April - June 2025

• Net sales amountes to 390 SEKm (211)
• Organic sales growth amounted to 13 %
• EBITA increased by 30 % and amounted to 26 SEKm (20)
• Adjusted EBITA amounted to 50 SEKm (32)
• Operating profit amounted to 19 SEKm (17)

January - June 2025

• Net sales amounted to 688 SEKm (389)
• Organic sales growth amounted to 16 %
• EBITA increased by 32 % and amounted to 61 SEKm (46)
• Adjusted EBITA amounted to 98 SEKm (63)
• Operating profit amounted to 49 SEKm (43)

Comment from the CEO
Strengthened position in the Norwegian market

Qflow Group continues to grow through acquisitions but also with strong organic growth driven by more employees and good demand for our services. The focus on recruitment and collaboration between the group's entities has had a beneficial effect during the second quarter.

During the quarter, two companies were acquired.

MexL, with its strong base of public sector clients in Western Sweden, is an excellent complement to the group's existing companies focused on infrastructure.

Novaform, with its expertise, size, and geographical spread, is a particularly important part of strengthening our offering to our Norwegian clients. Through this acquisition, we are scaling up our presence in the market and can compete for larger assignments. A testament to this is that a consulting group led by Novaform has won a major framework agreement tender with the Norwegian Armed Forces for the expansion of airports.

Going forward, we will continue to prioritize acquisitions and growth that strengthen our offerings, primarily within infrastructure. And as the group grows, we will develop synergies between our entities.