Karnell Group AB ser. B (KARNEL_B) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Canell's Q2 2026 earnings presentation. I am Petter Malenius, the CEO of Canell and joined by our CFO, Niklas Svensson. Q2 2026 is a quarter we will look back to as a milestone in Canell's development. For the first time, our quarterly EBIT A exceeds 100 million SEK. And on a rolling 12-month basis, our EBITDA margin has now reached 15.4%. And by that, surpassing the financial target we set out at the time of the IPO in March 2024. As usual, I'll begin with an overview of the quarter and the progress we've made. Niklas will then take you through the segmentation's performance and financials in more detail. including cash flow and leverage. I'll then return and discuss our latest acquisition and close with some key takeaways. And for those of you who are joining us for the first time, Canell is an active and long term industrial owner. We acquire and develop small to medium sized industrial technology companies with strong position in their respective niches. We operate in a fully decentralized model, Our companies run their own businesses supported by a lean central team focused on M&A, capital allocation and ownership. Today, Canell comprises of 20 companies across Sweden, Finland, the UK and Italy, employing around 900 people. And with that, let's turn to the quarter. As I mentioned, Q2 marks a significant milestone for Canel. EBIT A crossed 100 million SEK for the first time on a net sales of 584 million SEK. The EBIT A margin for the quarter was 17.1% compared to 14.6% a year ago. On a rolling 12 month basis, our EBIT A margin is now 15.4% and we have thereby achieved the financial target of at least 15%. A target we communicated to our investors ahead of the IPO and said that we would reach it in a medium term. That commitment has now...