First quarter 2026
• Net sales SEK 363.3 million (351.5)
• EBITA SEK 9.3 million (10.4), adjusted for non-recurring items SEK 10.7 million (10.4)
• EBITA margin 2.6 percent (3.0), adjusted for non-recurring items 2.9 percent (3.0)
• EBIT SEK 7.2 million (8.0)
• EBIT margin 2.0 percent (2.3)
• Profit after financial items SEK 10.2 million (8.6)
• Profit for the period SEK 7.9 million (6.9)
• Basic and diluted earnings per share SEK 0.82 (0.72)
Performance measures
Q1 | Q1 | Full-year | |
2026 | 2025 | 2025 | |
Net sales, SEK million | 363.3 | 351.5 | 1,454.8 |
Growth, % | 3.4% | -18.3% | -15.4% |
Organic growth, % | -1.5% | -18.3% | -16.4% |
EBITA, SEK million | 9.3 | 10.4 | 50.5 |
EBITA margin, % | 2.6% | 3.0% | 3.5% |
EBITA adjusted for non-recurring items, SEK million | 10.7 | 10.4 | 54.6 |
EBITA margin adjusted for non-recurring items, % | 2.9% | 3.0% | 3.8% |
EBIT, SEK million | 7.2 | 8.0 | 41.4 |
EBIT margin, % | 2.0% | 2.3% | 2.8% |
EBIT adjusted for non-recurring items, SEK million | 8.6 | 8.0 | 45.5 |
EBIT margin adjusted for non-recurring items, % | 2.4% | 2.3% | 3.1% |
Net profit for the period, SEK million | 7.9 | 6.9 | 33.1 |
Basic earnings per share, SEK | 0.82 | 0.72 | 3.46 |
Diluted earnings per share, SEK | 0.82 | 0.72 | 3.46 |
Cash flow from operating activities, SEK million | -7.8 | 39.4 | 64.4 |
Equity per share, SEK | 32.08 | 30.92 | 30.44 |
Chief Executive Officer's statement
Signs of stabilisation in the first quarter and improved underlying earnings
Dedicare saw signs of stabilisation in the first quarter with improved progress in Sweden and positive contributions from the acquisition of WeCare of Denmark. There was also an improvement of the underlying profitability of our operations in the quarter. However, appreciation of the Norwegian krone did negatively impact reported EBITA due to revaluation effects.
The group's net sales were SEK 363.3 million in the quarter, corresponding to growth of 3.4 percent on the corresponding quarter of the previous year. Organic growth was -1.5 percent in the quarter. EBITA was SEK 9.3 million (10.4) and the EBITA margin was 2.6 percent (3.0). Adjusted for non-recurring items, EBITA was SEK 10.7 million (10.4), corresponding to an EBITA margin of 2.9 percent (3.0). Excluding currency effects, the contribution from the acquired company and non-recurring items, the EBITA margin was 3.0 percent (2.7).
Sales in Norway were SEK 207.5 million (220.1), a 5.7 percent decrease year on year. EBITA was SEK 9.1 million (13.7), while the EBITA margin was 4.4 percent (6.2) EBITA was negatively impacted by SEK 2.8 million of unrealised exchange rate fluctuations in the quarter. The Norwegian operation maintained good profitability despite an extended period of challenging market conditions. This confirms the strength of our operations and the impact of adaptations made. I'm also delighted that for the fourth consecutive year, Dedicare Norway was recognised as Norway's Workplace of the Year by Great Place to Work.
In Sweden, we reported growth in the quarter while earnings also improved. Net sales increased by 22.6 percent to SEK 84.2 million (68.7), while EBITA increased to SEK 0.4 million (-1.8). Adjusted for non-recurring items, EBITA was SEK 1.2 million. Progress in Sweden was positive in the quarter and the actions executed have started to take effect.
Denmark performed strongly, reporting its best quarter to date, with net sales of SEK 66.3 million (55.3), corresponding a 19.9 percent increase. Organically, sales decreased by 11.2 percent. EBITA was SEK 7.7 million (2.1), and the EBITA margin widened to 11.6 percent (3.8). The healthy earnings are primarily due to positive contributions from the acquisition of WeCare and continued cost adaptation. The acquisition also consolidates our positioning in Danish social work and helps broaden the scope of our business.
The UK market remains challenging; net sales were SEK 9.1 million (12.2), down by 25.4 percent year on year. EBITA was SEK -1.1 million (-0.6). The market for doctor staffing remains pressured, with more intense competition and price pressure, but we also see potential in international recruitment, where we're gradually advancing our position in those parts of the market where demand is progressing more positively.
Overall, there were signs of stabilisation in the first quarter despite market conditions remaining challenging.
Dedicare is well prepared for the coming quarters. Our diversified business, strong positioning on several markets and rationalisation measures executed mean we have good potential to deal with continued uncertainty on our markets, while simultaneously enabling us to exploit the opportunities arising.
In closing, I'd like to offer my warm thanks to all our staff for your commitment and professionalism. You are the foundation of our ability to create value for customers, consultants and wider society.
With our collective competence, strong culture and improved market position, I'm confident about our future.
Bård Kristiansen, CEO and Managing Director
This information is mandatory for Dedicare AB (publ) to publish pursuant to the EU Market Abuse Regulation (MAR) and the Swedish Securities Markets Act. This information was submitted for publication through the agency of the below contact at 8 a.m. CET on 28 April 2026
Bård Kristiansen, CEO & Managing Director, +47 97 08 88 83
Anette Sandsjö, CFO, +46 73 343 44 68
About Dedicare
At Dedicare, we're passionate about adding expertise to healthcare, life science and social work. We're driven by making a responsible and sustainable contribution to people's health, development and quality of life. Dedicare was founded in 1996 and is the Nordic region's largest recruitment and staffing provider. We have operations in Sweden, Norway, Denmark and in the UK. Dedicare is listed on Nasdaq Stockholm and had sales of SEK 1.5 billion in 2025. Each day, we have about 2,000 employees on assignment. We see Europe as our future market, and in time, our vision is to grow into one of Europe's leading recruitment and staffing providers in healthcare, life science and social work.
Read more about Dedicare at https://www.dedicaregroup.com/en/
