GLX Holding (GLX) investor relations material

Executive summary

• Delivered resilient Q2 2026 performance amid macro uncertainty, with strong Marine, Offshore & Wind (MOW) revenue growth offsetting softness in Professional Building Solutions (PBS) non-residential construction markets.

• Adjusted EBITA reached NOK 154 million, with a stable margin of 14.0%.

• Strategic investments in operational efficiency, digitalisation, and commercial excellence continued, alongside progress on Green Light strategic priorities.

• Leadership team strengthened with new appointments in business, marketing, and sales.

• Innovation and sustainability initiatives advanced, including new product launches and major contracts in renewable energy.

Financial highlights

• Group adjusted total revenue and other operating income for Q2 2026 was NOK 1,098 million, down 0.3% year-over-year.

• Adjusted EBITA for Q2 2026 was NOK 154 million, a 2.7% decrease year-over-year; margin at 14.0%.

• Order intake for Q2 2026 was NOK 1,132 million, down 3.9% year-over-year; order stock at NOK 1,622 million, down 7.8%.

• Operating profit was NOK 108 million, down 24.6% year-over-year.

• Net cash flow from operating activities was NOK 25 million, down from NOK 49 million in Q2 2025.

Outlook and guidance

• Market fundamentals driven by energy savings, refurbishment activity, regulation, and smart lighting solutions.

• Long-term growth prospects remain positive, driven by demand for energy-efficient smart lighting and investments in offshore energy, navy, and wind sectors.

• Near-term visibility is uncertain due to macroeconomic and geopolitical factors, but the business remains agile and well-positioned.

• Continued focus on executing the Green Light Strategy to capitalize on growth opportunities.

• External projections indicate gradual increase in new building projects over the next two years, contingent on more stable market conditions.