Operational progress in a continued challenging market
| SEK m | 3 months Jul-Sep 2026 | 3 months Jul-Sep 2025 | 9 months Jan-Sep 2026 | 9 months Jan-Sep 2025 | 12 months Oct-Sep2025/26 | 12 months Jan-Dec 2025 |
| Net sales | 2,033 | 1,972 | 5,620 | 5,720 | 7,586 | 7,685 |
| Organic growth | 1.7% | -0.5% | -1.6% | -0.6% | -3.1% | -2.1% |
| Sales growth. currency-adjusted | 2.0% | 7.9% | -1.0% | 7.4% | -0.7% | 6.0% |
| Operating income1) | 133 | 168 | 297 | 398 | 459 | 560 |
| Operating margin1) | 6.5% | 8.5% | 5.3% | 7.0% | 6.1% | 7.3% |
| EBIT | 94 | 151 | 185 | 344 | 318 | 477 |
| EBIT margin | 4.6% | 7.7% | 3.3% | 6.0 % | 4.2% | 6.2% |
| Income after financial items | 46 | 138 | 83 | 304 | 209 | 430 |
| Income after tax | 32 | 112 | 51 | 237 | 138 | 324 |
| Earnings per share attributable to equity holders of the Parent Company | 0.70 | 2.23 | 0.99 | 4.83 | 2.81 | 6.64 |
| Adjusted earnings per share attributable to equity holders of the Parent Company1) | 1.06 | 2.23 | 2.09 | 4.83 | 4.06 | 6.87 |
| Return on capital employed. excluding goodwill | 12.7% | 23.9% | 12.7% | 23.9% | 12.7% | 20.7% |
"We are in a considerably more stable position today than when we summarized the second quarter, and we expect the volume transfer to be completed during the fourth quarter."
Robert Dackeskog, President and CEO, Duni Group
The interim report will be presented during a live-streamed web and telephone conference today October 23, 2026, at 10:00 a.m.
Link to the webcast: Q3 Report 2026 web
Link to the phoneconference: Q3 Report 2026 phone
We achieved growth of 3.1%, of which 1.7% was organic, primarily driven by good development in Australia as well as increased napkin volumes in Europe.
We have resolved the delivery issues we experienced before the summer in connection with the transition to an external logistics partner. However, work remains to optimize freight costs, which weighed on income during the quarter. These effects are expected to gradually decrease over the coming quarters and, together with higher fuel prices, are the main reason for our income development.
Significant progress was made during the quarter. Already by mid-summer we had worked through the backorders built up during the spring, after which the focus shifted to improving logistics processes and delivery precision.
The decision to postpone the transfer of volumes for the German market, which we communicated in the second quarter, provided the necessary room to stabilize operations. During the quarter, we were therefore able to resume the transfer to our logistics partner. The remaining German volumes will be fully transferred before year-end.
At the same time, some work remains before the transition is fully completed. We are now in a considerably more stable position than when we reported the second quarter, and we are confident that the transfer will be completed during the fourth quarter.
Even during a year in which significant focus has been placed on the logistics transition, we continue to develop the business and invest in additional areas that strengthen our competitiveness over time.
Among other things, we see positive effects from the acquisition of Seti, completed at the end of 2024. Together with Duni's organization in Italy, we have strengthened our presence in Southern Europe and created new opportunities for profitable growth in the region. The development during the year confirms the value of building a more balanced geographical presence in Europe and reducing dependence on individual markets.
Within Dining Solutions, we are now launching our lighting platform d.ls, broadening our offering to the hotel and restaurant market. At the same time, we continue to develop Food Packaging Solutions through Duniform, where the combination of machines, service and packaging solutions creates an increasingly strong offering for customers in the food industry.
In parallel with our growth initiatives, we are also implementing the cost savings program communicated in the previous quarter.
The main priority is to complete the logistics transition in a controlled manner while continuing to improve quality and efficiency throughout the business, with particular focus on transportation costs.
In parallel, we are working to create conditions for continued growth by strengthening our customer offering, developing our market positions and ensuring that we are well positioned as activity among our customers gradually increases.
Through the changes and investments we are making in production, logistics and our product portfolio, we create better conditions for the future. During the year, we have also adapted to the prevailing market conditions through cost-saving programs within sales and administration. As a result, we will enter 2027 with a stronger operational platform than we had at the beginning of the year.
Robert Dackeskog,
President and CEO, Duni Group