B3 Consulting Group Ab · OMXSTO:B3
B3 Consulting Group Ab — Q1 2026 Earnings Presentation
22 slides from B3 Consulting Group Ab's earnings presentation, 2026
Slide 1: B3 Consulting Group Q1 presentation 2026
B3 Consulting Group Q1 presentation 2026
Slide 2: Presenters
Daniel Juhlin André Karlsson CEO CFO Katarina Lundqvist Peter Svenonius Head of Communications & IR CEO B3 Business Transformation
Slide 3: The acquisition of Webstep
The acquisition of Webstep Unsuccessful turn around of unprofitable business • 70% revenue lost • +65% of FTEs incl. key personnel have left, both voluntary and involuntary • Webstep accounts for 5%-units of the 5,8% decline in Q1 2026 • Ack. EBIT since aquisition -15 MSEK* + transactions costs • Mo
Slide 4: M&A – follow up
M&A – follow up Webstep a failed acquisition, solid profitability in Poland, Habberstad is an opportunity Webstep B3 Consulting Poland • Purchase price 36 MSEK and ack EBIT -15 MSEK • Temporary volume setback last quarters due to 2 lost clients in Nordic now history • 70% of revenues and +65% of FTE
Slide 5: Highlights Q1 2026
Highlights Q1 2026 -5.8% growth and 3.2% EBIT | The Webstep acquisition is negatively affecting results in Sweden. • Revenue 304.9 (323.6) MSEK, -5.8% growth, Webstep accounts for 5%-units of the decline. • EBIT 9.8 (15.9) MSEK, EBIT margin 3.2 (4.9)%, CEO transition with overlap impact Q1. • Profit
Slide 6: Financial overview Q1 2026 – Group
Financial overview Q1 2026 – Group Headcount reduction continues to constrain growth Q1 Jan-Dec Extract of B3's key figures 2026 2025 Δ% 2025 Net Sales, SEK million 304,9 323,6 -5,8% 1 209,1 EBITA, SEK million 11,3 17,2 -34,0% 53,9 EBITA margin, % 3,7% 5,3% 4,5% Operating profit (EBIT), SEK million
Slide 7: Financial overview Q1 2026 – B3 Poland
Financial overview Q1 2026 – B3 Poland Stable utilization rates, but a lower number of consultants results in negative growth Q1 Jan-Dec Extract of B3 Poland key figures 2026 2025 Δ% 2025 Net Sales, SEK million 36,5 43,0 -15,0% 156,0 EBITA, SEK million 3,8 6,0 -35,7% 16,7 EBITA margin, % 10,5% 13,9%
Slide 8: Financial overview Q1 2026 – B3 Norway
Financial overview Q1 2026 – B3 Norway Continued growth, but negative results driven by low utilization and elevated cost levels Q1 Jan-Dec Extract of B3 Norway key figures 2026 2025 Δ% 2025 Net Sales, SEK million 28,0 20,2 38,6% 85,8 EBITA, SEK million -1,1 0,8 -237,5% 3,2 EBITA margin, % -3,9% 4,0
Slide 9: Financial overview Q1 2026 – B3 Sweden
Financial overview Q1 2026 – B3 Sweden Remaining Webstep revenue (~30%) contributes with -2 MSEK in EBIT Q1 Jan-Dec Extract of B3 Sweden key figures 2026 2025 Δ% 2025 Net Sales, SEK million 240,4 273,9 -12,2% 990,3 EBITA, SEK million 10,5 11,3 -7,1% 38,9 EBITA margin, % 4,4% 4,1% 3,9% Operating prof
Slide 10: Revenue breakdown
Revenue breakdown Revenue decline driven by fewer FTEs – but negative trend stabilized in Q1 -5,8% • Significant decline compared to 0 0 2025, but organic net recruitment 2 1 1 8 stabilized in Q1. 22 • Q1 year-over-year revenue decline 324 was partly mitigated by international 34 acquisitions. • Hab
Slide 11: Utilization rate
Utilization rate Low utilization and cautious market conditions • Low utilization in Norway is primarily 87,8 -0,7 proforma effect 86,7 85,5 84,2 84,7 85,3 82,7 83,1 • Cautious customers is holding 81,2 81,7 utilization rates down in Sweden 80,3 78,4 79,1 • Performance at a stable level in Poland 87
Slide 12: New assignments in Q1
New assignments in Q1 While some companies struggle other strengthen their position through new and expanded engagements • A new team agreement with the Swedish Public Employment Service, supporting mission-critical systems • Two new framework agreements with leading telecom operators. • Extended fr
Slide 13: Agentic AI: Growth areas driven by AI
Agentic AI The market for AI services is starting to gain momentum 76% $11 $91 MDR Sweden behind of CIOs are investing in agentic AI 2026 AI consulting market 2026–2035, 26% CAGR creating a significant opportunity for (Radar / Info-Tech) - Accordint to Future Market Insights acceleration Growth area
Slide 14: 14
14
Slide 15: Agentic AI
Agentic AI AI gaining traction when organisations seek efficiency and security B3’s offering in 3 steps Proven delivery AI agents in production across several clients and use case Expertise across the entire value chain: Scope & build, Scale, and Governance Leading by example Driving internal effici
Slide 16: Summary and focus going forward
Summary and focus going forward Weak quarter -5.8% growth and 3.2% EBIT | Continued focus on cost control and selective recruitment • Continued market uncertainty, although excluding Webstep the decline is limited to -0,8%. • We continue to focus on cost control and selective recruiting where we see
Slide 17: Q&A
Q&A
Slide 18: APPENDIX
APPENDIX
Slide 19: Revenue and profit
19 Q1 290.5 985 Q2 289.5 2022 Q3 235.8 Q4 332.3 Q1 324.6 1 182 Q2 299.3 2023 Q3 223.3 Q4 293.6 281.3 1 098 Q1 Q2 266.4 2024 Q3 245.4 Q4 336.2 Q1 323.6 1,172 Q2 315.6 2025 254.9 Revenue MSEK per quarter and R12 Q3 Q4 314.9 Revenue and profit Q1 304 .9 2026 1,190 Development over the past five years 9
Slide 20: Distribution across different industries
Distribution across different industries B3 operates in several interesting industries driven by digitalization Revenue share per industry Jan-Mar 2026 (Jan-Mar 2025) Banking, finance, insurance 19% (18%) Industry 16% (15%) Government agencies, municipalities 13% (13%) Care 11% (11%) IT, media, ente
Slide 21: Share per segment
Share per segment B3 Norway increased its share of total revenue but reported a negative Q1 result due to ongoing investments Revenue, share per business area EBIT, share per business area Jan-Mar 2025 (Jan-Mar 2024) Jan-Mar 2026 (Jan-Mar 2025) 2026 Q1 2025 Q1 2026 Q1 2025 Q1 84.7% 78.8% 79.2% 64.0%
Slide 22: ni
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