Investment company Ratos reported adjusted EBITA for the first quarter of 2026 that exceeded analyst expectations. Revenue was in line with consensus. The figures refer to continuing operations.
Net sales rose 0.6 percent to SEK 4,497 million (4,472). This outcome compares with the Modular Finance analyst consensus of SEK 4,466 million. Organic growth was 3.4 percent (-5.5).
EBITA amounted to SEK 391 million (465), with an EBITA margin of 8.7 percent (10.4).
Adjusted EBITA reached SEK 417 million (345), compared to the expected SEK 394 million, yielding an adjusted EBITA margin of 9.3 percent (7.7). Adjusted EBITA thus increased by 21 percent.
Operating profit was SEK 361 million (434), with an operating margin of 8.0 percent (9.7).
This includes items affecting comparability of SEK -25 million (+120).
Profit before tax was SEK 253 million (270).
Profit after tax amounted to SEK 247 million (235).
Earnings per share were SEK 0.59 (0.53).
Cash flow from operating activities totaled SEK 22 million (38).
During the first quarter, a new strategic direction was presented in which Ratos returns to being an investment company. New financial targets were also launched, with a clear focus on long-term value creation through active ownership.
In parallel, significant portfolio changes were implemented, including the divestment of Expin Group and the add-on acquisition of Deinzer for HL Display.
- At the Capital Markets Day on March 19, we presented Ratos's new strategy, and at the Annual General Meeting on March 25, a dividend of SEK 1.40 per share was approved, reflecting our financial strength and our focus on long-term shareholder value. With increased transparency, clear priorities, and improved governance, I am confident in the transition to an investment company and look forward to 2026 with optimism, commented CEO Gustaf Salford in the interim report.
Ratos AB is a Sweden-based private equity company. It owns and develops over 10 unlisted medium-sized enterprises in Nordic region. Enterprises are active in various sectors, such as industry, consumer goods, services and life science, among others. The Company’s portfolio comprises Aibel, the supplier of maintenance and modification services for production platforms and onshore installations within oil and gas industry; Bisnode, the data and analytics company; HENT, the construction company with focus on public and commercial real estate; Plantasjen, the chain for sales of plants and gardening accessories; HL Display, the supplier of products and solutions for in-store communication and merchandising; and Diab, the manufacturer of materials for sandwich composite structures, among others enterprises.
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