Karnell Group AB ser. B (KARNEL_B) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning all and welcome to Canell's first quarter of 2026 earnings webcast. I'm Petter Wallenius, CEO of Canell and with me today I have our new CFO Niklas Svensson. As usual we'll begin with an overview of the quarter and how our strategy continues to drive profitable growth. Niklas will then walk you through the financials and segment performance in more detail After that, I'll return to present the two acquisitions we have completed during and just after the quarter before we wrap up and take key takeaways and open the floor for your questions. For those of you who are joining us for the first time, Carnell is an active and long-term owner of industrial technology companies. We focus on acquiring small to medium-sized businesses with strong positions in niche markets. We are guided by a disciplined acquisition strategy that prioritizes quality and industrial leadership. Following our most recent acquisition, Carnell now comprises of 20 companies across Finland, Sweden, the UK, and for the first time, I'm happy to say, in Italy, employing roughly now 800 people. As always, our goal is transparency and focus, highlighting what matters most to value creation in our group. And with that, let us turn to the Q1 results. We started 2026 with a strong quarter, delivering broad-based organic growth, margin expansion and a clear step up in cash generation. Net sales increased by 27% to 457 million SEK with an organic growth of 13.1%. That is the strongest organic quarter we've had and delivered since we became a listed company. EBITDA rose 73% to 66 million corresponding to an EBITDA margin of 14.5% up from 10.7 a year ago. Importantly, organic EBITDA growth was 43%, so the margin expansion is real and operationally driven, not just a mixed effect from acquisitions. Ca...