Röko Posts 44% Q3 Sales Growth as Leverage Reaches 2.6 Times EBITDA

Röko AB's third-quarter net sales rose 44% from a year earlier to SEK 2.18 billion, while adjusted EBITA climbed 57% to SEK 433 million. At Sept. 30, financial net debt equaled 2.6 times adjusted EBITDA for the prior 12 months.

Net sales increased from SEK 1.518 billion in the comparable quarter. Röko attributed the expansion to acquisitions, 9% organic growth and a 2% positive currency effect. The company released the results Friday, Oct. 23, at 2 a.m. ET (06:00 UTC).

Adjusted EBITDA totaled SEK 492 million against SEK 319 million. Based on those figures, the measure grew about 54%. Adjusted EBITA, by contrast, rose from SEK 275 million to SEK 433 million, the change recorded as 57%. The higher 57% rate applies to EBITA; the EBITDA totals point to a smaller percentage gain.

Financial net debt at quarter-end was higher than a year before, when it stood at 2.1 times trailing 12-month adjusted EBITDA. Röko's calculation includes put/call option liabilities and earn-out payments. Interest-bearing net debt alone came to 1.1 times adjusted EBITDA. The broader ratio therefore counts obligations beyond interest-bearing debt.

The company's long-term leverage target is no more than 3.0 times. Röko said acquisition timing may push the ratio above that target temporarily. The 2.6-times ratio was below target and about 60% of the bank covenant threshold.

Röko acquired and consolidated five companies during Jan. 1-Sept. 30, 2026; their combined annual net sales amounted to SEK 1.543 billion. The group has 35 business units across multiple industries and describes its approach as long-term ownership of European small and midsize companies. Since its 2019 founding, it has completed more than 40 acquisitions.

One portfolio company, ETB Technologies, supplies refurbished IT equipment, including networking and memory products. ETB contributed about six percentage points of Röko's 9% organic sales growth. The company connected ETB's results with investment in artificial intelligence and data centers, which it said is driving a global shortage of storage memory.

The net sales and earnings figures cover July through September; the acquisition and consolidation count covers the first nine months of 2026.