Nolato Q3 2026 Interim Report
Strategic acquisitions and strong organic growth for Medical Solutions
Third quarter of 2026 in brief
- Sales rose to SEK 2,500 million (2,342) – adjusted for currency and acquisitions, this was a 3% increase
- Operating profit (EBITA) was SEK 254 million (281)
- EBITA margin of 10.2% (12.0)
- Profit after tax was SEK 172 million (215)
- Earnings per share, basic and diluted, totaled SEK 0.64 (0.80)
- Cash flow from operating activities increased to SEK 332 million (301)
Business area performance
Medical Solutions sales amounted to SEK 1,469 million (1,311) which, adjusted for currency and acquisitions, is an increase of a full 9%. Operating profit (EBITA) rose to SEK 166 million (159) and the EBITA margin was 11.3% (12.1). The business area saw growth in most market areas, particularly Drug delivery, driven by increased volumes of several newer products, and also In vitro diagnostics (IVD), where newer products account for the majority of the increase. Investments in expansion to support future growth are proceeding according to plan at several of our existing facilities. The acquisitions of the Dutch company Unitron and part of the Irish company Qualtech are included in the quarter on a one-month basis and have been successfully completed; the majority of their sales are included in the Drug delivery market area.
Engineered Solutions sales amounted to SEK 1,040 million (1,035); adjusted for currency and acquisitions, this was a decrease of 3%. Operating profit (EBITA) decreased to SEK 112 million (120) and the EBITA margin amounted to 10.8% (11.6). The Consumer electronics market segment exhibited stable volumes while Automotive declined sharply due to lower demand and the impact of model changes among customers. Hygiene continued to see inventory adjustments and lower sales, although volumes have stabilized sequentially. The market area Other grew; it now includes the majority of the business area’s share of the acquisition of Irish company Qualtech, which contributed on a one-month basis in the quarter.
Materials exhibited a sharp increase in volume and is contributing robust profitability. All customer segments exhibited growth and, in particular, shipment volumes for data centers/satellites, aerospace/defense, and the automotive sector increased significantly.
A one-time item of SEK 8 million for acquisition costs was charged to consolidated profit. In the previous year, profit was positively affected by a one-time item of SEK 7 million net related to an insurance claim.
First nine months of 2026 in brief
- Group sales rose to SEK 7,311 million (7,190) – adjusted for currency and acquisitions, this was a 3% increase
- Group operating profit (EBITA) was SEK 761 million (829)
- The EBITA margin was 10.4% (11.5)
- Profit after tax was SEK 522 million (626)
- Earnings per share, basic and diluted, totaled SEK 1.94 (2.32)
- Cash flow from operating activities increased to SEK 844 million (752)
- Sustained strong financial position
Comments from the CEO
Anders Björklund, President and CEO of Nolato AB, commented:
Group sales increased by 7% in the third quarter. Adjusted for acquisitions and currency effects, organic growth was 3% in a persistently challenging business environment. However, we have a diversified customer portfolio and production on three continents, which generally gives us good resilience. Nevertheless, we are temporarily affected by higher prices for input goods, which was partly a reason for the EBITA margin declining to 10.2%.
Nolato continuously optimizes its business portfolio to strengthen its position in areas where we can combine technical expertise, close customer relationships and industrial scale in a global market. Through the recently completed acquisitions of Unitron and M&M Qualtech, Nolato is strengthening its capacity in electronics-intensive medical technology, systems integration and advanced manufacturing. The acquisitions broaden Nolato’s offering by adding development expertise and manufacturing of complete systems – including electronics – which strengthen Nolato’s presence in attractive, regulated segments and provide means for taking on greater responsibility in customers’ value chains. The acquisitions, which were consolidated as of September, contribute approximately SEK 600 million on an annual basis, with an EBITA margin in line with that of the Group.
Nolato’s financial position remains very strong, with net liabilities in relation to operating profit (EBITDA) of 1.0x at the end of the third quarter, providing us with continued financial flexibility.