Revenue Growth Within Guidance
Group sales grew 3.8% in Q1 2026, described as a stable start and within company guidance, driven by U.S. capital sales and strong Rest of World performance.
Solid Adjusted EBITDA and Margin Stability
Adjusted EBITDA was SEK 456 million (vs SEK 486 million prior year). Adjusted EBITDA margin remained essentially flat at 16.9% (17.0% prior year), indicating margin resilience despite headwinds.
Improved EBIT Margin
Adjusted EBIT was SEK 190 million (vs SEK 208 million prior year). EBIT margin increased to 6.8% from 5.9% a year earlier, helped by substantially lower restructuring costs (SEK -6m vs SEK -40m).
Stronger Operating Cash Flow and Cash Conversion
Operating cash flow improved to SEK 237 million, up SEK 53 million year-over-year. Cash conversion rose to 52.7% from 41.3% in Q1 2025, reflecting better working capital performance.
Balance Sheet Strength and Leverage Management
Net debt to adjusted EBITDA remained stable at 2.2x. Equity ratio improved to 50.5% from 49.8% at year-end 2025. Cash position described as strong, with lower investing outflows (SEK -135m vs SEK -215m prior year).
Product and Regional Margin Drivers
Patient Handling (including Maxi Move 5 floor lift and ceiling lift) and Diagnostic businesses improved margins due to higher volumes and favorable mix. Rental margins improved in France, U.K. and Australia.
Large Rest-of-World Order and Execution Capability
A substantial South Africa contract delivered modernization of 36 healthcare facilities (more than 2,300 beds and mattresses). Management highlighted good margin and cash conversion from logistics and installation execution.
Strategic Planning and Management Engagement
Company has initiated an intensive strategy process described as 'untapped potential' with cross-organizational engagement; management aims to finalize strategy during summer and communicate in H2 2026.