LINK Mobility Group Holding ASA

Latest Results (01.09.2026):

LINK Mobility Group Holding ASA — Q2 2026: LINK reported a strong quarter with revenue up 17% to NOK 2,050m, gross profit up 16% to NOK 492m and adjusted EBITDA up 28% to NOK 272m. Organic metrics showed a return to organic gross profit growth (+2%) and organic revenue +3% (fixed currency), while management expects accelerating organic gross profit and improved organic adj. EBITDA in H2 2026.

Top-line and margins

Revenue: NOK 2,050m (+17% YoY). Gross profit: NOK 492m (+16% YoY). Adjusted EBITDA: NOK 272m (+28% YoY) with an adj. EBITDA margin of 13.3% (reported).

Organic performance

Organic gross profit returned to growth at +2% in Q2'26 (stable FX). Organic revenue in fixed currency +3%. Organic adjusted EBITDA was slightly down (~-1%, NOK -3m) as gross profit gains were largely offset by higher operating expenses.

Commercial momentum

Record contract wins of NOK 53m in gross‑profit contribution for the quarter, with strong demand across SMS and CPaaS; CPaaS accounted for ~42% of contract wins (NOK 22m).

OTT adoption

OTT volumes showing rapid scale: WhatsApp volumes +194% YoY and RCS volumes +112% YoY, supporting improved revenue mix and gross profit quality.

Cash flow and balance sheet

Operating cash flow: NOK 192m for the quarter. Cash and cash equivalents: NOK 764m at quarter‑end. Non‑current assets increased (goodwill/intangibles from recent acquisitions); total equity NOK 5,360m (~52% of assets).

Leverage & capital allocation

LTM net leverage ~1.9x (vs 1.1x prior year). LINK completed share repurchases (repayment of equity ~NOK 300m YTD) and drew EUR 20m on the RCF in Q2; management continues to prioritise accretive M&A, organic investment and shareholder returns under a disciplined capital allocation framework.

M&A and strategic moves

Quarter included completion of bolt‑on acquisitions KPM Solutions (Italy) and Web2SMS (Romania). Recent and prior add‑ons (SMSPortal, FireText, SMS Works, etc.) materially contributed to reported gross profit and adj. EBITDA.

Profitability items & one-offs

Reported EBITDA after non‑recurring items: NOK 252m. Non‑recurring costs in Q2 were ~NOK 20m (acquisition, restructuring, share‑option related). Depreciation & amortisation increased following acquisitions.

Guidance / management outlook

Management expects organic gross profit growth to accelerate into H2 2026 (mid‑ to high‑single digit) and an improvement in organic adj. EBITDA growth as gross profit growth accelerates and operational leverage kicks in.

Customer metrics

Net retention improved to ~101%, and enterprise gross profit momentum strengthened across Northern and Central Europe, supporting the outlook for higher‑quality, software‑led engagement solutions.