Interim report
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Interim report Q2 2026 BPC Instruments AB (publ) Orgnr: 556687-2460
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Net sales for the period amounted to KSEK 27,514 (30,019), a decrease of 8.3 percent. EBIT for the period amounted to KSEK 1,061 (3,427), with an EBIT margin of 3.9 percent. Net profit amounted to KSEK 892 (2,342). Earnings per share for the period amounted to SEK 0.08 (0.21). At the end of the period equity/asset ratio was 92 (93) percent. Total cash and cash equivalents including short-term investments amounted to KSEK 64,315 (59,680). Net sales for the second quarter amounted to KSEK 15,025 (16,879), a decrease of 11 percent. EBIT for the second quarter amounted to KSEK 1,641 (2,436), with an EBIT margin of 10.9 percent. Net profit amounted to KSEK 1,343 (2,003). Earnings per share for the second quarter amounted to SEK 0.12 (0.18). Key figures 15,025 1,641 Quarterly performance 16,087 17,119 13,045 12,489 16,879 16,959 18,170 3,823 2,888 955 -579 2,436 3,689 1,675 Q3 ’24 Q4 ’24 Q1 ’25 Q1 ’26 Q2 ’26Q2 ’25 Q3 ’25 Q4 ’25Q2 ’24 14,073 3,240 1,641 15,025 Net sales EBIT The information in the interim report regarding markets, competition and future growth represents BPC’s judgement, based mainly on material internal to the company and from external sources. This financial report contains statements that are forward-looking. Actual future results may differ materially from those anticipated. The number of shares in BPC Instruments as of June 30, 2026: 11,104,300 shares (11,104,300). Q2 2025: 16,879 Q2 2025: 2,436 Net sales EBITQ2 2026 H1 2026 Q1 2026 KSEK Q2 2026 CEO statement Highlights About BPC Financial reports 2 / 24Summary
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Dear shareholders, After a slow start to 2026, BPC returned to profitability in the second quarter. Net sales amounted to KSEK 15,025, up from KSEK 12,489 in the first quarter, while EBIT improved to KSEK 1,641, corresponding to a margin of 10.9 percent. Compared with a record-high second quarter last year, net sales decreased by 11 percent. The improvement from Q1 is encouraging, although the performance for the first half is below our expectations. Customer interest in BPC’s solutions remains broad across applications and geographic markets, despite continued uncertainty in the business environment, particularly in Europe and North America. However, sales cycles have lengthened, making the timing of order conversion less predictable. Academic customers are particularly affected by delays in securing research grants and fundings, while industrial customers are taking longer to complete budget approvals and investment decisions amid economic and policy uncertainty. Consequently, while underlying market interest A new chapter for BPC in Lund remains solid, many projects are progressing more slowly from initial engagement to confirmed orders. The second quarter was also a period of considerable operational change. In June, we began a new chapter for BPC by completing the move to our new 3,600-square-metre facility in Lund. The new premises brings production, logistics, laboratories and offices together under one roof. The relocation required a planned interruption to parts of our operations and temporarily reduced capacity for a few weeks, while related one-off costs had only a limited impact on EBIT. With the move completed, our focus has shifted to optimising workflows and making greater use of the capabilities offered by the new facility. The additional »Bringing production, logistics, laboratories and offices together under one roof gives us better conditions to develop the business and the capacity to grow.« Dr. Jing Liu CEO space and integrated setup provide better conditions for smoother and more efficient production, product development, laboratory services and training, while also giving us the capacity to expand these activities as the business grows. Certified quality and broader market reach Another important milestone during the quarter was achieving ISO 9001 certification. The certification covers our processes for technology and product development, sales, assembly, service, laboratory testing and training, confirming that these activities are managed through a structured and consistent quality management system. For institutions and larger corporations that require certified quality management from their suppliers, ISO 9001 also enables BPC to meet an important procurement requirement and reinforces our position as a trusted international supplier. Alongside these operational developments, we are broadening our commercial reach through digital channels. During the quarter, we launched an updated website and expanded our digital Summary Highlights About BPC Financial reports 3 / 24CEO statement
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activities to engage customers more effectively across markets. These initiatives complement our established sales organisation and global distributor network and support a stronger and more scalable international presence for BPC. In the United States, we entered into a three- year partnership with the Agricultural Utilization Research Institute (AURI). The collaboration focuses on improving the quality and comparability of anaerobic digestion experiments through technical exchange, training and access to BPC’s solutions. It also deepens our connections with researchers and industrial stakeholders in an important market for BPC. The AGM also marked a change to BPC’s Board of Directors. I am pleased to welcome Johan Hallberg to BPC’s Board of Directors. His extensive experience in technology development and international business will bring valuable perspectives as we »We enter the second half with our relocation completed, ISO 9001 certification in place and a broader commercial reach across our international markets.« “Bringing production, logistics, laboratories and offices together under one roof gives us better conditions to develop the business and the capacity to grow.” continue to develop the company. I would also like to thank Anita Sindberg who has stepped down from the Board for her valuable contribution to BPC since our IPO in 2021. Focus for the second half As we move into the second half of the year, the timing of individual orders remains difficult to predict. Nevertheless, we continue to see opportunities across geographic markets and application areas. This has historically been BPC’s most active period in line with the investment and purchasing cycles of many of our customers. At the same time, we will continue to advance our product portfolio and business development initiatives to respond to evolving market needs. We enter the second half with the relocation completed, ISO 9001 certification in place and a broader commercial reach. Our priority for the remainder of the year is to make full use of this improved platform, convert market opportunities into financial performance and continue building BPC for sustainable and profitable medium- and long-term growth. Dr. Jing Liu Chief Executive Officer BPC Instruments AB (publ) Summary Highlights About BPC Financial reports 4 / 24CEO statement
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ISO 9001 certification Increased digital presenceThree-year partnership with AURI BPC moves into new facility BPC received ISO 9001 certification for its quality management system. The certification supports more structured and scalable operations while strengthening BPC’s position with customers and partners that place high demands on quality and reliability. The launch of BPC’s new website gives customers a clearer route from application need to product selection, quotation and support. It also provides BPC with a more effective platform for international lead generation, digital marketing and sales. A three-year collaboration with the Agricultural Utilization Research Institute combines applied research, professional services and training within anaerobic digestion. Through AURI’s established industry network, BPC gains a long-term platform for customer engagement and market development in the US. In June, BPC completed the move to a new 3,600 square metre facility in Lund. The premises bring production, development, laboratory services and customer support together under one roof with capacity for the company’s continued expansion. The second quarter in brief Q2 Summary CEO statement About BPC Financial reports 5 / 24Highlights
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BPC CHINA BPC SWEDEN BPC Instruments is a Swedish technology company with 20 years of experience in developing and supplying analytical instruments for laboratory-based gas measurement and bioprocess analysis within renewable energy and environmental biotechnology. The company has customers in more than 90 countries and works together with partners across 16 markets. Its solutions are used in method-driven environments where reliable and comparable results are essential, from research and testing laboratories to industrial applications. What the company does BPC’s offering is built around a scalable instrument platform in which hardware, software and application knowledge are developed to work together in method-driven laboratory workflows. The instruments are used to measure and monitor gas production and gas flows in biological processes, providing a basis for evaluation, control and methodology. The focus is on standardised workflows, stable data quality and practical usability in day-to-day work. Global presence BPC has customers in more than 90 countries and works with partners and distributors in selected markets. This international reach provides a diversified base, with demand from both academia and industry. The head office is located in Lund, and the Group also has operations in China for a scalable structure including delivery, component sourcing and support. Segments and areas of application Biogas is the company’s largest segment and remains at the core of the offering. At the same time, BPC has in recent years successfully expanded the use of its platform into other areas, with biodegradability now the second-largest application area. As the need for verification, standardised methods and comparable data continues to grow, biodegradability has developed into a growth area. In addition, applications within animal nutrition, wastewater treatment and other fields broaden the market potential and reduce dependence on individual segments. BPC at a glance Scientific foundation BPC’s products are referenced in more than 1,000 scientific publications. This type of use in research environments places high demands on accuracy, reproducibility and methodological support, which also shapes how the company develops and maintains its product and knowledge offering. Group structure and listing BPC Instruments AB (publ) is listed on Spotlight Stock Market in Sweden under the ticker BPCINS. The Group consists of the parent company and its subsidiaries, including the Chinese operations. The company also holds a minority stake in Nordic Assembly, which assembles core units for BPC. Biogas | 64% Biodegradability | 25% Animal Nutrition | 7% Net sales by segment in Q2 2026 Distributors & Partners Summary CEO statement Highlights Financial reports 6 / 24About BPC
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Biogas Biodegradability W astew ater treatm ent Development, design and validation. Manufacturing and assembly. Direct sales and distribution. Installation and commissioning. Training and support. Additional systems and expanded capacity. 1. 2. 3. 4. 5. 6. Animal Nutrition How we create value BPC creates value by turning complex laboratory gas measurements into automated and repeatable workflows. Our technology platform combines precision instruments, software and application expertise, helping customers reduce manual work, produce consistent and comparable data, and use their laboratory resources more efficiently. We manage the key stages of the value chain, from development, design and validation to assembly, sales and commissioning. Instruments are sold directly and through distributors, allowing us us to combine technical expertise with local market knowledge. Our consultation and technical support help customers integrate the systems into their work and maintain reliable testing over time. From first system to expanded capacity Instrument sales form the core of our revenues. Customers can start with a setup that matches their current requirements and add further systems as testing volumes, research programmes or laboratory capacity increase. This extends the relationship beyond the initial purchase and creates opportunities for repeat orders, while experience from customers feeds back into the continued development of our systems. Our business model Summary CEO statement Highlights Financial reports 7 / 24About BPC
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Europe’s installed capacity in Q2 2026. The European Commission’s target of sustainable biomethane production by 2030. 8.2 bcm 35 bcm The latest figures from the European Biogas Association (EBA) show that Europe’s installed biomethane production capacity reached 8.2 billion cubic metres (bcm) per year by the end of Q2 2026.1) More than 1 bcm of capacity was added within a year, a growth of 17 percent. Europe has now passed 8 bcm for the first time, although further expansion is needed to reach the European Commission’s target of 35 bcm of annual biomethane production by 2030. The number of operational biomethane plants also continues to rise. According to EBA, the total increased from 1,678 to 1,975 between the 2025 and 2026 data collection periods. During that time, 327 new plants entered operation while some closed. Growth remains concentrated in the leading markets, with France, Germany, Italy, Denmark and the United Kingdom accounting for 95 percent of European biomethane production. Investments and market outlook EBA reports that €36 billion has now been committed to biomethane investments, up from €28 billion in the previous outlook. The investment pipeline includes around 1,200 new plants expected over the next five years. If fully realised, these commitments could add 1) European Biogas Association (EBA) and Gas Infrastructure Europe (GIE), European Biomethane Map 2026, June 2026. 4.3 x The current state of Europe’s biomethane build-up 9 bcm of annual production capacity by 2030. These commitments represent an extensive pipeline of planned projects, although their completion remains dependent on market and regulatory condi- tions. Regulatory certainty, faster permitting, access to feedstock and grid connections as factors affecting how quickly projects can move into operation. 0 2013 2012 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Biomethane plants 1,200 1,400 1,600 1,800 2,000 1,000 800 600 400 200 No. Number of biomethane plants in Europe1) 2025 2026 Market update Q2 2026 Summary CEO statement Highlights Financial reports 8 / 24About BPC
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Feedstocks, mixtures and process changes can be investigated at laboratory scale before being introduced into a commercial digester. This reduces reliance on full-scale trial and error. The resulting data can guide feedstock selection, mixture design and capacity use, while giving suppliers and operators a common basis for assessing material quality and linking prices to measured methane potential. Looking ahead With 8.2 bcm of installed capacity and close to 2,000 plants in operation, Europe’s biomethane sector is entering a larger and more operationally demanding phase. Around 1,200 additional plants are expected over the next five years, backed by €36 billion in committed investment.1) Reaching the 2030 target will require progress in both project development and plant operation. Planned facilities need to move into construction and operation, while existing plants need to increase capacity use and manage a broader range of residue- and waste-based feedstocks. BPC Instruments is well placed to support this next phase through analytical tools that help plant operators make informed decisions about feedstock selection and process optimisation. As the industry moves towards wider commercial deployment, reliable data will become increasingly relevant to plant performance and the effective use of organic resources. Development also varies considerably between countries. While established markets continue to expand, much of Europe’s biomethane potential remains undeveloped. Denmark, Italy and Spain currently account for the largest announced investment volumes, while projects are emerging across a wider range of European markets. New construction will be required to expand Europe’s biomethane production, while existing facilities also offer scope for higher output. EBA reports that biomethane plants currently operate at around 70 percent of installed capacity on average. Increasing capacity use at existing facilities could therefore contribute to production growth while new projects move through planning, permitting and construction. As the market develops, plant performance and cost efficiency are receiving greater attention. Feedstock evaluation, process stability and methane yield all influence how effectively installed capacity is used. This places greater emphasis on reliable operational data and consistent testing methods. The importance of feedstock quality Feedstock composition and degradability directly affect methane output, process stability and retention time. Europe is increasingly moving towards agricultural residues, organic municipal waste, sewage sludge and industrial by-products. These materials can vary between sources, deliveries and seasons. Reliable testing allows operators to compare substrates, assess different mixtures and identify potential inhibitory effects before changes are introduced at full scale. This can support more consistent plant performance and reduce the technical and financial risks associated with variable feedstocks and makes it possible to further increase the biomethane capacity. BPC’s role in enabling efficiency BPC has a critical role to play in this development. Meeting the operational demands of a growing biomethane sector requires reliable data throughout research, project development and the continued optimisation of commercial plants. Through our systems such as AMPTS® III, users can automate BMP testing and measure methane potential and degradation behaviour under controlled conditions, while our broader portfolio covers continuous process simulation, gas flow measurement and other areas of anaerobic digestion research. Together, these systems connect laboratory analysis with the practical decisions made during plant development and operation. Average utilisation of installed biomethane capacity is currently around 70 percent, leaving room to increase output from existing facilities. 1) European Biogas Association (EBA) and Gas Infrastructure Europe (GIE), European Biomethane Map 2026, June 2026. Summary CEO statement Highlights Financial reports 9 / 24About BPC
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BPC has a long history in gas measurement for biological processes, with an established position in biogas. In recent years, the same core technology has been applied to biodegradability testing, where reliable and repeatable analysis is becoming relevant to a wider range of materials and products. This development follows the continued expansion of biodegradable plastics. The global market was valued at USD 5.4 billion in 2023 and is projected to reach around USD 10 billion by 2030, corresponding to annual growth of approximately 9 percent.2) As more materials reach the market and regulatory requirements become stricter, companies need clearer evidence to support biodegradability claims and demonstrate compliance with recognised standards. Testing therefore takes place at several stages. R&D teams use internal testing to compare formulations and identify unsuitable candidates before submitting materials for formal qualification or certification. Finished products must also be assessed, since their biodegradability can differ from that of the individual materials used to produce them. This gives BPC access to customers across the testing process. Our systems are used by manufacturers and R&D teams conducting internal development work, as well as by laboratories carrying out qualification testing on behalf of material producers and other organisations. Biodegradability therefore represents a natural extension of BPC’s technology into a growing application area. BPC® Blue Launched in 2023, BPC® Blue is designed for both aerobic and anaerobic biodegradability assessments. It supports researchers, manufacturers, and industry professionals in evaluating plastics and polymer materials with high accuracy. By building on our experience in automated gas analysis, we have created a solution that simplifies complex testing procedures without compromising on quality, efficiency, or accessibility. Since its introduction, BPC® Blue has been adopted by organisations worldwide. Large-scale bioplastic producers in India, for example, use the instrument to ensure their materials comply with recognised biodegradability standards. At the same time, studies using both BPC® Blue and AMPTS® III are helping clarify how bioplastics behave in anaerobic digestion processes, supporting their integration into circular resource models and biogas production. From material claims to verified biodegradability 2) https://www.grandviewresearch.com/industry-analysis/biodegradable-plastics-market Biodegradability | 25% Net sales contribution in Q2 2026 Summary CEO statement Highlights Financial reports 10 / 24About BPC
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Interim Report Q3 2026 2026-11-11 Year-end Report Q4 2026 2027-02-24 BPC Instruments’ share is listed on Spotlight Stock Market with the ticker name BPCINS and ISIN code SE0017130826. The number of outstanding shares as of June 30, 2026, was 11,104,300. You can find more investor-related information on BPC’s website: www.investors.bpcinstruments.com. Names %, Votes & Capital BPCI Holding AB (Jing Liu) 60.00 Nordnet Pensionsförsäkring AB 10.63 Eiffel Investment Group SAS 9.45 Gustaf Olsson 4.55 ES Aktiehandel AB (Erik Selin) 3.86 Sustainable Holding Sweden AB (Kristofer Cook) 2.00 Avanza Pension 1.36 Exelity AB (publ) 1.31 Proprius Partners Oy 0.68 Kent Eklund 0.48 T otal ten largest shareholders 94.32 Other shareholders 5.68 T otal 100.00 Shareholder list Financial calendar Share developmentMore information 40 50 SEK 30 20 10 0 20232022 2024 2025 2026 OMXS 30 GIBPCINS BPC’s share Source: Euroclear –2021-12-16 2026-06-30 2026-06-30 Summary CEO statement Highlights Financial reports 11 / 24About BPC
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Financial information & reports Summary CEO statement Highlights About BPC Financial reports 12 / 24
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Summary CEO statement Highlights About BPC Financial reports 13 / 24 Group Financial Development | Q2 2026 Revenue The Group operating income in Q2 2026 decreased by 8.6 percent year-over-year to KSEK 15,729 (17,207), including KSEK 567 of activated development work and KSEK 137 (328) in other income. The decline was mainly driven by a more cautious investment climate and longer customer financing processes, with several projects taking longer than expected to move from technical discussion to purchase decision. The quarter was also affected by a temporary interruption to operations in connection with the move to the new facility in June. The change in FX had a slight negative impact on net sales year-over-year, amounting to approximately KSEK -120. The quarter showed a sales mix comprising Biogas 64 percent, Biodegradability 25 percent, Animal Nutrition 7 percent and Other 4 percent. Geographical and customer mix EMEA accounted for 50 percent of net sales, compared with 57 percent in Q2 2025. Asia-Pacific increased to 35 percent from 21 percent, while Scandinavia decreased to 5 percent from 11 percent. North America accounted for 8 percent, compared with 10 percent, and Latin America increased to 2 percent from 1 percent. Universities remained the largest customer group at 26 percent, compared with 27 percent in Q2 2025. Public or private research increased to 24 percent from 21 percent, while resellers accounted for 22 percent, compared with 20 percent. Energy-related industry decreased to 18 percent from 26 percent. Chemicals and materials represented 3 percent, while other customers accounted for 7 percent. Costs and margins Operating expenses totalled KSEK 14,088 (14,771). Compared with Q2 2025, raw material costs decreased, while other external costs increased mainly due to expenses related to the relocation to new facilities and investments in digital marketing activities. Personnel costs remained broadly in line with the previous year. As a result, total operating expenses decreased by 4.6 percent year-on-year despite continued investments in commercial and operational capabilities. EBIT was KSEK 1,641 (2,436), corresponding to an EBIT margin of 10.9 percent (14.4), and EBITDA was KSEK 2,197 (3,004), equal to an EBITDA margin of 14.6 percent (17.8). Net financial items, tax and earnings Net financial items for the quarter were KSEK –45 (71), consisting of interest income KSEK 27 (179) and interest expenses KSEK –73 (–108). Profit before tax amounted to KSEK 1,596 (2 507) and profit after tax was KSEK 1,343 (2,003), equal to earnings per share of SEK 0,12 (0,18). Cash flow and liquidity Cash flow from operating activities during the quarter amounted to KSEK –4,132 (–156). Cash flow from investing activities was KSEK –2,663 (–2,162), mainly attributable to changes in short-term investments. Cash flow from financing activities was KSEK 0 (0). Cash flow for the period totalled KSEK –6 795 (–2 318). The Group closed the quarter with cash and cash equivalents of KSEK 9,870 (14,566) and short-term investments of KSEK 54,445 (45,114), providing total liquidity of KSEK 64,315 (59,680). Short-term investments are readily convertible to cash. The Company has no interest-bearing debt and an equity-to-assets ratio of 91.9 percent (93.4). Operational priorities Management continues to focus on scalability, service readiness and cost control, while improving commercial follow-up and customer conversion. The pipeline remains diversified across markets and applications, but decision processes have become longer in both academia and industry. During the quarter, BPC continued to invest in product platform development, digital marketing visibility across markets and sales tools to increase conversion and shorten lead time. Number of employees As of June 30, 2026, the number of employees in the Group was 30 (30). The number of employees in the Parent company was 21 (20). Audit of the report This interim report has not been reviewed by the company’s auditor. Sector distribution, % Region distribution, % Customer type distribution, % Biogas EMEA Academia Biodegradability Asia-Pacific Other Latin America Other Animal Nutrition North America Scandinavia Industry 100 100 100 50 50 50 25 75 Q1 Q1 Q1 Q2 Q2 Q2 Q3 Q4 Q3 Q4 Q3 Q4
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Summary CEO statement Highlights About BPC Financial reports 14 / 24 Accounting and accounting principles BPC Instruments AB (publ) prepares its annual reports according to the Annual Accounts Act and K3 accounting principles. Quarterly reports are prepared under the same principles. Group Accounting principles – Subsidiaries Subsidiaries are all companies over which the Group has control. The Group controls a company when it is exposed to, or has the right to, variable returns from its holding in the company and has the ability to affect returns through its influence over that company. Subsidiaries are included in the consolidated financial statements from the date that control is transferred to the Group. They are excluded from the consolidated financial statements from the date such control ceases. The purchase method is applied for the Group’s business acquisitions. The purchase price for an acquired subsidiary is the fair value of the assets given, liabilities assumed by the Group to the previous owners of the acquired company, and the shares issued by the Group. The purchase price also includes the fair value of any assets or liabilities arising from any conditional purchase price. Identifiable acquired assets and assumed liabilities in a business acquisition are initially measured at fair value on the day of the acquisition. Transaction costs attributable to the acquisition are expensed as incurred. Intra-Group transactions, balance sheet items, and unrealised gains and losses on transactions between Group companies are eliminated. The accounting principles for subsidiaries are amended, if necessary, to ensure consistent application of the Group’s principles. EBITDA Operating profit before depreciation and amortisation. EBIT Operating profit after depreciation and amortisation, but before financial items and tax. EBIT Margin EBIT in relation to net sales, expressed as a percentage. Earnings per Share (EPS) Net profit divided by the weighted average number of shares outstanding during the period. Equity Ratio Equity at the end of the period divided by total assets. FX-definition The currency effect is calculated by re-translating the period’s revenue in EUR and USD using the comparative period’s average exchange rates. Definitions Business-related risks and uncertainties The primary risks and uncertainties affecting BPC Instruments’ operations include key personnel, competition, technological advancements, patents, regulatory requirements, capital needs, currency fluctuations, and interest rates. For a comprehensive overview of significant risk factors, please refer to the company’s Annual Report 2025, where no significant changes in risks or uncertainties have been noted since its publication.
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Summary CEO statement Highlights About BPC Financial reports 15 / 24 KSEK 2026 Apr–Jun 3 months 2025 Apr–Jun 3 months 2026 Jan–Jun 6 months 2025 Jan–Jun 6 months 2025 Jan–Dec 12 months Net sales 15,025 16,879 27,514 30,019 64,847 Activated work for own account 567 0 1,624 0 445 Other income 137 328 201 417 873 Operating income 15,729 17,207 29,340 30,436 66,165 Operating expenses Raw materials and consumables –3,263 –4,294 –7,160 –6,870 –16,391 Other external costs –4,491 –4,231 –8,570 –8,426 –16,192 Personnel costs –5,625 –5,557 –11,004 –10,266 –22,095 Depreciation of tangible and intangible assets –557 –568 –1,106 –1,125 –2,272 Result from participation in associated companies 0 0 0 0 0 Other operating expenses –153 –121 –438 –322 –461 –14,088 –14,771 –28,278 –27,009 –57,411 EBIT 1,641 2,436 1,061 3,427 8,754 Result from financial investments Income from other securities and receivables that are non-current assets 0 0 0 0 3,181 Other interest income and similar items 27 179 298 195 917 Other interest expenses and similar items –73 –108 –213 –532 –1,023 Total result from financial investments –45 71 85 –337 3,075 Profit after financial items 1,596 2,507 1,146 3,090 11,829 Tax –253 –504 –255 –748 –2,040 Net Profit 1,343 2,003 892 2,342 9,789 Earnings per share before and after dilution, (SEK) 0.12 0.18 0.08 0.21 0.88 Total number of shares 11,104,300 11,104,300 11,104,300 11,104,300 11,104,300 Income statement – Group
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Summary CEO statement Highlights About BPC Financial reports 16 / 24 Balance sheet – Group KSEK 2026-06-30 2025-06-30 2025-12-31 Fixed assets Goodwill 92 124 108 Capitalised expenditure on development and similar work 4,587 4,232 3,783 Patent 0 49 0 Total intangible assets 4,679 4,405 3,891 Tangible assets Equipment tools fixtures and fittings 2,428 1,388 1,375 Total tangible assets 2,428 1,388 1,375 Financial assets Endowment insurance 0 15,120 0 Other financial assets 109 109 109 Total financial assets 109 15,229 109 Total fixed assets 7,215 21,022 5,375 Current assets Inventories Raw materials and consumables 17,973 17,713 16,846 Short-term receivables Accounts receivables 8,037 5,289 9,006 Tax receivables 2,706 830 1,362 Other receivables 1,769 1,582 2,047 Prepaid expenses and accrued income 2,185 1,883 2,200 Total current receivables 14,697 9,584 14,615 Other short-term investments Other short-term investments 54,445 29,994 30,938 Cash and cash equivalents Cash and cash equivalents 9,870 14,566 34,211 Total current assets 96,985 71,857 96,610 Total assets 104,200 92,879 101,985 KSEK 2026-06-30 2025-06-30 2025-12-31 Equity and liabilities Equity Share capital 611 611 611 Other contributed capital 39,908 39,908 39,908 Retained earnings 54,387 43,911 43,889 Profit for the year 892 2,342 9,790 Total equity 95,798 86,772 94,198 Current liabilities Prepayment from customers 0 758 40 Account payables 5,758 2,657 2,987 Other liabilities 1,324 1,133 1,341 Accrued expenses and deferred income 1,320 1,559 3,419 Total current liabilities 8,403 6,107 7,787 Total equity and liabilities 104,200 92,879 101,985
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Summary CEO statement Highlights About BPC Financial reports 17 / 24 Total KSEK Share capital Other contributed capital Retained earnings / result for the period brought forward Shareholder’s equity Equity 2026-01-01 611 39,908 53,678 94,197 Exchange translation difference — — 709 709 Profit for the period — — 892 892 Equity 2026-06-30 611 39,908 55,279 95,798 Total KSEK Share capital Other contributed capital Retained earnings / result for the period brought forward Shareholder’s equity Equity 2025-01-01 575 16,925 45,148 62,648 Share issue 36 22,983 – 23,019 Exchange translation difference – – –1,259 –1,259 Profit for the year – – 9,789 9,789 Equity 2025-12-31 611 39,908 53,678 94,198 Total KSEK Share capital Other contributed capital Retained earnings / result for the period brought forward Shareholder’s equity Equity 2025-01-01 575 16,925 45,148 62,648 Share issue 36 22,983 0 23,019 Exchange translation difference — — –1,236 –1,236 Profit for the period — — 2,342 2,342 Equity 2025-06-30 611 39,908 46,254 86,772 Changes in equity – Group H1, 2026 FY, 2025 H1, 2025
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Summary CEO statement Highlights About BPC Financial reports 18 / 24 KSEK 2026 Apr–Jun 3 months 2025 Apr–Jun 3 months 2026 Jan–Jun 6 months 2025 Jan–Jun 6 months 2025 Jan–Dec 12 months Operating activities Profit before financial items 1,641 2,436 1,061 3,427 8,754 Adjustments for non-cash items –240 0 116 0 –382 Depreciation adjustments 430 564 962 1,125 2,272 Interest received and similar items 29 179 299 195 –273 Interest paid and similar items –73 –108 –213 –532 –1,023 Taxes paid –705 –913 –1,599 –1,627 –3,451 Cash flow from operating activities before changes in working capital 1,081 2,158 626 2,588 5,897 Cash flow from changes in working capital Changes in inventory –556 649 –1,127 –75 792 Changes in account receivables –3,052 –1,360 969 2,365 –971 Changes in other receivables –525 –67 294 817 35 Changes in account payables 125 –17 2,731 –258 –646 Changes in other liabilities –1,205 –1,519 –2,109 –2,595 645 Cash flow from operating activities –4,132 –156 1,384 2,842 5,752 Investment activities Investment in intangible assets –567 –74 –1,624 –74 –445 Investment in tangible assets –1,096 –88 –1,304 –88 –338 Disposal of financial assets 0 0 0 13,803 Changes in short term investments –1,000 –2,000 –23,507 –4,500 –24,944 Cash flow from investment activities –2,663 –2,162 –26,435 –4,662 –11,924 Financing activities Share issue 0 0 0 23,019 24,451 Share issue costs 0 0 0 0 –1,432 Cash flow from financing activities 0 0 0 23,019 23,019 Cash flow for the period –6,795 –2,318 –25,051 21,199 16,847 Cash and cash equivalents at the beginning of the period 15,956 46,878 34,212 23,361 17,367 Exchange rate differences in cash 709 0 709 0 –2 Cash and cash equivalents at the end of period 9,870 44,560 9,870 44,560 34,212 Short and long term investment 54,445 15,120 54,445 15,120 30,938 Total cash and cash equivalents at the end of the period* 64,315 59,680 64,315 59,680 65,149 Cashflow statement – Group *This item includes cash and cash equivalents, short-term invest- ments readily convertible to cash, as well as amounts reported under the line item ‘Endowment insurance’ in the balance sheet.
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Summary CEO statement Highlights About BPC Financial reports 19 / 24 KSEK 2026 Apr–Jun 3 months 2025 Apr–Jun 3 months 2026 Jan–Jun 6 months 2025 Jan–Jun 6 months 2025 Jan–Dec 12 months Net sales 14,371 16,108 26,428 29,141 63,112 Activated work for own account 567 0 1,624 0 445 Other income 126 272 166 358 479 Operating income 15,064 16,381 28,218 29,499 64,036 Operating expenses Raw materials and consumables –3,950 –4,692 –8,517 –7,946 –17,820 Other external costs –3,730 –3,554 –7,216 –7,054 –13,505 Personnel costs –5,189 –5,124 –10,164 –9,268 –20,326 Depreciation of tangible and intangible assets –526 –530 –1,046 –1,063 –2,152 Other operating expenses –58 –121 –241 –322 –460 –13,453 –14,021 –27,184 –25,654 –54,263 EBIT 1,611 2,360 1,034 3,846 9,773 Result from financial investments Income from other securities and receivables that are non-current assets 0 0 0 0 3,181 Other interest income and similar items 27 176 297 187 906 Other interest expenses and similar items –71 –107 –210 –525 –1,011 Total result from financial investments –44 69 88 –338 3,076 Profit after financial items 1,567 2,428 1,122 3,508 12,849 Tax –252 –502 –252 –741 –2,030 Net Profit 1,316 1,926 870 2,767 10,819 Earnings per share before and after dilution (SEK) 0.12 0.17 0.08 0.25 0.97 Total number of shares 11,104,300 11,104,300 11,104,300 11,104,300 11,104,300 Income statement – Parent company
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Summary CEO statement Highlights About BPC Financial reports 20 / 24 Balance sheet – Parent company KSEK | Assets | 2026-06-30 2025-06-30 2025-12-31 Fixed assets Intangible assets Capitalised expenditure on development and similar work 4,587 4,232 3,783 Patent 0 49 0 Total intangible assets 4,587 4,281 3,783 Tangible assets Equipment, tools, fixtures, and fittings 2,009 916 947 Total tangible assets 2,009 916 947 Financial assets Investment in Group companies 8,264 8,264 8,264 Endowment insurance 0 15,120 0 Other financial assets 109 109 109 Total financial assets 8,373 23,493 8,373 Total fixed assets 14,969 28,690 13,103 Current assets Inventories Raw materials and consumables 14,269 14,397 13,600 Short-term receivables Accounts receivables 6,130 4,221 8,638 Tax receivables 2,706 830 1,362 Other receivables 1,195 1,051 1,518 Prepaid expenses and accrued income 2,185 1,883 2,200 Total current receivables 12,217 7,985 13,718 Other short-term investments Other short-term investments 54,445 29,994 30,938 Cash and cash equivalents Cash and cash equivalents 5,413 9,898 29,243 Total current assets 86,344 62,274 87,499 Total assets 101,313 90,964 100,602 KSEK | Equity and liabilities | 2026-06-30 2025-06-30 2025-12-31 Equity Restricted equity Share capital 611 611 611 Reserve development costs 4,587 4,280 3,783 Total restricted equity 5,198 4,891 4,394 Non restricted equity Share premium reserve 39,908 39,908 39,908 Profit or loss brought forward 48,889 38,377 38,875 Profit/loss for the year 870 2,767 10,819 Total non-restricted equity 89,667 81,052 89,602 Total equity 94,865 85,943 93,996 Current liabilities Prepayment from customers 0 758 40 Accounts payables 3,988 1,689 1,913 Other liabilities 1,324 1,133 1,341 Accrued expenses and deferred income 1,136 1,441 3,311 Total current liabilities 6,448 5,021 6,605 Total equity and liabilities 101,313 90,964 100,602
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Summary CEO statement Highlights About BPC Financial reports 21 / 24 Restricted equity Non-restricted equity Total KSEK Share capital Reserve development costs Share premium reserve Profit/loss brought forward Profit/loss for the year Shareholder´s equity Equity 2026-01-01 611 3,783 39,908 38,874 10,819 93,995 Carried forward – – – 10,819 –10,819 0 Capitalised development expenditure – 1,624 – –1,624 – 0 Dissolution due to depreciation for the period – –821 – 821 – 0 Net profit for the period – – – – 870 870 Equity 2026-06-30 611 4,587 39,908 48,889 870 94,865 Restricted equity Non-restricted equity Total KSEK Share capital Reserve development costs Share premium reserve Profit/loss brought forward Profit/loss for the year Shareholder´s equity Equity 2025-01-01 575 5,076 16,925 25,577 12,004 60,157 Carries forward – – – 12,004 –12,004 – Share issues 36 – 22,983 – – 23,019 Capitalised development expenditure – 75 – –75 – – Dissolution due to depreciation for the period – –871 – 871 – – Net profit for the period – – – – 2,767 2,767 Equity 2025-06-30 611 4,280 39,908 38,377 2,767 85,943 Restricted equity Non-restricted equity Total KSEK Share capital Reserve development costs Share premium reserve Profit/loss brought forward Profit/loss for the year Shareholder´s equity Equity 2025-01-01 575 5,076 16,925 25,577 12,004 60,157 Carried forward – – – 12,004 –12,004 – Share issues 36 – 22,983 – – 23,019 Capitalised development expenditure – 445 – –445 – – Dissolution due to depreciation for the year – –1,738 – 1,738 – – Net profit for the year – – – – 10,819 10,819 Equity 2025-12-31 611 3,783 39,908 38,874 10,819 93,996 Changes in equity – Parent company H1, 2026 H1, 2025 FY, 2025
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Summary CEO statement Highlights About BPC Financial reports 22 / 24 KSEK 2026 Apr–Jun 3 months 2025 Apr–Jun 3 months 2026 Jan–Jun 6 months 2025 Jan–Jun 6 months 2025 Jan–Dec 12 months Operating activities Profit before financial items 1,611 2,359 1034 3,846 9,774 Adjustments for non-cash items 269 0 117 0 –382 Depreciation adjustments 426 530 946 1,064 2,152 Interest received and similar items 25 176 297 187 905 Interest paid and similar items –70 –107 –210 –525 –1,011 Taxes paid –703 –911 –1,596 –1,620 –3,441 Cash flow from operating activities before changes in working capital 1,558 1,887 588 2,952 7,997 Cash flow from changes in working capital Changes in inventory –182 350 –668 –572 225 Changes in account receivables –2,015 –627 2,508 2,957 –1,461 Changes in other receivables –505 –89 337 745 –39 Changes in account payables –858 –1,640 2,033 –1,459 –2,014 Changes in other liabilities –1,512 –1,306 –2,193 –1,473 606 Cash flow from operating activities –3,514 –1,265 2,605 3,150 5,314 Investment activities Investment in intangible assets –567 –74 –1,624 –74 –445 Investment in tangible assets –1,097 –51 –1,304 –88 –338 Investment in associated companies 0 0 0 0 0 Changes in short term investment –1,007 –2,000 –23,507 5,994 –24,501 Changes investments receivables 0 0 –4,500 13,803 Cash flow from investment activities –2,671 –2,125 –26,435 1,332 –11,481 Financing activities Share issue 0 0 0 23,019 24,451 Share issue costs 0 0 0 0 –1,432 Cash flow from financing activities 0 0 0 23,019 23,019 Cash flow for the period –6,185 –3,390 –23,830 27,501 16,852 Cash and cash equivalents at the beginning of the period 11,598 43,282 29,243 12,391 12,391 Cash and cash equivalents at the end of the period 5,413 39,892 5,413 39,892 29,243 Short and long term investment 54,445 15,120 54,445 15,120 30,938 Total cash and cash equivalents at the end of the period* 59,858 55,012 59,858 55,012 60,181 Cashflow statement – Parent company *This item includes cash and cash equivalents, short-term invest- ments readily convertible to cash, as well as amounts reported under the line item ‘Endowment insurance’ in the balance sheet.
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Summary CEO statement Highlights About BPC 23 / 24Financial reports Statement by the Board of Directors Gustaf Olsson Kristofer Cook Johan Hallberg Jing Liu CEO & Board memberChairman of the Board Board member Board member Lund, August 26, 2026 BPC Instruments AB (publ) The Board of Directors provides its assurance that the interim report for the second quarter of 2026 provides a true and fair overview of the company’s operations, financial position, and results. Orgnr: 556687-2460 IR contact: ir@bpcinstruments.com Website: bpcinstruments.com BPC Instruments AB (publ) Sellerigatan 6 224 78 Lund, Sweden This information is such information that BPC Instruments AB (publ) is obliged to publish in accordance with the EU Market Abuse Regulation (MAR). The information was submitted for publication through the contact person stated above at the time specified by BPC Instruments’ news distributor, Cision, upon publication of this report.
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BPC Instruments AB (publ) www.bpcinstruments.com