Double-digit revenue growth and strongest third quarter ever
July 1 – September 30, 2026
- Net sales amounted to MSEK 716 (626). Growth adjusted for currency effects was 13%, whereof all was organic.
- EBITA increased 79% to MSEK 81 (45).
- EBITA margin was 11.4 (7.2) %.
- Profit after tax increased 217% to MSEK 40 (12).
- Earnings per share increased 207% to SEK 2.12 (0.69).
January 1 – September 30, 2026
- Net sales amounted to MSEK 2,085 (1,993). Growth adjusted for currency effects was 9%, whereof 8% was organic.
- EBITA increased 26% to MSEK 237 (188).
- EBITA margin was 11.4 (9.5) %.
- Profit after tax amounted to MSEK 64 (77). Excluding change in provision of earn-out 2026, the profit after tax increased 52% to MSEK 117 (77).2)
- Earnings per share amounted to SEK 3.49 (4.05). Excluding change in provision of earn-out 2026, earnings per share increased 54% to SEK 6.23 (4.05).2)
“The strongest Q3 in BTS’s history – EBITA grows 76 percent1).”
Jessica Skon, CEO of BTS Group AB
Outlook 2026
We estimate that the result (EBITA) for 2026 will be significantly better than 2025.
FINANCIAL SUMMARY
| MSEK | Jul-Sep 2026 | Jul-Sep 2025 | Jan-Sep 2026 | Jan-Sep 2025 | Sep-Oct 2025/2026 | Jan-Dec 2025 |
| Net sales | 716 | 626 | 2,085 | 1,993 | 2,795 | 2,703 |
| Growth adjusted for currency effects | 13% | 3% | 9% | 4% | 6% | 3% |
| EBITA | 81 | 45 | 237 | 188 | 323 | 274 |
| EBITA margin | 11.4% | 7.2% | 11.4% | 9.5% | 11.6% | 10.2% |
| EBIT | 63 | 27 | 185 | 133 | 252 | 200 |
| EBIT margin | 8.8% | 4.3% | 8.9% | 6.6% | 9.0% | 7.4% |
| Profit after tax | 40 | 12 | 64 | 77 | 1203) | 1333) |
| Profit after tax, excl. change in provision of earn-out | 40 | 12 | 1172) | 77 | 1732) 3) | 1333) |
| Cash flow from operating activities | 109 | 100 | 45 | 3 | 255 | 213 |
| Earnings per share, SEK4) | 2.12 | 0.69 | 3.49 | 4.05 | 6.33 | 6.89 |
| Earnings per share, excl. change in provision of earn-out, SEK4) | 2.16 | 0.69 | 6.232) | 4.05 | 9.072) | 6.89 |
| Net debt (+)/net cash (-) | 94 | 62 | 94 | 62 | 94 | -46 |
| Number of employees (EOP) | 1,073 | 1,162 | 1,073 | 1,162 | 1,073 | 1,139 |
1) Adjusted for currency effects.
2) During the second quarter 2026, the earn-out provision related to the earlier acquisition of Boda 2023 was increased, impacting the net financial items negatively by MSEK 52. To enhance comparability, the 2026 profit before and after tax in this interim report is presented, including and excluding this adjustment.
3) The changes in U.S. tax legislation in 2025 had a positive effect on reported income tax 2025 of MSEK 14 in BTS’s operations in North America.
4) Before and after dilution of shares.
For more information, please contact:
Rodney Alfvén
Head of investor relations
BTS Group AB
Rodney.Alfven@bts.com
+46 72 235 05 15
This information is information that BTS Group AB 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 06:30 CET on November 6, 2026.
About BTS Group AB
BTS is a global professional services firm headquartered in Stockholm, Sweden. BTS has about 1,100 professionals in 35 offices located on six continents. BTS competes in both talent and HR consulting as well as the traditional consulting markets. BTS’s services support a broad range of client challenges including top-to-bottom and on-demand leadership development, talent selection and readiness, strategy creation and strategy implementation, as well as culture and broad-scale change. For 40 years, BTS has been focused on the people-side of change and on powering better performance using proprietary simulation, learning, coaching, and assessment methodologies. We partner with nearly 1,200 organizations, including over 40 of the world’s 100 largest global corporations.
BTS is a public company listed on the Nasdaq Stockholm exchange and trades under the symbol BTS B.
For more information, please visit www.bts.com.
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