B3 Consulting Group Ab · OMXSTO:B3
B3 Consulting Group Ab — Q2 2026 Earnings Presentation
22 slides from B3 Consulting Group Ab's earnings presentation, 2026
Slide 1: B3 Consulting Group Q2 presentation 2026
Slide 2: Presenters
Daniel Juhlin André Karlsson CEO CFO Katarina Lundqvist Christian Lauritzen Head of Communications & IR Chief AI Enabler | CEO B3 Indes
Slide 3: Highlights Q2 2026
Highlights Q2 2026 -3.4% growth and 4.0% EBIT | Utilization rate up 1.7pp in Sweden • Revenue 304.9 MSEK, -3.4% growth • EBIT 12.1 MSEK, EBIT margin 4.0% • Profit after tax 1.9 MSEK, Earnings per share after dilution -0.07 SEK • Increasing demand for AI services, while advancing our AI offering thro
Slide 4: Agreement to divest B3's stake in Habberstad AS
Agreement to divest B3’s stake in Habberstad AS Habberstad AS returns to previous ownership while collaboration continues • B3 has signed an agreement to divest B3’s 51% stake in Habberstad to HAS Gruppen AS. • Purchase price of approximately 15.9 MNOK, corresponding to B3’s original acquisition cos
Slide 5: Financial overview Q2 2026 – Group
Financial overview Q2 2026 – Group EBIT +1,8 MSEK YoY despite -3,4% in sales, H1 still reflects a weak start Q2 Jan-Jun Jan-Dec Extract of B3's key figures 2026 2025 Δ% 2026 2025 Δ% 2025 Net Sales, SEK million 304,9 315,6 -3,4% 609,8 639,3 -4,6% 1 209,1 EBITA, SEK million 13,7 11,6 18,3% 24,9 28,9 -
Slide 6: Financial overview Q2 2026 – B3 Sweden
Financial overview Q2 2026 – B3 Sweden Negative growth slowing, EBIT improves slightly Q2 Jan-Jun Jan-Dec Extract of B3 Sweden key figures 2026 2025 Δ% 2026 2025 Δ% 2025 Net Sales, SEK million 238,7 258,0 -7,5% 479,1 531,9 -9,9% 990,3 EBITA, SEK million 8,0 6,7 20,0% 18,5 17,0 8,9% 38,9 EBITA margin
Slide 7: Financial overview Q2 2026 – B3 Poland
Financial overview Q2 2026 – B3 Poland After several soft volume quarters Poland is closing the gap vs 2025 Q2 Jan-Jun Jan-Dec Extract of B3 Poland key figures 2026 2025 Δ% 2026 2025 Δ% 2025 Net Sales, SEK million 37,6 38,3 -1,8% 74,1 81,3 -8,8% 156,0 EBITA, SEK million 4,1 4,2 -2,9% 7,9 9,5 -16,8%
Slide 8: Financial overview Q2 2026 – B3 Norway
Financial overview Q2 2026 – B3 Norway Strong growth, while the underlying business remains weak Q2 Jan-Jun Jan-Dec Extract of B3 Norway key figures 2026 2025 Δ% 2026 2025 Δ% 2025 Net Sales, SEK million 28,5 21,1 35,0% 56,5 41,3 36,8% 85,8 EBITA, SEK million 3,4 5,1 -33,2% 2,3 6,0 -61,5% 3,2 EBITA m
Slide 9: Revenue breakdown
Revenue breakdown KPIs move in the right direction but does not fully compensate for lower FTEs -3,4% 1 4 2 3 • With many subsidiaries at full 4 capacity we will increase focus on 5 recruitment even more going forward 316 25 • Habberstad in NO included in the Group as of Mar-25 305 Net Sales Utiliza
Slide 10: Utilization rate
Utilization rate Improved utilization in Sweden during Q2 and slight increase in demand 1,7 • Improvement in SE but still mixed 87,8 86,7 85,5 86,1 performance across subsidiaries 84,2 84,7 85,3 82,7 83,1 81,7 • Performance at a stable high level in 80,3 81,2 78,4 79,1 Poland 87,8% 86,7% 80,3% 81,2%
Slide 11: New assignments in Q2
New assignments in Q2 New framework agreements and expanded assignments • Contributed to Sweden's largest Dynamics 365 program, delivering a new CRM, customer dialogue and data platform. The engagement has been extended through year-end with several roles. • New framework agreement with the Swedish
Slide 12: YYYY-MM-DD
12 YYYY-MM-DD
Slide 13: AI at B3: Background & Current Status
AI at B3: Background & Current Status Building on years of AI expertise to drive the next wave of growth Extensive AI experience with multiple AI solutions in production • Machine Learning expertise since 2019 • GenAI since 2021 Strong demand for AI strategy, advisory and data services We practice w
Slide 14: We expect AI to generate more business opportunities
We expect AI to generate more business opportunities B3 has its roots in Digital Transformation – providing a strong foundation for the AI transformation Specialized companies with complementary expertise • Data platforms • AI application development • Agent platforms • Cybersecurity • Compliance •
Slide 15: Summary and focus going forward
Summary and focus going forward EBIT 1,8 MSEK YoY despite -3,4% in sales | Utilization rate up 1.7pp in Sweden • Volume decline slowing down • Market conditions somewhat brighter with strongest utilization since Q2 2023, 83.9% Sweden – 86.1% B3 total • AI is driving increased demand for consulting s
Slide 16: Q&A
Q&A
Slide 17: APPENDIX
APPENDIX
Slide 18: Bond refinancing completed
Bond refinancing completed New bond extends our maturity profile and strengthens financial flexibility. Approx 6-7M one-off in Q3 • Refinancing completed; new senior secured bond of SEK 2024/2027 bond vs. New bond 250M successfully placed, outstanding 2024/2027 bonds (SEK Metric 2024/2027 bond New b
Slide 19: Revenue and profit
19 Q2 289.5 1,041 Q3 235.8 2022 Q4 332.3 Q1 324.6 Q2 299.3 1 192 2023 Q3 223.3 Q4 293.6 Q1 281.3 Q2 266.4 1 065 2024 Q3 245.4 Q4 336.2 Q1 323.6 Q2 315.6 1,221 2025 Q3 254.9 Q4 314.9 Revenue MSEK per quarter and R12 Q1 304 .9 Revenue and profit Development over the past five years 2026 Q2 304 .9 1,18
Slide 20: Distribution across different industries
Distribution across different industries B3 operates in several interesting industries driven by digitalization Revenue share per industry Apr-Jun 2026 (Apr-Jun 2025) Banking, finance, insurance 19% (18%) Industry 18% (17%) Government agencies, municipalities 17% (17%) Care 6% (11%) IT, media, enter
Slide 21: Share per segment
Share per segment Sweden expands its profit share, while Poland continues to deliver profitability well above its size Revenue, share per business area EBIT, share per business area 2026 Q2 2025 Q2 2026 Q2 2025 Q2 78.3% 81.1% 51.3% 45.6% 31.9% 26.6% 22.5% 22.1% 12.3% 12.1% 9.3% 6.8% B 3 S WE DE N B
Slide 22: ni
ni