Samhall (SH) investor relations material

Executive summary

• Weak economic conditions persisted, while efficiency measures and customer expansion supported resilient operations and continued progress on employment transitions.

• 9M revenue rose 6% YoY to SEK 2,697M, but operating loss widened to SEK 332M and net loss to SEK 199M, largely due to higher personnel costs.

• The 9M employment transition count was 1,094, broadly level with 1,091 a year earlier; recruitment from priority groups reached 64%, above the 50% target.

Financial highlights

• Q3 revenue was SEK 864M, up 4% YoY; operating loss was SEK 31M versus SEK 5M, and net loss was SEK 19M versus net income of SEK 28M.

• 9M revenue was SEK 2,697M, up 6% YoY; operating loss was SEK 332M versus SEK 118M, and net loss was SEK 199M versus SEK 48M.

• Q3 gross profit was SEK 746M versus SEK 729M; gross margin was 86% versus 88%. 9M gross profit was SEK 2,301M versus SEK 2,220M; margin was 85% versus 87%.

• 9M financial income was SEK 172M versus SEK 69M, mainly reflecting fair-value changes in financial investments; this partly offset the operating loss.

Outlook and guidance

• 2026 targets: 32.84M protected-work wage hours, 2.99M LFU wage hours, 1,500 transitions, 50% priority-group recruitment, 30% solidity and 5% return over a business cycle.

• At September 30, protected-work hours were 24.88M, LFU hours 2.12M, transitions 1,094, priority recruitment 64% and solidity 38%.

• Management expects signs of gradual economic improvement, alongside customer-offering and delivery initiatives, to support future demand and transitions; the recovery had not yet reached customers.

• The government indicated it would revisit funding in the 2027 budget proposal; management called for compensation aligned with assignment scope and costs.