Enrad (ENRAD) investor relations material

Executive summary

• Net sales for Q2 2026 were 11,186 Tkr, down from 15,237 Tkr year-over-year; H1 2026 net sales totaled 18,326 Tkr, down from 31,447 Tkr year-over-year.

• Operating loss before depreciation and financial items for Q2 was -2,580 Tkr (vs. -2,332 Tkr); H1 operating loss was -8,907 Tkr (vs. -1,477 Tkr).

• Net result per share for H1 was -0,38 kr (vs. -0,13 kr); equity at period end was 31,102 Tkr (vs. 45,650 Tkr).

• The period was marked by strategic changes, including completion of an investment plan, relocation to a new facility, and IT migration.

Financial highlights

• Gross margin pressure evident as personnel and raw material costs remained high relative to sales.

• Cash flow from operations for H1 was -10,192 Tkr (vs. -6,053 Tkr), with cash at period end at 7,324 Tkr (vs. 21,196 Tkr).

• Equity ratio at period end was 59% (vs. 76%).

Outlook and guidance

• Management remains positive on future prospects, expecting improved order conversion as market conditions recover.

• Swedish market shows positive development; further growth expected in the Netherlands.

• Efficiency gains from recent investments are expected to impact results from late 2026 and more clearly in 2027.