Slides
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Lindab Group Q3 report 2026 23 October 2026 Ola Ringdahl President & CEO Lars Ynner CFO
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Q3 highlights • Organic growth in both business areas, driven by the Nordic region. • Inflation put pressure on operating margin, but improvement compared to Q2. • Ongoing p rice adjustments to mitigate higher costs for transportation and input materials. • Acquisition of Irish ventilation distributor and Italian smoke control company. 2 Sales (SEK m) Organic growth Acquired growth* Currency effect Adj. operating profit (SEK m) Adj. operating margin Cash flow, op. activities (SEK m) 3,237 +2 % - 2% 0 % 283 8 .7% 235 3,253 - 4% +3% - 2% 315 9 .7 % 335 Q3/26 Q3/25 *Net effect for Q3/26 including divestment of R omania and Profile Systems in Hungary. Lindab Group
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0 500 1 000 1 500 2 000 2 500 3 000 3 500 4 000 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 0 500 1 000 1 500 2 000 2 500 3 000 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 0 500 1 000 1 500 2 000 2 500 3 000 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Stronger sales in comparable units for both business areas Sales per quarter, SEK m Lindab Group Ventilation Systems Profile Systems Sales, SEK m SEK m SEK m SEK m Sales, SEK m Lindab Group Ventilation Systems Profile Systems 3,237 2,608 629 3, 253 2,581 672 +2% +1 % +4 % - 2 % 0% - 11% 0 % 0% +1 % Organic growth Acquired growth Currency effects Q3, 2026 Q3, 2025
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Profit recovery after weak Q2 Adj. EBIT per quarter 0% 2% 4% 6% 8% 10% 12% 14% 16% 0 50 100 150 200 250 300 350 400 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 -3% 0% 3% 6% 9% 12% 15% 18% -50 0 50 100 150 200 250 300 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Lindab Group Ventilation Systems Profile Systems Adj. EBIT, SEK m Adj. EBIT R12 months, % SEK m SEK m SEK m % % % 0% 3% 6% 9% 12% 15% 18% 0 50 100 150 200 250 300 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Adj. EBIT, SEK m Q3, 2026 Q3, 2025 Lindab Group 283 8.7% 315 9.7% Ventilation Systems 258 9.9% 274 10.6% Profile Systems 39 6.2% 47 7.0%
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Stable net debt development 5 Quarterly cash flow from operating activities Net debt *Financial net debt: Net debt excluding leasing liabilities and pension related posts. *Financial net debt/EBITDA excluding IFRS 16 : Average financial net debt in relation to EBITDA, excluding IFRS 16 and exclud ing leasing liabilities and pension related posts. MSEK MSEK MSEK 400 600 800 1 000 1 200 1 400 1 600 1 800 2 000 0 100 200 300 400 500 600 700 800 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 0 1 000 2 000 3 000 4 000 5 000 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Quarter R12 M • Cash flow from operating activities amounted to SEK 235 m (335). • Net debt amounted to SEK 4,459 m (4,411), of which SEK 1,375 m (1,438) is related to leasing liabilities. • Net debt/EBITDA amounted to 2.8 (2.7). Financial net debt/EBITDA amounted to 2.4 (2. 1 )*.
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Focus on profitable growth 6
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Cost and price adjustments to strengthen profitability 7 • Cost increases of 5 - 15% on transportation and key input materials due to geopolitical disturbances. • To mitigate higher costs, price adjustments have been implemented and the gross margin has improved. • Actions to further improve the operating margin: – Continued price adjustments. – Efficiency improvements to reduce the cost base.
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Gradual improvements in Profile Systems 8 • Organic growth +4% and continued improved sales trend. • Cost savings, reorganisation, a clear focus on Scandinavia, and improved market conditions. • Project sales have started to increase from low levels. • Production capacity for sandwich panels has returned to the levels seen before the factory relocation.
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Acquisition of Irish ventilation distributor and Italian smoke control company 9 • Acquisition of Irish ventilation distributor Connaught Ventilation Supplies (CVS) – Based in Galway. – Turnover approximately 2 MEUR. – Completed in July. • Acquisition of Italian smoke control company Aernova – Based in Fermo. – Turnover approximately 7 MEUR. – Completed in October.
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Good prospects for growth 10 • Increased focus on energy efficiency. • Solid growth for room ventilation and fire safety, and a stronger focus on sales to specifiers. • Growing deliveries to data centres and defence - related projects. • Capacity for bolt - on acquisitions with a continued commitment to financial discipline. Image from a recent campaign within the fire safety segment.
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Outlook: Gradual market recovery • Improving market conditions in the Nordics. • Continued weak outlook for Germany. • Modest growth in the underlying markets for both business areas expected in 2027. 11 - 2,7 1,7 2,1 2,1 -6 -4 -2 0 2 4 6 Real growth (%) 2.6 2022 - 2.3 2023 2024 -0.7 2025 2026 2027 2028 Non-residential Residential Total buildings (non-res + res) Forecast: European construction market Source: Euroconstruct (Jun-26)
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For a better climate. 12