Storskogen Group Ab Class B · OMXSTO:STOR_B
Storskogen Group Ab Class B — Q2 2026 Earnings Presentation
26 slides from Storskogen Group Ab Class B's earnings presentation, Aug 11, 2026
Slide 1: Storskogen Q2 2026
Storskogen Q2 2026 August 2026 1
Slide 2: Today's presenters
Today’s presenters Christer Hansson Lena Glader CEO CFO 2
Slide 3: Storskogen in brief
Storskogen in brief Storskogen is an international business group with annual net sales of SEK 33bn and adj. EBITA of SEK 3.1bn, split across three business areas consisting of business units averaging SEK ~290m1 in sales Services Trade Industry 34% 29% 39% 43% 57% 66% 32% Johan Ekström (interim) Ås
Slide 4: Highlights
Highlights Key highlights NET SALES, Q2: Cash flow from operating activities, Q2 • Positive organic sales and EBITA SEK 8,861m SEK 465m growth in the quarter (8,4521) (SEK 527m1) • Organic growth (YTD): • Net sales: 4% • Adj. EBITA: -4% ADJ. EBITA, Q2: Adjusted cash conversion, LTM SEK 864m 74% • St
Slide 5: Cash flow remains strong
Cash flow remains strong Cash flow from operations, Quarterly (SEKm) Cash flow from operations, LTM (SEKm) 1,680 3,098 3,102 3,007 2,981 2,876 2,775 2,451 2,526 2,464 1,151 855 659 527 453 465 188 113 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1
Slide 6: Seasonal variations with solid LTM
Seasonal variations with solid LTM Sales and EBITA margin, Quarterly Sales and EBITA margin, LTM 5% change whereof 5% organic 2% whereof 4% organic 13.0 9,500 12.5 34,931 34,589 12.0 9,000 12.5 34,182 33,765 35,000 32,974 32,965 33,097 33,007 33,416 12.0 34,500 11.5 8,500 34,000 11.5 33,500 11.0 8,0
Slide 7: Improved trend in organic sales growth
Improved trend in organic sales growth Organic sales growth (QTD1) 6% 5% 4% 5% 4% 3% 2% 2% 2% 1% 0% 0% -1% -2% -4% -6% -6% -8% Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 1 Comparable sample based on portfolio companies owned as of January in the comparison year, i.e. the same sample
Slide 8: Margin trend across the group
Margin trend across the group Services Trade Industry 15 000 12% 15 000 12% 15 000 12% 14 000 14 000 14 000 13 000 13 000 13 000 10% 10% 10% 12 000 12 000 12 000 11 000 11 000 11 000 10 000 8% 10 000 8% 10 000 8% 9 000 9 000 9 000 8 000 8 000 8 000 6% 6% 6% 7 000 7 000 7 000 6 000 6 000 6 000 5 000
Slide 9: Services
Services Sales and EBITA growth in seasonally stronger quarter Key highlights NET SALES, Q2: ORGANIC NET SALES GROWTH, YTD: • Seasonally stronger quarter as SEK 2,587m 3% expected (9%1) • Weak demand for business units in Infrastructure Services exposed to ADJ. EBITA, Q2: ORGANIC EBITA GROWTH, YTD:
Slide 10: Trade
Trade Organic sales growth but headwinds in health and beauty sector Key highlights NET SALES, Q2: ORGANIC NET SALES GROWTH, YTD: • Seasonally stronger quarter as SEK 2,315m 2% expected (-1%1) • Headwinds in the health & beauty segment continue to impact parts ADJ. EBITA, Q2: ORGANIC EBITA GROWTH, Y
Slide 11: Industry
Industry Organic sales and EBITA growth and strong order book Key highlights NET SALES, Q2: ORGANIC NET SALES GROWTH, YTD: • Organic sales and EBITA growth SEK 3,967m 5% (6%1) • Sales growth across all verticals - margin improvement in Industrial Technologies and Automation ADJ. EBITA, Q2: ORGANIC E
Slide 12: Adding platforms within focus themes
Adding platforms within focus themes INVESTMENT THEMES COMPLETED ACQUISITIONS IN THE QUARTER Health and wellbeing Darlington Annual Sales: SEK ~99m Business Area (vertical): Industry (Automation) Automation Safi Energy and sustainability Annual Sales: SEK ~106m Business Area (vertical): Services (In
Slide 13: Increased focus on acquired growth
Increased focus on acquired growth Free cash flow after capex and leasing 100% 2024 2025 2026 - estimate 2027 - estimate M&A 1 Minority & earn-outs For illustrative purpose only - includes no issuance of new debt Dividends Debt reduction 1 M&A net effect 13
Slide 14: Financial update
Financial Sreleieite mh storskogen
Slide 15: Financial summary, adjusted for IAC
Financial summary, adjusted for IAC SEKm Q2 26 Q2 25 Chg., % LTM FY 24 Chg., % Net sales 8,861 8,452 5 33,416 34,182 -3 Raw material and supplies -4,884 -4,518 8 -18,207 -18,349 -3 Key takeaways Other external expenses -889 -927 -4 -3,703 -3,953 -4 Q2 sales grew organically Personnel expenses -2,034
Slide 16: Q2 bridges
Q2 bridges Sales and Adj EBITA driven by both organic and acquired growth; Adj EBITA also impacted by group operations one-off LY Sales, SEKm EBITA, SEKm Q2 25 includes a positive one- time effect from adjusted LTIP costs of ~22 MSEK 5% 2% 2% 0% 8,861 0% -2% 2% -3% 864 5% 3% 8,452 843 Net sales, Org
Slide 17: Y/Y margin development
Y/Y margin development Margin uplift in Industry more than offset by lower margins in Trade, Services and Group operations Adj EBITA margin Q2 25 includes a positive one- time effect from adjusted LTIP costs of ~22 MSEK 0,3 pp -0,1 pp 10,0% -0,2 pp -0,3 pp 9,7% Q2 25 Industry Trade Services Group op
Slide 18: Condensed cash flow
Condensed cash flow Chg., SEKm Q2 26 Q2 25 Chg., % LTM FY 24 % Key takeaways Profit before tax 514 364 41 1,680 493 222 Adjustment for non-cash items 467 578 -19 1,725 2,896 -38 Softer cash flow Y/Y driven by strong ending to quarter, Income tax paid -138 -155 -11 -459 -661 -41 mainly in Industry Ch
Slide 19: Operating cash flow and cash conversion
Operating cash flow and cash conversion Cash conversion (LTM) trending above target level Operating cash flow1 (LTM) 5 000 140% 4 500 120% 4 000 99% 96% 94% 100% 3 500 88% 82% 80% 79% 3 000 74% 74% 80% 2 500 60% 2 000 1 500 40% 1 000 20% 500 4 093 4 014 4 060 3 745 3 381 3 456 3 077 3 233 3 041 0 0%
Slide 20: Condensed balance sheet
Condensed balance sheet SEKm Jun 26 Jun 25 Chg., % Dec 25 Key takeaways Total non-current assets 29,086 29,021 Unch. 28,572 Total current assets 14,401 13,319 8 12,884 Shift in focus from interest- bearing debt to non- Total assets 43,487 42,340 3 41,455 interest-bearing debt Total equity 21,262 20,
Slide 21: Net debt and leverage
Net debt and leverage Net debt and leverage ratio at comfortable levels Leverage ratio 20 000 3 2,7 2,6 15 000 2,4 2,4 2,4 2-3x leverage 2,3 2,3 2,3 2,3 target range 10 000 2 5 000 11 171 10 917 9 693 9 887 10 186 10 192 9 513 9 530 9 896 0 1 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Int
Slide 22: Key takeaways
Key takeaways Organic sales and EBITA growth in seasonally stronger quarter Operational excellence remains key focus to drive continued organic profit growth Strong cash flows - increasing capacity for acquisitions Attractive pipeline within investment themes 22 22
Slide 23: Q&A
Q&A 23
Slide 24: Appendix
Appendix 24
Slide 25: Financial summary, reported
Financial summary, reported SEKm Q2 26 Q2 25 Chg., % LTM FY 24 Chg., % Net sales 8,861 8,452 5 33,416 34,182 -3 Raw material and supplies -4,884 -4,518 8 -18,207 -18,349 -3 Other external expenses -890 -927 -4 -3,708 -3,953 -4 Key takeaways Personnel expenses -2,041 -1,980 3 -7,765 -8,018 -4 Other i
Slide 26: Capital allocation
Capital allocation LTM, SEKm 2,464 596 41 539 1,371 381 377 593 20 Cash flow from Capex Net investments Leasing Free cash flow Acquisitions and Acquired and Paid contingent Residual operating in non-current after leasing divestments divested considerations cash flow activities assets minority shares