NCAB Group lifts Q1 sales and earnings as AI-driven PCB demand tightens capacity

An update from NCAB Group AB ( (SE:NCAB) ) is now available.

NCAB Group reported a strong start to 2026, with first-quarter net sales up 12% in SEK and 31% in USD to SEK 1.07 billion, driven by higher prices, longer lead times and several large project orders. Order intake surged 27% in SEK and 49% in USD, lifting the book-to-bill ratio to 1.20 and expanding EBITA by 28% to SEK 128 million, despite negative currency effects on margins.

Management highlighted robust demand across regions, particularly in North America and Asia, and solid growth in Nordic defence and EV charging as well as aerospace, medtech and data-centre support systems. The tight global PCB capacity, fuelled by AI data-centre investments and logistical disruptions from Middle East tensions, is pressuring lead times and prices but also underscores NCAB’s competitive edge in factory access and delivery reliability, supporting its decision to propose a reinstated dividend.

The most recent analyst rating on (SE:NCAB) stock is a Buy with a SEK59.00 price target. To see the full list of analyst forecasts on NCAB Group AB stock, see the SE:NCAB Stock Forecast page.

More about NCAB Group AB

NCAB Group AB is a Sweden-based company operating in the printed circuit board (PCB) market, supplying advanced PCBs through a factory management and sourcing model. It focuses on industrial, aerospace and defence, medtech and data centre applications, with a growing presence in North America, Europe, the Nordic region and Asia. The group positions itself as a partner securing reliable capacity and quality amid tightening global PCB supply.

Average Trading Volume: 412,070

Technical Sentiment Signal: Buy

Current Market Cap: SEK13.11B

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