Enea AB (publ)

Welcome to the NEA Q2 presentation 2026. During the questions and answer session, participants are able to ask questions by dialing pound key 5 on their telephone keypad. Now I will hand the conference over to the CEO Taimou Salmi and CFO Ulf Stigberg. Please go ahead.

Thank you so much, operator, and good morning, everyone, to this Q2 call for Enea. This is Teom Salmi speaking, and with me in the room I have Ulf Stigberg, our CFO, as mentioned. In the next 20 minutes, we'll take you through the Q2 and first half report and numbers, and we'll end up with some questions at the end, if there might be any, both written and verbal. But as said, already now, we have a short introduction going through, taking you through the quarter, the highlights of the quarter. We will make a deep dive into our financial result. We will end off the presentation with a way forward and our outlook as well. And it's, of course, not written here, but there is going to be time for questions at the end as well. Right, let's jump straight into it and look at the Q2 highlights. As you might remember, we have from this year started to report our offering into portfolios, our growth portfolio and our classic portfolio. And we have good development in our growth portfolio. We are growing that part of the business with 11% in the quarter. We have a very strong operational cash flow in the quarter. The operational cash flow adds up to 88 million SEK, which is actually more than the last four quarters together in total. So we have a very good development there. And then also another highlight is that our government business is continuing to grow in a very good pace as well. And we have added one new customer in the quarter as well in that domain. If we continue with a little bit more details about the market and business development for us in the quarter, we have in the first half a currency adjusted growth of 6% net sales growth and in the quarter it resembles a 1% currency adjusted decline. But still, since we had such a good start of the year with a strong quarter one, we are reporting a 6% currency adjusted growth for the first half of the year. In the quarter, we have added five new customers, where four is in our growth portfolio and one new customer in our classic portfolio. And it actually pretty much resembles the sales split that we have as well between the portfolios, which is 80-20 growth and classic growth. For the new customers, we have added two new customers in traffic management and DPI. We have added one new enterprise customer, solely DPI, and we have added one new firewall customer. Those are the four customers that we've added in the growth portfolio. And we have also added one AAA customer in our classic portfolio during the quarter. And like I said already a couple of minutes ago, our government sector is growing very well and we have a very good momentum there as well. We are definitely building a new vertical for Enea to stand on when it comes to our future growth, which is absolutely in line with our strategy as well. So we have added an Asian government customer in the quarter, which we also communicated at the end or early July separately as well. Our strategy execution is accelerating and it's going according to plan. And I would like to just take the opportunity to talk a little bit about our strategy execution and what we have actually done in the last quarter. And if you might recall, we have divided our strategy into three pillars. One we call market acceleration, which is basically about making sure that we increase our capacity to sell more. Our vertical expansion, which summarizes in the fact that we want to take our great existing solutions and bring them into new verticals. And here, government vertical is the vertical that we are betting on. And then offering evolution is our third strategy execution area, which of course has to do with the fact that we need to continuously stay ahead of the curve and be relevant to our customers and relevant to the market with our offerings. So in the market acceleration, we have in the quarter now expanded our global sales team. We have added four new sales team members and we're adding two new now in quarter three as well. And then we are pretty much done with that step change that we want to do in our global sales team. And this kind of a fundamental need in order to accelerate the growth of the company and get us to where we want to be as part of our three year strategy that we have communicated earlier.

And I'll come back to that, of course, in our outlook slide as well at the end.