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We create better air. Every day. Worldwide. 2026/27 Q1 report Robert Larsson and Anders Ulff
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Agenda 01 02 03 04 05 Systemair in brief First quarter summary Q1 Financials Projects and product launches Q&A Systemair Q1 | 2026/27 2
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Systemair in brief 51 Number of countries with own sales companies 19 Countries 27 Own prod. facilities, total book value of SEK 1.3 bn. 7,600 Number of employees 135 Countries exported to 1974 Established in Skinnskatteberg, Sweden, today HQ ~1,300 Net sales R12 in MEUR 2007 NASDAQ OMX Nordic Exchange Operating from the core values of simplicity and reliability, our business concept is to develop, manufacture and market energy - efficient, high - quality ventilation products. With our customers in focus, we are determined to meet their expectations on delivery reliability, availability, sustainability and quality. Systemair Q1 | 2026/27 3
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Events & Updates Product Updates Strategic update Q1 → Launch of Geniox air handling unit with integrated heat pump → Acquisition of Temspec , Inc. a Canadian manufacturer of decentralized HVAC equipment for multi - storey buildings and school applications → 5.4 MEUR Data centre order in Finland → Strengthening c onnections in West Africa by participating at H VAC - R Abidjan in Côte d’Ivoire • Organic growth of 6 % • Strong development in North America and Eastern Europe • Strengthened EBIT margin, 10% target well within reach Systemair Q1 | 2026/27
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Markets We have a global and diversified customer base. This provides us with a solid foundation for profitable growth and high resilience. ⬤ ⬤ ⬤ ⬤ ⬤ 15% 44% 13% 13% 15% Nordics (14) Western Europe (46) Eastern Europe & the CIS (13) North America (12) Other markets (15) Systemair Q1 | 2025/26 5 15% 44% 13% 13% 15%
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Net sales 6 3111 3094 3281 Q1 2024/25 Q1 2025/26 Q1 2026/27 -5 0 5 10 15 20 25 Q1 21/22 Q1 22/23 Q1 23/24 Q1 24/25 Q1 25/26 Q1 26/27 Organic quarterly growth Organic growth R12 +6 % Organic Growth +6 % Growth Systemair Q1 | 2026/27
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Systemair Q1 | 2026/27 Growth analyze Q1 Organic • Organic growth in all regions Acquisitions • Effect from the acquisitions of Nadi in India during the quarter Currency • Main effects from strengthened SEK against TRY, CAD and INR Organic Aquisitions Currency 0 1 2 3 4 5 6 7 8 +6% +1% - 1% Total growth +6%
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Geographic breakdown Q1 8 Nordic region • Sales in all markets within the region showed good development during the quarter, with SE at the forefront. Western Europe • IT, GR and IE, among others, showed good growth during the quarter. Eastern Europe & CIS • Sales development was particularly good in the Czech Republic, Poland, Azerbaijan and Serbia during the quarter. North America • The acquisition of Temspec had no impact on the quarter's sales. Sales increased during the quarter in both the US and CA markets. Middle East, Asia, Australia and Africa • In NZ, AU and MY, growth was good during the period, while it was negative in TR. 2026/27 May – Jul 3 mths Change in sales of which Organic Nordic region 480 10% 8% Western Europe 1,455 3% 3% Eastern Europe & CIS 437 12% 11% North America 432 14% 15% Middle East, Asia, Australia and Africa 477 2% 4% Total 3,281 6% 6% Systemair Q1 | 2026/27
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Adjusted operating profit Q1 9 • The gross margin amounted to 36.5 percent (36.4). • The operating profit for the first quarter amounted to SEK 311 million (268). The operating margin amounted to 9.5 percent (8.7). The operating profit includes one - off items of SEK - 13. • Adjusted operating profit amounted to SEK 324 million. The adjusted operating margin amounted to 9.9 percent (9.3). • Selling and administrative expenses in comparable units have increased by SEK 44 million or 5 percent. 305 288 324 2024/25 2025/26 2026/27 9.9% 9.3% 9.8% Systemair Q1 | 2026/27
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Profit after tax Q1 • Net financial items for the first quarter amounted to SEK - 5 million ( - 3). • Currency effects on long term receivables, loans and bank balances amounted to a net of SEK +7 million (+12). • Interest expenses for the quarter amounted to SEK - 9 million ( - 12). • The tax rate amounted to 25.2 percent. 10 210 193 229 2024/25 2025/26 2026/27 Systemair Q1 | 2026/27
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Cash flow analysis Q1 • Changes in working capital mainly due to increased inventories +113 (+65) and trade receivables +173 (+123). • Net investments primarily in Sweden, Spain and Italy. • Adjusted leverage was 0.65 (0.52) 11 Q1 2026/27 Q1 2025/26 Cash flow from operating activities 345 310 Change in working capital - 162 - 92 Net investments, excl acqusitions - 114 - 110 Free cash flow 69 108 Net debt 1,101 831 Systemair Q1 | 2026/27 658 -400 -200 0 200 400 600 800 1 000 1 200 Q4 21/22 Q4 22/23 Q4 23/24 Q4 24/25 Q4 25/26 Free Cashflow R12
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12 Systemair Q1 | 2026/27 Positive Momentum in Renewable Energy and Work - place Safety Sustainability highlights Prioritised targets Target - 11 % Scope 1 & 2 emissions - 42 % (2030/31) - 6 % Work - related injuries with sickness absence - 50 % (2030/31) 23.2 % Female leaders 25 % • Record first quarter for solar power generation, with our installed capacity producing 1.4 million kWh of renewable electricity. • Improved safety performance, with LTIFR reduced to 6.7. Further reduction remains a high priority. • Following a successful launch, our mentorship programme for future female leaders will continue with a second edition in 2026/27.
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Temspec Acquisition Strengthens North American Growth Platform • In July 2026, acquired Canadian Temspec Inc., founded in 1971. • Leading manufacturer of decentralized ventilation solutions for multi - family residential buildings and schools. • Strong focus on energy efficiency and low - noise performance. • Annual sales of approximately SEK 200 million with EBIT margin above Systemair Group average . • Approximately 90 employees and a strong entrepreneurial, customer - focused culture aligned with Systemair's values. • Will be integrated into Systemair's North American operations • Consolidated, a market leader within school ventilation in North America. 13 Systemair Q1 | 2026/27
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Geniox – Air Handling Unit with Integrated heat pump 14 Future - proof design - F - gas compliant (Max 150 GWP) - PFAS - free (REACH regulation) - Natural refrigerant R290 - GWP 0.02/Low CO2 impact Cost efficient - Up to 40% lower operating costs - Up to 60% lower energy use Systemair Q1 | 2026/27
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Systemair Q1 | 2026/27 15 CEER – Saudi Arabia’s First Electric Vehicle Manufacturing and Automotive Industrialization Project • CEER will design, manufacture, and sell a range of electric vehicles for consumers in Saudi Arabia and the MENA region. • Production capacity of more than 240,000 vehicles/year. • Vehicles will be tested to the highest global quality control and safety standards. • Lead the way in infotainment, connectivity, and autonomous driving technologies. • Systemair has delivered locally produced products to an order value of around 300,000 Euros.
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D ata centre cooling order worth SEK 60 million • The order comprises Geniox Tera Fanwall units to a new data centre in Finland. • Production will take place in our Turkish facility. • Deliveries are scheduled to commence at the beginning of 2027. 16 Systemair Q1 | 2026/27
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Q&A Systemair Q1 | 2026/27 17
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Thank you! We create better air. Every day. Worldwide. 18