Volati Ab · OMXSTO:VOLO
Volati Ab — Q2 2026 Earnings Presentation
20 slides from Volati Ab's earnings presentation, Jul 17, 2026
Slide 1: Q2 Interim Report Apr-Jun 2026
Q2 Interim Report Apr-Jun 2026 Andreas Stenbäck, CEO Charlotta Nyberg, CFO 17 July 2026 Volati Interim Report April - June 2026 1
Slide 2: Value creation through development of our five platforms across 18 markets
Value creation through development of our five platforms across 18 markets Volati home markets Subsidiaries SEK 4 470m SEK 262m ~1800 Net sales LTM Q2 2026 EBITA LTM Q2 2026 Employees Focus on value creation through the development of our five platforms (business areas) Volati Interim Report April -
Slide 3: Strong cash flow creates the conditions for continued value growth
Strong cash flow creates the conditions for continued value growth • Net sales increased by 11% while EBITA decreased to SEK 91m compared to SEK 132m the previous year • Strong growth in Ettiketto Group and Communication • Corroventa in line with expectations in its seasonally smallest quarter • Low
Slide 4: Separate listing of Salix Group highlights value creation during Volati's ownership
Separate listing of Salix Group highlights value creation during Volati’s ownership • Acquired in 2015 for just over SEK 500m, built into a listed platform with a market capitalisation 11,6x Invested capital1 of SEK 5.5b • Expanded through nearly 20 add-on acquisitions under Volati’s ownership 1055%
Slide 5: Financial development, Q2 2026
Financial development, Q2 2026 Net sales EBITA Operating cash flow Net debt/adjusted EBITDA SEK 1,335 m SEK 91 m SEK 163 m 2.9 x (Q2 2025: 1,201) (Q2 2025: 132) (Q2 2025: 105) (Q2 2025: 3.0x) Net sales, SEK m EBITA, SEK m 1,500 175 1,250 150 125 1,000 100 750 75 500 50 250 25 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q
Slide 6: Financial development, LTM Q2 2026
Financial development, LTM Q2 2026 CAGR +9% Net sales 4,470 472 SEK m 419 (Q2 2025: 4,360) 390 341 318 EBITA 303 262 262 SEK m (Q2 2025: 382) 11,2% 168 10,7% 10,1% 9,1% Operating cash flow 7,4% 7,4% 7,0% 306 5,9% SEK m (Q2 2025: 332) 2020 2021 2022 2023 2024 2025 LTM Q1 2026 LTM Q2 2026 EBITA margin
Slide 7: Financial targets
Financial targets EBITA growth Return on adjusted equity Capital structure The target is an average annual growth in The long-term target is a return on The target is a net debt/adjusted EBITDA1 EBITA1 per ordinary share of at least 15 adjusted equity1 of 20 percent. ratio of 2 to 3 times, and not e
Slide 8: Five business areas with growth focus
Five business areas with growth focus Ettiketto S:t Eriks Tornum Communication Corroventa Group Group Group Critical High-quality Manufacturer and Supplier of grain Self-adhesive labels infrastructure products for dealing supplier of handling, feed and machines for solutions through with water damag
Slide 9: Ettiketto Group
Ettiketto Group • Net sales increased by 37%, reflecting both acquisition and organic growth • EBITA increased by 8%, margin impacted by lower-margin acquisitions, with gradual improvement expected through 1,434 operational improvements 21.4% 1,316 20.6% 1,203 • Material shortages resulting from the
Slide 10: Communication
Communication • Net sales increased by 25% compared to previous year, supported by slightly easier comparative figures 766 • Demand remained subdued in key markets but was offset 744 by strong project deliveries 691 667 653 694 • EBITA margin improved by 3 percentage points resulting in a 55% increa
Slide 11: Corroventa
Corroventa • Performance in line with expectations in a seasonally small quarter 365 • Net sales and EBITA decreased, mainly due to dry weather 324 conditions, similar to the previous year 315 • Following the end of the quarter, acquisition of Tramex 34.9% 268 266 258 marks Corroventa's first add-on
Slide 12: S:t Eriks Group
S:t Eriks Group • Net sales increased by 1%, while the construction and civil engineering market remained challenging • Infrastructure segment stable, although the water and 1,518 1,511 wastewater segment showed signs of slowing down 1,340 • EBITA declined, primarily due to lower production rates 1,
Slide 13: Tornum Group
Tornum Group • Net sales decreased by 8% in a market characterised by low grain and pulp prices • The war in the Middle East continues to weigh on order 951 905 924 intake 830 838 816 • The underlying investment needs remain, but are being deferred 638 • Order backlog is slightly stronger than last
Slide 14: Focused actions in Tornum Group and S:t Eriks Group to improve profitability
Focused actions in Tornum Group and S:t Eriks Group to improve profitability Tornum Group S:t Eriks Group Background Background • Lower market activity has reduced project volumes • Low market mainly in construction has resulted in • Price competition has pressured margins low volumes for many years
Slide 15: Add-on acquisitions to existing platforms have contributed with 19 acquisitions since 2020
Add-on acquisitions to existing platforms have contributed with 19 acquisitions since 2020 Ettiketto S:t Eriks Tornum Communication Corroventa Group Group Group Beneli SALES Scanmast SALES Tramex SALES Byggsystem SALES JPT SALES June 2020 160 June 2021 290 July 2026 90 June 2021 60 January 2021 80 M
Slide 16: Acquisition of Tramex
Acquisition of Tramex USA • Provider of premium moisture measurement solutions Australia for the water damage restoration and construction markets • Family-owned company with a revenue of ~SEK 90m, New Current and an adjusted EBITA margin of around 20% markets markets • Complementary business with d
Slide 17: Add-on acquisitions are an important value driver for Volati and our platforms
Add-on acquisitions are an important value driver for Volati and our platforms 986 • Following Salix Group's acquisition- driven expansion, focus is now on Inkluding NicEtikett and accelerating acquisition activity across Tramex remaining platforms • Platforms, financial capacity and 613 4 575 proce
Slide 18: Well positioned for further acquired growth
Well positioned for further Net debt, SEK m acquired growth 2 510 2 547 2 435 2 579 2 183 2 223 2 189 2 105 2 081 1 907 1 812 1 713 • Strong cash flow in the quarter, with a net debt/adjusted EBITDA ratio of 2.9x 1 147 • LTM Q2 2026 operational cash flow of SEK 307 and total cash generation of 86% 2
Slide 19: Summary
Summary • Strong performance in Communication, while Ettiketto and Corroventa performing in line with expectations • Weak earnings in S:t Eriks Group and Tornum Group are met with continued profitability improvement initiatives • Strong operating cash flow has enabled three acquisitions in 2026, add
Slide 20: volatl.
volatl.