Nobia AB (publ)

Good day and thank you for standing by. Welcome to the Nobia Q2 Report 2026 Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during this session, you will need to press star 1, 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1, 1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Jesper Jueling Olsson, Group CEO. Please go ahead.

Good morning and welcome. Since stepping into the CEO role six weeks ago, I am still new in this position, but I'm not new to Nobia. Through my years with HGH, I have firsthand seen the strength of our brands, the dedication of our people, and the opportunities that emerge when we work together with focus and urgency. Over the past weeks, I've spent time across the business, listening, learning, and engaging with colleagues, customers, and partners. My conviction is stronger than ever. Nobia has valuable assets leading brands and significant potential. Today, I will share my initial observations, our Q2 performance and how we are progressing on the priorities that will strengthen Novia and create long-term value. Let's get started. Highlights from Q2. the Nordic kitchen market remains challenging with demand continuing at a low level and customer remaining cautious. While we are encouraged by the positive development in both Sigdal and HGH, we are not yet seeing a stable market rebound on the horizon. With that said, we are seeing signs of stabilization Through disciplined cost control and a continued focus on operational efficiency, we have made progress in improving margins and strengthened our underlying performance. Our business-to-consumer segment continues to lag behind 2025. We although believe this is primarily driven by macroeconomic factors as larger renovation projects remain subdued and consumers take a longer consideration time before starting their renovations. Despite the weak market environment, our adjusted gross margin improved during the quarter. This was driven by a favorable average order value, a healthy product mix, and a lower production cost. The improvement in gross margin has translated into a stronger adjusted EBIT demonstrating the benefits of our ongoing efficient initiative and commercial disciplines. As you know, we are continuing the consolidation of our Nordic operations to create a more effective business structure. A key milestone during Q2 was the transfer of all stores in Finland to HTH. Finland is now fully integrated as a commercial business unit within HGH, allowing us in the future to leverage the strength of the HGH brand and operating model. During 2026, we will invest in refurbishing the finished stores network to ensure a consistent and compelling customer experience across the market. The kitchen market, looking Now handing over to Robert.

Yeah, thank you Jesper. Looking at the financial performance in the quarter and starting with net sales then, we reported net sales of 1,498,000,000 versus 1,513,000,000, same corresponding quarter last year. That then translates into negative reported growth of minus 1% and also then negative organic growth of minus 1%. As Jesper alluded to, we had a huge improvement of the adjusted gross margin. It improved with 310 basis points to 39.8 versus 36.7. Looking at the FG&A in absolute terms, it was pretty much flat, only a slight increase. With regards to the percentage SG&A in relation to sales, there was an increase in the SG&A percentage of 0.4 percentage points, 25%. Looking at the adjusted EBIT then, a substantial increase with 40 million, 128 million SEK versus 88 million in the same corresponding quarter last year. And that then translates into an adjusted EBIT margin of 8.5%. versus 5.8%, the same corresponding quarter last year. On the cash flow, we had cash flow from operating activities amounting to 129 million versus 236 million, same corresponding quarter last year. I'll share some more details around these numbers in the financial performance section a couple of slides ahead. So, handing back to you, then, Jesper.