Net Sales and Organic Growth
Net sales increased 2% in the quarter; organic growth was 2%. Solutions grew +1% and Service grew +3%.
Order Intake and Book-to-Bill
Quarterly book-to-bill was 1.17 (vs 1.15 last year) and rolling 12-month book-to-bill was 1.09, indicating healthy order momentum.
Product Launches and U.S. Approval
Elekta Evo received U.S. FDA approval on January 16; Evo and Elekta ONE product launches supported sales and funnel development. Company reported Evo-related orders and upgrades in multiple regions.
China Recovery
China returned to order and revenue growth in Q3. Management expects double-digit (~10%) orders and revenue growth in China for H2 and market unit demand to rebound toward pre-anticorruption levels. China book-to-bill is above 1.1 year-to-date and Elekta remains a market leader with high-30s share of new placements.
Margin and Cash EBIT Improvement
Gross margin improved by 120 basis points to 38.3% despite tariff and FX headwinds; reported EBIT margin was 11.9% (up ~20 bps year-over-year). Adjusted cash EBIT margin was up 170 basis points year-over-year and rolling cash EBIT shows sustained sequential improvement.
Cash Flow and Balance Sheet Progress
Year-to-date cash flow improved by roughly SEK 400–500 million versus prior year; net debt decreased by more than SEK 200 million compared to Q3 last year; working capital development and inventories were more stable.
Cost Program and Operating Model Changes
Change of operating model is ~83% executed with UK consultation concluding; restructuring program targets >SEK 500 million run-rate savings (30% COGS / 70% OpEx) with full impact expected in Q1 next fiscal year; management expects most of the planned savings to materialize and some impact in Q4.