Idun Industrier AB: Idun interim report January - September 2026

Idun's net sales increased by 26.1% and EBITA grew by 36.5% in the quarter. Organic sales growth amounted to 11.1%, and EBITA increased organically by 10.9%. Earnings per share adjusted for goodwill increased to SEK 5.0 (3.6) in the quarter and rose by 24.2% on a rolling twelve-month basis to SEK 16.5 (13.3).

Third quarter 2026

• Net sales increased by 26.1% to SEK 657 million (521). Organic growth was 11.1%
• Gross profit amounted to SEK 380 million (306)
• EBITDA amounted to SEK 116 million (86)
• EBITA amounted to SEK 101 million (74). The EBITA margin amounted to 15.3% (14.1%). Organic EBITA growth was 10.9%
• EBITA attributable to Idun's ordinary shareholders amounted to SEK 84 million (64)
• Earnings per share adjusted for goodwill after dilution amounted to SEK 5.0 (3.6)
• Cash flow from operating activities amounted to SEK 38 million (33)
• Prident has completed a minor add-on acquisition of Safety Reflector Finland Oy, with revenues of approximately SEK 5-6 million.

First nine months 2026

• Net sales increased by 17.8% to SEK 1,983 million (1,683). Organic growth was 5.2%
• Gross profit amounted to SEK 1,170 million (1,017)
• EBITDA amounted to SEK 330 million (276)
• EBITA amounted to SEK 287 million (241). The EBITA margin amounted to 14.5% (14.3%). Organic EBITA growth was 0.4%
• EBITA attributable to Idun's ordinary shareholders amounted to SEK 237 million (200)
• Earnings per share adjusted for goodwill after dilution amounted to SEK 13.7 (11.0)
• Cash flow from operating activities amounted to SEK 170 million (158)
• Idun has acquired 90.1% of the shares in Mouldex Sweden AB ("Mouldex"), a leading Swedish service and aftermarket company focusing on service, spare parts, and refurbishment and upgrading of machinery for the sawmill industry. Revenues amount to approximately SEK 40 million with good profitability.
• Idun has acquired 85% of the shares in Anders & Gunilla Bennarsten Service AB ("AGB"), a leading Swedish company within service, calibration and repair of press tools. Revenues amount to approximately SEK 30 million with good profitability.
• Idun has acquired 85% of the shares in Nordbergs Tekniska AB ("Nordbergs"), a leading Swedish distributor of highly specialized technical engineering plastics. Revenues amount to approximately SEK 77 million with good profitability.
• Idun has increased its ownership in Norotec (micronutrients for grain growers, sister company to LMI) from 65% to 77.5%.
• Idun has exercised its right to voluntary early redemption of its outstanding senior unsecured bond loan with ISIN SE0019175XXX and a total outstanding amount of SEK 220 million. In connection with this, Idun has also increased its revolving credit facility from SEK 450 million to SEK 670 million. As of 30 September 2026, SEK 345 million was utilized and SEK 325 million was undrawn, contributing to continued financial flexibility for future investments. The company estimates that the early redemption, together with the financing replacing the bonds, will reduce interest expenses by approximately SEK 8 million over the coming twelve months, starting 1 July 2026.
• A couple of smaller add-on acquisitions were also completed by Stegaföretagen.

Rolling twelve months

• Net sales increased by 15.5% to SEK 2,598 million (2,250). Organic growth was 5.0%
• Gross profit amounted to SEK 1,537 million (1,363)
• EBITDA amounted to SEK 418 million (363)
• EBITA amounted to SEK 362 million (314). The EBITA margin amounted to 13.9% (14.0%). Organic EBITA growth was 0.9%
• EBITA attributable to Idun's ordinary shareholders amounted to SEK 299 million (258)
• Earnings per share adjusted for goodwill after dilution amounted to SEK 16.5 (13.3)
• Cash flow from operating activities amounted to SEK 243 million (243)

Events after the reporting period

• Nothing to report

Live presentation of Idun's interim report for the third quarter of 2026
During the presentation, CEO Henrik Mella and CFO Oskar Samuelsson will comment on the results. After the presentation, a Q&A session will follow, moderated by Carl Korsheden, analyst at DNB Carnegie. The presentation will be held in English.

A recording of the presentation will be available on Idun's website under Investors / Presentations.

Date: 23 October 2026
Start time: 11:00 CEST

How to Join:
Access the digital presentation via the following link: https://access.dnbcarnegie.com/companies/1397/live. After registering, you will be directed straight to the live broadcast.

CEO's message

Idun delivered a strong third quarter, driven by both organic and acquired growth. Net sales grew by 26% to SEK 657 million (521) and operating profit (EBITA) increased by 36.5% to SEK 101 million (74), resulting in an EBITA margin of 15.3% (14.1%). Earnings per share (adjusted for goodwill, after dilution) rose by 42% to SEK 5.0 (3.6).

During the third quarter, we saw a growing share of our group companies gradually beginning to experience more stable market conditions. Organically, net sales increased by 11.1% and EBITA by 10.9%, which we are pleased with. It is also gratifying to note that, for the first time, we exceeded SEK 100 million in EBITA in a single quarter.

The gross margin decreased by one percentage point to 57.8%, driven by a somewhat lower average gross margin in the businesses added over the past 12 months. The EBITA margin strengthened to 15.3% (14.1%). Cash flow from operating activities and goodwill-adjusted earnings per share increased (by 16% and just over 40%, respectively, in the period).

After a weaker second quarter, organic development strengthened in the third quarter. Performance varies between individual quarters, but we view the long-term development with confidence, grounded in what are overall very strong businesses with skilled and committed leaders. It is our conviction that the strong alignment of interests created by Idun's relatively unique and extensive co-ownership model - at group company, Parent Company and Board level alike - further enhances the opportunities for earnings growth in the Group.

Fredahl Rydéns (manufactures coffins and urns) delivered yet another strong quarter in terms of both sales and earnings, and here we are now seeing, among other things, results from our earlier investment in a new handle line. Ståthöga MA Teknik (maintenance for heavy industry) also performed well in the period, mainly thanks to a number of projects within composite treatment of water and wastewater facilities rather than a broader recovery in heavy-industry maintenance. We also note that all group companies added during the year have started their journeys with Idun in an excellent way, with good results.

As always, there are at the same time some companies facing more of an uphill climb. Within Culina, we are seeing fewer public tenders for commercial kitchens, and we are having to respond both on the cost side and by shifting towards other customer categories. Within the LMI companies, Interagro Skog has experienced a setback in products for protection against wildlife browsing damage, and sales of products against root rot have not yet caught up after a weaker second quarter. We do, however, assess the effects as predominantly temporary and believe that they should be correctable.

Our financing costs continue to decrease since, as previously reported, at the end of June we carried out an early redemption of our last outstanding bond of SEK 220 million. During the quarter, Prident completed a minor add-on acquisition of the niche Finnish reflector company Safety Reflector, which has good profitability and a good fit with Prident's product range specifically within reflectors.

The broad entry of AI into our everyday lives is undeniably a transformative shift, both for business and for society at large. As an industrial group, we at Idun view the opportunities this opens up very positively overall, and work is under way relatively broadly to streamline various processes with the help of AI, both at the Parent Company and in the group companies.

We have a positive view of the future development of the group companies, both in the short term and into 2027. Even though there are always company-specific challenges related to operations or demand, the overall picture at present is that the economy is gradually improving and that our group companies are well positioned to capture the opportunities that will arise in a stronger economy. Idun Industrier has a strong financial position and we continue to see numerous interesting investment opportunities.

Henrik Mella, CEO

For further information, please contact:

Henrik Mella, CEO, [e-mail], [phone]
Oskar Samuelsson, CFO, [e-mail], [phone]

Idun's Certified Adviser is Avanza Bank AB, [e-mail], [phone]

This information is information that Idun Industrier is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-10-23 07:00 CEST.

About Us

Idun Industrier AB (publ) is a group of companies that, together with the management of each group company, develops industrial and service businesses primarily based in Sweden with a long-term perspective. Idun invests in small and medium-sized high-quality companies in Sweden and nearby markets, typically niche-focused with strong market positions and stable business models, where Idun can be a relevant and permanent owner. Idun comprises 22 independent group companies employing around 1,000 people, with annual revenues of approximately SEK 2.7 billion. Further information is available at www.idun.com.

Idun's shares are listed on Nasdaq Stockholm, First North Growth Market, under the ticker IDUN B.

The full report is attached to this message and is also available in its entirety at www.idun.com/en/investors/