VBG Group (VBG) investor relations material

Executive summary

• Revenue grew 8.7% year-over-year in Q2 2026, with 8.3% organic growth and limited impact from Middle East tensions; all divisions and geographic markets contributed to growth.

• Order intake increased by 11% compared to Q2 2025, indicating strong demand for the coming quarter.

• EBITA margin declined to 10% from 13.1% year-over-year, impacted by restructuring costs, higher raw material prices, and U.S. tariff changes.

• Operating profit (EBIT) was SEK 135.5M, down from SEK 167.1M, due to restructuring and cost pressures.

Financial highlights

• Q2 net sales reached SEK 1,480.4M, up 8.7% year-over-year; organic growth was 8.3%.

• EBITA was SEK 148.6M; EBITA margin declined to 10%.

• Operating profit (EBIT) was SEK 135.5M; EBIT margin at 9.2%.

• Earnings per share were SEK 3.58 in Q2 2026.

• Cash flow before investments was lower due to higher working capital needs, mainly inventory and receivables.

Outlook and guidance

• Management remains focused on restoring profitability, especially in Mobile Thermal Solutions, and offsetting cost increases through price adjustments and efficiency measures.

• Price adjustments and cost take-outs are expected to offset increased costs, with margin recovery anticipated in Q4 if conditions stabilize.

• No formal forecast provided for 2026, but order book strength and diversified market presence support a positive outlook.

• Toronto facility to be operational in Q4 2026, supporting future capacity and efficiency.