NIMBUS GROUP Interim report 2026

Significant events during the third quarter of 2026
· Nimbus Group entered into a strategic partnership with Nautrik AB regarding the production of autonomous unmanned surface vessels (USVs) in September. The first batch of units has been delivered and has successfully completed acceptance and verification testing with positive results.
· Nimbus Group showcased the Sport Tender 35 and the Sport Weekender 42 Open for the first time at the Cannes Yachting Festival in September.
 
Significant events after the balance sheet date
· Mikael Mårtensson assumed the role of CFO on 1 October 2026.
· Nimbus Group revealed the Sport Coupé 35 in October, a Sport Cruiser with the comfort of a Coupé. The boat makes its world premiere at the boat show in Düsseldorf in January 2027.
 

CEO COMMENT
Improved performance against flat sales
In a market that has stabilized at a low level, Nimbus Group improved the quarter to quarter performance. This progress reflects our continued focus on targeted initiatives to strengthen profitability, cash flow and operational efficiency.
 
A consolidating market
The global marine market continued to face challenges from weak consumer confidence, high interest rates, and elevated energy costs. At the same time, we saw increased attendance at international boat shows, low dealer inventory levels, and a strong boating season in Sweden, with marinas experiencing higher occupancy rates than they have had for several years.
From a global perspective, our industry has undergone a healthy consolidation, both among dealers and boat manufacturers. Overall, the global market has stabilized over the past year, although at a low level. Success in such a market environment requires focused market activation, continuous product portfolio renewal, and strong cost discipline.
 
Stable Sales across Retail and Commercial
In the third quarter, Nimbus Group sales were in line with last year. This supports our assessment that the market is stabilizing at a low level and marks a shift from the negative trend seen in recent years. Order intake was strong and amounted to SEK 522 million, compared with SEK 212 million in the corresponding quarter of the previous year. The increase was primarily driven by the launch of the Nimbus Sport Tender 35 and by the inclusion in the order book of the full order of MSMB200 from the Swedish Defence Materiel Administration (FMV), valued at SEK 260 million. At the end of the quarter, the order book amounted to SEK 605 million, compared with SEK 358 million a year earlier.
 
Improved earnings across the income statement
Nimbus Group improved its earnings during the quarter, driven by a higher gross margin and lower operating expenses.
The Group’s EBITA amounted to SEK -17 million (-45) for the quarter, while the EBITA margin was -6,6 percent (-17,1). Free cash flow for the quarter amounted to SEK -37 million (-43). Year-to-date, we have improved free cash flow by SEK 153 million compared with the previous year. Available liquidity amounted to SEK 229 million (248) at the end of the quarter.
 
Reduced losses in Edgewater
Our efforts to stabilize operations at Edgewater continue at full pace, and efficiency improvements and capacity reductions have delivered tangible results. We have significantly reduced Edgewater’s negative earnings contribution, while continuing our work to restore the business to balance. Given our strategy to no longer manufacture the Nimbus brand at Edgewater, we are also reviewing our long-term plans for the operation.
 
New launches and extensive marketing activities
We concluded an intense quarter with extensive marketing activities at the major European boat shows in Cannes, Genoa and Southampton. At these events we unveiled the first model in the Sport Cruiser 35 family, the Sport Tender 35. We also showcased our new Sport Weekender 42 Open, and after the end of the quarter we released images of the Sport Coupé 35. The new models have been very well received and embody what Nimbus stands for - elegant boats with generous social spaces and outstanding seaworthiness. We are proud to launch these boats and further clarify the strategic direction of the Nimbus brand. The increased visibility of our brands and products across digital channels, and at boat shows, is a deliberate investment, and I am pleased to see it delivering results. In addition, during a few sunny days in August, we gathered our dealers for a global dealer conference on Sweden's west coast. Participation was excellent, with dealers from around the world joining together with our key suppliers and partners. I would like to extend my sincere thanks to everyone who contributed to making this event a success.

Continued investment in the defense segment
During the quarter, Nimbus also took the next step in its expansion into the workboats and defense boat segments by initiating production of Unmanned Surface Vessels (USVs) for the customer Nautrik AB. This is a very exciting collaboration where we use our existing infrastructure and expertise to serve a new market. To date, we have produced prototype volumes with a limited financial impact on the Group, and we look forward with great anticipation to the opportunities this collaboration may create over time. We also continue to expand our defense offering through the Alukin brand. Our investment in the defense and workboats segments remains a cornerstone of our strategy for long-term profitability and growth.
 
Finally, this autumn marks my first year at the helm of Nimbus Group. During the year we have taken important steps toward stronger performance and improved results. It is inspiring to see the energy, commitment, and dedication demonstrated by our employees as we continue this journey together. While we have made meaningful progress there is still work to be done, and we remain fully committed to driving the business forward with focus and determination.
 
Johan Inden
President and CEO

Teleconference:
Nimbus Group will publish the interim report for the third quarter 2026 on Thursday 22 October at 07:30 CEST. A webcasted telephone conference will be held at 10.00 a.m. CEST on the same day, where President and CEO Johan Inden will present the report together with CFO Mikael Mårtensson. The presentation will be followed by a Q&A session. The presentation will be held in English. Those who wish to participate in the conference call in connection with the presentation can register via the following link:
https://events.inderes.com/nimbus/q3-report-2026/dial-in
 
After registration, you will receive a telephone number and a conference ID to log in to the conference. Via the telephone conference, it will be possible to ask oral questions.
 
It is also possible to follow and listen to the presentation and the conference on the following web link:
https://events.inderes.com/nimbus/q3-report-2026