AFRY Q3 2026 slides: margins expand as organic decline narrows

AFRY, a Swedish engineering and consulting firm, disclosed its Q3 2026 financial results on October 22, showcasing a recovering business with enhanced operational metrics despite persistent challenges in organic growth. The company reported SEK 5.8 billion in net sales and a 6.8% EBITA margin, marking the fourth consecutive quarter of year-over-year improvements.

Investors reacted favorably, with shares climbing 13.02% to $117.2 in pre-market trading following the announcement. The presentation emphasized stable performance backed by a robust order backlog of SEK 22.1 billion, up 8.3% year-over-year, and rising utilization rates of 72.9%. Although adjusted organic growth remained negative at -1.5%, it represented the smallest decline since early 2025, indicating the company may be nearing an inflection point.