Finland's Incap Q4 revenue falls, expects Lacon acquisition to boost defense sector position

Incap Oyj

26/02/2026 07:41

Overview

Finland electronics manufacturer reported Q4 2025 revenue down 6.7% yr/yr

Adjusted EBIT for Q4 2025 decreased 10.2% yr/yr

Company completed acquisition of Lacon Group, expanding defense sector capabilities

Outlook

Incap estimates 2026 revenue and comparable EBITA will be higher than 2025

Company expects Lacon acquisition to boost defense sector position

Incap anticipates continued market uncertainty in 2026

Result Drivers

EXCHANGE RATE IMPACT - Co reported a negative impact of EUR 6.6 mln on revenue due to exchange rate fluctuations

LACON ACQUISITION - Acquisition of Lacon Group strengthens position in defense sector and expands design capabilities

TECHNOLOGY INVESTMENTS - Co invested in technology upgrades across global operations to support growth

Company press release: ID:nMFNmdqP5

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
EUR 55.30 mln
Q4 Net Income
EUR 5.10 mln
Q4 Adjusted EBIT
EUR 8 mln
Q4 EBIT
EUR 6.90 mln


Analyst Coverage

The one available analyst rating on the shares is "strong buy"

The average consensus recommendation for the electrical components & equipment peer group is "buy."

Wall Street's median 12-month price target for Incap Oyj is €12.00, about 20% above its February 25 closing price of €10.00

The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 13 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.)