Bouvet Sales Fall 24.4% as Swedish Companies Post Mixed Third-Quarter Results
Key Facts
Bouvet Diagnostics' net sales fell to 96.2 million Swedish kronor in the third quarter of 2026, down 24.4% from 127.2 million kronor in the same period of 2025. The company said organic sales growth was negative 19.4%, while foreign exchange effects reduced sales by 5.0%. The decline flowed through to the bottom line, with the company posting a net loss of 2.5 million kronor, compared with a profit of 10.9 million kronor a year earlier. Loss per share was 0.06 kronor, after earnings per share of 0.28 kronor in the comparable period. The figures reflect a decline in sales and profitability, but the company kept its gross margin close to its level a year earlier.
Bouvet's gross profit was 39.5 million kronor, with a gross margin of 41.1%, compared with gross profit of 52.4 million kronor and a margin of 41.2% in the third quarter of 2025. Adjusted operating profit, meanwhile, turned into a loss of 4.5 million kronor, from a profit of 12.0 million kronor in the comparable period; the adjusted operating margin fell to negative 4.7% from 9.4%. The number of units sold fell 56.5% to 363, compared with 834 a year earlier. The company attributed limited deliveries to component shortages and said demand was weak during the quarter. It said the weakness was particularly pronounced in five-part human and veterinary analyzers, amid caution among government and private-sector customers across several markets.
Bouvet said payment and currency restrictions also affected some markets in the Middle East and Africa, alongside component shortages and weak demand. The supply problem had not been resolved when the company prepared its report, which warned that supply disruptions could continue during the fourth quarter. The company said: "The component shortage has not been resolved; there is a risk that disruptions will also affect the fourth quarter." The warning puts continued delivery constraints among the factors the company will monitor in the next period, without specifying the potential scale of their impact. Bouvet's results are one case among several companies' results and do not alone represent a broader trend among Scandinavian companies.
In other results, Guideline Geo said its profitability trend improved thanks to systematic cost control and a restructuring of its U.S. operations. Its chief executive said: "The positive trend is the result of systematic cost control and restructuring our U.S. operations." Evin Platformen said its revenue in the first nine months of 2026 exceeded three times its level in the comparable period and reached its highest level in more than 15 years. The company said it posted a positive operating result and a net result close to break-even, while quarterly revenue rose despite a net loss during the quarter. The results highlight divergent paths among the companies, with sales falling at Bouvet and Guideline Geo, while Evin's revenue grew and Guideline Geo's profitability improved.
Evin attributed a large share of its quarterly revenue to a satellite project in which it leads a consortium and contracts directly with the customer, while the other project members invoice the company. It said project revenue is recognized when milestones are reached, linking the timing of recognition to progress at those stages. The company said some of its discussions with potential customers entered a quieter phase during the quarter as it awaited their internal decisions. In the project, it is working toward the next milestone, according to the company. Its calendar set the publication of its 2026 annual report for 12 February 2027.