Bergman & Beving's Interim Report 1 April - 30 June 2026

First quarter (1 April–30 June 2026)

• Revenue amounted to MSEK 1,323 (1,319).
• EBITA increased by 9 percent to MSEK 142 (130) and the EBITA margin improved to 10.7 percent (9.9).
• Net profit totalled MSEK 61 (60).
• Cash flow from operating activities increased to MSEK 190 (182).
• One acquisition was completed, with annual revenue of approximately MSEK 25.
• Earnings per share for the most recent 12-month period amounted to SEK 8.55 after dilution, compared with SEK 8.50 for the 2025/2026 financial year. Adjusted earnings per share after dilution amounted to SEK 8.50 (8.45).

CEO’s comments

Improved earnings and stronger margins, returns and cash flow

We delivered another quarter of improved earnings, a higher profit margin and stronger returns, despite a cautious underlying market in construction and industry, with revenue growth of only 1 percent for comparable units. EBITA increased to MSEK 142 (130), up just over 9 percent, and we can now report 26 consecutive quarters of improved earnings. The EBITA margin improved by 0.8 percentage points to 10.7 percent. The return on working capital (P/WC) moved in the right direction and is now at 37 percent (32), and cash flow from operating activities for the quarter increased to MSEK 190 (182).

Core Solutions and Safety Technology continued to deliver good returns, with increased profit and stronger margins. Adjusted for divestments, revenue and earnings for PPE & Utilities remained unchanged. While several companies in the division increased their profit during the quarter, Luna’s performance remained weak. Machinery & Equipment was a disappointment during the quarter. Several customers at the division’s companies chose to delay their investments in machinery and equipment. In combination with a less favourable business mix and some non-recurring costs, this led to weaker revenue and lower earnings for the quarter. Since these customers’ investment needs remain unchanged, and the mix and cost effects are deemed to be temporary, I expect that the division will return it profit growth and increased returns.

The Group’s gross margin remained at 50 percent for the third consecutive quarter. Several of our companies have seen rising raw material and energy prices as well as increased shipping costs. Thanks to our decentralised way of working, with decisions made close to the customer, these companies have been able to respond quickly and mitigate these effects.

Acquisitions continue

Our acquisition work continued, and in April our subsidiary Uveco acquired the company All-Coating. Under the Flexcoat product brand, All-Coating offers sheet metal in customer-specific colours based on a proprietary method that allows the sheet metal to be further processed afterwards. I’m pleased to welcome the company, which will strengthen our sheet metal offering.

Long-term value creation

It is still my assessment that demand will gradually pick up in 2026, although it could take a few quarters before customer investments are reflected in our companies’ invoicing. Our direction remains unchanged. We are continuing to build, organically as well as through acquisitions, a portfolio of technology companies with strong market positions in niches that offer good margins, high returns and growth potential. With a lower cost base and continued strong margins, we are well equipped for when the economy and the construction market once again gain momentum. Thanks to our clear focus and disciplined capital allocation, we have a good foundation for continued profitable growth.

Stockholm, July 2026

Magnus Söderlind
President & CEO

For further information please contact:
Magnus Söderlind, President & CEO, Tel: +46 10 454 77 00
Peter Schön, CFO, Tel: +46 70 339 89 99

This information is information that Bergman & Beving is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-07-16 07:45 CEST.

Bergman & Beving, founded in 1906, is a Swedish listed group that acquires and develops leading companies with an eternal ownership horizon. The Group’s autonomous companies work in expansive niches where they provide value-adding solutions for industrial and construction clients. Each company operates with great freedom on the basis of a decentralized management model that has been creating growth, profitability and sustainable development for more than 100 years. Bergman & Beving is listed on Nasdaq Stockholm, has approximately 1,300 employees and a turnover of approximately SEK 5 billion. The Group consists of about 40 companies represented in more than 25 countries. Read more about our operations at bergmanbeving.com.