EL7.AI
StocksMedium•15 November 2026•
3 min read

Fasadgruppen Reports Q3 EPS of SEK 0.84, Below Inderes Estimate

Key Facts

1Earnings per share was SEK 0.84, compared with Inderes’ estimate of SEK 0.86 and SEK 0.58 a year earlier.
2Specialist Solutions sales rose to SEK 555.5 million, while Total Solutions sales fell to SEK 726.6 million and Clear Line sales to SEK 132.4 million.
3Net debt to EBITDA was about 3.3 times at the end of the third quarter.
4The company postponed a potential issue of senior secured bonds worth approximately SEK 1,250 million.
5The stock closed at SEK 17.52 on November 13, down 5.30%.

Fasadgruppen reported earnings per share of SEK 0.84 in the third quarter of 2026, below Inderes’ estimate of SEK 0.86 but up from SEK 0.58 in the year-earlier period. Inderes said the figure was slightly below its forecast, while reflecting clear year-on-year improvement. That puts the earnings result close to the analyst’s estimate, rather than the 13% gap cited in an earlier report. Commenting on the quarter, management described financial performance as stable and said activity at subsidiaries remained high. It added that performance was in line with the previous year, with signs of a cautious recovery emerging despite uncertainty over interest rates and economic conditions.

Performance varied across segments: Specialist Solutions sales rose to SEK 555.5 million from SEK 508.4 million in the year-earlier quarter, while Total Solutions sales fell to SEK 726.6 million from SEK 731 million. Clear Line sales declined to SEK 132.4 million from SEK 141.8 million. According to Inderes, organic growth in Specialist Solutions was about 12.1%, and the unit’s sales reached SEK 556 million, compared with the analyst’s estimate of SEK 527 million. Inderes attributed a large part of the performance to Finland, where the unit’s sales more than doubled year on year to SEK 118 million. Specialist Solutions was therefore the main source of strength among the activities cited, while the other two segments recorded lower sales than a year earlier.

On financing, net debt to EBITDA was about 3.3 times at the end of the quarter, the same level as at the end of the previous quarter. Inderes said the ratio remained below the covenant threshold of 3.50 times applicable at the end of the third and fourth quarters of 2026. However, it is above the later threshold of 3.00 times, making the leverage trajectory a focus for the coming periods. In the first nine months, the change in working capital was negative SEK 73.9 million, compared with negative SEK 39.3 million a year earlier. The company attributed the difference to more projects starting than being completed during the period, after project launches in the north were delayed by the cold first quarter.

The company postponed a potential issue of senior secured bonds worth approximately SEK 1,250 million after beginning investor meetings during the quarter, then decided to wait because of prevailing market conditions. Fasadgruppen does not provide formal financial guidance, according to Inderes. The company said it sees signs of a cautious recovery in demand, while competition remains high in several markets. Management’s priorities include operational excellence, cash flow and profitable growth, alongside greater selectivity in acquisitions. The stock closed at SEK 17.52 on November 13, down 5.30% from the previous session’s close of SEK 18.50; the company is scheduled to publish its year-end report on February 17, 2027.