Eniro Group (ENRO) investor relations material

Executive summary

• Net sales for Q2 2026 increased 4.3% year-over-year to SEK 247 million, with operating result doubling to SEK 14 million and net result rising to SEK 8 million from SEK 1 million.

• Adjusted EBITDA for the first half remained stable at SEK 63 million, despite significant investments in sales, technology, and product development.

• Annual Recurring Revenue (ARR) for Marketing Partner reached SEK 546 million, now representing about 80% of the business area's annual revenue.

• Cash flow from current operations was strong at SEK 18 million for Q2 and SEK 27 million for H1, with cash and cash equivalents at SEK 145 million and an equity ratio of 30.7%.

Financial highlights

• Q2 net sales: SEK 247 million (up from SEK 237 million); H1 net sales: SEK 485 million (up from SEK 474 million).

• Q2 operating result: SEK 14 million (up from SEK 7 million); H1 operating result: SEK 13 million (down from SEK 20 million).

• Q2 EBITDA: SEK 27 million (up from SEK 24 million); H1 EBITDA: SEK 38 million (down from SEK 56 million).

• Q2 adjusted EBITDA: SEK 32 million (up from SEK 31 million); H1 adjusted EBITDA: SEK 63 million (flat year-over-year).

• Q2 net result: SEK 8 million (up from SEK 1 million); H1 net result: SEK 0 million (down from SEK 16 million).

• Q2 cash flow from operations: SEK 18 million (up from SEK 14 million); H1: SEK 27 million (down from SEK 33 million).

Outlook and guidance

• The company maintains stable profitability and a higher proportion of recurring revenue, with financial strength to pursue further strategic acquisitions.

• Market remains challenging for Nordic SMEs, but demand among surviving companies is stronger.