Terranor Group Ab · OMXSTO:TERNOR
Terranor Group Ab — Q2 2026 Earnings Presentation
12 slides from Terranor Group Ab's earnings presentation, August 2026
Slide 1: Investor Presentation Q2 2026
Investor Presentation Q2 2026 August 2026 CONFIDENTIAL AND PROPRIETARY Any use of this material without specific permission of Terranor is strictly prohibited
Slide 2: Today’s presenters
Today’s presenters The reputable Group Management Team Michael Berglin Inka Kontturi Group CEO Group CFO Terranor Group 2
Slide 3: The quarter at a glance
The quarter at a glance Continued strong growth and improved profitability • Strong momentum in Q2 with revenue growth of 23% (12) driven by Share of revenue FY2025 ramp-up of new contracts and significantly higher activity • Improved profitability, with an adjusted EBITA margin of 2.6% (2.0), Custo
Slide 4: Market outlook
Market outlook Large, stable Nordic market with high entry barriers • Well-established in a market with high entry barriers in Broad political initiatives expected to drive growth: terms of know-how and human capital ✓ National plan for transport infrastructure • The market is stable and generally s
Slide 5: Operational seasonality directly linked to the climate cycle
Operational seasonality directly linked to the climate cycle One maintenance year usually span five quarters, starting in Q4 Winter Season Q4 Q1 Q2 Q3 Q4 Winter Season • Most contracts starts in Q4 • Finalize extra work for the maintenance year started • Q1 primarily consists of base during prior ma
Slide 6: Solid growth
Solid growth Diligent tender strategy contributed to a strong order intake and significant revenue growth • Revenue of 1 041 MSEK in Q2 (+23%) exceeding medium-term growth target (>8%) • Growth driven by ramp-up of new contracts and Revenue, MSEK significantly higher activity across the existing +23
Slide 7: Stable underlying earnings
Stable underlying earnings Profitability in line with the seasonal pattern of the business • Adjusted EBITA increased 61% to 27.2 MSEK (16.9), with an adjusted EBITA margin of 2.6% (2.0) Adj. EBITA, MSEK Adj. EBITA, % • Improvement reflects higher EBITA contributions in +0.6 p.p. Sweden and Denmark,
Slide 8: Cash Generation
Cash Generation Continued focus on disciplined cash management and a low capital intensity profile • Adjusted operating cash flow increased to 20.0 MSEK (4.6), supported by stronger underlying Adjusted Operating Cash Flow, SEK profitability • Cash flow from operating activities was -23.7 MSEK 250 00
Slide 9: Terranor’s segments
Terranor’s segments Sweden and Denmark performing above growth targets with solid profitability Sweden Finland Denmark Strong tender momentum continued, Strategic tender activity in Finland, with Strong development driven by the ramp- with a record-high backlog providing SEK 419 million in new contr
Slide 10: Financial targets
Financial targets On track to meet ambitious growth and profitability targets Category Outcome LTM Q2 2026 Outcome FY 2025 Medium-term financial targets 22% 14% >8% GROWTH Achieve an average annual revenue growth of at least 8% in the medium Revenue growth Revenue growth term PROFITABILITY 2.9% 2.7%
Slide 11: Why invest in Terranor
Why invest in Terranor Key investment highlights A highly specialized, Nordic- Mid-term targets: leading O&M business built for Resilient and growing market growth >8% one purpose: Keep the roads with plannable revenues and profitability >5% open profit margins leverage <2.5x dividend ≥50% Strongest
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