Second quarter highlights

• Net sales amounted to SEK 1,434.7 million (1,303.7) corresponding to an increase of 10.0 percent. The organic change was -5.9 percent in local currencies.
• EBITA increased to SEK 121.0 million (80.7) and the EBITA margin was 8.4 percent (6.2).
• Adjusted EBITA increased to SEK 132.2 million (81.2) and the adjusted EBITA margin was 9.2 percent (6.2).
• Profit for the period amounted to SEK 23.0 million (31.4). Earnings per share amounted to SEK 0.43 (0.65), basic, and SEK 0.42 (0.65), diluted.
• Operating cash flow totalled SEK 180.7 million (92.2).
• The order backlog increased to SEK 4,259.1 million (3,001.4), corresponding to an increase of 41.9 percent. The organic change was -0.8 percent in local currencies.

First half highlights

• Net sales amounted to SEK 2,607.9 million (2,348.9) corresponding to an increase of 11.0 percent. The organic change was -7.9 percent in local currencies.
• EBITA increased to SEK 195.1 million (98.9) and the EBITA margin was 7.5 percent (4.2).
• Adjusted EBITA increased to SEK 208.8 million (101.5) and the adjusted EBITA margin was 8.0 percent (4.3).
• Profit for the period amounted to SEK 18.0 million (21.5). Earnings per share amounted to SEK 0.33 (0.45), basic, and SEK 0.33 (0.65), diluted.
• Operating cash flow totalled SEK 149.0 million (110.7).

CEO comment from Martin Jacobsson: “We have much still to prove, but also much to be proud of. The journey of change we have embarked on continues to show results”
“During the second quarter, we continued our improvement measures, focusing strongly on what we can influence here and now – efficiency, quality and customer satisfaction. Although market conditions remain challenging in many areas, we can clearly see bright spots and positive trends that confirm we are on the right track.
The structural changes initiated in the first quarter have continued to bear fruit. Our companies are now operating with greater agility and a stronger business focus. At the central level, we have increased the pace of our work to identify and share best practices, particularly through the new, active role of the chair. This is reflected in improved cash flow, increased capacity for action in the organisation, more robust governance – and a clear sharpening of the focus on margins.

Organic order backlog growth was relatively unchanged from the second quarter of 2024. It was pleasing to see clear growth in the order backlog for our Swedish operations. In contrast, the Norwegian units performed less well in the wake of the lingering effects of a weak 2024, and this acted as a counterweight to the Swedish upswing.
Organic sales declined by 5.9% in the quarter, which is an expected effect of the previous weak market situation. Our strategy remains unchanged: in the current climate, we are prioritising profitability over growth.
Adjusted EBITA increased by 62.8 % to SEK 132 million (81) and the margin strengthened by 3.0 percentage points to 9.2 % (6.2 %). Clear Line is an important contributing factor to the improvement. With the current development, we are approaching the Group-wide margin target of 10% – a benchmark that is well established throughout the organisation.

With the Total Solutions segment continuing to face challenges, this affects the overall price picture, which is not at previous levels. At the same time, our offering – with its high quality, reliable project management and strong delivery capacity – makes us an attractive partner in our focus projects. We are convinced that clear delivery of customer value will produce results.
Our Special Solutions companies improved their margins for the second quarter in a row. Several units show strong profitability despite challenging markets, particularly in new housing construction.
In the UK, Clear Line had a quarter of good demand, with a growing order backlog. However, project starts were delayed due to the Building Safety Regulator (BSR) having difficulties in keeping up with all the requests, which affected the volume of sales cleared in the short term.

We are positive about having updated our financing agreement, which has deferred the covenant step-down by two quarters
There is still some way to go to reach our 10-10 target by 2028, but we see great opportunities – particularly in the light of our own efforts to build a robust, decentralised and customer-based business model.
We have much still to prove, but also much to be proud of. The journey of change we have embarked on continues to show results – in the form of greater commitment, clearer accountability and better figures.
We are not just building a more profitable company – we are building a stronger company.”

Report presentation
The interim report will be presented in a conference call and webcast today 14 August 2025 at 8.15 a.m. CEST.
Link to webcast: https://fasadgruppen-group.events.inderes.com/q1-report-2025
Registration for participation by phone: https://events.inderes.com/fasadgruppen-group/q1-report-2025/dial-in