InstallatørGruppen Q3 revenue rises 42.8%

InstallatørGruppen said on Oct. 28 that Q3 2026 revenue rose 42.8% year on year to DKK 1,235 million in a regulatory announcement.

The Danish installation-services group kept 2026 reported revenue guidance at DKK 4,650 million to DKK 4,900 million, even as Q3 adjusted EBITA margin narrowed to 8.4% from 10.0% a year earlier.

Organic growth reached 15.2% in the quarter, compared with a 2.5% decline in Q3 2025. For the first nine months, organic growth was 6.2%, down from 10.6% in the same period last year.

Niels Eldrup Meidahl, group CEO, said “organic growth picked up to 15% in the quarter, translating into cash in the coming quarter.” He also said the company had entered Q4 with “an order book of DKK 4.6 billion.”

The order book more than doubled from DKK 2.3 billion in Q3 2025 and was close to the company’s full-year reported revenue guidance range of DKK 4,650 million to DKK 4,900 million. On a comparable basis, InstallatørGruppen said the order book increased 13.6% over the first nine months and 3.5% during Q3.

Adjusted EBITA, a profit measure before interest, tax and amortisation, rose to DKK 104 million in Q3 from DKK 87 million a year earlier. The company attributed the lower margin to a greater share of project work, higher listed-company costs and planned head-office investment.

For the first nine months, revenue was DKK 3,458 million, 34% above the prior-year period. Adjusted EBITA was DKK 311 million, compared with DKK 240 million a year earlier, while the margin slipped to 9.0% from 9.3%.

Cash generation weakened in the quarter. InstallatørGruppen reported adjusted free cash flow of DKK 55 million, down from DKK 88 million in Q3 2025, and adjusted cash conversion fell to 48.7% from 89.4%. Excluding IPO-related costs, the company said adjusted free cash flow was DKK 88 million and conversion was 78.0%.

InstallatørGruppen also reported growth outside its home market. Revenue in Switzerland was DKK 188 million in Q3, compared with DKK 97 million a year earlier, and the adjusted EBITA margin rose to 6.8% from 4.7%.

Acquisitions remained part of the company’s expansion model. InstallatørGruppen said it completed the acquisition of Erik Lytzen A/S on July 1 and completed nine acquisitions in the first nine months, including three add-ons to existing portfolio companies. The acquisition of Steinmann Haustechnik AG in Switzerland was completed in October.

The company said net interest-bearing debt was DKK 1,175 million and financial leverage was 2.1 times, compared with 2.0 times in Q3 2025. It attributed the increase to trade receivables linked to quarterly growth and the Erik Lytzen A/S acquisition.

InstallatørGruppen reiterated its 2026 outlook for combined revenue of DKK 5,450 million to DKK 5,700 million, combined adjusted EBITA of DKK 475 million to DKK 525 million and reported EBIT of DKK 225 million to DKK 285 million. The release did not include consensus estimates or share-price reaction.

InstallatørGruppen scheduled an English-language conference call for investors and analysts at 10:00 CET on Oct. 28, followed by a question-and-answer session.

The company said its acquisition of Poul Sejr Nielsen, signed in September, is expected to close in December 2026.

Source: Regulatory announcement, InstallatørGruppen A/S via GlobeNewswire, Oct. 28, 2026.