Slides
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18 August 2026 Alexander Rosenlew, CEO Saara Mäkelä, CFO Hanna Kukkonen, CMSO HALF - YEAR FINANCIAL REPORT J anuary – June 2026
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Content 1. Introduction to Orthex 2. January - June 2026 in brief 3. Strategy 4. Financials 5. Q&A HALF - YEAR FINANCIAL REPORT | JANUARY - JUNE 2026 | 18 AUGUST 2026
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A European houseware company with strong brands and sustainable products 8 sales organisations 3 factories (incl. warehouses) ~ 300 employees (FTE) Sustainability focus >90% own brands >40 customer countries HALF - YEAR FINANCIAL REPORT | JANUARY – JUNE 2026 | 18 AUGUST 2026
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1) Invoiced sales split by product category (LTM) Functional and award - winning design Long - lasting, high - quality products Benchmark in sustainability ~ 10% of sales from new launches Mission to create long - lasting solutions for an organised and enjoyable home KITCHEN ( 19 % of sales 1) ) HOME & GARDEN (11% of sales 1) ) STORAGE ( 70 % of sales 1) )
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JANUARY – JUNE 2026 IN BRIEF Half - year financial r eport January – June 2026
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CEO comments on Q2/2026 ▪ In the Nordics, where our market position and our brands are strong, business grew despite the necessary price increasing negotiations. ▪ In the Rest of Europe, several growth initiatives had to be temporarily paused while pricing discussions with customers were ongoing. ▪ Raw material prices started to increase rapidly in March due to higher oil prices. ▪ Decisive and rapid price increases implemented in response to higher raw material costs. ▪ Higher sales volumes and disciplined cost control helped to mitigate raw material cost increases. Strong sales growth in the Nordics Storage category driving the growth HALF - YEAR FINANCIAL REPORT | JANUARY – JUNE 2026 | 18 AUGUST 2026
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Q2 2026 Net sales and Invoiced sales ▪ Net sales increased by 5.2% to EUR 21.6 million compared to Q2 in the previous year (20.5) ▪ Invoiced sales growth in the Nordics 12.0% ▪ Invoiced sales decline in the Rest of Europe - 10.5% Adjusted EBITA ▪ Adjusted EBITA was EUR 1.4 million (1.7) ▪ Adjusted EBITA margin was 6.3% (8.4) Cash flows ▪ Net cash flows from operating activities were EUR 1.8 million ( - 0.8) HALF - YEAR FINANCIAL REPORT | JANUARY – JUNE 2026 | 18 AUGUST 2026
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• Orthex’s invoiced sales in the Nordics showed strong development and were EUR 17.8 million ( 15 .9). • Invoiced sales in the Rest of Europe declined by 10. 5 % and amounted to EUR 4.6 million (5.1). • Rest of the world invoiced sales were EUR 0.1 million (0.2) Invoiced sales by geography HALF - YEAR FINANCIAL REPORT | JANUARY – JUNE 2026 | 18 AUGUST 2026 • Orthex’s invoiced sales in the Nordics were EUR 34.9 million (33.2) and increased by 5.2%. • Invoiced sales in the Rest of Europe were EUR 9.6 million (9.5) • Invoiced sales in the Rest of the world totalled EUR 0.4 million (0.4) 33.2 9.5 0.4 34.9 9.6 0.4 0 5 10 15 20 25 30 35 40 Nordics Rest of Europe Rest of the world Invoiced sales by geography, EUR million 1-6/2025 1-6/2026 15.9 5.1 0.2 17.8 4.6 0.1 0 2 4 6 8 10 12 14 16 18 20 Nordics Rest of Europe Rest of the world Invoiced sales by geography quarterly, EUR million 4-6/2025 4-6/2026
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• Invoiced sales in the largest category Storage increased to EUR 14.6 million (13.5), up by 7.7% • Invoiced sales in the Kitchen category increased to EUR 4.6 million (4.4), up by 4.7%. • Invoiced sales in the Home & Garden category amounted to EUR 3.3 million (3.3). Invoiced sales by product category HALF - YEAR FINANCIAL REPORT | JANUARY - JUNE 2026 | 18 AUGUST 2026 • Invoiced sales in the largest category Storage increased by 8.1% to EUR 30.4 million (28.1). The increase was driven by good sales performance in the Nordics. • Invoiced sales in the Kitchen category amounted to EUR 8.4 million (8.5). The decline came from fewer seasonal campaigns. • Home & Garden invoiced sales decreased from EUR 6.5 million to EUR 6.2 million. One large Nordic customer decided to import flowerpots from Asia instead of buying locally. 13.5 4.4 3.3 14.6 4.6 3.3 0 2 4 6 8 10 12 14 16 Storage Kitchen Home & Garden Invoiced sales by product category quarterly, EUR million 4-6/2025 4-6/2026 28.1 8.5 6.5 30.4 8.4 6.2 0 5 10 15 20 25 30 35 Storage Kitchen Home & Garden Invoiced sales by product category, EUR million 1-6/2025 1-6/2026
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STRATEGY Half - year financial report January – June 2026
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G rowth strategy Maintain a high innovation rate Cost efficient, customer driven operations Build consumer preference Leading the way in sustainability Nordic Category Captain and Novelties Champion Grow with major European retailers Accelerated online growth Storage category leader in Europe and the benchmark for quality, practicality and sustainability in every home M&A as a growth tool HALF - YEAR FINANCIAL REPORT | JANUARY - JUNE 2026 | 18 AUGUST 2026
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France France France Build consumer preference HALF - YEAR FINANCIAL REPORT | JANUARY - JUNE 2026 | 18 AUGUST 2026
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Germany Sweden Estonia Build consumer preference HALF - YEAR FINANCIAL REPORT | JANUARY - JUNE 2026 | 18 AUGUST 2026
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Strategy in Action – Maintain a high innovation rate HALF - YEAR FIN ANCIAL REPORT | JANUARY – JUNE 2026 | 18 AUGUST 2026 Maintain a high Innovation rate
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Sustainability news during Q 1 - Q2 2026 Recognitions ▪ SmartStore Module storage solution was awarded with the “ Product Design 2026” award at the prestigious Red Dot Design Award competition in April and earlier with the “ Winner ” at the German Design Awards 2026. Reporting requirements ▪ Orthex Annual and Sustainability report 2025 was published in March. The report is available at Orthex Reports & Presentations - Orthex Group . ▪ T he company was exempt from the CSRD requirements due to its size. A new voluntary sustainability reporting standard applicable to companies out of scope of CSRD was issued in July 2026. Investments in novelties ▪ During the first half of 2026, we have launched the storage solution SmartStore Essence Stack . The Essence Stack baskets are stackable and made from recycled plastic in Sweden . Leading the way in sustainability
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FINANCIALS Half - year financial report January – June 2026
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Net sales quarterly and profitability ▪ In Q2 2026, the Group’s net sales increased by 5.2% to EUR 21.6 million (20.5). ▪ The increase in constant currency net sales was 4.3% compared to the second quarter of 2025. HALF - YEAR FINANCIAL REPORT | JANUARY – JUNE 2026 | 18 AUGUST 2026 ▪ Adjusted EBITA decreased to EUR 1.4 million (1.7). The adjusted EBITA margin decreased to 6.3% (8.4). ▪ Gross margin decreased 3.2 percentage points from 28.1% to 24.9%. ▪ Higher sales volumes and disciplined cost control helped mitigate the effects of increased raw material prices. 22.0 21.0 22.8 23.9 21.0 20.5 23.4 22.3 21.6 21.6 Q12024 Q22024 Q32024 Q42024 Q12025 Q22025 Q32025 Q42025 Q12026 Q22026 Net sales 1.1 mEUR 2.8 1.6 2.9 3.0 1.7 1.7 3.3 3.0 2.1 1.4 12.6% 7.4% 12.6% 12.7% 8.2% 8.4% 14.3% 13.6% 9.6% 6.3% Q12024 Q22024 Q32024 Q42024 Q12025 Q22025 Q32025 Q42025 Q12026 Q22026 Adjusted EBITA and adjusted EBITA margin Adjusted EBITA Adjusted EBITA (%) - 0.3 mEUR
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▪ Exceptional increase in raw material prices, with the peak reached in May ▪ Demand was weakening due to customers limiting purchases ▪ Supply stabilised ▪ Tensions in the Middle East continue to create uncertainty Development of raw material price indexes HALF - YEAR REPORT | JANUARY – JUNE 2026 | 18 AUGUST 2026 0 € 500 € 1 000 € 1 500 € 2 000 € 2 500 € Jan Feb March April May June July August September October November December Jan Feb March April May June July August September October November December Jan Feb March April May June July August September October November December Jan Feb March April May June July August September October November December Jan Feb March April May June 2022 2023 2024 2025 2026 Rawmaterial index prices Propylene (C3) Contract EUR/t ICIS 3rd LOW (PPC) EUR/t
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Investments & net debt ▪ I nvestments during the second quarter of 2026 amounted to EUR 0 .6 million and were related to moulds for new products, some capacity increases and fire safety improvements at the factories. ▪ Higher investment level compared to the previous year due to the timing of investments. ▪ N et debt declined by EUR 4 .3 million and was EUR 15. 8 million ( 20 .0). ▪ The non - current interest - bearing liabilities were EUR 21. 2 million (24.6) and total interest - bearing liabilities were EUR 26. 1 million ( 29 .1) at the end of June 2026. ▪ Leverage was at healthy 1.1x at the end of the period. HALF - YEAR FININANCIAL REPORT | JANUARY – JUNE 2026 | 18 AUGUST 2026 0.7 0.4 0.2 1.4 1.6 0.6 0,0 0,2 0,4 0,6 0,8 1,0 1,2 1,4 1,6 1,8 Q1 Q2 Q3 Q4 Investments in tangible and intangible assets, EUR million 2025 2026 2.4 2.0 1.4 1.5 1.3 1.6 1.3 1.4 1.2 1.4 1.0 1..1 1.0 1.1 - 0,5 1,0 1,5 2,0 2,5 3,0 - 5 10 15 20 25 30 35 40 45 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Net debt, EUR million & Leverage Net debt Leverage
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Long - term financial targets 18% <2.5x >50% Target “ An over time annual organic net sales growth to exceed 5 per cent on a Group level, and 10 per cent outside the Nordic region” “Improving EBITA margin (adjusted for items affecting comparability) exceeding 18 per cent over time” “Net debt to adj. EBITDA ratio below 2.5x. Leverage may temporarily exceed the target, for example, in conjunction with acquisitions” “To distribute a stable and over time increasing dividend with a pay - out of at least 50% of net profit on a bi - annual basis” Description Latest reported 4 .0% total 1. 8 % outside Nordics* 6.6% 1.1x SALES GROWTH PROFITABILITY LEVERAGE PAY - OUT RATIO Total growth of >5% Outside Nordics >10% 60. 3 % EUR 0 .23 per share (EUR 0.11 payment 8.10.2026) *Invoiced sales growth outside Nordics HALF - YEAR FINANCIAL REPORT | JANUARY – JUNE 2026 | 18 AUGUST 2026
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SUMMARY FULL FOCUS ON EUROPEAN SALES GROWTH UNPREDICTABLE CONDITIONS – CONSUMER CONFIDENCE RETURNING?
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Q&A www.investors.orthexgroup.com
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Reporting dates 2026 ▪ 5 November 2026 : Interim report January – September 2026 Orthex will publish its financial reports in 2026 according to the following schedule HALF - YEAR FINANCIAL REPORT | JANUARY - JUNE 2026 | 18 AUGUST 2026
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Key Figures HALF - YEAR FINANCIAL REPORT | JANUARY - JUNE 2026 | 18 AUGUST 2026
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Practical is Beautiful