Privacy preferences
Inderes uses cookies to provide a better user experience and a personalised service. By consenting to the use of cookies, we can develop an even better service and will be able to provide content that is interesting to you.
  • Forum
  • Stock Markets
    • MarketsLive prices, indices, and market performance
    • Morning ReviewDaily market recap and key overnight highlights
    • Stock CalendarUpcoming earnings, listings, and corporate events
    • Dividends CalendarFuture and past dividends
  • Companies
    • CompaniesBrowse and filter the full list of listed companies
    • DiscoveryInspiration for your next investment
    • IPOsNew listings and upcoming public offerings
    • AGM InvitationsAnnual general meeting dates and shareholder info
  • Stock Research
    • ResearchExpert stock analysis and recommendations
    • ArticlesNews, insights, and market commentary
    • PortfolioInderes model portfolio
    • inderesTVVideo hub for stock research, analysis, and expert commentary
    • TranscriptsFull text records of earnings calls and investor meetings
    • Stock ComparisonCompare financials and performance across multiple stocks
    • Earnings SeasonCompare EPS estimates to reported results
    • Short SellingSee which listed companies have disclosed short interest
    • Compound Interest CalculatorSee how your savings grow with the power of compound interest.
Find us on social media
  • Inderes Forum
  • Youtube
  • Instagram
  • Facebook
  • X (Twitter)
Get in touch
  • info@inderes.se
  • +46 8 411 43 80
  • Vattugatan 17, 5tr
    111 52 Stockholm
Inderes
  • About us
  • Our team
  • Careers
  • Inderes as an investment
  • Services for listed companies
Our platform
  • FAQ
  • Q&A
  • Terms of service
  • Privacy policy
  • Disclaimer

Inderes’ Disclaimer can be found here. Detailed information about each share actively monitored by Inderes is available on the company-specific pages on Inderes’ website. © Inderes Oyj. All rights reserved.

Scanfil: Q3 numbers were 2-3% above consensus - FY guidance unchanged - Nordea

SCANFLThird party research2026-10-23 08:16
Discuss

This is a third party research report and does not necessarily reflect our views or values

Download report (PDF)
Net sales and adjusted EBITA were around 2-3% above market consensus (LSEG) in Q3. Reported growth of 32% y/y was supported by acquisitions. Scanfil’s profitability (EBITA margin) remained healthy in Q3. Organic growth was 8.5% in the quarter, with the Americas delivering the strongest organic revenue growth. Defense sector has been 11% of net sales in 2026. Availability of components is getting harder. The value of new projects won during Q3 was EUR 48m. Increasing working capital has burden cash flow. Full-year 2026 guidance is unchanged. With a resilient margin profile and a supportive growth story relative to peers, the risk/reward remains attractive, we believe. Scanfil's customer base is expanding, organic growth is healthy, cost control is good and the balance sheet enables further acquisitions. Given the company's strong track record of strategy execution, we do not see materially higher risks ahead. The company aims to outperform the EMS market through exposure to sectors such as defense, energy, and medtech. Overall, we see the risk/reward attractive.