Interim report
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1 INTERIM REPORT JANUARY– SEPTEMBER 2026 Third-quarter report 2026 Third quarter 2026 • Order intake decreased 9 per cent to SEK 424 million (467); organic order growth was -10 per cent. • Net sales increased 5 per cent to SEK 435 million (415); organic net sales growth was 4 per cent. • Operating profit (EBIT) increased 23 per cent to SEK 86 million (70). • The operating margin amounted to 19.9 per cent (16.9). • Profit for the quarter increased 32 per cent to SEK 69 million (52). • Basic and diluted earnings per share amounted to SEK 0.45 (0.33) and SEK 0.45 (0.33), respectively. January–September 2026 • Order intake increased 2 per cent to SEK 1,468 million (1,441); organic order growth was 3 per cent. • Net sales increased 13 per cent to SEK 1,567 million (1,391); organic net sales growth was 14 per cent. • Operating profit (EBIT) increased 9 per cent to SEK 272 million (248). Operating profit (EBIT), adjusted for items affecting comparability, amounted to SEK 285 million (248) and increased by 15 per cent. • The operating margin amounted to 17.4 per cent (17.8). The operating margin, adjusted for items affecting comparability, amounted to 18.2 per cent (17.8). • Profit for the period increased 25 per cent to SEK 219 million (175). • Basic and diluted earnings per share amounted to SEK 1.44 (1.12) and SEK 1.43 (1.11), respectively. Financial performance indicators for the Group¹ ¹ For more information, see the alternative performance measures and financial definitions section on pages 22-26 including a reconciliation of adjusted earnings measures including adjusted operating profit (adjusted EBIT), adjusted operating margin, adjusted ROCE and interest-bearing net debt/adjusted EBITDA. Jan-Dec 2026 2025 Δ% 2026 2025 Δ% 2025 Order intake, SEK million 424 467 -9 1,468 1,441 2 1,981 Net sales, SEK million 435 415 5 1,567 1,391 13 1,889 Gross profit, SEK million 174 177 -2 607 598 1 798 Gross margin, % 40.0 42.6 - 38.8 43.0 - 42.3 Operating profit, SEK million 86 70 23 272 248 9 321 Adjusted Operating profit, SEK million 86 70 23 285 248 15 321 Operating margin, % 19.9 16.9 - 17.4 17.8 - 17.0 Adjusted Operating margin, % 19.9 16.9 - 18.2 17.8 - 17.0 Profit/loss for the period, SEK million 69 52 32 219 175 25 223 Earnings per share, before dilution, SEK 0.45 0.33 37 1.44 1.12 28 1.44 Earnings per share, after dilution, SEK 0.45 0.33 37 1.43 1.11 29 1.43 Return on capital employed, % 41.2 40.0 - 41.2 40.0 - 35.9 Adjusted Return on capital employed, % 41.2 40.0 - 42.7 40.0 - 35.9 Equity/assets ratio, % 55.0 51.9 - 55.0 51.9 - 58.5 Q3 Jan-Sep Q32026
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Quarter report CEO’s comments Financial information Financial statements Notes to the accounts Quarterly overview Key performance indicators Interim Report January– September 2026 2 Recovery delayed – but our direction stays the same Another lost quarter has passed, and a heavy, wet blanket still remains over the global economy. The war in Ukraine and the problems in the Strait of Hormuz are continuing to create uncertainty, not least by impacting oil prices and our customers’ willingness to invest. Despite signs of increased construction activity and a pent-up need for investment in machinery, order intake has not picked up. Once again, we can only conclude that the recovery is taking its time, and I am far from satisfied. But our direction stays the same and work towards our financial targets is continuing. Mixed market trend Developments in our markets are mixed, and feature both stable and unexpectedly weak markets. Sweden is driving growth in the Nordic region. With a doubling of the number of excavators delivered year-on-year, sales have risen to historically high levels. The Netherlands continued to grow in line with increasing market penetration in Europe. While market conditions were challenging in the DACH region, the long-term outlook is positive. We are therefore pleased to have signed an agreement with OilQuick and Zero Degree as exclusive partners. The Schauer family, as owners, have done a great job over the years, and we are confident that this positive trend will continue. We held our first joint trade show in September. With the agreement in place, we can now take our partnership to the next level while reducing our own costs in the region. While turbulence in the global economy is dampening overall demand, the performance in France was unexpectedly poor. In part this is due to a low investment appetite, but we also bear a responsibility following a long period with the wrong focus and a protracted reorganisation process. Our markets outside Europe and the Nordic region make an important contribution, even though we have reduced both our focus and costs related to these regions. We are continuing to build stable organisations from the ground up, to be able to capture growth when the time is right. Order intake has not yet picked up and decreased organically by 10 per cent to SEK 424 million (467), while net sales increased organically by 4 per cent to SEK 435 million (415). The gross margin fell to 40.0 per cent (42.6), mainly due to a larger share of sales in the Nordic region and lower capacity utilisation in production. However, operating profit increased to SEK 86 million (70), corresponding to an operating margin of 19.9 per cent (16.9). Favourable currency effects played a big part, while a slight improvement in cost efficiency in the rest of the organisation also made a contribution. Return on capital employed amounted to 41.2 per cent, which exceeds our financial target. This is positive, but we are still not seeing increased demand Journey continues towards our financial targets We want to be the preferred choice for our end-customers, and we have therefore strengthened our end-customer marketing and e-commerce organisation. We will continue to adapt our product portfolio to the prevailing market, and will review our pricing before the end of the year. Our most advanced Series 3 tiltrotator is tailored for the mature Nordic markets, where it has been well received. In the fourth quarter, we will begin delivering simpler, locally adapted control systems to our emerging markets. Regarding our sustainability activities, we have implemented concrete actions to reduce our use of fossil fuels. To the greatest extent possible, heating of our premises should be fossil-free and international travel should be minimised, with shorter trips taken by train instead. Our own vehicles should operate on electricity or HVO, and our ambition is to make it easier for our employees to choose renewable fuels. These measures are not aimed at optimising our bottom line – they are our contribution to the survival of the planet. Like much of the manufacturing industry, we currently have excess production capacity in Strömsund and Poznan. We are using this time to identify and verify new suppliers, train our personnel and complete rebuilding and investments. At the same time, we have chosen to retain the necessary capacity and expertise to be able to meet demand when it picks up. We are continuing to create the conditions for profitable growth, and our efficiency activities are ongoing and are starting to show in the form of lower operating costs and reduced inventory levels. The global economy continues to face many challenges, and the recovery is taking its time. We are not satisfied with this, but cannot control events in our macro environment. However, we will make sure we stay on top of the areas within our control. We are “digging where we stand”, focusing on growing sales, adapting products and reducing costs so we are better equipped when conditions improve.” Stig Engström President and CEO CEO’S comments We are “digging where we stand” and focusing on growing sales, adapting products and reducing costs so we are better equipped when conditions improve.”
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Quarter report CEO’s comments Financial information Financial statements Notes to the accounts Quarterly overview Key performance indicators Interim Report January– September 2026 3 Group’s financial performance Order intake Order intake during the quarter amounted to SEK 424 million (467), a decrease of 9 per cent (27), and organic order intake growth was -10 per cent (31). The change pertains to currency effects. The Nordic region reported an increase, while other regions noted lower order intake for the quarter. Order intake during the period amounted to SEK 1,468 million (1,441), up 2 per cent (19), and organic order growth increased 3 per cent (22). The change pertains to currency effects. The Nordic region and the Americas noted a higher order intake while Europe and Asia-Oceania reported a lower order intake for the period. Order intake by quarter, SEK million Share of net sales by geographic region in Q3 Order intake SEK million 2026 Organic 2025 Δ Δ Organic Δ% Organic Nordic region 183 180 167 16 13 8% Europe 165 165 206 -41 -41 -20% Americas 37 36 45 -8 -9 -20% Asia-Oceania 38 37 49 -10 -12 -26% Total 424 418 467 -43 -48 -10% Q3 Order intake SEK million 2026 Organic 2025 Δ Δ Organic Δ% Organic Nordic region 659 663 589 70 74 12% Europe 564 575 593 -29 -18 -2% Americas 140 148 141 -2 7 4% Asia-Oceania 105 105 118 -13 -13 -11% Total 1,468 1,491 1,441 26 50 3% Jan-Sep 467 539 557 487 424 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 Nordic region, 48% Europe, 38% Americas, 8% Asia-Oceania, 6% engcon Group’s operations are conducted and reported as a single segment. As further disclosures, order intake and net sales are reported based on the Group’s geographic regions: Nordic region, Europe (excl. the Nordic region), the Americas and Asia-Oceania, which includes the rest of the world.
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Quarter report CEO’s comments Financial information Financial statements Notes to the accounts Quarterly overview Key performance indicators Interim Report January– September 2026 4 Net sales Net sales during the quarter amounted to SEK 435 million (415), an increase of 5 per cent (1) and organic net sales growth of 4 per cent (4). Net sales increased in all regions except for the Americas, with Asia-Oceania accounting for the largest increase in percentage terms. Net sales during the period amounted to SEK 1,567 million (1,391), an increase of 13 per cent (11) and organic net sales growth of 14 per cent (14). Net sales increased in the Nordic region and Europe, with the former accounting for the largest percentage increase. The Americas and Asia-Oceania saw a decline in net sales for the period. Net sales SEK million 2026 Organic 2025 Δ Δ Organic Δ % Organic Nordic region 203 201 173 30 28 16% Europe 168 168 163 5 5 3% Americas 34 33 56 -22 -22 -40% Asia-Oceania 30 29 24 6 5 22% Total 435 431 415 19 16 4% Q3 Net sales SEK million 2026 Organic 2025 Δ Δ Organic Δ % Organic Nordic region 750 752 599 151 153 26% Europe 599 607 542 57 65 12% Americas 127 135 152 -26 -17 -11% Asia-Oceania 91 89 98 -8 -10 -10% Total 1,567 1,583 1,391 176 192 14% Jan-Sep Net sales by quarter, SEK million EBIT SEK million and EBIT margin by quarter Adjusted EBIT and EBIT margin by quarter 415 498 539 594 435 Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 70 72 84 102 86 16.9% 14.5% 15.7% 17.2% 19.9% Q3-25 Q4-25 Q1-26 Q2-26 Q3-26 70 72 84 115 86 16.9% 14.5% 15.7% 19.4% 19.9% Q3-25 Q4-25 Q1-26 Q2-26 Q3-26
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Quarter report CEO’s comments Financial information Financial statements Notes to the accounts Quarterly overview Key performance indicators Interim Report January– September 2026 5 Third quarter 2026 Gross earnings for the quarter amounted to SEK 174 million (177), a decrease of 2 per cent (-7). The gross margin amounted to 40.0 per cent (42.6) with the decline primarily attributable to a less favourable market mix and lower cost absorption in production. Other operating income and costs amounted to SEK 18 million (-1), which included positive currency effects of SEK 15 million (-4). Operating profit (EBIT) amounted to SEK 86 million (70), an increase of 23 per cent (-23). The operating margin was 19.9 per cent (16.9). The operating margin was impacted by higher sales and positive currency effects. Net financial items for the quarter amounted to SEK 2 million (-6), which included effects from exchange rate differences of SEK 5 million (-2). Profit before tax for the quarter amounted to SEK 88 million (65). Income tax for the quarter was SEK -19 million (-12). The effective tax rate amounted to 21.6 per cent (19.0). Total earnings after tax for the third quarter amounted to SEK 69 million (52). January – September 2026 Gross earnings during the period amounted to SEK 607 million (598), an increase of 2 per cent (7). The gross margin amounted to 38.8 per cent (43.0) with the decline primarily attributable to negative currency effects and a less favourable product and market mix together with a maintained production capacity. Other operating income and costs amounted to SEK 31 million (-13), which included positive currency effects of SEK 25 million (-21). Operating profit (EBIT) amounted to SEK 272 million (248), an increase of 9 per cent (7). The operating margin amounted to 17.4 per cent (17.8). This includes items affecting comparability of SEK 13 million (0). These were related to restructuring costs (mainly personnel costs) in conjunction with the change of CEO on 1 May and changes to Group management. Operating profit (EBIT) adjusted for items affecting comparability during the period amounted to SEK 285 million (248), an increase of 15 per cent (7). The adjusted operating margin was 18.2 per cent (17.8). The operating margin, adjusted for items affecting comparability, was impacted by higher sales, lower other costs and positive currency effects. Net financial items for the period amounted to SEK 4 million (-28), which included effects from exchange rate differences of SEK 13 million (-18). Profit before tax for the period amounted to SEK 276 million (220). Income tax for the period was SEK -57 million (-45). The effective tax rate amounted to 20.7 per cent (20.5). Total earnings after tax for the period amounted to SEK 219 million (175). Investments and depreciation/amortisation Investments in intangible and tangible assets and right-of-use assets amounted to SEK 56 million (10) for the quarter and SEK 88 million (52) for the period. The investments were mainly attributable to the acquisition of a property in Poland and an expansion of production space. Depreciation and amortisation of tangible and intangible assets amounted to SEK 15 million (13) for the quarter and SEK 46 million (39) for the period. Cash flow Cash flow from operating activities amounted to SEK 96 million (42) for the quarter and SEK 321 million (75) for the period. The positive year-on-year change is mainly due to the strong operating profit (EBIT) and positive currency effects. Cash flow from investing activities amounted to SEK -59 million (-10) for the quarter and SEK -87 million (-28) for the period. The investments were mainly attributable to the acquisition of a property in Poland and an expansion of production space in Strömsund. Cash flow from financing activities amounted to SEK -38 million (-38) for the quarter and SEK -216 million (-116) for the period. During the period, cash flow was negatively impacted by acquisitions of minority stakes in subsidiaries and acquisition of own shares. A dividend was also paid to shareholders during the period totalling SEK -76 million (-77). Total cash flow from operations amounted to SEK -1 million (-6) for the quarter and SEK 18 million (-69) for the period. Earnings Jan-Dec 2026 2025 Δ% 2026 2025 Δ% 2025 Order intake, SEK million 424 467 -9 1,468 1,441 2 1,981 Net sales, SEK million 435 415 5 1,567 1,391 13 1,889 Gross profit, SEK million 174 177 -2 607 598 1 798 Gross margin, % 40.0 42.6 - 38.8 43.0 - 42.3 Operating profit, SEK million 86 70 23 272 248 9 321 Adjusted Operating profit, SEK million 86 70 23 285 248 15 321 Operating margin, % 19.9 16.9 - 17.4 17.8 - 17.0 Adjusted Operating margin, % 19.9 16.9 - 18.2 17.8 - 17.0 Q3 Jan-Sep
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Quarter report CEO’s comments Financial information Financial statements Notes to the accounts Quarterly overview Key performance indicators Interim Report January– September 2026 6 Inventory amounted to SEK 474 million on 30 September 2026 compared with SEK 477 million on 31 December 2025. Accounts receivable increased to SEK 315 million on 30 September 2026 compared with SEK 257 million on 31 December 2025. The increase is due to higher sales. On 30 September 2026, net debt/net cash amounted to SEK 88 million compared with SEK 219 million on 31 December 2025. As per 30 September, SEK 74 million of the bank overdraft facility had been drawn compared with SEK 151 million on 31 December 2025. Equity increased compared with 31 December 2025 and the equity/assets ratio amounted to 55.0 per cent on 30 September 2026 compared with 58.5 per cent on 31 December 2025. The Group had unutilised credit facilities of SEK 297 million at the end of the period compared with SEK 156 million on 31 December 2025. Including cash and cash equivalents, the Group’s unutilised total liquidity amounted to SEK 378 million (293). The Group’s existing credit facility amounted to SEK 371 million (321). Financial position and return 30 Sep 30 Sep 31 Dec 2026 2025 2025 Total borrowing, SEK million 21 26 25 Bank overdraft facilities, SEK million 70 71 151 Total lease liabilities, SEK million 75 88 85 Cash and cash equivalents, SEK million -78 -42 -42 Net debt (+) / Net cash (-), SEK million 88 144 219 Equity, SEK million 752 664 708 Equity/assets ratio, % 55.0 51.9 58.5 Return on capital employed, % 41.2 40.0 35.9 Adjusted return on capital employed, % 42.7 40.0 35.9
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Quarter report CEO’s comments Financial information Financial statements Notes to the accounts Quarterly overview Key performance indicators Interim Report January– September 2026 7 Events in the quarter Third quarter • On 7 September, engcon entered into an agreement with OilQuick and Zero Degree that strengthens collaboration in the DACH region. • No other material events took place during the quarter. Events after the end of the quarter • On 22 October, an agreement was signed for a mortgage loan of SEK 27 million and an asset-specific loan of SEK 10 million. • No other material events have taken place after the end of the quarter. Financial targets, sustainability targets and dividend policy Net sales growth • engcon’s objective is to exceed the growth in the existing markets through organic growth. This is currently estimated to represent 20 per cent growth. Profitability • engcon’s target is an operating margin (EBIT margin) in excess of 20 per cent measured over a business cycle. Capital efficiency • engcon will continue to achieve an industry-leading capital efficiency. Return on capital employed (ROCE) to exceed 40 per cent measured over a business cycle. Capital structure • engcon will maintain a strong capital structure supporting further expansive organic growth and dividends to shareholders. Equity/assets ratio to be above 35 per cent. Dividend policy • engcon will pay approximately 50 per cent of net profit in dividends. The dividend proposal will consider engcon’s long-term development potential, financial position and investment needs. Sustainability targets • engcon contributes to climate change mitigation through its products, aiming to enable a reduction in emissions equivalent to 74 Mt CO2e during the 2021–2030 period. For more information, see the 2025 Annual and Sustainability Report page 27.
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Quarter report CEO’s comments Financial information Financial statements Notes to the accounts Quarterly overview Key performance indicators Interim Report January– September 2026 8 Other information Risks and uncertainties engcon is, by way of its operations, exposed to various risks that may give rise to variations in earnings and cash flow. Significant risks and uncertainties include industry and market risks, operational risks and financial risks. Risks and uncertainties are consistent with the description contained in the 2025 Annual Report, pages 45–50, with the addition of what is stated below. The Annual Report is available at www.engcongroup.com. Although the prevailing global situation had some impact on engcon’s operations during the period, engcon will be further affected going forward. The uncertainty related to the prevailing external and economic situation with inflation, higher interest rates, currency effects and geopolitical turbulence with increased tariffs and trade restrictions could entail a negative impact for engcon in the form of a decline in demand, a cautious approach to placing orders and supply chain disruptions. The Board and Group management continue to closely monitor developments and the potential effects these could lead to. Acquisition of non-controlling interests In April, it was announced that engcon AB had entered into an agreement to acquire all shares not already owned by engcon in the subsidiary engcon Component AB. The purpose of this was to create a more efficient and uniform Group structure. The purchase price for the shares in the subsidiary amounted to the equivalent of approximately SEK 27 million and was paid in cash. engcon Component will be included as a wholly owned subsidiary of the Group as of 30 April 2026. Items affecting comparability During the period, items affecting comparability arose in conjunction with the change in CEO and subsequent changes to Group management, primarily relating to restructuring costs (mainly personnel costs). The items affecting comparability for the quarter amounted to SEK 0 million (0) and for the period to SEK -13 million (0). Lawsuit On 15 September 2025, engcon AB received lawsuits against engcon and its subsidiaries regarding alleged infringement of Rototilt’s patent. Rototilt has previously initiated legal proceedings against the same engcon companies for alleged infringement of the same patent. In March 2025, the Swedish Patent and Market Court of Appeal announced that there was no patent infringement by engcon or its subsidiaries and dismissed Rototilt’s action. That judgment has become final. On 2 April 2026, the Swedish Patent and Market Court found that all of Rototilt’s submitted claims are covered by the previous judgment’s binding effect and therefore dismissed the majority of Rototilt’s claims. A minor part of Rototilt’s action relating to damages and corrective measures for the period after the date of the previous judgment, i.e. after 27 March 2025, has not been dismissed. On 7 May 2026, engcon AB appealed the part of the decision where the court had not dismissed Rototilt’s claim concerning the period following the earlier judgment. Meanwhile, Rototilt has appealed other parts of the Swedish Patent and Market Court’s decision. The Swedish Patent and Market Court of Appeal has granted review dispensation to both parties. In consultation with experts in the field of patent law engaged by engcon as well as with legal advisors, engcon has assessed that Rototilt’s claim is covered by the previous judgment’s binding effect and in the case has therefore sought that Rototilt’s lawsuit be dismissed Regarding the substance of Rototilt’s claim, in consultation with experts engaged by engcon and with legal advisors, engcon has made the assessment that no patent infringement has taken place. Engcon has not made any provision for the dispute in its accounts. The case will be considered by the Swedish Patent and Market Court of Appeal during the first half of 2027. Employees The average number of full-time employees at the end of the quarter amounted to 455 (436), of whom 24 per cent (23) were women and 76 per cent (77) men. Seasonal variations Seasonal variations have little impact on engcon’s operations and diminish successively on account of sales in several markets, which contributes to a more even earnings trend over the course of the year. The fourth quarter typically has less net sales as a result of lower digging in several of engcon’s markets. The fourth quarter is normally characterised by a somewhat higher order intake as an effect of forthcoming price increases. Share capital and shareholders The company’s registered share capital at 30 September 2026 amounted to SEK 21,347,599, distributed among 35,344,778 Class A shares and 117,138,049 Class B shares. The shares have a quotient value of SEK 0.14 per share. Each Class A share represents ten votes and each Class B share one vote. On 30 September 2026, there were 11,377 shareholders in the company. The company’s largest shareholder on 30 September 2026 was the company’s founder, and CEO, Stig Engström, through the company Ommapo förvaltning AB, which controlled 35.3 per cent of the capital and 67.0 per cent of the votes. The second largest shareholder was Monica Engström, through the company Monen Group AB, which controlled 31.8 per cent of the capital and 22.4 per cent of the votes. Following these, Capital Group, the Fourth Swedish National Pension Fund, C WorldWide Asset Management, Carnegie Fonder, the Third Swedish National Pension Fund, Odin Fonder, M&G Investment Management and Handelsbanken Fonder were engcon’s largest shareholders. As of 22 October 2026, Capital Group flagged that its shareholdings had increased to 5.0 per cent of capital and 1.6 per cent of votes. For more information about ownership structure, see www.engcongroup.com. Parent Company The Parent Company’s net sales amounted to SEK 6 million (8) for the quarter and SEK 20 million (26) for the period. Operating loss (EBIT) amounted to SEK -11 million (-9) for the quarter and SEK -45 million (-36) for the period. Loss for the quarter was SEK -7 million (-3) and SEK -6 million (-32) for the period. During the quarter, the Parent Company received a dividend of SEK 13 million (4). For the period, the Parent Company has received dividends of SEK 24 million (5). Earnings for the quarter and for the period were positively impacted by currency effects. During the period, the Parent Company acquired shares in subsidiaries for SEK 27 million (125). For more information, see the “Acquisition of non-controlling interests” section. Amounts and dates Amounts are presented in SEK million unless otherwise indicated. All comparative figures pertain to the same period of the preceding year. Rounding differences may occur.
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Quarter report CEO’s comments Financial information Financial statements Notes to the accounts Quarterly overview Key performance indicators Interim Report January– September 2026 9 Signing of the report The Board of Directors and CEO give their assurance that this interim report provides a true and fair account of the company’s and the Group’s operations, financial position and earnings, and that it describes the significant risks and uncertainties faced by the company and those companies that form the Group. engcon AB Approved and signed Strömsund, 29 October 2026 Annika Bäremo Chairman Anna Stålenbring Board member Peter Hofvenstam Board member Monica Engström Board member Stig Engström Board member and CEO For more information, please contact: Audiocast presentation of the interim report Financial calendar 2026/2027 Stig Engström, President and CEO +46 70 326 75 09 stig.engstrom@engcon.se Marcus Asplund, CFO +46 72 601 37 17 marcus.asplund@engcon.se Linda Berg, Investor Relations Manager +46 70 358 53 93 linda.berg@engcon.se engcon will present the report via an audiocast on 29 October at 10:00 a.m. CET. To participate, use this link: https://events.inderes.com/engcon/q3- report-2026 To participate via a telephone conference, use the link below: https://events.inderes.com/engcon/q3- report-2026/dial-in The presentation is available at www.engcongroup.com. Year-end Report 2026 16 February 2027 Annual and Sustainability Report 2026, week beginning 22 March 2027 Interim Report January–March 2027, 28 April 2027 Interim Report January–June 2027, 16 July 2027 Financial statements are available in their entirety at engcon’s website www.engcongroup.com. Publication This interim report comprises such information that engcon AB is obligated to publish in accordance with the EU Market Abuse Regulation. This information was published through the auspices of the persons named above on 29 October 2026 at 8.00 a.m. CET.
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Quarter report CEO’s comments Financial information Financial statements Notes to the accounts Quarterly overview Key performance indicators Interim Report January– September 2026 10 Review Report Introduction We have reviewed the interim report for engcon AB for the period January 1 - September 30, 2026 and for the nine-month period then ended. The Board of Directors and the President are responsible for the preparation and presentation of this interim report in accordance with IAS 34 and the Annual Accounts Act. Our responsibility is to express a conclusion on this interim report based on our review. Scope of Review We conducted our review in accordance with the International Standard on Review Engagements ISRE 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity. A review consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review has a different focus and is substantially less in scope than an audit conducted in accordance with ISA and other generally accepted auditing practices. The procedures performed in a review do not enable us to obtain a level of assurance that would make us aware of all significant matters that might be identified in an audit. Therefore, the conclusion expressed based on a review does not give the same level of assurance as a conclusion expressed based on an audit. Conclusion Based on our review, nothing has come to our attention that causes us to believe that the interim report is not, in all material respects, prepared for the Group in accordance with IAS 34 and the Annual Accounts Act, and for the Parent Company in accordance with the Annual Accounts Act. Stockholm, date as per digital signature Deloitte AB Signature on Swedish original Jonas Ståhlberg, Authorized Public Accountant
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Quarter report CEO’s comments Financial information Financial statements Notes to the accounts Quarterly overview Key performance indicators Interim Report January– September 2026 11 Condensed consolidated income statement Rounding may entail that columns/rows do not tally. Jan-Dec SEK million 2026 2025 2026 2025 2025 Net sales 435 415 1,567 1,391 1,889 Cost of goods sold -261 -239 -960 -793 -1,090 Gross profit 174 177 607 598 798 Selling costs -64 -65 -205 -203 -272 Administrative costs -27 -27 -113 -95 -132 Research and development costs -13 -13 -49 -39 -55 Other operating income and operating expenses 18 -1 31 -13 -19 Operating profit 86 70 272 248 321 Profit/loss from financial items Net financial items 2 -6 4 -28 -30 Profit/loss before tax 88 65 276 220 290 Income tax -19 -12 -57 -45 -67 Profit/loss for the period 69 52 219 175 223 Total profit/loss for the period 69 52 219 175 223 Total profit/loss for the period: Attributable to: Parent Company shareholders 69 50 219 170 218 Non-controlling interest - 2 0 5 5 Earnings per share, total (SEK) Before dilution 0.45 0.33 1.44 1.12 1.44 After dilution 0.45 0.33 1.43 1.11 1.43 Q3 Jan-Sep
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Quarter report CEO’s comments Financial information Financial statements Notes to the accounts Quarterly overview Key performance indicators Interim Report January– September 2026 12 Condensed consolidated statement of comprehensive income of cash flows Rounding may entail that columns/rows do not tally. Jan-Dec SEK million 2026 2025 2026 2025 2025 Total profit/loss for the period 69 52 219 175 223 Other comprehensive income Items that may be reversed to profit or loss: Exchange-rate differences upon translation of foreign operations 7 -3 16 -16 -22 Comprehensive income for the period 76 49 235 158 201 Attributable to: Parent Company shareholders 76 47 236 154 196 Non-controlling interest - 2 0 4 5 Q3 Jan-Sep
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Quarter report CEO’s comments Financial information Financial statements Notes to the accounts Quarterly overview Key performance indicators Interim Report January– September 2026 13 Condensed consolidated balance sheet Rounding may entail that columns/rows do not tally. 30 Sep 30 Sep 31 Dec SEK million 2026 2025 2025 Assets Fixed assets Goodwill 22 22 22 Other intangible assets 94 97 98 Right-of-use assets 66 84 81 Property plant and equipment 211 145 145 Other non-current receivables 6 5 5 Deferred tax receivables 11 8 11 Total non-current assets 410 362 363 Current assets Inventories 474 493 477 Accounts receivable 315 290 257 Current tax assets 22 26 15 Other receivables 36 34 33 Prepaid expenses and accrued income 34 33 22 Cash and cash equivalents 78 42 42 Total current assets 958 918 847 Total assets 1,368 1,280 1,210 Equity and liabilities Share capital 21 21 21 Translation reserve 18 7 2 Retained earnings including profit for the year 712 613 662 Equity attributable to Parent Company shareholders 752 641 685 Non-controlling interest - 23 23 Total equity 752 664 708 Non-current liabilities Deferred tax asset 29 24 35 Lease liabilities 48 64 61 Provisions product warranty 9 7 8 Other provisions 6 - 1 Total non-current liabilities 91 96 104 Current liabilities Trade payables 118 150 58 Current tax liabilities 35 9 8 Lease liabilities 27 24 24 Borrowings 21 26 25 Overdraft facility 70 71 151 Provisions product warranty 32 25 27 Other liabilities 125 120 43 Accrued expenses and deferred income 97 95 62 Total current liabilities 525 520 398 Total liabilities 616 616 502 Total equity and liabilities 1,368 1,280 1,210
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Quarter report CEO’s comments Financial information Financial statements Notes to the accounts Quarterly overview Key performance indicators Interim Report January– September 2026 14 Condensed consolidated statement of changes in equity Rounding may entail that columns/rows do not tally. SEK million Share capital Translation reserve Retained earnings including profit for the year Equity attributable to owners of the parent company Non- controlling interests Total equity Opening balance 1 January 2025 21 23 649 693 39 732 Profit/loss for the period - - 170 170 4 174 Other comprehensive income - -16 - -16 -16 Total comprehensive income - -16 170 154 4 158 Transactions with shareholders: Dividends to shareholders - - -152 -152 -1 -153 Changes in non-controlling interests - - -106 -106 -20 -125 Rights issue - - 63 63 - 63 Acquisition of own shares - - -12 -12 - -12 Total transactions with shareholders - - -206 -206 -20 -226 Closing balance 30 September 2025 21 7 613 641 23 663 Profit/loss for the period - - 49 49 - 49 Other comprehensive income - -5 - -5 - -5 Total comprehensive income - -5 49 44 - 44 Changes in non-controlling interests - - - -0 - -0 Incentive program - - 1 1 - 1 Total transactions with shareholders - - 1 1 - 1 Closing balance 31 December 2025 21 2 662 685 23 708 SEK million Share capital Translation reserve Retained earnings including profit for the year Equity attributable to owners of the parent company Non- controlling interests Total equity Opening balance 1 January 2026 21 2 662 685 23 708 Profit/loss for the period - - 219 219 - 219 Other comprehensive income - 16 - 16 - 16 Total comprehensive income - 16 219 235 - 235 Transactions with shareholders: Dividends to shareholders - - -152 -152 - -152 Changes in non-controlling interests¹ - - -6 -6 -23 -28 Acquisition of own shares - - -12 -12 - -12 Incentive program - - 2 2 - 2 Total transactions with shareholders - - -169 -169 -23 -191 Closing balance 30 September 2026 21 18 712 752 0 752 ¹For more information, see section "Acquisition of non-controlling interests" on page 8.
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Quarter report CEO’s comments Financial information Financial statements Notes to the accounts Quarterly overview Key performance indicators Interim Report January– September 2026 15 Condensed consolidated statement of cash flows Rounding may entail that columns/rows do not tally. Jan-Dec SEK million 2026 2025 2026 2025 2025 Operating profit 86 70 272 248 321 Adjustments for non-cash items: Amortisation and depreciation 15 15 46 40 55 Other adjustments 5 -1 32 -13 -15 Net financial items (paid/received interest) -7 -1 -14 -7 -2 Income tax paid -14 -13 -43 -59 -63 Cash flow from operating activities before changes in working capital 85 70 293 209 296 Changes in working capital Decrease/increase in inventories 17 -47 3 -154 -138 Decrease/increase in trade receivables 45 33 -58 -63 -30 Decrease/increase in other receivables -4 -20 -13 -13 -2 Increase/decrease in trade payables -20 -2 60 67 -25 Increase/decrease in other liabilities -27 8 36 29 -6 Cash flow from operating activities 96 42 321 75 95 Investing activities Acquistion of intangible assets - -3 -3 -13 -16 Acquisition of tangible assets -59 -7 -83 -15 -21 Acquisition of financial assets - - -1 - - Cash flow from (-used in) investing activities -59 -10 -87 -28 -37 Financing activities Change in overdraft facilities -31 -28 -81 71 151 Loan repayments -2 -2 -4 -7 -8 Amortisation of lease liabilities -5 -8 -16 -28 -35 Dividends to shareholders - - -76 -77 -153 Acguisiton of own shares - - -12 -12 -12 Acquisiton of non-controlling interests - - -27 -63 -63 Cash flow from financing activities -38 -38 -216 -116 -120 Cash flow for (-used in) the period -1 -6 18 -69 -62 Cash and cash equivalents at beginning of period 70 52 42 132 132 Exchange rate fluctuations in cash and cash equivalents 9 -4 18 -21 -28 Cash and cash equivalents at end of period 78 42 78 42 42 Q3 Jan-Sep
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Quarter report CEO’s comments Financial information Financial statements Notes to the accounts Quarterly overview Key performance indicators Interim Report January– September 2026 16 Condensed Parent Company income statement Condensed Parent Company balance sheet Jan-Dec SEK million 2026 2025 2026 2025 2025 Net sales 6 8 20 26 34 Cost of goods sold -1 -1 -4 -2 -4 Gross profit 5 7 16 24 30 Selling costs -1 -1 -2 -5 -6 Administrative costs -14 -14 -53 -46 -60 Research and development costs -2 -3 -7 -10 -12 Other operating income and operating expenses 1 2 1 1 -2 Operating profit -11 -9 -45 -36 -50 Profit/loss from financial items Net financial items 16 4 31 -6 51 Income after financial items 5 -5 -14 -42 1 Appropriations - - - - 218 Income tax 2 2 8 10 -38 Profit/loss for the period 7 -3 -6 -32 181 Q3 Jan-Sep 30 Sep 30 Sep 31 Dec SEK million 2026 2025 2025 Assets Fixed assets 378 333 329 Current assets 357 333 610 Total assets 735 666 939 Equity and liabilities Equity 225 182 396 Untaxed reserves and non-current liabilities 226 160 221 Current liabilities 284 324 322 Total liabilities 510 484 543 Total equity and liabilities 735 666 939
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Quarter report CEO’s comments Financial information Financial statements Notes to the accounts Quarterly overview Key performance indicators Interim Report January– September 2026 17 Notes to the accounts NOTE 1. ACCOUNTING POLICIES engcon’s consolidated financial statements have been prepared in accordance with the International Financial Reporting Standards (IFRS) as approved by the EU. This interim report has been prepared in accordance with IAS 34 Interim Financial Reporting and applicable rules in the Swedish Annual Accounts Act. The Parent Company’s interim report has been prepared in accordance with the Swedish Annual Accounts Act and Recommendation RFR 2 Financial Reporting for Legal Entities of the Swedish Financial Reporting Board. Disclosures according to IAS 34 are provided in the notes and elsewhere in the interim report. The accounting policies applied in the preparation of this interim report apply to all periods and correspond with the accounting policies presented in engcon’s 2025 Annual Report, Note 2 Accounting policies. No new and revised standards and interpretations that came into force on 1 January 2026 have had any material impact on engcon’s financial statements. As of 1 January 2026, the incentive programme is recognised in equity under retained earnings including profit for the year. The incentive programme was previously recognised on a separate line. As of 1 January 2027, IFRS 18 will replace IAS 1 and contains new presentation requirements for financial statements. These requirements will entail in a new structure for the income statement, with a different breakdown and consolidation of financial information to ensure better comparability, consistency and a fair presentation of a company’s assets, liabilities, equity, revenue and expenses. The standard will apply to financial years beginning on 1 January 2027. On the transition date, the company will apply the new presentation and disclosure requirements retroactively to all periods presented. Since the standard affects only the requirements for presentation and disclosures, and not the measurement of any items in the financial statements, it will not impact retained earnings as of the transition date. The most significant impact concerns the presentation of the income statement, and certain items, such as exchange rate differences, will be classified differently. New sub-totals will also be introduced, including operating profit. Comparative information for previous years will therefore be restated. A project is in progress to assess the impact on the presentation of financial statements. NOTE 2. KEY ASSESSMENTS AND ESTIMATES The preparation of financial statements requires management to make assessments and estimates in addition to the assessments that impact the application of the accounting policies and the recognised amounts of assets, liabilities, revenue and expenses. Actual outcomes may differ from those estimates. The assessments and sources of uncertainty in the estimates correspond with those presented in the most recent annual report. For more details on key assessments and estimates, refer to Note 3 of the 2025 Annual Report. Engcon could continue to be impacted by the prevailing business environment and macro-economic situation with increasing inflation and interest-rate hikes as well as increased tariffs and other trade restrictions; for more information, refer to page 8 in the Risks and uncertainties section. NOTE 3. EARNINGS PER SHARE The above table shows the number of shares and earnings per share before and after dilution. As of 30 September 2026, holdings of own shares amounts to 298,000. The average number of shares corresponds to the number of shares outstanding at the beginning of the period, adjusted by the number of shares issued or repurchased during the period weighted by the number of days the shares were outstanding in relation to the total number of days in the period. The calculation of earnings per share adjusted for items affecting comparability can be found on page 23. Jan-Dec 2026 2025 2026 2025 2025 Total: Total profit/loss for the period attributable to shareholders of the Parent Company, SEK million 69 50 219 170 219 Average number of shares outstanding 152,738,634 152,482,827 152,605,577 152,181,499 152,287,445 Basic earnings per share, SEK 0.45 0.33 1.44 1.12 1.44 Total profit/loss for the period attributable to shareholders of the Parent Company, SEK million 69 50 219 170 219 Average number of shares outstanding 152,947,343 153,169,751 152,848,281 152,940,439 153,082,525 Diluted earnings per share, SEK 0.45 0.33 1.43 1.11 1.43 Q3 Jan-Sep
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Quarter report CEO’s comments Financial information Financial statements Notes to the accounts Quarterly overview Key performance indicators Interim Report January– September 2026 18 NOTE 4. SEGMENT REPORTING AND ALLOCATION OF REVENUE Operating segments are accounted for in a way that is consistent with the internal reports submitted to the chief operating decision maker. Group management and the CEO have been identified as the chief operating decision makers for assessment of the Group’s earnings and position, as well as making strategic decisions. Group management and the CEO monitor the financial development in the Group as a unit. Accordingly, only one segment is recognised, which corresponds with the consolidated income statement. The reason that the Group is monitored as a segment is that earnings measures are only monitored at total level, since production and other overall costs are central for the Group and not distributed among the geographic regions. Only the regions’ sales and order intake in volume are monitored at a level lower than the operating segment. Geographic regions The Group’s sales are divided into four geographic regions: • Nordic region – Sweden, Denmark, Norway and Finland • Europe – Europe excluding the Nordic region • Americas – North America and South America • Asia-Oceania – Japan, South Korea, Australia, New Zealand and Rest of the world Internal sales are conducted between the production companies and the local sales companies, as well as between the local sales companies. Sales and installations are mainly conducted through dealers and our own local sales companies. Net sales by geographic region Of total net sales for the period, Sweden, where the company is domiciled, accounted for SEK 320 million (209) in the Nordic region and the US accounted for SEK 100 million (125) in the Americas. The net sales above are based on where the customer is domiciled. Jan-Dec SEK million 2026 2025 Δ 2026 2025 Δ 2025 Nordic region 203 173 30 750 599 151 774 Europe 168 163 5 599 542 57 771 Americas 34 56 -22 127 152 -26 202 Asia-Oceania 30 24 6 91 98 -8 140 Total 435 415 19 1,567 1,391 176 1,889 Q3 Jan-Sep
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Quarter report CEO’s comments Financial information Financial statements Notes to the accounts Quarterly overview Key performance indicators Interim Report January– September 2026 19 NOTE 5. INCENTIVE PROGRAMMES Warrant programme 2021-2026 In 2021, the Board resolved to introduce a long-term incentive programme in the form of a warrant programme for employees in the engcon Group. The purpose of the programme is to encourage broad-based share ownership amongst the company’s employees, facilitate recruitment, maintain competent employees, increase the alignment of interests between the employees and the company’s shareholders and increase motivation to reach or exceed the company’s financial targets. As of 30 September, 186 (190) engcon employees were participating in the warrant programme. A total of 1,517,880 warrants were issued, of which as of 30 September 2026 1,078,196 (1,082,196) were subscribed for. The change pertains to the return of warrants in conjunction with termination of employment. Each warrant entitles the holder to subscribe for one share in engcon at an agreed future price. Warrants are conditional on a vesting period of five years. To participate in this programme, employees encompassed by the programme pay a premium that is based on the fair value of allotted warrants that are measured in accordance with the Black & Scholes model. Therefore, for this programme, no cost is recognised during the vesting period since employees have paid the fair value. Incentive programmes 2025-2028 On 15 May 2025, the Annual General Meeting resolved in accordance with the Board of Director’s proposal to implement a new long-term incentive programme (LTIP 2025) in the form of a share-based programme for the CEO of the company, the other members of the Group management and certain other key persons in the engcon Group. The aim of the programme is to link the interest of participants with the interests of shareholders to promote long-term value creation. The programme is also expected to make it easier for the company to recruit and retain key personnel. The programme means that the participants, up to a maximum of 25, are granted a certain number of performance-based share rights free of charge, which, after three years, provided continued employment and that certain performance targets are met, may entitle the participants to receive a number of Class B shares in the company free of charge. To hedge the delivery of Class B shares under LTIP 2025, the Board of Directors resolved on 15 May on acquisition of own Class B shares and transfer of own shares with the support of the authorisation granted by the Annual General Meeting on 15 May to enable delivery of Class B shares to the participants of the programme, provided the outcome is positive. The maximum number of share rights that can be granted to participants within the framework of LTIP 2025 is 119,000, which were acquired on 10 June 2025 to secure the delivery of shares. As of 30 September 2026, 21 (22) engcon employees are participating in the programme. The company recognises the costs based on the fair value of the share rights at the time of allocation, in accordance with IFRS 2. Costs attributable to LTIP 2025 are accounted for as personnel costs in the income statement over the vesting period. In addition, any participants’ outcome will incur costs for social security contributions for engcon that are recognised in accordance with the statements from the Swedish Financial Reporting Board (UFR 7). The size of the social security contributions will be calculated based on the share price development for the Class B share, meaning the fair value on the balance sheet date. In accordance with IFRS 2, the cost for the incentive programme within the engcon Group for the third quarter was SEK 594 thousand (765) excluding social security contributions that are regulated with equity instruments and SEK 1,379 thousand (948) for the period excluding social security contributions that are regulated with equity instruments. The period includes a positive reversal of the former CEO’s allocation to the incentive programme amounting to SEK 550 thousand. Incentive programmes 2026-2029 On 5 May 2026, the Annual General Meeting resolved in accordance with the Board of Director’s proposal to implement a new long-term incentive programme (LTIP 2026) in the form of a share-based programme for the CEO of the company, the other members of the Group management and certain other key persons in the engcon Group. The aim of the programme is to link the interest of participants with the interests of shareholders to promote long-term value creation. The programme is also expected to make it easier for the company to recruit and retain key personnel. The CEO has, at his own request, chosen not to participate in the programme. The programme means that the participants, up to a maximum of 25, are granted a certain number of performance-based share rights free of charge, which, after three years, provided continued employment and that certain performance targets are met, may entitle the participants to receive a number of Class B shares in the company free of charge. To hedge the delivery of Class B shares under LTIP 2026, the Board of Directors resolved on 5 May on acquisition of own Class B shares and transfer of own shares with the support of the authorisation granted by the Annual General Meeting on 5 May to enable delivery of Class B shares to the participants of the programme, provided the outcome is positive. The maximum number of share rights that can be granted to participants within the framework of LTIP 2026 is 179,000, which were acquired in May 2026 to secure the delivery of shares. As of 30 September 2026, 20 (0) engcon employees are participating in the programme. The company recognises the costs based on the fair value of the share rights at the time of allocation, in accordance with IFRS 2. Costs attributable to LTIP 2026 are accounted for as personnel costs in the income statement over the vesting period. In addition, any participants’ outcome will incur costs for social security contributions for engcon that are recognised in accordance with the statements from the Swedish Financial Reporting Board (UFR 7). The size of the social security contributions will be calculated based on the share price development for the Class B share, meaning the fair value on the balance sheet date. In accordance with IFRS 2, the cost for the incentive programme within the engcon Group for the third quarter was SEK 429 thousand (0) excluding social security contributions that are regulated with equity instruments and SEK 583 thousand (0) for the period excluding social security contributions that are regulated with equity instruments.
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Quarter report CEO’s comments Financial information Financial statements Notes to the accounts Quarterly overview Key performance indicators Interim Report January– September 2026 20 NOTE 6. REPURCHASE AND DIVESTMENT OF SHARES engcon’s Board of Directors has been authorised to acquire engcon Class B shares in relation to engcon’s share-based long-term incentive programme 2025-2028 and 2026-2029, which took place on 10 June 2025 with 119,000 shares at a value of SEK 11,514,202 and in May 2026 with 179,000 shares at a value of SEK 12,492,708. NOTE 7. RELATED-PARTY TRANSACTIONS The private individual who is the owner of the company Ommapo förvaltning AB, which comprises the principal owner of engcon AB, is the Board member of AB Mähler & Söner and Mähler International AB. engcon has had transactions with these companies. The transactions comprised the purchases of products from engcon totalling SEK 2.4 million (6.4) and sales of products to engcon of SEK 3.3 million (3.3). Ommapo förvaltning AB and Monen Group AB also have an indirect influence in Drivex AB, which has conducted transactions, mainly comprising purchases of products, with engcon amounting to SEK 1.4 million (5.6). In addition to these transactions, Ommapo förvaltning AB delivered services to engcon AB for SEK 0.6 million (0.6). Other related party transactions also took place involving lesser amounts. All transactions were conducted at market value and pertain to the period. NOTE 8. EVENTS AFTER THE BALANCE SHEET DATE • On 22 October, an agreement was signed for a mortgage loan of SEK 27 million and an asset-specific loan of SEK 10 million. • No other material events have taken place after the end of the quarter. A-aktien B-aktien Totalt Number of outstanding shares 35,344,778 117,138,049 152,482,827 of which shares owned by engcon AB 298,000 Change in the quarter Number of own shares 31 December 2025 119,000 Acquistion (+) / disposal (-) of shares 179,000 Number of own shares 30 September 2026 298,000 Value of acquired (+) / divested (-) shares 24,006,910
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Quarter report CEO’s comments Financial information Financial statements Notes to the accounts Quarterly overview Key performance indicators Interim Report January– September 2026 21 Quarterly overview Rounding may entail that columns/rows do not tally. 2026 2025 2024 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Income statement Net sales, SEK million 435 594 539 498 415 530 446 393 Gross profit, SEK million 174 228 206 200 177 216 206 168 Gross margin, % 40.0 38.4 38.2 40.2 42.6 40.7 46.1 42.7 Operating profit, SEK million 86 101 84 72 70 94 84 63 Adjusted Operating profit, SEK million 86 115 84 72 70 94 84 63 Operating margin, % 19.9 17.2 15.7 14.5 16.9 17.8 18.8 16.0 Adjusted Operating margin, % 19.9 19.4 15.7 14.5 16.9 17.8 18.8 16.0 Profit/loss for the period, SEK million 69 82 68 48 52 70 54 54 Balance sheet Non-current assets, SEK million 410 365 359 363 362 367 370 348 Other current assets, SEK million 880 936 1,002 805 876 838 762 633 Cash and cash equivalents, SEK million 78 70 73 42 42 52 105 132 Total assets, SEK million 1,368 1,371 1,433 1,210 1,280 1,257 1,236 1,112 Equity, SEK million 752 677 781 708 664 616 767 732 Interest-bearing liabilities, SEK million 166 202 234 260 185 220 130 122 Non-interest-bearing liabilities, SEK million 450 492 418 242 431 421 339 258 Total equity and liabilities, SEK million 1,368 1,371 1,433 1,210 1,280 1,257 1,236 1,112 Cash flow Cash flow from operating activities, SEK million 96 163 62 20 42 20 13 108 Cash flow from investing activities, SEK million -59 -21 -7 -9 -10 -11 -7 -14 Cash flow from financing activities, SEK million -38 -148 -30 -4 -38 -64 -14 -73 Cash flow for the period, SEK million -1 -6 25 7 -6 -55 -8 21 Key performance indicators Order intake, SEK million 424 487 557 539 467 451 524 506 Net sales growth, % 3.9 12.6 26.7 33.5 4.4 23.3 13.7 26.6 Net debt (+) / Net cash (-), SEK million 88 133 161 219 144 168 24 -10 Net debt/Net cash through EBITDA 0.2 0.3 0.4 0.6 0.4 0.4 0.1 0.0 Net debt/Net cash through EBITDA 0.2 0.3 0.4 0.6 0.4 0.4 0.1 0.0 Equity/assets ratio, % 55.0 49.4 54.5 58.5 51.9 49.0 62.1 65.8 Return on capital employed, % 41.2 40.1 35.1 35.9 40.0 41.7 38.8 38.3 Adjusted Return on capital employed, % 42.7 41.6 35.1 35.9 40.0 41.7 38.8 38.3 Interest coverage ratio, multiple 21 17 15 9 10 11 9 18 Interest coverage ratio, multiple 22 17 15 9 10 11 9 18 Average number of full-time employees 455 455 447 442 436 427 409 379 Share data Basic earnings per share, SEK 0.45 0.55 0.45 0.32 0.33 0.46 0.34 0.35 Diluted earnings per share, SEK 0.45 0.55 0.44 0.32 0.33 0.45 0.34 0.35 Adjusted basic earnings per share, SEK 0.45 0.64 0.45 0.32 0.33 0.46 0.34 0.35 Adjusted diluted earnings per share, SEK 0.45 0.64 0.44 0.32 0.33 0.45 0.34 0.35 Average number of outstanding shares (thousands) 152,739 152,592 152,483 152,483 152,483 152,093 151,788 151,788 Average number of outstanding shares (thousands) 152,947 152,728 152,958 153,147 153,170 152,693 151,788 151,788 Average number of own shares 298,000 298,000 119,000 119,000 119,000 119,000 - -
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Quarter report CEO’s comments Financial information Financial statements Notes to the accounts Quarterly overview Key performance indicators Interim Report January– September 2026 22 Alternative performance measures and Financial definitions This interim report contains references to a number of earnings measures (performance measures). Some of these performance measures are defined in IFRS, while others are alternative performance measures that are not recognised in accordance with applicable frameworks for financial reporting or other legislation. These alternative performance measures comprise a complement to assist investors and company management in analysing the operations. Below is a report on the reconciliation of alternative performance measures and definitions of performance measures with a motivation for their use. Estimates Rounding may entail that columns/rows do not tally. Jan-Dec 2026 2025 2026 2025 2025 Items affecting comparability, SEK million* Restructuring costs (mainly personnel costs) 0 0 13 0 0 Total items affecting comparability 0 0 13 0 0 Equity/asset ratio Equity, SEK million 752 664 752 664 708 Total assets, SEK million 1,368 1,280 1,368 1,280 1,210 Equity/assets ratio, % 55.0% 51.9% 55.0% 51.9% 58.5% Gross margin Gross profit, SEK million 174 177 607 598 798 Net sales, SEK million 435 415 1,567 1,391 1,889 Gross margin, % 40.0% 42.6% 38.8% 43.0% 42.3% Operating margin Operating profit, SEK million 86 70 272 248 321 Net sales, SEK million 435 415 1,567 1,391 1,889 Operating margin, % 19.9% 16.9% 17.4% 17.8% 17.0% Adjusted operating profit and adjusted operating margin Operating profit, SEK million 86 70 272 248 321 Items affecting comparability* - 0 13 0 0 Adjusted operating profit, SEK million 86 70 285 248 321 Net sales, SEK million 435 415 1,567 1,391 1,889 Adjusted operating margin, % 19.9% 16.9% 18.2% 17.8% 17.0% Net debt (-) / Net cash (+) Non-current borrowing (+), SEK million - - - - - Current borrowing (+), SEK million 21 26 21 26 25 Non-current lease liabilities (+), SEK million 48 64 48 64 61 Current lease liabilities (+), SEK million 27 24 27 24 24 Bank overdraft facilities (+), SEK million 70 71 70 71 151 Cash and cash equivalents (-), SEK million -78 -42 -78 -42 -42 Net debt (+) / Net cash (-), SEK million 88 144 88 144 219 EBITDA Operating profit, RTM, SEK million 347 296 347 296 290 Financial income, RTM, SEK million -20 -18 -20 -18 -7 Interest expenses, RTM, SEK million 17 32 17 32 38 Depreciations, RTM, SEK million 61 51 61 51 55 EBITDA 406 361 406 361 375 Q3 Jan-Sep
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Quarter report CEO’s comments Financial information Financial statements Notes to the accounts Quarterly overview Key performance indicators Interim Report January– September 2026 23 Estimates (continued) Rounding may entail that columns/rows do not tally. Jan-Dec 2026 2025 2026 2025 2025 Net debt (+) / Net cash (-) /EBITDA Net debt (+) / Net cash (-), SEK million 88 144 88 144 219 EBITDA, SEK million 406 361 406 361 375 Net debt (+) / Net cash (-), SEK million/EBITDA 0.2 0.4 0.2 0.4 0.6 Adjusted EBITDA EBITDA 406 361 406 361 375 Items affecting comparability* - 0 13 0 0 Adjusted EBITDA, SEK million 406 361 419 361 375 Net debt (+) / Net cash (-) /Adjusted EBITDA Net debt (+) / Net cash (-), SEK million 88 144 88 144 219 Adjusted EBITDA, SEK million 406 361 419 361 375 Net debt (+) / Net cash (-), SEK million/Adjusted EBITDA 0.2 0.4 0.2 0.4 0.6 Interest coverage ratio, multiple Operating profit, RTM, SEK million 345 310 345 310 321 Financial income, RTM, SEK million 20 18 20 18 7 Sum 365 329 365 329 328 Interest expenses, RTM, SEK million 17 32 17 32 38 Interest coverage ratio, multiple 21 10 21 10 9 Adjusted interest coverage ratio, multiple Operating profit, RTM, SEK million 345 310 345 310 321 Items affecting comparability* - 0 13 0 0 Adjusted operating profit, RTM, SEK million 345 310 358 310 321 Financial income, RTM, SEK million 20 18 20 18 7 Sum 365 329 378 329 328 Interest expenses, RTM, SEK million 17 32 17 32 38 Adjusted interest coverage ratio, multiple 21 10 22 10 9 Organic growth in order intake Order intake for the current period, SEK million 424 467 1,468 1,441 1,981 Foreign exchange, SEK million -5 16 23 41 71 Order intake, excl foreign exchange, SEK million 418 483 1,491 1,483 2,052 Order intake for the preceding period, SEK million 467 367 1,441 1,211 1,716 Change in order intake, SEK million -48 116 50 272 336 Change in order intake, % -10.3% 31.5% 3.5% 22.5% 19.6% Net sales and organic net sales growth Net sales for the current period, SEK million 435 415 1,567 1,391 1,889 Foreign exchange, SEK million -4 15 16 39 65 Net sales, excl foreign exchange, SEK million 431 430 1,583 1,430 1,953 Net sales for the preceding period, SEK million 415 412 1,391 1,256 1,649 Change in organic net sales, SEK million 16 18 192 174 304 Change in organic net sales, % 3.9% 4.4% 13.8% 13.8% 18.5% Q3 Jan-Sep
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Quarter report CEO’s comments Financial information Financial statements Notes to the accounts Quarterly overview Key performance indicators Interim Report January– September 2026 24 Estimates (continued) Rounding may entail that columns/rows do not tally. Jan-Dec 2026 2025 2026 2025 2025 Return on capital employed Profit/loss before tax, RTM, SEK million 347 296 347 296 290 Interest expenses, RTM, SEK million 17 32 17 32 38 Profit/loss before tax plus interest expenses, RTM, SEK million 365 329 365 329 328 Capital employed at the beginning of the period, SEK million 850 795 850 795 853 Capital employed at the end of the period, SEK million 918 850 918 850 969 Capital employed, average, SEK million 884 822 884 822 911 Return on capital employed, % 41.2 40.0 41.2 40.0 35.9 Adjusted return on capital employed Profit/loss before tax, RTM, SEK million 347 296 347 296 290 Items affecting comparability* - 0 13 0 0 Adjusted profit/loss before tax, RTM, SEK million 347 296 360 296 290 Interest expenses, RTM, SEK million 17 32 17 32 38 Adjusted profit/loss before tax plus interest expenses, RTM, SEK million 364 329 378 329 328 Capital employed, average, SEK million 884 822 884 822 911 Adjusted return on capital employed, % 41.2 40.0 42.7 40.0 35.9 Capital employed Balance sheet total, SEK million 1,368 1,280 1,368 1,280 1,210 Less non-interest-bearing liabilities Deferred tax liabilities, SEK million -29 -24 -29 -24 -35 Provisions product warranty and others, SEK million -47 -32 -46 -32 -36 Accounts payable, SEK million -118 -150 -118 -150 -58 Current tax liabilities, SEK million -35 -9 -35 -9 -8 Other liabilities, SEK million -125 -120 -125 -120 -43 Accrued expenses and deferred income, SEK million -97 -95 -97 -95 -62 Capital employed, SEK million 918 850 918 850 969 Adjusted basic earnings per share, SEK Total profit/loss for the period attributable to shareholders, SEK million 69 50 219 170 219 Items affecting comparability attributable to the shareholders, SEK million* - 0 13 0 0 Adjusted total profit/loss for the period attributable to shareholders, SEK million 69 50 232 170 219 Average number of shares outstanding 152,739 152,483 152,606 152,181 152,287 Adjusted basic earnings per share, SEK 0.45 0.33 1.52 1.12 1.44 Adjusted diluted earnings per share, SEK Total profit/loss for the period attributable to shareholders, SEK million 69 50 219 170 219 Items affecting comparability attributable to the shareholders, SEK million* - - 13 - - Adjusted total profit/loss for the period attributable to shareholders, SEK million 69 50 232 170 219 Average number of shares outstanding 152,947 153,170 152,848 152,940 153,083 Adjusted diluted earnings per share, SEK 0.45 0.33 1.52 1.11 1.43 Q3 Jan-Sep
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Quarter report CEO’s comments Financial information Financial statements Notes to the accounts Quarterly overview Key performance indicators Interim Report January– September 2026 25 Definitions Key performance indicators Definitions Explanation Adjusted key performance indicators EBITDA, operating profit (EBIT), operating margin (EBIT margin), net debt/net cash/EBITDA, interest coverage ratio, return on capital employed (ROCE), earnings per share. Adjusted key performance indicators provide a better understanding of the underlying business and increase comparability between different periods, when figures are adjusted for items affecting comparability. Items affecting comparability may include major restructuring, specific impacts due to strategic decisions, etc. Return on capital employed Pre-tax profit plus interest expenses as a percentage of average capital employed, rolling 12 months. Return on capital employed is a profitability measure used to put earnings in relation to the capital required to conduct operations. Adjusted return on capital employed Pre-tax profit, adjusted for items affecting comparability, plus interest expenses as a percentage of average capital employed, rolling 12 months. Return on capital employed is a profitability measure used to put earnings in relation to the capital required to conduct operations. EBITDA Operating profit (EBIT) before interest and taxes and amortisation of intangible assets and depreciation of non-current assets. EBITDA is used to facilitate comparisons and assessments of the company’s cash flow. Adjusted EBITDA Operating profit (EBIT) before interest and taxes and amortisation of intangible assets and depreciation of non-current assets, adjusted for items affecting comparability. EBITDA is used to facilitate comparisons and assessments of the company’s cash flow. Gross margin Gross profit divided by net sales. Gross margin is used to measure product profitability. Average number of employees Average number of full-time employees during the reporting period. Non-financial performance measure. Net debt (+) / Net cash (-) Defined as interest-bearing debt minus cash and cash equivalents and certain other financial assets. Interest-bearing debt includes liabilities to credit institutions and lease liabilities. To ensure that engcon has a stable financing structure and can meet its financial commitments in accordance with its loan agreements. Net debt (+) / Net cash (-) through EBITDA Defined as interest-bearing debt minus cash and cash equivalents and certain other financial assets through EBITDA. Interest-bearing debt includes liabilities to credit institutions and lease liabilities. To ensure that engcon has a stable financing structure and can meet its financial commitments in accordance with its loan agreements. Net debt (+) / Net cash (-) through adjusted EBITDA Defined as interest-bearing debt minus cash and cash equivalents and certain other financial assets through adjusted EBITDA. Interest- bearing debt includes liabilities to credit institutions and lease liabilities. To ensure that engcon has a stable financing structure and can meet its financial commitments in accordance with its loan agreements. Order intake Total order intake during the period calculated in the same way as net sales. Order intake provides an indication of the current demand for the Group’s products and services, which becomes apparent in net sales with varying delays. Organic net sales growth Change in net sales as a percentage of net sales during the comparative period in the preceding year for the companies that were part of the Group for the entire comparative period and the current period, excluding exchange-rate effects. Relevant measure for the assessment of the company’s capacity to create growth through volume, price and product/service offering in operating activities. Organic growth in order intake Organic growth in order intake is growth in order intake excluding translation effects from It provides an understanding for the Group’s order intake, which is driven by changes in volume, price and product/service offering.
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Quarter report CEO’s comments Financial information Financial statements Notes to the accounts Quarterly overview Key performance indicators Interim Report January– September 2026 26 Key performance indicators Definitions Explanation exchange rate differences, as well as acquisitions and divestments. Earnings per share Earnings per share for the period, in SEK, attributable to the Parent Company shareholders, in relation to the weighted average number of shares before and after dilution. Performance measures in accordance with IFRS. Adjusted earnings per share Earnings adjusted for items affecting comparability per share for the period, in SEK, attributable to the Parent Company shareholders, in relation to the weighted average number of shares before and after dilution. This key performance indicator is used to assess earnings per share excluding items affecting comparability. Interest coverage ratio EBIT plus financial income through interest expenses. To ensure that engcon has a stable financing structure and can meet its financial commitments in accordance with its loan agreements. Adjusted interest coverage ratio EBIT, adjusted for items affecting comparability, plus financial income through interest expenses. To ensure that engcon has a stable financing structure and can meet its financial commitments in accordance with its loan agreements. Operating profit (EBIT) Earnings before interest and taxes. Enables comparisons of profitability regardless of capital structure or tax situation. Adjusted operating profit (adjusted EBIT) Earnings before interest and taxes adjusted for items affecting comparability. Enables comparisons of profitability regardless of capital structure or tax situation excluding items affecting comparability. Operating margin (EBIT margin) Operating profit (EBIT) divided by net sales. The EBIT margin is used to measure operational profitability. Adjusted operating margin (adjusted EBIT margin) Operating profit (EBIT), adjusted for items affecting comparability, divided by net sales. The adjusted EBIT margin is used to measure operational profitability excluding items affecting comparability. Equity/assets ratio Equity including non-controlling interests divided by total assets. A key measurement for the assessment of the company’s financial stability. Capital employed Total assets less non-interest-bearing liabilities. Capital employed shows the proportion of the company’s assets that are financed by capital requiring returns. Exchange rates Closing rate Average rate Closing rate Average rate 30 Sep 2026 Jan-Sep 2026 30 Sep 2025 Jan-Sep 2025 1 EUR is equivalent to SEK 11.33 10.90 11.06 11.10 1 DKK is equivalent to SEK 1.52 1.46 1.48 1.49 1 NOK is equivalent to SEK 1.04 0.98 0.94 0.95 1 USD is equivalent to SEK 9.98 9.39 9.42 9.95 1 AUD is equivalent to SEK 6.95 6.61 6.23 6.37 1 PLN is equivalent to SEK 2.59 2.55 2.59 2.62 1 GBP is equivalent to SEK 13.26 12.62 12.66 13.06 1 KRW is equivalent to SEK 0.01 0.01 0.01 0.01 1 CAD is equivalent to SEK 7.04 6.78 6.76 7.11 1 JPY is equivalent to SEK 0.06 0.06 0.06 0.07
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engcon AB | Corp. Reg. No. 556647-1727 | Registered office: Strömsund Municipality, Jämtland County Head office: Godsgatan 6, SE-833 36 Strömsund, Sweden | Tel: +46 670 178 00 | www.engcongroup.com About engcon Business operations engcon AB is the leading global manufacturer of tiltrotators with associated attachments, which enhance excavators’ profitability, effectiveness, flexibility, safety and sustainability. Under our own brand, we offer a unique full-range product suite that transforms an excavator into a tool carrier that can replace several other machines. engcon focuses on an attractive market niche, where our products contribute to changing the conditions for digging by ensuring the sustainable and responsible use of resources. From the beginning, we have formed close relationships with end users of our products, with the aim of optimising their everyday work. We address the market through our 15 local sales companies and through an established network of dealers. With about 450 employees, engcon is currently active in 17 markets. The head office is located in Strömsund, in northern Sweden, and this is also the location of our largest production facility. We also have a production plant in Niepruszewo, Poland. Our mission To become the leading, independent manufacturer of advanced attachments for excavators worldwide. Our vision Change the world of digging. 17 markets ~450 employees 15 local sales companies SEK 1.9 billion in net sales in 2025