Solteq

Solteq returned to organic growth in Q4, but profitability remained weak. 2026 is a bridge year, with focus on turning the profitability around.

Solteq reported its first comparable revenue growth in eight quarters, driven by the Utilities segment. However, profitability remained weak as expected, well in line with our estimates.

Solteq reports Q4 figures on February 12. Despite a December guidance cut and change negotiations announced in January, we expect Q4 comparable operating profit to have improved modestly, while sales to have declined y/y.

Solteq’s Q3 results were disappointing. Despite the weak quarter, guidance was reiterated, indicating expectations of improvement in Q4, although profit warning risk is evident.

Solteq’s Q3 fell slightly short of our expectations. The difficult market environment continued to impact the result despite efficiency measures and cost control.

Solteq will report Q3 results this Wednesday, October 29. The company’s turnaround was prolonged during H1 amid a challenging market. In Q3, we expect both segments to show some improvement after the setback.