Addnode Group AB (publ)

Welcome to this report presentation for the second quarter 2026. We will guide you through the quarter. With me, I have Christina Astor McIntosh, CFO of Admiral Group. Myself is the CEO of Admiral Group, Johan Andersson. We will the agenda for today. is that we will talk about Adnode Group, our divisions, the cash flow and balance sheet. And we will end with a Q&A where you can ask your questions to me and Kristina. And you will also find an appendix in this presentation. So we start by describing the quarter. During the quarter, our business continued to develop steadily and we have executed cost savings. So what are the key highlights in Q2 2026? Adjusted organic growth was minus 5%. Reported growth and earnings of design management were affected by the renewal cycle of three-year Autodesk contracts. As expected, this affects comparability between periods, but does not impact the underlying stable development of the business. The underlying organic growth for design management was flat in the quarter, as Kristina will explain later more in detail. Acquisitions made in 2025 in Brazil, Canada and Norway continue to perform well. Process Management Division continues to improve. EBITDA is up 26% and EBITDA margin has now improved eight consecutive quarters. The Product Lifecycle Management Division continues to deliver improved profitability and EBITDA was up 24%. Cash flow from operating activities improved to 62 million, primarily driven by positive development in design management. To increase focus on new sales and fully realize synergies from our expansion, we have done an efficiency program that is expected to reduce annual costs by approximately 100 million. Excluding cost for the efficiency program mentioned and early renewals in the comparative period, EBITDA amounted to 176 million this period compared to 168 million last period. I will come back to more details on the performance of each division and Kristina will give you more details on cash flow and balance sheet.

Thank you, Johan. I'm going to take you through the net sales development from Q2 last year to Q2 this year. And net sales amounted to 1 billion 449 million in Q2 2026. And that compares to 1 billion 457 last year. And the organic growth, as we just heard from Johan, amounted to minus 11%. And the decrease was mainly related to division design management. And I will come back into more details regarding the organic growth in design management. Also important to see here on the graph is that early renewals of 80 million SEK is included in this graph. Contribution from acquisitions amounted to 158 million SEK and the integrations is performing well and the acquired businesses are delivering in line with our expectations. and currency effects in this quarter amounts to minus seven million SEK and that's mainly related to US dollar and also lies within the design division where the majority of the USD denominated business resides. So I will now hand back to Johan for net sales by category.

Why do I believe that Adnode Group has a solid business and a strong position to grow? Adnode Group provides mission critical digital solutions with high customer retention. We are positioned in a market where digitalization, AI, and increasing demands for efficiency are driving demand among our 40,000 customers. We have longstanding customer relationships, deep domain expertise, and a high level of trust from our customers. Let me remind you that the majority of our net sales is own software and services representing the value we bring to our customers. 62% of our net sales last 12 months was from recurring revenue. We have significant opportunities to deepen our engagement with existing customers and gradually increase the share of recurring revenue. We are already seeing how AI creates value, both internally and in the solutions we deliver. and our partners are also investing substantially in AI capabilities. I would like to highlight two customer examples. They illustrate how we support customers in their digital and AI transformations. The first example comes from Symmetry and how they support the hospital of the University of Pennsylvania. The hospital was looking for better ways to handle compliance and ensure quicker patient call response times. And how did we do that? We did that by upgrading the system IBM Maximo and developing an AI driven portal with a customized chatbot. This made operational information more accessible and actionable. And it's a good example of how we help customers use AI in a practical way. The second example comes from Technia. We supported ROSENEXT to connecting its PLM and RP systems with our own technology. ROSENEXT is a developer of robotics, sensors, and physical AI. The integration improved data sharing and standardized product structures. It also created a scalable platform for future growth, enabling cloud-based upgrades. Both of these examples reflect a broader trend across our businesses. Customers continue to invest in solutions that improve efficiency, increase transparency and support long term growth. ADNO's strong customer relationships, our deep domain expertise and the data embedded in our solutions position us well to develop and deliver new AI enabled services. Look into our broader sharehold base. Two things that I would like to highlight. One thing is that we can see that the number of shareholders has increased during the quarter. We have moved from roughly 8,000 to 10,000. We also have had a change in our top 10 shareholders. As we can see, if you compare the graphs is that Robur is now no longer part of our top 10 shareholders as they have sold the majority of their shares during the period. So going through our three divisions, design management, product lifecycle management and process management. As you can see in this graph our free division is that the biggest contributor this quarter is process management. So division design management. Symmetry is the biggest company in the division. It is the world's largest Autodesk partner and the leading global provider of design and asset management solutions. We are serving more than 30,000 customers across Europe, Latin America, and North America. What are the key highlights in Q2? Net sales decreased by 11% to 560 million compared to 627 million. Saves of partner software were affected by the timing of Autodesk contract renewals and also by the new incentive model. Our own software and services continue to generate positive organic growth, plus 7% in the quarter. The big acquisition of Autodesk partners in Brazil and Canada continue to perform well. What are we focusing on now? Symmetry has had a strong and rapidly growth since 2021. It is now time to set the foundation for the next step in our growth journey. We are deploying a new organization in Europe and US with even more focus on new sales. We are realizing operational synergies of 100 million in a cost reduction program. To make these synergies happen, we have one-off costs in the quarter of 28 million. no additional costs related to the program are expected. The cost savings will have effect from Q3 2026 and we will have a full run rate effect in 2027. I would now like to hand over to our CFO, Kristina.