Momentum Group (MMGR) investor relations material

Executive summary

• Revenue grew 8% year-over-year in Q2 2026 to SEK 886 million, with organic growth mainly from Sweden and strong acquisition contributions; six acquisitions completed YTD added SEK 230 million in annual revenue.

• EBITA increased 23% to SEK 113 million, with improved margins and earnings in both business areas.

• Organic growth improved in Q2 compared to Q1, driven by increased customer optimism and higher activity levels.

• The business climate in the Nordic region improved slightly, with service operations benefiting from delayed maintenance work and project-based sales facing cautious customer demand.

• Market environment became more positive, with Sweden leading, Norway stable, Finland steady after adjusting for prior large projects, and Denmark lagging due to weak project sales.

Financial highlights

• Q2 2026 EBITA up 23% to SEK 113 million (margin 12.8%), operating profit up 24% to SEK 97 million (margin 10.9%), and net profit at SEK 70 million.

• For January–June 2026, revenue rose 4% to SEK 1,622 million, EBITA up 9% to SEK 183 million, and net profit at SEK 108 million.

• Service revenues and capacity utilization rebounded, aided by postponed maintenance from Q1.

• Service revenues grew due to strong capacity utilization, though some workshop-oriented businesses saw subdued demand.

• Operating cash flow remained strong, with SEK 108 million in Q2 and SEK 165 million for Jan–Jun.

Outlook and guidance

• Focus on organic development, margin improvement, and efficiency, with a target of at least 15% annual earnings growth over a business cycle.

• Ambition to maintain high service utilization in Q3, addressing backlog and planned stops.

• Project activity, especially in Denmark, remains subdued but is expected to recover as customer confidence improves.

• Continued geographic expansion in the Nordics and selective moves beyond, targeting EBITA of SEK 680 million by end of 2030.

• Focus remains on earnings growth, strong cash flow, and balance sheet control to enable further value-adding acquisitions and investments.