Wall To Wall Group Interimreport Q2 2026
WALL TO WALL GROUP INTERIM REPORT Q2 2026
· Net sales stabilized
· Water & Sewer performed well, while Energy fell short of expectations
SUMMARY OF FINANCIAL PERFORMANCE
| Mkr | 1 April 2026 -30 June 2026 | 1 April 2025 -30 June 2025 | 1 January 2026 -30 June 2026 | 1 January 2025 -30 June 2025 | 1 January 2025 -31 December 2025 | 1 July 2025 -30 June 2026 |
| Net revenue | 212.4 | 209.9 | 403.3 | 414.0 | 820.2 | 809.5 |
| Adjusted EBITDA | 24.2 | 23.2 | 42.3 | 36.6 | 85.1 | 90.7 |
| Adjusted EBITDA-marginal, % | 11.4% | 11.0% | 10.5% | 8.9% | 10.4% | 11.2% |
| Adjusted EBITA | 9.9 | 8.1 | 13.3 | 6.7 | 25.0 | 31.6 |
| Adjusted EBITA-marginal, % | 4.6% | 3.9% | 3.3% | 1.6% | 3.0% | 3.9% |
| Operating profit (EBIT) | -0.0 | -38.1 | 0.1 | -64.6 | -251.0 | -186.2 |
| Net earnings | -4.1 | -39.3 | -6.7 | -70.3 | -277.7 | -214.0 |
| Net debt | 292.7 | 238.6 | 292.7 | 238.6 | 244.2 | 292.7 |
| Adjusted EBITDA R12 | 90.7 | 90.9 | 90.7 | 90.9 | 88.9 | 90.7 |
| Net debt/adjusted EBITDA R12 | 3.2 | 2.6 | 3.2 | 2.6 | 2.7 | 3.2 |
| Average No. of shares outstanding in the period, before and after dilution | 13,344,539 | 13,484,389 | 13,358,374 | 13,497,921 | 13,468,943 | 13,378,396 |
| No. of shares outstanding at end of period | 13,710,381 | 13,739,259 | 13,710,381 | 13,739,259 | 13,710,381 | 13,710,381 |
| Treasury shares | 374,351 | 267,877 | 374,351 | 267,877 | 328,351 | 374,351 |
| Basic and diluted earnings per share by average number of shares, SEK | -0.30 | -2.91 | -0.50 | -5.21 | -20.62 | -16.00 |
CEO André Strömgren comments
· During the second quarter net revenue stabilized, thereby breaking the downward trend that has continued since 2023.
· The positive trend within Water & Sewer continued, while Energy has not yet met our expectations. Further measures are planned to adjust indirect costs, with the target being no more than 18 percent of net revenue.
INTERIM PERIOD 1 APRIL – 30 JUNE
· The Group's net revenue amounted to SEK 212.4 million (209.9), adjusted EBITDA to SEK 24.2 million (23.2) and adjusted EBITA to SEK 9.9 million (8.1), corresponding to an adjusted EBITA-margin of 4.6 (3.9) %. On a pro forma and currency-adjusted basis, net revenue decreased 0.1% while adjusted EBITA amounted to SEK 9.8 million (11.1), corresponding to a margin of 4.6 (5.2)%. Operating cash flow amounted to SEK 19.2 million (21.3)
· Operating profit (EBIT) amounted to SEK -0.0 million (-38.1) and was impacted by items affecting comparability.
· The Group’s net profit amounted to SEK -4.1 million (-39.3)
· The Group's earnings per share, basic and diluted, were SEK -0.30 (-2.91)
SIGNIFICANT EVENTS DURING THE QUARTER
· The Annual General Meeting on 26 May decided to re-elect all board members and to elect Helena Hed as a new board member
· On 26 June, the Company announced that all holders of Class B shares had requested the conversion of their shares into Class A shares and that the Board of Directors, in accordance with the Articles of Association, had resolved to convert all 2,000,000 outstanding Class B shares into Class A shares. Following the conversion, the total number of registered shares in the Company amounts to 13,710,381, all of which are Class A shares. The total number of votes in Wall To Wall Group AB consequently amounts to 13,710,381. The conversion does not result in any change in the total number of shares or votes in the Company
PERIOD 1 JANUARY – 30 JUNE
· The Group's net revenue amounted to SEK 403.3 million (414.0), adjusted EBITDA increased to SEK 42.3 million (36.6) and adjusted EBITA to SEK 13.3 million (6.7), corresponding to an adjusted EBITA-margin of 3.3 (1.6) %. On a pro forma and currency-adjusted basis, net revenue decreased 4.4% while adjusted EBITA amounted to SEK 13.2 million (11.4) corresponding to a margin of 3.3 (2.7)%. Operating cash flow amounted to SEK -5.0 million (15.7)
· Operating profit (EBIT) amounted to SEK 0.1 million (-64.6) and was impacted by items affecting comparability
· The Group’s net profit amounted to SEK -6.7 million (-70.3)
· The Group's earnings per share, basic and diluted, were SEK -0.50 (-5.21)
OUTLOOK
The market remains characterized by caution and lengthy decision-making processes. The focus remains on increased sales, improvement in underperforming operations, and a lower cost base. As before, the assessment is that the Group, at a revenue level exceeding the 2025 level by approximately ten percentage points, can achieve a double-digit EBITA margin as a step toward the long-term targets. For the current year, increased net sales and an improved operating margin are expected.