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SinterCast Earnings Release 2026
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Earnings Release
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SinterCast Results: First Quarter 2026
SinterCast — Supermetal CGI —
Strong production in March reinforces improving market outlook
First Quarter 2026
- Revenue for Period: SEK 25.0 million (SEK 27.1 million), driven by adverse exchange rate movements of approximately 11%. On a constant currency basis, revenue increased by approximately SEK 0.6 million.
- Recurring revenue accounted for 96.6% (98.5%) of the total revenue
- Operating Result: SEK 6.3 million (SEK 10.2 million), primarily reflecting a SEK 2.6 million year-on-year reduction in revaluation effects from hedge contracts and foreign currency receivables, compared to a strong positive contribution in the prior year.
- Earnings per Share: SEK 0.73 per share (SEK 1.08 per share)
- Cashflow from Operations: SEK 5.7 million (SEK 12.2 million)
- 3.5 million Engine Equivalents in March, 17% above full-year 2025 series production
- Pre-production underway for new commercial vehicle programmes in North and South America
- New equipment orders received for capacity expansion in advance of high volume series production
- Installed Base: 58 (57) installations 26 (26) fully automated systems, 24 (23) mini-systems and eight (eight) tracking systems in 13 (13) countries
Key Facts and Figures
| AMOUNTS IN SEK MILLION, unless otherwise stated | January-March | January-December | ||||
|---|---|---|---|---|---|---|
| 2026 | 2025 | % | 2025 | 2024 | % | |
| Annualised Engine Equivalents, millions | 3.0 | 3.1 | -3% | 3.0 | 3.6 | -17% |
| Recurring revenue* | 24.1 | 26.6 | -9% | 97.3 | 123.0 | -21% |
| Revenue** | 25.0 | 27.1 | -8% | 108.0 | 135.6 | -20% |
| Gross margin, % | 69.6 | 69.3 | 0% | 70.4 | 72.5 | -3% |
| Operating result | 6.3 | 10.2 | -38% | 32.8 | 43.2 | -24% |
| Operating margin, % | 25.3 | 37.7 | -33% | 30.4 | 31.9 | -5% |
| Earnings per share, SEK** | 0.73 | 1.08 | -33% | 3.49 | 4.85 | -28% |
| Distributed dividend per share, SEK | - | - | 7.00 | 6.10 | 15% |
- Recurring revenue from production fees, consumables and software licence fees
** According to IFRS. All other key ratios and share data are defined as Alternative Performance Measures (APMs).
Definition of key ratios can be found after "Key Ratio and Share Data - Group" in this Report.
SinterCast is the world's leading supplier of process control technology for the reliable high volume production of Compacted Graphite Iron (CGI). Stronger, stiffer and more durable than conventional iron, CGI enables the development of smaller, lighter and more fuel efficient engines in passenger vehicle, commercial vehicle and industrial power applications. The use of SinterCast-CGI currently contributes to the reduction of approximately ten million tonnes of CO₂ per year. With 58 installations in 13 countries, SinterCast provides sustainable solutions for manufacturing and transportation to the global foundry and automotive industries. SinterCast is a publicly traded company, quoted on the Small Cap segment of the Nasdaq Stockholm stock exchange (SINT). For more information: www.sintercast.com
SinterCast Results: First Quarter 2026
SinterCast — Supermetal CGI
CEO Message
Strong production in March; strong signals from the industry
Series production in the first quarter finished at 3.0 million (3.1 million) Engine Equivalents, benefitting from strong production of 3.5 million (3.2 million) Engine Equivalents in March. Year-on-year, first quarter production was up 4% for passenger vehicles and 10% for off-road equipment, but offset by a 10% decrease in commercial vehicles, primarily due to low demand in North America. Following prolonged market headwinds, the March production marked the first time in 15 months that the current month was higher than the year ago month. The improved production in March supports our outlook that the difficult market conditions will give way to recovery and growth during 2026. It also aligns with consistent guidance from our foundry customers and industry analysts that orderbooks are improving, primarily driven by strong increases in commercial vehicle demand in Europe and North America. The American Trucking Association's Truck Tonnage Index for March increased by 3%, providing the largest year-on-year gain since October 2022.
Revenue for the first quarter finished at SEK 25.0 million (SEK 27.1 million) following the combined effects of a 3% decrease in series production, a 2% increase in Sampling Cup shipments, a price increase at one major customer that took effect midway through the quarter, and an 11% negative impact from exchange rates. Recurring revenue derived from the Production Fee levied for each Engine Equivalent, consumables and software licence fees accounted for 96.6% (98.5%) of the revenue. The operating result for the period was SEK 6.3 million (SEK 10.2 million), providing an operating margin of 25.4% (37.7%). The combination of the improving production outlook and the full-year cost reductions following the retirement of the Technical Director on 31 December 2025 and the upcoming retirement of the CEO at the AGM in May, will drive the operating result and operating margin through the balance of the year.
The series production outlook continues to improve, both in the near-term and in the long-term. In the near-term the production volume will benefit from the overall market recovery, pent-up demand, and the start of two new high-volume commercial vehicle programmes that are scheduled to begin production in late-2026 and early-2027. Longer term, we are involved in two additional commercial vehicle programmes that will start production in 2030. In total, the new programmes are forecast to increase the series production to eight million Engine Equivalents in 2031, corresponding to a revenue outlook well in excess of SEK 200 million. The long-term outlook is further bolstered by the increasing realisation that battery electric and hydrogen fuel cell vehicles are not well-suited to the sectors that SinterCast works in, specifically, heavy-duty commercial vehicles and pick-up trucks. We remain convinced that the internal combustion engine will dominate these sectors in 2050.
In parallel with the development of the core business, SinterCast is progressing with its search campaign to identify acquisition opportunities. This initiative is initially focused on areas where SinterCast can leverage its expertise in precision measurement and process control, together with its strong brand recognition and international commercial reach, to deliver meaningful synergies and growth. Supported by a strong balance sheet, robust cash generation and the experience of our Board, the process is underway to identify opportunities that will further strengthen and accelerate the company's long-term growth.
Installation campaign underway
In preparation for the start of high-volume commercial vehicle production, a current customer has ordered capacity expansions for its existing SinterCast System 3000 Plus process control system. The first phase of the expansion – ordered in 4Q 2025 and installed in April 2026 – includes the installation of a third SinterCast sampling and
SinterCast Results: First Quarter 2026
SinterCast — Supermetal CGI —
wirefeeding station. The three-station configuration is unique among all SinterCast installations, providing the capability to treat three ladles simultaneously for increased throughput. Following the successful installation, the customer has now ordered the newly developed SinterCast desulphurisation technology. This marks the first installation of the SinterCast desulphurisation solution, expanding the foundry's CGI production capability from the current induction furnaces to also include cupola iron. With an order value of approximately SEK 2 million, the desulphurisation solution provides higher volume, increased flexibility of raw materials and improved cost efficiency.
While installation revenue in the first quarter was modest at SEK 0.6 million (SEK 0.2 million), planning activities are progressing positively. Several installation opportunities are currently under discussion with the goal to secure orders during the first half of the year and to conclude the installations before year-end. In the current climate of cautious capital expenditures, SinterCast targets to reach the historical average of SEK 8 million during 2026, with higher installation revenue outlook in 2027 through 2030 to accommodate the increasing series production demand.
Dr. Steve Dawson
President & CEO
Dr. Vitor Anjos
Deputy CEO
SinterCast Results: First Quarter 2026
SinterCast — Supermetal CGI —
Financial Summary
Revenue
The revenue for the SinterCast Group relates primarily to income from series production, equipment, and engineering service.
| Revenue Breakdown
(Amounts in SEK million) | January-March | | January-December | |
| --- | --- | --- | --- | --- |
| | 2026 | 2025 | 2025 | 2024 |
| Recurring revenue from series production^{1} | 24.1 | 26.6 | 97.3 | 123.0 |
| Equipment^{2} | 0.6 | 0.2 | 9.9 | 11.4 |
| Engineering service^{3} | 0.2 | 0.2 | 0.9 | 1.2 |
| Total | 25.0 | 27.1 | 108.0 | 135.6 |
| Number of Sampling Cups shipped | 46,700 | 45,900 | 184,550 | 202,025 |
- Recurring revenue from production fees, consumables and software licence fees
- Revenue from sold and leased CGI and Tracking system installations and spare parts
- Revenue from engineering service, demonstrations and test pieces
The January-March 2026 revenue decreased by 7.7% to SEK 25.0 million (SEK 27.1 million), primarily due to a negative impact of approximately 11% on revenue during the period, as the USD/SEK rate decreased by 14.4% compared to the prior year. The exchange rate impacted revenue by approximately SEK 2.7 million. On a constant currency basis, year-on-year revenue would have been SEK 0.6 million higher. Recurring revenue from series production decreased by 9.4%, reflecting not only the negative impact of exchange rates, but also 3% lower series production volumes, partly offset by a 2% increase in consumables demand. Recurring revenue amounted to SEK 24.1 million (SEK 26.6 million) and accounted for 96.6% (98.5%) of the total revenue. Total revenue was derived from annualised series production of 3.0 million (3.1 million) Engine Equivalents, shipment of 46,700 (45,900) Sampling Cups, and equipment revenue of SEK 0.6 million (SEK 0.2 million). Engineering Service amounted to SEK 0.2 million (SEK 0.2 million).
Results
| Results Summary
(Amounts in SEK million if not otherwise stated) | January-March | | January-December | |
| --- | --- | --- | --- | --- |
| | 2026 | 2025 | 2025 | 2024 |
| Gross margin, % | 69.6 | 69.3 | 70.4 | 72.5 |
| Operating result | 6.3 | 10.2 | 32.8 | 43.2 |
| Operating margin, % | 25.3 | 37.7 | 30.4 | 31.9 |
| Result for the period after tax | 5.1 | 7.6 | 24.6 | 34.3 |
| Earnings per share (SEK) | 0.73 | 1.08 | 3.49 | 4.85 |
The January-March 2026 gross result decreased by SEK 1.4 million to SEK 17.4 million (SEK 18.8 million), primarily due to lower reported revenue following a negative currency impact of approximately 11% (SEK 2.7 million). The gross margin remained stable at 69.6% (69.3%), despite a negative currency impact, supported by lower cost of goods sold, primarily driven by lower allocated costs, while direct material costs increased year-on-year. The operating result decreased by SEK 3.9 million to SEK 6.3 million (SEK 10.2 million), primarily due to lower gross result (SEK 1.4 million) offset by decrease in operating costs (SEK 0.1 million), primarily related to the reduction in headcount. Other operating costs and income combined decreased primarily due to a SEK 2.6 million
SinterCast Results: First Quarter 2026
SinterCast — Supermetal CGI
year-on-year decrease in revaluation effects from hedge contracts and foreign currency receivables, following gains in the prior year. The result for the period after tax decreased by SEK 2.5 million to SEK 5.1 million (SEK 7.6 million), primarily due to the SEK 3.9 million decrease in operating result offset by a decrease in calculated income tax of SEK 1.4 million.
Cashflow, Liquidity and Investments
The January–March 2026 cashflow from operations decreased by SEK 6.5 million, compared to the same period last year, primarily due to decreased cashflow before changes in working capital of SEK 3.5 million and SEK 3.0 million decrease in contribution from changes in working capital. The increased working capital since year-end of SEK 1.6 million (decrease of SEK 1.4 million in prior year) is primarily due to a SEK 3.4 million increase in operating receivables (decrease of SEK 5.5 million in prior year), a SEK 2.3 million increase in operating liabilities (decrease of SEK 3.2 million in prior year) and a SEK 0.5 million (SEK 0.9 million) decrease in inventory. The increase in operating receivables is primarily driven by higher receivables, reflecting delayed customer payments around the period-end. Total investments amounted to SEK 0.0 million (SEK 0.1 million). Following the IFRS 16 lease payment of SEK 0.4 million, total cashflow amounted to SEK 5.3 million (SEK 10.0 million). Liquidity on 31 March 2026 was SEK 10.5 million (SEK 33.2 million), plus an overdraft credit facility in the amount of SEK 20.0 million, providing effective liquidity of SEK 30.5 million. SinterCast currently has no loans.
| Cashflow Summary
(Amounts in SEK million if not otherwise stated) | January–March | | Δ |
| --- | --- | --- | --- |
| | 2026 | 2025 | 2026 vs 2025 |
| Cashflow from operations, before change in working capital | 7.4 | 10.8 | -3.5 |
| Cashflow from change in working capital | -1.6 | 1.4 | -3.0 |
| Cashflow from operations | 5.7 | 12.2 | -6.5 |
| Cashflow from investing activities | 0.0 | -0.1 | 0.1 |
| Cashflow from financing activities | -0.4 | -2.1 | 1.7 |
| Cashflow total | 5.3 | 10.0 | -4.7 |
| Liquidity | 10.5 | 33.2 | |
Income Tax and Deferred Tax Asset
Tax cost for the January–March 2026 period amounted to SEK 1.2 million (SEK 2.5 million). The Group's total carried forward tax losses, remaining to be utilised, are calculated to be SEK 160.4 million (SEK 192.1 million), resulting in a deferred tax asset of SEK 33.0 million (SEK 39.6 million). As a result of the current production forecast and USD / SEK exchange rates, it is estimated that the timeline for SinterCast to begin to pay Swedish income tax will be during first half of 2028.
Risks and Uncertainty Factors
Uncertainty factors for SinterCast include: the timing of OEM decisions for new CGI engines and other components; adherence to start-of-production dates and ramp projections; the longevity of each engine programme; the possibility that the volume of existing programmes may decrease or come to end-of-life earlier than expected; the global economy for new vehicle sales; technology trends and emissions legislation; and, the individual sales success of vehicles equipped with SinterCast-CGI components.
The increasing economic and geopolitical instability, exacerbated by recent trade and tariff confrontations and ongoing armed conflict in multiple regions, constitute the dominant near-term risk factors for the global foundry and
SinterCast Results: First Quarter 2026
SinterCast — Supermetal CGI
automotive industries. While it is not yet possible to quantify the impact of these factors on the near-term market development, SinterCast remains confident in the long-term growth of CGI. Other factors that may influence the market risk for SinterCast and its end-user industries include the renegotiation of international tariffs and free-trade agreements on vehicle sales, climate change legislation and the associated growth of alternative powertrain technologies, and the overall demand for goods transportation. The development of AI may also increase the possibilities to develop potentially competitive technologies or to reverse engineer the SinterCast technology.
No significant risk of material adjustment to the carrying amounts of assets and liabilities has been identified at the balance sheet date. For additional risk and uncertainty factor information, see the SinterCast Annual Report.
Organisation
With successful high volume CGI production in customer foundries located in Europe, Asia and the Americas, SinterCast has established a global organisation with employees and offices in Sweden, the United Kingdom, the United States, China, Germany and Portugal. As of 31 March 2026, the Group had 24 (26) employees, 6 (7) of whom are female. Benefitting from accumulated experience and efficiency improvements, SinterCast is well positioned to support global market activities and to drive the future growth of the company.
Parent Company
SinterCast AB (publ) is the Parent Company of the SinterCast Group, with its registered office located in Stockholm, Sweden. On 31 March 2026, the Parent Company had 20 (21) employees. The average number of employees during the period was 20 (21). The majority of the operations are managed by the Parent Company while local operations in the United Kingdom, United States and China are managed by the local companies. The information given for the Group in this report corresponds in all material respects to the Parent Company. However, the result for the period may differ between the group and the Parent Company due to intercompany transactions between the Parent Company and its subsidiaries.
Outlook Guidance
The series production outlook continues to improve, both in the near-term and the long-term. In the near-term, production volumes are expected to benefit from an overall market recovery and pent-up demand, supported by positive indicators already observed in March, as well as the start of two new high-volume commercial vehicle programmes scheduled for late 2026 and early 2027. The outlook for the commercial vehicle sector in Europe is strengthening, reflected in improving order books, while in North America, rising freight demand and the stabilisation of tariffs and emissions regulations are expected to encourage fleet buyers to return to the market. Benefitting from new high volume programmes starting series production, we expect our near-term growth to outpace the overall market recovery.
The long-term outlook is bolstered by new high-volume programmes starting in 2030 and by the increasing realisation that battery electric and hydrogen fuel cell vehicles are not well-suited to the sectors that SinterCast works in, specifically, heavy-duty commercial vehicles and pick-up trucks. Over the past year, several OEMs have scaled back their electrification plans and investments, shifting their focus toward more profitable internal combustion engines that are preferred by their customers. With the prevailing path for large vehicles continuing to evolve toward clean, net-zero fuels, we expect the internal combustion to dominate these sectors in 2050.
Building on strong new product development, the SinterCast outlook has increased to target the eight million Engine Equivalent milestone during 2031. In parallel with the growth of Compacted Graphite Iron, SinterCast is actively
SinterCast Results: First Quarter 2026
SinterCast — Supermetal CGI
exploring opportunities beyond its current organic growth outlook. This initiative is initially focused on areas where SinterCast can leverage its expertise in precision measurement and process control, together with its brand recognition and international commercial reach, to deliver meaningful synergies and growth.
The Share and Analysts
The SinterCast share has been listed and quoted on the Small Cap segment of the Nasdaq Stockholm stock exchange, since 26 April 1993. SinterCast share capital is SEK 7,090,133 at par value of approximately SEK 1 per share. ABG Sundal Collier is the appointed liquidity provider for the SinterCast share.
The following analysts cover SinterCast:
- Henric Hintze at ABG Sundal Collier, [email protected], +46 8 566 294 89
- Philip Wendt at Aktiespararna, [email protected], +46 8 50 65 15 00
Accounting Principles
The information provided on behalf of the group in this interim report has been prepared in accordance with Sweden's Annual Accounts Act and IAS 34 Interim Financial Reporting. The reporting for the Parent Company has been prepared in accordance with Sweden's Annual Accounts Act, chapter 9 interim report, and RFR 2. The accounting policies that have been applied for the group and the Parent Company agree with the accounting policies used in the preparation of the company's latest Annual Report.
Fair Value Measurement of Financial Assets and Liabilities
The group has financial assets consisting of derivative instruments (included in other debtors or other creditors). The fair value of derivative instruments, not traded on an active market, is based on observable market currency rates. The effects are recognised in the profit & loss statement.
Rounding
The total amount shown in tables and statements may not always sum to the same value due to rounding differences. The primary objective is for each line item to correspond to the source. This may sometimes result in rounding or truncation differences in the total.
Alternative Performance Measures are defined and included in this report in the Key Ratio and Share Data tables. More information of Accounting Policies is included in the Annual Report 2025, pages 44–49.
Material Transactions and Events after the Balance Sheet Date
No material transactions have taken place between SinterCast and the Board or the Management during the period. The Annual Report 2025 was published on the SinterCast website on 27 March 2026. The following press releases were issued during the period:
- 17 February 2026 – SinterCast Results October–December 2025
- 27 March 2026 – SinterCast Annual Report 2025
There have been no other significant events since the balance sheet date that could materially change these financial statements. The following press releases were issued after the balance sheet date:
- 10 April 2026 – Notice of the Annual General Meeting of SinterCast Aktiebolag
SinterCast Results: First Quarter 2026
SinterCast — Supermetal CGI
Dividend Policy and Dividend
The Board's intention is to continue to provide an ordinary dividend to the shareholders, based primarily on the cashflow from operations, after investments. In the event that the Board considers that the liquidity exceeds the amount needed to support the operational requirements and strategic objectives, the Board has the option to propose an extraordinary dividend or a share buyback to further adjust the liquidity. The first dividend was distributed in May 2011 for the financial year 2010. Since 2019, the dividend has been distributed in two equal instalments. Since the first dividend was provided, and including the current dividend proposal, SinterCast will have distributed SEK 396 million to its shareholders, representing 106% of its operating result over the period. The cumulative dividend amounts to SEK 56.00 per share.
Share Buyback
The AGM on 20 May 2025 authorised the Board of Directors of SinterCast AB to decide upon the acquisition of SinterCast shares, prior to the next AGM. SinterCast has not acquired any shares since 20 May 2025. SinterCast currently holds 25,223 of its own shares.
Proposed Dividend 2026
The Board of Directors propose an ordinary dividend of SEK 3.00 per share (SEK 6.00 per share) with an extraordinary dividend of SEK 0.00 (SEK 1.00 per share), representing a distribution of SEK 21.1 million (SEK 49.5 million) to the shareholders of SinterCast AB (publ) for the financial year 2025, with SEK 1.00 paid in May and SEK 2.00 paid in November (two equal payments of SEK 3.50 per share). The Board proposes 21 May 2026 as the record date for the first dividend payment and 16 November 2026 as the record date for the second dividend payment. In deciding the amount of the ordinary dividend to be proposed to the AGM 2026, the Board considered cashflow from operations, the financial position, investment requirements including funding headroom for inorganic growth, and other factors, such as market outlook, growth strategy and the internal financial forecast for the Group.
Annual General Meeting 2026
The Annual General Meeting 2026 of SinterCast AB (publ) will be held on Tuesday 19 May 2026.
Right to Participate and to Vote
Shareholders who wish to participate in the Annual General Meeting
SinterCast Results: First Quarter 2026
SinterCast — Supermetal CGI
- must be recorded in the share register maintained by Euroclear Sweden AB on Friday 8 May 2026, and
- must notify SinterCast of their attendance no later than Tuesday 12 May 2026.
In addition, to be entitled to participate in the Annual General Meeting, a shareholder whose shares are held in the name of a nominee must register its shares in its own name so that the shareholder is recorded in the share register on Friday 8 May 2026. Such registration may be temporary (so-called voting right registration) and is requested from the nominee in accordance with the nominee's procedures and in such time in advance as the nominee determines. Voting right registrations completed by the nominee not later than Tuesday 12 May 2026 are taken into account when preparing the share register.
Full information is available in the published notice.
Information
Interim Reports
April-June 2026
July-September 2026
October-December 2026 and Full Year Results 2026
January-March 2027
Publication Date
08:00 CET on 19 August 2026
08:00 CET on 4 November 2026
08:00 CET on 17 February 2027
08:00 CET on 28 April 2027
This report has not been reviewed by the company's Auditors.
Stockholm 29 April 2026
For further information please contact:
Dr. Steve Dawson
President & CEO
SinterCast AB (publ)
Office: +46 150 794 40
Mobile: +44 771 002 6342
e-mail: [email protected]
website: www.sintercast.com
Corp. Id. 556233-6494
This press release contains information SinterCast AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication, through the agency of the President & CEO Dr. Steve Dawson, at 08:00 CET on 29 April 2026.
SinterCast Results: First Quarter 2026
SinterCast — Supermetal CGI
Income Statement – Group
| Amounts in SEK million | January-March | January-December | ||
|---|---|---|---|---|
| 2026 | 2025 | 2025 | 2024 | |
| Revenue | 25.0 | 27.1 | 108.0 | 135.6 |
| Cost of goods sold | -7.6 | -8.3 | -32.0 | -37.3 |
| Gross result | 17.4 | 18.8 | 76.0 | 98.3 |
| Cost of sales and marketing | -7.1 | -7.6 | -31.1 | -33.6 |
| Cost of administration | -2.2 | -1.9 | -9.4 | -10.0 |
| Cost of research & development | -1.7 | -1.6 | -6.1 | -6.9 |
| Other operating costs & income | -0.1 | 2.5 | 3.4 | -4.7 |
| Operating result | 6.3 | 10.2 | 32.8 | 43.2 |
| Financial income | 0.0 | 0.0 | 0.2 | 0.4 |
| Financial costs | -0.1 | -0.1 | -0.3 | -0.4 |
| Financial net | -0.1 | -0.1 | -0.1 | 0.0 |
| Result before income tax | 6.3 | 10.1 | 32.7 | 43.2 |
| Income tax | -1.2 | -2.5 | -8.1 | -9.0 |
| Result for the period | 5.1 | 7.6 | 24.6 | 34.3 |
| Result attributable to: | ||||
| Equity holder of the parent company | 5.1 | 7.6 | 24.6 | 34.3 |
| Non-controlling interests | - | - | - | - |
| Earnings per share, SEK | 0.73 | 1.08 | 3.49 | 4.85 |
| Earnings per share, diluted, SEK | 0.73 | 1.08 | 3.49 | 4.85 |
| Number of shares at the close of the period, thousands | 7,042.3 | 7,042.3 | 7,042.3 | 7,055.3 |
| Average number of shares, thousands | 7,042.3 | 7,045.2 | 7,042.9 | 7,067.4 |
| Average number of shares, diluted | 7,042.3 | 7,045.2 | 7,042.9 | 7,067.4 |
Statement of Result and Other Comprehensive Income – Group
| Amounts in SEK million | January-March | January-December | ||
|---|---|---|---|---|
| 2026 | 2025 | 2025 | 2024 | |
| Result for the period | 5.1 | 7.6 | 24.6 | 34.3 |
| Other comprehensive income | ||||
| Items may be reclassified to the income statement | ||||
| Translation differences, foreign subsidiaries | 0.3 | -0.2 | -0.4 | 0.3 |
| Other comprehensive income, net of tax | 0.3 | -0.2 | -0.4 | 0.3 |
| Total comprehensive income for the period | 5.4 | 7.4 | 24.2 | 34.6 |
| Total comprehensive income attributable to: | ||||
| Shareholder of the parent company | 5.4 | 7.4 | 24.2 | 34.6 |
| Non-controlling interests | - | - | - | - |
SinterCast Results: First Quarter 2026
SinterCast — Supermetal CGI
Balance Sheet – Group
| Amounts in SEK million | 31 Mar 2026 | 31 Mar 2025 | 31 Dec 2025 | 31 Dec 2024 |
|---|---|---|---|---|
| ASSETS | ||||
| Intangible assets | 0.6 | 1.0 | 0.7 | 1.1 |
| Tangible assets* | 10.7 | 8.0 | 6.2 | 8.1 |
| Other long term receivables | 0.0 | 0.0 | 0.0 | 0.1 |
| Deferred tax asset | 33.0 | 39.6 | 34.2 | 42.0 |
| Total fixed assets | 44.4 | 48.6 | 41.1 | 51.3 |
| Inventory | 9.8 | 13.0 | 9.3 | 12.1 |
| Short-term receivables | 34.0 | 32.4 | 30.6 | 37.9 |
| Short term deposits and cash at bank and in hand | 10.5 | 33.2 | 5.2 | 23.1 |
| Total current assets | 54.3 | 78.6 | 45.1 | 73.1 |
| Total assets | 98.7 | 127.2 | 86.2 | 124.4 |
| SHAREHOLDERS’ EQUITY AND LIABILITIES | ||||
| Shareholders’ equity | 81.5 | 108.7 | 76.1 | 102.9 |
| Long term liabilities* | 4.5 | 0.7 | 0.5 | 0.4 |
| Current liabilities* | 12.7 | 17.8 | 9.6 | 21.1 |
| Total liabilities | 17.2 | 18.5 | 10.1 | 21.5 |
| Total shareholders’ equity and liabilities | 98.7 | 127.2 | 86.2 | 124.4 |
- Includes right of use assets (SEK 5.8 million), long term lease liability (SEK 4.4 million) and short term lease liabilities (SEK 1.3 million)
SinterCast Results: First Quarter 2026
SinterCast — Supermetal CGI —
Statement of Changes in Equity – Group
| Amounts in SEK million | Share Capital | Paid in Capital | Exchange Differences | Cumulative Results | Total Equity |
|---|---|---|---|---|---|
| Opening balance 1 January 2025 | 7.1 | 44.9 | 1.4 | 49.6 | 102.9 |
| Total comprehensive income | |||||
| Result for the period | - | - | - | 7.6 | 7.6 |
| Other comprehensive income | - | - | -0.2 | 0.0 | -0.2 |
| Total comprehensive income | - | - | -0.2 | 7.6 | 7.4 |
| Repurchase own shares | - | - | - | -1.7 | -1.7 |
| Closing balance 31 March 2025 | 7.1 | 44.9 | 1.2 | 55.5 | 108.7 |
| Opening balance 1 January 2026 | 7.1 | 44.9 | 1.0 | 23.2 | 76.1 |
| Total comprehensive income | |||||
| Result for the period | - | - | - | 5.1 | 5.1 |
| Other comprehensive income | - | - | 0.3 | - | 0.3 |
| Total comprehensive income | - | - | 0.3 | 5.1 | 5.4 |
| Closing balance 31 March 2026 | 7.1 | 44.9 | 1.3 | 28.3 | 81.5 |
SinterCast Results: First Quarter 2026
SinterCast — Supermetal CGI
Cashflow Statement – Group
| Amounts in SEK million | January-March | January-December | ||
|---|---|---|---|---|
| 2026 | 2025 | 2025 | 2024 | |
| Operating activities | ||||
| Operating result | 6.3 | 10.2 | 32.8 | 43.2 |
| Adjustments for items not included in the cash flow | ||||
| Depreciation | 0.9 | 0.9 | 3.6 | 4.3 |
| Other | 0.2 | 0.0 | 0.3 | 0.2 |
| Unrealised exchange rate differences | 0.0 | -0.1 | 0.0 | 0.4 |
| Received interest | 0.0 | 0.0 | 0.2 | 0.4 |
| Paid interest | -0.1 | -0.1 | -0.3 | -0.4 |
| Paid income tax | 0.0 | -0.1 | -0.1 | -0.1 |
| Total cashflow from operating activities | 7.4 | 10.8 | 36.5 | 48.0 |
| before change in working capital | ||||
| Change in working capital | ||||
| Inventory | -0.5 | -0.9 | 2.8 | 2.1 |
| Operating receivables | -3.4 | 5.5 | 7.2 | 5.9 |
| Operating liabilities | 2.3 | -3.2 | -11.9 | 3.6 |
| Total change in working capital | -1.6 | 1.4 | -1.9 | 11.6 |
| Cashflow from operations | 5.7 | 12.2 | 34.6 | 59.6 |
| Investing activities | ||||
| Acquisition of tangible assets | 0.0 | -0.1 | -0.5 | -1.8 |
| Cashflow from investing activities | 0.0 | -0.1 | -0.5 | -1.8 |
| Financing activities | ||||
| Payment lease liability | -0.4 | -0.4 | -1.5 | -1.7 |
| Dividend | 0.0 | 0.0 | -49.3 | -43.1 |
| Repurchase own shares | 0.0 | -1.7 | -1.7 | -2.2 |
| Cashflow from financing activities | -0.4 | -2.1 | -52.5 | -47.0 |
| Exchange rate differences in cash and cash equivalents | 0.0 | 0.0 | 0.0 | 0.0 |
| Cashflow for the period | 5.3 | 10.0 | -18.4 | 10.8 |
| Cash - opening balance | 5.2 | 23.1 | 23.1 | 12.3 |
| Cash - closing balance* | 10.5 | 33.2 | 5.2 | 23.1 |
- The cash and cash equivalents comprise short-term deposits and cash at bank and in hand
SinterCast Results: First Quarter 2026
SinterCast — Supermetal CGI —
Key Ratio and Share Data – Group
| Amounts in SEK million | January-March | January-December | ||
|---|---|---|---|---|
| 2026 | 2025 | 2025 | 2024 | |
| Key Ratio | ||||
| Revenue* | 25.0 | 27.1 | 108.0 | 135.6 |
| Gross margin, % | 69.6 | 69.3 | 70.4 | 72.5 |
| Operating result | 6.3 | 10.2 | 32.8 | 43.2 |
| Operating margin, % | 25.3 | 37.7 | 30.4 | 31.9 |
| Result for the period* | 5.1 | 7.6 | 24.6 | 34.3 |
| Solidity, % | 82.6 | 85.4 | 88.3 | 82.7 |
| Shareholders' equity | 81.5 | 108.7 | 76.1 | 102.9 |
| Total assets | 98.7 | 127.2 | 86.2 | 124.4 |
| Return on shareholders' equity, % ** | 6.5 | 7.2 | 27.5 | 31.9 |
| Return on total assets, % ** | 5.5 | 6.1 | 23.4 | 26.8 |
| Employees | ||||
| Number of employees at the end of the period | 24 | 26 | 25 | 25 |
| Data per Share | ||||
| Earnings per share, SEK* | 0.73 | 1.08 | 3.49 | 4.85 |
| Dividend per share, SEK | - | - | 7.00 | 6.10 |
| Cashflow from operations per share, SEK | 0.81 | 1.74 | 4.98 | 8.41 |
| Share price at the end of the period, SEK | 94.4 | 107.0 | 106.0 | 107.0 |
- According to IFRS. All other key ratios and share data are defined as Alternative Performance Measures (APMs). ** Comparative key ratios for 2025 have been recalculated
Gross margin %
Gross results as percentage of revenue
Operating margin %
Operating results as percentage of revenue
Solidity %
Adjusted shareholders' equity expressed as percentage of total assets end of period
Equity per share
Shareholders' equity divided by the average number of shares
Capital employed
Total assets less non-interest bearing liabilities
Return on shareholders' equity %
Result for the period as a percentage of average shareholders' equity. Quarterly values are not annualised
Return on capital employed %
Result for the period as a percentage of average capital employed
Quarterly values are not annualised
Return on total assets %
Result for the period as a percentage of total average assets.
Quarterly values are not annualised
Average number of shares
Weighted average outstanding shares, excluding repurchased shares, for the period
Average number of shares adjusted for dilution
Weighted average of the number of shares for the period, excluding repurchased shares, adjusted for dilution
Earnings per share
Result for the period divided by the average number of shares
Earnings per share, diluted
Result for the period divided by the average number of shares adjusted for dilution
Dividend per share
Dividend divided by the number of shares
Cashflow from operations per share
Cashflow from operations divided by the number of shares
Share price at the end of the period
Latest paid price for the SinterCast share at NASDAQ Stockholm
Value presented as "0.0"
Amount below SEK 50,000
Value presented as "-" No amount applicable
SinterCast Results: First Quarter 2026
SinterCast — Supermetal CGI —
Income Statement – Parent Company
| January-March | January-December | |||
|---|---|---|---|---|
| Amounts in SEK million | 2026 | 2025 | 2025 | 2024 |
| Revenue | 25.0 | 27.1 | 107.9 | 134.4 |
| Cost of goods sold | -7.9 | -8.9 | -33.9 | -39.3 |
| Gross result | 17.1 | 18.2 | 74.0 | 95.1 |
| Cost of sales and marketing | -7.2 | -7.6 | -31.4 | -32.4 |
| Cost of administration | -2.2 | -1.8 | -9.3 | -10.0 |
| Cost of research & development | -1.7 | -1.6 | -6.1 | -6.9 |
| Other operating costs & income | -0.5 | 4.1 | 6.2 | -6.5 |
| Operating result | 5.4 | 11.3 | 33.4 | 39.4 |
| Result from shares in subsidiaries | 0.0 | 0.0 | 0.0 | 1.8 |
| Financial income | 0.0 | 0.0 | 0.2 | 0.4 |
| Financial costs | -0.2 | -0.2 | -0.8 | -0.9 |
| Financial net | -0.2 | -0.2 | -0.6 | 1.2 |
| Result before income tax | 5.3 | 11.1 | 32.8 | 40.6 |
| Income tax | -1.1 | -2.3 | -7.4 | -8.4 |
| Result for the period | 4.2 | 8.8 | 25.4 | 32.2 |
| Earnings per share, SEK | 0.59 | 1.25 | 3.61 | 4.55 |
| Earnings per share, diluted, SEK | 0.59 | 1.25 | 3.61 | 4.55 |
| Number of shares at the close of the period, thousands | 7,042.3 | 7,042.3 | 7,042.3 | 7,055.3 |
| Average number of shares, thousands | 7,042.3 | 7,045.2 | 7,042.9 | 7,067.4 |
| Average number of shares, diluted | 7,042.3 | 7,042.9 | 7,042.9 | 7,067.4 |
Statement of Result and Other Comprehensive Income – Parent Company
| Amounts in SEK million | January-March | January-December | ||
|---|---|---|---|---|
| 2026 | 2025 | 2025 | 2024 | |
| Result for the period | 4.2 | 8.8 | 25.4 | 32.2 |
| Total comprehensive income for the period | 4.2 | 8.8 | 25.4 | 32.2 |
SinterCast Results: First Quarter 2026
SinterCast — Supermetal CGI
Balance Sheet – Parent Company
| Amounts in SEK million | 31 Mar 2026 | 31 Mar 2025 | 31 Dec 2025 | 31 Dec 2024 |
|---|---|---|---|---|
| ASSETS | ||||
| Intangible assets | 0.6 | 1.0 | 0.7 | 1.1 |
| Tangible assets | 4.8 | 6.1 | 5.2 | 6.5 |
| Other long term receivables | 1.8 | 1.8 | 1.8 | 1.9 |
| Deferred tax asset | 32.3 | 38.3 | 33.3 | 40.6 |
| Total fixed assets | 39.5 | 47.4 | 41.1 | 50.1 |
| Inventory | 9.5 | 12.7 | 9.0 | 11.8 |
| Short-term receivables | 36.0 | 33.1 | 32.5 | 38.2 |
| Short term deposits and cash at bank and in hand | 9.0 | 32.1 | 4.2 | 21.6 |
| Total current assets | 54.5 | 78.0 | 45.7 | 71.6 |
| Total assets | 94.1 | 125.3 | 86.8 | 121.7 |
| SHAREHOLDERS’ EQUITY AND LIABILITIES | ||||
| Shareholders’ equity | 58.7 | 87.2 | 54.5 | 80.1 |
| Current liabilities | 35.3 | 38.1 | 32.3 | 41.6 |
| Total liabilities | 35.3 | 38.1 | 32.3 | 41.6 |
| Total shareholders’ equity and liabilities | 94.1 | 125.3 | 86.8 | 121.7 |
SinterCast Results: First Quarter 2026
SinterCast — Supermetal CGI —
Statement of Changes in Equity – Parent Company
| Amounts in SEK million | Restricted Equity | Unrestricted Equity | Total Equity | ||||
|---|---|---|---|---|---|---|---|
| Share Capital | Statutory Reserve | Reserve Developm. Costs | Share Premium Reserve | Results brought Forward | Results for the Year | ||
| Opening balance 1 January 2025 | 7.1 | 9.5 | 0.7 | 35.3 | -4.7 | 32.2 | 80.1 |
| Appropriation of last year's result | - | - | - | - | 32.2 | -32.2 | - |
| Depreciation, development costs | - | - | -0.1 | - | 0.1 | - | - |
| Total comprehensive income | - | - | - | - | - | 8.8 | 8.8 |
| Repurchase own shares | - | - | - | - | -1.7 | - | -1.7 |
| Closing balance 31 March 2025 | 7.1 | 9.5 | 0.7 | 35.3 | 25.8 | 8.8 | 87.2 |
| Opening balance 1 January 2026 | 7.1 | - | 0.4 | 35.3 | -13.7 | 25.4 | 54.5 |
| Appropriation of last year's result | - | - | - | - | 25.4 | -25.4 | - |
| Depreciation, development costs | - | - | -0.1 | - | 0.1 | - | - |
| Total comprehensive income | - | - | - | - | - | 4.2 | 4.2 |
| Repurchase own shares | - | - | - | - | 0.0 | - | 0.0 |
| Dividend | - | - | - | - | 0.0 | - | 0.0 |
| Closing balance 31 March 2026 | 7.1 | 0.0 | 0.4 | 35.3 | 11.7 | 4.2 | 58.7 |