Slides
Page 1
FINANCIAL REPORT 1 April – 31 December 2025 4 February 2026 Magnus Söderlind – CEO Peter Schön - CFO 1
Page 2
HIGHLIGHTS Third Quarter 2025/2026 2 Market uncertainty ❖ Positive outlook at the turn of the year, including increased investment activity in the Nordic construction sector ❖ Geopolitics remain highly uncertain -adverse macro scenarios could dampen the pick up Continued Earnings, Margin, Return and EPS Improvement ❖ Turnover totalled MSEK 1,257 (4 percentage organic growth) ❖ EBITA increased 12 percent – 24 consecutive quarter with improved profit ❖ EBITA margin 10.7 percent (9.6) ❖ Profitability (P/WC) increased 5 percentage units to 35 percent ❖ EPS R12 (adjusted) improved to SEK 8.50 (7.55) after dilution
Page 3
HIGHLIGHTS Third Quarter 2025/2026 3 Market uncertainty Continued Earnings, Margin, Return & EPS Improvement Structural Initiatives to Further Strengthen B&B ❖ New divisional structure implemented ❖ Two acquisitions during the period, annual sales MSEK 75 ❖ After the quarter ❖ Acquired A1S, annual sales 110 MSEK Feb 2 ❖ Divested Logistikpartner i Ulricehamn AB Jan 13
Page 4
Annual Revenue EBITA P/WC Division MSEK % % Safety Ontec Technology 45 >>>15 >>>45 Core Raintite Solutions 90 >15 >>45 Safety Mann & Co Technology 30 ~15 45 Core H C Coils Solutions 130 >15 >>45 Safety Donut Safety Systems Technology 40 >>>15 >>45 Safety Modus Gauges Technology 25 >>>15 >45 Safety DataLase Technology 50 >>15 >>45 Safety A1S Technology 110 >>>15 >>>45 Total 520 EIGHT ACQUISTIONS 2025/2026– ABOVE ACQUISITION TARGET OF MSEK 50–80 Q1 Q2 Q3 Q4
Page 5
24 CONSEQUTIVE QUARTERS WITH INCREASED EBITA EBITA per quarter MSEK% 5 37 57 64 66 68 73 78 81 84 88 91 84 103 104 105 107 110 116 119 120 121 125 130 1331) 135 0 20 40 60 80 100 120 140 0 2 4 6 8 10 12 14 Q3 19/20 Q4 Q1 20/21 Q2 Q3 Q4 Q1 21/22 Q2 Q3 Q4 Q1 22/23 Q2 Q3 Q4 Q1 23/24 Q2 Q3 Q4 Q1 24/25 Q2 Q3 Q4 Q1 25/26 Q2 Q3 EBITA EBITA % 94 ❖ EBITA increased 12 percent, MSEK 135 (121) ❖ EBITA margin 10.7 percent (9.6) 1) Adjusted for non-recurring items of MSEK 36
Page 6
NET SALES POSITIVE ORGANIC REVENUE GROWTH FOR THE FIRST TIME IN 14 QUARTERS Revenue per quarter 800 900 1,000 1,100 1,200 1,300 1,400 Q1 20/21 Q2 Q3 Q4 Q1 21/22 Q2 Q3 Q4 Q1 22/23 Q2 Q3 Q4 Q1 23/24 Q2 Q3 Q4 Q1 24/25 Q2 Q3 Q4 Q1 25/26 Q2 Q3 Revenue Revenue Trend Quarterly Revenue, % 4 -4 -1 -1 Organic Currency Acquisitions/ Divestments Actual MSEK 6
Page 7
OWN PRODUCTS SHARE ABOVE TARGET LEVEL DIVESTMENTS, ORGANIC IMPROVEMENTS AND ACQUISTIONS ENHANCE GROSS MARGIN Gross margin per quarter 30 35 40 45 50 55 Q1 20/21 Q2 Q3 Q4 Q1 21/22 Q2 Q3 Q4 Q1 22/23 Q2 Q3 Q4 Q1 23/24 Q2 Q3 Q4 Q1 24/25 Q2 Q3 Q4 Q1 25/26 Q2 Q3 GM GM Trend Revenue per type of products Rolling 12 months % 7 70% 72% 74% 79% 30% 28% 26% 21% 31 Mar 2023 31 Mar 2024 31 Mar 2025 31 Dec 2025 Other Products Own Proprietary Products
Page 8
GROUP TARGET OVERVIEW AND STATUS 8 EBIT EBIT- margin P/WC 500 MSEK >10% 45% 216 236 189 247 298 339 372 399 412 500 0 100 200 300 400 500 600 17/18 18/19 19/20 20/21 21/22 22/23 23/24 24/25 2512 R12 25/26 5.6 6.0 4.7 5.7 6.5 7.1 7.9 8.0 8.2 10 0 2 4 6 8 10 12 17/18 18/19 19/20 20/21 21/22 22/23 23/24 24/25 2512 R12 25/26 20 22 16 20 22 21 26 31 35 45 0 10 20 30 40 50 17/18 18/19 19/20 20/21 21/22 22/23 23/24 24/25 2512 R12 26/27 Adjusted for non-recurring items
Page 9
EPS CONTINUES TO IMPROVE 9 1.50 1.45 1.60 1.60 1.80 1.85 1.85 2.00 2.05 1.80 2.05 1.90 1.70 1.80 1.95 1.70 1.95 1.95 1.95 2.25 2.05 2.00 2.15 0.00 1.00 2.00 3.00 4.00 5.00 6.00 7.00 8.00 9.00 Q1 20/21 Q2 Q3 Q4 Q1 21/22 Q2 Q3 Q4 Q1 22/23 Q2 Q3 Q4 Q1 23/24 Q2 Q3 Q4 Q1 24/25 Q2 Q3 Q4 Q1 25/26 Q2 Q3 EPS Q R12 SEK
Page 10
INVENTORY LEVEL – SLOWER REDUCTION PACE ❖ Inventory amounted to MSEK 1,103 (1,227) ❖ Organic inventory reduction MSEK 55 ❖ ITO levelled out 10 0.0 1.0 2.0 3.0 700 800 900 1,000 1,100 1,200 1,300 1,400 1,500 1,600 Q1 20/21 Q2 Q3 Q4 Q1 21/22 Q2 Q3 Q4 Q1 22/23 Q2 Q3 Q4 Q1 23/24 Q2 Q3 Q4 Q1 24/25 Q2 Q3 Q4 Q1 25/26 Q2 Q3 Inventory R12 ITO R12 MSEK ITO
Page 11
CASH FLOW FROM OPERATING ACTIVITIES – ACCORDING TO PLAN ❖ Cash flow from operating activities MSEK 125 (207) 11 133 133 142 -25 94 57 110 -36 79 50 59 145 179 176 207 94 187 87 207 28 182 112 125 -50 0 50 100 150 200 250 Q1 20/21 Q2 Q3 Q4 Q1 21/22 Q2 Q3 Q4 Q1 22/23 Q2 Q3 Q4 Q1 23/24 Q2 Q3 Q4 Q1 24/25 Q2 Q3 Q4 Q1 25/26 Q2 Q3 Cashflow Cash flow Trend MSEK Cash flow per quarter
Page 12
ACQUISITIONS AND REPUCHASE OF SHARES INCREASED NET DEBT ❖ Operational Net Debt MSEK 1,529 (1,223) ❖ Net Debt/EBITDA 2.6 (2.3) ❖ Increased due to MSEK 87 in acquisitions during the quarter and MSEK 561 during the last 12 months ❖ Repurchase of shares in the quarter amounted to MSEK 64 ❖ Acquisition target remains intact ❖ After the quarter ❖ One acquisition (A1S) 12 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 Q1 20/21 Q2 Q3 Q4 Q1 21/22 Q2 Q3 Q4 Q1 22/23 Q2 Q3 Q4 Q1 23/24 Q2 Q3 Q4 Q1 24/25 Q2 Q3 Q4 Q1 25/26 Q2 Q3 Operational Net Debt ND / EBITDA excl IFRS 16 MSEK ND/EBITDA
Page 13
Core Solutions Components and solutions such as fastering products, metal liners, heat exchangers and access panels Safety Technology Safety products and solutions, such as personal-area-, technical- and fire safety Machinery & Equipment Machinery, equipment, supply tools, appliances, and instruments PPE & Utilities Personal protective equipment and utility solutions (sold mainly through resellers) NEW DIVISION STRUCTURE
Page 14
❖ Revenue increased 15 percent to MSEK 378 (329) ❖ EBITA increased by 104 percent to MSEK 53 (26) ❖ EBITA margin increased to 14.0 percent (7.9) CORE SOLUTIONS Construction sector remained stable, although varied across sub-segments. Early signs of recovery emerging. 14 50 80 110 140 170 200 230 Q4 23/24 Q1 24/25 Q2 Q3 Q4 Q1 25/26 Q2 Q3 EBITA R12 400 700 1,000 1,300 1,600 1,900 2,200 Q4 23/24 Q1 24/25 Q2 Q3 Q4 Q1 25/26 Q2 Q3 Revenue R12 0 3 6 9 12 15 18 Q4 23/24 Q1 24/25 Q2 Q3 Q4 Q1 25/26 Q2 Q3 EBITA % R12 MSEK MSEK Focus driving organic growth in companies to strengthen margins and returns alongside acquisitions
Page 15
SAFETY TECHNOLOGY Organic demand mixed - overall somewhat stronger, acquisitions primary driver behind earnings growth 15 0 3 6 9 12 15 18 Q4 23/24 Q1 24/25 Q2 Q3 Q4 Q1 25/26 Q2 Q3 EBITA % R12 400 600 800 1,000 1,200 1,400 1,600 Q4 23/24 Q1 24/25 Q2 Q3 Q4 Q1 25/26 Q2 Q3 Revenue R12 50 80 110 140 170 200 230 Q4 23/24 Q1 24/25 Q2 Q3 Q4 Q1 25/26 Q2 Q3 EBITA R12 ❖ Revenue increased 26 perecnt to MSEK 316 (251) ❖ EBITA increased by 50 percent to MSEK 51 (34) ❖ EBITA margin increased to 16.1 percent (13.5) ❖ Acquired Modus Gauges October 1 ❖ Acquired DataLase November 3 ❖ Acquired A1S February 2 MSEK MSEK Focus driving organic growth in companies to strengthen margins and returns alongside acquisitions
Page 16
MACHINERY & EQUIPMENT Demand varied, performance weak due to lower contribution margins & higher operating expenses ❖ Revenue amounted to MSEK 134 (131) ❖ Adjusted EBITA totalled MSEK 10 (25) ❖ EBITA margin 7.5 percent (19.1) ❖ New division head as of January – Johan Cederstrand 16 0 3 6 9 12 15 18 Q4 23/24 Q1 24/25 Q2 Q3 Q4 Q1 25/26 Q2 Q3 EBITA % R12 200 400 600 800 1,000 Q4 23/24 Q1 24/25 Q2 Q3 Q4 Q1 25/26 Q2 Q3 Revenue R12 20 40 60 80 100 120 140 Q4 23/24 Q1 24/25 Q2 Q3 Q4 Q1 25/26 Q2 Q3 EBITA R12 MSEK MSEK Initial focus is to restore and strengthen margins and returns, followed by complementary acquisition
Page 17
PPE & UTILITIES Underlying performance stronger than figures indicate ❖ Revenue totalled MSEK 424 (558) but need to consider divested impact ❖ Skydda contributed approximately SEK 100 million comparison period ❖ Luna Baltics around SEK 30 million ❖ EBITA MSEK 32 (44) ❖ EBITA margin 7.5 percent (7.9) ❖ New division head as of October 2025 – Jan Lundmark 17 0 3 6 9 12 15 Q4 23/24 Q1 24/25 Q2 Q3 Q4 Q1 25/26 Q2 Q3 EBITA % R12 1,000 1,200 1,400 1,600 1,800 2,000 2,200 2,400 Q4 23/24 Q1 24/25 Q2 Q3 Q4 Q1 25/26 Q2 Q3 Revenue R12 50 80 110 140 170 200 230 Q4 23/24 Q1 24/25 Q2 Q3 Q4 Q1 25/26 Q2 Q3 EBITA R12 MSEK MSEK Develop existing companies to improve margins and returns. Acquisitions not near-term priority
Page 18
WHAT WE ALWAYS DO ❖ Profit expansion over revenue growth ❖ B&B Focus Model guides capital allocation company-by-company ❖ Group support – B&B Tool Box ❖ Acquisition of highly profitable B2B companies with leading positions in growing niche markets TOWARDS THE TARGET 500/TEN/45 ALBEIT WITH SEVERAL QUARTERS OF DELAY 18 CURRENT GROUP THEMES ❖ Work down debt ratio e.g. inventory (ITO) back to ‘pre-corona’ levels & continued profit expansion ❖ Gross margin protection ❖ Capitalize when a stronger underlying market UNDERLYING MARKET ❖ Positive outlook end 2025 - adverse macro scenarios could dampen the pick up
Page 19
Contact Investor Relations Calendar Peter Schön +46 70 339 89 99 ir@bb.se 13 May 2026 Financial Report 1 April 2025 – 31 March 2026 19 16 July 2026 Interim Report 1 April – 30 June 2026
Page 20
SHAPING GREAT COMPANIES SINCE 1906