Interim report
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2 INTERIM REPORT JANUARY – SEPTEMBER 2026 Interim report January – September 2026 NET ASSET VALUE AND THE LATOUR SHARE • The net asset value showed steady growth over the nine -month period, driven by a strong earnings performance within the wholly -owned industrial operations, while the value of the listed portfolio contracted. • At the close of the period, the net asset value stood at SEK 216 per share, matching the SEK 216 per share recorded at the start of the year. When adjusted for dividends, this represents a 2.5 per cent increase. The benchmark index (SIXRX) rose 10.8 per ce nt. The net asset value was SEK 223 per share at 2 November.1 • The total return on the Latour share was -8.0 per cent compared with the SIXRX, which increased 10.8 per cent. INDUSTRIAL OPERATIONS Third quarter • The industrial operations’ order intake increased 8 per cent to SEK 7,175 m (6,644 m), representing 5 per cent growth on a constant currency basis for comparable entities. • The industrial operations’ net sales increased 7 per cent to SEK 7,164 m (6,688 m), representing 5 per cent growth on a const ant currency basis for comparable entities. • The industrial operations’ adjusted operating profit increased 30 per cent to SEK 1,213 m (936 m), representing an operating margin of 16.9 (14.0) per cent. • During the quarter, Nord -Lock Group signed an agreement to acquire the British company Bolt and Nut Manufacturing Limited, with the acquisition completed on 2 November. January – September • During the nine-month period, seven acquisitions and two disposals were completed within the wholly-owned industrial operations. Bemsiq acquired the British company cThings, Caljan acquired WyCo Services in the USA, and Latour Industries acquired the Swedish co mpanies Alstor AB and Scandinavian Sealing AB. Swegon acquired the Dutch company Western Airconditio ning, the Swiss company LaminAir, and Dantherm’s Danish residential ventilation business. It also completed the disposals of its Norwegian third- party products business and the Dutch company UltimAir. • The industrial operations’ order intake increased 6 per cent to SEK 22,431 m (21,220 m), representing 8 per cent growth on a constant currency basis for comparable entities. • The industrial operations’ net sales increased 3 per cent to SEK 21,125 m (20,559 m), representing 4 per cent growth on a constant currency basis for comparable entities. • Adjusted operating profit increased 9 per cent to SEK 3,098 m (2,831 m), resulting in an operating margin of 14.7 (13.8) per cent. INVESTMENT PORTFOLIO • During the nine-month period, the investment portfolio value decreased by 5.2 per cent, adjusted for dividends and portfolio changes. The benchmark index (SIXRX) rose 10.8 per cent. • In May, 7.6 million Class B shares in ASSA ABLOY and 16.4 million Class B shares in Securitas were sold for a purchase price of SEK 2.5 billion in each company in order to continue building the wholly -owned operations. Following the sale, Latour holds 29.0 per cent of the total number of voting rights in ASSA ABLOY and 27.6 per cent of the total number of voting rights in Securitas, and remains the principal owner and largest shareholder in both companies. • The acquisition of 1.5 million shares in Fagerhult in September increased Latour’s total voting rights in Fagerhult to 48.9 per cent. THE GROUP • Consolidated net sales totalled SEK 21,125 m (20,730 m), and profit after financial items was SEK 6,448 m (3,766 m). The income statement for the period includes a net charge of SEK - 1,982 m (-417 m) relating to accounting impairment losses and reversals o n investments in associates, and capital gains of SEK 3,132 m (4 m) arising on the disposal of shares in associates. • Consolidated profit after tax stood at SEK 5,841 m (3,346 m), representing a basic share price of SEK 9.11 (5.19). • Consolidated net debt stood at SEK 13,185 m (18,430 m). Net debt, excluding lease liabilities recognised under IFRS 16, was SEK 11,563 m (16,806 m) and is equivalent to 8 (11) per cent of the market value of total assets. EVENTS AFTER THE REPORTING PERIOD • There were no material events subsequent to the end of the reporting period. 1 The calculation of the net asset value on 2 November was based on the value of the investment portfolio at 17.30 on 2 Novembe r and the same values as on 30 September were used for the unlisted portfolio. LATOUR AT A GLANCE Investment AB Latour is a mixed investment company consisting of wholly -owned industrial operations and an investment portfolio of listed holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of ten substantial holdings that had a market value of SEK 77 billion as at 30 Se ptember 2026. The wholly -owned industrial operations are grouped into seven business areas: Bemsiq Group, Caljan, Hultafors Group, Innovalift, Latour Industries, Nord- Lock Group and Swegon. They generate annual sales of approximately SEK 29 billion (pro forma).
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INTERIM REPORT JANUARY – SEPTEMBER 2026 3 Chief Executive’s statement Record results in an improving market Latour’s industrial operations performed strongly during the third quarter, delivering record results alongside enhanced profitability. Net sales increased during the period, supported by previously postponed projects gradually getting underway and by the continued strong performance of our companies within their respective markets. We also saw indicators that several of our operations are continuing to gain market share. Order intake remained strong and the order backlog stands at a healthy level, establishing a stable foundation for the upcoming quarters. Market conditions continue to move in the right direction , with demand remaining consistently positive across the majority of our operations. However, the differences between various sectors and geographic regions persist. Segments of the traditional construction market, particularly residential construction and specific new -build sectors in Europe, remain cautious, which is adversely affecting parts of Innovalift and Swegon, among others. Conversely, robust activity in refurbishment, energy efficiency upgrades, and public and industrial infrastructure is driving growth across Bemsiq Group, Caljan, Innovalift, Nord -Lock Group and Swegon. The expansion of data centres and digital infrastructure continues at a rapid pace. Combined with investments in automation and infrastructure within sectors such as healthcare, education and defence, this creates significant opportunities for several segments of Latour’s industrial operations. Sustained organic growth and margin improvement Quarterly order intake increased by 8 per cent, representing 5 per cent organic growth. Net sales increased by 7 per cent, of which 5 per cent was organic growth. The order backlog strengthened further, closing the quarter at SEK 8,243 m, establishing strong fundamentals for sustained revenue growth in the coming quarters. Adjusted quarterly earnings reached an all-time high for the industrial operations, totalling SEK 1,213 m (93 6 m), with the margin improving to 16.9 (14.0) per cent. The increased sales volumes had a clear positive impact on earnings, generating good returns on investments and efficiency measures implemented across several of our operations . Coupled with good cost control and some positive currency effects , this contributed to the significant improvement in profitability. Overall, we are highly satisfied with this quarter’s performance. Strong growth and enhanced margins, reinforced by an expanding order backlog , provide a solid foundation as we enter the final quarter of the financial year. Nevertheless, the macroeconomic environment remains uncertain and geopolitical developments could rapidly alter the circumstances. However, we believe that the industrial operations are well equipped to respond to change and continue to deliver profitable growth. Continued investment for long-term growth Our acquisition activities remain at a high level , and we regularly evaluate opportunities to strengthen existing operations and build a presence in new areas. During the quarter, Nord-Lock Group signed an agreement to acquire the British company Bolt and Nut, thereby establishing a solid platform in the United Kingdom within specialty bolting , with significant opportunities for further growth and development. We completed seven acquisitions earlier in the year. Together with Bolt and Nut and the disposals that Swegon has carried out as part of its consolidation of operations, this delivers an additional SEK 900 m in net annualised acquired growth. More information about our acquisitions can be found on page 4. Alongside our acquisition activities, we continue to invest in and develop our existing operations, focusing on long-term competitiveness and profitable growth. Sustainability and digitalisation remain core pillars of these initiatives. Our long- term sustainability targets are unchanged and related initiatives are executed continuously across the operations. At the same time, we are stepping up our investments in AI, with the ambition to be at the forefront of applying the technology across our operations. Through targeted investments in AI, we support our companies in streamlining operational processes and, over the longer term, enhancing sales and product development. Mixed performance for the listed holdings Overall, the Stockholm Stock Exchange performed well during the first nine months of the year despite volatility driven by persistent macroeconomic uncertainty. The total value of Latour’s portfolio of listed holdings increased slightly in the third quarter, but decreased over the nine -month period by 5.2 per cent, adjusted for dividends and portfolio changes. Over the same period, the SIXRX benchmark index increased by 10.8 per cent. All of our listed holdings have now reported their third -quarter results, and the underlying performance is positive overall. The companies are adapting well to the current market conditions and, as in our wholly-owned industrial operations, we are seeing good progress across several areas, with continued healthy demand in key target segments. Johan Hjertonsson President and Chief Executive Officer
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4 INTERIM REPORT JANUARY – SEPTEMBER 2026 Industrial operations Order intake, net sales and earnings In the third quarter, order intake increased 8 per cent to SEK 7,175 m (6,644 m), representing 5 per cent organic growth on a constant currency basis. Net sales increased 7 per cent to SEK 7,164 m (6,688 m), representing 5 per cent growth on a constant currency basis for comparable entities. During the quarter, the adjusted operat ing profit of the wholly- owned industrial operations increased 30 per cent to SEK 1,213 m (936 m). The operating margin was 16.9 (14.0) per cent. The above figures only include subsidiaries of the wholly - owned business areas. See the table on page 5. Acquisitions/disposals During the third quarter, Nord -Lock Group signed an agreement for the acquisition of the entire share capital of Bolt and Nut Manufacturing Limited (Bolt and Nut), a leading manufacturer of special bolts and non-standard fasteners. The acquisition was completed on 2 November. From its facility in Wolverhampton in the United Kingdom, the company exports globally to highly demanding sectors, including oil and gas, petrochemicals, power generation, nuclear energy, and defence. Bolt and Nut was founded in 2008. Its annual revenue exceeds GBP 17 m, with profitability above Latour’s wholly- owned industrial operations. Earlier in the year Earlier in the year, seven acquisitions and two disposals were completed within the wholly -owned industrial operations. Latour Industries completed its acquisition of the entire shareholding of the Swedish company Alstor AB in January. Alstor is a leading provider of compact forestry machinery for thinning operations and forest stewardship. The company has its head office i n Dingle, Sweden. The company was founded in 1998 by Lars Jansson, and the business is currently run by his son Kristian Laurell. Alstor has 34 employees and annual sales of approximately SEK 190 m, with profitability in line with Latour’s wholly-owned industrial operations. Densiq, within Latour Industries, acquired the entire shareholding of the Swedish company Scandinavian Sealing AB in January. The company is a leading supplier of high-quality services and equipment for sealing leaks in pressurised systems in the process industry, and also provides services for pipe sealing and on -site machining. Scandinavian Sealing was founded in 2003 by the brothers Manuel and Mikael Lundqvist. Today, the company has 4 employees and generates an annual turnover of approximately SEK 15 m with profita bility surpassing Latour’s financial targets. On 1 June, Bemsiq acquired full ownership of cThings Limited. cThings delivers end -to-end hardware and software solutions, specialising in energy metering within buildings and district heating networks. Founded in 2017, the company has 9 employees and is h eadquartered in Cambridge in the UK. It generates GBP 2.5 m (FY2025) of annual turnover with profitability well above Latour’s financial targets. On 19 May, Caljan signed an agreement to acquire the entire shareholding of WyCo Services LLC in the USA. The acquisition was completed in June. WyCo is a premium provider of service and installation solutions within the material handling sector in the United States, operating with approximately 60 employees. Founded in 2018 and headquartered in Louisiana, the company has expanded since its inception to establish itself as a leading nationwide service partner in its market segment in the United States. In 2025, WyCo reported revenue of USD 23 m, with profitability in excess of Latour’s financial targets. On 1 April, Swegon acquired the entire shareholding of Western Airconditioning, an established Dutch distributor with a strong portfolio of indoor climate solutions, focusing on heating and cooling. The company was founded in 1988 and has almost 40 employe es. Its head office is located in Hoevelaken. In 2025, turnover stood at EUR 13 m. Profitability, consolidated in Swegon, is on par with Latour’s wholly-owned industrial operations. Swegon completed its acquisition of Dantherm’s residential ventilation business in June . The acquisition strengthens Swegon’s position in the residential indoor climate market in Denmark and allows it to expand its presence throughout the Nordic region. The acquisition deal encompasses Dantherm’s development, production and sales operations for residential ventilation units. The company is based in Skive, Denmark. In 2025, turnover stood at just over DKK 92 m, with profitability in excess of Latour’s wholly-owned industrial operations. On 23 June, Swegon acquired the entire shareholding of LaminAir AG, a Swiss distributor of room -based ventilation products with a strong presence in the Swiss market. LaminAir was founded in 1999 and has 11 employees. Its head office is located in Burgdorf , Switzerland. The company generates approximately SEK 100 m of annual turnover with a level of profitability well above Latour’s financial targets. As part of its initiative to streamline core business activities, Swegon executed three strategic divestments between December 2025 and April 2026, two of them in 2026. In 2025, the divested operations generated combined revenue of approximately SEK 400 m, with profitability materially below Latour’s financial targets.
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INTERIM REPORT JANUARY – SEPTEMBER 2026 5 Industrial operations summary Business area results 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 SEK m Q3 Q3 9 months 9 months Q3 Q3 9 months 9 months Q3 Q3 9 months 9 months Bemsiq Group 588 515 1,718 1,623 148 110 393 350 25.2 21.4 22.9 21.6 Caljan 539 345 1,385 1,086 105 46 210 169 19.3 13.3 15.1 15.5 Hultafors Group 1,640 1,597 4,973 4,926 304 214 806 677 18.6 13.4 16.2 13.7 Innovalift 836 812 2,482 2,481 120 109 288 288 14.3 13.4 11.6 11.6 Latour Industries 458 407 1,445 1,333 61 47 159 120 13.3 11.4 11.0 9.0 Nord-Lock Group 577 508 1,723 1,546 171 130 499 421 29.7 25.5 29.0 27.2 Swegon 2,531 2,506 7,413 7,577 304 280 743 806 12.0 11.2 10.0 10.6 Eliminations -5 -3 -14 -13 - - - - - - - - 7,164 6,688 21,125 20,559 1,213 936 3,098 2,831 16.9 14.0 14.7 13.8 Acquisition-related amortisations -5 -8 -17 -23 Restructuring costs -3 -4 -31 -37 Acquisition-related costs 18 -7 -23 -45 Write-down and earn-out adjustment -57 -20 -59 -172 Other companies and items¹ 62 171 29 -16 -18 -73 7,164 6,750 21,125 20,730 1,195 881 2,950 2,481 Effect of IFRS 16 12 9 33 30 7,164 6,750 21,125 20,730 1,207 890 2,983 2,511 Net sales Operating profit Operating margin % ¹ Net sales includes, among other items, divested businesses within Latour Industries. 2026 2025 2026 2025 SEK m TTM TTM TTM TTM Bemsiq Group 3,905 3,984 12.5 10.9 Caljan 3,101 3,014 10.3 7.1 Hultafors Group 6,497 6,653 17.0 15.5 Innovalift 4,048 3,470 10.4 10.7 Latour Industries 1,491 1,336 13.0 12.8 Nord-Lock Group 1,736 1,616 36.8 34.6 Swegon 7,645 7,523 13.7 14.2 Total 28,422 27,597 14.8 14.0 Operating capital¹ ¹Calculated as total assets less cash and other interest-bearing assets and less non-interest-bearing liabilities. Calculated on the average for the past 12 months. Return on operating capital % SEK m Total Organic Currency Acq. / Div. Total Organic Currency Acq. / Div. Total Organic Currency Acq. / Div. Bemsiq Group 14.2 11.9 0.1 2.0 5.8 7.5 -2.6 0.9 9.2 7.6 -4.5 5.9 Caljan 56.2 27.8 0.1 22.2 27.5 21.8 -4.1 8.3 7.0 12.2 -5.2 - Hultafors Group 2.6 1.7 1.0 - 1.0 2.6 -1.6 - -1.0 -1.0 -3.0 3.0 Innovalift 2.9 2.3 0.6 - 0.1 1.4 -1.6 0.2 35.4 5.5 -3.2 32.3 Latour Industries 12.5 1.3 -0.2 11.3 8.4 -0.7 -1.0 10.2 6.0 1.6 -1.6 6.0 Nord-Lock Group 13.6 12.1 1.6 - 11.4 12.5 -4.0 2.7 7.8 10.9 -5.9 2.7 Swegon 1.0 2.3 0.3 -1.6 -2.2 2.2 -1.9 -2.4 10.0 -0.2 -3.2 13.9 Total 7.1 5.1 0.5 1.4 2.8 4.3 -2.1 0.5 8.7 4.1 -3.4 9.9 9 months 2026 Full Year 2025 Growth in net sales,%Growth in net sales,% Growth in net sales, % Q3 2026
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6 INTERIM REPORT JANUARY – SEPTEMBER 2026 Industrial operations trailing 12 months 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 SEK mSEK m Operating profit Orders received Invoicing
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INTERIM REPORT JANUARY – SEPTEMBER 2026 7 Development by business area Highlights • Strong demand drove a 19 per cent increase in order intake compared with the corresponding quarter last year. • Organic net sales growth reached 12 per cent in the third quarter, driven, among other factors, by sustained strong performance within the North American market. • Building Automation continued to perform well, with particularly strong momentum in North America and the data center segment. • The Metering business recovered during the quarter, underpinned by a solid performance over the summer months, with overall growth reaching 26 per cent. • Profitability remained strong, with an adjusted operating margin of 25.2 per cent, reflecting higher volumes and continued good cost control. Breakdown of net sales Highlights • Sustained demand, driven by Loading & Unloading, maintained the order backlog at a healthy level heading into the upcoming quarters. • Organic net sales growth reached 28 per cent during the quarter, supported by sustained delivery capacity. • Strong quarterly results were driven by elevated volumes and good cost control, with the operating margin expanding to 19.3 per cent. • Earnings for the nine -month period were adversely affected by a net impact of approximately SEK 20 m, resulting from a provision for previously underpaid steel duties under Section 232 in the USA and refunded IEEPA duties. Breakdown of net sales 2026 2025 2026 2025 2025 25/26 (SEK m) Q3 Q3 9 months 9 months Full-year TTM Order intake 590 497 1,761 1,596 2,123 2,288 Net sales 588 515 1,718 1,623 2,136 2,231 EBITDA 165 128 445 398 500 547 EBITDA¹ 153 116 408 368 458 498 EBIT adj.¹ 148 110 393 350 445 487 EBIT¹ 146 110 388 349 433 471 EBIT adj. %¹ 25.2 21.4 22.9 21.6 20.8 21.8 EBIT %¹ 24.8 21.3 22.6 21.5 20.3 21.1 Total growth in net sales % 14.2 5.1 5.8 9.3 9.2 Organic % 11.9 5.0 7.5 6.3 7.6 Exchange effects % 0.1 -4.8 -2.6 -3.8 -4.5 Acquisitions / Divestitures % 2.0 4.9 0.9 6.6 5.9 Average number of employees 740 747 743 732 734 ¹Excl. IFRS 16. 2026 2025 2026 2025 2025 25/26 (SEK m) Q3 Q3 9 months 9 months Full-year TTM Building Automation 462 414 1,345 1,280 1,679 1,744 Metering 127 101 375 345 460 489 Eliminations -1 -1 -2 -2 -2 -2 588 515 1,718 1,623 2,136 2,231 Pro forma adjustment¹ 25 Trailing 12 months pro forma 2,256 ¹ Pro forma for completed acquisitions. 2026 2025 2026 2025 2025 25/26 (SEK m) Q3 Q3 9 months 9 months Full-year TTM Order intake 531 681 1,652 1,433 1,900 2,119 Net sales 539 345 1,385 1,086 1,542 1,841 EBITDA 116 57 219 202 322 340 EBITDA¹ 111 54 209 191 308 325 EBIT adj.¹ 105 46 210 169 278 319 EBIT¹ 102 44 182 163 270 289 EBIT adj. %¹ 19.3 13.3 15.1 15.5 18.0 17.3 EBIT %¹ 18.9 12.7 13.1 15.0 17.5 15.7 Total growth in net sales % 56.2 -12.7 27.5 0.2 7.0 Organic % 27.8 -7.6 21.8 3.8 12.2 Exchange effects % 0.1 -5.2 -4.1 -3.6 -5.2 Acquisitions / Divestitures % 22.2 - 8.3 - - Average number of employees 746 590 743 571 588 ¹Excl. IFRS 16. 2026 2025 2026 2025 2025 25/26 (SEK m) Q3 Q3 9 months 9 months Full-year TTM Loading & Unloading 342 149 936 563 821 1,195 Automated Systems 6 28 31 86 131 77 Aftermarket 191 167 417 438 589 569 539 345 1,385 1,086 1,542 1,841 Pro forma adjustment¹ 182 2,023 ¹ Pro forma for completed acquisitions. Trailing 12 months pro forma Bemsiq Group is a market -leading, global provider of smart devices for measuring, collecting and transferring data in automated building management, energy monitoring and industry optimisation systems. Its mission is to make data accessible and manageable to enable a smarter and more sustainable society. With operations spanning Europe, North America, the Middle East and Asia, it is Bemsiq Group’s objective to provide an end-to-end product portfolio within its field. Caljan is a global supplier of automation technology for parcel handling in the logistics and e -commerce sectors. Caljan’s products help packing companies, distributors and manufacturers around the world to optimise their supply chains. Flows are increased, costs are reduced and working environments are made safer and more ergonomic. Caljan has its head office in Aarhus, Denmark, and subsidiaries in the USA and several European countries.
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8 INTERIM REPORT JANUARY – SEPTEMBER 2026 Highlights • During the quarter, net sales increased by 3 per cent overall, including 2 per cent on an organic basis. • The Hardware segment performed well during the quarter, expanding organically by 5 per cent. Personal Protective Equipment continued to be affected by challenging market conditions, with performance in line with the previous year when adjusted for currency effects. • The combination of a resilient gross margin and well-balanced operating expenses underpinned the operating margin’s expansion to 18.6 per cent during the quarter. • Operating profit benefitted from a SEK 44 m refund of IEEPA duties. Breakdown of net sales Highlights • Robust order intake within Components & modernisation drove a 13 per cent increase in total order intake compared with the prior year. • Net sales increased 3 per cent, with growth in Components & modernisation and Direct sales & services offsetting lower volumes in Lift manufacturing. • The sustained year-on-year gross margin expansion was underpinned by effective cost control and strategic initiatives. • Profitability remained stable, demonstrating strong resilience within a challenging market environment. Breakdown of net sales 2026 2025 2026 2025 2025 25/26 (SEK m) Q3 Q3 9 months 9 months Full-year TTM Order intake 1,616 1,566 4,950 4,926 6,711 6,735 Net sales 1,640 1,597 4,973 4,926 6,719 6,766 EBITDA 355 254 956 787 1,137 1,306 EBITDA¹ 327 230 873 711 1,031 1,193 EBIT adj.¹ 304 214 806 677 978 1,107 EBIT¹ 303 206 801 639 935 1,097 EBIT adj. %¹ 18.6 13.4 16.2 13.7 14.6 16.4 EBIT %¹ 18.5 12.9 16.1 13.0 13.9 16.2 Total growth in net sales % 2.6 2.1 1.0 0.6 -1.0 Organic % 1.7 1.7 2.6 0.3 -1.0 Exchange effects % 1.0 -3.4 -1.6 -2.4 -3.0 Acquisitions / Divestitures % - 3.9 - 2.9 3.0 Average number of employees 1,894 1,805 1,860 1,808 1,829 ¹ Excl. IFRS 16. 2026 2025 2026 2025 2025 25/26 (SEK m) Q3 Q3 9 months 9 months Full-year TTM Personal protective equipment 1,139 1,128 3,520 3,472 4,815 4,863 Hardware 501 469 1,453 1,454 1,904 1,903 Eliminations - - - - - - 1,640 1,597 4,973 4,926 6,719 6,766 Pro forma adjustment¹ - 6,766 ¹ Pro forma for completed acquisitions. Trailing 12 months pro forma 2026 2025 2026 2025 2025 25/26 (SEK m) Q3 Q3 9 months 9 months Full-year TTM Order intake 879 778 2,568 2,561 3,487 3,495 Net sales 836 812 2,482 2,481 3,436 3,437 EBITDA 143 126 354 341 491 505 EBITDA¹ 132 117 322 315 455 463 EBIT adj.¹ 120 109 288 288 420 420 EBIT¹ 120 109 288 288 420 420 EBIT adj. %¹ 14.3 13.4 11.6 11.6 12.2 12.2 EBIT %¹ 14.3 13.4 11.6 11.6 12.2 12.2 Total growth in net sales % 2.9 35.7 0.1 34.6 35.4 Organic % 2.3 6.0 1.4 5.3 5.5 Exchange effects % 0.6 -3.3 -1.6 -2.7 -3.2 Acquisitions / Divestitures % - 32.1 0.2 31.3 32.3 Average number of employees 1,334 1,305 1,321 1,294 1,293 ¹Excl. IFRS 16. 2026 2025 2026 2025 2025 25/26 (SEK m) Q3 Q3 9 months 9 months Full-year TTM Lift manufacturing 357 387 1,130 1,205 1,675 1,601 Components & modernisation 385 348 1,088 1,043 1,423 1,468 Direct sales & services 139 130 407 389 546 564 Eliminations -45 -53 -143 -156 -209 -195 836 812 2,482 2,481 3,436 3,437 Pro forma adjustment¹ - 3,437 ¹ Pro forma for completed acquisitions. Trailing 12 months pro forma Hultafors Group is a leading group of premium brands whose shared vision is “Improving how the world works”. The portfolio contains an extensive range of durable quality products for professional users; from workwear, footwear and protective equipment to handheld tools and work equipment. The products are developed, manufactured and sold through the company’s own brands, and are available to purchase online, and via partners and leading distributors in almost 70 countries globally, with the emphasis on Europe and North America. Innovalift is a group of leading companies that design, manufacture and install platform lifts, stair lifts and elevator components. Innovalift’s family of companies consists of Aritco, Vimec and Motala Hissar, which manufacture platform lifts, TKS Heis and Gartec, which install and service lifts, and Vega, Esse-Ti, Arkel and BS Tableau, which supply lift components and modernisation solutions.
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INTERIM REPORT JANUARY – SEPTEMBER 2026 9 Highlights • Total order intake increased 36 per cent on the prior-year quarter. Adjusted for impacts of acquisitions and exchange rate effects, order intake was up 16 per cent on the prior year. • While REAC and MAXAGV reported a good underlying demand, market conditions remained challenging for several other entities. • Third-quarter net sales delivered an overall increase of 12 per cent, with acquisitions accounting for 11 per cent of this growth. • Improved profitability across most of the business units underpinned the 13.3 per cent expansion of the operating margin during the quarter. Breakdown of net sales Highlights • Organic order intake increased by 26 per cent compared with the prior-year quarter. Growth was broad -based and well distributed across regions and industries. • Net sales sustained on a positive trajectory, accompanied by strong profitability. Organic growth was 12 per cent. Both net sales and profitability benefited from the weaker Swedish krona. • Adjusted operating profit reached a new record high for a single quarter, amounting to SEK 171 m. • Profitability remained stable at a high level, and the operating margin for the quarter amounted to 29.7 per cent. • During the quarter, an agreement was signed to acquire the UK-based company Bolt and Nut Manufacturing Limited, with the acquisition completed on 2 November. More details can be found on page 4. Breakdown of net sales 2026 2025 2026 2025 2025 25/26 (SEK m) Q3 Q3 9 months 9 months Full-year TTM Order intake 517 380 1,493 1,264 1,741 1,969 Net sales 458 407 1,445 1,333 1,753 1,865 EBITDA 82 66 217 181 235 272 EBITDA¹ 70 55 182 147 190 225 EBIT adj.¹ 61 47 159 120 154 193 EBIT¹ 61 47 155 120 154 189 EBIT adj. %¹ 13.3 11.4 11.0 9.0 8.8 10.4 EBIT %¹ 13.3 11.4 10.7 9.0 8.8 10.1 Total growth in net sales % 12.5 7.4 8.4 8.1 6.0 Organic % 1.3 2.3 -0.7 3.4 1.6 Exchange effects % -0.2 -1.6 -1.0 -1.2 -1.6 Acquisitions / Divestitures % 11.3 6.7 10.2 5.8 6.0 Average number of employees 871 859 888 871 854 ¹Excl. IFRS 16. 2026 2025 2026 2025 2025 25/26 (SEK m) Q3 Q3 9 months 9 months Full-year TTM LSAB 143 139 465 471 626 620 REAC 132 122 411 391 522 541 Densiq 91 95 271 287 376 361 MAXAGV 51 51 150 184 228 194 Alstor 43 - 153 - - 153 Eliminations -1 - -5 - - -5 458 407 1,445 1,333 1,753 1,865 Pro forma adjustment¹ 64 1,929 ¹ Pro forma for completed acquisitions. Trailing 12 months pro forma 2026 2025 2026 2025 2025 25/26 (SEK m) Q3 Q3 9 months 9 months Full-year TTM Order intake 607 475 1,790 1,694 2,235 2,331 Net sales 577 508 1,723 1,546 2,091 2,268 EBITDA 192 156 559 480 640 719 EBITDA¹ 182 143 532 451 601 683 EBIT adj.¹ 171 130 499 421 560 639 EBIT¹ 169 128 494 407 544 631 EBIT adj. %¹ 29.7 25.5 29.0 27.2 26.8 28.2 EBIT %¹ 29.3 25.3 28.7 26.3 26.0 27.8 Total growth in net sales % 13.6 10.4 11.4 8.4 7.8 Organic % 12.1 13.2 12.5 11.3 10.9 Exchange effects % 1.6 -7.4 -4.0 -4.7 -5.9 Acquisitions / Divestitures % - 4.2 2.7 1.6 2.7 Average number of employees 743 722 742 716 718 ¹Excl. IFRS 16. 2026 2025 2026 2025 2025 25/26 (SEK m) Q3 Q3 9 months 9 months Full-year TTM EMEA 270 244 816 706 960 1,070 Americas 176 157 515 486 659 688 Asia Pacific 131 107 391 354 473 510 577 508 1,723 1,546 2,091 2,268 Pro forma adjustment¹ - 2,268 ¹ Pro forma for completed acquisitions. Trailing 12 months pro forma Latour Industries consists of a number of operating areas, each with its own business concept and business model. Our ambition is to develop independent entities, within the business area, that will eventually be able to establish themselves as separate business areas within Latour. Nord-Lock Group is a world-leading manufacturer of reliable and secure bolted joint solutions. The product portfolio comprises a wide range of innovative products where superior performance, quality and safety are paramount. Its global sales organisation and internationa l partners provide customers with in- depth expertise and the right solution for bolted joints of all types.
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10 INTERIM REPORT JANUARY – SEPTEMBER 2026 Highlights • Third-quarter order intake expanded by 8 per cent on an organic basis, underpinned by strong demand in Sweden, the Netherlands, North America and India. • Net sales increased 1 per cent during the quarter, adversely affected by disposals and exchange rate effects. Organic growth was 2 per cent. • Sweden, North America, and the Rest of the world continue a positive growth trajectory, whereas Europe is experiencing a weaker performance. • Profitability improved during the quarter as a result of productivity-optimisation measures. Breakdown of net sales 2026 2025 2026 2025 2025 25/26 (SEK m) Q3 Q3 9 months 9 months Full-year TTM Order intake 2,434 2,267 8,217 7,746 10,400 10,870 Net sales 2,531 2,506 7,413 7,577 10,272 10,108 EBITDA 387 355 986 1,035 1,425 1,377 EBITDA¹ 339 313 844 907 1,250 1,187 EBIT adj.¹ 304 280 743 806 1,113 1,049 EBIT¹ 304 280 743 806 1,113 1,049 EBIT adj. %¹ 12.0 11.2 10.0 10.6 10.8 10.4 EBIT %¹ 12.0 11.2 10.0 10.6 10.8 10.4 Total growth in net sales % 1.0 9.8 -2.2 12.7 10.0 Organic % 2.3 -0.2 2.2 -1.5 -0.2 Exchange effects % 0.3 -3.4 -1.9 -2.6 -3.2 Acquisitions / Divestitures % -1.6 13.9 -2.4 17.5 13.9 Average number of employees 4,133 3,991 4,073 3,944 3,953 ¹Excl. IFRS 16. 2026 2025 2026 2025 2025 25/26 (SEK m) Q3 Q3 9 months 9 months Full-year TTM Sweden 370 341 1,247 1,162 1,561 1,646 Rest of Nordics 246 267 754 846 1,112 1,020 Rest of Europe 1,564 1,654 4,551 4,889 6,675 6,336 North America 247 195 639 530 716 825 Rest of world 104 49 222 149 207 280 2,531 2,506 7,413 7,577 10,272 10,108 Pro forma adjustment¹ 69 10,272 10,176 ¹ Pro forma for completed acquisitions. 2026 2025 2026 2025 2025 25/26 (SEK m) Q3 Q3 9 months 9 months Full-year TTM Air Handling, Cooling & Heating 1,294 1,357 3,759 4,015 5,471 5,215 Room Units 827 819 2,530 2,583 3,456 3,403 Services 280 252 839 779 1,071 1,131 Other 130 79 285 200 274 359 2,531 2,506 7,413 7,577 10,272 10,108 Trailing 12 months pro forma The comparison periods have been updated to reflect a new reporting structure. Swegon provides components and innovative system solutions that create a good indoor climate and contribute to significant energy savings in all types of buildings. Swegon’s products constitute a turnkey solution for the perfect indoor climate.
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INTERIM REPORT JANUARY – SEPTEMBER 2026 11 Latour share net asset value In order to facilitate the evaluation of Latour’s net asset value, Latour provides an estimated range of the value (Enterprise Value) for each business area based on EBIT multiples. The method used to calculate the value of the wholly-owned industrial operations is described in greater detail on the company’s website, latour.se. In some cases, the valuation multiples for comparable companies span a very large range. For this reason, the multiples may be adjusted in order to avoid unreasonable values. The indicative value stated below is not a complete market valuation of Latour’s holdings. Latour’s method of valuing the wholly -owned industrial operations is relatively cautious, and the fact that Latour uses backward-looking comparables means that valuations do not always fully follow stock market fluctuations. The stock market’s trend during the year is therefore not fully reflected in Latour’s net asset value. At the end of September, the net asset value stood at SEK 216 per share, which was the same as at the beginning of the year. Adjusted for dividends, this represents an increase of 2.5 per cent, while the SIXRX benchmark index increased by 10.8 per cent. The value of the wholly-owned industrial operations has appreciated significantly, driven by robust earnings performance rather than changes in valuation multiples. At the same time, the value of the listed portfolio has contracted during the period. Latour does not claim that the valuation of the wholly - owned industrial operations is anything other than an indication. A net asset value can be calculated on a number of different bases. For example, the industrial operations as a whole could be measured against other established listed industrial groups with mixed industrial holdings and a clear growth agenda. The EV/EBIT multiple for these companies is significantly higher. Valuation² SEK m Average Bemsiq Group 2,256 472 18 – 22 8,494 – 10,382 9,438 13 – 16 Caljan 2,023 371 18 – 22 6,678 – 8,162 7,420 10 – 13 Hultafors Group 6,766 1,107 12 – 16 13,284 – 17,712 15,498 21 – 28 Innovalift 3,437 420 13 – 17 5,460 – 7,140 6,300 9 – 11 Latour Industries 1,929 204 12 – 16 2,448 – 3,264 2,856 4 – 5 Nord-Lock Group 2,268 639 16 – 20 10,224 – 12,780 11,502 16 – 20 Swegon 10,176 1,109 15 – 19 16,635 – 21,071 18,853 26 – 33 28,855 4,322 63,223 – 80,511 99 – 126 Industrial operations valuation, average 71,867 113 Listed shares (see table on page 12 for breakdown) 77,383 121 Other holdings Latour Future Solutions 256 0 Composite Sound, 10.3 %⁴ 5 0 Oxeon, 29.6 %⁴ 28 0 Dilution effect of option programme 0 0 Consolidated net debt (excl IFRS 16) -11,563 -18 Estimated value 137,976 216 (129 332 – 146 620) (202 – 229) ¹Trailing 12 months for current company structure (proforma) and with deductions for minority shares. ²EV/EBIT recalculated taking into consideration the listed share price on 30 of September 2026 for comparable companies in each business area. ³Calculated on the basis of the number of outstanding shares. ⁴Valued according to the book value. Net sales¹ SEK/share³ Valuation EBIT multiple Range Valuation²EBIT adj. ¹ -80% -60% -40% -20% 0% 20% 40% 0 50 100 150 200 250 300 350 400 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Net asset discount/premiumSEK per share Net asset discount/premium Share price Net asset value
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12 INTERIM REPORT JANUARY – SEPTEMBER 2026 The investment portfolio at 30 September 2026 In the nine- month period, the value of the investment portfolio decreased by 5.2 per cent, adjusted for dividends and portfolio changes, while the benchmark index (SIXRX) increased by 10.8 per cent. In May, 7.6 million Class B shares in ASSA ABLOY and 16.4 million Class B shares in Securitas were sold for a purchase price of SEK 2.5 billion in each company. Following the sale, Latour holds 29.0 per cent of the total number of voting rights in ASSA ABLOY and 27.6 per cent of the total number of voting rights in Securitas, and remains the principal owner and largest shareholder in both companies. The acquisition of 1.5 million shares in Fagerhult in September increased Latour’s total voting rights in Fagerhult to 48.9 per cent. Cost¹ Listed share price ² Market value Share of votes Share of equity Share Number SEK SEK m SEK m % % Alimak Group 32,033,618 2,883 120 3,844 30.3 29.8 ASSA ABLOY³ 97,828,305 1,618 356 34,788 29.0 8.8 CTEK 24,706,950 1,218 13 331 35.3 35.3 Fagerhult 86,208,480 1,924 18 1,519 48.9 48.7 HMS Networks 13,014,532 612 545 7,093 25.9 25.9 Nederman 10,538,487 306 126 1,332 30.0 30.0 Securitas³ 46,036,942 1,653 154 7,099 27.6 8.0 Sweco³ ⁴ 97,867,440 479 129 12,644 21.0 26.9 Tomra⁵ 62,420,000 1,605 (NOK) 92 5,941 21.1 21.1 Troax 18,060,000 397 155 2,792 30.2 30.1 Total 12,696 77,383 ¹All holdings are reported as associated companies in the balance sheet. ²The last price paid is used as the listed share price. ³Due to the limited trading in class A shares in Sweco, and the fact that the class A shares in ASSA ABLOY and Securitas are unlisted, they have been given the same listed share price as the companies' class B shares. Holdings consisting of both class A and B shares are reported in the table as one unit. ⁴The cost of the class B shares are SEK 34 m higher than in the parent company through the exercise of call options. ⁵At the end of the report period, the listed share price was NOK 91.60 which has been translated to SEK at the exchange rate on the balance sheet date. 88,0 -2,12 -4,77 1,64 0,42 0,10 0,02 -0,46 -0,54 -0,81 -1,83 77,4 76 78 80 82 84 86 88 90 25/12/31 Acquired/ divested HMS Securitas Troax CTEK Nederman ASSA ABLOY Alimak Tomra Sweco Fagerhult 26/09/30 Investment portfolio during 2026 SEK billion Movements in investment portfolio values (SEK billion). The figures include acquired and divested shares but not dividends. D uring the period, shares in ASSA ABLOY and Securitas were divested, with a total value of SEK 5 billion. Shares in Fagerhult have been acquired for SEK 24 m. SEK billionSEK billionSEK billion SEK -10.6 billion-2,24 -60% -50% -40% -30% -20% -10% 0% 10% 20% 30% HMS Securitas CTEK Troax ASSA ABLOY Sweco Alimak Tomra Nederman Fagerhult SIXRX (10,8%) Investment portfolio (-5.2%)
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INTERIM REPORT JANUARY – SEPTEMBER 2026 13 Results and financial position The Group Consolidated profit after financial items was SEK 6,448 m (3,766 m). Profit after tax stood at SEK 5,841 m (3,346 m), representing a basic share price of SEK 9.11 (5.19 ). The income statement for the period includes a net impairment charge of SEK -1,982 m (-417 m) relating to accounting impairment losses and reversals on investments in associates. Gains on the disposal of shares in associates contributed SEK 3,132 m (4 m) to earnings. Consolidated cash flow stood at SEK 1,507 m ( -776 m). Consolidated cash on hand and liquid investments was SEK 4,249 m (2,017 m). Interest-bearing liabilities, excluding pension liabilities and lease liabilities, totalled SEK 15,456 m (18,587 m). Consolidated net debt stood at SEK 13,185 m (18,430 m). Net debt, excluding lease liabilities recognised under IFRS 16, was SEK 11,563 m (16,806 m). The equity ratio was 81 (79) per cent calculated on reported equity in relation to total assets, including undisclosed surpluses in associated companies. In February, Latour updated the base prospectus for its existing MTN programme and concurrently submitted an application to the Swedish Financial Supervisory Authority to issue bonds denominated in NOK. As at 30 September 2026, there was an outstanding bal ance of SEK 11,450 m on the MTN programme. Latour has previously issued a Swedish commercial paper programme with a limit of SEK 4,000 m. As at 30 September 2026, Latour had no outstanding balance on commercial papers. There have been no transactions with related parties that have materially affected the financial position or the performance of the Group. Investments During the period, SEK 234 m (524 m) was invested in property, plant and equipment, of which SEK 176 m (303 m) in machinery and equipment and SEK 58 m (221 m) in properties. SEK 25 m (210 m) of annual investment outlay relates to fixed assets in newly acquired entities. Parent company The parent company’s profit after financial items was SEK 7,297 m (2,657 m), which includes a SEK 4,540 m (0 m) gain on the disposal of interests in associates and SEK 2,976 m (2,568 m) in dividend income from associates and subsidiaries. Parent company equity ratio was 57 (45) per cent. The number of class A shares issued is 47,586,360 and the number of class B shares is 592,253,640. Not including repurchased shares, the number of outstanding shares on 30 September 2026 amounted to 639,318,250. At the end of the period, Latour held 521,750 repurchased class B shares. The total number of issued call options was 1,803,000, which give the right to purchase the same number of shares. Events after the reporting period There were no material events subsequent to the end of the reporting period. Risks and uncertainties The main risk to which the Group and the parent company are exposed is the risk attributable to adverse changes in the values of financial instruments, including a general decline in the stock market or in the value of an individual holding. This includes uncertainties relating to inflation, changes in exchange rates and interest rates. We have managed these risks well so far and are confident that we are ready and prepared to address any that may arise. Latour has a well-diversified holding of shares, spread across ten listed holdings and seven wholly -owned business areas. This means that the development and performance of an individual holding will not have a drastic impact on the portfolio as a whole. As the wholly-owned industrial operations have increased in size, Latour as a whole is influenced to a higher degree by changes attributable to these operations. On the whole, Latour is deemed to have a good risk diversification in its portfolio, which covers several industries, with a certain emphasis on sectors linked to the construction industry. Construction can also be divided into several dimensions, such as new builds o r government-subsidised repair, conversion or extension work, locally or globally, and housing, office and industrial premises or infrastructure projects. No material risks are deemed to have arisen other than those described in Note 32 of Latour’s 2025 Annual Report. Accounting policies This interim report has been prepared in accordance with the Swedish Annual Accounts Act and IAS 34 Interim Reporting in respect of the Group, and in accordance with the Swedish Annual Accounts Act and the Swedish Corporate Reporting Board’s recommendation RFR 2 Accounting for Legal Entities in respect of the parent company. The accounting policies and basis of preparation that have been applied in the Annual Report for 2025 have also been applied for the Group. A full description of the Group’s applied accounting policies is presented in Note 2 of the Annual Report for 2025. Changes to accounting standard requirements that came into effect on 1 January 2026 have not had any material impact on the Group’s or the parent company’s accounting as at 30 September 2026. The Group is preparing for the implementation of IFRS 18 (Presentation and Disclosure in Financial Statements), which becomes effective on 1 January 2027. As the Latour Group already reports its investment activities separately from its industrial operations within the income statement, IFRS 18 is expected to primarily impact classification, presentation and disclo sure requirements in the financial statements. The most significant identified impact relates to the classification of foreign exchange differences across the standard’s various income statement categories. Beyond this, the impacts of the implementation ar e expected to be limited. The Latour Group uses a number of economic indicators that are not defined in the set of accounting rules used by the Group, known as alternative performance measures. Definitions of the economic indicators can be found on page 26 of this report and in Latour’s latest Annual Report. Details of how the financial metrics have been calculated for current and prior periods can be found in the set of tables in this report and Latour’s latest Annual Report. The Annual Reports for 1984 to 2025 are available for viewing on Latour’s website. Nomination Committee The Nomination Committee for the Annual General Meeting on 13 May 2027 comprises the following members: Jan Svensson, Chairman (the Douglas family, including related parties), Fredrik Palmstierna (the Palmstierna family, including related parties), Erik Brändström (Spiltan Fonder AB), and Olle Nordström (Skirner AB). The Nomination Committee can be contacted through Latour’s website www.latour.se under Corporate Governance, Nomination Committee. Gothenburg, 3 November 2026 Johan Hjertonsson, President and CEO
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14 INTERIM REPORT JANUARY – SEPTEMBER 2026 Auditor’s review report Investmentaktiebolaget Latour Corporate ID 556026-3237 Introduction We have conducted a review of the condensed financial statements for the interim period (interim report) for Investmentaktiebolaget Latour as at 30 September 2026 and the nine-month period ending on that date. The Board of Directors and the Chief Executive Officer are responsible for the preparation and presentation of this interim report in accordance with IAS 34 and the Swedish Annual Accounts Act. Our responsibility is to express a conclusion on this interim report based on our review. Focus and scope of the 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 of interim financial information consists of making enquiries, 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 International Standards on Auditing and generally accepted auditing practice. The review procedures that are undertaken do not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Conclusion Based on our review, nothing has come to our attention that causes us to believe that the interim report is not prepared, in all material respects, 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. Gothenburg, 3 November 2026 Ernst & Young AB Andreas Mast Authorised Public Accountant
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INTERIM REPORT JANUARY – SEPTEMBER 2026 15 Condensed consolidated income statement Condensed consolidated statement of comprehensive income 2026 2025 2026 2025 25/26 2025 (SEK m) Note Q3 Q3 9 months 9 months TTM Full-year Net sales 5 7,164 6,750 21,125 20,730 28,540 28,145 Cost of goods sold -4,223 -4,111 -12,593 -12,556 -17,003 -16,966 Gross profit 2,941 2,639 8,532 8,174 11,537 11,179 Sales costs -984 -979 -3,073 -3,056 -4,134 -4,117 Administrative costs -633 -593 -1,987 -1,887 -2,643 -2,543 Research and development costs -200 -184 -629 -603 -847 -821 Other operating revenue 138 31 430 229 643 442 Other operating expenses -55 -24 -290 -346 -436 -492 Operating profit 1,207 890 2,983 2,511 4,120 3,648 Income from interests in associates 879 535 3,677 2,111 4,753 3,187 Management costs -9 -9 -27 -26 -35 -34 Profit before financial items 2,077 1,416 6,633 4,596 8,838 6,801 Financial income 104 11 294 41 305 52 Financial expenses -157 -205 -479 -871 -715 -1,107 Profit after financial items 2,024 1,222 6,448 3,766 8,428 5,746 Taxes -217 -166 -607 -420 -986 -799 Profit/loss for the period 1,807 1,056 5,841 3,346 7,442 4,947 - - Attributable to: Parent company shareholders 1,801 1,053 5,827 3,320 7,424 4,917 Non-controlling interests 6 3 14 26 18 30 Earnings per share regarding profit attributable to parent company shareholders Basic share, SEK 2.81 1.65 9.11 5.19 11.61 7.69 Diluted share, SEK 2.80 1.64 9.08 5.18 11.57 7.68 Average number of basic shares outstanding 639,318,250 639,318,250 639,318,250 639,318,250 639,318,250 639,318,250 Average number of diluted shares outstanding 640,802,826 641,019,793 641,153,505 640,967,087 641,198,432 640,451,250 Number of outstanding shares 639,318,250 639,318,250 639,318,250 639,318,250 639,318,250 639,318,250 2026 2025 2026 2025 25/26 2025 (SEK m) Note Q3 Q3 9 months 9 months TTM Full-year Profit/loss for the period 1,807 1,056 5,841 3,346 7,442 4,947 Other comprehensive income: Items that will not be recycled to the income statement Restatement of net pension obligations - - - - 21 21 - - - - 21 21 Items that may subsequently be recycled to the income statement Change in translation reserve for the period 444 -184 1,040 -1,162 682 -1,520 Change in hedging reserve for the period -118 61 -305 157 -171 291 Change in associated companies' equity 688 -637 680 -1,230 298 -1,612 1,014 -760 1,415 -2,235 809 -2,841 Other comprehensive income, net after tax 1,014 -760 1,415 -2,235 830 -2,841 Comprehensive income for the period 2,821 296 7,256 1,111 8,272 2,127 Attributable to: Parent company shareholders 2,807 293 7,238 1,085 8,250 2,097 Non-controlling interests 14 3 18 26 22 30
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16 INTERIM REPORT JANUARY – SEPTEMBER 2026 Condensed consolidated cash flow statement Condensed consolidated balance sheet 2026 2025 2026 2025 25/26 2025 (SEK m) Q3 Q3 9 months 9 months TTM Full-year Operating profit 1,207 890 2,983 2,511 4,120 3,648 Other adjustment to non-cash items 265 231 669 787 831 949 Paid tax -234 -214 -680 -715 -803 -838 Operating cash flows before movements in working capital 1,238 907 2,972 2,583 4,148 3,759 Movements in working capital -45 -22 -499 -404 -109 -14 Operating cash flows 1,193 885 2,473 2,179 4,039 3,745 Investing cash flow 6 -599 -1,050 -3,881 -1,268 -4,099 Equity investment -33 34 6,294 1,225 6,695 1,626 Cash flow after operating and investing activities 1,166 320 7,717 -477 9,466 1,272 Financing cash flow -1,808 -427 -6,210 -299 -7,316 -1,405 Cash flow for the period -642 -107 1,507 -776 2,150 -133 Cash at beginning of the period 4,822 2,156 2,590 2,960 2,017 2,960 Exchange rate difference in cash 69 -32 152 -167 82 -237 Cash at end of the period 4,249 2,017 4,249 2,017 4,249 2,590 (SEK m) 2026/09/30 2025/09/30 2025/12/31 ASSETS Goodwill 20,484 19,170 18,827 Other intangible assets 406 427 400 Property plant and equipment 4,185 4,119 4,264 Financial assets 29,209 30,881 31,157 Deferred tax asset 328 474 312 Fixed Assets 54,612 55,071 54,960 Inventories etc. 5,374 5,517 5,028 Current receivables 7,395 6,386 5,917 Cash and cash equivalents 4,249 2,017 2,590 Total assets 71,630 68,991 68,495 EQUITY AND LIABILITIES Capital and reserves attributable to parent company shareholders 46,609 41,623 42,623 Non-controlling interests 158 140 140 Total equity 46,767 41,763 42,763 Interest-bearing long-term liabilities 12,747 11,589 11,500 Provisions 568 688 535 Deferred tax liability 763 771 750 Leasing liabilities 1,168 1,214 1,301 Long-term liabilities 15,246 14,262 14,086 Interest-bearing current liabilities 2,875 6,998 5,998 Leasing liabilities 455 419 479 Non-interest-bearing current liabilities 6,287 5,549 5,169 Short-term liabilities 9,617 12,966 11,646 Equity and liabilities 71,630 68,991 68,495
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INTERIM REPORT JANUARY – SEPTEMBER 2026 17 Consolidated changes in equity Key ratios, Group SEK m Share Capital Repurchased shares Other reserves Profit brought forward Non-controlling interests Total Opening balance 1 Jan 2025 133 -92 1,576 42,013 312 43,942 Total comprehensive income for the period -1,005 2,090 26 1,111 Non-controlling interests on acquisitions -161 -198 -359 Issued call options 10 10 Dividends to shareholders -2,941 -2,941 Closing balance 30 September 2025 133 -92 571 41,011 140 41,763 Total comprehensive income for the period -224 1,236 4 1,016 Non-controlling interests on acquisitions -12 -4 -16 Closing balance 31 December 2025 133 -92 347 42,235 140 42,763 Total comprehensive income for the period 1,415 5,823 18 7,256 Non-controlling interests on acquisitions Issued call options 9 9 Dividends to shareholders -3,261 -3,261 Closing balance 30 September 2026 133 -92 1,762 44,806 158 46,767 Attributable to the shareholders of the parent company (SEK m) 2026/09/30 2025/09/30 2025/12/31 Return on equity (%) 17 10 11 Return on total capital (%) 13 9 10 Equity ratio, incl IFRS 16 (%) 65 61 62 Equity ratio, excl IFRS 16 (%) 67 62 64 Adjusted equity ratio, incl IFRS 16 (%)¹ 80 78 79 Adjusted equity ratio, excl IFRS 16 (%)¹ 81 79 81 Adjusted equity (SEK m)¹ 96,691 96,912 99,964 Surplus value in associated companies (SEK m)² 49,924 55,149 57,201 Net debt/equity ratio 1 (%) ³ 11.8 19.1 14.8 Net debt/equity ratio 2 (%) ⁴ 7.6 12.2 9.7 Listed share price (SEK) 202 223 225 Repurchased shares 521,750 521,750 521,750 Average number of repurchased shares 521,750 521,750 521,750 Average number of employees 10,388 10,073 10,116 Issued call options corresponds to number of shares 1,803,000 2,013,500 2,013,500 ¹Incl. fair value gain in associated companies. ²The difference between the carrying amount and market value. ³The ratio of net debt to adjusted equity. ⁴The ratio of net debt to the market value of total assets.
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18 INTERIM REPORT JANUARY – SEPTEMBER 2026 Condensed income statement of the parent company Condensed statement of comprehensive income of the parent company Condensed balance sheet of the parent company Condensed statement of changes in equity of the parent company 2026 2025 2026 2025 25/26 2025 (SEK m) Q3 Q3 9 months 9 months TTM Full-year Income from interests in Group companies - - 1,790 1,500 1,790 1,500 Income from interests in associates - - 5,726 1,068 6,050 1,392 Management costs -8 -8 -23 -22 -30 -29 Profit before financial items -8 -8 7,493 2,546 7,810 2,863 Interest income and similar profit/loss items 65 119 219 398 280 459 Interest expenses and similar profit/loss items -234 -91 -415 -287 -507 -379 Profit after financial items -177 20 7,297 2,657 7,583 2,943 Taxes - - - - - - Profit/loss for the period -177 20 7,297 2,657 7,583 2,943 2026 2025 2026 2025 25/26 2025 (SEK m) Q3 Q3 9 months 9 months TTM Full-year Profit/loss for the period -177 20 7,297 2,657 7,583 2,943 Change in fair value reserve for the period - - - - - - Total other comprehensive income - - - - - - Comprehensive income for the period -177 20 7,297 2,657 7,583 2,943 (SEK m) 2026/09/30 2025/09/30 2025/12/31 ASSETS Financial assets 15,255 15,657 15,685 Long-term receivables from Group companies 8,500 8,200 8,200 Current receivables from Group companies 1,869 1,382 1,670 Other current receivables 35 42 65 Cash and bank 1,600 - - Total assets 27,259 25,281 25,620 EQUITY AND LIABILITIES Equity 15,656 11,325 11,611 Interest-bearing long-term liabilities 9,100 9,950 9,950 Non-interest-bearing long-term liabilities - - - Interest-bearing current liabilities 2,351 4,000 4,000 Non-interest-bearing current liabilities 152 6 59 Equity and liabilities 27,259 25,281 25,620 (SEK m) 2026/09/30 2025/09/30 2025/12/31 Amount at beginning of year 11,611 11,599 11,599 Total comprehensive income for the period 7,297 2,657 2,943 Issued call options 9 10 10 Exercise of call options - - - Own shares repurchase - - - Dividends to shareholders -3,261 -2,941 -2,941 Amount at end of year 15,656 11,325 11,611
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INTERIM REPORT JANUARY – SEPTEMBER 2026 19 Change in consolidated interest-bearing net debt Credit maturity structure Five-year overview SEK m 2025/12/31 Change in cash Change in loans Other changes 2026/09/30 Interest-bearing receivables 75 7 82 Swap 133 -279 -146 Cash 2,590 1,507 152 4,249 Pension provisions -280 -13 -293 Lease liabilities long-term -1,300 132 -1,168 Long-term liabilities -11,500 -1,247 -12,747 Utilised bank overdraft facilities -42 -13 -55 Lease liabilities short-term -471 16 -455 Interest-bearing current liabilities -5,956 3,238 66 -2,652 Interest-bearing net debt -16,751 1,494 1,991 81 -13,185 SEK m MTN Bank/RCF Other liabilities Additional purchase price Total % Undrawn bank facilities Overdraft facilities 55 55 0% 400 0-1 year 2,350 249 131 164 2,894 19% 3,651 1-2 year 3,850 34 94 3,978 26% 2-3 year 1,000 45 73 1,118 7% 3-4 year 2,750 7 2,757 18% 3,199 4-5 year 1,000 1,000 6% 2,668 >5 years 500 3,133 21 3,654 24% 11,450 3,382 293 331 15,456 100% 9,918 Undrawn MTN 8,550 Frame MTN 20,000 SEK m Oct-Sep 2025/2026 2025 2024 2023 2022 Net sales, SEK m 28,540 28,145 25,886 25,550 22,611 Operating profit, SEK m 4,120 3,648 3,415 3,599 3,246 Income from interest in associated companies, SEK m 4,753 3,187 3,917 3,505 1,551 Management cost, SEK m -35 -34 -33 -31 -30 Profit after financial items, SEK m 8,428 5,746 7,005 6,645 4,833 Earnings per share, SEK 11.61 7.69 9.65 9.22 6.51 Return on equity, % 17.0 11.0 15.0 15.0 12.0 Return on total capital, % 13.0 10.0 12.0 12.2 8.9 Adjusted equity ratio, % 81 81 83 83 80 Net debt/equity ratio, % 11.8 14.8 13.6 12.5 16.4 Listed share price, SEK 202 225 276 263 197
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20 INTERIM REPORT JANUARY – SEPTEMBER 2026 Note 1 Segment reporting: Development by business area 1 Jan 2026 – 30 Sept 2026 Development by business area 1 Jan 2025 – 30 Sept 2025 SEK m Bemsiq Group Caljan Hultafors Group Innovalift Latour Industries Nord-Lock Group Swegon Other Portfo-lio management Total SALES External sales 1,704 1,385 4,973 2,482 1,445 1,723 7,413 21,125 Internal sales 14 -14 - Cost of goods sold -819 -940 -2,760 -1,615 -1,004 -741 -4,761 14 -12,626 RESULT Operating profit 388 182 801 288 155 494 743 -68 2,983 Income from portfolio management 3,650 3,650 Financial income 294 Financial expenses -479 Taxes -607 Profit/loss for the period 5,841 OTHER INFORMATION Investments in: property, plant and equipment 9 18 23 39 19 11 115 - 234 intangible assets 21 193 7 609 182 0 432 1,443 Depreciation/amortisation 20 27 72 34 27 38 101 343 663 Industrial operations SEK m Bemsiq Group Caljan Hultafors Group Innovalift Latour Industries Nord-Lock Group Swegon Other Portfo-lio management Total SALES External sales 1,610 1,086 4,926 2,481 1,332 1,546 7,577 172 20,730 Internal sales 13 -13 - Cost of goods sold -781 -742 -2,845 -1,644 -929 -669 -4,842 -104 -12,556 RESULT Operating profit 349 163 639 288 120 407 806 -261 2,511 Income from portfolio management 2,085 2,085 Financial income 41 Finance expenses -871 Taxes -420 Profit/loss for the period 3,346 OTHER INFORMATION Investments in: property, plant and equipment 77 17 33 40 110 44 202 1 524 intangible assets 14 17 386 1,378 32 203 856 2,886 Depreciation/amortisation 18 29 73 27 28 44 101 314 634 Industrial operations
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INTERIM REPORT JANUARY – SEPTEMBER 2026 21 Note 2 Business combinations The acquisitions have been made with the aim of strengthening and developing the Latour Group’s existing operations. Goodwill is attributable to the earning capacity and synergies that will be created when manufacturing and sales organisations are merged with existing operations. The acquisition cost calculations are still preliminary and may change if new information becomes available. The acquisition of Dantherm involves acquiring the assets of Dantherm’s residential ventilation business. Transaction costs for acquisitions made during the period amount to SEK 17 m and were recognised as Other operating expenses in the income statement. Estimated earn- outs of SEK 100 m have been recognised. Their book values reflect an estimated probability -weighted outcome. The final outcome is based on the earnings performance of each acquired company in the coming years and may differ slightly from the book values. The acquired accounts receivable had a fair value of SEK 110 m which equalled the contractual gross amount. No material credit losses were identified at the time of acquisition. Transfer date Country Business area Share Sales EBIT No. of employees Sales EBIT 2 January 2026 Alstor AB Sweden Latour Industries 100% 153 20 36 153 20 2 January 2026 Scandinavian Sealing AB Sweden Latour Industries 100% 4 -1 3 4 -1 1 April 2026 Western Airconditioning BV Netherlands Swegon 100% 73 7 26 104 6 1 June 2026 WyCo Services LLC USA Caljan 100% 71 13 67 150 31 1 June 2026 cThings Ltd UK Bemsiq 100% 9 2 7 25 9 23 June 2026 LaminAir AG Switzerland Swegon 100% 37 12 11 98 27 23 June 2026 Del av Dantherm DK Denmark Swegon N/A 28 7 12 95 19 Consolidated carrying amount 8 25 - 53 110 22 154 -12 -106 254 834 1,087 -19 -100 968 4 -154 818 Goodwill 30/09/2026 30/09/2025 31/12/2025 Opening balance 18,827 17,624 17,624 Acquisitions 834 2,701 2,708 Disposals -10 - -92 Impairment losses -59 -76 -76 892 -1,079 -1,337 Closing balance 20,484 19,170 18,827 Exchange rates effects Acquired cash Effect of Group cash Group goodwill Total purchase price Previously regulated purchase price Cash settlement purchase price Acquisition of non-cash items Additional purchase price Net identifiable assets and liabilities Assets and liabilities in acq. companies Intangible fixed assets Property plant and equipment Financial assets Inventories Non-current liabilities Accounts receivable Other receivables Cash Current liabilities Contribution during the period Proforma 9 months
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22 INTERIM REPORT JANUARY – SEPTEMBER 2026 Note 3 Disposal of subsidiaries The Dutch company UltimAir B.V. and its subsidiary VentiDirect B.V. with 17 employees and an annual turnover of SEK 103 m was sold in March. This yielded a positive earnings impact of SEK 10 m. Other divestments have not had any material impact on the Group. SEK m Intangible assets 11 Property, plant and equipment (PPE) 6 Long-term receivables - Inventory 12 Accounts receivable / Trade receivables 13 Other receivables 2 Cash and cash equivalents 5 Provisions - Long-term liabilities - Current liabilities -18 Non-controlling interests - Profit reported in the income statement -2 Gain on sale of subsidiary 10 Consideration received 39 Change in provisions not affecting cash flow - Contingent consideration / Earn-out - Cash in disposed entity -5 Impact on the Group's cash position 34 Consolidated carrying amount
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INTERIM REPORT JANUARY – SEPTEMBER 2026 23 Note 4 Financial assets and liabilities: Disclosures Classification of financial instruments GROUP 30 Sept 2026 The basis of fair value for listed financial assets is the quoted market price at the balance sheet date. The basis of fair value for unlisted financial assets is determined using valuation techniques, such as recent transactions, the price of comparable instruments or discounted cash flows. Hedging instruments consist of forward exchange contracts and interest rate and currency swaps and are included in level 2. Valuation at fair value of forward exchange contracts is based on levels established by the bank on an active market. The fair values of accounts receivable and other receivables, other current receivables, cash and other liquid funds, accounts payable and other liabilities, and long -term liabilities are estimated as being the same as their carrying amounts. The market interest rate for the interest -bearing long -term liabilities is not expected to deviate significantly from the discount rate. The carrying amounts are therefore assumed in essence to approximate their fair values. The Group’s valuation process is carried out by the Group finance and treasury department where a team works with valuation of the financial assets and liabilities held by the Group. Fair value through comprehensive income Fair value through the income statement Amortised cost Total carrying amount 0¹ - 118³ 118 100 100 23³ 23 6,293 6,293 4,249 4,249 - 141 10,642 10,783 12,312 12,312 331³ 331 79³ 79 55 55 2,611 2,611 3,061 3,061 154² 154 154 410 18,039 18,603 Contingent consideration 30/09/2026 30/09/2025 31/12/2025 Opening balance 270 291 291 New contingent consideration 100 65 65 Payments - -4 -4 Remeasurements -52 - -49 Exchange rates effects 13 -16 -33 Closing balance 331 336 270 Long-term loans Additional purchase price Bank overdraft facilities Current loans Call option Other current receivables Cash and cash equivalents Total FINANCIAL ASSETS Listed shares, management Other long-term securities holdings Other long-term receivables FINANCIAL LIABILITIES Other current liabilities Unrealised gains, currency derivatives Total Written put/call option over non controlling interests * There have been no transfers between Level 1 and Level 2 of the fair value hierarchy during the period, nor any transfers into or out of Level 3 in respect of fair value measurements during the nine months ended 30 September 2026. ¹Level 1 – valued at fair value based on quoted prices on an active market for identical assets. ³Level 3 – valued at fair value based on inputs for assets and liabilities unobservable to the market. ²Level 2 – valued at fair value based on other observable inputs for assets and liabilities than quoted price included in level 1.
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24 INTERIM REPORT JANUARY – SEPTEMBER 2026 Note 5 Breakdown of revenues Revenue by category GROUP 30 Sept 2026 GROUP 30 Sept 2025 Bemsiq Group Caljan Hultafors Group Innovalift Latour Industries Nord-Lock Swegon Total Net sales Geographical areas: Sweden 149 3 1,015 109 522 71 1,247 3,116 Nordics, excl. Sweden 178 13 917 218 247 55 754 2,382 Germany 238 232 462 111 107 237 951 2,338 Great Britain 32 222 217 345 27 105 903 1,851 Rest of Europe 500 456 1,554 1,366 131 317 2,697 7,021 USA 261 439 716 2 301 413 553 2,685 Other markets 346 20 92 331 110 525 308 1,732 1,704 1,385 4,973 2,482 1,445 1,723 7,413 21,125 Revenue type: Revenue from goods 1,660 1,103 4,973 2,224 1,171 1,723 6,635 19,489 Revenue from services 44 282 - 258 274 0 778 1,636 1,704 1,385 4,973 2,482 1,445 1,723 7,413 21,125 Sales channels: Goods sold directly to customers 1,013 1,385 976 568 1,329 1,404 4,799 11,474 Sold through intermediaries 691 - 3,997 1,914 116 319 2,614 9,651 1,704 1,385 4,973 2,482 1,445 1,723 7,413 21,125 Time of revenue reporting: Revenue reported at a point in time 1,681 1,374 4,808 2,350 1,388 1,723 6,322 19,646 Revenue reported over time 23 11 165 132 57 - 1,091 1,479 1,704 1,385 4,973 2,482 1,445 1,723 7,413 21,125 Industrial operations Bemsiq Group Caljan Hultafors Group Innovalift Latour Industries Nord-Lock Swegon Total Net sales Geographics areas: Sweden 174 15 943 89 398 71 1,162 2,852 Nordics, excl. Sweden 170 27 896 214 284 50 846 2,487 Germany 216 223 468 113 106 234 1,220 2,580 Great Britain 26 216 220 320 28 60 947 1,817 Rest of Europe 462 249 1,561 1,383 123 270 2,722 6,770 USA 223 283 739 4 256 392 457 2,354 Other markets 339 73 99 358 138 469 223 1,699 1,610 1,086 4,926 2,481 1,333 1,546 7,577 20,559 Revenue type: Revenue from goods 1,562 824 4,926 2,283 1,034 1,546 6,797 18,972 Revenue from services 48 262 - 198 299 - 780 1,587 1,610 1,086 4,926 2,481 1,333 1,546 7,577 20,559 Sales channels: Goods sold directly to customers 969 1,086 798 553 1,320 1,260 4,719 10,705 Sold through intermediaries 641 - 4,128 1,928 13 286 2,858 9,854 1,610 1,086 4,926 2,481 1,333 1,546 7,577 20,559 Time of revenue reporting: Revenue reported at a point in time 1,610 1,086 4,732 2,346 1,264 1,546 6,598 19,182 Revenue reported over time - - 194 135 69 - 979 1,377 1,610 1,086 4,926 2,481 1,333 1,546 7,577 20,559 Industrial operations
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INTERIM REPORT JANUARY – SEPTEMBER 2026 25 Information by quarter SEK m Q3 Q2 Q1 Full-year Q4 Q3 Q2 Q1 Full-year Q4 Q3 Q2 Q1 INCOME STATEMENT Net sales 7,164 7,225 6,735 28,145 7,415 6,750 7,095 6,884 25,886 7,015 6,228 6,522 6,122 Cost of goods sold -4,223 -4,350 -4,019 -15,690 -4,410 -4,111 -4,326 -4,118 -15,690 -4,303 -3,770 -3,921 -3,697 Gross profit 2,941 2,875 2,716 11,179 3,005 2,639 2,769 2,766 10,196 2,712 2,458 2,601 2,425 Costs etc. for the operation -1,734 -1,937 -1,878 -7,531 -1,868 -1,749 -1,977 -1,937 -6,781 -1,768 -1,745 -1,669 -1,599 Operating profit 1,207 938 838 3,648 1,137 890 792 829 3,415 944 713 932 826 Total portfolio management 870 3,036 -256 3,153 1,068 526 1,020 539 3,884 726 825 1,016 1,317 Profit before financial items 2,077 3,974 582 6,801 2,205 1,416 1,812 1,368 7,299 1,670 1,538 1,948 2,143 Net financial items -53 -117 -15 -1,055 -225 -194 -214 -422 -294 20 -231 -94 11 Income after financial items 2,024 3,857 567 5,746 1,980 1,222 1,598 946 7,005 1,690 1,307 1,854 2,154 Taxes -217 -206 -184 -799 -379 -166 -120 -134 -805 -226 -222 -197 -160 Profit/loss for the period 1,807 3,651 383 4,947 1,611 1,056 1,478 812 6,200 1,464 1,085 1,657 1,994 KEY RATIOS Earnings per share, SEK 2.82 5.70 0.59 7.73 2.54 1.64 2.30 1.25 9.65 2.29 1.68 2.57 3.11 Cash flow for the period -642 1,970 179 -133 643 -107 -669 -921 618 1,055 283 -665 -55 Adjusted equity ratio, % 81 79 79 81 81 79 79 80 83 83 83 83 83 Adjusted equity 96,691 93,865 92,886 99,978 99,978 96,965 95,008 98,710 101,745 101,745 102,832 94,116 96,165 Net asset value 137,976 129,648 129,820 137,928 137,928 133,959 132,123 136,041 137,687 137,687 138,084 126,346 130,240 Net asset value per share, SEK 216 203 203 216 216 210 207 213 215 215 216 198 204 Listed share price, SEK 202 193 201 225 225 223 249 272 276 276 317 286 282 NET SALES Bemsiq Group 588 580 550 2,136 513 515 554 554 1,956 471 490 498 498 Caljan 539 466 380 1,542 455 345 450 291 1,441 356 395 374 315 Hultafors Group 1,640 1,653 1,680 6,719 1,793 1,597 1,597 1,731 6,788 1,893 1,565 1,685 1,645 Innovalift 836 864 782 3,436 955 812 867 802 2,538 696 599 643 601 Latour Industries 458 507 480 1,753 420 407 467 459 1,654 420 379 432 423 Nord-Lock Group 577 580 566 2,091 545 508 527 511 1,940 514 460 485 481 Swegon 2,531 2,580 2,302 10,272 2,695 2,506 2,588 2,483 9,335 2,610 2,283 2,338 2,104 Other companies and eliminations ¹ -5 -5 -5 196 39 60 45 53 234 54 57 67 55 7,164 7,225 6,735 28,145 7,415 6,750 7,095 6,884 25,886 7,014 6,228 6,522 6,122 OPERATING PROFIT Bemsiq Group 148 124 121 445 94 110 120 120 428 85 121 108 114 Caljan 105 42 63 278 109 46 86 35 175 36 62 48 29 Hultafors Group 304 252 250 978 301 214 205 245 1,076 333 227 267 249 Innovalift 120 98 70 420 132 109 102 77 270 83 72 62 53 Latour Industries 61 52 46 154 34 47 42 32 155 51 25 37 42 Nord-Lock Group 171 162 166 560 139 130 157 131 482 136 111 116 119 Swegon 304 269 170 1,113 307 280 282 244 1,131 266 314 300 252 1,213 999 886 3,948 1,116 936 994 884 3,717 990 932 938 858 Gain/loss from sale/purchase of business -39 -46 3 -177 40 -19 -26 -42 -212 -25 -196 18 -9 Other companies and items¹ 21 -23 -64 -169 -35 -35 -187 -23 -116 -30 -28 -29 -30 1,195 931 825 3,602 1,121 881 781 819 3,389 935 708 927 819 OPERATING MARGIN (%) Bemsiq Group 25.2 21.3 22.0 20.8 18.4 21.4 21.6 21.7 21.9 18.2 24.7 21.8 22.8 Caljan 19.3 9.1 16.5 18.0 23.9 13.3 19.0 12.7 12.1 10.0 15.7 12.8 9.3 Hultafors Group 18.6 15.2 14.9 14.6 16.8 13.4 12.9 14.9 15.9 17.6 14.5 15.8 15.1 Innovalift 14.3 11.4 9.0 12.2 13.8 13.4 11.7 9.6 10.6 11.9 12.1 9.6 8.8 Latour Industries 13.3 10.3 9.6 8.8 8.1 11.4 9.0 7.0 9.4 12.1 6.7 8.6 9.9 Nord-Lock Group 29.7 28.0 29.4 26.8 25.5 25.5 29.8 26.3 24.9 26.5 24.1 24.0 24.8 Swegon 12.0 10.4 7.4 10.8 11.4 11.2 10.9 9.8 12.1 10.2 13.7 12.8 12.0 16.9 13.8 13.2 14.0 15.0 13.9 14.1 13.1 14.3 14.1 14.9 14.4 14.0 ¹ Includes, among other items, divested businesses within Latour Industries 202420252026
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26 INTERIM REPORT JANUARY – SEPTEMBER 2026 Definitions of key ratios EBITDA Earnings before interest, taxes, depreciation of property, plant and equipment and amortisation of acquisition-related intangible assets, acquisition-related costs and income, and items impacting comparability. EBITA Earnings before interest, taxes and amortisation of acquisition-related intangible assets, acquisition-related costs and income, and items impacting comparability. EBITA % EBITA in relation to net sales. EBIT Earnings before financial items and taxes. EBIT % EBIT in relation to net sales. Adjusted EBIT EBIT before acquisition-related depreciation and impairment, excluding acquisition and restructuring costs. Adjusted EBIT % Adjusted EBIT in relation to net sales. Operating capital Total assets less cash and cash equivalents, other interest- bearing assets and non-interest-bearing liabilities. Calculated on the average for the past 12 months. Organic growth Change in sales revenue in comparable entities during the period, after adjustment for acquisitions, disposals and exchange rate effects. Currency-driven growth Change in sales revenue during the period attributable to foreign exchange effects in comparable entities, after adjustment for acquisitions and disposals. Growth through acquisitions/disposals Change in sales revenue (pro forma) during the period attributable to completed acquisitions and disposals adjusted for exchange rate effects. Basic earnings per share Profit or loss for the period attributable to parent company shareholders divided by the average number of shares outstanding. Diluted earnings per share Profit or loss for the period attributable to parent company shareholders divided by the average number of shares outstanding with additions for the average number of options, calculated in compliance with the requirements of IAS 33. Equity ratio The ratio of shareholder equity to total assets. Adjusted equity ratio The ratio of shareholder equity (including the share of surplus values in associated companies) to total assets (including those surplus values). Net debt Interest-bearing liabilities less cash and cash equivalents and interest-bearing receivables. Net debt/equity ratio The ratio of net debt to either adjusted equity or the market value of total assets. Return on equity The ratio of net income booked in the income statement to average equity. Return on total capital The ratio of profit/loss after financial items plus finance expense to average total assets. Return on operating capital The ratio of operating profit to average operating capital. Dividend yield Dividends as a percentage of the share price. EBIT multiple Enterprise value (EV) relative to operating profit. Net asset value The difference between the Group’s assets and liabilities, when the investment portfolio (incl. associated companies) is recognised at market value and operative subsidiaries that are owned at the end of the period are recognised in an interval based on EBIT multiples for comparable listed companies in each business area. Share of voting rights Share of voting rights is calculated after deduction for repurchased shares. Share of equity Share of equity is calculated on total number of issued shares. Other The amounts in tables and other charts have each been rounded off. There may therefore be minor differences in the totals due to rounding-off.
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For further information, please contact: Johan Hjertonsson, President and CEO, tel. +46 (0)702-29 77 93. Mikael J. Albrektsson, Chief Financial Officer, tel. +46 (0)733-23 36 06, or +46 (0)31-89 17 90. Presentation of performance for the quarter: President and CEO Johan Hjertonsson will present the report together with CFO Mikael J. Albrektsson today at 10.00 a.m. The presentation will be streamed online. To watch the presentation and have the opportunity to ask questions, please visit our website www.latour.se. Financial dates: The 2026 Year-End Report will be published on 9 February 2027 The interim report for January – March 2027 will be published on 29 April 2027 The Annual General Meeting will be held on 13 May 2027 The interim report for January – June 2027 will be published on 25 August 2027 The interim report for January – September 2027 will be published on 9 November 2027 The 2027 Year-End Report will be published in February 2028 The information contained in this report constitutes information which Investment AB Latour (publ) is required to disclose under the EU Market Abuse Regulation. The information was provided by the above contact persons for publication on 3 November 2026 at 8.30 CET. Investment AB Latour (publ) Corporate ID no. 556026-3237 J A Wettergrens gata 7, Box 336, SE-401 25 Gothenburg, Sweden Tel +46 31 89 17 90 info@latour.se, www.latour.se