Interim Report Q2 2026 Nanologica AB (publ)

FINANCIAL SUMMARY

• Net sales for the second quarter amounted to SEK 24,297 thousand (2,327) and for the half-year to SEK 45,753 thousand (13,079).
• Operating profit for the quarter amounted to SEK -18,073 thousand (-11,280) and for the half-year to SEK 48,999 thousand (-20,521). Operating profit for the first half of the year is affected by the acquisition of Syntagon being recorded as an operating income of SEK 75,676 thousand.
• Profit before tax for the quarter amounted to SEK -18,696 thousand (-12,829) and for the half-year to SEK 47,079 thousand (-23,000).
• Earnings per share before and after dilution were SEK -0.06 (-0.15) for the quarter and SEK 0.66 (-0.28) for the half-year.
• Cash and cash equivalents as of June 30 amounted to SEK 19,061 thousand (26,378).

 
SIGNIFICANT EVENTS DURING THE SECOND QUARTER

• In April, Nanologica received an order of appx. SEK 2 million for the company's silica-based purification media NLAB Saga® for evaluation on a production scale from a customer in India. The order was delivered during the second quarter.
• Nanologica recruited Alexandra Pichard Nielsen for the newly established role of Sales Director at Syntagon AB starting May 1. The recruitment is part of the strategy to increase focus on sales and business development with the goal of increasing Syntagon's sales.
• As a consequence of the acquisition of Syntagon, as of May 1, Group Management consists of CEO Nanologica Andreas Bhagwani, CEO Syntagon Annette Roos, and CFO Eva Osterman, with Andreas Bhagwani as Group CEO.
• Nanologica's CFO Eva Osterman has decided to leave the company with the last day of employment August 31.

 
SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD

• Nanologica has appointed Axel Elner as new CFO. Axel Elner will take up the position on 10 November 2026.

CONTINUED STRENGTHENED COMMERCIAL POSITION
The second quarter was characterized by continued integration of Syntagon and increased commercial activity in both of our business areas. For Syntagon, we have strengthened the sales organization through the recruitment of a new Sales Director, while Nanologica has continued to build a growing pipeline of customers who are evaluating our chromatography products.

Net sales in the second quarter of the year amounted to SEK 24.3 million, of which Syntagon accounted for SEK 22.8 million and Nanologica for SEK 2.5 million. During the quarter, Alexandra Pichard Nielsen was recruited as Sales Director for Syntagon, an important step in increasing sales and gradually improving capacity utilization and profitability.

Syntagon's position in the contract manufacturing market continues to strengthen. We see a clear trend where pharmaceutical companies increasingly want to reduce their dependence on Asian supply chains and locate more production in Europe and the US. The development is driven by increased geopolitical uncertainty, changed trade policy conditions and an increased focus on robust and secure supply chains. For Syntagon, with production in Sweden and extensive experience in pharmaceutical manufacturing, this creates interesting opportunities for new and expanded customer assignments.

During the quarter, Nanologica delivered NLAB Saga® for evaluation in production to a customer in India. Sales of chromatography products remained otherwise low, but the underlying commercial development is positive. During the first half of the year, we intensified several customer dialogues in the US and Europe, which has resulted in additional and larger customers who are now evaluating NLAB Saga® on different scales. Overall, we currently have a significant number of customers who have progressed from evaluation on a laboratory scale to a pilot scale, a subset of which are evaluating the product on a production scale. Our focus is now to gradually move these projects forward towards commercial orders. In parallel, we are working to become an approved supplier for these customers, an administrative process that is a prerequisite for future commercial deliveries. We are now an approved supplier to one customer in the US and are at the forefront of the approval processes at several others.

We therefore continue to have a positive view of the sales opportunities for our chromatography products. This is based on the fact that we now have a product quality that meets customer requirements, stable production and, above all, a significantly broader pipeline with more customers on the way to commercial use of NLAB Saga®.

The work to establish Syntagon as an independent unit within the Group is progressing according to plan and is expected to be completed during the third quarter. This will allow the organization to place an even greater focus on sales and business development.

The priorities for the second half of the year are clear: for Syntagon, it is to increase sales, capacity utilization and profitability. For Nanologica, it is to convert the growing customer pipeline into commercial orders, scale up sales and progress towards break-even.

With a strengthened sales organization, a growing customer pipeline and the integration work with Syntagon on the way to completion, we are in a good position to continue to strengthen the Group's commercial development in the second half of the year.
 
Södertälje, August 2026
Andreas Bhagwani, CEO