Alleima Ab · OMXSTO:ALLEI
Alleima Ab — Q1 2026 Earnings Presentation
23 slides from Alleima Ab's earnings presentation, Apr 27, 2026
Slide 1: First quarter 2026 Interim report
Alleima 1 April 27, 2026 Interim report First quarter 2026 Göran Björkman, President & CEO Johan Eriksson, CFO
Slide 2: Safety first
Alleima 2 Safety first At Alleima our objective is zero harm to our people, Protective equipment Emergency number Psychological safety the environment we work in, our customers and our suppliers. First aid kit Emergency exit Alarm Assembly point Health & well-being Speak Up
Slide 3: Highlights Q1 2026
Alleima 3 Highlights Q1 2026 Increased market uncertainty Revenues Organic revenue (SEK M) growth ― Geopolitical instability ― Continued weak short - cycle business ― Key segments contributing positively 4,576 - 5% Impact on earnings ― Weak European markets Adj. EBIT Adj. EBIT margin ― FX headwind (
Slide 4: Industry-leading sustainability
Alleima 4 Industry - leading sustainability Solid sustainability performance during the quarter Health and safety Recycled steel CO ₂ emissions Sustainable product portfolio R12 total recordable injury R12 share of recycled steel in the steel R12 CO ₂ emissions amounted to 94 kton The sustainable pr
Slide 5: Market development
Alleima 5 Market development ― Increased uncertainty ― Weak sentiment in Europe and North America, Asia more resilient ― Continued momentum in key segments Perceived year on year underlying market demand trend The large arrow shows year on year underlying demand trend, the small shows the estimation
Slide 6: Limited impact of the ongoing crisis in the Middle East so far
Alleima 6 Limited impact of the ongoing crisis in the Middle East so far - Increases market uncertainty, causing volatility in energy prices, shipping costs, and concerns about rising inflation - Part of Alleima’s Oil and Gas segment, the OCTG business, has both direct and indirect exposure to the M
Slide 7: Order intake and revenues
Alleima 7 Order intake and revenues Order intake R12 Order intake R12 Revenues and book - to- bill ― Organic order intake growth (SEK M) SEK M SEK M % of -12% for rolling 12 months 16,266 25 000 6 000 120 ― Organic revenue growth of - 5% 5 000 100 20 000 4 000 80 ― R12 book - to- bill 90% Revenues 1
Slide 8: Earnings
Alleima 8 Earnings Adjusted EBIT Adjusted EBIT at SEK 386 million SEK M % 700 12 ― Margin of 8.4% ― FX headwind 600 10 ― Absorption effects due to weak short cycled market 500 8 Free operating cash flow of SEK - 65 million 400 6 ― Changes in working capital 300 ― Cash flow normally lower in H1 4 200
Slide 9: Tube
Alleima 9 SEK M Q1 2026 Q1 2025 FY 2025 Tube Order intake, R12 10,626 14,095 12,138 Organic growth, R12 ,% - 19 -3 -7 Revenues 3,222 3,750 13,063 Organic growth, % -9 12 -2 Continued weak market sentiment Adj. EBIT 285 416 1,159 Margin, % 8.9 10.7 8.9 ― R12 organic order intake growth of -19% ― Orga
Slide 10: Kanthal
Alleima 10 SEK M Q1 2026 Q1 2025 FY 2025 Kanthal Order intake, R12 4,260 4,108 4,177 Organic growth, R12 ,% 14 4 9 Revenues 982 1,017 3,996 Organic growth, % 8 -7 1 Positive topline development Adj. EBIT 167 169 656 Margin, % 17.0 16.6 16.4 ― R12 organic order intake growth of 14% ― Organic revenue
Slide 11: Strip
Alleima 11 SEK M Q1 2026 Q1 2025 FY 2025 Strip Order intake, R12 1,380 1,759 1,426 Organic growth, R12 ,% - 16 34 - 11 Revenues 372 383 1,571 Organic growth, % 5 19 13 Solid underlying development Adj. EBIT 22 27 61 Margin, % 5.9 6.9 3.9 ― R12 organic order intake growth of -16% ― Organic revenue gr
Slide 12: Financial summary
Alleima 12 Financial summary SEK M Q1 2026 Q1 2025 FY 2025 Order intake, R12 16,266 19,962 17,741 SEK M Order intake, R12 Revenues Revenues 4,576 5,150 18,630 Q1 2025 19,962 5,150 Adj. EBIT 386 540 1,555 Organic, % - 12 -5 Adj. EBIT margin, % 8.4 10.5 8.3 Structure, % 0 0 Metal price effects 8 -27 -
Slide 13: Leverage: Bridge analysis, adjusted EBIT
Alleima 13 Leverage: -28% Bridge analysis, adjusted EBIT ― Negative organic development driven by lower revenues and under absorption effects 540 ― Positive effect from targeted -67 measures -93 ― Still heavily impacted by FX 386 6 Adj EBIT Organic Currency Structure Adj EBIT 1 2 3 4 5 Q1 2025 Q1 20
Slide 14: Capital efficiency
Alleima 14 Capital efficiency ― NWC amounted to SEK 6,760 million (6,950) ― Capital employed excl. cash amounted to SEK 16,224 million (16,343) ― Sequential NWC increase due to seasonality ― ROCE excl. cash of 5.0% (11.9) in the quarter ― NWC in relation to revenues at 35.5% (33.4) Net working capit
Slide 15: Cash flow
Alleima 15 Cash flow ― Free operating cash flow of SEK - 65 million (46) ― Driven by lower EBITDA and changes in working capital Free operating cash flow Free operating cash flow quarterly SEK M 600 SEK M Q1 2026 Q1 2025 FY 2025 500 400 EBITDA 628 745 1,950 300 Non - cash items - 42 - 71 301 200 Cha
Slide 16: Strong financial position
Alleima 16 Strong financial position Capital structure Net debt and Financial net debt SEK M Net Pension Leasing liabilities Other cash less Net debt 2 500 liabilities (IFRS 16) liabilities 2 000 SEK M SEK M SEK M SEK M 1 734 1 709 1 716 699 421 1,716 - 596 (839 ) (481) (1,734) (- 414) 1 500 1 000 5
Slide 17: Guidance ahead of the quarter and outcome
Alleima 17 Guidance ahead of the quarter and outcome Outcome Q1 2026 Guidance ahead of Q1 2026 Capex (Cash) SEK 160 million Approximately SEK 1,100 million YTD 2026 in FY 2026 Currency transaction and SEK -173 million in Q1 SEK -240 million in Q1 translation effect Total currency effect SEK - 93 mil
Slide 18: Guidance Q2 2026 and FY 2026
Alleima 18 Guidance Q2 2026 and FY 2026 Capex (cash) ― Estimated to approximately SEK 1,100 million for FY 2026 Currency effects (transaction and translation) ― Estimated negative effect of SEK - 60 million on operating profit (EBIT) for Q2 2026, compared to the corresponding period last year Metal
Slide 19: Outlook for the second quarter 2026
Alleima 19 Outlook for the second quarter 2026 — Market instability to continue — Uncertainties related to the development in the Middle East — The order book remains strong in several segments — Product mix is expected to be similar to Q1 — Cash flow is usually lower in the first half of the year
Slide 20: Summary
Alleima 20 Summary ―Increased uncertainty in the market ―Underlying resilience ―Continued FX headwind ―Staying with the long - term strategy
Slide 21: Q&A
Alleima 21 Q&A
Slide 22: Thank you
Alleima 22 Thank you alleima.com
Slide 23: Disclaimer
Alleima 23 Disclaimer This presentation contains “forward - looking” statements that reflect the company’s current expectations. Although the company believes that the expectations reflected in such forward - looking statements are reasonable, no assurance can be given that such expectations prove t