Ratos Ab Shs-b Stock Earnings Reports

Ratos delivered a strong Q2 with profitable growth and improved margins while advancing its Ratos 2030 strategy and investment-company model. Key financials: net sales +3.4%, adjusted EBITA SEK 988m (17.3% margin, EBITA +14%), adjusted EPS SEK 1.97 (+20% YoY). Cash performance was strong: underlying cash flow +20%, reported cash flow up ~40%, cash conversion >100%. Net debt/EBITDA fell to ~1.0x (below the 1.5–2.5x target), driven in part by one-off cash items totalling ~SEK 1.6bn (Sentia sell-down ~SEK 650m, Sentia dividend ~SEK 221m, M&A insurance SEK 200m, prior Aibel settlement). Portfolio actions: Sentia reduced from 40% to 31% (gross proceeds ~NOK 650m), continued focus on divesting non-core consumer assets, and selective add-on acquisitions (HL Display acquired UFO Display Solutions; earlier Deinzer acquisition noted). Notable wins and operational trends: major Presis Infra order (NOK 964m for Oslo Gardermoen), continued strong performance at Diab (16% organic growth, margin improvement), LEDiL turnaround signs, Speed revenue growth but margin impact from automation rollout, Aleido and Knightec stabilizing but still facing cautious markets. Management emphasized continued focus on driving profitable, capital-efficient growth, executing divestments of non-core assets, and using the strengthened balance sheet to support platform add-ons and organic investments.