Ratos AB

RATO B

Equity

ISIN SE0000111940 / Valor 614099

NASDAQ Nordic Exchange Stockholm, Equities (2026-09-01)

SEK 38.44+1.00%

Ratos AB
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About company

Ratos AB is a Stockholm‑based, publicly listed investment company that acquires and develops medium‑sized Nordic businesses across industrial, service and consumer sectors. Acting as an active owner, it takes majority and significant minority stakes in portfolio companies, providing capital, board-level governance and operational support aimed at improving growth and profitability before exiting through trade sales or public listings. Its approach combines financial stewardship with strategic and management resources to professionalise and scale businesses rather than operating them directly.

Summarized from source with an LLMView SourceSector: Finance

Key Q2 2026 financials

Net sales: SEK 5,703m (5,594). Adjusted EBITA: SEK 988m (867). Adjusted EBITA margin: 17.3% (15.5). Operating profit: SEK 1,345m (834) — Q2 impacted by items affecting comparability of +SEK 387m. Profit for the period: SEK 1,097m (555). Diluted EPS: SEK 3.15 (1.49); adjusted diluted EPS: SEK 1.97 (1.45). Cash flow from operating activities (Q2): SEK 1,519m (reported comparatives in the report).

Profitability and special items

Reported operating profit and net profit were materially helped by items affecting comparability in Q2 (+SEK 387m), mainly the divestment of Sentia shares and insurance compensation. Adjusted EBITA (ex‑items) rose 14% year‑on‑year, reflecting improved underlying performance across several portfolio companies and associates (notably Sentia and Aibel).

Cash flow and balance‑sheet metrics

Strong cash generation: operating cash flow in Q2 was SEK ~1.5bn and for Jan–June SEK 1,541m. Financial position remains solid: interest‑bearing net debt (incl. leases) and leverage are moderate — leverage excl. financial leasing was 0.8x and adjusted leverage excl. leasing 1.0x at quarter end.

Significant transactions in/after the quarter

On 2 June Ratos sold 9 million Sentia shares (≈9% of shares/votes) for ~NOK 652m gross; the transaction generated an earnings effect of ~SEK 200m and reduced Ratos’ holding to ~31% while keeping Ratos the largest shareholder. Ratos also received SEK 200m in insurance compensation related to Expin Group. HL Display signed to acquire UFO Display Solutions (closed 1 July 2026).

January–June 2026 (YTD) snapshot

YTD net sales: SEK 10,199m (10,066) with 3.4% organic growth. Adjusted EBITA YTD: SEK 1,405m (1,212) — margin 13.8% (12.0). Profit for the period YTD: SEK 1,344m (790). Adjusted diluted EPS YTD: SEK 2.64 (1.61); diluted EPS YTD: SEK 3.74 (2.03).

Portfolio performance and strategy

Ratos highlights broad portfolio improvement — organic growth, margin expansion and cash flow across several holdings (Diab, HL Display, Plantasjen, Aibel among others). Management reiterates execution of the Ratos 2030 strategy: active, long‑term ownership, selective add‑on acquisitions and strengthening boards/industry expertise.

Summarized from source with an LLMView Source

Key figures

8.96%1Y

12.1%3Y

-33.3%5Y

Performance

27.1%1Y

30.3%3Y

33.8%5Y

Volatility