Stable sales and margin development and an increased order backlog
- Net sales increased by 2 (-5) percent to SEK 7,045 (6,888) million, with organic growth being 1 (-6) percent
- The order backlog increased by 7 (-13) percent, to SEK 16,727 (15,586) million
- EBITA increased by 6 (4) percent, to SEK 325 (307) million
- The EBITA margin increased to 4.6 (4.5) percent, with the quarter's margin being affected by restructuring costs of SEK -20 million
- Profit after tax increased to SEK 240 (228) million
- Cash flow from operating activities was SEK 354 (280) million
- Net debt amounted to SEK -2,499 (-2,156) million
- Basic and diluted earnings per share increased to SEK 1.17 (1.11)
CEO statement
Bravida enters 2026 with good momentum, characterised by stable sales growth and margin development, combined with an increased order intake and order backlog. Due to the geopolitical and economic reality market conditions varies. Our strong balance sheet give us operational flexibility. Bravida's well-established market position, including in structural growth areas, provides a stable platform for pursuing long-term value creation.
Stable net sales and positive organic growth
Bravida has started the first quarter of 2026 by showing good momentum. Our broad geographical presence and diversified business model provide resilience and contribute to stability in the current volatile market, which is characterised by geopolitical uncertainty and a cautious investment appetite. Net sales for the quarter increased by 2 (-5) percent and amounted to SEK 7,045 (6,888) million, with organic growth being 1 (-6) percent. Sales in the Swedish operations increased during the quarter, underpinned by strong activity in northern Sweden, while southern Sweden is undergoing a gradual recovery. The operations in Denmark and Finland report stable sales growth, while the Norwegian operations had lower sales due to a still challenging project market.
EBITA growth and stable margin development
EBITA for the first quarter of 2026 increased by 6 (4) percent and amounted to SEK 325 (307) million, corresponding to an EBITA margin of 4.6 (4.5) percent. The improvement in earnings is the result of our focus on strict project selection, good cost control and continuous organisational adjustments. EBITA for the quarter was affected by restructuring costs of approximately SEK -20 million, as previously announced restructuring in the Swedish operations. For the full year 2026, additional restructuring costs of approximately SEK 50-60 million are expected to impact EBITA, with most of the costs expected to be incurred in the second and third quarters of 2026. The EBITA margins in the Group's respective business segments are stable overall. Denmark reports an EBITA margin of 5.0 (3.5) percent, confirming the positive development of that business. The Finnish operations are considered to have good prospects for gradual margin improvement as volume growth increases.
Bravida is monitoring geopolitical developments and their potential impact on material costs and supply chains. The Group has established processes and procedures for risk mitigation, including through index-linked contractual solutions.
Increased order intake and order backlog
Bravida has navigated the current market situation well and increased its order intake for the fourth quarter in a row. The order intake increased by 5 (-1) percent during the quarter, to SEK 8,236 (7,823) million. The order intake increased in Sweden and Finland, while it decreased in Denmark and Norway. The order backlog increased by 7 (-13) percent, to SEK 16,727 (15,586) million, at the end of the quarter.
Strong balance sheet gives operational flexibility
Bravida's good cash flow and low indebtedness provide operational flexibility to optimize our capital structure while continuing to pursue acquisitions. During the first quarter, we did not complete any acquisitions. In April 2026, as previously communicated, we divested ABEKA EL och Kraftanläggningar AB because ABEKA's business is not aligned with Bravida's core business. The divestment is expected to generate a positive net cash flow of approximately SEK 200 million in the second quarter of 2026 and to impact earnings of approximately SEK 160 million. After the balance sheet date, the Board of Directors resolved to implement a share buyback program of up to SEK 100 million, running from 6 May to 9 July 2026.
The health of our employees is of prime importance
Bravida has a long-term perspective to its sustainability efforts, in order to help influence society in the right direction and to be an attractive and responsible employer. It goes without saying that we want our employees to feel good at work and not get injured. We work proactively with training and preventive measures to reduce our occupational injuries, and the LTIFR was 5.0 (5.6) at the end of the quarter.
Variable market conditions with stable and structural demand
The world around us is volatile and therefore difficult to assess. However, my assessment is that the market for installation projects stabilised during last year, which is also evident from our increased order intake and order backlog. The service market is less cyclical and we are seeing continued stable development there. There is underlying and structural demand in the form of investments in installations relating to data centres, defence facilities, transport infrastructure and electrification and digitalisation, which I believe will have a positive effect on demand in the coming years.
Bravida's well-established market position, including in these structural growth areas, provides a stable platform for continuing to pursue long-term value creation.
Mattias Johansson
CEO and Group President
The report will be presented at 09:30 CEST by CEO and Group President Mattias Johansson and CFO Petra Vranjes. The presentation will be held in English and can be followed online or by phone. There will be room for questions in the telephone conference.
Link to webcast:
https://bravida.events.inderes.com/q1-report-2026/register
Telephone conference:
To participate in the conference call, please register via this link:
https://events.inderes.com/bravida/q1-report-2026/dial-in
After registration, you will be provided with telephone numbers and a conference ID to access the conference. There will be room for questions in the telephone conference.
The report and presentation will be available at:
https://investors.bravida.com/en/reports-and-presentations
For further information, please contact:
Ann-Charlotte Johansson, Interim Head of Investor Relations
Telephone: +46 70 751 98 31
E-mail: ann-charlotte.johansson@bravida.se
This disclosure contains information that Bravida Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 5 May 2026, 07:30 CEST.
Good properties make a difference - that's why Bravida exists. As one of the Nordic region's leading suppliers of end-to-end technical solutions in service and installation, we help our customers create effective and sustainable properties.
Bravida's long-term goal is to be carbon-neutral throughout the value chain by 2045. We have 13,000 employees and a presence in about 200 locations in Sweden, Denmark, Norway and Finland. Bravida's shares are listed on Nasdaq Stockholm. www.bravida.com
