ByggPartner Gruppen AB (publ)

Välkomna till Big Partner Gruppens presentation av Q1 2026. Med oss idag har vi vd Sture Nilsson. Under första delen av mötet är deltagarna i lyssnarläge och därefter kommer det finnas tid att ställa frågor till talarna. Under frågestunden kan deltagarna ställa frågor genom att trycka fyrkant 5 på sin telefon eller använda rutan under presentationen på webbsändningen. I now hand over the floor to the CEO, Sture Nilsson. Welcome.

Thank you. This time I will present our first report for 2026. I hope you will listen through it. Let's start. I want to start with, as I always say, a little bit short about Byggpartegruppen. We recognize it. There have been no changes since the last time. Men byggpartegruppen består ju av, vi är ju en renodlad byggentreprenör som idag har tre större bolag och även några mindre bolag som framförallt driver en stark lokalt förankrad verksamhet runt om i landet. Det här entreprenörskapet, den här personliga närvaro är grunden i vårt sätt att vilja jobba. Vi har tre större bolag som sagt. Vi är etablerade i Mellansverige med ett byggpartner. Dalarna är den absolut största basen för oss idag. Det är det största bolaget. Vi finns i Östergötland där vi är det ledande byggbolaget i Östergötland genom Olin Ekeroth. De har fem kontor runt om i länet. Sen har vi närvaro efter hela västkusten genom Flodéns byggpartner. Our project, our segment that we work within, for a long time now, is our largest segment, social housing. I will show you projects that we naturally work with in that segment. During the last year and even now, the industry part has increased as a segment in our business. Industry, local offices are almost as big a part of our order stock and our turnover as social housing today. Under senare år har vi haft en mycket låg andel av bostäder. Den är under 10 procent av vår omsättning idag. Bland våra fokusområden vill vi gärna fortsätta att lyfta fram att vårt sätt att jobba, det hörs ju på namnet också, vi vill gärna jobba i samarbete med våra kunder i nära samverkan. Det innebär att drygt 50 procent av vår omsättning präglas också av en avtalsform som är samverkansformen. where we, together with our customers, develop the conditions for a project and work in early open collaboration. Sustainability has many perspectives that we work with, but perhaps tree building is our biggest individual contribution to sustainable development. And there we work on the tree side with a set of core competencies within our own company, Daluvisgruppen. A little bit about the base that we stand for today. If we then come to the first quarter, I would like to say that I am incredibly pleased with how we have started the year. We continue a positive trend as we showed last year and it is fantastically fun to be able to say that with the business conditions that exist today in the world, it is not obvious how the journey looks in the company. But we have, as I said, a really positive quarter. I will get into the details of the figures later, but I would still like to say initially that when it comes to order entry, we still have a quarter with really high order entry in the company. We have a stock of orders that is the highest so far in the company. And in addition to the stock of orders, we have, as we often say, we have previously initiated cooperation in what we call phase 1. design together with customers. And even if it's not in the order stack yet, there is a potential in the base that is as big as our order stack, about 5 billion. Our turnover, since we have a high order stack today, we see that turnover is starting to increase strongly in the company. Approximately 20% increased turnover compared to last year's quarter. Resultatet är faktiskt på det högsta hittills i vårt bolag. Ebitda som vi följer är då på 56 miljoner. Och då är vi också väldigt glada att lönsamhetsmarginalen som vi följer, den har också ökat under kvartalet kraftigt. The last thing I want to highlight in this overview is that the cash flow is unusually strong in the quarter. So we have a cash flow of 80 million already in the quarter. So as I said, a positive signal in most areas before I go into the details. I'm going to show you some of the current projects that are new in the quarter. Some examples. We have a big mission to build a new school in the north for about 500 students. I can just mention that, speaking of schools in the north, an hour from there, in Arboga, we are just about to finish a new large school for about 900 people. Men Norra skolan är ett nytt spännande uppdrag som vi har fått. Parallellt med det så är vi också glada att starta upp bygget av nya Vätterskolan i Motala. Det är också en stor skola med cirka 400 elever. Två stora skolor med ett samlat värde av 500 miljoner representerar de här två skolorna. When it comes to Mottala, we have several projects in Mottala that we are currently running. And I can mention that just recently we have participated in the construction of a completely new office that we have built for the municipal housing foundation in Mottala. So that says a little bit about the local progress that we are very happy to have. And that also applies to a city like Mottala. When we talk about schools, I also want to show a project that we have been working on for a long time. Now we are starting in Halmstad, in Vallåskolan, to build over the ground. This school is planned for over 900 students. It is going according to plan, we have done the foundation and now we are starting to build the school up. So as I said, when we talk about schools, it is an important aspect when we talk about social housing, our schools, which we will get back to. And that is one of our core competencies in the company. After the end of the period, and it was actually the first of April, we were happy to have signed a new phase 2 agreement, that is, an entrepreneurial agreement. for over SEK 500 million, where we, in a very exciting collaboration with Vattenfall, are building a new multi-function building in Forsmark. It is a collaboration project that we have been working on up to now. We are really looking forward to this collaboration with Vattenfall. It will be registered in Q2, but I think it is really fun to tell that, in addition to these strong figures in the quarter, redan nu på banan ytterligare. Exempel på fortsatta pågående samverkansprojekt under de stycken, där kan vi nämna då att den stora multisporthallen som ni ser här till vänster i Linköping, det är fortfarande ett fas ett skede, det vill säga det är ingen entreprenad order ännu även om vi närmar oss den fasen. Så att vi har hållit på att avsluta projektering i projektet och kommer inom kort som vi räknar med att skriva entreprenadavtal. Sen är det naturligt att jag gärna vill slå ett slag för våra träprojekt där vi bygger med trästommar. Det är ju ett växande inslag i vår produktion att vi bygger mycket med trä. Det är alltid roligt att berätta om det och visa upp att det är en, vi tycker att det är en spetskompetens som vi har inom konserven. Then I thought I would go back to the numbers again. And if I want to start with the order entry, we have a strong quarter. You can see on the stack here that we have 1.8 billion in order entry in the quarter. And that is one of the strongest order entries we have had. We often talk about the fact that it fluctuates a lot between quarters. But you can see on these stacks that the order entry stacks of the last year are significantly higher than before. So here we are, and you saw several examples of projects that we have taken that are included in this order block. In addition, in addition to these schools, we can also say that we have several additional orders that have occurred in the ongoing data halls in Borlänge that contribute to this order block, the order entry. The order block that is a result of this is the highest so far, 4.9 billion, and as I said, In addition, we have the base, the Phase 1 project, which we are still working on in the design phase, and that base is, as I said, as big as 5 billion in potential. So we are happy that we have such a good relationship in the company. We are also very pleased with the opportunity to make money on these projects. We have good potential for solution in the project. As you can see the distribution in the order block, we have a fairly even now that social housing stands for 48% and the growing commercial housing where the industrial part is the growing in this stands for 44% and it has grown successively in the last year. And as I said, housing is a very marginal part so far. If we look at the revenue, we have started following the order flow. We see that in the last quarter, the revenue has started to increase dramatically. We have an increase of 20% in the quarter compared to the previous quarter, to 1.4 billion. Rullande 12 månader så är vi uppe i 5,4 miljarder nu i omsättning. Så det är ju en positiv följd av orderingången. Sen är det klart att vår resa med lönsamhet är ju det fundamentala i bolaget. Efter om vi backar 3, 4, 5 år så var ju det en nödvändig omställning vi gjorde i bolaget 2022 och 2023. Att fokusera på att få en sund och hållbar lönsamhet. We now have a quarter, although it is the first quarter of the year, we are happy that these 56 million that we have come to now in the quarter is our highest result ever in the company. If you look at the quarter earlier this year, you can see that we have a strong increase in salary. If we look at the right diagram, the EBITDA margin, you can see that two years ago we were at approximately 2% in margin. A year ago we had 3% and now we are up to 4% in margin in the quarter. And that has been fundamental for us, that we increase profitability in the project. So, rolling out to 12 months now, we are up to 3.9% in profitability. And we still have our goal, 5% is our absolute goal. Men vi tycker att, jag ser ju att vi successivt närmar oss målet här och det är riktigt positivt. En stor anledning varför vi lyckas ha den här successiva ökningen av lönsamhet är ju också att vi har inga större produktprojekt i vår pipeline idag som drar ner lönsamheten. Och det är ju helt enkelt för att vi har en bättre solid styrning i bolagen, i projektstyrningen. So this is fundamental that we have this successive increase that we can show stability in these years. The cash flow, I would say that we had a really strong cash flow in Q3 and Q4 last year. And the fluctuation is normally seen in the construction industry that it goes up and down depending on when the payment plans expire exactly at the quarter change. Men vi kan ändå konstatera att trots de starka kvartalen i fjol så har vi fortsatt till en riktigt stark kvartal när det gäller kassaflödet i år på 80 miljoner. Det gör att den samlade tolv månaders kassaflödet är nu uppe i strax under 400 miljoner i kassaflödet. Även om det är flukterande mellan kvartalen så tycker jag det är en väldigt stark signal till oss själva också att vi är på rätt väg även med lönsamheten. Solidity is at about 30-31%. The net debt in relation to the result is a measure that looks strange. It is negative. This means that we have a positive net cash instead of a debt. We are very happy that we have a net cash of 130 million now after quarter one. So it's a positive development even though it's negative in the diagram here. If we look at the different segments, our three companies. The largest company, Byggpartner, continues a strong development with a strong project pipeline that we have in the form of order stocks and also a large part of these FASET collaborations that I mentioned earlier. Now we see that the turnover in the construction sector is increasing rapidly. We have a 42% increase in turnover compared to last year's quarter. This is a really good real increase, which is challenging of course, but I think we are doing really well. It is also exciting that despite the increase in volume, we also have a margin that is still at an increased and high level. 4.8% in the quarter is really good. In terms of figures and the company's business is on a really good level today. So this is a really positive feeling in the building partner group. Olin Ekeroth. I can say that in Östergötland, the last quarter, especially the last one, we have seen a clear positive market development in many ways. And that confirms when we have, Olin Ekeroth has a really strong market position in the county. And we see that now that it has turned out in the company that we get a number of new project entrances due to the proximity we have and the relationships we have with customers. And not least has it affected industry customers. We have several new industry customers that are in the first position now to discuss new jobs. So in addition to Saab, which we have discussed and shown earlier, which we have a strong collaboration with, for example Siemens in Finnspång, we have received several new projects during the period. So that's really positive. So the order volume is higher than in several years, almost 1.2 billion. We also have a handful of first-stage phase 1 collaborations in Ålin Ekeroth, which strengthens the image that the market is in a positive direction and that we as a company take that position. The increase in the supply chain has not yet been seen in the turnover, so we have a turnover that is about the same level as last year. But the profitability, which normally has been weak in the first quarter for several years in a row, there we see today a more normalized profitability back in this quarter. We have a level of 3.4%, which means that we have doubled the result compared to last year. So overall, we have a good development in the company. We have a pipeline that is stronger than ever, and we think that the result starts at a more balanced level this year. So, a positive feeling for the continuation of Olin Ekeroth this year. Claude Jens. Then we have had a strong order entry into 2026. You can see last year when we greatly increased with a number of new projects in the business. Then we have a good chance that this year will go into a good expansion. But we had a weak start in January and February. production, so that it is first actually from March now we see an increased production in these new projects. So we have a continued expectation of an increased turnover in Flodens when we look forward during the year. So we have an order stock with conditions for a good turnover, so we are safe with that. At the same time, we have an upstart of many new projects in relative company size. And then we are careful with the outcome. You can think that the result is positive, it is 2 million plus in the quarter. But we are careful with the outcome, especially considering that there are many new startups in the company. But also here I can say that we have positive expectations of the company during this year. And I think we have started it in an expected way at least. I will sum up the beginning of the quarter. There are no dark clouds in the sky today. Of course there are, given the uncertain environment around us. There is a reason for us to be on our toes when it comes to risk assessment, to have close dialogue with our customers and suppliers about the future development, not least in terms of cost development in the world. But we also see that we have a reason to be very happy for the quarter we have behind us now. So an increased pipeline and new projects that I have told you about. Strong order stock. The revenue growth is starting to show up here with over 20%. EBITDA at 5-6 million is a strong increase compared to previous years. At the same time, we are on a journey towards our goals. We have a margin of 4% and a strong cash flow. Of course, I present this with humility, but it is with great joy that we have an organization that delivers in this way. Our fantastic employees who are behind this are basically our company. Jag är mycket tacksam för att vi har nått de här siffrorna och har en fin förväntan framåt för året. Och som sagt, våra medarbetare som levererar det här är värt att hylla högt. Då tänkte jag att jag är klar med min genomgång här och är öppen för frågor.

Om du vill ställa en fråga, tryck firkant 5 på din telefon för att ställa dig i kön. Om du vill dra tillbaka din fråga, vänligen tryck firkant 6. Du kan även skriva din fråga i rutan under presentationen på webbsändningen. Som en påminnelse, om du vill ställa en fråga, tryck fyrkant 5 på din telefon. Så har det inte kommit in några frågor ifrån lyssnarna via webben. Nästa fråga kommer från Oliver Ljusitalo från Aktiespararna. Varsågod.

God morgon, Sture. Jag hoppas att ni kan höra mig och stort klart till ett bra kvartal. Du är inne lite kort på slutet där rörande obeheter kopplat till omvärldsläget och inte minst Maybe increased energy prices, which has been a hot topic for the past few months. How are you dealing with possible Bosnian inflation again? This was of course a pretty big problem four years ago. Do you see anything in the costs in the current situation? Do you want to develop a little bit how you are doing in that question?

I was with you four years ago when our industry was hit by a situation that we were not prepared for in any way. I think we have a completely different experience today and to be prepared for these uncertainties. Above all, we are very close to the dialogue with our suppliers and the critical parts, as you mentioned, where energy prices have affected our input goods when it comes to price levels. Above all, that we have close dialogue with our customers and understand how we should also flag for cost increases. We work a lot in collaboration where we work with open books and have a close dialogue with customers. Then when it comes to offers that we are doing today, we take clear risks when it comes to insecurity today in our world. But you can say that Det är väldigt mycket farhågor än så länge så det är väldigt svårt att tolka några långsiktiga effekter av det här just nu. Utan framförallt att vi ligger väldigt nära våra leverantörer för att förstå kostnadsutvecklingen.

Just det. Kan du utveckla mer konkret kopplat till att jag noterade till exempel att de här två städer för skolprojekten var avtal till fast pris?

Ja, de är avtalade till fast pris och då har vi gjort våra riskbedömningar så att vi har riskpåslag i de där analyserna, i de där anbuden naturligtvis, för att ta höjd för de risker som vi ser. Sen så har vi också ringat in i de här projekten också att vi har villkor från leverantörer där vi har ringat in osäkerheten också på de stora kostnadsbaserna. som ofta är stommar, stora installationsdelar.

Just det. Och sen tänkte jag lite kort här kring nya avtalet med Vattenfall också. Det kommer träffa orderingången i Q2, tyckte jag att du sa. Kommer vi även se en effekt på omsättningar redan i Q2 eller ligger den lite längre bort?

I think the plan is to start up the project around the summer, but I think it's first in Q3-Q4 that you would be able to see significant effects on this in the turnover.

Right. That's what I had from this quarter. Thank you.

Thank you very much.

Som en påminnelse, om du vill ställa en fråga, tryck fyrkant 5 på din telefon. Det finns inga fler frågor just nu, så jag lämnar över ordet till talarna för eventuella avslutande kommentarer.

Tack för det. Då vill jag bara avsluta igen med ett tack för att ni lyssnade. Och hoppas ni har en känsla att byggpartnergruppen är på rätt väg. Vi har haft en bra start på året. Så jag önskar er all lycka till och ha en bra dag. Så hörs vi i nästa kvartal. Tack för att ni lyssnade. Tack så mycket.