Lifco (LIFCO) investor relations material

Executive summary

• Net sales increased by 10.8% in Q2 2026 year-over-year, with organic growth of 4.7% and acquisitions contributing 6.6%; for H1, sales rose 7.2% to SEK 14,881 million, with EBITA up 10.1% and margin at 22.6%.

• EBITDA/EBITA increased by 13.7% in Q2 and 10.1% in H1, with margin improving to 23.1% in Q2 and 22.6% for H1.

• Net profit and earnings per share grew by 17.7% in Q2 and 12.8% in H1; operating cash flow also up 13.7% in Q2 and 6.2% in H1.

• Four acquisitions completed and consolidated in H1, adding estimated annual net sales of SEK 500 million.

• New reporting structure from Q2 2026, splitting Environmental Technology and Transportation Products from Systems Solutions.

Financial highlights

• Q2 2026 net sales: SEK 7,695 million (+10.8% YoY); EBITA: SEK 1,776 million (+13.7% YoY); EBITA margin: 23.1%.

• Earnings per share for H1 increased 12.8% to SEK 4.23; free cash flow per share CAGR 2014–2026 LTM: 20.3%.

• Net debt/EBITDA at 1.8x as of June 2026; interest-bearing net debt/EBITDA at 1.2.

• Cash flow conversion remains high due to asset-light model and tight working capital control.

• Dividend of SEK 2.70 per share for 2025 paid in May 2026.

Outlook and guidance

• Management notes a return to more normal conditions in 2026 after a challenging 2025, though not all segments are fully recovered.

• Continued focus on acquisitions and organic growth, with a long-term target to increase profits every year.

• Strong financial position and cash flow support further expansion and acquisition activity.

• Cautious on Demolition & Tools and construction-related segments, expecting gradual improvement but no immediate rebound.

• Acquisition pipeline remains active, with ongoing discussions and a disciplined approach to valuations.