Sweden's I-Tech Q2 net sales jump 86% on customer demand
21/08/2026 07:11
((This story was generated using AI and automation, please see disclaimerhttps://bit.ly/rtrsnai )) Overview * Sweden biotechnology firm's Q2 net sales rose 86% yr/yr * Q2 operating profit and net income increased sharply from prior year * Growth driven by higher customer demand and adoption of Selektope-based solutions Outlook * Company says supportive shipping market conditions continue to drive customer demand * I-Tech continues to engage with EU regulators on Selektope’s market approval, with a decision likely in Q4 * Company remains focused on supporting customer growth and advancing regulatory and business development activities Result Drivers * CUSTOMER DEMAND - Co said strong sales and profit growth were driven by increasing customer demand and adoption of Selektope-based antifouling solutions * KEY CUSTOMER GROWTH - Co reported organic sales growth with CMP, Jotun and PPG, and noted a significant customer with prior financial difficulties recorded 91% organic sales growth year to date * CURRENCY HEADWIND - Co said a moderately stronger Swedish krona against the US dollar provided a slight currency headwind on reported revenues Company press release:ID:nMFN8hCjRf Key Details Metric Beat/Mis Actual Consensu s s Estimate Q2 Sales SEK 58.67 mln Q2 Net SEK Income 17.40 mln Q2 EBIT SEK 21.40 mln Q2 SEK EBITDA 23.26 mln Q2 SEK Operatin 23.63 g Cash mln Flow Analyst Coverage * Wall Street's median 12-month price target for I-Tech AB is SEK77.00, about 9.4% above its August 20 closing price of SEK70.40 * The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 13 three months ago Reuters Recommended Reads * Aug 20 - Sweden's SenzaGen Q2 revenue rises, core loss narrows * Aug 21 - Sweden's Egetis Q2 revenue rises 23% * Aug 20 - Sweden's Ascelia Pharma Q2 operating loss narrows For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact . (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)