Interim report January-June 2026

April-June 2026

• Net sales were 554.7 MSEK (503.5), an increase of 10.2% compared with the equivalent period in 2025. Organic growth was 10.6%.
• EBITA was 84.6 MSEK (44.8), an EBITA margin of 15.3% (8.9). The period was impacted by one-off costs of 0.7 MSEK (0.4) relating to an efficiency programme.
• Adjusted EBITA amounted to 85.3 MSEK (45.1), corresponding to an adjusted EBITA % of 15.4% (9.0).
• Earnings per share were 1.47 SEK (0.65).
• Cash flow after investing activities was 90.3 MSEK (68.1).

January-June 2026

• Net sales were 1,099.6 MSEK (1,027.2), an increase of 7.1% compared to the equivalent period in 2025. Organic growth was 9.1%.
• EBITA was 133.4 MSEK (102.9), an EBITA margin of 12.1% (10.0). The period was impacted by one-off costs of 25.0 MSEK (4.5) relating to an efficiency programme.
• Adjusted EBITA amounted to 158.4 MSEK (107.4), corresponding to an adjusted EBITA % of 14.4% (10.5).
• Earnings per share were 2.24 SEK (1.64).
• Cash flow after investing activities was 89.5 MSEK (73.0).

Significant events during and after the quarter

On 28 July 2026, the Group acquired 100% of Bristan Group Limited, the largest supplier of taps and showers in the United Kingdom. The acquisition is not included in the Group's financial position as at 30 June 2026.

COMMENTS FROM THE CEO

Strong profitable growth and market leadership in the UK

We are summarising the second quarter with strong organic growth and significantly improved margins. Sales amounted to 555 MSEK, which corresponds to organic growth of just over 10% compared to the corresponding quarter in 2025. At the same time, the EBITA margin was 15.3%, almost double the result for the second quarter of 2025, and cash flow was strong. After the end of the quarter, we also completed the acquisition of Bristan. This is the largest acquisition in the Group's history and positions us as the market leader in the United Kingdom.

For the sixth consecutive quarter, we report positive sales growth compared to the corresponding quarter last year. This continues to be a strong acknowledgement of customer confidence in our brands, products and local services, especially since the recovery in the construction economy is still taking place relatively slowly in several of our markets. The growth is broad and has mainly been achieved in private and professional renovation projects in both the Nordic region and internationally. We also see that our new product lines are making a positive contribution to growth. The strong demand for the new product lines has also led to delivery challenges, which we have worked intensively on and will continue to be a priority issue during the autumn.

We see a clear improvement in both the gross margin and EBITA margin compared to the second quarter of 2025. The gross margin was just over 41%, compared to just under 37% in the previous year. The improvement is driven by higher sales volumes, a more favorable product mix, improved purchasing and positive effects from the efficiency program implemented in Sweden during the first quarter. In addition, last year's margin was impacted by inventory write-downs. Although we are reporting strong organic growth and seeing signs of a gradual recovery in the construction economy, we continue to maintain a clear focus on cost efficiencies throughout the Group.

After the end of the quarter, we completed the acquisition of Bristan, the leading supplier of taps, showers and related bathroom products in the United Kingdom. The acquisition establishes a clear market-leading position in the United Kingdom, broadens the Group's geographical exposure and is an important step in our strategy to grow through strong brands in selected markets. Together with the strong development we have had with Aqualla, Bristan gives us a very strong platform to further develop our offering to customers in the United Kingdom and Ireland. Over time, we also expect the acquisition to strengthen the Group’s economies of scale, creating better opportunities for efficiencies in internal processes such as procurement and logistics.

In summary, we enter the autumn with much to be pleased about and with a continued clear strategy for developing both our individual brands and the Group as a whole. We are particularly excited to welcome all Bristan employees and to take the next steps together in line with our decentralized and customer-focused business model. With Bristan added to our brand portfolio, FM Mattsson Group further strengthens its position as a leading and growing European player in the bathroom and kitchen market.