Analyst Group: Analyst Group comments on Nosa Plugs’ Q1 report
Nosa Plugs AB (”Nosa Plugs” or ”the Company”) published its interim report for the first quarter of 2026 on May 15, 2026.
In summary, Analyst Group assesses that Nosa Plugs delivered a Q1-26 report demonstrating continued strong commercial momentum, with revenue growth of 94%, of which 27% was organic, supported by a recovery within Odor Control and a high pace of Nozoil rollout on new geographies. The gross margin strengthened to 63% compared to the preceding quarter and is expected to gradually strengthen further as production efficiencies within Nozoil are realized. The EBITDA result of -0.3 MSEK fell short of our estimate, with the deviation entirely attributable to the lower sales, while the cost base remained well-controlled and supports the path toward the Company’s target of a 15% EBITDA margin for the full year 2026 — an objective whose achievement is assessed to be primarily contingent on continued strong revenue growth during the remainder of the year. Looking ahead, Analyst Group views the agreement with Phoenix OCP, announced after the end of the quarter, as a particularly important commercial milestone, providing Nosa Plugs with broad pharmacy coverage across the French market and representing one of the most significant revenue synergies from the acquisition of Nozoil, which, in combination with the continued Nozoil rollout and new procurements within Odor Control in Norway and France, is assessed to constitute important value drivers during the remainder of 2026.
Read Analyst Group’s comment here
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This is a press release from Analyst Group regarding the publication of a comment on Nosa Plugs. Readers may assume that Analyst Group has received compensation for making the comment. The Company has not been given an opportunity to influence the parts where Analyst Group has had opinions about the Company, future valuation or anything else that could be considered a subjective assessment.