Bravida Holding AB (BRVDF) Q3 2026 Earnings Report
BRVDF Q3 2026 EPS Results
- Actual EPS
- $0.17
- Consensus EPS
- $0.15
- Beat/Miss
- Beat by +$0.02
- One Year Ago EPS
- $0.12
BRVDF Q3 2026 Revenue Results
- Actual Revenue
- $706.24M
- Expected Revenue
- $698.51M
- Beat/Miss
- Beat by +$7.73M
- YoY Revenue Growth
- +9.23%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/23/2026
- Time
- Before Open
- Conference Call
- Friday, October 23, 2026
Bravida Holding AB's next earnings date is estimated for February 10, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
The call was strongly positive. Bravida reported 9% organic growth, a 34% increase in EBITA, improved margins in all markets, record order intake, an all-time-high order backlog, 110% cash conversion and low leverage. Demand was improving across the base business, data centers, infrastructure and defense, while the company continued to report strong sustainability and safety metrics. The main challenges were restructuring costs, weak housing markets in parts of Sweden and Norway, uncertainty around data center project phasing and staffing capacity, the expected decline in Bypass Stockholm activity, and inflation-related cost risks. The highlights significantly outweighed the lowlights.
Management expects to continue growing in the next quarter, expects margins to continue improving in the coming quarters, and said Denmark should be above 6%, with the 6.1% rolling 12-month margin able to improve a bit more the last quarter; Finland and Norway are expected to receive an impact from large contracts with slightly higher margins in the data center business. Management said growth will continue and will absolutely improve if compared quarter to quarter at least for the first half of next year minimum, expects the market to recover basically all over the geography where the company operates, and said it will increase EPS every quarter going forward for quite a long time. It is getting closer and closer to the margin target of 7%, which could be reached at 7% rolling 12 in next summer or in 2 years, depending on how much the company is growing.
- Strong Group Sales and Organic GrowthQ3 net sales exceeded SEK 7 billion, compared with SEK 6.4 billion last year. Organic growth was 9%, matching Q2, with growth reported across all markets. Management said some currency effects were present and that the Abeka divestment had a negative acquisition-related effect.
- Improved Profitability and Higher EPSGroup EBITA increased 34% to SEK 460 million, while the margin rose 120 basis points to 6.5%. Excluding SEK 8 million of restructuring costs in Sweden, the margin was 6.7%, compared with the 7% financial target. EPS increased from SEK 1.19 to SEK 1.70, and management said profit after tax increased by more than 30%.
- Record Order Intake and BacklogOrder intake increased 72% to above SEK 10 billion, an all-time high. Order backlog increased close to 50% to more than SEK 24 billion, also an all-time high. Management said backlog remained at a record level even after adjusting for the large projects in Norway and Finland and the approximately SEK 500 million effect of the Abeka divestment.
- Broad-Based Margin ImprovementManagement reported improved EBITA margins in all markets. The improvement was attributed to higher volumes, restructuring and turnaround work, stronger business mix, and margin focus. Management expects margin improvement to continue in the coming quarters, although the pace of improvement may lessen.
- Strong Sweden Performance and Order GrowthSweden generated SEK 3.047 billion of sales, up 6% in total and 9% organically, despite the Abeka divestment. Sweden reported a 6.1% EBITDA margin, or 6.4% excluding the SEK 8 million restructuring charge. Order intake increased 47% to close to SEK 4.3 billion, and backlog was close to SEK 9 billion, including an approximately SEK 500 million negative effect from the Abeka divestment.
- Denmark Maintains Strong ProfitabilityDenmark reported sales of SEK 1.929 billion, up 1% year over year despite a very strong comparative Q3 in 2025, when organic growth was 23%. Its EBITDA margin was 7.5%, supported by business selection and the turnaround conducted over almost two years. Order intake increased 30% to SEK 1.853 billion, and backlog was close to SEK 4.6 billion.
- Norway Delivers Double-Digit GrowthNorwegian sales increased 19% to SEK 1.388 billion, consisting of 11% organic growth, a 7% currency effect, and a 1% positive acquisition effect from Nitek. Norway reported a 6.2% EBITDA margin, supported by cost work and higher revenue. Order intake increased 47% to SEK 1.462 billion, while backlog reached SEK 7 billion, up almost SEK 5 billion year over year.
- Very Strong Finland GrowthFinland sales increased 33% organically to SEK 701 million. Management reported positive underlying operations, improved demand across several branches, and strong performance in Inner Finland and other regions. Finland reported a 5.1% EBITDA margin, compared with just over 4% if the Q3 2025 one-off effect had been adjusted. Order intake reached SEK 2 billion, including the large data center order, and backlog was SEK 3.665 billion.
- Data Center Demand and Project WinsBravida said it has won six new data centers in recent months, including projects in Norway, Finland, Sweden and Denmark. The projects cover electrical installation, HVAC, plumbing, cooling and BMS. The company said it has previously delivered more than 200 MW of data centers and views data centers as an established part of its portfolio and an important market going forward.
- Data Center Pipeline Remains StrongManagement said data center demand is accelerating and that the pipeline is strong. Bravida is being selective and aims to work with customers that have the necessary knowledge and project organization. Management said the contracts being secured have healthy margins and that current data center contracts are more supplier-friendly than six or seven months earlier.
- Growth Extends Beyond New Data Center ProjectsManagement estimated that approximately two-thirds of the roughly SEK 470 million quarterly growth came from ordinary or base business, excluding the two large projects in Norway and Finland. Approximately 31% of the growth was attributed to the new data center business. Management also reported improving demand for small and mid-sized installations, infrastructure, defense, industrial projects and larger centers.
- Strong Cash Flow and Balance SheetOperating cash flow was SEK 800 million and cash conversion was 110%. Net debt was SEK 2.564 billion, corresponding to 1.0x net debt to EBITDA including IFRS 16 leasing, and 0.45x excluding leasing. Bravida also has a SEK 2.5 billion revolving credit facility, commercial paper programs of SEK 1.85 billion and SEK 500 million, and a SEK 750 million three-year term loan.
- Share Buyback Program ContinuedBravida repurchased 705 thousand ordinary shares at an average price of DKK 141.79, representing a total of DKK 100 million. The Board decided to continue the third buyback program during Q4, with purchases of up to SEK 100 million before the Q4 interim report.
- Selective Acquisition ActivityBravida completed one acquisition during the quarter, A Östlunds El, strengthening its position around Uppsala and Stockholm. Management described the company as having strong management and good profitability despite tough market conditions. M&A remains the highest priority, supported by Bravida's strong balance sheet, although the company is applying rigorous due diligence and remains selective.
- Improved Safety and Sustainability MetricsThe quarterly LTIFR was 4.9, below the target of 5.5 and improved from the prior year. Electric vehicles represented 51% of the fleet, up from 42% in the same quarter last year. CO2 emissions were down 33% compared with the 2023 base year, while emissions relative to net sales were down 34%.
- Improving Market Outlook and VisibilityManagement said the base market is improving from low levels and expects recovery broadly across the geographies where Bravida operates. Growth is expected to continue and improve year over year at least through the first half of next year. Management also said the high backlog provides a solid platform for long-term value creation.
- Operational Efficiency and Prefabrication InitiativesBravida has started using prefabrication for some data center projects to perform more work off-site. Management said this can be cheaper, more efficient and easier to control for quality. The company is also evaluating shifts, modular approaches and other ways to use resources more efficiently, safely and quickly.
BRVDF Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 10, 2027 | 2026 (Q4) | 0.28- | 0.24 | ― | ― |
| Oct 23, 2026 | 2026 (Q3) | 0.150.17 | 0.12 | 45.21% (+0.05) | |
| Jul 13, 2026 | 2026 (Q2) | 0.160.16 | 0.13 | 24.98% (+0.03) | |
| May 05, 2026 | 2026 (Q1) | 0.110.13 | 0.11 | 12.61% (+0.01) | |
| Feb 18, 2026 | 2025 (Q4) | 0.220.24 | 0.21 | 16.63% (+0.03) | |
| Oct 24, 2025 | 2025 (Q3) | 0.130.12 | 0.1 | 23.83% (+0.02) | |
| Jul 11, 2025 | 2025 (Q2) | 0.140.13 | 0.12 | 13.19% (+0.02) | |
| May 06, 2025 | 2025 (Q1) | 0.110.11 | 0.1 | 13.27% (+0.01) | |
| Feb 11, 2025 | 2024 (Q4) | 0.230.21 | 0.2 | 2.22% (+0.00) | |
| Oct 22, 2024 | 2024 (Q3) | 0.100.10 | 0.12 | -20.58% (-0.03) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.