Elanders ELAN B
This picture changes. Follow Elanders free — email when the signal or risk changes + a Sunday weekly brief.
Follow Elanders freeEmail when the signal or risk changes · Sunday weekly brief
No card · No time limit on free tier · Upgrade when you need more
Full analysis: 6 Apr 2026
Latest news check: 16 Jul 2026
General analysis — not personal advice.
HOLD
7/10
Confidence
Maintain the position; consider adding only if Q2 confirms sustainable margins and improving cash conversion/continued deleveraging.
Hold: Q1 confirms cost actions are flowing through to profitability and the company can deliver higher margins despite weaker revenue. At the same time, revenue momentum and cash conversion are weaker YoY, so upside still depends on evidence of stabilising volumes and continued deleveraging.
Market sentiment
7/10
↑
Trend: Improving
Sentiment has improved slightly after a report showing clear margin expansion despite lower sales, plus a more explicit plan to reduce the cost base (leases) and an upcoming CEO transition. However, concerns remain around volumes/sales and the drag from overcapacity until the measures fully flow through.
Risk assessment
6/10
Dilution:
Low
No announced equity raise; operating cash flow positive
Jurisdiction:
Low
Sweden-based; mostly stable operating regions
Execution:
High
Turnaround and savings must be delivered in results
Recent changes
- Q2 2026 showed lower revenue but improved adjusted EBITA and margin. The company announced actions to address overcapacity via US/UK lease changes and confirmed the CEO transition on Sep 1, 2026.
The full analysis is open. Follow the company free for the full change history — and email next time the picture changes.
Show all changes (3) — follow the company freeAbout the company
Elanders is a global provider of integrated supply chain solutions and services within print and packaging. The business is dominated by Supply Chain Solutions, while Print & Packaging is more cyclical and structurally challenged. The company is in a restructuring/turnaround phase with improving margins but high leverage and weak organic growth.
Sector:
Logistics and supply chain management
Type:
Industrial
Next report
23 Oct 2026
Q3
Catalysts
1 Sep 2026
New CEO takes office (Florian Beck)
Medium
1 Sep 2026
CEO transition: Florian Beck takes office
Medium
23 Oct 2026
Q3 2026 report
Medium
Horizon:
Bull case
Margin improvement after Q4 could continue.
- Cost savings program may start showing impact soon.
- Depressed valuation could drive a relief rally on a decent Q1.
Bear case
Organic decline may persist, especially in Europe.
- High leverage and interest costs weigh on earnings.
- Risk of another disappointment if volumes (e.g., automotive) weaken.
Signal rationale (informational)
Hold: Q1 confirms cost actions are flowing through to profitability and the company can deliver higher margins despite weaker revenue. At the same time, revenue momentum and cash conversion are weaker YoY, so upside still depends on evidence of stabilising volumes and continued deleveraging.
Recent news
- The Q2 2026 interim report (released 2026-07-15) showed net sales of SEK 2,921m (3,044), organic growth around +3% and adjusted EBITA of SEK 181m (167) with a 6.2% margin (5.5%). The company announced measures to address overcapacity in North America and the UK by renegotiating/terminating major lease agreements over the next year, and stated it has sufficient capacity for organic growth through 2027 without new lease commitments. Florian Beck is confirmed to take over as CEO on 1 September 2026.
Price & valuation
Last close
SEK 54.60
1 week
+1.1 %
3 months
+16.4 %
12 months
-0.5 %
From 52w high
-21.4 %
From 52w low
+27.3 %
Exchange
Stockholm
Type
Industrials
Sector
Logistics and supply chain management
This picture changes. Follow Elanders free — email when the signal or risk changes + a Sunday weekly brief.
Follow 3 companies freeEmail when the signal or risk changes · Sunday weekly brief
No card · No time limit on free tier · Upgrade when you need more
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.