Earnings call transcript: Asker Healthcare tops growth goals in Q3 2026

In Q3 2026, Asker Healthcare reported impressive financial results that exceeded growth expectations. The European healthcare distributor's third-quarter sales surged 15% to SEK 4.8 billion, while adjusted EBITDA increased 24% to SEK 473 million. This performance helped the company reach a 10% EBITDA margin on a rolling 12-month basis for the first time, surpassing its target and signaling improved profitability.

Asker's organic growth stood at 5%, outperforming the market's estimated 3% to 4% in many regions. The company's acquisition pipeline remained robust, with about 200 active contacts across 19 markets. The Gothenburg distribution center, a major investment, is expected to generate benefits in 2027, though it currently imposes a near-term cost and working capital drag.

The company's performance was broad-based, with the North division showing strong organic growth, the West division delivering margin gains, and the Central division experiencing rapid total growth driven by acquisitions and portfolio cleanup. Net sales rose 15% year over year, while on a rolling 12-month basis, the EBITDA margin reached 10.0%, a milestone for the company.

Return on invested capital stood at 69% for the quarter and 69% on a 12-month basis, and the net debt to EBITDA ratio remained below the company's covenant threshold of 2.5x.

Investors reacted positively to the earnings report, sending Asker Healthcare's stock up 8.18% to $74.1 in premarket trading. The stock's gain of 22.7% above its 52-week low and 22.5% below its 52-week high left the shares in the middle of their yearly range. Management expressed confidence in the company's long-term strategy, citing the combination of organic growth, acquisitions, and margin expansion as key drivers of success.