BTS Group (BTS) DNB Carnegie Micro Cap Day Conference summary

Strategic focus and innovation

• Maintains a 40-year focus on the people side of change, now more relevant in the AI era.

• Differentiates through high-fidelity simulation-based learning, modernized with AI.

• AI innovation has led to three major internal breakthroughs, simplifying roles and driving change management across 24 countries.

• AI services now represent 10% of group net revenue, with strong demand for both core and new AI-driven offerings.

• Five new AI-related services have been developed in response to evolving client needs.

Financial performance and growth

• Achieved SEK 2.7 billion in revenue, with 12% average top-line and 13% profit growth since IPO.

• Dividend payout is 40–65% of profit after tax, with an 84% cash conversion rate.

• Q2 saw 9% global revenue growth, 13% profit growth, and EBITDA margin improvement from 11.7% to 12.3%.

• North America returned to double-digit growth and 60% EBITDA improvement in Q2.

• Europe delivered 25% organic growth and 38% profit margin improvement in Q2.

Regional developments

• North America, the largest unit, now drives profitability, benefiting from AI efficiency savings.

• Europe experienced strong demand in defense and manufacturing, with nearly all offices achieving double-digit growth.

• Other Markets, especially Asia-Pacific, faced a slow start but are expected to recover in H2 after partner and marketing changes.

• Middle East and other large units in Other Markets are performing well, while Southeast Asia is being restructured for profitability.