Slides
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Hardware Meets Software HMS Networks Q3 2026 presentation Staffan Dahlström, CEO, Joakim Nideborn, CFO October 21, 2026
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Agenda 2 Financial summary Q3 2026 3 Q&A Business update from Q3 20261
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Financial summary of Q3 2026 and YTD Q3 summary YTD • Net sales 1,024 MSEK (894), +15%, organic +6% • Order intake 1,104 MSEK (855), +29%, organic +22% • EBITA 280 MSEK (242) • EBITA margin 27.4% (27.1) • Cash flow from ops. of 333 MSEK (258) • Adjusted EPS 3.82 SEK (3.83) • Net sales 2,987 MSEK (2,627), +14%, organic +11% • Order intake 3,191 MSEK (2,601), +23%, organic +15% • EBITA 810 MSEK (615) • EBITA margin 27.1% (23.4) • Cash flow from ops. of 916 MSEK (646) • Adjusted EPS 11.24 SEK (8.98)
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Business update – third quarter 2026 • New milestone achieved; above 1 BSEK in quarterly net sales for the first time • Data center automation and semiconductor demand remains strong • Gross Margin pressure from tariffs and increased cost in component market • Public tender offer of Spanish company Robot S.A. – a provider of sensors, room controllers, and building automation systems • Progress in Information Security • Achieved global ISO/IEC 27001 certification during the quarter
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Overview Robot S.A. (BME:rbt) 1983 Founded Palma de Mallorca International Customer base Meliá, Iberostar, Hyatt, Hilton, Hard Rock Hotels Environmental focus Save up to 20-30% on hotel energy costs People 65 people in Spain and the Caribbean Financials 9M EUR Revenue, 27% EBITDA (2025) Robot provides Guest Room Management and Building Management solutions to hotels and commercial buildings to allow a 20-30% reduction in energy costs by efficient management of resources
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Agenda 2 Financial summary Q3 2026 3 Q&A Business update from Q3 20261
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Order intake of 1,104 MSEK in Q3 2026, +29% Order intake, MSEK Analysis and conclusions 426 769 893 930 816 855 854 968 941 140 0 1 000 2 000 3 000 4 000 5 000 0 200 400 600 800 1 000 1 200 Q423 Q124 Q224 Q324 Q424 Q125 Q225 Q325 Q425 Q126 38 Q226 63 1 041 Q326 473 677 1 108 979 1 104 +29% Order intake LTM (incl. Proforma) Acquisitions LTM HMS excl acquisitions • Q3 2026: 1,104 MSEK (855), +29% (organic +22%) • YTD: 3,191 MSEK (2,601), +23% (organic +15%) • Continued strong growth driven by investments in data centers and the semiconductor industry • APAC +40%, EMEA +20% and North America almost 10% • Pre-ordering is estimated to 70 MSEK, boosting the order intake in the quarter, underlying organic growth was 14% Bridge Q325-Q326, MSEK Bridge YTD, MSEK 186 63 Q3 2025 Organic 0 FX Acquisitions Q3 2026 855 1 104 403 241 2025 Q3 YTD Organic -55 FX Acquisitions 2026 Q3 YTD 2 601 3 191 15% -2% 9%
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Net sales 1,024 MSEK in Q3 2026, +15% Net sales, MSEK Bridge Q325-Q326, MSEK 760 890 843 894 951 929 941 964 0 1 000 2 000 3 000 4 000 5 000 0 200 400 600 800 1 000 1 200 760 890 843 894 951 929 941 964 0 1 000 2 000 3 000 4 000 5 000 0 200 400 600 800 1 000 1 200 Q423 Q124 Q224 Q324 Q424 Q125 Q225 Q325 Q425 42 Q126 50 Q226 60 Q326 616 845 792 807 971 991 1 024 +15% Net Sales LTM (Incl. Proforma) Acquisitions LTM HMS excl acquisitions 57 60 Q3 2025 Organic 13 FX Acquisitions Q3 2026 894 1 024 57 60 292 152 2025 Q3 YTD Organic -84 FX Acquisitions 2026 Q3 YTD 2 627 2 987 292 152 • Q3 2026: 1,024 MSEK (894), +15% (organic +6%) • YTD: 2,987 MSEK (2,627), +14% (organic +11%) • Record quarter in net sales and a milestone for HMS; first time over 1 BSEK • Book-to-bill 1.09 in constant currencies • Growth across all sales regions, especially APAC continues to develop strong 6% 1% 7% 11% -3% 6% Analysis and conclusions Bridge YTD, MSEK
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386 492 459 382 410 374 445 436 404 0 100 200 300 400 500 386 492 459 382 410 374 445 436 404 0 100 200 300 400 500 Q324 Q424 Q125 Q225 Q325 Q425 Q126 Q226 Q326 -1% IDS order intake & net sales, MSEK Analysis and conclusions • Order intake 404 MSEK (410), -1%, organic -3% • Net sales 448 MSEK (439), +2%, organic +2% • EBITA 113 MSEK (117), margin of 25.2% (26.6) • Somewhat softer performance than other divisions, primarily due to absence of project orders • Tariff-related effects continued to impact the division during the quarter Q3 2026: Industrial Data Solutions 399 395 418 377 439 481 418 445 448 10% 15% 20% 25% 30% 0 100 200 300 400 500 399 395 418 377 439 481 418 445 448 10% 15% 20% 25% 30% 0 100 200 300 400 500 Q324 Q424 Q125 Q225 Q325 Q425 Q126 Q226 Q326 +2% Net Sales EBITA Margin % Order intake 40% 24% 64% 12% 40% 24% 64% 12% EMEA Americas APAC Part of HMS EBITA
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190 234 250 250 241 273 293 305 405 140 38 63 0 100 200 300 400 500 Q324 Q424 Q125 Q225 Q325 Q425 Q126 Q226 Q326 433 343 468 +94% INT order intake & net sales, MSEK Analysis and conclusions • Order intake 468 MSEK (241) +94%, organic +70% • Net sales 341 MSEK (246), +38%, organic +16% • EBITA 108 MSEK (70), margin of 31.7% (28.4) • Continue strong demand in semiconductor and data center segment • Order intake includes approximately 70 MSEK of orders placed in advance, driven by uncertainty regarding future lead times and announced price increases • Underlying organic growth excluding pre-orders of +45% Q3 2026: Industrial Network Technology 275 246 257 269 263 290 284 281 50 60 20% 25% 30% 35% 0 100 200 300 400 500 Q324 Q424 Q125 Q225 Q325 Q425 42 Q126 Q226 Label 246 332 334 341 +38% Acquisitions LTM Net Sales EBITA Margin % Acquisitions LTM Order intake 39%42% 30% 28% 39%42% 30% 28% EMEA Americas APAC Part of HMS EBITA
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174 190 221 184 204 207 229 199 232 0 100 200 300 Q324 Q424 Q125 Q225 Q325 Q425 Q126 Q226 Q326 +14% NI order intake & net sales (incl proforma), MSEK Analysis and conclusions • Order intake 232 MSEK (204), +14%, organic +11% • Net sales 234 MSEK (209), +12%, organic +14% • EBITA 58 MSEK (55), margin of 24.7% (26.4) • Building Automation business developed positively during the third quarter, with Europe serving as the primary growth driver • Vehicle Communication strong in Asia and Americas but continued hesitant in Europe related to the exposure to the automotive industry Q3 2026: New Industries 190 192 215 197 207 212 234 15% 20% 25% 30% 0 100 200 300 Q324 Q424 Q125 Q225 Q325 Q425 Q126 Q226 Q326 209 220 +12% Net Sales EBITA Margin % Order intake 21% 62% 23% 15% 21% 62% 23% 15% EMEA Americas APAC Part of HMS EBITA
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Q3 2026: EBITA 280 MSEK (27.4%) EBITA, MSEK Analysis and conclusions • EBITA Q3: 280 MSEK (242), 27.4% (27.1) margin • EBITA YTD: 810 MSEK (615) 27.1% (23.4) margin • Q3 2026 gross margin of 62.7% (64.1) • Negative effects from higher component prices and tariffs, which this quarter affect a broader share of the product portfolio • Positive effect on 3 MSEK due to refund of previously paid U.S import tariffs following a U.S. court ruling, gross margin of 62.4% excluding tariff refund • OPEX Q3: 391 MSEK (362), organic increase of 6% • Capitalized R&D in Q3: 27 MSEK (19) EBITA, % 169 130 104 163 106 175 138 213 236 237 238 25327 30 31 29 29 28 28 28 0 100 200 300 400 500 600 700 800 900 1 000 1 100 0 50 100 150 200 250 300 Q423 4 Q124 Q224 27 Q324 Q424 Q125 Q225 Q325 Q425 27 Q126 Q226 173 134 130 190 136 205 167 242 264 264 266 Q326 280 4 +16% EBITA LTM Amort. of excess values EBIT 24% 27%23% 22% 15% 17% 23% 27%20% 28% 27% 27%
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Q3 2026: Adjusted EPS 3.82 SEK Adjusted EPS, SEK Analysis and conclusions 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 0.00 Q423 Q124 Q224 Q324 Q424 Q125 Q225 Q325 Q425 Q226 2.44 2.36 1.25 2.42 2.08 2.91 2.24 3.83 4.07 3.78 3.65 Q326 3.82 Q126 0% Adj.EPS LTM Adj.EPS Q3: • Adjusted EPS of 3.82 SEK (3.83) • Reported EPS 3.27 SEK (3.26) • FX effects on internal loans -22 MSEK YTD: • Adjusted EPS of 11.24 SEK (8.98), +25% • Reported EPS 9.60 SEK (7.23), +33%
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Q3 2026: Cash flow from ops. of 333 MSEK Q3: • Cash flow from ops. of 333 MSEK (258) • Changes in NWC, adding 49 MSEK (24) to cash flow, primarily increase in accounts payable YTD: • Cash flow from ops. of 916 MSEK (646) • Changes in NWC, adding 65 MSEK (142) to cash flow primarily inventory reduction and AP increase • Cash conversion 93% 119 58 152 205 187 201 258 250 334 333 0% 25% 50% 75% 100% 125% 0 50 100 150 200 250 300 350 Q423 Q124 Q224 Q324 Q424 Q125 Q225 Q325 Q425 Q126 Q226 231 Q326 177 +29% Cash conversion LTM (cash flow ops./EBITDA) Cash flow Cash flow, MSEK Analysis and conclusions
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Q3 2026: Net debt of 2,031 MSEK Net debt and leverage, MSEK Analysis and conclusions 127 261 275 137 197 185 194 192 188 189 118 124 -99 248 276 266 259 245 245 238 239 0 2 000 2 500 3 000 3 500 -500 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 Q423 132 -98 Q124 255 133 2 372 2 171 Q324 2 802 Q424 2 499 Q125 2 370 Q225 2 137 Q325 1 921 Q425 1 816 Q126 247 Q226 2 260 2 031 289 2 556 Q326 2 823 1 896 1 668 Q224 3 275 2 760 2 354 309 2 950 2 243 2 574 Net debt/EBITDA R12 IFRS16 Non interesting debt All other net debt • Net debt / EBITDA: 1.62x (2.81) • Net debt pre IFRS 16 / EBITDA: 1.52x (2.77) • Interest cost of 20 MSEK (28) • Continued focus on the M&A agenda
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Key takeaways from third quarter Gross Margin pressure from tariffs and component price increases Strong development in APAC and Europe • 27%+ margins in the quarter and YTD • Operating cash flow over 330 MSEK for second straight quarter, some temporary support from NWC • Increasing component prices for broader part of the portfolio • Revised tariff rules impacts negative • Price increases from 2027 communicated to mitigate effects • APAC +40% and Europe +20% organic growth in orders, important DACH region continues to recover • Quarterly sequential growth in 2026 EBITA and cash flow continues to develop positively
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Questions?