Swedencare Ab · OMXSTO:SECARE
Swedencare Ab — Q1 2026 Earnings Presentation
18 slides from Swedencare Ab's earnings presentation, Apr 23, 2026
Slide 1: Q1 Report
Q1 Report PRESENTATION WILL BEGIN SHORTLY
Slide 2: Interim Report Jan-Mar 2026
Interim Report JAN - MAR 2026 with Håkan Lagerberg, CEO Jenny Graflind, CFO
Slide 3: Q1 2026 Highlights
Q1 2026 Highlights Double digit growth, improved gross margin compared to Q4&2025 and increased profitability – as communicated Margins and sales still impacted by NaturVet Amazon takeover – improving month by month – target with normalized level in H2 2026. Other issues from Q4 mitigated Strong mom
Slide 4: Financial Highlights Q1 2026
Financial Highlights Q1 2026 Comments Net Revenue Organic Growth 700 14% • Q: Org +11%, -14% Fx, +4% acq. +1% 600 12% • 3rd Q in a row with DD growth 500 10% • Gross Margin 59,7% 400 8% • Strongest since 2020 +120% 300 6% • Stronger growth in Europe/brands 200 4% with higher margins 100 2% • Summit
Slide 5: Financial Highlights Q1 2026
Financial Highlights Q1 2026 Comments • Net Debt/EBITDA • Decrease of 0,1 since last Q Net Debt / EBITDA • Cash Op. cash flow / Cash conversion • Inventory buildup 03 • Larger tax payments +39% 140 120 • Reduced debt with 50 MSEK 02 100 • CapEx below 2% 02 80 -33% 2,1 2,0 2,9 2,7 2,9 2,8 01 60 40 01
Slide 6: Rolling 4 quarters
Rolling 4 quarters Rolling twelve months - net revenue and EBITDA 60 0 16 0 14 0 50 0 12 0 40 0 10 0 30 0 80 60 20 0 40 10 0 20 0 0 FY 2 021 FY 2 022 FY 2 023 FY 2 024 FY 2 025 R12 20 26 Q1 20 21 Q1 20 22 Q1 20 23 Q1 20 24 Q1 20 25 Q1 20 26 Net revenue EBITDA Operational EBITDA
Slide 7: Net sales North America 371.0 MSEK
Net sales North America 371.0 MSEK 57% -10% growth, organic 5% of total net revenue • NaturVet on Amazon • Transparency almost 50% of SKUs 400 • Sales increase month by month -10% 300 • New commercial leadership for NV • SQF(Safe Quality Food)-certification passed 200 • Requirement from a major Club
Slide 8: Net sales Europe 153.8 MSEK
Net sales Europe 153.8 MSEK 24% 38% growth, organic 21% of total net revenue • All companies in segment deliver organic 160 140 growth 120 +38% 100 • Dental & Amazon 80 60 • Italy strong organic growth 40 • Branded stronger than PL 20 0 Q4 Q1 Q2 Q3 Q4 Q1 • Trade show and product launches 2024 2025 2
Slide 9: Net sales Production 115.6 MSEK
Net sales Production 115.6 MSEK 19% 9% growth, organic 23% of total net revenue • Pharma – almost doubled compared to Q1 140 2025 organically 120 +9% 100 • Weak Derma-demand - increasing in Q2 80 and expect growth for full year 60 • Strong European contract manufacturing 40 20 • Improved and increas
Slide 10: Priorities 2026 and coming years
Priorities 2026 and coming years Continue our strong growth Enhance operational trajectory, focusing on efficiencies, particularly in present main markets and production and supply geographic expansion into chain optimization Asia and South America Strengthen our online Pursue new acquisitions platf
Slide 11: Europe segment: strong Q1 performance, building for H2
•Europe segment: strong Q1 performance, building for H2 • 21% organic growth in Q1 versus Q1 last year • Main growth drivers Q1: dental products and Online sales • Innovation and brand development are building the growth platform for H2
Slide 12: ProDen PlaqueOff® Crème for Cats: strong early response
ProDen PlaqueOff® Crème for Cats: strong early response • 108m cats in Europe with 26% household • Launched in Europe at the end of Q1 penetration.1 • A majority of older cats suffer from some form of • High palatability: 9 out 10 cats take it dental disease.2 • Expands our oral health offering for
Slide 13: NaturVet by Swedencare: full-scale launch in Europe
NaturVet by Swedencare: full-scale launch in Europe • Soft Chew format is the dominant consumer-preferred format in the U.S.¹ YoY Revenue NaturVet by Swedencare • We see UK is adapting to the format with good growth momentum +57% • Positive development in limited online launch • Full-scale European
Slide 14: Fast-track innovation
Fast-track innovation: a stronger growth platform for H2 and beyond • Utilize strength across the full value chain • Faster path from idea to launched product • Pilot delivered positive results in single market 8-12 weeks from idea to product in market launch • Roll out to more markets • Retail cust
Slide 15: Summary: Strong building blocks for continued European growth
Summary: Strong building blocks for continued European growth in 2026 and beyond Introduction of existing brands and ranges in new European markets New product launches in existing brands and re-launches Product innovation Online growth and channel excellence Underlying growth of pet care market
Slide 16: Swedencare's financial targets
Swedencare’s financial targets Annual double digit organic growth Establish an Op. EBITDA margin above 26% midterm (approx. 23% Op. EBIT) • Market growth 7% on average yearly • Increased Gross Margin • Significant growth drivers • Scalability in OpEx • Amazon, D2C & Other Online • Synergies, efficie
Slide 17: Swedencare's Capital Markets Day
Swedencare’s Capital Markets Day When: June 2nd, 2026, 2:00pm to 5:00pm CEST Where: Norrmalmstorg 1 in Stockholm, Sweden Selected speakers will present Swedencare’s business, strategy, and financial targets. A few of the speakers that will attend: Scan and register Thomas Eklund Håkan Lagerberg Jenn
Slide 18: Thank you for participating!
Thank you for participating! Q&A Coming up: Pre Q2 2026 update: June 17th @3:00pm CEST Q2 2026 Interim report: July 22nd @7:30am CEST