Slide 1: Forged in Automotive, Built for Precision & Scale
INTERIM REPORT Q1, 2026 Forged in Automotive Built for Precision & Scale
Slide 2: Agenda
Agenda Axel Berntsson, President & CEO Noteworthy items in Q1 C-parts momentum Update on financial position Change regarding order intake reporting Anna Åkerblad, CFO Financial results Q1 Axel Berntsson, President & CEO Focus going forward
Slide 3: Noteworthy items Q1
Noteworthy items Q1 Strong structural cost improvement has created resilience Improved profitability YoY EBIT 77 (44) and a stable operating margin at 6.1% (3.1) Gross margin moved up to 20.1% (17.6) driven by improvements in our cost base U.S. footprint transition Distribution and C-parts
Slide 4: C-parts momentum
C-parts momentum Strengthening distribution & C-parts by increasing the share of value-adding services (kitting, inventory management and integrated supply solutions). China: continued market establishment within distribution to build scale and customer proximity Renewable energy: secured our
Slide 5: Update on financial position
Update on financial position (MSEK) Financial position remains solid, with lower net debt and strong liquidity headroom Operating cash flow in the quarter was affected by temporary working capital movements 1 383 1 013 71 1 151 261 Cash leasing 480 439 -21,2% Unused 22 Interest 752 903 Facilities Be
Slide 6: Change regarding order intake reporting
Change regarding order intake reporting Order intake will be discontinued as a reported metric going forward Order intake in automotive is largely linked to long-term production programs rather than near-term demand. In the current market environment, correlation between order intake and actual
Slide 7: Financial Results
Financial Results BULTEN
Slide 8: Net sales
Net sales 1 600 6 000 1 400 5 000 1 200 4 000 1 000 Net sales – a decrease of -12.4% Q1 vs the same period previous year 800 3 000 600 2 000 400 1 000 200 0 0 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Net sales, MSEK 12-month rolling Net sales, MSEK 8
Slide 9: Net sales per customer group R12M
Net sales per customer group R12M April 2025 – March 2026 OEM, heavy vehicles 9,7% Consumer Electronics, Medical Technology OEM, light vehicles & Other industries 58,0% Δ -3.5pp YoY Δ +3.6pp YoY Δ -10.3pp vs 2023 Δ +10.1pp vs 2023 17,5% Automotive suppliers 14,8% Since 2023, the share of sales from
Slide 10: EBIT level
EBIT level Quarter EBIT margin 6,2% 6,1% 6,2% 5,2% 4,6% Adjusted EBIT SEK 78 (89) million with an Q1 adjusted EBIT margin of 6.2% (6.2) 3,1% 3,0% 2,4% 1,5% 0,6% Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Reported Adjusted for non-recurring items 10
Slide 11: Key indicators
Key indicators THE GROUP, 12 MONTHS Metric Q1 2026 Q1 2025 Full year 2025 Return Indicators Return on capital employed, % 5.1 7.0 4.1 Adjusted return on capital employed, % 5.8 8.2 6.1 Return on capital employed, (excluding financial lease) % 5.5 7.7 4.3 Adjusted return on capital employed, (excludi
Slide 12: Focus going forward
Focus going forward Profitability: Protect and expand margins Cash Flow: Working capital reduction and disciplined Capex spend Business Mix: Accelerate growth in selected segments Footprint optimization: Secure a more competitive industrial footprint
Slide 13: Questions?
Questions? BULTEN