Addnode Group (ANOD) investor relations material

Executive summary

• Q2 2026 saw steady business development and improved efficiency, with cost savings initiatives and continued integration of 2025 acquisitions in Brazil, Canada, and Norway, which performed well.

• Stable underlying business, though organic growth was impacted by the Autodesk contract renewal cycle and changes in incentive models.

• Efficiency program underway, targeting SEK 100 million in annual cost savings, with half expected in H2 2026 and full effect in 2027.

• EBITA for Q2 2026 was SEK 148 million (margin 10.2%), but adjusted for SEK 28 million restructuring costs, EBITA was SEK 176 million (margin 12.1%).

• Net profit for Q2 was SEK 20 million, down from SEK 104 million, and EPS dropped to SEK 0.15 from SEK 0.78.

Financial highlights

• Net sales for Q2 2026 were SEK 1,449 million, down from SEK 1,457 million year-over-year.

• Organic growth was -11%, mainly due to Design Management, but acquisitions contributed SEK 158 million; adjusted organic growth was -5%.

• Cash flow from operating activities improved to SEK 62 million from -SEK 33 million last year.

• Gross profit for Q2 was SEK 1,109 million (margin 76.5%).

• EBITA for H1 2026 was SEK 422 million (margin 14.2%).

Outlook and guidance

• Organic growth expected to resume in Q3 and Q4 2026, with 2027 positioned for further improvement as renewal cycles normalize.

• Full cost savings from the efficiency program to be realized in 2027.

• Management remains confident in long-term growth, targeting 15% annual EBITA improvement.

• Growth strategy focuses on organic expansion and acquisitions, with continued risk management for geopolitical uncertainties.