SERSTECH GROUP, 1 JULY – 30 SEPTEMBER 2026
- Net sales amounted to KSEK 18 529 (7 765)
- EBITDA amounted to KSEK 2 444 (-4 283)
- EBIT amounted to KSEK 115 (-6 387)
- Cash flow from operating activities amounted to KSEK -6 500 (-7 783)
- Earnings per share amounted to SEK -0.00 (-0.03)
- Earnings per average number of shares amounted to SEK -0.00 (-0.03)
SERSTECH GROUP, 1 JANUARY – 30 SEPTEMBER 2026
- Net sales amounted to KSEK 34 713 (32 220)
- EBITDA amounted to KSEK -4 259 (-12 651)
- EBIT amounted to KSEK -11 674 (-18 881)
- Cash flow from operating activities amounted to KSEK -18 048 (-22 555)
- Earnings per share amounted to SEK -0.05 (-0.07)
- Earnings per average number of shares amounted to SEK -0.05 (-0.07)
Message from the CEO
Serstech delivered a strong third quarter. Revenue reached 18.5 MSEK, and we recorded a EBITDA of 2.4 MSEK. Order intake in the quarter was the second highest in the company’s history. In September, we also shipped more products in a single month than ever before.
During the quarter, we have doubled our in-house production capacity, which now represents a sales value of more than 6 MSEK per month. As a result, a substantial share of our deliveries in 2027 is expected to be produced in-house. This will support continued gross margin improvement, alongside our ongoing cost-of-goods sold reduction activities in R&D.
A shortage of electronic components is beginning to affect the market, resulting in price increases. We built inventory ahead of time, which has left inventory levels relatively high and weakened our cash position. Our inventory of components enables us to support sales and deliveries the coming quarters. We expect some minor production disruptions, but no major impact. We are currently placing component orders for delivery in Q2 2027 due to the extended delivery times.
Our cash balance is currently low, partly because we have already paid production costs to a larger extent for the larger orders delivered in September and October. The invoices from these deliveries and several smaller ones, totaling approximately 30 MSEK, are expected to be paid in November, December and January.
Oil prices remain a risk factor. A further increase in the oil prices could weaken some of our Asian customers’ ability to invest in new technology and lead to delays in ongoing business opportunities. Security and defense equipment remains a priority for most of our target countries, and we currently do not expect any cancellations of the coming tenders.
The 2027 budget process is under way. We expect to reduce both sales and R&D fixed costs next year compared with 2026, while continuing to improve gross margins through in-house production and lower overall production costs.
Pipeline growth was weak in 2025 amid uncertainty around tariffs. Since early summer this year, however, activity has moved back towards normal levels, and our pipeline is now at a record high. We expect a strong fourth-quarter order intake, giving us a solid foundation for continued growth and improved profitability in 2027.
Stefan Sandor, CEO
November 2026
For further information, please contact:
Stefan Sandor,
CEO, Serstech AB
Phone: +46 739 606 067
Email: ss@serstech.com
or
Arve Nilsson,
Chairman of the Board, Serstech AB
Phone: +45 40 35 82 65
Email: arve.nilsson@serstech.com
or visit: www.serstech.com
This is information that Serstech AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above at 08:45 CET on November 03, 2026.
Certified advisor to Serstech is Svensk Kapitalmarknadsgranskning AB (SKMG).
About Serstech
Serstech delivers solutions for chemical identification and has customers around the world, mainly in the safety and security industry. Typical customers are customs, police authorities, security organizations and first responders. The solutions and technology are however not limited to security applications and potentially any industry using chemicals of some kind could be addressed by Serstech’s solution. Serstech’s head office is in Sweden and all production is done in Sweden.
Serstech is traded at Nasdaq First North Growth Market and more information about the company can be found at www.serstech.com
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