First quarter highlights
- Revenue increased by 5.6 per cent to MSEK 2,358 (2,232). Organic growth was 4.9 per cent.
- Gross margin was 40.8 per cent (40.9).
- Adjusted EBITA increased to MSEK 113 (74), corresponding to an adjusted EBITA margin of 4.8 per cent (3.3).
- Operating profit increased to MSEK 79 (37) and the operating margin increased to 3.4 per cent (1.7).
Operating profit was charged with items affecting comparability of MSEK -16 (-19). - Profit amounted to MSEK 43 (17).
- Earnings per share amounted to SEK 0.86¹ (0.34¹).
- Cash flow from operating activities amounted to MSEK 209 (-38).
1) Before and after dilution.
Significant events during the first quarter
- The Board of Directors appointed the company’s CFO, Irene Wisenborn Bellander, as Deputy CEO. Irene is also remaining in her role as CFO.
- In February, the business was refinanced and the credit facility with Handelsbanken was increased by MSEK 500 to a total of MSEK 3,100. The new facility runs until February 2029, with the option to extend twice for one year at a time.
- Alligo was awarded Platinum by EcoVadis, one of the world’s leading platforms for corporate sustainability assessments. The distinction places Alligo within the top 1 per cent of all evaluated companies.
- The Board of Directors appointed Samuel Alteborg as the new President and CEO of Alligo. Samuel joins from his most recent position as CEO of Cramo and takes up the post on 1 June. Clein Ullenvik is remaining in his role as CEO until then.
Events after the end of the period
- On 15 April, Alligo signed agreements to acquire 100 per cent of the shares in Svets & Robotteknik i Småland AB and Svetsexperten i Kalmar AB. The companies have operations in Växjö, Vetlanda and Kalmar and together generate annual revenue of MSEK 56 and have 15 employees. Closing is expected in May.
- On 23 April, a decision was made to acquire land neighbouring the logistics centre in Örebro and to begin an expansion that will support continued highly efficient logistics in line with future growth.
Comments from the CEO
“Sales have remained our top priority and we are seeing the results of this in the positive trend for organic growth and improved profit in recent quarters.”
“We also continue to acquire companies and in April we signed agreements to acquire Svets & Robotteknik i Småland AB and Svetsexperten i Kalmar AB.”
“After the end of the quarter, a decision was made to acquire land neighbouring the logistics centre in Örebro and to begin expansion there. … The new land is an important investment that future‑proofs Alligo and enables continued highly efficient logistics in line with future growth.”
Presentation of the interim report for the first quarter 2026
Alligo publishes its interim report for the first quarter 2026 on Friday, 24 April 2026, at 08:00 a.m. CEST. In conjunction with this, Alligo is pleased to issue this invitation to a webcast conference call in which Group President & CEO Clein Johansson Ullenvik and CFO & Deputy CEO Irene Wisenborn Bellander will present the report and answer any subsequent questions. The presentation will be held in English.
Date and time: Friday, 24 April 2026 at 11:00 a.m. CEST
Web link: https://www.alligo.com/en/report/q1-2026/
Telephone conference: https://register-conf.media-server.com/register/BI698b3126165a407eb612dff2c1a58d99
To participate in the conference call, you need to register via the link above before the conference starts. When you register, you will receive a phone number and a personal code.
Key figures
| Group | 2026 JAN–MAR |
2025 JAN–MAR |
31/03/2026 12 months to |
2025 JAN–DEC |
| Revenue, MSEK | 2,358 | 2,232 | 9,677 | 9,551 |
| Gross profit, MSEK | 962 | 913 | 3,972 | 3,923 |
| Gross margin, % | 40.8 | 40.9 | 41.0 | 41.1 |
| Operating profit, MSEK | 79 | 37 | 513 | 471 |
| Operating margin, % | 3.4 | 1.7 | 5.3 | 4.9 |
| Adjusted EBITA, MSEK | 113 | 74 | 654 | 615 |
| Adjusted EBITA margin, % | 4.8 | 3.3 | 6.8 | 6.4 |
| Return on equity, % | 8 | 7 | ||
| Equity per share2, SEK | 77.18 | 72.88 | 77.18 | 74.89 |
| Equity/assets ratio, % | 39 | 38 | 39 | 39 |
| 1) Before and after dilution. | ||||
| 2) Refers to equity attributable to the Parent Company’s shareholders. | ||||
Message from the CEO
Clein Johansson Ullenvik, Group President and CEO
Sales have remained our top priority and we are seeing the results of this in the positive trend for organic growth and improved profit in recent quarters.
he year began well, as the trend of organic growth, increased profit and improved cash flow continued and strengthened. We have seen positive signs on the market during the quarter, although we are still waiting for a definitive upturn. Our organic growth and profit show, however, that Alligo is able to achieve profitable growth on a weak but stable market.
Over the past few years, we have become accustomed to navigating through uncertain times. The war in the Middle East has increased global economic uncertainty, although the direct impact on Alligo has so far been limited. What we have seen, though, are price increases being announced, particularly for products containing oil, such as plastic and polyester. Historically, we have been able to pass on such price increases promptly to a great extent. Right now, we have teams in place in Asia involved in positive dialogue with our suppliers to mitigate the situation as best we can.
Continued trend of organic growth and improved profit
Revenue for the first quarter was MSEK 2,358 (2,232), an increase of 5.6 per cent. The number of trading days was the same as in the comparison quarter and currency translation effects had an impact on revenue of -1.8 per cent.
Organic growth for the quarter was 4.9 per cent (-2.5) and growth through acquisitions was 2.5 per cent (7.8).
Market demand remained stable and sales at the beginning of the quarter benefited from the cold, snowy winter. A cautious market, however, meant that the positive effects were limited as customers tend to buy only what they need.
Growth was good in Sweden, partly as a result of a strong focus on sales and partly because of a weaker comparative period. In Norway, the trend from Q4 2025 persisted, with slightly more dampened activity within the oil and gas sector, which has otherwise been strong for a long period. In Finland, growth benefited from a recovery among larger industrial customers and new customers.
Adjusted EBITA for the quarter increased to MSEK 113 (74) and the adjusted EBITA margin increased to 4.8 per cent (3.3).
The improvement in profit is driven mainly by increased sales volumes and cost adjustments.
In Finland, the efficiency project is progressing according to plan and the cost-cutting measures implemented have had a good impact on profit. Despite two large customer relationships ending during the quarter, as previously announced, operations in Finland have compensated for this with increased volumes to other customers.
Ready for growth
During this weak economic situation, we have continued to invest in driving growth and building the company for the future. Sales have remained our top priority and we are seeing the results of this in the positive trend for organic growth and improved profit in recent quarters.
We also continue to acquire companies and in April we signed agreements to acquire Svets & Robotteknik i Småland AB and Svetsexperten i Kalmar AB. These two companies together generate annual revenue of approximately MSEK 56 and have profitable welding operations in Växjö, Vetlanda and Kalmar. These acquisitions contribute specialist expertise in traditional welding services and robotised welding solutions and make a fine addition within a technology area in which we hold a leading position in the Swedish market.
After the end of the quarter, a decision was made to acquire land neighbouring the logistics centre in Örebro and to begin expansion there. The new land covers a total area of around 40,000 square metres and provides opportunities for expansion in Örebro, which is rapidly being developed into a Nordic hub for the Group’s logistics. In the initial phase, the plan is to expand the logistics centre by 6,500 square metres in addition to the existing 28,000 square metres. The new land is an important investment that future-proofs Alligo and enables continued highly efficient logistics in line with future growth.
The journey continues
We have been on a fantastic journey together building Alligo. Since the merger of Swedol and Tools in 2020, we have taken significant strategic steps to ensure that Alligo is well prepared to meet the future and achieve its vision of being unbeatable. For many of us, the journey began even earlier than this in the old Swedol or Tools, and I look back with pride on everything we have done together since I arrived at Swedol in 2013. The journey now continues under the management of a new CEO, Samuel Alteborg, and I am certain that Alligo will continue to achieve new successes in the future. I wish Samuel and all employees the very best of luck. Thank you for all the wonderful years to those who have been part of the journey. I am now looking forward to following developments from the sidelines, as one of Alligo’s biggest supporters.