H+h International A/s · OMXCOP:HH
H+h International A/s — Q2 2026 Earnings Presentation
13 slides from H+h International A/s's earnings presentation, 2026
Slide 1: H+H International A/S H1 2026 Financial Results
H+H International A/S H1 2026 Financial Results Confidential / For Internal use only / Public
Slide 2: Forward-looking statements
Forward-looking statements This presentation contains forward-looking statements. Such statements are subject to risks and uncertainties, as various factors, many of which are beyond the control of H+H International A/S, may cause actual developments and results to differ materially from the expecta
Slide 3: Q2 2026 financial highlights
Q2 2026 financial highlights Selected financial figures Q2 key takeaways Figures in DKKm unless otherwise stated. Q2 2025 figures in brackets 1. Normalization from a weather-impacted Q1 driven by a particular strong market in Poland, Organic growth Gross margin(1) EBIT margin(1) taking EBIT bsi to a
Slide 4: Poland
Poland Market developments in Q2 2026 Market development Building Permits in '000 3m rolling y/y (%) ▪ Building permits continued to grow, and is 19%(2) up year-on-year, supporting visibility and 40 50% confirming a healthy pipeline of projects. 35 30 25% ▪ Market conditions are supported by a robus
Slide 5: UK
UK Market developments in Q2 2026 Market development Registrations in '000 3m rolling y/y (%) ▪ Activity higher than Q1, but not same recovery profile as seen in the other markets. 30 60% ▪ Private housing demand continued to be 25 40% constrained by affordability pressures, cautious 20 20% consumer
Slide 6: Central Western Europe
Central Western Europe Market developments in Q2 2026 Market development Germany Building Permits in '000 3m rolling y/y (%) ▪ Building permits in Germany has recovered from the cyclical lows of recent years and is 17% year- on-year, indicating improving market sentiment. 35 40% 30 ▪ However, constr
Slide 7: Update on strategic focus areas
Update on strategic focus areas HOME delivering improvements DE+ focus Operational excellence is key to our business success New profit center structure enables focus on local markets 131 135 − New profit center leaders driving 117 market penetration. − Topline improvement and margin stabilization.
Slide 8: Expected rebound vs. Q1 delivered and Q2 ahead of last year
Expected rebound vs. Q1 delivered and Q2 ahead of last year Volumes by quarter (Thousand m3) Revenue by quarter DKKm. Revenue growth (%) UK Poland CWE +4% +5% 791 795 738 752 763 719 673 611 247 227 594 236 560 183 161 225 236 263 209 182 258 255 219 217 262 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q
Slide 9: Gross margin in line with last year with higher revenue driving profitability
Gross margin in line with last year with higher revenue driving profitability Gross profit and margin development EBITDA per reportable segment (DKKm) (1) Gross Profit (DKKm) Gross Margin (%) UK Poland CWE 350 30 120 110 300 25 100 24% 35 90 28 250 22% 22% 22% 20 80 27 70 200 23 179 60 165 15 155 50
Slide 10: Operating cash flow supported by asset sale
Operating cash flow supported by asset sale Key takeaways Q2 2026 free cash flow development (DKKm) ▪ Cash-flow generation from (10) underlying business supported 1 31 by net-working capital (23) improvement drives operating 49 85 cash flow. (16) ▪ This is further supported by asset sale of DKK 49 m
Slide 11: Reiterating the outlook for 2026
Reiterating the outlook for 2026 Organic growth EBIT before special items (DKKm) -5% to 0% 50 - 100 Key assumptions for the financial outlook for 2026 ▪ Winter weather in Q1 has negatively affected EBIT before special items by DKK 70 million compared to last year. ▪ Expected benefits of DKK 40 milli
Slide 12: Key takeaways
Key takeaways 1. Normalization from a weather-impacted Q1 driven by a particular strong market in Poland, taking EBIT bsi to a breakeven for the first half of 2026. 2. Outlook for the UK market has become more cautious. Impact from new government’s housing agenda will be monitored closely. 3. The st
Slide 13: Q&A
Q&A H+H H1 2026 FINANCIAL RESULTS 13