Vestum Ab · OMXSTO:VESTUM
Vestum Ab — Q1 2026 Earnings Presentation
10 slides from Vestum Ab's earnings presentation, Apr 28, 2026
Slide 1: Q1 2026 Interim report presentation
Q1 2026 Interim report presentation January - March 2026 Vestum AB (publ)
Slide 2: Highlights Q1 2026
Highlights Q1 2026 • Second quarter in a row with growth in adjusted EBITA, cash flows and expanding adjusted EBITA margin • Two add - acquisitions completed during the quarter • Leverage, as measured by reported EBITDA, decreased to 3.2x driven by solid cash flows 826 96 11.7% - 2% 79 3.2x Net sale
Slide 3: Flow Technology segment
Flow Technology segment Flow Technology Market leading product technology specialists in improving water infrastructure • Strong demand with double digit organic EBITA growth in both the UK and Nordics 341 354 347 317 • Margin expansion driven by 287 288 289 267 256 258 product mix and acquisitions
Slide 4: Niche Products segment
Niche Products segment Niche Products Leading product companies in selected technology niches • Divested one low margin company in January 2026 resulting in lower sales in 219 209 198 the quarter compared to 191 190 187 170 181 170 177 last year 165 160 147 • Profitability boosted due to 16,3% 15,8%
Slide 5: Solutions segment
Solutions segment Solutions Specialised solutions for maintaining, developing and streamlining properties and • Lower sales in absolute terms transport networks driven by divestitures in Q4 754 2025 and Q1 2026 684 684 • Decrease in profitability driven 654 638 589 568 569 by divestitures, cold and
Slide 6: Net sales and adjusted EBITA per quarter
Net sales and adjusted EBITA per quarter Net sales Adjusted EBITA Adjusted EBITA margin SEKm SEKm LTM LTM LTM 3,702 401 10.8% 1 153 120 1 083 11,8%11,6%11,8% 11,8% 11,7% 1 019 1 012 111 11,0% 11,0% 10,8% 10,8% 991 975 102 102 105 10,4% 10,3% 10,8% 10,3% 10,1% 10,1% 900 889 98 96 826 8,8% 8,7% 8,8% 8
Slide 7: Net sales growth in the quarter
Net sales growth in the quarter SEKm 900 • Net sales in the quarter - 39 826 decreased by 8% vs same - 20 - 15 quarter last year driven primarily by the divestments in the beginning of Q1, which to some extent was offset by the acquisitions of Nortech and DFS • Organic growth was negative 2%, one pe
Slide 8: LTM free cash flow bridge
LTM free cash flow bridge • LTM cash flow from SEKm operating activities, before 11 NWC, was SEK 59m higher 362 than previous quarter • Net working capital release in Q1 in line with - 86 expectations • LTM capex spending increased from SEK 83m last 170 quarter to SEK 86m, - 117 reflecting investmen
Slide 9: Net debt and leverage
Net debt and leverage 3,5x 3,4x 5 3,2x Financial net debt, SEK Bn 2,9x • Reported leverage at 3,0x 2,8x 2,8x 2,8x Financial net debt / EBITDA R12 months (Leverage) 2,7x 2,7x 2,7x 4 period end increased to 2,5x 2,5x 2,5x 3.2x, in line with 2,2x expectations 2,1x 3 2,0x 2,5 2,6 2,4 • Earn - out debt a
Slide 10: Summary
Summary • Growth in adjusted EBITA and cash flows with strong uptick in margin • Mixed performance between the segments with organic growth in both Flow Technology and Niche Products, while Solutions struggled • Solid cash flows in the quarter leading to reduced leverage even as two acquisitions wer