2.6 | 5.3 | 1.1 | 5.7 | 4.0 |
| Net profit | -7.8 | 0.1 | -36.0 | 16.5 | 6.5 |
| Basic and diluted earnings per share, SEK | -3.7 | 0.0 | -17.2 | 7.8 | 3.1 |
| Cash flow from operating activities | -59.9 | 105.8 | 21.8 | 104.0 | 248.7 |
1) The 2025 data include all legal entities for the period January—December, except Väghyveltjänst Peter Gunnarsson AB (VHT), Strömvalls Mälardalen AB (Strömvalls) and Mittvägen i Karlskrona AB (Karlskrona). The 2026 data include all legal entities for the period January—June, except Strömvalls, which is included for June only, and Karlskrona, which is not included in the 2026 period as the acquisition was completed on 29 June.
Comparable figures in this report are provided in parentheses and refer to the same period of the previous year, unless otherwise stated.
For detailed information regarding items affecting comparability, see note 9.