Investment AB Latour’s shares tumbled 27.25% in pre-market trading on Tuesday, falling to SEK 191.15 from SEK 262.75, as investors reacted to the company’s Q2 2026 results. The decline brought the stock within 3% of its 52-week low of SEK 185, according to InvestingPro data.
The Swedish investment firm reported a 4% year-over-year increase in net sales to SEK 7.2 billion, while adjusted earnings before interest and taxes (EBIT) rose 4% to SEK 999 million, with a margin of 13.8%. Organic order intake grew 13% year-over-year, and the order backlog reached a record SEK 8 billion. Consolidated net debt decreased to SEK 12.3 billion from SEK 15.3 billion in the prior-year period, representing about 9% of the market value of investments.
Net asset value (NAV) declined 3.7% in the first half of 2026 to SEK 203 per share, adjusted for dividends, compared with an 8.1% rise in the SIXRX index. The share price traded at an 8% discount to NAV as of August 18, up from a 5% discount at the end of June. The company’s portfolio value stood at SEK 75 billion as of mid-August.
Latour completed five acquisitions in Q2 and two in Q1, adding SEK 700 million in annualized net sales year-to-date. Partial divestments of holdings in ASSA ABLOY and Securitas AB were executed in May, leaving the firm with 29% voting rights in ASSA ABLOY and 27.6% in Securitas AB. CEO Johan Hjertonsson noted that the divestments would fund further expansion in wholly owned operations.
Unit-level performance varied: Nord-Lock Group’s organic net sales grew 8% with an operating margin of 28%, while Swegon reported a 20% rise in organic order intake and 5% growth in net sales. Caljan’s net sales increased 3% but operating profit was impacted by SEK 20 million in tariff-related provisions. Hultafors Group’s adjusted operating profit rose to SEK 252 million, aided by a SEK 13 million tariff repayment.
The company’s market capitalization stands at SEK 12.63 billion, with a trailing P/E ratio of 27.6 and a dividend yield of 2.71%. The firm has maintained dividend payments for 19 consecutive years.
