Lindab AB: Lindab Group's Interim Report January-March 2026: Improved operating margin in Ventilation Systems, but challenging quarter for Profile Systems

PRESS RELEASE

6 May 2026

Ventilation Systems showed stable sales in the first quarter of the year, and the operating margin improved thanks to efficiency measures. The Group's operating profit was impacted by a challenging quarter in Profile Systems, due to a subdued project market and harsh winter conditions.

First quarter 2026

• Net sales amounted to SEK 3,003 m (3,214), a decrease by 7 percent. Organic sales growth was -3 percent while the net effect of acquisitions and divestments was neutral. Currency effects amounted to -4 percent.
• Operating profit amounted to SEK 188 m (228). No one-off items and restructuring costs were reported during the quarter.
• Operating margin for the Group amounted to 6.3 percent (7.1) for the first quarter. Operating margin for Ventilation Systems improved to 9.2 percent (9.0), while Profile Systems reported an operating margin of -5.2 percent (1.1).
• Profit for the period amounted to SEK 108 m (145).
• Earnings per share before and after dilution amounted to SEK 1.41 (1.89).
• Cash flow from operating activities amounted to SEK 45 m (160).

Comment from Ola Ringdahl, President and CEO:

"During the first quarter, Ventilation Systems reported stable sales and improved operating margin compared to the previous year. The smaller business area Profile Systems weighed on the Group's result, primarily due to a weak project market.

Organic growth for Ventilation Systems in the Nordics

Sales for Ventilation Systems were stable despite continued challenging market conditions in many markets. The operating margin for the business area increased in the quarter to 9.2 percent from 9.0 percent, thanks to efficiency measures. On a positive note, the recovery in the Nordics continued where ventilation sales showed organic growth in the quarter thanks to proactive project sales. Also, in important countries like Italy and the UK, sales and results were strong, while the markets in Germany and the Netherlands remained weak.

Challenging quarter for Profile Systems

Profile Systems delivers roof and wall solutions, leading to large seasonal variations. A harsh winter in the Nordics impacted sales negatively during the first two months of the year. We also see a weak project market and profitability under pressure in the only remaining Profile Systems operation in Eastern Europe, located in Romania. As previously communicated, the company is planned to be divested, and our assessment is that it will happen during the second quarter. This completes the business area's exit from Eastern Europe.

Furthermore, the sandwich panel business continued to be affected by the impacts of the relocation carried out during the previous winter. Production and sales have not yet returned to the same levels as prior to the relocation. The low sales volume for the business area led to a negative result for the quarter. A potential turning point could be seen in March, with some sales growth and improved profitability.

Given the structural measures implemented and a stabilisation of volumes, our assessment is that Profile Systems has the conditions in place to gradually improve profitability towards the Group's financial targets. The business has now been focused on the Scandinavian markets, where the organisation is being reviewed to increase business focus and ensure clear accountability for results. Further structural measures are continuously evaluated.

Price adjustments to compensate higher raw material prices

Lindab Group does not have any operations in the Middle East, however the conflict around the Persian Gulf affects us through higher raw material prices and increased transport costs. Our stated objective is to fully compensate for these higher costs through price adjustments.

Over the coming year, we anticipate the European ventilation market to grow slightly, from low levels. For Profile Systems, our assessment is a stabilisation in the market during 2026.

To conclude, Lindab Group has strong prospects of benefitting from a growing demand for energy-efficient ventilation, contributing to sustainable buildings and a healthy indoor climate. With a strong product portfolio, well-invested production facilities and a highly competent sales force we stand well positioned to meet increased demand in turbulent times."

Live webcast

A live webcast will be held at 11:00 am (CEST) on May 6. The interim report will be presented by Ola Ringdahl, President and CEO, and Lars Ynner, CFO.

If you wish to participate via webcast, please use the link below.

Q1 Report 2026

If you wish to participate via teleconference, please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.

Q1 Report 2026

Contacts

Ola Ringdahl
President and CEO
E-mail: [e-mail]
Phone: [phone]

Lars Ynner
CFO
E-mail: [e-mail]
Phone: [phone]

Fredrik Wahrolén
Head of Communications
E-mail: [e-mail]
Mobile: [phone]

Lindab Group. Quality ventilation for a better climate.
Lindab Group is one of Europe's largest ventilation groups and provides customers with complete ventilation solutions. High quality, easy installation and reliable delivery contribute to strong customer satisfaction, healthy indoor environments and sustainable buildings. In Scandinavia, the offering also includes roof, wall and rainwater drainage solutions. Within the building materials industry, Lindab Group has been ranked as the European sustainability leader.

Lindab Group, founded in 1959, is vertically integrated across the entire value chain - from machine manufacturing and production of products for air distribution and room ventilation, to distribution and logistics of both in-house manufactured and traded ventilation products.

The Group recorded sales of SEK 12,854 million in 2025 and operates in 19 countries with approximately 5,000 employees. Western Europe accounted for 45 percent of sales in 2025, the Nordic region for 41 percent, Central Europe for 10 percent and other markets for

4 percent.

Lindab Group is headquartered in Grevie, Sweden, and listed on Nasdaq Stockholm, Large Cap, under the ticker symbol LIAB.

This disclosure contains information that Lindab Group is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 06-05-2026 07:00 CET.