The second quarter of 2026 was characterized by resilient profitability despite a subdued market environment, maintaining the positive earnings momentum established in the first quarter, alongside continued acquisition activity and strategic progress through the acquisition of Malte Månson.
APRIL-JUNE 2026
•Reported total revenue amounted to SEK 1,075.8 million (645.0), an increase of 66.8%. Reported adjusted EBITDA amounted to SEK 180.8 million (76.0).
•LFL total revenue amounted to SEK 1,077.5 million (1,065.9), an increase of 1.1% (1.8% in constant currencies). LFL adjusted EBITDA amounted to SEK 188.8 million (184.8), an increase of 2.2%.
•During the quarter, Citira Group issued additional secured senior bonds in the amount of SEK 260 million, as well as an EUR 60 million inaugural EUR-denominated senior secured bond.
•During the quarter, three acquisitions were announced in Sweden, including Malte Månson, Sweden's leading independent truck and bus maintenance provider.
•After the end of the reporting period, we announced four additional acquisitions in Sweden and one in Finland.
JANUARY-JUNE 2026
•Reported total revenue amounted to SEK 1,708.4 million (1,054.1), an increase of 62.1%. Reported adjusted EBITDA amounted to SEK 158.4 million (64.8).
•LFL total revenue amounted to SEK 1,745.9 million (1,714.4), an increase of 1.8% (3.4% in constant currencies). LFL adjusted EBITDA amounted to SEK 193.1 million (165.2), an increase of 16.9%.
•Net debt amounted to SEK 2,909.4 million at the end of the period, corresponding to 5.30 times LFL adjusted EBITDA.
•Citira has, during the first six months of the year, issued secured senior bonds in the amount of SEK 680 million and EUR 60 million.
•During the first six months, we completed eleven acquisitions; seven in Sweden, two in Finland, one in Norway, as well as entered the market in United Kingdom through one.
Resilient performance in a challenging market
Market conditions remained challenging during the second quarter, with continued inflationary pressure, higher fuel costs and cautious customer demand across several markets.
Against this backdrop, the Group delivered resilient financial performance. On a like-for-like basis, revenue increased by 2% in constant currencies (1% in SEK), supported by price adjustments and targeted commercial initiatives. Due to an early seasonal start, part of the demand was brought forward into the first quarter, affecting the year-on-year comparison.
Like-for-like (LFL) adjusted EBITDA increased by 3% compared with the same quarter last year, reflecting disciplined cost management, successful pricing initiatives and continued benefits from operational improvement programs. For the first six months, LFL adjusted EBITDA increased by 17%, demonstrating the strength of our commercial execution, operational efficiency initiatives and synergy realization.
Continued operational improvements
In Sweden, revenue increased by 4% on a like-for-like basis despite a moderate market following the early seasonal start. Profitability remained stable as turnaround initiatives and synergy realization programs strengthened the business. We also continue to expand our service network through add-on acquisitions.
Finland continued to demonstrate resilient performance despite intense competition. Revenue increased by 2% in constant currencies, supported by commercial initiatives. Pricing actions and the profit improvement program supported margin expansion, while the opening of a new greenfield service point in Pirkkala strengthened our local presence.
In Poland, market conditions remained challenging as the transportation sector adjusted to higher operating costs and weaker freight demand. Revenue increased by 4% in constant currencies, supported by continued growth in distribution. Although quarterly profitability was affected by higher fuel costs, efficiency initiatives continue to strengthen the business.
In the United Kingdom, revenue growth of 6% in constant currencies was supported by infrastructure projects and national accounts. Profitability remained affected by higher fuel costs, while organizational investments strengthened the platform for future expansion.
Norway continued to operate in a cautious market environment, with revenue decreasing by 6% in constant currencies. During the quarter, we onboarded our first service point acquisition through Dekkservice Kvinesdal, an important step in establishing a broader service network.
Strategic expansion and strengthened platform
Acquisitions remain a key part of Citira's growth strategy. During the quarter, we completed two bolt-on acquisitions across Sweden.
We also announced the acquisition of Malte Månson, Sweden's leading independent truck and bus maintenance provider. The combination expands our offering to heavy vehicle fleets through complementary tire management and vehicle maintenance services, creating opportunities for cross-selling, synergies and long-term growth.
To support expansion, we strengthened our financing platform through both a SEK-denominated tap issue and our inaugural EUR-denominated senior secured bond. While leverage remains elevated following acquisition-led growth, we continue to focus on strengthening cash generation, reducing working capital and gradually improving leverage over time.
Outlook - continued focus on execution and profitable growth
Looking ahead, we expect the macroeconomic environment to remain uncertain, with continued volatility and elevated input costs. The third quarter is seasonally slower before activity increases ahead of the important fourth quarter tire change season.
Our priorities remain clear: strengthening our commercial position, improving operational efficiency, realizing synergies and integrating acquired businesses, while preparing for the integration of Malte Månson. We continue to see an attractive pipeline of acquisition opportunities across existing and new markets.
With a stronger operational platform, improving profitability and a clear strategic direction, we remain well positioned to continue building the leading customer-centric challenger in tire management and adjacent vehicle services across Europe.
David Boman
CEO
For further information, please contact:
David Boman, CEO, +46 70 508 84 99
Jonas Söderkvist, CFO, +46 705 78 50 64
Forward-looking information
Some statements in this report are forward-looking and the actual outcome may be significantly different. In addition to the factors specifically highlighted, other factors may have a material impact on the actual outcome. Such factors include, but are not limited to, the general economic situation, changes in exchange rates and interest rates, political developments, the impact of competing products and their prices and disruptions in the supply of materials.
Financial calendar
Interim Report January - September 2026, 12 November 2026
Year-end Report 2026, 25 February 2027
About Citira
Citira is a sustainable tire management provider. We provide lifespan-extending tire service, repair & reuse of worn tires and rims, as well as tire replacement.
Citira strives to make tire management convenient and sustainable for vehicle fleets and users. Our company supports customers in gaining more uptime, reducing environmental impact, lowering costs, and meeting safety requirements.
Citira consists of 150+service points, 5 retreading sites, 1,200+ employees and inhouse logistics covering the Nordics, UK & Poland. Our mission is to keep society moving in a convenient, sustainable way.
More information about Citira is available at www.citira.com.
This information is information that Citira Holding AB 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 2026-08-13 08:10 CEST.
