Sweden's NCAB Q4 sales miss estimates on currency headwinds

NCAB AB (publ)

13/02/2026 06:39

Overview

PCB supplier's Q4 net sales rose 9% in SEK, missing analyst expectations

Order intake for Q4 increased 20% in SEK, 37% in USD

Company completed acquisition of Multi-Teknik Mönsterkort AB in Sweden

Outlook

NCAB Group is cautiously optimistic for the start of 2026

Company expects continued expansion in North American market

NCAB plans to continue active M&A agenda with solid cash flow and healthy balance sheet

Result Drivers

ORDER INTAKE GROWTH - Strong growth in order intake across all segments, driven by EV charging, aerospace, defense, and medtech sectors

CURRENCY HEADWINDS - Currency fluctuations negatively impacted SEK figures, but USD growth remained strong

PRE-ORDERING IMPACT - Increased pre-ordering and longer lead times boosted order intake

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Sales
Miss
SEK 901.90 mln
SEK 914.67 mln (3 Analysts)
Q4 Adjusted EPS
SEK 0.28
Q4 Net Income
SEK 52.70 mln
Q4 EBIT
SEK 82 mln
Q4 EBITA
SEK 98.60 mln
Q4 Orders
SEK 1.09 bln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the semiconductors peer group is "buy"

Wall Street's median 12-month price target for NCAB Group AB (publ) is SEK59.00, about 51.9% above its February 12 closing price of SEK38.84

The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 33 three months ago

Press Release: ID:nMFN2Q586f

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(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.)