BTS Group (BTS) investor relations material

Executive summary

• Q2 2026 revenue reached MSEK 767, up 9% year-over-year on a currency-adjusted, fully organic basis, with EBITA at MSEK 94.1, up 13%, and margin improving to 12.3% from 11.7%.

• North America returned to strong profitability, Europe delivered robust growth, and Other Markets remained flat but are expected to recover.

• Direct AI service revenues grew 221% year-over-year to MSEK 76, now representing 10% of group net sales.

• Excluding a one-time earn-out provision, profit after tax for Q2 rose 29% to MSEK 51.

• Upgraded 2026 outlook: EBITA expected to be significantly better than 2025.

Financial highlights

• Q2 revenue was MSEK 767 (721), up 9% year-over-year, with EBITA at MSEK 94.1 (84.5), up 13%, and margin at 12.3% (11.7%).

• North America: Q2 net sales up 10%, EBITA up 60%, margin at 10.5% (6.9%).

• Europe: Q2 net sales up 25%, EBITA up 38%, margin at 16.2% (14.4%).

• Other Markets: Q2 net sales flat, EBITA down 26% to MSEK 27.9 (39.8), margin at 12.5% (17.9%).

• Direct AI service revenues reached MSEK 76, up 221% year-over-year, now 10% of net sales.

Outlook and guidance

• 2026 EBITA is now forecast to be significantly better than 2025, reflecting upgraded guidance.

• North America and Europe expected to maintain strong performance in H2; Other Markets anticipated to return to growth sooner than previously forecast.

• Growth rate in Europe expected to slow in H2.

• AI innovations and operational efficiencies expected to further improve margins.

• Market sentiment remains positive for H2 2026.