Interim report
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Q3 INTERIM REPORT
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Interim report Third quarter 2026 1 January - 30 September 2026 • Net sales increased to SEK 383 (327) million. In unchanged currency, net sales increased by 14 per cent • Adjusted EBITA increased by 17 per cent to SEK 27 (23) million. • Adjusted EBITA margin improved to 7.1 (7.0) per cent. • Operating cash flow amounted to SEK -1.8 (16) million, corresponding to SEK -0.07 (0.63) per share. • Earnings per share amounted to SEK 0.68 (0.37). • The profitability measure P/WC increased to 38 (32) per cent and net debt ratio amounted to 2.3 (2.7) times. Financial summary Q3 2026 Q3 2025 Rolling 12 Full year 2025 Net sales, SEK million 382.7 327.3 1,453.1 1,433.7 Gross margin, % 26.0 26.8 26.9 26.7 Adjusted EBITA¹, SEK million 27.0 23.0 101.6 95.3 Adjusted EBITA¹ margin, % 7.1 7.0 7.0 6.6 EBITA, SEK million 27.2 23.9 104.3 108.8 EBITA margin, % 7.1 7.3 7.2 7.6 P/WC, % 38.2 31.6 30.7 Net debt ratio, times 2.3 2.7 2.5 Operating cash flow, SEK million -1.8 15.5 109.2 126.3 Profit for the period, SEK million 16.6 9.2 4.2 -11.2 Earnings per share, SEK 0.68 0.37 0.17 -0.46 Interim period January - September 2026 1) Adjustments correspond to unrealised exchange rate gains and losses, transaction costs and revaluation and reversal of contingent considerations. • Net sales amounted to SEK 1,084 (1,065) million. In unchanged currency, net sales increased by 3.5 per cent. • Adjusted EBITA increased by 8.8 per cent to SEK 78 (72) million. • Adjusted EBITA margin improved to 7.2 (6.7) per cent. • Operating cash flow amounted to SEK 50 (66) million, corresponding to SEK 2.02 (2.68) per share. • Earnings per share amounted to SEK 1.65 (1.02). Alcadon Group AB (publ) Q3 2026 2
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The positive profitability development in Alcadon Group continued in the third quarter, thanks to the subsidiaries’ dedicated efforts to broaden their offerings within digitalization of society. Investments in the rapidly growing data centre market segment are beginning to bear fruit and we see continued opportunities within this segment. We report organic sales growth again this quarter however with slightly lower gross margins. This is an active choice as particularly data centre businesses often are larger projects subject to greater price pressure. In parallel, several of our subsidiaries have now improved their positions within our focus model, where companies in the so-called ‘Green Zone’ (P/WC above 50 per cent) are encouraged to pursue volume growth whilst maintaining profitability, thus making larger business projects a prioritized focus area. Our most important financial targets – profitability as measured by P/WC, EBITA growth and EBITA margin – all continued to develop positively during the quarter. P/WC has improved to a record high of 38 per cent, and we have now delivered six consecutive quarters of increased profit with an EBITA growth of 17 per cent in the third quarter. Cash flow in the third quarter was on the other hand weaker than in the previous year, which is an expected development as sales growth returns. At the same time, several external factors continue to pose challenges in meeting market demand, particularly longer delivery times, which have led to increased stock levels within the subsidiaries to ensure deliveries to our customers. The net debt ratio remains unchanged from the previous quarter thanks to active efforts to both improve operating profit and optimise working capital, even during sales growth. All subsidiaries within the Alcadon Group are now making a positive contribution to our profitability, which is a satisfying milestone. The overall market climate for our distribution businesses remain complex: strong demand in the data centre market segment brings also positive impact to the related structured cabling market segment, whilst access to both raw materials and finished products remains challenging across several product groups. We are now seeing previously announced price increases come into effect; however, these have not yet contributed to cooling down the market demand to any significant extent. Our subsidiaries are working intensively to support their customers in ensuring delivery of the right products at the right time for their projects and investments. In the short to medium term, this may mean that safety stock levels need to increase additionally to meet customers’ high delivery expectations. At the same time the downturn in the broadband market segment appears to have levelled off somewhat during the quarter, and there may be signs of some improvement in the segment in the coming years, particularly in countries with lower penetration levels of fibre-based broadband to households. We continue to monitor developments to ensure that we are well-positioned when new roll-out projects are initiated. In parallel, our active efforts to broaden our customer offerings have reduced our dependency on broadband business. We continue our strategy of transitioning the Alcadon Group from being a group of network infrastructure distributors to owning and developing companies that in various ways contribute to the digitalisation of society. A key component in achieving our target of growing operating profit by at least 10 per cent annually is continued acquisitions of well-managed, entrepreneur-led companies with strong KPIs that are market leaders in their respective niches. We have therefore stepped up our proactive acquisition efforts, resulting in an increased number of discussions – a prerequisite for achieving our ambition of making one or two acquisitions annually. Future acquisitions may include both niched, stand-alone product companies with no or little connection to current distribution businesses, as well as be add-on acquisitions that broaden an existing offering. Overall, the third quarter of 2026 is yet another step in the right direction for Alcadon Group. With strong local engagement in our subsidiaries together with increasing global investments in the niche of digitalisation of society, we continue our relentless efforts to develop new business opportunities, both organically and through further acquisitions. CEO’s comments Continued profitability improvement and six consecutive quarters with increasing profit Fredrik Valentin President and CEO Alcadon Group AB Alcadon Group AB (publ) Q3 2026 3
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Financial targets Alcadon Group has four long-term financial targets: • Profitability - Alcadon Group shall achieve and maintain a profitability level (P/WC) of 50 per cent • Profit growth - Alcadon Group shall generate average profit growth of at least 10 per cent per year over time • Profit margin - Alcadon Group shall improve profit margin and strive for an EBITA margin of 10 per cent • Net debt ratio - Alcadon Group shall operate with a net debt ratio below 3 The table and graphs below show historical performance against financial targets, as well as selected key performance indicators. The data presented represents the officially reported outcome at each point in time. Reported indicators by quarter 2026 2025 2024 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Net sales, SEK million 382.7 355.9 345.4 369.2 346.0 377.5 403.6 389.0 390.4 Gross margin, % 26.0 27.1 26.9 27.4 26.8 26.1 25.2 25.7 24.4 Adjusted EBITA, SEK million 27.0 25.9 24.9 23.8 23.3 22.2 21.8 24.8 20.5 Adjusted EBITA margin, % 7.1 7.3 7.2 6.4 6.7 5.9 5.4 6.4 5.2 EBITA, SEK million 27.2 24.6 23.7 28.8 24.2 21.0 30.6 24.9 18.0 EBITA margin, % 7.1 6.9 6.9 7.8 7.0 5.6 7.6 6.4 4.6 P/WC*, % 38.2 36.0 33.2 30.7 28.4 27.1 29.6 31.4 31.8 Net debt ratio*, times 2.3 2.3 2.3 2.5 3.0 2.9 2.9 2.8 2.9 Operating cash flow, SEK million -1.8 19.9 30.1 61.1 15.5 41.5 10.7 38.9 14.4 Number of employees at the end of the period 176 180 174 177 189 185 185 189 190 Adjusted EBITA and margin per quarter Operating cash flow R12 and P/WC per quarter * Restated in accordance with new definition for comparability. Underlying financial data as previously reported. 21 25 22 22 23 24 25 26 27 0% 2% 4% 6% 8% 10% 0 5 10 15 20 25 30 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 SEK MILLION Adjusted EBITA Adjusted EBITA-margin 129 126 125 106 107 129 148 127 109 0% 10% 20% 30% 40% 50% 60% 0 20 40 60 80 100 120 140 160 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 SEK MILLION Operating cash flow R12 P/WC* Alcadon Group AB (publ) Q3 2026 4
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Networks Centre Group (UK / Netherlands) Growth in local currency amounted to -13 per cent for the quarter compared with the previous year and -3.7 per cent compared with the previous quarter. The main reason is still the sharp slowdown in broadband roll-out in the beginning of the year, from which sales have not yet been fully offset by businesses in other segments. We are partly restructuring Networks Centre in terms of competence and business offering to adapt to new opportunities, where opportunities towards data centres for AI and cloud computing look particularly promising. During this process we put even greater focus on efficient working capital and inventory management. Alcadon Sweden Growth amounted to 27 per cent for the quarter compared with the previous year and -13 per cent compared with the previous quarter, marking yet another very strong quarter for Sweden, given that July is historically a weak month. We continue to see positive trends across all business areas, including broadband. There has been a slight increase in larger data centre projects, putting some pressure on gross margins, but this is in line with our focus model of prioritising growth whilst ensuring that working capital and profitability remain well under control. Wood Communications Growth in local currency amounted to 55 per cent during the quarter compared with the previous year and 20 per cent compared with the previous quarter. Wood Communications continues to deliver yet another strong quarter, although with some pressure on gross margins due to several larger data centre projects being delivered during the quarter. As in Sweden, we encourage Wood to continue developing its offering and to seek new business opportunities as the working capital is well under control. Alcadon Belgium Growth in local currency amounted to 92 per cent during the quarter compared with the previous year and 30 per cent compared with the previous quarter. We see a resumption of the broadband roll-out in Belgium but we nevertheless continue to develop the additional revenue streams that have been built up over the past year whilst broadband roll-out has been virtually at a standstill. The growth in sales has brought both further investment in working capital in Belgium as well as some delivery challenges due to the long lead times the market is currently experiencing. With continued good cost control and now volume growth, Belgium is performing well and has undergone a significant profitability improvement in our focus model. Alcadon Denmark Growth in local currency amounted to 1.4 per cent during the quarter compared with the previous year and 21 per cent compared with the previous quarter. The positive trend of quarterly sales increases continues in both existing and new business segments. A new, efficient organisation with good control over working capital and margins supports the development of profitability along with sales growth. Norway (Alcadon and Networks Centre) Growth in local currency amounted to 89 per cent during the quarter compared with the previous year and 68 per cent compared with the previous quarter. We are now beginning to see the effects of the major restructuring of our operations in Norway, which has been ongoing for over a year, with the increased focus on data centres delivering results. The data centre investments being made in Norway are substantial, and we are increasing our efforts to capitalise on these initiatives. A higher proportion of larger data centre projects may going forward lead to both pressure on margins and increased revenue volatility. We are therefore simultaneously focusing on increasing revenues also from other market segments, where business is of a more recurring nature with slightly higher gross margins. As in Belgium, our investments in working capital are increasing as the business grows; consequently, a key focus going forward will be to continue ensuring a good balance between operating profit and capital tied up. A-Antennas A-Antennas was acquired on 1 June and is making a positive contribution to the Group’s profitability during its first full quarter as part of the Alcadon Group. The business is largely project-based with relatively long sales cycles, and we are now working intensively to secure projects for the coming months and quarters, as well as investing in both increased long-term sales capacity and product development. Alcadon Group’s business concept is to acquire and then carefully support and develop well-managed, entrepreneur-led businesses that are allowed to retain their name, strategy and management, whilst at the same time joining a community of like-minded companies, all of which operate in the niche of the digitalisation of society. The subsidiaries’ mission is to do their utmost every day to help their customers and suppliers achieve long-term, sustainable and profitable solutions within network and data communications. Alcadon Group Subsidiaries Development per subsidiary Alcadon Group AB (publ) Q3 2026 5
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Financial information Alcadon Group AB (publ) Q3 2026 6
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REVENUE, EXPENSES AND PROFIT The quarter Net revenue increased by 17 per cent to SEK 383 (327) million. In unchanged currency, revenue increased by 14 per cent of which 2.9 per cent is acquired. The gross margin amounted to 26.0 (26.8) per cent. Operating expenses and cost of goods sold amounted to SEK -350 (-301) million, an increase of 16 per cent. Operating expenses amounted to SEK -67 (-61) million, an increase of 9.5 per cent. Adjusted EBITA increased by 17 per cent to SEK 27 (23) million. The adjustments of SEK -0.2 (-0.9) million relate to SEK -0.5 (0.3) million attributable to unrealised exchange rate gains and losses and SEK 0.3 (-1.2) million attributable to revaluation and reversal of contingent considerations. EBITA increased by 14 per cent to SEK 27 (24) million. Amortisation of acquired customer relationships amounted to SEK -4.7 (-4.5) million. Profit from discontinued operations amounted to SEK -0.1 (-0.7) million and profit from continuing operations amounted to SEK 17 (9.9) million for the quarter. Profit for the quarter amounted to SEK 17 (9.2) million. January - September Net revenue increased by 1.8 per cent to SEK 1,084 (1,065) million. In unchanged currency, revenue increased by 3.5 per cent of which 1.3 per cent is acquired. The gross margin increased to 26.7 (26.5) per cent. Operating expenses and cost of goods sold amounted to SEK -994 (-978) million, an increase of 1.6 per cent. Operating expenses amounted to SEK -199 (-196) million, an increase of 1.5 per cent. Adjusted EBITA increased by 8.8 per cent to SEK 78 (72) million. The adjustments of SEK 2.3 (-8.5) million relate to SEK 1.6 (-0.7) million attributable to unrealised exchange rate gains and losses, SEK 0.3 (0.0) million in transaction costs and SEK 0.4 (-7.8) million attributable to revaluation and reversal of contingent considerations. EBITA decreased by -5.6 per cent to SEK 75 (80) million, primarily related to differences in reversal of contingent considerations. Amortisation of acquired customer relationships amounted to SEK -13 (-13) million. Profit from discontinued operations amounted to SEK 4.1 (-7.6) million and profit from continuing operations amounted to SEK 36 (33) million. Profit for the period amounted to SEK 40 (25) million. CASH FLOW, INVESTMENTS AND LIQUID ASSETS The quarter Cash flow from operating activities amounted to SEK -1.8 (16) million. Cash flow from changes in working capital amounted to SEK -42 (-13) million during the quarter. Cash flow from investing activities amounted to SEK 5.8 (-20) million of which SEK 0.0 (-19) million related to operational acquisitions. Cash flow from financing activities amounted to SEK -10 (-12) million, of which SEK -2.5 (-2.5) million relates to amortisation of bank loans. January - September Cash flow from operating activities amounted to SEK 50 (66) million. Cash flow from changes in working capital amounted to SEK -56 (-0.4) million during the period. Cash flow from investing activities amounted to SEK -30 (-22) million of which SEK -32 (-19) million related to operational acquisitions. Cash flow from financing activities amounted to SEK -32 (-62) million, of which SEK -7.6 (-12) million relates to amortisation of bank loans. At the end of the quarter, the Group’s cash and cash equivalents amounted to SEK 55 (38) million. The overdraft facility granted by SEB amounted to SEK 80 (80) million, of which SEK 80 (80) million was undrawn at the end of the period. The parent company has unsecured financing with SEB. The parent company has no contingent liabilities or pledged assets. EXCHANGE RATE DIFFERENCES The quarter Operating exchange rate differences for the quarter amounted to SEK 0.2 (0.9) million, of which SEK -0.3 (1.2) million is attributable to revaluation of contingent considerations. Unrealised exchange rate differences on internal loans are reported in net financial items and amounted to SEK 3.5 (-1.4) million during the quarter. Exchange rate differences on the translation of foreign operations are reported in other comprehensive income. The translation effect for the quarter amounted to SEK 23 (-18) million. The translation effect is primarily attributable to changes in the Swedish krona against the GBP, EUR and DKK. January - September Operating exchange rate differences amounted to SEK -2.0 (5.2) million, of which SEK -0.4 (4.6) million is attributable to revaluation of contingent considerations. Unrealised exchange rate differences on internal loans are reported in net financial items and amounted to SEK 5.3 (-5.6) million during the period. Alcadon Group AB (publ) Q3 2026 7
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Exchange rate differences on the translation of foreign operations are reported in other comprehensive income. The translation effect for the period amounted to SEK 49 (-61) million. The translation effect is primarily attributable to changes in the Swedish krona against the GBP, EUR and DKK. INTEREST EXPENSES Interest expenses for the quarter amounted to SEK -3.6 (-4.4) million. Of the interest expense, SEK -0.4 (-0.3) million relates to a non-cash discounting effect attributable to the provision for contingent considerations for acquisitions, as well as SEK -0.3 (-0.4) million in interest expenses on right-of-use assets. Interest expenses for the first nine months of the year amounted to SEK -11 (-14) million. Of the interest expense, SEK -1.2 (-1.4) million relates to a non-cash discounting effect attributable to the provision for contingent considerations for acquisitions, as well as SEK -1.0 (-1.2) million in interest expenses on right-of-use assets. PERSONNEL The number of employees at the end of the quarter was 176 (189) and the average number of employees during the quarter was 176 (189). The average number of employees during the first nine months of the year was 176 (187). THE PARENT COMPANY The operations of the parent company, company registration number 559009–2382, comprise group management, finance and IR/PR. Profit after financial items for the quarter amounted to SEK -9.7 (-0.4) million and for the period SEK -22 (-1.4) million. At the end of the quarter, cash and cash equivalents amounted to SEK 25 (12) million. The overdraft facility granted by SEB amounted to SEK 80 (80) million, of which SEK 80 (80) million was undrawn at the end of the period. TRANSACTIONS WITH RELATED PARTIES During the period, the Group, through Alcadon Group AB, had transactions amounting to SEK -0.5 (-0.7) million with Paseca AB, which is owned by the Chairman of the Board, Pierre Fors. The transactions relate to consultancy services. All transactions are considered to be on commercial terms and based on market conditions. No other transactions with related parties have taken place during the period. FINANCIAL CALENDAR Year-end report 24 February 2027 at 8:00 Annual report 2026 8 April 2027 at 8:00 Q1 Interim report 2027 4 May 2027 at 8:00 Annual General Meeting 2027 13 May 2027 at 10:00 SHARE INFORMATION Alcadon Group AB’s shares have been listed on Nasdaq First North since 14 September 2016. As at 30 September 2026, the number of shares amounted to 24,511,026. Companies listed on Nasdaq First North are required to have a Certified Adviser, whose duties include exercising certain supervisory functions. Alcadon Group’s Certified Adviser is Svensk Kapitalmarknadsgranskning AB (SKMG). The share price at the end of the period was SEK 30.10 (30 September 2026) • Company name: Alcadon Group AB • Ticker symbol: ALCA • Number of shares: 24,511,026 • ISIN: SE0008732218 GOODWILL Goodwill is tested on an ongoing basis to identify any indicators of impairment and is recognised at cost less accumulated impairment losses. The impairment tests carried out at the end of the year showed no need for impairment. Goodwill amounted to SEK 810 (762) million as at 30 September 2026. Goodwill, SEK million Cash-generating unit Country 30 September 2026 30 September 2025 31 December 2025 Alcadon AB Sweden 224.7 224.7 224.7 Alcadon AS Norway 64.4 64.4 64.4 Alcadon ApS Denmark 28.9 47.0 27.6 Alcadon BV Belgium 7.7 7.5 7.3 Networks Centre Ltd. The United Kingdom 350.3 334.4 328.0 Wood Communications Ireland 86.4 84.3 82.5 A-Antennas AB Sweden 47.6 - - 810.0 762.4 734.7 Alcadon Group AB (publ) Q3 2026 8
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LOANS & CREDIT On 25 June 2025, Alcadon entered into an unsecured credit agreement (a “multicurrency revolving credit facility”) and a bank loan (a “term loan”) with its existing relationship bank, SEB. The credit facilities amount to a total of SEK 525 million with an additional option (“accordion facility”) for a further SEK 150 million. In total, the Group’s bank financing amounts to SEK 303 (313) million as at 30 September 2026, of which SEK 10 (10) million is recognised as a current liability under Current liabilities to credit institutions, SEK 293 (303) million is recognised as non-current under Liabilities to credit institutions, and SEK 0.0 (0.0) million relates to utilised overdraft facilities. The current liability of SEK 10 (10) million relates to the annual repayment schedule for the loans with SEB. The overdraft facility granted by SEB amounts to SEK 80 (80) million, of which SEK 80 (80) million was undrawn at the end of the period. Terms in brief • Term loan, SEK 100 million, straight-line amortisation over 10 years, SEB base rate 3M + 1.25–2.10 percentage points depending on net debt ratio. • Term loan, SEK 50 million, interest-only, SEB base rate 3M + 1.25–2.10 percentage points depending on net debt ratio. • Revolving credit facility (“RCF”) SEK 295 million, interest on utilised portion is SEB reference rate 3M + 1.25–2.10 percentage points depending on net debt ratio, 0.35 per cent on the undrawn amount. As at 30 September 2026, SEK 165 million had been utilised. • Overdraft facility of SEK 80 million, SEB base rate + 1.2 percentage points, 0.4 per cent annual credit fee. The company reports covenants linked to: 1. Net debt ratio, Net debt/EBITDA R12 <3.25, 2. Interest coverage ratio, EBITDA R12/Net financial items R12 >3 The net debt ratio linked to covenants is calculated excluding lease liabilities and including lease expenses attributable to operating leases. EBITDA R12 is calculated including acquired EBITDA as if the acquired company had been part of the Group for 12 months. In the event of any acquisitions, this key figure may exceed 3.5 for the next three quarters. The interest coverage ratio is calculated in accordance with IFRS. EBITDA R12 is calculated including acquired EBITDA as if the acquired company had been part of the Group for 12 months. RISKS AND UNCERTAINTIES The risks and uncertainties affecting the Alcadon Group are described in the annual report and on the company’s website, www.alcadongroup.se. No further significant changes have occurred that would necessitate an amendment to these descriptions. OWNERSHIP The 20 largest shareholders in the Alcadon Group as at 30 September 2026 (source: Monitor, Modular Finance). Name Holding, no. Holding, % Investment AB Spiltan 5,884,686 24.0% Ribbskottet Aktiebolag 2,500,000 10.2% Andra AP-fonden 2,126,187 8.7% Jeansson, Theodor 2,100,000 8.6% Swedbank Robur Fonder 774,489 3.2% Susanne Stengade Holding ApS 731,780 3.0% Avanza Pension 597,473 2.4% Consensus Asset Management 569,353 2.3% Mahony, Keith 564,355 2.3% Evli Fund Management 447,787 1.8% Fore C Investments 380,000 1.6% Lindsay, Duncan 317,088 1.3% Lindsay, Natalie 314,389 1.3% Nordnet Pensionsförsäkring 252,643 1.0% Hajskäret Invest AB 208,459 0.9% Mårtensson, Jonas 208,092 0.8% Reid, James 202,621 0.8% Finlay, Derek 169,306 0.7% Furulund, Roy W. 167,886 0.7% Jeansson, Kristoffer 150,000 0.6% Total top 20 18,666,594 76.2% Others 5,844,432 23.8% Total 24,511,026 100.0% ACCOUNTING PRINCIPLES & NOTES See pages 15-17 for accounting principles and notes. DISPUTES At the end of the period, the Group had no significant ongoing disputes. Alcadon Group AB (publ) Q3 2026 9
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WARRANTS In accordance with resolutions passed at the General Meetings in 2024–2026, employees have subscribed for warrants under four incentive schemes. The warrants have been subscribed for at their current market value, calculated using the Black-Scholes model. Each warrant entitles the holder to subscribe for one new share in Alcadon Group. Upon full exercise of the warrants, up to 636,500 shares may be issued, corresponding to a dilution of approximately 2.6 per cent based on the company’s 24,511,026 shares. The average price of ordinary shares during January to September 2026 for the 2025/2028 incentive programme has exceeded the subscription price of the warrants, whereupon the shares therein (112,500 shares) are included in the calculation of the number of shares after dilution in financial tables. The other three incentive programmes, whose subscription price exceeds the average price, are not included in the calculation. For further information regarding the programmes, see the company’s website www.alcadongroup.se/investerare/ bolagsstammor/. Warrants Closing values 2024/2027 2024/2028 2025/2028 2026/2029 Number of warrants 74,000 200,000 112,500 250,000 Participants 13 1 10 22 Allocation date 13 May 2024 8 July 2024 14 May 2025 13 May 2026 Redeemable from/to 2 November 2026 1 May 2028 1 January 2028 1 January 2029 13 August 2027 31 May 2028 13 May 2028 31 May 2029 Share price at the time of allocation, SEK 34.8 36.0 16.5 34.5 Subscription price, SEK 47.5 50.7 24.0 44.0 Fair value per warrant at the time of allocation, SEK 6.21 5.97 3.00 6.65 Maximum dilution, % 0.3 0.8 0.5 1.0 OTHER IMPORTANT INFORMATION Certain financial and other information presented in the report has been rounded to make the information more accessible to the reader. This may mean that the figures in certain columns do not add up exactly to the stated total. The English version is a translation of the official version in Swedish. In the event of any conflict between the Swedish and English version, the Swedish shall prevail. Significant events after the end of the period No significant events have occurred after the end of the period. Disclosure This information is information that Alcadon Group AB is required to disclose under the EU Market Abuse Regulation. The information was submitted for publication, through the below contact person, on 4 November 2026 at 08:00. Contact Fredrik Valentin, CEO Adam Jonsson, CFO +46 70 282 34 12 +46 73 820 00 58 fva@alcadon.com ajo@alcadon.com Visit www.alcadongroup.se to download reports, presentations and press releases. Alcadon Group AB (publ) Q3 2026 10
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ALCADON GROUP CONSOLIDATED Quarter 3 January - September Full year Summary of income statement, SEK million 2026 2025 2026 2025 2025 INCOME STATEMENT Net sales, Note 2 382.7 327.3 1,084.0 1,064.5 1,433.7 Other operating income 0.6 3.4 2.0 11.7 16.6 Total income 383.3 330.7 1,085.9 1,076.2 1,450.3 Operating expense -350.5 -300.9 -993.7 -978.3 -1,317.4 Operating profit before depreciation and amortisation 32.8 29.8 92.3 97.9 132.9 Depreciation of tangible assets -5.6 -5.8 -16.8 -17.9 -24.2 Operating profit before amortisation of intangible assets 27.2 23.9 75.5 80.0 108.8 Amortisation of intangible assets -4.9 -4.9 -13.8 -15.1 -19.7 Operating profit 22.4 19.1 61.7 64.9 89.1 Net financial items -4.2 -5.7 -17.3 -18.3 -23.2 Profit after financial items 18.1 13.3 44.4 46.6 65.9 Tax on profit for the year -1.5 -3.5 -8.1 -14.0 -17.7 Profit from continuing operations 16.6 9.9 36.3 32.6 48.2 Profit from discontinued operations, Note 3 -0.1 -0.7 4.1 -7.6 -59.3 Profit for the period 16.6 9.2 40.4 25.0 -11.2 Attributable to: Non-controlling interests - - - - - Parent company shareholders 16.6 9.2 40.4 25.0 -11.2 Profit for the period 16.6 9.2 40.4 25.0 -11.2 Other comprehensive income Translation difference for the period on translation of foreign subsidiaries 22.7 -18.0 48.8 -61.1 -78.0 Total comprehensive income for the period 39.3 -8.8 89.1 -36.1 -89.1 Total comprehensive income for the period attributable to: Non-controlling interests - - - - - Parent company shareholders 39.3 -8.8 89.1 -36.1 -89.1 DATA PER SHARE Number of shares Number of shares at the end of the period, pcs 24,511,026 24,511,026 24,511,026 24,511,026 24,511,026 Average number of shares, pcs 24,511,026 24,511,026 24,511,026 24,511,026 24,511,026 Number of shares (after dilution), pcs 24,623,526 24,511,026 24,623,526 24,511,026 24,511,026 Earnings per share Earnings per share for the period based on average number of shares, SEK 0.68 0.37 1.65 1.02 -0.46 Earnings per share for the period (after dilution), SEK 0.67 0.37 1.64 1.02 -0.46 Earnings per share from continuing operations based on average number of shares, SEK 0.68 0.40 1.48 1.33 1.96 Earnings per share from continuing operations (after dilution), SEK 0.68 0.40 1.47 1.33 1.96 Equity per share Equity per share at end of period, SEK 35.0 33.5 35.0 33.5 31.3 Alcadon Group AB (publ) Q3 2026 11
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ALCADON GROUP CONSOLIDATED Summary of financial position, SEK million 2026-09-30 2025-09-30 2025-12-31 BALANCE SHEET Fixed assets Goodwill 810.0 762.4 734.7 Other intangible fixed assets 124.1 127.3 120.1 Tangible fixed assets 63.2 79.5 73.1 Financial fixed assets 1.8 8.9 8.8 Total fixed assets 999.1 978.1 936.6 Current assets Inventories 267.0 249.2 221.1 Accounts receivable 265.5 253.8 256.2 Other current assets 64.9 38.5 31.7 Cash and bank 55.0 38.2 66.0 Total current assets 652.4 579.7 575.0 TOTAL ASSETS 1,651.6 1,557.8 1,511.6 Equity Share capital 1.2 1.2 1.2 Other contributed capital 505.1 503.2 503.2 Retained earnings including profit for the period 352.0 315.7 262.8 Equity attributable to the parent company's shareholders 858.2 820.1 767.3 Non-controlling interests - - - Total equity 858.2 820.1 767.3 Provisions Other provisions, Note 4 49.4 42.8 18.9 Total provisions 49.4 42.8 18.9 Non-current liabilities Deferred tax liability 27.9 29.0 26.7 Liabilities to credit institutions 292.5 302.5 300.0 Other long-term liabilities 30.7 44.8 39.4 Total long-term liabilities 351.1 376.2 366.2 Current liabilities Bank overdraft - - - Short-term liabilities to credit institutions 10.0 10.1 10.1 Other interest-bearing liabilities 18.3 19.3 19.1 Accounts payable 236.1 202.8 230.8 Other current liabilities 128.4 86.6 99.3 Total current liabilities 392.8 318.7 359.3 TOTAL EQUITY AND LIABILITIES 1,651.6 1,557.8 1,511.6 Alcadon Group AB (publ) Q3 2026 12
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ALCADON GROUP CONSOLIDATED Quarter 3 January - September Full year Summary of changes in equity, SEK million 2026 2025 2026 2025 2025 Equity at the beginning of the period 818.9 829.3 767.3 856.2 856.2 Other changes in equity 0.0 -0.4 0.1 -0.4 -0.2 Other contributed capital - - 1.7 0.3 0.3 Total comprehensive income for the period attributable to shareholders of the parent company 39.3 -8.8 89.1 -36.1 -89.1 Equity at the end of the period 858.2 820.1 858.2 820.1 767.3 ALCADON GROUP CONSOLIDATED Quarter 3 January - September Full year Consolidated cash flow summary, SEK million 2026 2025 2026 2025 2025 Operating profit 22.4 19.1 61.7 64.9 89.1 Adjustments not included in cash flow, etc. 18.2 4.1 42.3 9.3 12.3 Income tax paid 0.3 -2.0 -6.2 -14.7 -21.5 Change in working capital -42.0 -13.3 -56.1 -0.4 41.2 Discontinued operations -0.7 7.7 7.9 6.5 5.3 Net cash flow from operating activities -1.8 15.5 49.6 65.6 126.3 Acquisition of tangible and intangible fixed assets -1.8 -0.6 -4.9 -1.6 -1.7 Change in financial fixed assets 7.5 -0.1 6.9 -0.9 -0.8 Operating acquisitions - -19.1 -32.0 -19.1 -38.1 Discontinued operations 0.1 0.0 0.1 0.0 0.0 Cash flow from investing activities 5.8 -19.8 -29.9 -21.6 -40.6 Dividends paid - - - - - New issue/Payment of subscription rights - - 1.7 0.4 0.4 Interest paid and received and other financial items -3.0 -4.1 -11.0 -14.8 -21.4 Amortisation of lease liabilities -4.5 -5.5 -15.1 -13.9 -18.8 Amortisation -2.5 -2.5 -7.6 -12.4 -14.9 Change in loans/Use of overdraft facilities -0.6 7.4 8.1 -14.7 -15.4 Discontinued operations 0.5 -7.8 -8.1 -6.5 -5.3 Cash flow from financing activities -10.1 -12.4 -32.0 -62.0 -75.5 Cash flow for the period -6.0 -16.7 -12.3 -18.0 10.2 Reconciliation of changes in cash and cash equivalents Opening balance of cash and cash equivalents 60.2 55.4 66.0 57.9 57.9 Exchange rate differences in cash and cash equivalents 0.8 -0.4 1.2 -1.7 -2.1 Closing balance, cash and cash equivalents 55.0 38.2 55.0 38.2 66.0 Change in cash and cash equivalents -6.0 -16.7 -12.3 -18.0 10.3 Alcadon Group AB (publ) Q3 2026 13
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PARENT COMPANY ALCADON GROUP AB Summary of financial position, SEK million 2026-09-30 2025-09-30 2025-12-31 BALANCE SHEET Fixed assets Intangible fixed assets 0.4 0.2 0.2 Tangible fixed assets 0.1 - - Financial fixed assets 962.7 916.6 900.2 Long-term receivables from Group companies 213.8 277.2 211.7 Total fixed assets 1,177.0 1,194.0 1,112.0 Current assets Receivables from Group companies 2.0 5.7 5.7 Other current assets 10.3 7.4 3.1 Cash and bank 25.3 12.0 42.1 Total current assets 37.6 25.2 51.0 TOTAL ASSETS 1,214.6 1,219.2 1,163.0 Equity Share capital 1.2 1.2 1.2 Retained earnings including profit for the period 462.1 535.8 476.6 Total equity 463.3 537.0 477.8 Provisions Other provisions 45.0 42.5 18.9 Total provisions 45.0 42.5 18.9 Non-current liabilities Other loans 292.5 302.5 300.0 Liabilities to Group companies 23.8 47.3 23.8 Total non-current liabilities 316.3 349.8 323.8 Current account overdraft - - - Short-term interest-bearing liabilities 10.0 10.0 10.0 Liabilities to Group companies 373.0 269.3 321.0 Current liabilities 7.0 10.6 11.5 Total current liabilities 390.0 289.9 342.5 TOTAL EQUITY AND LIABILITIES 1,214.6 1,219.2 1,163.0 PARENT COMPANY ALCADON GROUP AB Quarter 3 January - September Full year Summary report of results, SEK million 2026 2025 2026 2025 2025 INCOME STATEMENT Net sales 2.8 4.6 8.7 11.0 14.4 Other operating income - 1.2 - 7.8 5.0 Total income 2.8 5.8 8.7 18.9 19.4 Operating expenses -6.4 -4.6 -17.2 -14.7 -19.5 Operating profit -3.6 1.2 -8.5 4.2 -0.1 Net financial items -6.1 -1.7 -13.2 -5.6 -70.9 Profit after financial items -9.7 -0.4 -21.7 -1.4 -71.0 Appropriations - - - - 23.5 Profit before tax -9.7 -0.4 -21.7 -1.4 -47.5 Tax on profit for the year 2.9 0.0 5.6 -0.4 -4.7 Profit for the period -6.8 -0.4 -16.1 -1.8 -52.2 Alcadon Group AB (publ) Q3 2026 14
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NOTE 1. ACCOUNTING POLICIES The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) and the interpretations of the IFRS Interpretations Committee as adopted by the EU. Furthermore, the recommendation from the Swedish Financial Reporting Board, RFR 1, regarding supplementary accounting rules for groups has been applied. This interim report has been prepared for the Group in accordance with the Annual Accounts Act (ÅRL) and IAS 34 Interim Financial Reporting, and for the parent company in accordance with the Annual Accounts Act and the Swedish Financial Reporting Board’s recommendation RFR 2, Accounting for Legal Entities. The same accounting policies and calculation methods have been applied to the Group and the parent company as in the most recent annual report, except for new standards and interpretations, as well as amendments to existing standards and interpretations, which are effective from 1 January 2026 or later. IFRS 16 Leases Alcadon Group applies IFRS 16 Leases. As Alcadon Group is the lessee, the right-of-use assets are reported as a right of use in the statement of financial position, while the future obligation to the lessor is reported as a liability in the statement of financial position. The Group leases office and warehouse premises as well as cars. Short-term leases and leases of low-value assets are not included as these are expensed directly. Closing values in the balance sheet as of 30 September 2026: • Right-of-use assets: SEK 54 (67) million, reported under Tangible fixed assets • Lease liabilities: SEK 49 (64) million, reported as SEK 31 (45) million in other long-term liabilities and SEK 18 (19) million in other interest-bearing liabilities Other IFRS 18 Presentation and Disclosure in Financial Statements applicable for financial years beginning on or after 1 January 2027. The standard will replace IAS 1 Presentation of Financial Statements and introduce new requirements that will contribute to achieving comparability in the reporting of results for similar companies and provide users with more relevant information and transparency. IFRS 18 will not affect the reporting or valuation of items in the financial statements, i.e. it will have no effect on net profit. A complete analysis of the consequences of applying the new standard has not yet been finalised. None of the other IFRS or IFRIC interpretations that have not yet come into effect are expected to have any material impact on the Group’s financial statements. The 2025 Annual Report summarises the significant accounting policies. See the company’s website, www.alcadongroup.se, for more information. NOTE 2. NET SALES Alcadon is primarily engaged in the sale of goods, which accounts for more than 99 per cent of net sales. Sales take place in various regions and revenue from sales is recognised in the income statement when control has been transferred to the customer. Furthermore, the Group provides services in the form of technical support and service agreements. Technical support is considered to constitute separate performance obligations, with revenue recognised over time. Service agreements are recognised on a straight-line basis over the term of the agreement. See the table below for net revenue by region. Quarter 3 January - September Full year External net sales per company and region 2026 2025 2026 2025 2025 Networks Centre Group 147.6 168.2 449.2 520.2 679.3 NWC UK 132.9 150.7 403.6 463.9 611.7 NWC Netherlands 14.8 17.6 45.5 56.4 67.6 Alcadon Sweden 85.8 67.6 276.3 237.3 332.3 Alcadon Denmark 28.6 28.4 72.4 83.1 127.8 Wood Communications (Ireland) 45.9 29.7 129.7 91.8 123.1 Alcadon Belgium 30.6 16.0 69.3 66.1 87.2 Alcadon Norway 34.8 17.3 73.5 66.0 84.0 A-Antennas Sweden 9.4 - 13.5 - - Total 382.7 327.3 1,084.0 1,064.5 1,433.7 Alcadon Group AB (publ) Q3 2026 15
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NOTE 3. DISCONTINUED OPERATIONS In December 2025, Alcadon Group decided to discontinue the operational activities of Alcadon GmbH (Germany). Alcadon Group’s statement of comprehensive income for the current and comparative periods reflects the division into continuing and discontinued operations. The cash flow statement for the current and comparative periods shows the cash flow for the entire Group as well as additional information on cash flow from discontinued operations. The Group’s balance sheets as at 30 September 2026 include items from discontinued operations, and comparative periods have not been restated. The amounts relating to continuing and discontinued operations in the Group’s financial statements are presented after the elimination of intra-Group items. Profit from discontinued operations for the quarter amounts to SEK -0.1 (-0.7) million and SEK 4.1 (-7.6) million for the period. NOTE 4. CONTINGENT CONSIDERATIONS Quarter 3 January - September Full year SEK million 2026 2025 2026 2025 2025 Contingent considerations at beginning of period 48.7 62.7 18.9 67.8 67.8 New contingent considerations - - 28.9 - - Reversed contingent considerations 0.4 0.3 1.2 -1.8 -5.9 Currency differences 0.3 -1.2 0.4 -4.1 -4.9 Payments - -19.1 - -19.1 -38.1 Contingent considerations at end of period 49.4 42.8 49.4 42.8 18.9 Contingent considerations as of 30 September 2026 refer to the contingent considerations for the acquisition of Wood Communications and A-Antennas of SEK 49 million. The contingent considerations for the acquisition of Wood Communications of SEK 20 million (EUR 1.8 million) relate to the discounted value of the remaining contingent considerations of EUR 1.8 million. This corresponds to SEK 21 million calculated at the closing date exchange rate. The contingent considerations for the acquisition of A-Antennas of SEK 29 million relate to the discounted value of the remaining contingent considerations of SEK 35 million. The difference between the discounted values in the balance sheet and the remaining recognised contingent considerations of SEK -6.1 million is recognised as an interest expense in net financial items until the possible payment date for the contingent considerations. The interest expense for the quarter amounted to SEK -0.4 (-0.3) million. Alcadon Group AB (publ) Q3 2026 16
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NOTE 5. OPERATING ACQUISITIONS On 1 June 2026, Alcadon Group acquired all shares in A-Antennas AB. A-Antennas is a leading company in the design and development of antennas for wireless data transmission in outdoor environments and has an annual turnover of approximately SEK 50 million. Alcadon Group normally uses an acquisition model comprising a base purchase price and a contingent purchase price. The outcome of contingent consideration payments depends on the future performance of the acquired companies. Goodwill is based on the expected future sales growth and profitability of the acquired companies. Preliminary acquisition analysis for A-Antennas AB: SEK million Fair value of acquired assets and liabilities Total Customer relationships 7.0 Other fixed assets 0.7 Other assets 16.3 Deferred tax liabilities, net -1.4 Other current liabilities -5.2 Acquired net assets 17.4 Goodwill 47.6 Purchase price 65.0 Less: Unpaid purchase price -29.0 Less: Acquired cash and cash equivalents -4.0 Cashflow from acquisitions -32.0 Acquisition-related transaction costs, which are recognised under ‘Other operating expenses’ in the income statement, amounted to SEK 0.3 million in the second quarter. Alcadon Group AB (publ) Q3 2026 17
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The Board of Directors and the Chief Executive Officer certify that the interim report provides a true and fair view of the parent company’s and the Group’s financial position and results, and provides a true and fair overview of the development of the parent company’s and the Group’s operations, and describes the significant risks and uncertainties facing the parent company and the companies included in the Group. Stockholm, 4 November 2026 Pierre Fors Jonas Mårtensson Chairman Vice chairman Marie Ygge Lars Engström Board member Board member Mikael Vaezi Fredrik Valentin Board member Chief Executive Officer Alcadon Group AB (publ) Q3 2026 18
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Definitions Gross profit: Net sales minus cost of goods sold. Gross margin: Gross profit as a percentage of net sales for the period. Adjusted EBITDA: Operating profit before depreciation and amortisation, adjusted for reversal of acquisition costs, deductions/additions of earnings from contingent considerations, and unrealised exchange rate gains and losses. Adjusted EBITA: Operating profit before amortisation on intangible assets, adjusted for reversal of acquisition costs, deductions/additions of earnings from contingent considerations, and unrealised exchange rate gains and losses. Adjusted EBITA margin: Adjusted EBITA as a percentage of net sales for the period. EBITA: Operating profit before amortisation of intangible assets. EBITA margin: EBITA as a percentage of net sales for the period. EBIT: Operating profit after depreciation and amortisation. EBIT margin: EBIT as a percentage of net sales for the period. Equity ratio: Equity as a percentage of total assets (excluding cash and financial assets) at the end of the period. Net interest-bearing liabilities: Net financial assets, including cash and cash equivalents, minus interest-bearing provisions and liabilities. The amounts are calculated including lease liabilities in accordance with IFRS 16. Contingent considerations are not included in net debt, as potential payments of contingent considerations are subject to requirements such as EBITDA growth, operating margin development and cash flow. P/WC: Rolling 12 month adjusted EBITA (P) as a percentage of average 12 month working capital (WC), defined as inventory plus trade receivables minus trade payables. Earnings per share: Net profit for the period divided by the average number of shares during the period. Cashflow from operating activities per share, SEK Cash flow from operating activities (”Operating cash flow”) divided by the average number of shares for the period. Net debt, times: Net interest-bearing debt divided by adjusted EBITDA R12 proforma. The Company applies ESMA’s guidelines on alternative performance measures. An alternative performance measure is a financial measure that is not defined or specified in applicable financial reporting standards (e.g. IFRS and the Annual Accounts Act). Alternative performance measures must therefore be explained in the financial statements. In accordance with these guidelines, the Group’s alternative performance measures are defined above. The Group applies alternative performance measures as the Company considers that they provide valuable supplementary information to management and investors, as they are central to the understanding and evaluation of the Group’s operations. Alcadon Group AB (publ) Q3 2026 19
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Quarterly financial overview for the group Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 INCOME STATEMENT, SEK million 2026 2026 2026 2025 2025 2025 2025 2024 2024 Net sales 382.7 355.9 345.4 369.2 327.3 351.5 385.6 375.6 370.2 Profit Adjusted EBITA 27.0 25.9 24.9 23.8 23.0 23.8 24.7 31.1 22.4 EBITA 27.2 24.6 23.7 28.8 23.9 22.5 33.6 31.2 19.9 Profit after financial items 18.1 13.4 12.9 19.3 13.8 10.2 22.6 18.5 10.7 Profit for the period 16.6 13.3 10.5 -36.2 9.2 7.7 8.1 6.9 5.4 Margin measure in % Gross margin, % 26.0 27.1 26.9 27.4 26.8 27.0 25.8 26.4 24.7 Adjusted EBITA margin, % 7.1 7.3 7.2 6.4 7.0 6.8 6.4 8.3 6.0 EBITA margin, % 7.1 6.9 6.9 7.8 7.3 6.4 8.7 6.4 4.6 BALANCE SHEET, SEK million Assets Total fixed assets 999 998 937 937 978 1,001 999 1,053 1,049 Total current assets 652 604 584 575 580 608 621 648 664 Total assets 1,652 1,602 1,521 1,512 1,558 1,608 1,620 1,701 1,713 Equity & Liabilities Total equity 858 819 789 767 820 829 812 856 831 Total long-term liabilities & provisions 401 406 380 385 419 445 414 438 454 Total current liabilities 393 378 353 359 319 334 393 407 427 Total equity and liabilities 1,652 1,602 1,521 1,512 1,558 1,608 1,620 1,701 1,713 CASH FLOW, SEK million Net cash flow from operating activities -1.8 19.9 30.0 61.1 15.5 41.5 10.4 38.9 14.4 Investing activities 5.8 -33.9 -1.8 -19.0 -19.8 -2.0 0.2 -1.5 -68.3 Financing activities -10.1 -10.0 -12.0 -13.5 -12.4 -29.4 -20.2 -31.5 11.7 Cash flow for the period -6.0 -24.0 16.3 28.6 -16.7 10.1 -9.6 6.0 -42.2 OTHER INDICATORS FOR THE GROUP P/WC, % 38.2 36.0 33.2 30.7 31.6 31.0 32.9 34.4 33.0 Account receivables, SEK million 265.5 243.8 235.3 256.2 253.8 250.6 264.6 241.9 272.0 Inventory, SEK million 267.0 254.4 226.6 221.1 249.2 267.3 277.4 308.1 298.9 Account payables, SEK million 236.1 257.0 229.5 230.8 202.8 223.6 231.9 248.9 249.8 Net debt ratio, times 2.3 2.3 2.3 2.5 2.7 2.6 2.6 2.6 3.0 Number of employees at the end of the period 176 180 174 177 189 185 185 189 190 Alcadon Group AB (publ) Q3 2026 20
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Quarter 3 January - September Full year EBITA, SEK million 2026 2025 2026 2025 2025 EBIT 22.4 19.1 61.7 64.9 89.1 Amortisation of intangible assets 4.9 4.9 13.8 15.1 19.7 EBITA 27.2 23.9 75.5 80.0 108.8 Adjusted EBITA, SEK million EBITA 27.2 23.9 75.5 80.0 108.8 Acquisition costs - - 0.3 - - Revaluation and reversal of contingent considerations 0.3 -1.2 0.4 -7.8 -12.7 Unrealised exchange rate gains and losses -0.5 0.3 1.6 -0.7 -0.8 Adjusted EBITA 27.0 23.0 77.8 71.5 95.3 Operating expenses, SEK million Operating expenses and cost of goods sold -350.5 -300.9 -993.7 -978.3 -1,317.4 Cost of goods sold 283.3 239.6 795.0 782.7 1,050.6 Operating expenses -67.2 -61.4 -198.7 -195.7 -266.8 Net interest-bearing liabilities, SEK million 2026-09-30 2025-09-30 2025-12-31 Long-term liabilities to credit institutions 292.5 302.5 300.0 Current liabilities to credit institutions 10.0 10.1 10.1 Bank overdraft facility - - - Cash and cash equivalents -55.0 -38.2 -66.0 Net interest-bearing liabilities excluding leases 247.5 274.3 244.0 Long-term lease liabilities 30.7 44.8 39.4 Current lease liabilities 18.3 19.3 19.1 Net interest-bearing liabilities 296.5 338.4 302.6 Net debt ratio, times 2026-09-30 2025-09-30 2025-12-31 EBITDA R12 127.3 135.3 132.9 Proforma adjustment and acquisition costs R12* 3.1 - - Revaluation and reversal of contingent considerations R12 -4.4 -9.6 -12.7 Unrealised exchange rate gains and losses R12 1.5 1.1 -0.8 Adjusted EBITDA R12 (proforma) 127.4 126.7 119.4 Net interest-bearing liabilities 296.5 338.4 302.6 Net debt ratio (Net interest-bearing liabilities/ Adjusted EBITDA R12 (proforma)) 2.3 2.7 2.5 Operating profit / Working capital (P/WC) 2026-09-30 2025-09-30 2025-12-31 Adjusted EBITA R12 101.6 102.6 95.3 Average working capital 12 months 265.7 324.8 310.2 P/WC (Adjusted EBITA R12 / Average working capital 12 months), % 38.2 31.6 30.7 *Refers to the period prior to acquisition, assuming the acquired companies had been part of the Group for the past 12 months. Calculation of alternative performance measures Alcadon Group AB (publ) Q3 2026 21
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Segelbåtsvägen 2, SE-112 64 Stockholm info@alcadon.com +46 (0)8 657 36 00 www.alcadongroup.se Alcadon Group AB