The radiotherapy giant outlines a mid-term financial roadmap, but market response highlights ongoing investor concerns.
Elekta, a Swedish medical technology company, has now laid out a new set of mid-term financial targets as it looks to sharpen its growth strategy in the global oncology market. The update was shared ahead of the company’s Capital Markets Day in Stockholm and offered a clearer picture of how it plans to improve profitability and strengthen its market position over the next three years.
The company is targeting mid-single-digit annual sales growth in constant currency between fiscal 2025/26 and 2028/29. Along with this, it also aims to achieve an adjusted EBIT margin of 14% to 16% and generate free cash flow equivalent to roughly 10% of sales by the end of that period.
Focusing on operational efficiency and innovation.
At the core of Elekta’s revised strategy is a stronger focus on operational efficiency and innovation. The company says margin improvements will likely come from better product pricing, increased adoption of adaptive radiotherapy, and streamlined internal processes.
Elekta has also introduced a new operating model aimed at speeding up innovation and improving execution across its regional markets. The company identified the United States, China, and Europe as its key growth drivers—markets where demand for advanced cancer treatment technologies continues to rise.
Investors still feel hesitant.
Despite the forward-looking targets, Elekta’s shares slipped more than 3% following the announcement, signaling investor caution. Analysts suggest that while the long-term goals are ambitious, the market may be waiting for stronger near-term performance before fully buying into the strategy.
For fiscal 2026/27, the company expects modest sales growth of 2% to 4%, with adjusted EBIT margins between 12.5% and 13.5%, indicating that its profitability recovery could take time. Elekta’s latest targets reflect a wider trend in the medtech sector, where companies are under growing pressure to balance innovation with financial discipline.
As cancer care technology evolves, execution and scalability are becoming just as important as product development, something Elekta now appears keenly focused on proving.
