Volati Ab · OMXSTO:VOLO
Volati Ab — Q3 2026 Earnings Presentation
15 slides from Volati Ab's earnings presentation, Oct 23, 2026
Slide 1: Q3 Interim Report Jul-Sep 2026
Q3 Interim Report Jul-Sep 2026 Andreas Stenbäck, CEO Charlotta Nyberg, CFO 23 October 2026 Volati Interim Report July - September 2026
Slide 2: Continued growth and improved underlying earnings
Continued growth and improved underlying earnings Growth Earnings Cash flow +12% SEK 58 m SEK 55 m net sales EBITA (76) operating cash flow (40) Net sales increased to SEK 1,176m EBITA before items affecting Operating cash flow increased in the (1,051), driven by Ettiketto, comparability increased b
Slide 3: Ettiketto strengthens acquired companies' margins through synergies and operational improvements
Ettiketto strengthens acquired companies’ margins through synergies and operational improvements Margin, illustrative Ettiketto margin at time of acquisition Acquired companies starts at lower margin Acquire Integrate Strengthen margins Add-on acquisitions alongside organic Synergies, such as co-loc
Slide 4: Financial development, LTM Q3 2026
Financial development, LTM Q3 2026 CAGR +6,8% Net sales 4,594 472 SEK m 419 (Q3 2025: 4,362) 390 341 318 EBITA 303 245 262 245 SEK m (Q3 2025: 355) 11,2% 168 10,7% 10,1% 9,1% Operating cash flow 7,4% 7,4% 7,0% 321 5,9% 5,3% SEK m (Q3 2025: 283) 2020 2021 2022 2023 2024 2025 LTM Q1 LTM Q2 LTM Q3 2026
Slide 5: Strong cash flow supports continued acquisitions
Strong cash flow supports continued acquisitions • Operating cash flow increased to SEK 55m (40) in the quarter. LTM operating cash flow was SEK 321m, Net debt / adjusted EBITDA1 corresponding to 93% cash conversion. Seasonally strong 3.0 3.1 2.9 2.9 2.9 year-end cash flow is expected to reduce leve
Slide 6: Financial targets
Financial targets EBITA growth Return on adjusted equity Capital structure The target is an average annual growth in The long-term target is a return on The target is a net debt/adjusted EBITDA1 EBITA1 per ordinary share of at least 15 adjusted equity1 of 20 percent. ratio of 2 to 3 times, and not e
Slide 7: Five platforms with growth focus
Five platforms with growth focus Ettiketto S:t Eriks Tornum Communication Corroventa Group Group Group Critical High-quality Manufacturer and Supplier of grain Self-adhesive labels infrastructure products for dealing supplier of handling, feed and machines for solutions through with water damage, in
Slide 8: Ettiketto Group
Ettiketto Group • Net sales increased by 51% to SEK 448m, mainly through acquisitions. Interket accounted for 26% of sales, and NicEtikett added a smaller contribution. 1,586 • Good organic growth, driven by strong demand in 1,434 1,316 Sweden, where the business recovered last year’s decline. 20.6%
Slide 9: Communication
Communication • Net sales increased by 7% to SEK 161m (150), mainly driven by strong project volumes. • The market remains cautious, with telecom facing the 766 744 highest level of uncertainty. Sales to other areas of critical 691 694 705 667 infrastructure helped offset the impact. 653 • EBITA inc
Slide 10: Corroventa
Corroventa • Net sales increased by 44% to SEK 95m (66), driven by the acquisition of Tramex, which accounted for 32% of sales. 365 • Few flooding incidents continued to dampen underlying demand; future weather events could have a significant 324 315 impact. 287 34.9% 268 • EBITA increased by 68% to
Slide 11: S:t Eriks Group
S:t Eriks Group • Net sales decreased by 9% to SEK 291m, reflecting a deliberate shift away from less profitable segments and a still challenging construction market. 1,518 1,511 • Infrastructure was more stable, helped by a stronger civil 1,340 engineering market, while water and wastewater was 1,2
Slide 12: Tornum Group
Tornum Group • Net sales decreased by 17% to SEK 184m, mainly because last year’s large deliveries to Lantmännen have not been fully replaced by new volumes. 951 924 • The decline reflects a cautious market, not lost market 905 830 838 share. Customers’ investment needs remain, but decisions 816 780
Slide 13: Three add-on acquisitions in 2026, with combined annual sales of SEK 575m
Three add-on acquisitions in 2026, with combined annual sales of SEK 575m Ettiketto S:t Eriks Tornum Communication Corroventa Group Group Group SALES SALES Beneli SALES Scanmast SALES Tramex SALES Byggsystem JPT June 2020 160 June 2021 290 July 2026 90 June 2021 60 January 2021 80 Märkas MAFI Meag A
Slide 14: Summary
Summary • Net sales increased by 12%, driven by Ettiketto Group and Corroventa, while Communication remained stable despite a continued cautious telecom market. • Three acquisitions in 2026, including two during the quarter, add annual sales of SEK 575m. • EBITA of SEK 58m (76) includes SEK 29m in i
Slide 15: volatl.
volatl.