Duni Ab · OMXSTO:DUNI
Duni Ab — Q1 2026 Earnings Presentation
21 slides from Duni Ab's earnings presentation, Apr 24, 2026
Slide 1: Interim Report Q1 2026
Interim Report Q1 2026 Stabilized development in a challenging market Robert Dackeskog, President and CEO Magnus Carlsson, CFO 1
Slide 2: Disclaimer
Disclaimer – This presentation has been prepared by Duni AB (the “Company”) solely looking statements involve known and unknown risks, uncertainties and for use at this investor presentation and is furnished to you solely for your other factors, which are in some cases beyond the Company’s control i
Slide 3: Agenda
Agenda • Highlights • Market outlook • Q1 summary • Business areas • Financials • Our long-term targets • Summary • Q&A 3
Slide 4: Highlights Q1
IN TE R IM R E P O R T Q 1 2 0 2 6 Highlights Q1 • Net sales broadly in line with last year at constant currency, despite a challenging and volatile market environment • Organic sales trend improved quarter-on-quarter, although it remained negative • Price-focused demand continued, with mix rather t
Slide 5: Market Outlook
IN TE R IM R E P O R T Q 1 2 0 2 6 Market Outlook • Market conditions remain subdued across the HoReCa sector. Consumer confidence severely hit from the Iran war. • Real revenues continue to decline, extending the multi-year downturn • Cost and inflation pressure remain elevated, particularly in lab
Slide 6: European Foodservice - Evolving Market Dynamics
IN TE R IM R E P O R T Q 1 2 0 2 6 European Foodservice - Evolving Market Dynamics • Consumers increasingly shift toward lower-priced foodservice options • More occasions are being replaced by at-home solutions rather than traded down within the category • Total market visits continue to decline as
Slide 7: Growth Drivers in Europe
IN TE R IM R E P O R T Q 1 2 0 2 6 Growth Drivers in Europe • Delivery offers • Digital order options • Healthy indulgence • Breakfast • Price-value & promos • Socializing experience Source: Circana, State of the European Foodservice Market, February 2026 7
Slide 8: Q1 2026 Key Financials
Q1 2026 Key Financials N E T S ALE S O P E R A T I N G I N C O ME OPE RAT ING M ARGIN SEK 1,764 m SEK 100 m 5.7% Net sales amounted to Operating income amounted to Operating margin was SEK 1,764 m (1,863) SEK 100 m (110) 5.7% (5.9) 8
Slide 9: Q1 Comments
Q1 Comments N E T S ALE S O P E R A T I N G I N C O ME • Sales remained nearly unchanged compared to last year (-0.3%) in fixed currencies. – Operating income declined during the quarter, mainly due to unfavorable mix effects resulting from higher demand for lower-priced products. • Organic growth s
Slide 10: BA Dining Solutions
BA Dining Solutions N E T S ALE S O P E R A T I N G I N C O ME OPE RAT ING M ARGIN SEK 1,050 m SEK 82 m 7.8% Net sales amounted to Operating income amounted to Operating margin was SEK 1,050 m (1,118) SEK 82 m (102) 7.8% (9.1) 10
Slide 11: Dining Solutions Q1 2026
Dining Solutions QUARTER NET SALES LTM Q1 2026 1,400 5,000 1,200 1,000 800 600 400 200 0 4,000 NET SALES, SEK M NET SALES LAST 12 MONTHS (LTM), SEK M – Sales decline of -1,3% in fixed currency, however sales volume QUARTER OPERATING INCOME LTM above last year driven by strong development in HoReCa 2
Slide 12: BA Food Packaging Solutions
BA Food Packaging Solutions N E T S ALE S O P E R A T I N G I N C O ME OPE RAT ING M ARGIN SEK 714 m SEK 18 m 2.5% Net Sales amounted to Operating Income Operating Margin was SEK 714 m (745) SEK 18 m (7) 2.5% (1.0) 12
Slide 13: Food Packaging Solutions Q1 2026
Food Packaging QUARTER NET SALES LTM Solutions Q1 2026 1,000 3,500 800 600 400 200 0 2,800 NET SALES, SEK M NET SALES LAST 12 MONTHS (LTM), SEK M - Sales growth in fixed currencies of 1,1% driven by good development within BioPak Group. Continued weak sales development in Europe. - Improved margins
Slide 14: Financials
Financials 14
Slide 15: Income Statement
Income Statement SEK m Q1 / 2026 Q1 / 2025 LTM / 2025-26 FY / 2025 Net sales 1,764 1,863 7,586 7,685 Gross profit 1) 421 433 1 870 1,882 Gross margin 23.8% 23.2% 24.6% 24.5% Selling expenses1) -193 -202 -792 -801 Administrative expenses1) -135 -111 -528 -504 R & D expenses -8 -6 -30 -28 Other operat
Slide 16: Business Area Financials
Business Area Financials SEK m Q1 / 2026 Q1 / 2025 LTM / 2025-26 FY / 2025 Dining Solutions Net sales 1,050 1,118 4,611 4,678 Operating income1) 82 102 453 473 Operating margin 7.8% 9.1% 9.8% 10.1% Food Packaging Solutions Net sales 714 745 2,975 3,007 Operating income1) 18 7 97 87 Operating margin
Slide 17: Operating Cash Flow
Operating Cash Flow SEK m Q1 / 2026 Q1 / 2025 LTM / 2025-26 FY / 2025 Operating EBITDA 1) 139 148 700 708 Capital expenditure -48 -25 -272 -247 Change in; Inventory -17 -125 149 40 Accounts receivable 30 30 -1 -2 Accounts payable -155 -54 -180 -79 Other operating working capital -47 -46 -8 26 Change
Slide 18: Financial Position
Financial Position SEK m March 2026 December 2025 March 2025 Goodwill 2,708 2,664 2,698 Tangible and intangible fixed assets 2,567 1,982 1,960 Net financial assets1) 138 105 91 Inventories 1,449 1,397 1,565 Accounts receivable 1,119 1,125 1,107 Accounts payable -610 -751 -786 Other operating assets
Slide 19: Group targets
Group targets Suppliers who have Share of circular input Sales growth Operating margin Dividend Climate target Lost time incidents signed the Code of materials Business Conduct TA RG ET >6 % >10% >50% 90% -57% <10 100% Currency-adjusted sales (base year 2025) Scope 1 & 2 target 2030 (full per 1,000
Slide 20: Summary
IN TE R IM R E P O R T Q 1 2 0 2 6 Summary Net sales were broadly in line with the previous year at constant currency in a challenging and volatile market environment The organic sales trend showed a sequential improvement, although overall development remained negative Profitability was mainly infl
Slide 21: DUNI | The Architects of Dining
D U N | The Architects of Dining