Incap reported October 29 that third-quarter revenue increased 56% to €80.7 million, attributing the growth to its Lacon Group acquisition and stronger demand from defense customers.
Organic revenue growth was 18%, supported by projects from existing and new customers, according to the company’s unaudited business review.
Comparable EBITA increased to €8.6 million from €5.8 million. Its margin nevertheless declined to 10.7% from 11.1%, as revenue grew faster than that earnings measure.
Reported operating profit rose to €7.9 million from €6.7 million, with the operating margin falling to 9.7% from 13%.
Incap said component and printed-circuit-board availability remained challenging. It reported managing those constraints through coordination with suppliers and customers, while higher production volumes increased working-capital needs and affected operating cash flow.
For 2026, the company forecast revenue of €270 million–€290 million and comparable EBITA of €26 million–€29 million, subject to no unexpected disruptions in its business environment.
The manufacturer operates in Europe, India and the United States, among other locations. Management plans to present an updated strategy November 17; that presentation has not yet occurred.
Sources: Incap — October 29 Stock Exchange Release: https://www.mfn.se/a/incap/incap-corporation-incap-groups-business-review-for-january-september-2026-unaudited.iframe