$CLAV (-1,57 %) published its figures for Q1 on 07.05.2026.
The order backlog amounted to SEK 640 million and incoming orders in Q1 2026 amounted to SEK 313 million (highest quarterly figure), of which SEK 280 million was attributable to the major order concluded with the Norwegian Armed Forces in mid-January.
Around SEK 162 million of the order backlog is expected to be realized over the next 12 months.
At SEK 72 million, sales in Q1/2026 were 34.6% higher than in Q1/2025.
The sales trend in the defense sector is certainly positive, but a high proportion of these sales are non-recurring in contrast to the civil sector. $CLAV (-1,57 %) shows a rather moderate increase in recurring sales of +5.9% compared to Q1/2025.
Operating expenses included one-off expenses of SEK 3.6m in connection with the major order. Apart from that, the figures now also show the shift from the euro loan to the SEK loan.
Cash flow outflow in Q1/2026 SEK -27.4 million.
How do you see the development of $CLAV (-1,57 %) and what is your assessment of the Q1/2026 figures?