Volati Ab · OMXSTO:VOLO
Volati Ab — Q1 2026 Earnings Presentation
22 slides from Volati Ab's earnings presentation, Apr 29, 2026
Slide 1: Q1 Interim Report Jan-Mar 2026
Q1 Interim Report Jan-Mar 2026 Andreas Stenbäck, CEO Martin Hansson, CEO Salix Group 29 April 2026 Volati Interim Report January - March 2026 1
Slide 2: Value creation through development of our six platforms across 20 markets
Value creation through development of our six platforms across 20 markets Home market Subsidiaries SEK 8,481m SEK 722m ~2,400 Net sales LTM Q1 2026 EBITA LTM Q1 2026 Employees Focus on value creation through the development of our six platforms 58% of Group EBITA 42% of Group EBITA Discontinued oper
Slide 3: Strong EBITA growth in Salix and Ettiketto, while Tornum behind last year
Strong EBITA growth in Salix and Ettiketto, while Tornum behind last year • Net sales increased by 3% and EBITA decreased by 3% to SEK 131m • EBITA increased by 4% adjusted for items affecting comparability, primarily attributable to the ongoing separate listing process of Salix Group • Strong growt
Slide 4: Financial development, Q1 2026
Financial development, Q1 2026 Net sales EBITA Operating cash flow Net debt/adjusted EBITDA SEK 2,063 m SEK 131 m SEK -121 m 2.9 x (Q1 2025: 2,001) (Q1 2025: 135) (Q1 2025: -136) (Q1 2025: 2.9x) Net sales, SEK m EBITA, SEK m 2 250 2 000 250 1 750 200 1 500 1 250 150 1 000 750 100 500 50 250 0 0 Q1 Q
Slide 5: Financial development, LTM Q1 2026
Financial development, LTM Q1 2026 CAGR +11% Net sales 737 726 710 722 SEK 8,481 m 664 658 (Q1 2025: 8,120) EBITA 421 SEK 722 m (Q1 2025: 702) 10,5% 9,2% 9,5% 8,6% 8,4% 8,6% 8,5% Operating cash flow SEK 744 m (Q1 2025: 624) 2020 2021 2022 2023 2024 2025 LTM Q1 2026 Reported figures include Salix Gro
Slide 6: Financial targets
Financial targets EBITA growth Return on adjusted equity Capital structure The target is an average annual growth in The long-term target is a return on The target is a net debt/adjusted EBITDA1 EBITA1 per ordinary share of at least 15 adjusted equity1 of 20 percent. ratio of 2 to 3 times, and not e
Slide 7: Strong platform with proven potential to grow after separate listing
Strong platform with proven potential to grow after separate listing Products and materials for building and industry, primarily hardware, consumables and packaging – as well as products for home & garden, and agriculture & forestry. Volati Interim Report January - March 2026 7
Slide 8: Salix Group
Salix Group EBITA CAGR • Net sales increased by 3% to SEK 1,045m, driven primarily +16% by organic growth • Organic growth remained positive across several markets, 10.1% 4,115 4,150 although some segments continue to face challenging 3,598 3,588 10.6% market conditions 9.9% 3,262 3,402 10.0% • EBIT
Slide 9: Solid momentum in Salix Group ahead of potential separate listing
Solid momentum in Salix Group ahead of potential separate listing 441 EBITA, SEK m, LTM 411 374 • Salix experienced a negative earnings trend 335 336 332 from Q2 2022 to Q1 2024, with acquisitions 316 296 313 partly offsetting the decline 279 273 263 269 269 265 268 256 • Strong earnings momentum si
Slide 10: Acquisition of Laydex
Acquisition of Laydex • Market-leading building materials provider in Ireland, with a strong portfolio of proprietary and external brands • Revenue of ~SEK 480m, with a reported EBITA margin of around 13% • Strategic entry into a new geographically attractive market with strong long-term growth driv
Slide 11: Five business areas with growth focus
Five business areas with growth focus Communication Corroventa S:t Eriks Tornum Group Group Critical High-quality Manufacturer and Supplier of grain Self-adhesive labels infrastructure products for dealing supplier of handling, feed and machines for solutions through with water damage, infrastructur
Slide 12: Financial development, LTM Q1 2026
Financial development, LTM Q1 2026 CAGR +12% Net sales 4,336 472 SEK m 419 (Q1 2025: 4,338) 390 341 318 EBITA 303 SEK 303 m (Q1 2025: 395) 11,2% 168 10,7% 10,1% 9,1% Operating cash flow 7,4% 7,4% 7,0% SEK 248 m (Q1 2025: 323) 2020 2021 2022 2023 2024 2025 LTM Q1 2026 Reported figures exclude Salix G
Slide 13: Ettiketto Group
Ettiketto Group • Net sales in the quarter increased by 39% compared to last year, driven by acquisitions and supported by organic growth 1,316 21.4% • Demand in the important Swedish market has normalised 20.6% 19.9% 1,203 and is now back on good levels 20% 17.1% 18.5% • EBITA increased by 18% year
Slide 14: Communication
Communication • Net sales in the quarter decreased by 9% compared to last year, due to generally lower activity in main markets 766 • Lower volumes are balanced by strengthened margins 744 driven by a more favourable product mix and lower 691 667 653 operating expenses • EBITA margin improved by 2 p
Slide 15: Corroventa
Corroventa • Slight decrease of net sales in the quarter compared to last year - lower flooding activity balanced by strengthened 365 sales in core business 324 • EBITA in line with last year despite a slight margin decline 315 • Going forward, the business area will face easier 34.9% 268 266 compar
Slide 16: S:t Eriks Group
S:t Eriks Group • Net sales in the quarter increased by 7% compared to last year, despite the negative impact of unusually cold weather across Sweden in the beginning of the quarter 1,518 1,511 • EBITA margin declined, mainly due to a lower production 1,340 1,274 rate resulting in lower cost absorpt
Slide 17: Tornum Group
Tornum Group • Net sales in the quarter decreased, mainly due to lower deliveries to Lantmännen not being fully offset by new volumes 951 905 924 • Despite a lower cost base EBITA declined with SEK 27m, 830 838 reflecting the lower volumes • Positive signs in selected markets, with order intake 638
Slide 18: 29 acquisitions and SEK 5,2 billion in annual sales acquired since 2020
29 acquisitions and SEK 5,2 billion in annual sales acquired since 2020 Communication Corroventa S:t Eriks Tornum Group Group Heco SALES Timberman SALES Beneli SALES Scanmast SALES Byggsystem SALES JPT SALES January 2020 180 December 2024 420 June 2020 160 June 2021 290 June 2021 60 January 2021 80
Slide 19: Add-on acquisitions are an important value driver for Volati and our platforms
Add-on acquisitions are an important value driver for Volati and our platforms 1 170 Including Laydex and 1 125 Interket 1 086 1 021 1 017 930 867 8 8 8 823 • Platforms, financial capacity and processes in 789 742 7 753 754 754 7 710 place to continue to grow through acquisitions 686 6 6 637 605 610
Slide 20: Well positioned for further acquired growth
Well positioned for further Net debt, SEK m acquired growth 2 510 2 547 2 435 2 579 2 183 2 223 2 189 2 105 2 081 1 907 1 760 1 812 1 713 • Strong cash flow in the quarter, with a net debt/adjusted EBITDA ratio of 2.9x • LTM Q1 2026 operational cash flow of SEK 744 and total cash generation of 90% 2
Slide 21: Summary
Summary • Another quarter of strong profit growth in Salix Group, with EBITA up 37%. Acquisition of Laydex supporting further growth • Profit growth in Ettiketto and Communication, with EBITA up 18% • Additional cost measures initiated in S:t Eriks and Tornum to ensure profitability at lower volumes
Slide 22: volatl.
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