Troax Group Ab Class A · OMXSTO:TROAX
Troax Group Ab Class A — Q1 2026 Earnings Presentation
17 slides from Troax Group Ab Class A's earnings presentation, Apr 21, 2026
Slide 1: First Quarter 2026
FIRST QUARTER 2026 MARTIN NYSTRÖM PRESIDENT & CEO 21 APRIL, 2026
Slide 2: First quarter highlights
First quarter highlights • Record order intake – growth driven by acquisitions o Total order intake and net sales increased, driven by recent acquisitions o Organic order intake decreased year-on-year, but improved vs Q4 o Organic invoicing declined, mainly due to ramp-up challenges in Nashville 18%
Slide 3: First quarter highlights
First quarter highlights • EBITA impacted by low volumes and ramp-up issues o Gross margin in line with last year and improved vs Q4 o Increased sales and marketing costs origin from acquisitions o Cost synergies expected as acquisitions are integrated 10.1% Adjusted EBITA margin (excl. one-off item
Slide 4: Acquisitions strengthening portfolio and growth potential
Acquisitions strengthening portfolio and growth potential • Broader portfolio from recent acquisitions (Vich acquisition completed in January 2026) • Strong demand for flexible barriers and data centre safety solutions • Cost synergies expected as acquisitions are integrated • Order intake share of
Slide 5: High pace of transformation towards our 2030 targets
High pace of transformation towards our 2030 targets • Production ramp-up in Sweden ongoing after transfer from Poland • Commercial partitioning discontinued following portfolio review, (incl. closure of manufacturing site in the UK)* • Production transfer from Chicago to Portland progressing at hig
Slide 6: Operational ramp-up progressing in North America
Operational ramp-up progressing in North America • New facility in Portland (Nashville) will start operating in May • Delivery performance from the new Nashville warehouse close to full capacity • Improved competitiveness through full automation, best practices, and cost-effective location • Higher
Slide 7: Racking footprint optimisation
Racking footprint optimisation • Racking portfolio streamlined to improve efficiency and simplify our offering • Production transfer from Poland to Sweden successfully completed • Ramp-up ongoing, with customer deliveries underway • Previously communicated annual savings of ~EUR 5 million expected a
Slide 8: Market development
Market development Total (Organic intake YoY, excl. FX) -5% Automotive Warehouse Construction Process Other Total ~15% ~35% ~10% ~10% ~30% 100% Share of sales OI change (2025) (YoY) Northern Europe -20% 67% Southern Europe 10% Americas 12% 36% APAC 21% -31% < -5% -5% to 5% >5% Q1 interim report 2026
Slide 9: Order intake growth (YoY)
Order intake growth (YoY) Order intake by quarter (MEUR) Bridge +18% +18% 82,0 69,5 -2% 82,0 69,5 +25% -5% 21-Q4 22-Q4 23-Q4 24-Q4 25-Q1 25-Q2 25-Q3 25-Q4 26-Q1 25-Q1 Organic Structure FX 26-Q1 Q1 interim report 2026 9
Slide 10: Sales development Q1
Sales development Q1 Sales by quarter (MEUR) Bridge +5% +5% 71,8 68,3 -2% 68,3 71,8 -14% +20% 21-Q1 22-Q1 23-Q1 24-Q1 25-Q1 25-Q2 25-Q3 25-Q4 26-Q1 Q1-25 Organic Structure FX Q1-26 Q1 interim report 2026 10
Slide 11: EBITA development
EBITA development Adjusted EBITA margin 20 20 10.1% 15 14,0 15 • Lower organic volumes in EMEA and ramp-up of our new Americas site put 10,1 10 10 pressure on the EBITA-margin • The profitability gap in Americas 5 5 decreased to ~150 bps (vs. 300 bps in 9,5 7,2 Q4-25) due to price adjustments 0 0 •
Slide 12: Operating cash flow development
Operating cash flow development 25 180 90 Free operating cash flow 0 4.5 MEUR 3,6 4,5 0 -90 21-Q1 22-Q1 23-Q1 24-Q1 25-Q1 25-Q2 25-Q3 25-Q4 26-Q1 Operating cash flow (MEUR) R3 Cash conversion % Q1 interim report 2026 12
Slide 13: Net debt development
Net debt development 160 3,0 2,7 Target: Net debt/EBITDA <2.5 over time Financial Net debt / EBITDA 140 2,5 120 2,0 2.7 (R12) 100 1,5 80 1,0 • Net debt increase during Q1 60 due to acquisitions 40 0,5 • Target is to remain below 2.5 20 0,0 21-Q1 22-Q1 23-Q1 24-Q1 25-Q1 26-Q1 Financial net debt Net d
Slide 14: Financial summary
Financial summary KEY FINANCIALS (MEUR) Q1 2025 Q1 2026 69.5 GROWTH (YoY) OI Sales Order intake 82.0 Organic -5 -14 Sales 68.3 71.8 Structure +25 +20 Adj. EBITA 9.5 7.2 Organic + structure 20% 6% Adj. EBITA (%) 14.0% 10.1% Currency -2 -2 Net debt / EBITDA 0.9 2.7 Total 18% 5% EPS (adjusted) 0.10 0.0
Slide 15: Looking ahead
Looking ahead • Market conditions remain uncertain – we are actively preparing to adapt both up and down • Our strategy for profitable growth is unchanged – keeping the course • Broader portfolio through acquisitions and strong demand for flexible barriers and data centre safety solutions • Optimise
Slide 16: Q&A
Q&A Q1 interim report 2026 17
Slide 17: Thank you!
THANK YOU!