Inwido Ab · OMXSTO:INWI
Inwido Ab — Q2 2026 Earnings Presentation
27 slides from Inwido Ab's earnings presentation, Jul 15, 2026
Slide 1: Q2 Interim report January-June 2026
Q2 Interim report January-June 2026 Fredrik Meuller, President & CEO Peter Welin, CFO & Deputy CEO July 15, 2026
Slide 2: Agenda
Agenda Highlights Business Areas Financials Summary and outlook Q&A
Slide 3: Record-high profit and strong growth in volatile markets
3 Record-high profit and strong growth in volatile markets Highlights Q2 2026 Net sales SEK 2,721m (2,339) change +16% ▪ Middle East conflict dampens demand, adds organic change +4% uncertainty, and strains commodity markets ▪ Large market variations – Denmark rebounding nicely Order intake, organic
Slide 4: 6 acquisitions during past 7 months, adding SEK 1.5b
6 acquisitions during past 7 months, adding SEK 1.5b 2 new markets entered – Slovenia and Croatia RM Snickerier Sweden Marlex Fast Frame Croatia UK Sovereign AJM UK Slovenia Victorian Sliders UK
Slide 5: Acquiring the leader in yet another new market
Acquiring the leader in yet another new market Marlex d.o.o., Varaždin, Croatia ▪ Manufacturer of PVC and aluminum windows, doors, and insulating glass – No. 1 in Croatia in PVC ▪ Founded in 2003 – sales 33 MEUR, 270 FTEs ▪ Strong brand and distribution network ▪ Profitability above Inwido’s average
Slide 6: Agenda
Agenda Highlights Business Areas Financials Summary and outlook Q&A
Slide 7: Higher margin via volume and production efficiencies
Higher margin via volume EASTERN EUROPE and production efficiencies Business Area Scandinavia Sales SEKm and Op EBITA %, LTM 5 000 16% 14% ▪ Sales +7% to SEK 1,256m (1,168), organic +5% 4 000 12% ▪ Organic order intake +8% 3 000 10% 8% ▪ Op EBITA SEK 190m (169) 2 000 6% ▪ Op EBITA margin 15.1% (14.5
Slide 8: Project segment improving while Consumer remains soft
Project segment improving WESTERN EUROPE while Consumer remains soft Business Area West Sales SEKm and Op EBITA %, LTM 14% ▪ Sales +52% to SEK 659m (433), organic +10% 2 000 12% 1 600 10% ▪ Organic order intake +126%, driven by GBP 50m 8% 1 200 Sidey Solutions’ record-breaking project order 6% 800 ▪
Slide 9: In the black for Q2 and YTD despite major volume drop
In the black for Q2 and YTD SCANDINAVIA despite major volume drop Business Area East Sales SEKm and Op EBITA %, LTM 1 800 9% ▪ Sales +15% to SEK 510m (443), driven by 1 600 8% 1 400 7% acquisition of AJM Group, organic -2% 1 200 6% 1 000 5% ▪ Organic order intake -6% 800 4% 600 3% ▪ Op EBITA SEK 26m
Slide 10: Online business >10% Op EBITA margin on LTM basis
Online business >10% Op e-Commerce EBITA margin on LTM basis Business Area e-Commerce Sales SEKm and Op EBITA %, LTM 1 200 12% ▪ Sales +3% to SEK 298m (289), organic +3% 1 000 10% ▪ Organic order intake -1% 800 8% 600 6% ▪ Order backlog +15% year-on-year 400 4% ▪ Op EBITA SEK 37m (26) 200 2% ▪ Op EB
Slide 11: Agenda
Agenda Highlights Business Areas Financials Summary and outlook Q&A
Slide 12: Q2 recovery raised growth and margin after a softer Q1
12 Q2 recovery raised growth and margin after a softer Q1 Organic growth of 4% in the quarter, and thereby organic growth for the first half year Q2 Q1-Q2 SEKm 2026 2025 Change 2026 2025 Change LTM 2025 FY Net sales 2,721 2,339 16% 4,804 4,338 11% 9,468 9,002 Gross Profit 701 600 17% 1,162 1,057 10%
Slide 13: Record Q2 result, with only BA East below last year
Record Q2 result, with only BA East below last year Volume growth and improved efficiency offset higher material costs Sales in Q2, SEKm, from 2025 to 2026 Op EBITA in Q2, SEKm, from 2025 to 2026 3000 350 +11 -0 +225 +66 +9 -7 +22 -4 2500 +87 300 +20 250 2000 200 1500 150 1000 100 500 50 2,339 2,721
Slide 14: Margin above last year's despite a challenging market
Margin above last year’s despite a challenging market Pricing, efficiency improvements and cost control had a positive margin impact in the quarter Sales and Op EBITA % in Q2, 2020 - 2026 3,000 13.3% 14.0% 11.8% 12.0% 11.6% 11.3% 11.3% 11.5% 12.0% 2,500 10.0% 2,000 8.0% Op EBITA, % Sales, SEKm 1,500
Slide 15: Cash flow improved compared with last year
Cash flow improved compared with last year Higher investments in tangible and intangible assets, with LTM capex level at 3.4 percent of sales Q2 Acquisitions of tangible and intangible assets in SEKm and % of sales Change SEKm 2026 2025 SEKm 4.1% 400 4.5% Cash flow from operating activities 337.1 28
Slide 16: Leverage remains healthy despite continued acquisitions
Leverage remains healthy despite continued acquisitions Net Debt / EBITDA of 2.1x excluding IFRS 16, 1.8x adjusted for pro forma for 2025 / 2026 acquisitions Net Debt (SEKm), Net Debt vs Op EBITDA (times) 3,500 2.5 3,000 Net Debt / Op EBITDA incl. IFRS 16: 2.2x (1.2) 2.0 2,500 Net Debt / Op EBITDA e
Slide 17: Improved ROOC compared to Q1 driven by higher result
17 Improved ROOC compared to Q1 driven by higher result Operating capital increased, mainly due to acquisitions Average Operating Capital (SEKm), and ROOC (%) 8,100 20% 17.9% 17.9% 18.3% 17.6% 7,700 16.8% 18% 16.2% Target 15.4% 16% 7,300 13.7% 13.2% 13.4% 12.7% 13.1% 13.1% 12.7% 12.4% 14% 6,900 11.7
Slide 18: Organic order intake increased by 23% in the quarter
Organic order intake increased by 23% in the quarter Consumer grew 3% and a record GBP 50m Project order in Scotland drove order intake and record backlog Order backlog, SEKm, 2024 - 2026 Order intake in Q2 2026 compared to last year 3,500 3,290 3,000 2,829 Organic 2,500 Group +23% 2,000 Project - w
Slide 19: Consumer: Growth in Sweden and Denmark
Consumer: Growth in Sweden and Denmark UK and Finland remain challenging, though the decline has eased versus recent quarters Consumer: Organic order intake per quarter 2025 Q2 – 2026 Q2 (share of Consumer sales, 2026 LTM) 20% 15% 21% 10% 5% Group Denmark 3% (41%) 2% UK Finland (14%) (7%) 0% -2% -2%
Slide 20: Project: Order intake remains volatile
Project: Order intake remains volatile Organic growth reached 58 percent in the quarter mainly due to the record order in Scotland of GBP 50m Project: Organic order intake per quarter 2025 Q2 – 2026 Q2 (share of Project sales, 2026 LTM) 300% 250% 200% 150% UK Group (30%) Denmark 100% Finland Norway
Slide 21: Agenda
Agenda Highlights Business Areas Financials Summary and outlook Q&A
Slide 22: Record-high profit and strong growth in volatile markets
22 Record-high profit and strong growth in volatile markets Highlights Q2 2026 An uncertain operating context… ▪ Middle East conflict ▪ Large market variations ▪ Energy Performance for Buildings Directive ▪ M&A opportunities in consolidating industry …yet Inwido’s governance model and strategy work
Slide 23: Outlook
Outlook Market uncertainty remains high due to the ongoing Middle East conflict Gradual improvement across all Inwido business units offers cautious optimism for H2 2026 Inwido is well positioned to withstand market fluctuations Our strategic direction is firm, and we are successfully executing on o
Slide 24: Agenda
Agenda Highlights Business Areas Financials Summary and outlook Q&A
Slide 25: Questions & Answers
Questions & Answers Fredrik Meuller, President & CEO Peter Welin, CFO & Deputy CEO
Slide 26: Upcoming events
Upcoming events Financial calendar 2026 October 21 Q3 report 2026 December 9 Capital Markets Day, Stockholm February 9, 2027 Q4 and full year report 2026
Slide 27: Slide 27