Installatorgruppen A/s · OMXCOP:IG
Installatorgruppen A/s — InstallatørGruppen — H1 2026 Earnings Presentation
17 slides from Installatorgruppen A/s's earnings presentation, Aug 26, 2026
Slide 1: Interim Financial Report H1 2026
Interim Financial 26 August 2026 Report H1 2026
Slide 2: Agenda
TODAY'S PRESENTATION Agenda PRESENTERS 01 Highlights Niels Eldrup Meidahl 02 Growth Group CEO 03 Acquisitions Mathias Ringsted Grüner 04 Financials Group CFO 05 Outlook 06 Q&A 26 AUGUST 2026 2
Slide 3: Revenue up 29.5% and adjusted EBITA up 34.6% in H1 2026
HIGHLIGHTS H1 2026 Revenue up 29.5% and adjusted EBITA up 34.6% in H1 2026 Listing Revenue Denmark Switzerland Order book Admitted to trading on Up 29.5%, driven by Revenue up 15.9%, with a Revenue up more than At a record DKK 4.3 billion, up Nasdaq Copenhagen on 11 acquisitions, the Swiss build- ma
Slide 4: H1 2026 delivered organic growth of 2.2%
ORGANIC GROWTH H1 2026 delivered organic growth of 2.2% ORGANIC GROWTH, PER CENT Growth across the portfolio 18.2% Revenue up 29.5% and adjusted EBITA up 34.6% Solid underlying progress across the portfolio and in every discipline Organic growth of 2.2% A cold winter postponed project start-ups Meas
Slide 5: Record order book of DKK 4.3 billion, up 72% year on year
ORDER BOOK Record order book of DKK 4.3 billion, up 72% year on year ORDER BOOK, DKK BILLION DKK 4.3 billion The highest level recorded +72% Up 19% since the turn of the year and up 72% year on year Up 9.8% like for like, excluding the orders of the companies acquired since the 4.3 turn of the year
Slide 6: Eight acquisitions completed in H1 2026, and a ninth in July
ACQUISITIONS IN 2026 Eight acquisitions completed in H1 2026, and a ninth in July Six in Denmark and two in Switzerland, weighted towards electrical work. Three were add-ons acquired by portfolio companies already owned, which is why eight transactions took the Group from 42 to 47 companies. E. Lytz
Slide 7: Margin up in Denmark, and Switzerland profitable at 5.8%
SEGMENT PERFORMANCE Margin up in Denmark, and Switzerland profitable at 5.8% REVENUE, DKK MILLION EBITA MARGIN Denmark Switzerland 42 companies 5 companies 9.1% 9.3% 5.8% -12.1% 1,639 1,900 322 77 H1 2025 H1 2026 H1 2025 H1 2026 Revenue up 15.9% and the margin up 0.2ppt., driven by operational disci
Slide 8: Financials
Financials Mathias Ringsted Grüner, Group CFO 26 AUGUST 2026 8
Slide 9: Revenue up 29.5% in H1 and adjusted EBITA margin up 0.3ppt. to 9.3%
REVENUE AND MARGIN Revenue up 29.5% in H1 and adjusted EBITA margin up 0.3ppt. to 9.3% REVENUE, DKK M ADJ. EBITA MARGIN Revenue 6.6% 11.0% 8.7% 9.9% 9.0% 9.3% Up 29.5% in H1 2026 and 25.2% in Q2 2026 Driven by the 2025 and 2026 acquisitions and the Swiss build-out 2,222 In line with expectations for
Slide 10: Adjusted cash conversion of 71.3% at the seasonal low point of the year
CASH CONVERSION Adjusted cash conversion of 71.3% at the seasonal low point of the year ADJUSTED CASH CONVERSION, % ADJ. FREE CASH FLOW, DKK M Operating cash flow 426 163 141 Working capital absorbed DKK 56 million, against a small release last year Driven by the seasonal build-up of work in progres
Slide 11: Leverage of 2.0x, with headroom to the target of below 2.5x
CAPITAL STRUCTURE Leverage of 2.0x, with headroom to the target of below 2.5x NET DEBT, DKK M LEVERAGE Net interest-bearing debt 1.7x 2.0x 2.0x DKK 1,090 million, DKK 248 million above the turn of the year Driven by the DKK 166 million net cash cost of acquisitions, the contingent consideration 1,09
Slide 12: 2026 outlook reiterated: all five guided measures unchanged
OUTLOOK 2026 2026 outlook reiterated: all five guided measures unchanged All five guided measures are unchanged from the outlook communicated at the listing, and H1 2026 tracks in line with them. Combined revenue 5,450 to 5,700 The combined basis includes the acquired companies for a full year. DKK
Slide 13: Q&A
QUESTIONS Q&A Questions are taken on the telephone conference. Registration in advance is required, and the details are on our investor site. Maximillian Hjorth Beste, Head of M&A and Investor Relations +45 2899 2846 · mhb@i-g.dk · investors.installergroup.com 26 AUGUST 2026 13
Slide 14: Adjusted EBITA up 34.6%, with the margin up 0.3ppt. to 9.3%
INCOME STATEMENT Adjusted EBITA up 34.6%, with the margin up 0.3ppt. to 9.3% DKK MILLION H1 2026 H1 2025 FY 2025 Revenue Up 29.5%, and in line with expectations for H1 2026 Revenue 2,222 1,716 3,705 Driven by the 2025 and 2026 acquisitions and the Swiss build-out Other operating income 30 18 47 Orga
Slide 15: A balance sheet that supports continued acquisition activity
BALANCE SHEET A balance sheet that supports continued acquisition activity DKK MILLION 30 JUN 2026 30 JUN 2025 31 DEC 2025 Total assets NON-CURRENT ASSETS Up on the acquisitions completed in the period and the seasonal build- up Goodwill 1,601 1,344 1,460 Other intangible assets 243 261 244 Net work
Slide 16: Adjusted free cash flow of DKK 141 million at 71.3% conversion
CASH FLOW Adjusted free cash flow of DKK 141 million at 71.3% conversion DKK MILLION H1 2026 H1 2025 FY 2025 Operating cash flow Working capital absorbed DKK 56 million, against a small release last EBITDA 198 167 386 year Change in working capital (56) 2 60 Driven by the seasonal build-up of work i
Slide 17: Forward-looking statements
IMPORTANT NOTICE Forward-looking statements This presentation may contain forward-looking statements about future events. Forward- InstallatørGruppen has based any such forward-looking statements on various assumptions, looking statements are statements (other than statements of historical facts) re