Redeye provides its initial take on Lagercrantz’s Q3 2025/2026 report, which showed strong EBITA growth of 20% y/y, beating our forecast by 5%. In addition, Lagercrantz communicated new, higher financial targets: it now aims for an EBITA margin of 20% in 2-3 years’ time and higher capital efficiency, with P/WC consistently above 60% (previously 15%+ and P/WC over 45%).
