Hacksaw Approves Share Buyback Program Capped at €20 Million Over Three Months
Key Facts
Hacksaw’s board approved a share buyback program of up to €20 million on November 3, 2026, under the authorization granted by the annual general meeting held on April 27, 2026. The decision allows purchases in the market over a period of three months from the announcement date. The program caps total purchases at €20 million, while the company’s holding of its own shares after any purchase must remain at 10% or less of total shares outstanding. The company said the shares bought back may be used to finance future stakes in companies or businesses, future incentive programs, or to adjust and optimize its capital structure. The announcement did not specify a direct cash allocation to shareholders among the program’s purposes.
Purchases will be made on Nasdaq Stockholm in accordance with Nasdaq Nordic’s Main Market rules for equity issuers. The purchase price is limited to the share’s registered trading range on the exchange at the time of each transaction, according to the company’s announcement. The decision allows purchases in a single transaction or on multiple occasions during the specified three months. The €20 million cap means actual purchases may be below the announced limit, as they remain subject to the company’s decision and trading conditions during the period. The 10% treasury shareholding limit also remains a constraint on the total Hacksaw may hold after purchases.
Hacksaw had 289,195,987 shares in issue when the announcement was made, and the company said it held no treasury shares at that time. These figures provide a reference point for the size of its treasury shareholding before the program begins. The buyback announcement coincided with the release of third-quarter results, which showed revenue rising to €58.105 million in the period from July to September 2026, from €52.011 million in the corresponding period of 2025, an increase of 12%. Adjusted operating profit rose to €48.325 million from €42.081 million, marking annual growth of 15%. The adjusted operating profit margin increased to 83%, compared with 81% in the third quarter of the previous year.
For the first nine months of 2026, revenue rose 23% to €175.010 million, compared with €142.384 million in the corresponding period a year earlier. Adjusted operating profit over the same period increased 24% to €144.204 million, compared with €116.462 million. Cash flow from operating activities was €52.168 million in the third quarter, against €36.708 million a year earlier, an increase of 42%. The financial report said cash and cash equivalents totaled €148.2 million on September 30, 2026, compared with €87.8 million on the corresponding date in 2025. The report said the company had no interest-bearing debt.
On the third-quarter results call, the chief executive said the slowdown in revenue growth reflected weak market conditions and game mix. The company left its long-term targets unchanged: annual revenue growth above 30% and an adjusted operating profit margin above 80%. Management stressed that these are long-term targets, not a promise to achieve the rates in every quarter. It also expected game mix to stabilize in the coming months after revising its development roadmap. It said the revision could affect performance in the short term, while the expected normalization of the mix is tied to the coming months.
Hacksaw shares closed at 56.25 Swedish kronor on Nasdaq Stockholm on November 3, down 2.51% during the session. The financial report set February 16, 2027, as the expected publication date for the fourth-quarter interim report. It also gave April 27, 2027, as the expected date for the first-quarter interim report. The two report dates are among the company’s upcoming milestones following its third-quarter results and buyback decision. The program remains available for execution during the three months that began on November 3, subject to the announced financial cap and shareholding limit.