Railcare Delårsrapport Q226 Final ENG
Interim Report January-June 2026
Stable quarter with increased sales and improved margin.
SECOND QUARTER
- Consolidated net sales amounted to SEK 192.3 million (178.1).
- Operating profit (EBIT) amounted to SEK 20.7 million (18.1).
- Earnings per share before and after dilution amounted to SEK 0.49 (0.33).
FIRST SIX MONTHS OF THE YEAR
- Consolidated net sales amounted to SEK 344.4 million (301.2).
- Operating profit (EBIT) amounted to SEK 40.0 million (22.5).
- Earnings per share before and after dilution amounted to SEK 0.94 (0.52).
CEO COMMENTS
Net sales in the second quarter totalled SEK 192.3 million (178.1), and operating profit amounted to SEK 20.7 million (18.1). This corresponds to an operating margin of 10.8 percent (10.2).
“We delivered a stable second quarter, with particularly strong performance in transport operations. All fixed transport assignments were completed as planned, while volumes in contracting transport services were high, driven by the large number of scheduled track renewal projects. This made a positive contribution to profit in the transport operations. As expected, volumes in contracting operations were lower during the second quarter."
Transport operations delivered a very strong performance in the quarter, supported by the successful execution of all fixed assignments and, above all, high volumes in contracting transport services. A large number of track renewal projects are scheduled this year, and we have been contracted to provide transport services for the majority of them. This has resulted in high resource utilisation and, in turn, a strong margin.
Volumes in contracting operations were lower than in the corresponding quarter of the previous year. This was partly because some work had already been carried out in the first quarter and partly because full-year volumes are expected to be lower in 2026 than in the previous year. The large number of track renewal projects has also meant that certain preparatory works, such as cable lowering and ballast replacement in switches, have been postponed until next year. We communicated this in the previous report, and that assessment remains unchanged. We have signed a new three-year framework agreement with the Swedish Transport Administration, effective from next year. The agreement is adapted to our upgraded fleet of electric and battery-powered machines.
In the Technology segment, capacity utilisation was somewhat lower than in previous years, reflecting the ongoing transition towards a greater share of external customers. Current projects include the complete overhaul of a TMZ locomotive and continued work on the 1144 locomotives. We have also carried out testing and quality inspections on the Railvac purchased by Norway’s Baneservice, with final delivery scheduled for the third quarter.
New transport agreement with Maersk
At the beginning of July, we signed a framework agreement with Martin Bencher (Scandinavia) AB, part of the Maersk Group, for specialised rail transport services in Sweden. Under the agreement, Railcare will provide rail transport services for assignments requiring specialist planning and expertise. These primarily involve heavy or oversized goods that cannot be handled using standard transport solutions.
Assignments will be carried out as required, and the first transport was completed in July. We have extensive experience in specialised transport, and being entrusted by a global operator such as Maersk is a strong endorsement of our expertise.
Railcare introduces an incentive programme for employees
At Railcare’s Annual General Meeting in May, a resolution was passed to introduce an incentive programme for the Group’s employees. Under the programme, all employees were offered the opportunity to invest in Railcare shares. Provided that an employee remains employed at the beginning of 2030 and the Group achieves the targets set under the programme, the employee may be awarded up to 2.2 new shares for each investment share. The purpose of the programme is to create even stronger incentives for employees to contribute to Railcare’s continued development and to share in the company’s success. All shares available under the programme were subscribed for, demonstrating the strong level of employee interest.
Our committed and responsible employees are our most important resource and the backbone of Railcare. It is therefore particularly gratifying that the Board and shareholders supported the introduction of the programme.
Mattias Remahl
CEO