Q2 in short
- Net sales amounted to SEK 1,289 million (1,288). Organic growth contributed 11% excluding acquisitions and divestments.
- EBITA amounted to SEK 255 million (248), corresponding to an EBITA margin of 19.8% (19.3).
- Adjusted EBITA amounted to SEK 261 million (242). Organic growth contributed 5% excluding acquisitions and divestments. The adjusted EBITA margin was 20.3 (18.8).
- Profit before tax amounted to SEK 144 million (138). Profit after tax amounted to SEK 97 million (92) and earnings per share amounted to SEK 2.54 (2.26).
- Cash flow from operating activities amounted to SEK 186 million (132), corresponding to a cash flow generation of 70% (47%), and a free cash flow per share of SEK 2.04 (1.56).
- During the period, the divestment of the elevator business was completed, which was reported as a discontinued operation. In addition, the last of the companies included in the strategic review initiated in 2025 has been divested.
- The company repurchased sustainability-linked bonds at a value of SEK 250 million.
- The Dutch company Rail Safety Systems and the Danish company JLM Teknik were acquired.
Comments by the CEO
Solid growth, the completion of our divestment program, and increased acquisition activity summarise the second quarter. Our full focus now is on delivering our long-term financial targets.
Net sales in Sdiptech's core business developed positively during the second quarter and grew by 14 percent of which 11 percent organic (excluding acquisitions and divestments). Adjusted EBITA grew by 11 percent in total in the second quarter and corresponding to a stable adjusted EBITA margin of 20.3 percent.
Cash flow generation was 70 percent in the quarter and 90 percent on a rolling twelve-month basis, which is in line with our target and creates a solid foundation for investments in existing businesses and new acquisitions.
The journey towards our long-term financial targets
Over the past 12 months, Sdiptech has taken several important strategic steps, and I am very pleased that we now have completed our divestment program. In total, eleven companies were divested, as well as our remaining elevator business, at an average multiple of 6.7x. With this program now completed, we can fully focus on delivering our long-term financial targets.
We are working actively and gradually to achieve stable organic growth in combination with a higher rate of acquisitions. In the second quarter, we are now at +11 percent in total adjusted EBITA growth.
With a more efficient balance sheet and a streamlined portfolio, we are well positioned to gradually improve returns going forward. In the second quarter, ROCE was 13.2 percent, compared with 11.9 percent in the corresponding period last year.
Despite completing two acquisitions during the quarter, we maintained leverage within our target range, reflecting our disciplined approach to capital allocation while preserving capacity for continued value-creating acquisitions. At the end of the second quarter, the net debt/equity ratio was 2.80.
Business area development
Sdiptech's four business areas performed in line with or above our expectations in the second quarter.
The Supply Chain & Transportation business area maintained its positive momentum, in line with the cautiously optimistic trend observed in the first quarter. We also completed two acquisitions, bringing the business area to a total of eleven business units.
Energy & Electrification delivered another stable quarter with a profit growth of 14 percent, primarily supported by underlying demand in electrification.
Security & Safety continues to perform strongly, reporting profit growth of 20 percent in the second quarter. The performance was driven by several of our business units successfully capitalising on favourable trends in security and clean air technology.
Within business area Water & Bioeconomy, we continue to make investments and incur additional costs to strengthen our companies for long-term growth. As a result, costs increased during the quarter. Demand within the business area developed positively, driven in part by underlying growth in water treatment technology.
The growth journey continues
Since the fourth quarter of 2025, we have increased the pace of acquisitions, and during the second quarter we completed the acquisition of two companies. We welcomed Rail Safety Systems, RSS, which has extensive experience in railway safety, and JLM Teknik, which is a leading supplier of vacuum lifting tools to the group.
We are encouraged as we enter the second half of the year. Supported by a diversified portfolio of strong business units delivering growth, an expanding acquisition pipeline and a clear business strategy, we are well positioned for the future. Our ambition is to create long-term value for customers, employees and shareholders, while continuing to make progress toward our financial targets.
Have a great summer,
Anders Mattson,
President and CEO
Invitation to webcast
Welcome to join us for a conference call for analysts, investors and media today at 10:00 (CEST). The conference can be followed via webcast or telephone. The report will be presented by Sdiptech’s President and CEO Anders Mattson and CFO Bengt Lejdström.
The presentation will be held in English and followed by a Q&A session.
Date: Friday, 17 July 2026
Time: 10:00 (CEST).
Webcast:
To participate via the webcast, please register here
Teleconference:
To participate via the teleconference, please register here
For additional information, please contact:
Bengt Lejdström, CFO, +46 702 74 22 00, bengt.lejdstrom@sdiptech.com
Anders Mattson, CEO, +46 706 26 54 80, anders.mattson@sdiptech.com
About Us
Sdiptech is a technology group that acquires and develops market-leading niche operations that contribute to creating more sustainable, efficient and safe societies. Sdiptech has approximately SEK 4,500 million in sales and is based in Stockholm.
Sdiptech’s common shares of series B are traded on Nasdaq Stockholm under the short name SDIP B with ISIN code SE0003756758. Further information is available on the company's website: www.sdiptech.se
This information is information that Sdiptech is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-07-17 07:30 CEST.
Attachments
Sdiptech Interim Report Q2 2026