Humble Group (HUMBLE) investor relations material

Executive summary

• Net sales for Q2 2026 reached just over SEK 2 billion (MSEK 2,004), with 1% organic growth year-over-year, reflecting stable demand but operational disruptions and challenging macro conditions in select larger businesses.

• The group maintained resilient underlying profitability through cost efficiency programs and a diversified portfolio, despite headwinds in distribution and UK operations.

• Portfolio optimization continued with the acquisition of Jutexpo and divestment of Fancystage, alongside a SEK 600 million (MSEK 600) goodwill impairment in Sustainable Care to align with strategic focus.

• Investments in strategic growth initiatives, including a new confectionery factory and a partnership with Barebells, reinforce a long-term focus on building a more focused, profitable, and scalable group.

• CEO transition announced, with Anders Fredriksson joining in September.

Financial highlights

• Net sales were just over SEK 2 billion (MSEK 2,004), with total and organic growth at 1% year-over-year.

• Gross profit was SEK 636 million (MSEK 636), yielding a gross margin of 31.7%, flat versus last year.

• EBITA was SEK 120 million (MSEK 120), in line with last year, with a net negative impact from M&A-related items and a gain from divestments.

• EBIT dropped to SEK -523 million (MSEK -523) due to a non-cash goodwill impairment of SEK 600 million (MSEK 600) in Sustainable Care.

• Cash flow from operations was SEK 34 million (MSEK 34) in Q2, with free cash flow negative at SEK -24 million (MSEK -24) due to working capital build-up and investments.

Outlook and guidance

• Management expects to return to stronger organic growth as operational initiatives and investments, such as the new confectionery factory, gain traction.

• Leverage reduction remains a top priority, with expectations to lower it in the second half as CapEx moderates and profitability improves.

• The group continues to focus on profitability, cash generation, and strategic portfolio refinement.