Thank you.

Do you hear anything?

We hear you, Johnny.

Peter, do you hear me?

Yes, Johnny, we hear you.

Hello.

Hello, Johnny. We hear you.

Ladies and gentlemen, welcome to this presentation of Beijer Alma second quarter 2026. If you hear some strange noises around me, it's because I'm sitting in a sailboat in the middle of the Baltic Sea.

It's old waves, but no wind, and that's why there are some strange noises. Together with me is Peter Forslund, who is the CFO of Beijer Alma, who will present the financial figures.

Good morning, everybody.

This agenda: I will talk a bit about highlights from Q2, and then we talk about financial performance, then acquisitions, and finally Q&A. We increased our net revenue by 5% in this quarter, and we have adjusted EBITDA of 14%.

If you look at the market, and we are working in many areas of the world, and we start in United States where we are with Beijer Tech—Beijer Components, it's been a good quarter and we see a strong market in United States. As we are manufacturing springs, we are in many, many different customer segments, but it seems like in the first half year, there's been a strong market in United States and it seems to continue that way.

If you go to Europe, that means Europe excluding Nordic, it's been a much weaker market. It's been stable, but really no increase in the market.

We have also still some problems to solve for Alcomex that we work with, and will be not solved probably before end of this year. In the Nordic region, we have seen a smaller growth, stable market, and also a slight growth general for the components, and actually a nice growth organically for Beijer Tech in Nordic.

If we go to Asia, where we have the spring business, it's been a stable business over the period. Then specifically we talk about Beijer Tech.

It has been a very good quarter where we have made acquisitions, we have had organic growth, and we come back to that later on, but it's been a good quarter. I have some hope for the coming quarters in this year that will continue to be strong quarters for 2026.

By that, I give the word to Peter.

Thank you, Johnny. We will now go into a little bit more detail for both Components and Tech, but also a little bit on the general.

As Johnny mentioned, we see a continued profitability improvement, both in Components and Tech. We have a strong EBITA growth coming up to 14% year-over-year.

We see a stable demand during the quarter, not reaching really the heights of late March for the first quarter, but overall stable and we are satisfied with the performance. Johnny mentioned also US, specifically, and US is the market together with niche within Beijer Tech that has the highest demand.

We've also seen a very limited effect from the geopolitical turmoil on the Q2 numbers. What happens in the future, let's see, but so far not much of an impact.

Great. We will go further.

If you look at the sales development, we have a slightly organic growth within the quarter, but still some currency headwind. If we look at the Components, we have more currency headwind than we have in Tech, that is fairly neutral.

If you look at the organic growth a little bit more specifically, there are still the effects from the action plan. We're saying that we're losing around 50%—50 million SEK on top line based on the deals that we have decided not to do in the action plan.

The underlying organic growth is a little bit stronger than the 1%. Acquisitions are contributing then 5%, and please remember that the five acquisitions we made this year is fairly late in the quarter, you will see the full impact during the third quarter rather than here in the second quarter.

Moving on to a little bit more details on Beijer Components. If you look at the chassis spring business, we see a slightly lower demand in the quarter compared to last year.

Specifically, this comes from Germany and from UK. On the demand side, we see a better demand in Eastern Europe, but we see that the business is stable.

It's not that much that has changed. It's just the demand moving a little bit sideways and a little bit lower.

Nothing dramatically in chassis springs. Still good profitability in chassis.

Industry, we talked about a little bit on the regions. US is the strongest, and exactly as Johnny mentioned around Europe, that we see Europe is stable, but it's not improving and becoming better.

The industrial demand is moving sideways in Europe rather than improving. We have the effects from the action plan, as we discussed earlier.

What is great is that we see a broad profitability improvement over the different regions, not only in one or two, but there is broad improvement on the profitability. Looking at Alcomex, Alcomex delivers a stable Q2 result, profitability moving sideways.

We're very close to double-digit, but still not really there. Alcomex is stabilizing, and the performance is solid here in the second quarter.

Moving then to Beijer Tech. Beijer Tech has a very strong quarter, 8% organic growth, and then five acquisitions.

Beijer Tech is really performing on a high level. If you look at the demand side specifically in the different segments in Beijer Tech, then we see that industrial products, there is still a little bit of a cautious demand when it comes to industrial product, but not bad in any way, but a little bit cautious.

Fluid with a solid organic growth. There is a wide range of businesses there in the valves that are performing on a good level.

Niche technologies has had a very, very good year, and that continues. Several companies are contributing in a good way.

If you look at the profitability improvement that we see in Beijer Tech, so that is all that is driven by both demand, but also a little bit of mix where we have, to say, more revenue in the niche technologies businesses, which tends to have a little bit of higher margin. Looking at Beijer Tech as a whole, we now have a period of 12 months behind us with a very solid organic growth.

I think we've had 8% in Q3 last year, 8% in Q4, 6% in Q1, and now 8% here again in Q2. It's a very solid delivery here over time from Beijer Tech.

Looking at the cash flow side, we come out with a strong cash flow in the quarter driven first and foremost by the profit growth, but also that we in the quarter sees a positive working capital development, meaning that last year in the second quarter, we had a negative working capital development, and now we have a positive, meaning that the swing gets fairly significant between second quarter last year and second quarter this year. Looking at capital efficiency, which is one of our financial targets, we are catching in soon to reach the 50%.

We see a good development in the capital efficiency, both in, to say, adoption internally, but also in the development in the numbers. A solid performance of capital efficiency, very much driven by the EBITA growth.

Moving over to the financial position, net debt stays at 1.7 despite us doing five acquisitions and paying dividend. That's, of course, helped by the strong cash flow.

We see that we have a good financial strength to continue to invest and to reach the set targets that we have. From a leverage perspective, it's a solid delivery.

With those comments, I will hand back to you, Johnny, to talk a little bit about the acquisitions that we have done in the quarter.

Thank you. This is picture showing the acquisitions we've done since 2010.

As you've seen, it varied over the years, but I think now our ambition is to continue to grow the acquisitions, and we have two teams now: one team since many years working with Beijer Tech, but also a new team working with Beijer Components. We are waiting now for them to be able to make their first deal.

If we look at the acquisitions done second quarter, it's in Beijer Tech. The first is a Swedish company in Uppsala who is an add-on to one company we have who is Lundgrens.

They're working with piping service. We made our first acquisition outside the Nordic, and that is a fluid company because we have a lot of fluid competence.

It's by contacts and knowledge we ended up this business. Kikab is actually an company who's doing sludge screw compressors who's adding to a product program that we have earlier in this area with processing sludge.

JR-Wood is a Finnish company who's very special business who is an intermediate between supplier of material for refurbishing houses and refurbisher. They make kits of what is needed when you refurbish a house.

The companies doing the refurbishment make a specification what they want, and JR-Wood's manufacture this, make a package of it, and deliver to the house that's supposed to be refurbished. This is a business I haven't seen in Sweden.

It's very very special for Finland, but they have been very solid in market for long time, have a nice profit. Finally, it's Steinar H.

Sunde, is valve company in Norway working to the oil sector in Norway. I know there will come a few more acquisitions in Beijer Tech in Q3 as well.

The summary is that it's a stable industrial demand, and we continue to improve our profitability, and we are aiming at a higher level than we are today. We have so far not been impacted by the geopolitical turmoil in the quarter.

A few price increases on some material, but not in a major in that area, and not what we have seen with our customers as well. By that, we go over to the Q&A.

Yes, good morning, everyone. Just, Jonny, if you could explain a little bit on Components, the team you talked about on M&A, how those working processes are progressing and when you think they can start deliver on sort of growth.

Would be interesting to hear.

We hired one person from, I think it was 1st of February, 1st of March, and is experience person. We have also now released one person in the European organization.

We have now building up a number of cases. It takes time to get relations with different people out in the organization, but I hope there will be something in this autumn, but you never know until the deal is done.

Got you. Also on Components, presumably there will be needed price hikes, and I'm sure you did some in Q2 already, but how far have we come in compensating for raw material cost inflation?

Is that something that is mainly ahead of you in the second half, or do you think you've come sort of a long way on actually compensating for raw mats?

Many of the production orders are actually is not long-term orders, it's an order you take and you set the prices. That means we compensate from day one for it.

I think we have done maybe 60, 80% already.

Got you. Thank you so much.

I haven't seen any written questions. Have you, Peter?

No, there are no written questions at this point in time.

I guess there are many, many presentations today,

but

anytime you're welcome to come back to us if you have any questions. Thank you for today, and we hear from each other at least after Q3, and I wish you a good summer.

Goodbye.

Goodbye.