A strong quarter in a continued challenging market
Second quarter 2026
- Order intake for the rolling 12-month period decreased by 2% to SEK 18,578 million (18,911), with organic growth of 3%.
- Revenues increased by 3% to SEK 4,896 million (4,765), with organic growth of 2%.
- Adjusted operating profit (EBIT) amounted to SEK 519 million (454), with a margin of 10.6% (9.5), and included currency effects of SEK 19 million compared with the same period last year. Excluding currency effects, the adjusted EBIT margin totaled 10.1%.
- Operating profit (EBIT) totaled SEK 715 million (282), with a margin of 14.6% (5.9), and included metal price effects of SEK 199 million (-171) and items affecting comparability related to the targeted measures aimed at strengthening our efficiency and competitiveness, of SEK -3 million (0).
- Adjusted earnings per share, diluted, was SEK 1.57 (1.35).
- Earnings per share, diluted, was SEK 2.19 (0.81).
- Free operating cash flow amounted to SEK 330 million (347).
CEO's comment
Fatal accident at the Sandviken industrial site
I want to express my deep sorrow over the tragic traffic accident that occurred at the Sandviken industrial site at the beginning of the quarter, in which one of our colleagues lost their life. Our thoughts are with our colleague's family, friends and co-workers. This is, and has been, a difficult time for many, and we are doing everything we can to support the individuals and teams affected.
What has happened is a sharp reminder of why our work on health and safety must never lose momentum. Safety is, and must always remain, Alleima's highest priority. We work systematically and with a long-term perspective to strengthen our safety culture, prevent risks and create a working environment where everyone can feel safe. This is work that is never finished and that requires our full commitment, every day.
Market conditions
The quarter showed improved order intake and organic revenue growth. The Kanthal division contributed good organic order growth in the Medical segment, while Industrial Heating continued to show strong development, primarily driven by semiconductors and data centers. We also noted growth in parts of the Oil and Gas segment, where we during the quarter booked our largest-ever order for advanced umbilical tubing, valued at SEK 995 million.
At the same time, the market remained challenging in other parts of our business, where the uncertain external environment is causing customers to postpone investment decisions. As in previous quarters, this was most evident in our short-cycle business within the Chemical and Petrochemical and Industrial segments, primarily in Europe but also to some extent in Asia. In addition to our OCTG business, where in the previous quarter we indicated lower volumes for the full year, we continued to see limited direct impact from the crisis in the Middle East.
Order intake for the rolling 12-month period amounted to SEK 18,578 million (18,911), with organic growth of 3%.
Organic growth and improved profitability
Revenues in the quarter amounted to SEK 4,896 million (4,765), with organic growth of 2%, positively impacted by the Medical and Industrial Heating segments, as well as by good development in seamless titanium tubes for aerospace within the Transportation segment.
Adjusted EBIT amounted to SEK 519 million (454), with a margin of 10.6% (9.5), mainly driven by Kanthal's strong performance, which is contributing increasingly to our resilient margin. We note that more parts of the business contribute to earnings today compared with a few years ago.
Earnings for the quarter included positive currency effects of SEK 19 million compared with the corresponding period in the preceding year. Excluding currency effects, the adjusted EBIT margin amounted to 10.1%.
Free operating cash flow amounted to SEK 330 million (347) in the quarter.
Consistent execution
I am proud that we have continued to execute our strategy consistently, with a focus on profitable growth, while also demonstrating high operational flexibility in an uncertain market environment. The targeted measures initiated in October 2025 to strengthen efficiency and competitiveness contributed positively to earnings by SEK 45 million in the second quarter. In total, these measures are expected to generate annual cost savings of just over SEK 200 million, with full effect toward the end of the year.
At the beginning of June, Tube Mill 2026 in Sandviken was inaugurated, marking the upgrade and reopening of one of Alleima's production facilities for steam generator tubing. The investment increases production capacity by approximately 60% and was completed according to plan. During the remainder of 2026, test runs, qualification processes, and a gradual production ramp-up will be carried out. The facility is expected to contribute increased production volumes from the end of the year, strengthening Alleima's long-term capacity to serve the nuclear industry.
Against the backdrop of the improved order intake, I am cautiously positive regarding the second half of 2026, although the market continues to be characterized by uncertainty that will, in all likelihood, continue to affect us in the coming quarters. We remain focused on executing our strategic priorities and growth investments to strengthen Alleima's long-term value creation.
Göran Björkman,
President and CEO
Conference call and webcast
A webcast and conference call will be hosted on July 17, 2026 at 1 pm CET. More information and a presentation will be available at www.alleima.com/investors
Dial-in details for the conference call
- Sweden: +46 (0) 8 5051 0031
- UK: +44 (0) 203 059 58 63
- US: +1 (1) 631 570 56 13
Link to webcast
-Webcast
Sandviken, July 17, 2026
Alleima AB (publ)
Contact details
Frida Adrian, Head of Investor Relations
frida.adrian@alleima.com
Phone: +46 (0) 70 930 93 24
Yvonne Edenholm, Press and Media Relations Manager
Yvonne.edenholm@alleima.com
Phone: +46 (0) 72 145 23 42
About Alleima
Alleima, is a global manufacturer of high value-added products in advanced stainless steels and special alloys as well as solutions for industrial heating. Based on long-term customer partnerships and leading materials technology, we develop products for the most demanding applications and industries. Our offering includes products like seamless steel tubes for the energy, chemical and aerospace industries, precision strip steel for white goods compressors, air conditioners and knife applications, based on more than 900 active alloy recipes. It also includes ultra-fine wires for medical and micro-electronic devices, industrial electric heating technology and coated strip steel for fuel cell technology for cars, trucks, and hydrogen production. Our fully integrated value chain, from R&D to end-product, ensures industry-leading technology, quality, sustainability, and circularity. Alleima, with headquarter in Sandviken, Sweden, had approximately 6,800 employees and revenues of about 19 billion SEK in about 80 countries in 2025 Alleima is listed on Nasdaq Stockholm under the ticker 'ALLEI'. Learn more at www.alleima.com.
This information is information that Alleima AB (publ) 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 person set out above, at 11.30 AM CEST on July 17, 2026.
