Interim report
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HEDIN MOBILITY GROUP AB (PUBL) HALF-YEAR REPORT 1 JANUARY – 30 JUNE 2026
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Hedin Mobility Group in brief A leading European mobility provider The history of Hedin Mobility Group begins in 1985, when father and son Ingemar and Anders Hedin acquired Philips- ons Bil in Borås. I.A. Hedin Bil was founded and sold around 800 vehicles in its first year, with net sales of SEK 45 million. Forty years later, we are today one of Europe’s largest mobi- lity providers, with net sales of approximately SEK 90 billion and 260,000 vehicles sold during the past year. Our business areas Distribution We act as importer and/or distributor for 12 vehicle brands in markets across Europe, distributing vehicles to both our own and external retailers. Our distribution operations also comprise wholesale and distribution of spare parts, accessories, tyres and wheels, as well as logistics solutions. Retail With approximately 300 dealerships in 12 countries, offering customers complete solutions for new and used vehicles from more than 50 brands, we are one of Europe’s largest automotive retailers. Mobility Solutions Within Mobility Solutions we address new user needs and sales models in the automotive industry by providing and developing innovative services. Our operations also include Hedin IT, which provides the Group with advanced operation, support and digital development, as well as strategic investments in Lasingoo Sverige, Casi Group and Mercedes-Benz Financial Services Slovakia. 13 COUNTRIES WITH LOCAL PRESENCE ~300 DEALERSHIPS ~700 POINTS OF SALE 50+ VEHICLE BRANDS REPRESENTED ~11,000 EMPLOYEES HEDIN MOBILITY GROUP | HALF-YEAR REPORT 2026 2
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The Group in summary Q2 Q2 Jan-Jun Jan-Jun Full year MSEK 2026 2025 2026 2025 2025 Net sales 21,872 23,092 41,984 46,163 89,630 Operational earnings 176 170 2 273 132 Operational margin, % 0.8 0.7 0.0 0.6 0.1 Operating profit 87 118 -152 165 -135 Operating margin, % 0.4 0.5 -0.4 0.4 -0.2 Net profit/loss for the period -190 -140 -618 -363 -1,143 Equity ratio, % 13 13 13 Equity ratio excluding IFRS 16, % 17 17 17 Average number of employees 10,557 11,252 11,158 Second quarter 2026 • Net sales decreased by 5% to MSEK 21,872 (23,092). • Operational earnings increased to MSEK 176 (170). • Operating profit amounted to MSEK 87 (118). • Net profit/loss for the period amounted to MSEK -190 (-140). • Order intake for new vehicles continued to increase during the quarter. At the end of the period, the order backlog was approximately 20% higher year-on-year. • Hedin Mobility Group AB divested its ownership in Hedin Caetano AB to Salvador Caetano Group, with completion on 30 June 2026. In accordance with the terms of the Company’s bond loan, a partial redemption of outstanding bonds was subsequently carried out on 24 July 2026. 1 January – 30 June 2026 • Net sales decreased by 9% to MSEK 41,984 (46,163). • Operational earnings amounted to MSEK 2 (273). • Operating profit amounted to MSEK -152 (165). • Net profit/loss for the period amounted to MSEK -618 (-363). HEDIN MOBILITY GROUP | HALF-YEAR REPORT 2026 3
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Steps in the right direction We close a first half-year with a weak result, largely shaped by the first two months of the year. Looking at the develop- ment since then, the business has gradually improved. In the second quarter we report operational earnings of MSEK 176, against MSEK -174 in the first quarter, as well as a positive op- erating profit. Excluding one-off items, operating profit for the quarter is higher year-on-year, despite 5% lower sales. The work to consolidate and streamline the Group, which we have pursued since 2024, is having the intended effect, and operating costs decreased by approximately 5% in the quarter. Profitability strengthened clearly within the distribution opera- tions, with operational earnings of MSEK 133 against MSEK 86 in the previous year on largely unchanged sales. For compara- ble units, earnings have more than doubled. Operations that previously weighed on earnings are now contributing positive- ly, the spare parts business is developing strongly, and new partnerships are delivering results from the outset. Solid momentum in order intake It was also positive that margins on used vehicles turned upwards after two lacklustre quarters. At the same time, we continue to see encouraging signs of stronger demand in the market. Order intake for new vehicles has kept up a good pace throughout the half-year, and at the end of June the order backlog was 20% higher year-on-year and 34% higher than at the start of the year. In commercial vehicles we see a recovery, supported by continued strong fleet business within Hedin Automotive. Going forward, however, we need to increase the pace of deliveries and raise volumes. This applies to both passenger cars and commercial vehicles, and to new as well as used. A stronger retail offering In parallel, we continue to sharpen the Group’s focus and concentrate on the brands and partners where we see the best conditions for a long-term profitable business. During the year, Hedin Automotive has strengthened its presence in Stockholm and Gothenburg with two new brands. The partnership with Hyundai, which began in April, has start- ed very well and is now being expanded with a further point of sale in the Stockholm area. In June, Hedin Automotive was appointed as a retailer for Zeekr, with operations starting in August. Zeekr has quickly established itself as one of the strongest performing new electric car brands in the Swedish market and strengthens our offering in a growing segment. Our efforts are having an effect During the quarter, we divested our ownership in Hedin Caetano to Salvador Caetano Group, a transaction that has generated a return of approximately MSEK 200 over the four years we have run the business together. Together with the shareholders’ contribution in the first quarter, the Group has been provided with a total of just over MSEK 800 during the half-year. As a step in the Group’s development, we have also strength- ened the finance function. In mid-August, Ola Sjölander took up the position of Group CFO of Hedin Mobility Group. He succeeds Per Mårtensson, who moves into an advisory role as Senior VP Finance. Our focus remains on what we can control and on improv- ing earnings step by step. Although we are not there yet, the second quarter shows that our efforts are having an effect. I would like to thank all our employees for this, and for your persistent work. Mölndal, August 2026 Anders Hedin President and CEO HEDIN MOBILITY GROUP | HALF-YEAR REPORT 2026 4
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”We continue to see encouraging signs of stronger demand in the market.” HEDIN MOBILITY GROUP | HALF-YEAR REPORT 2026 5
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Financial summary Net sales Net sales for the quarter decreased by 5% to MSEK 21,872 (23,092), with exchange rate changes having only a marginal impact. Vehicle sales remained weak in all of our markets. Sa- les also declined as a result of the action programmes carried out, through the discontinuation of certain vehicle brands or of operations in certain geographical locations. Sales decreased for both new and used vehicles. Order intake for new vehicles is nevertheless continuing to increase, and the order backlog is 20% higher year-on-year and 34% higher than at the turn of the year. Year to date, sales decreased by 9% to MSEK 41,984 (46,163). The decrease was 8% excluding exchange rate changes. Operational earnings Operational earnings for the quarter amounted to MSEK 176 (170). The margin increased to 0.8% (0.7%) despite lower sales. The action programmes carried out to consolidate and streamline operations are having the intended effect and operating costs are decreasing significantly. Lower sales and continued low margins on used vehicles are nevertheless holding back earnings. Year to date, operational earnings amounted to MSEK 2 (273) and the margin amounted to 0.0% (0.6%). The year started cautiously, with low sales in the first two months. This has gradually improved during the spring, while the measures taken are having an increasing effect. Operating profit Operating profit for the quarter decreased to MSEK 87 (118). The difference compared with operational earnings consists of depreciation/amortisation of surplus values and one-off items; see also Note 3. These consist mainly of one-off costs in connection with the action programmes carried out, such as costs relating to the reduction in the number of dea- lerships. Our holding in Hedin Caetano AB was also divested, resulting in an accounting loss of MSEK 23. Year to date, operating profit amounted to MSEK -152 (165). Net financial items Net financial items for the quarter amounted to MSEK -314 (-297). The increase is mainly attributable to costs in connection with the extension of financing and to exchange rate changes. Year to date, net financial items amounted to MSEK -572 (-602). Q2 Q2 Jan-Jun Jan-Jun Full year Net sales, MSEK 2026 2025 2026 2025 2025 Retail 19,803 20,965 37,868 41,560 81,067 Distribution 2,544 2,530 5,068 5,578 10,776 Segment reconciliation -475 -403 -951 -975 -2,214 Total 21,872 23,092 41,984 46,163 89,630 Q2 Q2 Jan-Jun Jan-Jun Full year Operational earnings, MSEK 2026 2025 2026 2025 2025 Retail 42 49 -202 66 -268 Distribution 133 86 185 156 292 Segment reconciliation 1 35 19 50 108 Total 176 170 2 273 132 Q2 Q2 Jan-Jun Jan-Jun Full year Operational margin, % 2026 2025 2026 2025 2025 Retail 0.2 0.2 -0.5 0.2 -0.3 Distribution 5.2 3.4 3.6 2.8 2.7 Total 0.8 0.7 0.0 0.6 0.1 HEDIN MOBILITY GROUP | HALF-YEAR REPORT 2026 6
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Cash flow Cash flow from operating activities amounted to MSEK 131 (556) in the quarter. Investments in fixed assets excluding leasing vehicles and right-of-use assets amounted to MSEK 208 (298). Financial position Total assets amounted to MSEK 48,083. Net debt increased by MSEK 181 excluding exchange rate changes, through increa- sed utilisation of overdraft facilities. Year to date, net debt has decreased by MSEK 350. In March 2026, a shareholders’ contribution was made, incre- asing equity by MSEK 500, of which MSEK 100 was transferred from liabilities to the Parent Company and MSEK 400 was made through a liquidity contribution. Available liquidity including unutilised overdraft facilities and revolving credit facilities amounted to MSEK 1,546. Q2 Q2 Jan-Jun Jan-Jun Full year Registered vehicles – Distribution 2026 2025 2026 2025 2025 Ford 2,378 2,725 4,535 5,191 9,074 MG 588 1,074 905 1,331 2,164 Iveco 337 377 655 741 1,496 American vehicles * 589 854 1,470 2,022 3,187 Other ** 258 373 450 745 1,488 Renault, Dacia, Alpine *** 8,032 7,080 14,258 12,137 25,694 Total 12,182 12,483 22,273 22,167 43,103 * Corvette, Dodge, RAM and Ford F-150. ** BYD, Hongqi, INEOS Grenadier, NIO, firefly and XPENG. *** Renault, Dacia, Alpine are distributed by RN Nordic AB, in which Hedin Mobility Group held a 50% interest up to and including 30 June 2026. The holding is reported as an associated company according to the equity method. Distribution Sales for the quarter increased by 1% to MSEK 2,544 (2,530). Volumes increased both through new distribution brands, such as Corvette and XPENG, and within the Swedish Ford distribution. Demand for American vehicles such as the RAM and F-150 remained low. Last year, we ended the distribution of BYD in Sweden, which has reduced sales of both vehicles and spare parts. The increase in sales, together with lower costs resulting from the cost-saving programmes carried out, contributed to operational earnings increasing to MSEK 133 (86) and to an improved margin of 5.2% (3.4%). Year to date, net sales decreased to MSEK 5,068 (5,578). Despite the lower sales, earnings are improving as a result of the measures taken, both in terms of cost structure and through the reduction and discontinuation of certain loss- making operations. Operational earnings amounted to MSEK 185 (156) and the margin increased to 3.6% (2.8%). HEDIN MOBILITY GROUP | HALF-YEAR REPORT 2026 7
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Q2 Q2 Jan-Jun Jan-Jun Full year Net sales – Retail, MSEK 2026 2025 2026 2025 2025 Sweden 6,161 6,316 11,552 12,164 23,407 Other Nordic countries 3,573 3,683 6,618 7,230 14,392 Western Europe 6,806 7,191 13,389 15,079 29,038 Central Europe 3,263 3,775 6,308 7,087 14,230 Total 19,803 20,965 37,868 41,560 81,067 Q2 Q2 Jan-Jun Jan-Jun Full year Operational earnings – Retail, MSEK 2026 2025 2026 2025 2025 Sweden -32 -57 -265 -150 -585 Other Nordic countries 4 -9 -54 -60 -90 Western Europe 76 78 174 250 379 Central Europe -6 37 -56 26 28 Total 42 49 -202 66 -268 Retail Net sales for the quarter decreased by 6% to MSEK 19,803 (20,965). Sales decreased in all markets except Norway, where sales increased. Sales of new vehicles recovered somewhat after the weak start to the year and increased by 2% in the quarter, with the increase occurring in Sweden and Norway. In other markets, sales decreased. Gross profit margins remained at a stable level, as did the operational margin. Sales of used vehicles decreased by 11% in the quarter, with declines in all markets. Gross profit margins turned upwards in the quarter after two very weak quarters. The same applies to the operational margin, even though the rolling 12-month curve is still pointing downwards. Aftermarket sales decreased by 4%. The majority of the change consists of lower sales of spare parts. Margins were stable and earnings at the same level year-on-year. Year to date, sales decreased by 9% to MSEK 37,868 (41,560). Operational earnings amounted to MSEK -202 (66). The year began very weakly, with low sales in the first two months, and then gradually improved. The low result is largely attributable to lower sales across all areas and to low margins on used vehicles, particularly in Sweden for used electric vehicles with repurchase commitments. Sales of new vehicles decreased by 7%, while sales of used vehicles decreased by 10% year-on- year. The aftermarket has decreased by 4%. Order intake has increased after the weak start to the year, and the order back- log has increased by 34% compared with the turn of the year. For definition of geographical markets, see page 22. NEW VEHICLES USED VEHICLES AFTERMARKET Net sales, MSEK Operational margin, 12 months, % 4.0% 3.0% 2.0% 1.0% 0.0% -1.0% -2.0% -3.0% 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 9,000 8,000 7,000 6,000 5,000 3,000 2,000 1,000 0 5,000 4,000 3,000 2,000 1,000 0 0.0% -1.0% -2.0% -3.0% -4.0% -5.0% -6.0% -7.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 -3,0% -2,0% -1,0% 0,0% 1,0% 2,0% 3,0% 4,0% 0 2 0 00 4 0 00 6 0 00 8 0 00 10 000 12 000 14 000 Q3 -2024Q4 -2024Q1 -2025Q2 -2025Q3 -2025Q4 -2025Q1 -2026Q2 -2026 New Vehicles Net Sales New vehicles Ma rgin% 12 m t h -7,0% -6,0% -5,0% -4,0% -3,0% -2,0% -1,0% 0,0% 0 1 0 00 2 0 00 3 0 00 4 0 00 5 0 00 6 0 00 7 0 00 8 0 00 9 0 00 Q3 -2024 Q4 -2024 Q1 -2025 Q2 -2025 Q3 -2025 Q4 -2025 Q1 -2026 Q2 -2026 Used Vehicles Net Sales Use d vehicles Ma rgin% 12 m t h 0,0% 1,0% 2,0% 3,0% 4,0% 5,0% 6,0% 7,0% 0 500 1 0 00 1 5 00 2 0 00 2 5 00 3 0 00 3 5 00 4 0 00 4 5 00 5 0 00 Q3 -2024Q4 -2024Q1 -2025Q2 -2025Q3 -2025Q4 -2025Q1 -2026Q2 -2026 After market Net Sales Ma rgin% 12 m t h HEDIN MOBILITY GROUP | HALF-YEAR REPORT 2026 8
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Q2 Q2 Jan-Jun Jan-Jun Full year Operational margin – Retail, % 2026 2025 2026 2025 2025 Sweden -0.5 -0.9 -2.3 -1.2 -2.5 Other Nordic countries 0.1 -0.3 -0.8 -0.8 -0.6 Western Europe 1.1 1.1 1.3 1.7 1.3 Central Europe -0.2 1.0 -0.9 0.4 0.2 Total 0.2 0.2 -0.5 0.2 -0.3 Q2 Q2 Jan-Jun Jan-Jun Full year Delivered vehicles by category – Retail 2026 2025 2026 2025 2025 New passenger cars 20,124 21,168 38,517 42,048 84,257 New commercial vehicles 5,503 4,943 9,347 9,251 17,139 Used passenger cars 23,525 27,251 49,185 55,262 106,853 Used commercial vehicles 1,330 1,515 2,679 3,141 6,010 Trucks, new and used 228 241 419 450 948 Motorcycles, new and used 265 298 381 454 744 Total 50,975 55,416 100,528 110,606 215,951 Q2 Q2 Jan-Jun Jan-Jun Full year Delivered vehicles by country – Retail 2026 2025 2026 2025 2025 Sweden 17,025 18,347 33,787 36,517 70,580 Other Nordic countries 8,894 10,371 17,379 20,008 39,285 Western Europe 18,592 18,960 36,845 39,843 77,516 Central Europe 6,464 7,738 12,517 14,238 28,570 Total 50,975 55,416 100,528 110,606 215,951 Q2 Q2 Jan-Jun Jan-Jun Full year Order intake – Retail 2026 2025 2026 2025 2025 Sweden 17,278 17,333 35,341 36,821 71,983 Other Nordic countries 9,044 9,823 18,245 20,018 39,913 Western Europe 19,353 18,597 40,525 40,182 76,498 Central Europe 6,773 6,971 14,011 14,198 28,228 Total 52,448 52,724 108,122 111,219 216,622 Q2 Q2 Jan-Jun Jan-Jun Full year Order intake – Retail 2026 2025 2026 2025 2025 New passenger cars 22,463 19,970 45,043 43,536 85,826 New commercial vehicles 4,764 3,767 10,152 8,649 16,421 Used passenger cars 23,406 27,028 49,336 55,034 106,694 Used commercial vehicles 1,317 1,514 2,639 3,141 6,057 Trucks, new and used 269 244 560 507 1,082 Motorcycles, new and used 229 201 392 352 542 Total 52,448 52,724 108,122 111,219 216,622 For definition of geographical markets, see page 22. HEDIN MOBILITY GROUP | HALF-YEAR REPORT 2026 9
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HEDIN MOBILITY GROUP | HALF-YEAR REPORT 2026 10
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We enable mobility HEDIN MOBILITY GROUP | HALF-YEAR REPORT 2026 11
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Consolidated income statement and total comprehensive income Q2 Q2 Jan-Jun Jan-Jun Full year MSEK 2026 2025 2026 2025 2025 Net sales 21,872 23,092 41,984 46,163 89,630 Other operating income 50 174 114 285 665 21,922 23,266 42,098 46,448 90,295 Finished products and goods for resale -17,751 -18,716 -34,069 -37,390 -72,888 Other external expenses -942 -1,046 -1,967 -2,149 -4,283 Employee benefit expenses -2,121 -2,202 -4,165 -4,407 -8,530 Profit from participations in operational associated companies -23 24 6 33 77 Depreciation and amortisation of tangible and intangible fixed assets -968 -1,068 -1,991 -2,156 -4,319 Other operating expenses -30 -140 -64 -214 -487 Operating profit 87 118 -152 165 -135 Profit from participations in associated companies 0 1 0 4 20 Financial income 3 3 14 26 35 Financial expenses -318 -301 -586 -632 -1,209 Profit/loss before tax -228 -179 -724 -437 -1,289 Taxes 38 39 106 74 146 Net profit/loss for the period -190 -140 -618 -363 -1,143 Net profit/loss for the period attributable to: Parent Company’s shareholders -191 -144 -620 -371 -1,159 Holdings with non-controlling interests 1 4 2 8 16 Net profit/loss for the period -190 -140 -618 -363 -1,143 Other comprehensive income Items that will not be reclassified to profit/loss Remeasurements of pension obligations, net after taxes 0 0 0 0 16 Items that may be reclassified to profit/loss Cash flow hedging -4 51 14 -83 -37 Translation differences and cash flow hedging reclassified to net profit/loss for the period 0 0 -2 0 5 Translation differences 22 28 111 -88 -130 Total comprehensive income for the period -172 -61 -495 -534 -1,289 Total comprehensive income for the period attributable to: Parent Company’s shareholders -179 -68 -504 -541 -1,302 Holdings with non-controlling interests 7 7 9 7 13 Total comprehensive income for the period -172 -61 -495 -534 -1,289 HEDIN MOBILITY GROUP | HALF-YEAR REPORT 2026 12
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Consolidated balance sheet MSEK 2026-06-30 2025-06-30 2025-12-31 ASSETS Fixed assets Intangible fixed assets Intangible rights 104 145 123 Customer relations 555 749 631 Goodwill 3,262 3,210 3,178 3,921 4,104 3,932 Tangible fixed assets Land and buildings 616 1,512 635 Costs incurred on others’ property 1,167 977 1,134 Equipment, tools and installations 1,177 1,280 1,219 Leasing vehicles 9,030 10,859 9,574 Right-of-use assets 11,951 11,522 11,937 Construction in progress 263 322 135 24,204 26,472 24,634 Shares in associated companies 117 377 425 Other long-term securities 5 8 3 Deferred tax assets 1,062 926 1,009 Other long-term receivables 362 73 354 Total fixed assets 29,671 31,960 30,357 Current assets Inventories Finished products and goods for resale 10,845 13,019 12,089 Goods in transit 1,563 1,592 1,529 12,408 14,611 13,618 Current receivables Accounts receivables 3,081 3,261 2,650 Receivables from Group companies 1 2 1 Receivables from associated companies 9 40 9 Tax assets 310 266 146 Other current receivables 1,186 836 1,019 Prepaid expenses and accrued income 842 1,144 722 5,429 5,549 4,547 Cash and cash equivalents 575 684 494 Total current assets 18,412 20,844 18,659 TOTAL ASSETS 48,083 52,804 49,016 HEDIN MOBILITY GROUP | HALF-YEAR REPORT 2026 13
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Consolidated balance sheet MSEK 2026-06-30 2025-06-30 2025-12-31 EQUITY AND LIABILITIES Equity Share capital and other contributed capital 4,103 4,103 4,103 Reserves 76 118 -40 Retained earnings, including profit/loss for the period 1,834 2,557 1,954 Equity attributable to the Parent Company’s owners 6,013 6,778 6,017 Holdings with non-controlling interests 117 109 113 Total equity 6,130 6,887 6,130 Non-current liabilities Provisions for pensions 164 189 160 Deferred tax liabilities 188 290 226 Bond loans 1,017 997 0 Other liabilities to credit institutions 739 902 490 Lease liabilities 10,577 9,745 10,497 Other non-current liabilities 4,321 5,133 4,568 Total non-current liabilities 17,006 17,256 15,941 Current liabilities Overdraft facilities 2,029 1,927 2,118 Liabilities to credit institutions 2,425 3,749 2,762 Bond loans 0 0 999 Lease liabilities 1,876 1,905 1,864 Accounts payable 3,475 5,957 4,545 Liabilities to Group companies 35 22 126 Liabilities to associated companies 0 0 3 Tax liabilities 36 38 24 Other current liabilities 12,299 12,224 12,023 Accrued expenses and deferred income 2,772 2,839 2,481 Total current liabilities 24,947 28,661 26,945 TOTAL EQUITY AND LIABILITIES 48,083 52,804 49,016 HEDIN MOBILITY GROUP | HALF-YEAR REPORT 2026 14
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Consolidated report of changes in equity MSEK Equity Holdings with non-control- ling interests Total equity Opening balance 2025-01-01 7,319 104 7,423 Net profit/loss for the period -371 8 -363 Other comprehensive income -170 -1 -171 Dividend to owners with non-controlling interests 0 -2 -2 Closing balance 2025-06-30 6,778 109 6,887 Opening balance 2026-01-01 6,017 113 6,130 Net profit/loss for the period -620 2 -618 Other comprehensive income 116 7 123 Shareholders’ contribution 500 0 500 Dividend to owners with non-controlling interests 0 -5 -5 Closing balance 2026-06-30 6,013 117 6,130 HEDIN MOBILITY GROUP | HALF-YEAR REPORT 2026 15
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Consolidated cash flow statement Q2 Q2 Jan-Jun Jan-Jun Full year MSEK 2026 2025 2026 2025 2025 Operating activities , Profit/loss after financial items -228 -179 -724 -437 -1,289 Adjustments for non-cash items 974 1,017 1,810 1,980 4,114 Income tax paid -39 -31 -109 -68 -68 Cash flow from operating activities before changes in working capital 707 807 977 1,475 2,757 Cash flow from changes in working capital Increase (-)/decrease (+) in inventories 301 1,074 1,653 2,246 2,867 Increase (-)/decrease (+) in operating receivables -482 -315 -602 262 1,004 Increase (+)/decrease (-) in operating liabilities -395 -1,010 -1,125 -2,696 -4,609 Cash flow from operating activities 131 556 903 1,287 2,019 Investing activities Divestment of subsidiaries 0 30 0 30 125 Divestment of associated companies 316 7 316 7 7 Purchase of intangible and tangible fixed assets -208 -298 -356 -479 -896 Sale of tangible assets 47 59 56 59 1,007 Purchase of leasing vehicles -976 -962 -1,941 -2,025 -4,542 Sale of leasing vehicles 865 852 1,841 1,806 4,605 Dividend to owners with non-controlling interests -3 0 -5 -2 -4 Financial fixed assets, net -5 15 -5 14 27 Cash flow from investing activities 36 -297 -94 -590 329 Financing activities Repayment of borrowings -108 -187 -224 -305 -1,488 Net change in overdraft facilities and similar credit facilities 289 263 -126 290 485 Repayment of lease liabilities -413 -430 -791 -838 -1,667 Shareholders’ contribution 0 0 400 0 0 Cash flow from financing activities -232 -354 -741 -853 -2,670 Cash flow for the period -65 -95 68 -156 -322 Cash and cash equivalents at the beginning of the period 634 759 494 865 865 Exchange rate differences in cash and cash equivalents 6 20 13 -25 -49 Cash and cash equivalents at the end of the period 575 684 575 684 494 HEDIN MOBILITY GROUP | HALF-YEAR REPORT 2026 16
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Note 1 – Accounting principles This Half-Year Report has been prepared in accordance with IAS 34 Interim Financial Reporting. The same accounting principles and methods of calculation have been applied as in the most recent Annual Report. Note 2 – Operating segments Retail comprises retail sales of new and used vehicles, inclu- ding sales of financing and insurance solutions, as well as the aftermarket, which includes service, workshop services and products, as well as spare parts. Jan-Jun Retail Distribution Segment reconciliation Group Operating segment, MSEK 2026 2025 2026 2025 2026 2025 2026 2025 Net sales 37,868 41,560 5,068 5,578 -951 -975 41,984 46,163 EBITDA 1,502 1,857 268 247 132 223 1,902 2,327 Depreciation -1,704 -1,791 -83 -90 -113 -173 -1,900 -2,054 Operational earnings -202 66 185 156 19 50 2 273 Operational margin, % -0.5% 0.2% 3.6% 2.8% - - 0.0% 0.6% Capital gains/losses 0 0 -23 0 0 0 -23 0 Structural costs -40 -6 0 0 0 0 -40 -6 Depreciation/amortisation of surplus values -91 -102 0 0 0 0 -91 -102 Operating profit -333 -42 162 157 19 50 -152 165 Operating margin, % -0.9% -0.1% 3.2% 2.8% - - -0.4% 0.4% Net financial items -572 -602 Profit/loss before tax -724 -437 Taxes 106 74 Net profit/loss for the period -618 -363 Investments in - fixed assets 254 440 27 21 74 18 356 479 - leasing vehicles 1,941 2,025 - - - - 1,941 2,025 Q2 Retail Distribution Segment reconciliation Group Operating segment, MSEK 2026 2025 2026 2025 2026 2025 2026 2025 Net sales 19,803 20,965 2,544 2,530 -475 -403 21,872 23,092 EBITDA 866 934 175 130 57 124 1,098 1,188 Depreciation -824 -885 -42 -44 -56 -89 -922 -1,018 Operational earnings 42 49 133 86 1 35 176 170 Operational margin, % 0.2% 0.2% 5.2% 3.4% - - 0.8% 0.7% Capital gains/losses 0 0 -23 0 0 0 -23 0 Structural costs -20 -2 0 0 0 0 -20 -2 Depreciation/amortisation of surplus values -46 -50 0 0 0 0 -46 -50 Operating profit -24 -3 111 86 1 35 87 118 Operating margin, % -0.1% 0.0% 4.3% 3.4% - - 0.4% 0.5% Net financial items -314 -297 Profit/loss before tax -228 -179 Taxes 38 39 Net profit/loss for the period -190 -140 Investments in - fixed assets 180 274 17 15 41 9 208 298 - leasing vehicles 977 962 - - - - 977 962 Distribution includes the import and distribution of vehicles, tyres, spare parts, and other car accessories. Segment reconciliation includes vehicle rental operations, leasing services and the IT operations. Group-wide functions in the Parent Company are also reported in segment reconcili- ation. From 2026, accounting effects of IFRS 16 are reported within each respective segment. Comparative figures have been adjusted accordingly. HEDIN MOBILITY GROUP | HALF-YEAR REPORT 2026 17
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Note 4 – Specification of financial covenants EBITDA*, MSEK July 2025-June 2026 Full year 2025 Operating profit -452 -135 Depreciation and amortisation of tangible and intangible fixed assets 4,154 4,319 – Less depreciation and interest expense on right-of-use assets -2,046 -2,036 – Less depreciation of leasing vehicles with repurchase agreements -1,698 -1,834 Profit/loss attributable to holdings with non-controlling interests -10 -16 Profit/loss from participations in operational associated companies -50 -77 Capital gain on sale of fixed assets -101 -101 Other items affecting comparability 205 171 Adjustment of items affecting comparability, max. 10% of EBITDA* -205 -159 EBITDA* -203 132 Net debt, MSEK 2026-06-30 2025-12-31 Non-current liabilities to credit institutions 739 490 Bond loans 1,017 999 Overdraft facilities 2,029 2,118 Current liabilities to credit institutions 2,425 2,762 Cash and cash equivalents -575 -494 Shares in associated companies -117 -425 Net debt* 5,518 5,450 Net financial items, MSEK July 2025-June 2026 Full year 2025 Interest income 22 35 Interest expenses -1,163 -1,209 – Less interest expense on right-of-use assets 342 335 Net financial items* -799 -839 Financial covenants 2026-06-30 2025-12-31 Net debt in relation to EBITDA* Neg 41.29 Interest coverage ratio* Neg 0.16 * Terms as defined in the Terms and conditions of Hedin Mobility Group AB (publ) Senior Unsecured Callable floating rate bonds 2023/2026 ISIN: SE0018742033. Q2 Q2 Jan-Jun Jan-Jun Full year Operating profit, MSEK 2026 2025 2026 2025 2025 Operational earnings 176 170 2 273 132 Depreciation/amortisation of surplus values -46 -50 -91 -102 -197 Capital gains/losses -23 0 -23 0 101 Structural costs -20 -2 -40 -6 -51 New distribution brands 0 0 0 0 -120 Operating profit 87 118 -152 165 -135 Note 3 – Operating profit HEDIN MOBILITY GROUP | HALF-YEAR REPORT 2026 18
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Income statement – Parent Company Q2 Q2 Jan-Jun Jan-Jun Full year MSEK 2026 2025 2026 2025 2025 Net sales 122 104 225 219 434 122 104 225 219 434 Other external expenses -71 -65 -135 -112 -239 Employee benefit expenses -51 -53 -95 -102 -195 Depreciation and amortisation of tangible and intangible fixed assets -4 -5 -11 -9 -18 Operating profit/loss -3 -19 -16 -4 -18 Dividend from subsidiaries 83 0 83 0 217 Profit/loss from participations in subsidiaries 0 0 0 0 -185 Profit/loss from participations in associated companies 192 0 192 0 12 Profit/loss from sale of securities 0 3 0 3 3 Interest income and similar profit/loss items 83 98 192 200 381 Interest expenses and similar profit/loss items -90 -72 -156 -144 -282 Profit/loss after financial items 265 10 295 55 128 Appropriations 0 0 0 0 -51 Profit/loss before tax 265 10 295 55 77 Taxes 2 -11 -4 -11 1 Net profit/loss for the year 267 -1 291 44 78 HEDIN MOBILITY GROUP | HALF-YEAR REPORT 2026 19
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Balance sheet – Parent Company MSEK 2026-06-30 2025-06-30 2025-12-31 ASSETS Fixed assets Intangible fixed assets Intangible rights 22 27 25 Construction in progress 5 4 3 27 31 28 Tangible fixed assets Costs incurred on others’ property 45 47 46 Equipment, tools and installations 64 70 67 Construction in progress 3 1 1 112 118 114 Shares in Group companies 8,280 7,279 8,040 Shares in associated companies 105 229 229 Deferred tax assets 1 0 1 8,386 7,508 8,270 Total fixed assets 8,525 7,657 8,412 Current assets Current receivables Accounts receivables 1 1 18 Receivables from Group companies 6,698 6,960 6,660 Tax assets 12 5 8 Other current receivables 12 33 31 Prepaid expenses and accrued income 46 16 26 6,769 7,015 6,743 Total current assets 6,769 7,015 6,743 TOTAL ASSETS 15,294 14,672 15,155 HEDIN MOBILITY GROUP | HALF-YEAR REPORT 2026 20
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Balance sheet – Parent Company MSEK 2026-06-30 2025-06-30 2025-12-31 EQUITY AND LIABILITIES Equity Restricted equity Share capital, 2,564 (1,000) shares 3 3 3 3 3 3 Non-restricted equity Share premium reserve 4,100 4,100 4,100 Profit/loss brought forward 3,184 2,605 2,605 Net profit/loss for the year 291 44 78 7,575 6,749 6,783 Total equity 7,578 6,752 6,786 Untaxed reserves Untaxed reserves 17 231 17 Total untaxed reserves 17 231 17 Non-current liabilities Bond loans 1,017 997 0 Total non-current liabilities 1,017 997 0 Current liabilities Overdraft facilities 1,598 1,398 1,677 Liabilities to credit institutions 1,276 1,514 1,374 Bond loans 0 0 999 Accounts payable 25 28 66 Liabilities to Group companies 3,662 3,640 4,151 Tax liabilities 4 11 0 Other current liabilities 23 38 22 Accrued expenses and deferred income 94 63 63 Total current liabilities 6,682 6,692 8,352 TOTAL EQUITY AND LIABILITIES 15,294 14,672 15,155 HEDIN MOBILITY GROUP | HALF-YEAR REPORT 2026 21
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Equity ratio Equity in relation to total assets. Return on equity Net profit/loss for the year after tax in relation to average equity. EBITDA Earnings before interest, tax, depreciation, amortisation and impairments as well as items affecting comparability. Operational earnings Operating profit excluding items affecting comparability and depreciation/amortisation of surplus values. Operational margin Operational earnings in relation to net sales. Structural costs Structural costs refer to costs arising from approved and announced restructuring measures, which are intended to bring about a lasting change to the Group’s organisational or operational structure. The costs primarily comprise staff- related remuneration, costs associated with the winding up or closure of operations and facilities, and other directly attribu- table and unavoidable costs that do not form part of ordinary business operations. Items affecting comparability Income and expenses that have arisen outside the course of normal business but which have a material impact on the financial results, and where it is unlikely that such items will recur in future years. Geographical markets • Other Nordic countries refers to Norway and Finland. • Western Europe refers to the United Kingdom, Belgium, the Netherlands and Luxembourg. • Central Europe refers to Germany, Switzerland, Slovakia, the Czech Republic and Hungary. Definitions and alternative performance measures Some of the performance measures presented in this report are alternative performance measures and are not defined in accor- dance with IFRS. These are used by Group Management alongside IFRS key performance indicators to monitor the business’s per- formance and support decision-making. The Group considers that these alternative performance meaures provide investors with relevant supplementary information regarding its performance and financial position. The Group applies the European Securities and Markets Authority’s (ESMA) Guidelines on Alternative Performance Measures. Reconciliation of alternative performance measures not already defined in the Half-Year Report, Group, MSEK Q2 Q2 Jan-Jun Jan-Jun Full year 2026 2025 2026 2025 2025 Operating profit 87 118 -152 165 -135 Items affecting comparability 43 2 63 6 70 Depreciation/amortisation of surplus values 46 50 91 102 197 Operational earnings 176 170 2 273 132 Depreciation/amortisation excluding depreciation/amortisation of surplus values 922 1,018 1,900 2,054 4,121 EBITDA 1,098 1,188 1,902 2,327 4,254 HEDIN MOBILITY GROUP | HALF-YEAR REPORT 2026 22
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Other information Jan Litborn Chairman of the Board Erik Selin Board member Klaus Kibsgaard Board member Björn Hauber Board member Anders Hedin CEO Board member Hampus Hedin Board member The Board of Directors and the CEO assure that the Half-Year Report provides a fair overview of the Company’s and the Group’s operations, position and results and describes material risks and uncertainties that the Company, and the companies that are part of the Group, are facing. Mölndal, 26 August 2026 Hedin Mobility Group AB (publ) Auditor review This Half-Year Report has not been subject to review by the Company’s auditors. Risks and uncertainties For a description of material risks and un- certainties, please see Hedin Mobility Group AB’s Annual Report for the financial year 2025, which is available on the Company’s website hedinmobilitygroup.com. Contact Magnus Matsson Global Communications Director +46 31-790 00 82 ir@hedinmobilitygroup.com Registered office Hedin Mobility Group AB (publ) Box 2114, 431 02 Mölndal Corp. ID no. 556065-4070 +46 31-790 00 00 HEDIN MOBILITY GROUP | HALF-YEAR REPORT 2026 23
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