VBG Group VBG B
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Full analysis: 6 Apr 2026
Latest news check: 18 Jul 2026
General analysis — not personal advice.
HOLD
6/10
Confidence
Hold; consider adding after Q1 if organic growth and margins improve.
Hold given a profitable quality business, but weak organic growth and some margin pressure.
- The key near-term checkpoint is Q1 2026, where investors will focus on orders, FX, and margin trend.
- A relatively strong balance sheet reduces downside, but does not remove near-term uncertainty.
Market sentiment
5/10
↓
Trend: Declining
Sentiment has weakened as the market is focusing more on margin pressure from raw materials/tariffs and restructuring costs than on the still-strong order intake.
Risk assessment
5/10
Dilution:
Low
Strong cash generation; no equity raise signaled
Jurisdiction:
Medium
International exposure incl. Brazil and US
Execution:
Low
Proven profitability and acquisition integration
Recent changes
- A new Q1 2026 report appears in the new analysis: revenue 1,376 MSEK and organic growth of 5.3%, but slightly lower margin/EBIT vs. last year. The company also outlined plans for a new Dobřany (Czechia) facility to…
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Show all changes (2) — follow the company freeAbout the company
VBG Group is an industrial group developing and manufacturing components and systems for heavy trucks and trailers, plus power transmission and mobile thermal solutions. The company is profitable and mature, with growth largely driven by acquisitions and FX effects rather than strong organic expansion.
Sector:
Vehicle and industrial components
Type:
Industrial
Next report
27 Oct 2026
Q3
Catalysts
27 Oct 2026
Q3 2026 interim report
High
Q2 2027
New Dobřany (Czechia) plant and consolidation
High
Unknown
Pricing pass-through and tariff developments
Medium
Horizon:
Bull case
Order intake is growing faster than sales, and price increases plus efficiency gains from the Czech consolidation could gradually lift margins.
Bear case
Margins are being squeezed by raw materials and tariffs plus a lag in price pass-through, and the restructuring may keep costs elevated in the near term.
Signal rationale (informational)
Hold given a profitable quality business, but weak organic growth and some margin pressure.
- The key near-term checkpoint is Q1 2026, where investors will focus on orders, FX, and margin trend.
- A relatively strong balance sheet reduces downside, but does not remove near-term uncertainty.
Recent news
- On 17 July 2026, VBG Group released its H1/Q2 report with revenue up 8.7% to SEK 1,480.4m and order intake up 11%, but EBIT fell to SEK 135.5m (9.2% margin) from 12.3% a year ago. The company also booked a SEK 19.3m restructuring provision related to consolidating production within Ringfeder Power Transmission into a new facility in Dobřany, Czechia. The share fell about 5% around the report and has since traded roughly in the SEK 312.5–325 range.
Price & valuation
Last close
SEK 317
1 week
-2.5 %
3 months
-7.6 %
12 months
+15.8 %
From 52w high
-23.4 %
From 52w low
+15.8 %
Exchange
Stockholm
Type
Industrials
Sector
Vehicle and industrial components
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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.