Kentima (KENH) investor relations material

Executive summary

• Q3 revenue rose 21% YoY to 18,627 KSEK and gross profit rose 18% to 9,041 KSEK; EBITDA fell to 2,247 KSEK amid growth and product-development investments.

• Q1–Q3 revenue increased 10% to 56,638 KSEK, while EBITDA declined to 5,114 KSEK and profit before tax to 877 KSEK.

• Q3 order intake grew 26% to 17,591 KSEK; management targets higher 2026 orders and revenue, with markedly higher revenue and improved results expected in 2027.

Financial highlights

• Q3 net sales were 18,627 KSEK vs 15,416 KSEK; gross profit was 9,041 KSEK vs 7,672 KSEK.

• Q3 EBITDA was 2,247 KSEK vs 3,213 KSEK; EBIT was 1,009 KSEK vs 2,074 KSEK; profit before tax was 733 KSEK vs 1,770 KSEK.

• Q1–Q3 net sales were 56,638 KSEK vs 51,532 KSEK; gross profit was 27,536 KSEK vs 25,575 KSEK.

• Q1–Q3 EBITDA was 5,114 KSEK vs 8,498 KSEK; EBIT was 1,578 KSEK vs 5,185 KSEK; profit before tax was 877 KSEK vs 4,230 KSEK.

• Q3 operating cash flow was -1,092 KSEK vs 3,782 KSEK; total cash flow was -96 KSEK vs 41 KSEK.

Outlook and guidance

• 2026 priorities are increased order intake and revenue, with a satisfactory full-year result; investments aim to enable markedly higher revenue and substantially improved results in 2027.

• Management expects significant growth in 2027 and beyond, led by own-developed products, a larger sales organization, increased market activity and improving economic conditions.

• A more intensive export initiative is planned for 2027, initially through the new digital platform, followed by additional sales and product resources as demand develops.

• Management expects inventory levels to keep weighing on liquidity over the next few quarters, while assessing liquidity will gradually strengthen.