Coor Service Management (COOR) investor relations material

Executive summary

• Organic growth for Q1 was 0.4%, with strong performance in Sweden, Norway, and Finland, but a significant decline in Denmark due to contract losses.

• EBITDA/EBITA margin improved to 5.5% from 4.7% year-over-year, driven by operational efficiency and strong Swedish results.

• High market activity with several new contracts won and extensions, especially in Sweden and Norway; Denmark impacted by prior contract losses.

• Strong cash conversion at 92% LTM and leverage reduced to 2.3x adjusted EBITDA.

• Environmental initiatives recognized with EcoVadis Gold and CDP A- ratings.

Financial highlights

• Net sales for Q1 2026 were SEK 3,014 million, down 1.3% year-over-year, impacted by negative FX of 1.7%.

• Adjusted EBITDA/EBITA was SEK 167 million, margin at 5.5%, both up from last year.

• Net income reached SEK 69 million; adjusted net income was SEK 77 million, both improving year-over-year.

• Cash and cash equivalents at period end were SEK 306 million, with undrawn credit lines of SEK 1,250 million.

• Equity/assets ratio increased to 22% from 19% year-over-year.

Outlook and guidance

• Continued high market activity expected, with ongoing ramp-up of new contracts in Norway and positive momentum in Denmark despite recent losses.

• Denmark anticipates ongoing negative impact from ended contracts in coming quarters, with potential for recovery as new tenders are pursued.

• Growth initiatives are expected to take effect later in the year, supporting margin development.