Addtech ADDT B
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Full analysis: 6 Apr 2026
Latest news check: 15 Jul 2026
General analysis — not personal advice.
HOLD
7/10
Confidence
Hold; consider adding only on a clear pullback or if Q1 confirms continued margin strength and signs of improving organic growth.
Hold remains appropriate: the report reinforces the quality of the model (margins and acquisition capacity) and reduces downside risk, but the premium valuation keeps near-term risk/reward less attractive. The next key datapoint is Q1 (July 14) to assess whether organic growth/demand holds up.
Market sentiment
8/10
↑
Trend: Improving
Sentiment has improved after the report due to clear margin expansion and an earnings beat, but is still tempered by recurring concerns about a premium valuation and the need for stronger organic growth to support multiples.
Risk assessment
4/10
Dilution:
Low
Strong cash flow; no major equity raise signaled
Jurisdiction:
Low
Operations mainly in Sweden and Western Europe
Execution:
Medium
Many acquisitions require successful integration
Recent changes
- The new analysis references the FY/Q4 report (20 May 2026) showing clear margin expansion and an earnings beat, improving sentiment while valuation concerns persist.
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Show all changes (2) — follow the company freeAbout the company
Addtech is a value-added industrial distributor selling high-tech components and solutions to manufacturing and infrastructure customers through roughly 150 autonomous subsidiaries. Growth is driven by a mix of organic development and frequent acquisitions, with consistently strong margins.
Sector:
Value-added industrial distribution
Type:
Industrial
Next report
22 Oct 2026
Q2
Catalysts
26 Aug 2026
AGM 2026
Medium
Unknown
FX impact in upcoming reports
Medium
Unknown
Safety segment early read-through
Medium
Horizon:
Bull case
Strong margins in the latest quarter may continue to support the share price.
- The Annual report on 20 May 2026 could confirm earnings strength and dividend level.
- Ongoing acquisition announcements can provide near-term upside catalysts.
Bear case
High valuation makes the stock sensitive to any disappointment.
- FX headwinds may continue to weigh on reported sales.
- Low organic growth could be viewed negatively around the report.
Signal rationale (informational)
Hold remains appropriate: the report reinforces the quality of the model (margins and acquisition capacity) and reduces downside risk, but the premium valuation keeps near-term risk/reward less attractive. The next key datapoint is Q1 (July 14) to assess whether organic growth/demand holds up.
Recent news
- Since 2026-06-21, Addtech published its annual report (2 July 2026) and the Q1 2026/2027 interim report (14 July 2026). Q1 showed sales of SEK 6,172m (+~6% y/y) with 0% organic growth (growth driven by acquisitions), EBITA of SEK 1,026m (+~11% y/y) and a record EBITA margin of 16.6%, plus improved operating cash flow (SEK 605m). Market reaction and media sentiment were mostly positive on margin strength, while the premium valuation and need for a return to organic growth remain key debates.
Price & valuation
Last close
SEK 345
1 week
-3.7 %
3 months
+6.1 %
12 months
+2.1 %
From 52w high
-3.7 %
From 52w low
+18.8 %
Exchange
Stockholm
Type
Industrials
Sector
Value-added industrial distribution
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Firelda provides general information and analysis, not personal investment advice. Content does not consider your financial situation or goals. Investments can rise and fall in value. Always do your own research.