Arribatec Group ASA reported improved profitability in the second quarter of 2026, with adjusted EBITDA rising to NOK 15.2 million from NOK 14.0 million a year earlier, lifting its margin to 10.9% from 9.8%. The company maintained flat revenue of NOK 139.4 million year-over-year in constant currency terms, though currency effects from a stronger Norwegian krone weighed on reported figures.
Over the last 12 months, Arribatec’s adjusted EBITDA increased 8.1% to NOK 581.4 million, while its LTM adjusted EBITDA margin reached 9.9%. Operating cash flow for the period totaled NOK 64 million, with a cash conversion rate of 99% from EBITDA. The group ended the quarter with NOK 27 million in cash and an untapped NOK 20 million credit facility.
Management highlighted the sixth consecutive profitable quarter, marking the completion of a turnaround initiated in 2024. Headcount remained stable at around 250 employees and long-term contractors, serving approximately 800 clients across industries in the first half of the year.
Business services, the largest unit, saw historically high tender activity but reported revenue declines due to project phasing in the U.K. and Central Europe. Nordic operations performed in line with expectations, while the company executed a global ERP platform project for Höegh Autoliners. Enterprise architecture and BPM operations underwent restructuring, including new leadership, cost reductions, and renegotiated contracts with partners such as QualiWare, contributing to improved margins.
Cloud services faced pressure from client attrition in prior periods but stabilized in Q2, supported by demand for sovereign cloud solutions and compliance work tied to the EU AI Act. CEO Ole Jakob Kjølvik noted that earnings growth outpaced revenue, with cash generation closely aligned to profitability. CFO Bent Hammer emphasized that margin improvements were internally driven rather than dependent on currency movements.
