Slide 1: Q2 2026 presentation
Q2 2026 presentation 17 July 2026
Slide 2: This is Instalco
This is Instalco A leading northern European group within heating and plumbing, electricity, ventilation, industry and technical consulting Project planning, installation, service and maintenance of systems installed at properties and facilities Highly decentralised structure – specialised local com
Slide 3: Key financials, LTM
Key financials, LTM Net sales, million SEK Order backlog, million SEK 14,106 10,937 EBITA, million SEK EBITA margin, % 927 6.6 Cash flow from operations, million SEK Cash conversion, % 923 90 3
Slide 4: Quarterly summary
Quarterly summary Key financials Q2 2026 Net sales • Strong organic growth across all segments SEK 3,874 million • Improved profitability through better execution EBITA • Order backlog strengthened further • Instalco 2.0 driving operational SEK 274 million improvements EBITA margin 7.1 % 4 4
Slide 5: Net sales and order backlog (SEK million)
Net sales and order backlog (SEK million) • Net sales growth of 10.3% to SEK 3,874 (3,512) 4,000 8.4% 0.9% 3,874 million 3,500 3,512 1.1% • Organic growth of 8.4% (-3.2), acquired growth 3,000 contributed 1.1%, FX impact of 0.9% 2,500 2,000 • Order backlog growth of 17.0%, 14.8% organically, mainly
Slide 6: EBITA development (SEK million and margin %)
EBITA development (SEK million and margin %) • EBITA amounted to SEK 274 (225) 350 9% million 8% 300 • EBITA margin of 7.1% (6.4) – reflecting higher volumes and 7% 250 operational improvements in the 6% majority of the business 200 5% 150 4% 3% 100 2% 50 1% 0 0% Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24
Slide 7: Segment Sweden
Segment Sweden Key financials Q2 2026 Net sales • Net sales amounted to SEK 2,818 (2,550) million SEK 2,818 million Organic growth of 9.0% EBITA EBITA margin Acquired growth of 1.5% • EBITA amounted to SEK 197 (169) million, corresponding to a margin of 7.0% (6.6) SEK 197 million 7.0 % Order backlog
Slide 8: Segment Norway
Segment Norway Key financials Q2 2026 Net sales • Net sales amounted to SEK 625 (565) SEK 625 million million, positively impacted by FX EBITA EBITA margin Organic growth of 4.9% • EBITA amounted to SEK 42 (36) million, corresponding to a margin of 6.8% (6.5) SEK 42 million 6.8 % Order backlog SEK 2
Slide 9: Segment Finland
Segment Finland Key financials Q2 2026 Net sales • Net sales amounted to SEK 432 (398) million, slightly negatively impacted by SEK 432 million FX EBITA EBITA margin 35 8.1 Organic growth of 9.3% • EBITA amounted to SEK 35 (30) million, SEK million % corresponding to a margin of 8.1% (7.3) Order bac
Slide 10: Cash generation (SEK million)
Cash generation (SEK million) • Operating cash flow impacted by higher receivables following strong growth and invoicing towards the end of the quarter • No corresponding increase in overdue receivables, highlighting the underlying quality of working capital • Strong cash flow and a healthy balance
Slide 11: Strategic targets
Strategic targets Growth Profitability ≥10% Average sales growth should be at least 10% per year over a business cycle. Growth will take place both organically and through acquisitions 8% Instalco aims to deliver an EBITA margin of 8.0% Cash conversion Capital structure (Net Debt/EBITDA) 100% Instal
Slide 12: Instalco becomes majority owner in Fabri AG
Instalco becomes majority owner in Fabri AG 12
Slide 13: Strong development since our initial investment in 2024
Strong development since our initial investment in 2024 NOV 2024 TODAY 01 02 03 A significantly larger and more Continued expansion through Established position in the diversified platform acquisitions German installation market 13
Slide 14: Moving to majority ownership
Moving to majority ownership WE ARE HERE Transaction facts Stage 1 Stage 2 Future steps 24% +27% Existing agreed structure remains Initial investment 51% ownership ✓ Completed Majority control • Acquisition of an additional 27% of the shares • Instalco ownership increases from 24% to 51% • Transacti
Slide 15: A new growth platform within Instalco
A new growth platform within Instalco What remains: What changes: • Local brands and • Fabri becomes part of Instalco’s entrepreneurship consolidated numbers • Closer strategic and operational • Decentralised decision-making collaboration • Fabri’s German management • Increased exchange of best and
Slide 16: CEO's theme AI and installation
CEO’s theme AI and installation 16
Slide 17: AI is creating demand for installations
AI is creating demand for installations SALES BY END MARKET FY 2025 • Data centers require power, cooling, ventilation and control systems Industrial properties 21% • Growing electricity demand drives Schools & hospitals 16% investment in grids and energy Offices 12% infrastructure Logistics/warehou
Slide 18: AI can remove friction from everyday work
AI can remove friction from everyday work Tender Analyse specifications, draft responses INSTALCO AI Launched across the Planning Structure information, Identify requirements Group in June 2026 • Secure common platform Project execution • General and specialised Support project administration assist
Slide 19: AI cannot install anything
AI cannot install anything AI can support our Buildings still need people, but electricians, Installation work is experience, plumbers, ventilation local, physical and judgement and technicians and other increasingly craftsmanship remain skilled professionals technically complex essential More techn
Slide 20: Summary Q2
Summary Q2 • Strong growth and improved profitability • Recovery gaining momentum, though markets remain uneven • Order backlog strengthened further • Instalco 2.0 driving operational improvements • AI platform launched to support productivity across the Group • Majority ownership in Fabri 20
Slide 21: Q&A
Q&A Full power installations from a powerful team