Slides
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Ola Klingenborg President and CEO Patrik Sjölund CFO Interim report, Q3, 22 October 2026
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Agenda • CEO update • Financials • P&L • Segments • Cash flow & Balance sheet • Key take aways • Q&A Organic growth Q3 -1.5% (3.6%) Adj EBITA- margin Q3 5.0% (4.5%) Cash conversion Q3 LTM 87% (96%)
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CEO update P & L Segments CEO update Key take awaysCash flow & Balance sheet Financials Financial Performance • Organic growth in Sweden and Finland, nearly unchanged in Norway while seeing negative growth in Denmark. • Adjusted EBITA margin improved to 5.0% (4.5%) and Adjusted EBITA increased by 12% to SEK 149 million. • Improved earnings performance in Sweden, Norway, and Finland. Commercial and Operations • Stine Solheim appointed CCO. • Customer Satisfaction Index increased to 74 (72), exceeding the target. All time high customer NPS. • Extended and new contracts secured across all markets, including ABB, CGI, SiO, Karolinska and OPP Vejle. • Participating in several tenders. • Strengthened sales capacity to support growth. • Within Property, Coor Connect launched in Sweden enabling 24/7 remote monitoring of technical property installations. • Work to increase the operational efficiency through improved resource planning and scheduling is progressing as planned. Digitalization & AI • AI agents are implemented in operational delivery which will lead to reduced administration, higher quality, and faster processes. Outlook • Continued high market activity. • Focus on: • Cross-selling and upselling • Efficiency improvements • Margin enhancement • Profitable growth • Positive development in Sweden, Finland and Norway, with continued stabilisation efforts in Denmark.
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Improved adj. EBITA margin to 5.0% in Q3 1 LTM 2 Survey conducted once a year Business responsibility Q3 2026 Q3 2025 Q2 2026 LTM (Q3 2026) Mid long-term target Organic growth -1.5% 3.6% -3.3% -0,3% 4-5% Organic net sales growth over a business cycle Acquired growth 0.0% 0.0% 0.0% 0.0% n/a Adj. EBITA margin 5.0% 4.5% 5.5% 5.2% ~5,5% Adj. EBITA margin Cash conversion1) 87% 96% 90% 87% >90% (Adj. EBITDA – CAPEX – ΔWC) / Adj. EBITDA Leverage1) 2.3 2.7 2.5 2.3 <3,0x Net debt / Adj. EBITDA LTM Customer satisfaction2) Customer satisfaction index (CSI) 74 72 ≥70 P & L Segments Key take awaysCash flow & Balance sheet FinancialsCEO update
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Net Sales and Adj. EBITA development P & L Segments Key take awaysCash flow & Balance sheet FinancialsCEO update 2,3 2,4 2,4 2,9 3,0 3,0 2,8 3,1 3,0 3,2 3,0 3,3 3,1 3,2 2,9 3,2 3,1 3,2 3,0 3,2 3,0 3,1 3,0 -6,6% 7,6% 5,0% 7,8% 11,1% 9,5% 1,1% -0,6%-1,0% 2,2% 2,8% 3,1% 2,0% -0,7%-0,5%-2,8%-1,8% 3,1% 3,6% 3,2% 0,5% -3,3%-1,5% -40,0% -30,0% -20,0% -10,0% 0,0% 10,0% 20,0% 30,0% 40,0% 0 0,5 1 1,5 2 2,5 3 3,5 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2021 2022 2023 2024 2025 2026 Net Sales development, bnSEK Net Sales Organic growth 139 167 151 174 187 172 122 153 152 161 126 166 160 161 120 105 144 165 134 160 167 170 149 6,0% 6,8% 6,2% 6,0% 6,3% 5,8% 4,4% 5,0% 5,1% 5,1% 4,2% 5,1% 5,1% 5,1% 4,1% 3,3% 4,7% 5,2% 4,5% 5,0% 5,5% 5,5% 5,0% 0,0% 1,0% 2,0% 3,0% 4,0% 5,0% 6,0% 7,0% 8,0% 9,0% 10,0% 0 20 40 60 80 100 120 140 160 180 200 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2021 2022 2023 2024 2025 2026 Adj. EBITA development, mSEK Adj. EBITA Adj. EBITA margin P&L LTM FY 2026 2025 Chg. Q3 2026 2025 Net sales 3 007 3 005 2 12 363 12 480 Adj. EBITA 149 134 15 646 603 Adj. EBITA margin 5,0% 4,5% 0,5% 5,2% 4,8% EBIT 101 98 3 503 455 Financial net -34 -39 5 -141 -154 Income tax expense -19 -17 -3 -98 -84 Net income 48 43 5 264 218 Add-back amortization 8 15 -7 37 56 Adj.Net income 56 57 -2 301 274 Q3
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Sweden Organic growth +3.5% (LY -1.5%) Adj EBITA- margin 8.4% (LY 7.8%) Share of Net Sales LTM 56% Q3 2026 • Net sales increased by 3 per cent as a result of a continued good level of activity with higher income for IFM, Cleaning and Property services. • Adjusted EBITA for the quarter amounted to SEK 135 (122) million The adjusted EBITA margin was 8.4 (7.8)%. • Strong performance across all our businesses in Sweden. • Extended contracts with ABB, CGI, Locum Syd, Karolinska and Micasa and new contracts with the City of Västerås and Stockholm Culture Department. Organic growth and improved profitability P & L Segments Key take awaysCash flow & Balance sheet FinancialsCEO update 1 176 1 206 1 164 1 533 1 613 1 598 1 478 1 657 1 552 1 714 1 564 1 758 1 691 1 699 1 582 1 739 1 664 1 685 1 558 1 811 1 725 1 735 1 612 -9% 3% 1% 6% 13% 11% 6% 0% -4% 3% -1% 0% 3% -3% 1% -1% -2% -1% -2% 4% 4% 3% 3% -40 -30 -20 -10 0% 10 20 30 40 0 200 400 600 800 1 000 1 200 1 400 1 600 1 800 2 000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2021 2022 2023 2024 2025 2026 Net Sales development, mSEK Net sales Organic growth 124 135 119 186 185 163 124 156 154 160 120 154 159 161 126 127 145 153 122 187 178 169 135 10,5% 11,2% 10,2% 12,2% 11,5% 10,2% 8,4% 9,4% 9,9% 9,3% 7,7% 8,8% 9,4% 9,5% 8,0% 7,3% 8,7% 9,1% 7,8% 10,3% 10,3% 9,7% 8,4% 0,0% 2,0% 4,0% 6,0% 8,0% 10,0 12,0 14,0 16,0 18,0 20,0 0 20 40 60 80 100 120 140 160 180 200 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2021 2022 2023 2024 2025 2026 Adj. EBITA development, mSEK Adj.EBITA Adj. EBITA margin
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Denmark Organic growth -15.1% (LY 1.5%) Adj EBITA- margin 3.0% (LY 3.2%) Share of Net Sales LTM 19% Q3 2026 • Negative organic growth of 15% in the quarter as expected due to ended contracts, which are estimated to impact also coming quarters negatively. • Adjusted EBITA for the quarter amounted to SEK 17 (21) million. The adjusted EBITA margin was 3.0 (3.2)%. • Right-sizing the staff to a, for the time being, lower Net Sales is progressing well. • The Danish business participated in several tenders. • The agreement with OPP Vejle has been extended in the third quarter. • IAC of 27 MSEK related to a previously communicated lost arbitration case with a customer related to 2022 and earlier, is booked in the quarter in line with what was communicated in quarter two. Negative organic growth due to previously communicated contract losses P & L Segments Key take awaysCash flow & Balance sheet FinancialsCEO update 474 498 508 591 606 655 659 732 766 758 728 771 742 726 672 746 703 672 663 672 591 570 562 3% 10% 6% 21% 23% 28% 24% 15% 18% 6% 0% 1% -4% -4% -5% -3% -5% -3% 2% -5% -12% -14% -15% -40 -30 -20 -10 0% 10 20 30 40 0 100 200 300 400 500 600 700 800 900 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2021 2022 2023 2024 2025 2026 Net Sales development, mSEK Net Sales Organic growth 24 33 23 24 27 34 18 30 31 34 27 41 36 32 23 13 34 27 21 20 22 16 175,1% 6,6% 4,6% 4,1% 4,4% 5,2% 2,8% 4,1% 4,1% 4,5% 3,8% 5,4% 4,9% 4,5% 3,5% 1,8% 4,8% 4,0% 3,2% 3,0% 3,7% 2,7% 3,0% 0,0% 1,0% 2,0% 3,0% 4,0% 5,0% 6,0% 7,0% 8,0% 9,0% 10,0 0 5 10 15 20 25 30 35 40 45 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2021 2022 2023 2024 2025 2026 Adj. EBITA development, mSEK Adj.EBITA Adj. EBITA margin
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Norway Organic growth -0.9% (LY 22.2%) Adj EBITA- margin 5.4% (LY 4.6%) Share of Net Sales LTM 20% Q3 2026 • Negative organic growth of 1 per cent mainly due to unusual high variable revenues in Q3 2025. • Adjusted EBITA for the quarter amounted to SEK 36 (29) million. The adjusted EBITA margin was 5.4 (4.6)%. • The new contracts continue to have a positive impact on volumes and profitability, which leads to a more balanced contract portfolio. During the quarter, these contracts largely offset the decline in variable volumes compared with last year. • In the third quarter IFM contracts has been signed, a new contract with Sandslimarka Bygg and the contracts with SiO and SR Bank were extended. Normalisation of variable volumes with a stable profitability P & L Segments Key take awaysCash flow & Balance sheet FinancialsCEO update 520 585 603 610 560 575 475 530 490 518 547 574 514 581 523 535 525 679 619 573 540 644 661 -11% 19% 16% 1% -2% -5% -27% -16% -9% -4% 18% 15% 8% 11% 1% -6% 5% 23% 22% 12% 5% -10% -0,9% -4 -3 -2 -1 0% 10 20 30 40 0 100 200 300 400 500 600 700 800 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2021 2022 2023 2024 2025 2026 Net Sales development, mSEK Net Sales Organic growth 35 41 43 28 28 30 18 24 21 19 18 23 18 27 19 24 20 37 29 25 20 35 36 6,8% 6,9% 7,1% 4,5% 5,1% 5,2% 3,9% 4,5% 4,2% 3,7% 3,3% 4,0% 3,5% 4,6% 3,7% 4,5% 3,7% 5,4% 4,6% 4,4% 3,7% 5,4% 5,4% 0,0% 1,0% 2,0% 3,0% 4,0% 5,0% 6,0% 7,0% 8,0% 9,0% 10,0 0 5 10 15 20 25 30 35 40 45 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2021 2022 2023 2024 2025 2026 Adj. EBITA development, mSEK Adj. EBITA Adj. EBITA margin
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Finland Organic growth 4.0% (LY 3.0%) Adj EBITA- margin 6.2% (LY 6.2%) Share of Net Sales LTM 5% Q3 2026 • Organic growth of 4 per cent. • Adjusted EBITA for the quarter amounted to SEK 11 (10) million. The adjusted EBITA margin was 6.2 (6.2)%. • Finland focus on further increasing their organic growth. Organic growth and improved profitability P & L Segments Key take awaysCash flow & Balance sheet FinancialsCEO update 160 155 155 167 177 153 154 169 170 172 176 184 177 174 166 171 160 164 166 168 158 169 173 3% 3% 0% 0% 7% -4% -5% -6% -10% 3% 4% 4% 4% 0% -3% -7% -9% -1% 3% 3% 4% 4% 4,0% -40% -30% -20% -10% 0% 10% 20% 30% 40% 0 20 40 60 80 100 120 140 160 180 200 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2021 2022 2023 2024 2025 2026 Net Sales development, mSEK Net sales Organic growth 4 5 13 3 3 2 8 0 1 2 10 2 0 3 10 2 0 3 10 2 -1 4 11 2,5% 3,2% 8,2% 1,8% 1,9% 1,0% 5,0% 0,2% 0,7% 1,2% 5,8% 1,2% 0,3% 1,5% 5,9% 1,0% 0,3% 1,7% 6,2% 1,1% 2,6% 6,2% -0,5% 1,5% 3,5% 5,5% 7,5% 9,5% -2 0 2 4 6 8 10 12 14 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2021 2022 2023 2024 2025 2026 Adj. EBITA development, mSEK Adj. EBITA Adj. EBITA margin
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Cash flow and Balance sheet Cash conversion at 87%. Leverage 2.3x P & L Segments Key take awaysCash flow & Balance sheet FinancialsCEO update
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Key take aways Another stable quarter with positive signs • The level of market activity remained high in the third quarter. • Organic growth in Sweden and Finland, unchanged in Norway and negative 15% in Denmark. • Continued improvement of adj. EBITA margins, 5.0 (4.5)% in Q3 and strong performance in Sweden, Norway as well as Finland. • Continued strong cash conversion, 87% LTM. • Improved leverage 2.3x adj. EBITDA. • The strategy implementation progresses as planned. • Positive development in Sweden, Finland and Norway, with continued stabilization efforts in Denmark. P & L Segments Key take awaysCash flow & Balance sheet FinancialsCEO update
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Q&A Coor creates the happiest, healthiest and most prosperous workplace environments in the Nordic region. We strive tirelessly to build the teams and full-service solutions that enable our customers to do what they do best.