Slide 1: BTS Group Q2 2026
BTS Group Q2 2026 Jessica Skon CEO August 14, 2026 1
Slide 2: Revenue and operating profit (EBITA) per year
+3% Revenue and operating profit (EBITA) per growth, year adjusted for currency effects MSEK MSEK 3 000 400 EBITA REVENUE 2 750 Average Average EBITA 350 2 500 Growth growth 12%/year 13%/year 2 250 2001-2025 2001-2025 300 2 000 250 1 750 1 500 200 1 250 150 1 000 750 100 500 50 250 0 0 2001 2002 200
Slide 3: Q2 - Executive summary: One more quarter of profit growth
Q2 - Executive summary: One more quarter of profit growth • Revenue MSEK 767 (721), +9%* • EBITA MSEK 94.1 (84.5), +13%* • EBITA margin 12.3% (11.7%) • BTS North America back to strong profitability • BTS Europe continues to deliver growth • BTS Other Markets on track to recover • AI drives revenue
Slide 4: BTS North America back to strong profitability
BTS North America back to strong profitability • Revenue 357 (337), +10%* • EBITA MSEK 37.5 (23.4) +60* • EBITA-margin 10.5% (6.9%) • Strong result reflects continued execution across several dimensions • Ambition to get back to the higher profitability levels that we achieved across most of the yea
Slide 5: BTS Europe continues to deliver growth
BTS Europe continues to deliver growth • Revenue MSEK 163 (132), +25%* • EBITA MSEK 26.4 (19.1), +38%* • EBITA-margin 16.2% (14.4%) • Growth reflects delivery of large deals won in H2 2025, strong new business momentum, and no project cancellations or delays in the quarter. • Strong demand in defens
Slide 6: BTS Other Markets on track to recover
BTS Other Markets on track to recover • Revenue MSEK 222 (223), +1%* • EBITA MSEK 27.9 (39.8), -26%* • EBITA-margin 12.5% (17.9%) • Continued headwinds in Asia Pacific • Several actions to address the headwinds: • Implementing partner-led activities in Southeast and Northeast Asia • Increased AI mar
Slide 7: AI drives revenue growth and competitive differentiation
AI drives revenue growth and competitive differentiation • AI is becoming a strategic and financial tailwind for BTS • Our integration of AI into service delivery makes our offering increasingly competitive • Starting this quarter, we are reporting direct AI adoption revenues rather than bookings •
Slide 8: Why invest in BTS?
Why invest in BTS? 1. We are back to sustained profitable growth. 2. AI is creating more opportunities for growth & improved productivity, while our core remains in strong demand. 3. Our growth is capital-light 8
Slide 9: 1. Sustained profitable growth
1. Sustained profitable growth • World class list of global clients, innovating how companies learn, change and perform. • 1% global market share and ahead of the competition • Sustained growth is in our DNA • 13%* Revenue CAGR 2001-2022. 2022-2025 growth was held back by mistakes in our North Ameri
Slide 10: 2. BTS is in the sweet spot for AI demand & AI-driven innovations & efficiencies
2. BTS is in the sweet spot for AI demand & AI-driven innovations & efficiencies • We are in the top 5% of companies with AI ROI, taking our Applied AI learnings to our clients. Applied AI innovation is not a tech issue, it’s a people problem. • AI productivity gains (74MSEK in 2026 annual savings d
Slide 11: 3. Our growth is capital light
3. Our growth is capital light • 12% revenue CAGR since our IPO, roughly 2/3 organic growth and paid for a number of acquisitions • Dividend 40-65% of profit after tax • No new capital from shareholders • A strong net cash position • Cash conversion 84% (78%) last twelve months 11
Slide 12: Upgraded outlook for 2026
Upgraded outlook for 2026 We estimate that the result (EBITA) for 2026 will be significantly better than 2025, which deviates from the previous report when the result was expected to be better than 2025. 12
Slide 13: Strategy made personal
Strategy made personal eobts