Bergholm Fritidsfordon (BHOLM) investor relations material

Executive summary

• Q3 net sales rose to SEK 124.1m from SEK 116.2m YoY, while EBIT fell to SEK 1.0m from SEK 3.5m; Norway launch costs weighed on profitability.

• 9M net sales were broadly unchanged at SEK 430.8m; EBIT increased to SEK 17.3m from SEK 14.0m.

Financial highlights

• Q3 EBITDA was SEK 1.3m (SEK 3.9m), EBIT SEK 1.0m (SEK 3.5m), EBT SEK 0.7m (SEK 3.3m) and net income SEK 0.5m (SEK 2.7m).

• Q3 diluted EPS was SEK 0.03 and basic EPS SEK 0.04; 9M basic EPS was SEK 1.00 and diluted EPS SEK 0.95.

• 9M EBITDA was SEK 18.3m (SEK 14.9m); EBT was SEK 17.5m (SEK 9.5m) and net income SEK 13.9m (SEK 7.4m).

• Q3 operating cash flow was SEK 32.6m (SEK 25.3m); closing cash was SEK 50.4m (SEK 23.8m).

Outlook and guidance

• Management reported increased interest in motorhomes and caravans ahead of the coming season, a strong order book in Sweden and Norway, and readiness for 2027 with broader market reach and scalable operations.

• Long-term financial targets: 5–10% annual organic growth, 5% EBT margin, net debt/EBITDA below 1.0x on a rolling 12-month basis, and dividends of 25–50% of annual net income.