SP Group, the Danish industrial conglomerate, posted a 52% earnings-per-share beat in the second quarter of 2026 as revenue surged 44.6% year-over-year to DKK 984 million. The company’s stock rose 0.42% to $482.00, nearing its 52-week high of $491.50.
The group’s H1 2026 revenue totaled DKK 1.95 billion, a 32.9% increase from the prior-year period, driven by 19.7% organic growth and acquisitions. Earnings before interest, taxes, depreciation and amortization (EBITDA) climbed 36.2% to DKK 397 million, while EBIT reached DKK 280 million, up 45.4%. Net debt-to-EBITDA improved to 1.9 times from 2.4 times at year-end 2025.
Revenue growth was broad-based across product segments. Healthcare revenue rose 18% to DKK 688 million, while cleantech revenue increased 40% to account for 29% of total sales. Foodtech revenue surged 61%, and other segments—including maritime, automotive and defense—grew 37%. Sub-supplier tasks contributed 76% of revenue, with own-brand products making up the remaining 24%. The company also reported 18% utilization of recycled plastics, targeting 25% by 2030.
SP Group raised its full-year 2026 revenue guidance to DKK 3.6-3.8 billion, up from 22-28% previously, with acquisitions expected to contribute 16-17% of growth. EBITDA and earnings-before-tax margins were maintained at 19-21% and 11-13%, respectively. Management also highlighted the potential to accelerate its DKK 4.5 billion revenue target for 2030 to 2027 or 2028 amid ongoing acquisition activity.
The company announced the acquisition of OGM Moulding for £18 million (~DKK 158 million), its first UK production base with facilities in Oxford and South Wales. The deal includes an earn-out of up to £6 million tied to EBITDA targets for 2027-2028. OGM reported EBITDA of £4.4 million for the fiscal year ending May 2026, with 2027 guidance of £3.5-3.7 million. Financing for the acquisition slightly increased SP Group’s net debt-to-EBITDA ratio by 0.1 times.
SP Group operates in 14 countries with 35 factories across 10 nations and employs over 3,000 people. The group’s healthcare segment accounted for 35% of H1 revenue, cleantech 29%, foodtech 14%, and other segments 22%. CEO Lars Bering noted that organic growth of 19.7% in H1 reflected strong demand across both sub-supplier tasks and own-brand products, while CFO Allan Jeppesen emphasized a cautious approach amid geopolitical tensions despite confidence in the upgraded guidance.
