Slides
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23 October 2026 Quarterly Report January – September 2026
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2 Group structure FY 2025 Annual net sales Employees Customer segments Europe (excl. UK) ~7.2 SEK billion (~0.7 EUR billion) ~4,100 Automotive, Electronics, Fashion, Health Care, Industrial, Other Asia ~1.6 SEK billion (~0.2 EUR billion) ~900 Electronics, Fashion, Health Care, Other UK ~1.4 SEK billion (~0.1 EUR billion) ~800 Automotive, Electronics, Fashion, Health Care, Industrial, Other Americas ~2.0 SEK billion (~0.2 EUR billion) ~1,100 Automotive, Electronics, Fashion, Health Care, Industrial, Other Annual net sales ~12.2 SEK billion (~1.2 EUR billion) ~20 ~7,000 >125 Employees Locations Countries Share of net sales 60% 10% 17% 13% Locations ~70 ~20 ~20 ~15
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3 Elanders’ customer segments Our customer segments’ approximate share of total net sales.* Electronics 26% Fashion 24% Other 17% Automotive 15% Industrial 13% Health Care 5% *As a percentage of total net sales FY 2025
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Operational highlights and financials Q3, 2026
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5 Third quarter 2026 Strong organic growth and continued improved result within our largest business area Supply Chain Solutions Organic growth of six percent, adjusted for Air & Sea organic growth of four percent. All regions & customer segments showed organic growth. Adjusted EBITA amounted to MSEK 210 (210). In line with last year but an increase of MSEK 29 compared to Q2 2026. Adjusted EBITA-margin at 6.9 (7.3) percent. Adjusted result before tax increased to MSEK 74 (67).
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6 Third quarter 2026 September 2026 Q3 2026 Q3 2025 Rolling 12m FY 2025 FY 2024 FY 2023 Rolling 60m Operating cash flow excl. acquisitions, MSEK 565 316 1,790 1,667 1,978 2,170 8,992 EBITDA, MSEK 447 433 1,932 1,817 2,197 1,967 9,763 Cash conversion, % 126% 73% 93% 92% 90% 110% 92% Cash conversion continued to be strong and came in at 126 (73) percent. Net debt excluding IFRS 16 decreased by MSEK 65. Working capital released MSEK 95, while adverse currency effects increased net debt by MSEK 82.
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7 Third quarter 2026 Strong organic growth and improved result & margin Organic growth of seven percent. Adjusted for Air&Sea growth of five percent. Europe and Asia had continued organic growth, but also the US and the UK developed positively. Adjusted EBITA margin continued to improve to 8.2 (7.9) percent. Adjusted EBITA in absolute terms improved with 12 percent. EBITA in absolute terms doubled. Cash conversion improved to 109 (105) percent. 79% (79%) Share of total net sales (rolling 12m) 92% (81%) Share of EBITA (rolling 12m) Supply Chain Solutions Key figures Q3 2026 Q3 2025 Net sales, MSEK 2,490 2,307 EBITA adjusted, MSEK 204 183 EBITA margin adjusted, % 8.2 7.9 EBITA, MSEK 204 102 EBITA margin, % 8.2 4.4 Cash conversion, % 109 105
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8 Third quarter 2026 A challenging quarter; actions taken Weak demand throughout the quarter resulting in flat organic growth. Similar to Q2, continued organic growth in online print and publishing could not compensate for declining Automotive volumes. Adjusted EBITA was lower than last year, mainly due to weak demand from Automotive sector in Germany. Structural measures in Germany & Poland expected to generate annual cost savings of approximately MSEK 57. Successful renegotiation of an important long-term Automotive customer contract. Print & Packaging Solutions 21% (21%) Share of total net sales (rolling 12m) 8% (19%) Share of EBITA (rolling 12m) Key figures Q3 2026 Q3 2025 Net sales, MSEK 592 593 EBITA adjusted, MSEK 17 36 EBITA margin adjusted, % 2.9 6.0 EBITA, MSEK -42 36 EBITA margin, % -7.1 6.0 Cash conversion, % 1) n/m 9 1) Cash conversion is not presented for the quarter as EBITDA was negative and the measure is therefore not considered meaningful.
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9 Electronics 27% Demand impacted by global memory chip shortage. Organic growth in the quarter of around one percent. Growth in both Asia and Europe. Fashion 24% Organic growth of around one percent in the quarter. Both Europe and North America showing signs of improvements in demand. Other 19% Organic growth of around 17 percent through growth in online print and FMCG in the UK. Automotive 12% Supply Chain Solutions organic growth of 25 percent. Print & Packaging Solutions negative organic growth of 35 percent. Consolidated seven percent growth. Industrial 13% Organic growth of around three percent. Mostly coming from Europe, negatively impacted by the UK. Health Care 5% Strong organic growth of around 19 percent, driven by Supply Chain Solutions in Europe, Asia and the UK. Customer segments Percentage of total net sales for the rolling 12 months as of September 30, 2026
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10 Going forward Following two consecutive quarters of improved results, the third quarter delivered another solid result combined with strong organic growth primarily driven by our largest business area Supply Chain Solutions. Despite continued challenges in the Automotive sector and the ongoing global memory chip shortage, we demonstrated strong resilience and generated strong organic growth in all regions. Particularly encouraging was the development in the US and the UK, where we could see positive developments through new clients and an increase in demand. Supply Chain Solutions continue to grow profitable across all regions and customer segments. This, combined with the structural measures and the renegotiated contract within our business area Print & Packaging makes us optimistic for the remainder of the year and going into 2027.
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Questions?
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12 This is Elanders Two business areas HQ Mölndal, Sweden NASDAQ OMX Stockholm Supply Chain Solutions 80% Print & Packaging Solutions 20% Global operations Number of employees ~7,000 ~20 Number of countries ~2.0M m2 of production and warehouse space >125 Number of locations ~12.2 SEK billion (~1.2 EUR billion) Annual net sales FY 2025
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13 Elanders’ business proposal We develop efficient end-to- end solutions that makes life easier for our customers. With our global footprint we can offer both local and global solutions and also help local companies to act global. When it comes to sustainability we always try to deliver the best solution for our clients and also to develop unique solutions when it comes to life cycle management. Our deep integration into our clients processes makes us a solid long time partner and we have been serving the majority of our big clients for more than 20 years. We have a very entrepreneurial approach to everything we do which makes it possible for us to deliver fast, flexible and bespoke solutions. 1 2 543
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14 Balanced mix of high-growth and durable customer segments Customer segment Growth opportunity Cyclicality Fashion High Medium Electronics High Medium Automotive Medium High Industrial Medium High Health Care High Low Other High Medium Fashion 24% Electronics 27% Health Care 5% Other 19% Industrial 13% Automotive 12% CUSTOMER SEGMENTS Key highlightsCustomer segments Percentage of total net sales for the rolling 12 months as of September 30, 2026
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15 Our end-to-end solution Diversified customer base channelled into unified processes creates opportunities for multi-sites and knowledge sharing which benefits our clients. Elanders’ customer segments Recipients Automotive Electronics Fashion Health CareIndustrial Consumers Retail Hospitals E-commerce Factories Other Production & Assembly Distribution & Outbound Services Procurement & Inbound Services Life Cycle Management
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16 Elanders’ growth opportunities RGB 0-83-165 RGB 10-51-71 RGB 225-202-164 RGB 213-212-203 RGB 94-148-82 RGB 188-228-239 OMNICHANNEL / E-COMMERCE LIFE CYCLE MANAGEMENT OUTSOURCING ONLINE PRINT Multi-channel sales Manage a product’s lifecycle Contract logistics Printed products ordered via e-commerce Target group B2B & B2C B2B & B2C B2B B2B & B2C Elanders USP CloudX, proprietary global WMS-system Network solution with own and external partners Global & Flexible One of the biggest players in Europe
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17 17 Sustainability – Key figures 36 thousand tonnes CO2e (FY 2025) Scope 1 & 2 emissions (Base year: 52,000 tonnes) 185 thousand tonnes CO2e (FY 2025) Scope 3 emissions (Base year: 229,000 tonnes) 27 percent (FY 2025) Percentage of female supervisors (2024: 29%) 66 percent (FY 2025) Percentage of renewable electricity (2024: 62%) 74 thousand tonnes CO2e (FY 2025) Emissions avoided within Life Cycle Management (2024: 44,000 tonnes) 6,864 persons (FY 2025) Average number of employees (2024: 7,324)
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Thank you!