Prevas AB

Hello and welcome to today's webcast with Prevost. With us as presenter today, we have the CEO, Moni Svillén, and CFO, Tina Bergström. If you're calling in and would like to ask a question, please press star 9 to raise your hand and star 6 to unmute yourself when you get the word. You can also type in your questions using the form to the right of the broadcast. And with that said, I hand it over to you guys and I'll be back for the Q&A.

Thank you very much and I welcome you all to the presentation of the Q3 results for Prevas. The agenda for this short meeting looks like this. We will start with this introduction, then we will have a review of our financial performance for the third quarter, then we will have a market update and we finalize this meeting with a Q&A session. So looking into the third quarter of 2026 for Prevas. Prevas delivered a stable performance in the third quarter of 2026 with improving key metrics. We can see that Prevas is returning to a positive organic growth after six quarters. This means that we are delivering a net sales of 357 million SEK compared to last year, 355.2 million SEK. despite the fact that we are lower number of employees. The EBITDA for the quarter was 30.1 million SEK compared to last year of 30 million SEK and the EBITDA margin was unchanged 8.4%. We can see that we had a very positive development of the operating cash flow for the quarter. We delivered 31.9 million SEK in operative cash flow compared to last year 21.3. The EPS for the quarter was 1.37 SEK compared to last year 1.34. So all in all, Q3 was a clear step in the right direction for Prevas. We managed to grow our turnover and we delivered 8.4% of EBITDA with less employees. This reflecting increased efficiency thanks to all the different actions we have taken in Prevas and the sales focus I've been working on for the last quarters and also during the third quarter. Another fact is that we have a higher delivery volume in areas with higher value add in this quarter, where we actually have higher margins in those offerings that we have been growing in the third quarter. Looking then into more of the details, what is driving the improvements we make in Prevas? Looking into Sweden, we can see that the EBITDA grew with 12% versus Q3 of last year. And we reached an EBITDA margin of 9.7% in Sweden. And the reason for this is absolutely quite simple. Higher utilization, improved efficiency, thanks to the actions we have taken, but also that we are, especially in Sweden, increasing our part of the business where we deliver in higher value projects with higher margins. And that is improving the margins we make in Sweden. Then I'm very pleased to see that in Denmark we are once again back to profit. After three loss-making quarters, now Denmark is back on track. We deliver an EBITDA margin in Denmark of 7.9%, and this once again is thanks to higher utilization and improved efficiency. The team in Denmark has been working very, very hard in order to adapt to a more tough market that we have seen, and this now pays off. We also see in Denmark a growth, and the growth is in cybersecurity and defense, the two priority areas we see in Denmark right now. We also see that we actually have net growth in terms of employees in Denmark. If you compare the first month in the quarter and the end of the quarter, we actually have a net growth in Denmark in terms of employees, which of course is promising for the future. Looking into Finland, we can see that during the third quarter that Finland is improving, but we need to do more. We can see the EBITDA, it reached now a positive EBITDA of 0.7 million SEK, 1.5%. This is still below our ambitions, of course. We need to improve. But we have taken measures in Q2 that we see the results now in Q3. These measures has made us increasing the utilization and also made our cost base substantially lower. During the second quarters, we signed orders that contributed positively to the third quarter's results. But one thing that has affected the quarter negative is that the defense orders we made in Q2, the plan was to start them immediately in Q3. But unfortunately, these defense projects has been postponed. They are now started, but they started later than planned. And this influenced the quarter negatively, but naturally we will see a positive effect of these defense projects when we move into the coming quarters. We also see a growth in data centers in Finland recently. We see this in other parts of Piazza as well, but most particularly in Finland, we see interesting growth in that area, which of course is very welcome in the Finnish market. That still is quite tough, to be honest. our focus is very simple in Finland it's it's we focus on sales we focus on turning our orders into revenue into margins and to improve our profitability we have a new organization in place since Q2 we have a motivated team and they work extremely hard to prove that Finland can and will deliver strong margins I'm so convinced that we will see this in the future So with this, I hand over to you, Helena, to talk a little bit about our cash flow and the financial position we have in Prevas.

Thank you, Magnus. As said in the beginning, cash flow from operating activities amounted to 32 million SEK in Q3, compared with 21 million SEK the corresponding quarter last year. This represents a continued strong recovery compared with the corresponding periods in recent years. The higher cash outflow from financing activities compared with last year was mainly explained by the repayment of the 30 million SEK drawn on the overdraft facility in Q2 2056, combined with a positive impact of 11 million SEK from new borrowing in the corresponding period last year. Cash at the end of the quarter amounted to 1 million SEK compared to 7 million SEK last year. And the net debt in relation to rolling 12 months EBITDA was 0.9. Our financial targets is not to exceed 2.0 over time, meaning that we remain well within our financial target. An equity ratio of 54% compared with 50% last year. Magnus, back to you and a market update.