Sweden's I-Tech Q1 net profit rises, warns conflict could hit raw material supply

I-Tech AB

07/05/2026 07:09

Overview

Sweden biotech firm's Q1 net sales fell 7% yr/yr in SEK despite 8% volume growth

Q1 net profit rose 11% to record high, operating profit up 5% yr/yr

Company's Selektope received extended EU regulatory approval through end-2026

Outlook

Company cites strong global newbuilding orderbook but notes slowdown in newbuild ordering in March

I-Tech says geopolitical risks in the Middle East could disrupt raw material supply for antifouling coatings

Company continues to advance innovation projects and pursue new partnership opportunities

Result Drivers

CURRENCY IMPACT - SEK sales declined 7% despite 8% organic volume growth, as weaker USD reduced reported revenue

VOLUME GROWTH - Organic volume growth was 8%, the highest quarterly volume in company history

GROSS MARGIN IMPROVEMENT - Gross margin rose to 60% from 56%, supporting higher operating and net profit

Company press release: ID:nMFN75VvBF

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
SEK 52.72 mln
Q1 Net Income
SEK 15.45 mln
Q1 EBIT
SEK 18.62 mln
Q1 EBITDA
SEK 20.50 mln
Q1 Operating Cash Flow
SEK 9.13 mln


Analyst Coverage

Wall Street's median 12-month price target for I-Tech AB is SEK84.00, about 33.3% above its May 6 closing price of SEK63.00

The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 12 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)