Soltech Energy Sweden (publ) interim report for the period April-June 2026

COMMENTS FROM THE CEO

The second quarter was, like the first, characterized by intensive change and restructuring work within the Soltech Group. During the quarter, the work has clearly and purposefully focused on improving cash flow, strengthening profitability and establishing a long-term stable platform for future growth. As a result of the measures taken, we are now seeing profitability improvements in the underlying business, not least in roofing, electrical engineering and façade. We also see that the Group’s net sales increased by 28 percent in the quarter compared with the corresponding quarter last year, which is positive. However, restructuring costs at Group level had a negative impact on earnings in the quarter.

While it is gratifying to see that the strategic measures are gradually starting to yield results, the work continues at an unchanged pace. During the quarter, we implemented profitability-driving measures, cost savings and organisational changes. Great emphasis has also been placed on carefully selecting which projects we take on to ensure that we get the right business with the right profitability.

Nordic expansion, façade contracts and framework agreements
During the quarter, Soltech’s companies both won strategically important projects and nurtured long-term customer relationships. One large new project in the façade business area is Essa Glas & Aluminium’s façade project for Zengun and the real estate company Wallenstam. Sergelskrapan in central Stockholm is to be renovated and Essa has been commissioned to design, manufacture and install a bronze shimmering aluminium façade totalling 5,240 sqm that will shape the property’s exterior. A project that is a feather in our cap and we are proud to be able to contribute to shaping this historical building and the cityscape around Sergels torg.

Soltech Energy Solutions’ Nordic expansion has also continued in the second quarter through several major agreements. Among other things, through the operation and maintenance agreement in Denmark, where the company is now responsible for the ongoing operation, optimization and technical monitoring of two battery parks of as much as 132 MWh for Copenhagen Energy. Soltech has also entered the Finnish and Norwegian markets by signing agreements for the design and construction of several major battery parks.

In the Ceiling and Electrical Engineering business area, several major framework agreements were signed during the quarter. Among other things, Soltech will help Svenska Bostäder with the expansion of charging infrastructure and the roofing company NP Gruppen will in turn assist the real estate company SISAB with extensive roofing contracts and roof maintenance for several years to come. The fact that the Soltech Group’s various business areas continue to sign long-term framework agreements testifies to a great deal of confidence in the companies’ long-term perspective, quality and delivery capacity.

The work continues at an unchanged pace
Despite the fact that a lot of work remains to be done, I look upon the future with confidence. We are fully focused on continuing to create stability, strengthen the Group’s financial position, improve profitability and establish a long-term stable platform for future growth.

Leif Göransson
Interim CEO
Soltech Energy

QUARTER 2: 1 APRIL – 30 JUNE

• Net sales amounted to SEK 435.6 (340.7) million. The Group’s growth amounted to 28% (-36%).
• EBITDA amounted to SEK -24.8 (-18.7) million. EBITDA margin amounted to -5.7% (-5.5%).
• EBITDA was negatively impacted during the quarter by restructuring at Group level and the exercise of a previous incentive program of SEK 20.0 million. Adjusted for these items, EBITDA amounts to SEK -4.8 million.
• EBITA amounted to SEK -35.8 (-32.6) million. EBITA margin amounted to -8.2% (-9.6%).
• Profit after tax for the period amounted to SEK -45.0 (-43.8) million.
• Cash flow for the period amounted to SEK -33.3 (-5.3) million.
• Earnings per share before and after dilution amounted to SEK -0.03 (-0.43)

INTERIM PERIOD: 1 JANUARY – 30 JUNE

• Net sales amounted to SEK 757.2 (738.1) million. The Group’s growth amounted to 3% (-23%).
• EBITDA amounted to SEK -60.7 (-20.2) million. EBITDA margin amounted to -8.0% (-2.7%).
• EBITDA was negatively impacted during the period by restructuring at Group level and the exercise of a previous incentive program of SEK 20.0 million. Adjusted for these items, EBITDA amounts to SEK -40.7 million.
• EBITA amounted to SEK -84.3 (-48.2) million. EBITA margin amounted to -11.1% (-6.5%).
• Profit after tax for the period amounted to SEK -111.8 (-79.9) million.
• Cash flow for the period amounted to SEK -163.6 (-117.0) million.
• Earnings per share before and after dilution amounted to SEK -0.03 (-0.43).

Significant events during the quarter

• Soltech Energy Solutions enters the Finnish market by signing its first battery business in the country, a project with an order value of approximately SEK 125 million. The deal includes the design and construction of a larger battery park with associated installation of transformers, medium-voltage switchgear and then commissioning. Construction will start in the spring with planned commissioning in 2027.

• NP Gruppen signs a new framework agreement with the municipal property company SISAB (Skolfastigheter i Stockholm AB). The framework agreement runs for four years and covers roof contracts, roof service and ongoing roof maintenance at SISAB’s preschools, primary schools and upper secondary schools in the City of Stockholm and has an estimated value of approximately SEK 60–80 million.
• The Board of Directors of Soltech Energy Sweden AB appoints Leif Göransson as interim CEO and Pontus Andersson as interim CFO. The appointments are part of a crucial effort to build a platform for long-term profitable growth.

• Essa Glas & Aluminium has been commissioned by Zengun to design and construct a prefabricated façade for the property company Wallenstam’s property Sergelskrapan (Hötorgshus 5) in central Stockholm. The assignment includes an aluminium façade totalling 5,240 sqm, glass sections and sun protection. It is particularly important in the project that the façade meets the high demands for architectural design, colour, sustainability and energy efficiency. The project will start in the spring of 2026 and is expected to be completed in 2027.

Significant events after the quarter

• The company has announced an upcoming rights issue of SEK 99 million, which is fully guaranteed by Nordic Capital and subject to approval by the Extraordinary General Meeting. Provided that the rights issue is completed, the company’s principal creditors have agreed to certain liquidity enhancements and extension of existing credits until the end of December 2028.

The quarterly report and other financial reports are available at: https://soltechenergy.com/investerare/finansiella-rapporter-kalender/