Unlimited Travel Group UTG (UTG) investor relations material

Executive summary

• Revenue for Q2 2026 increased by 43% year-over-year to 286.0 MSEK, driven by both acquisitions and organic growth, with B2B segments showing particularly strong performance.

• Gross margin improved to 25.0% (24.8%), supported by positive currency effects and contributions from newly acquired companies.

• EBITA for the quarter was 3.1 MSEK, impacted by acquisition-related costs and integration expenses, while adjusted EBITA for comparable companies rose to 4.9 MSEK (4.8).

• Booking levels at the end of Q2 were 16% higher than the previous year, indicating robust demand despite geopolitical uncertainties.

• Recent acquisitions (NEX Travel, Surfakademin, Waterproof Expeditions, Företagsresor i Umeå) contributed significantly to revenue and strategic positioning.

Financial highlights

• Q2 2026 revenue: 286.0 MSEK (200.0), up 43% year-over-year; H1 2026 revenue: 487.2 MSEK (373.7), up 30%.

• Gross margin Q2: 25.0% (24.8%); H1: 24.9% (21.8%).

• EBITA Q2: 3.1 MSEK (3.6); H1: 0.4 MSEK (-2.4).

• Net result Q2: -0.9 MSEK (1.9); H1: -6.5 MSEK (-5.1).

• Earnings per share Q2: -0.14 SEK (0.04); H1: -0.74 SEK (-0.65).

Outlook and guidance

• Booking levels remain strong, with a 16.3% increase including acquisitions and 6.3% organic growth year-over-year.

• Continued focus on acquisitions and operational efficiency to drive future profitability.

• Management expects stable demand for specialist travel, meetings, and events, despite longer booking processes due to geopolitical uncertainty.