Aq Group Ab · OMXSTO:AQ
Aq Group Ab — Q3 2026 Earnings Presentation
19 slides from Aq Group Ab's earnings presentation, 2026
Slide 1: AQ Group Investor presentation Q3 2026
AQ Group Investor presentation Q3 2026
Slide 2: Why invest in AQ Group
Why invest in AQ Group EPS CAGR 14% over the past 10 years Profit every quarter since foundation in 1994 Exposure to industrial market segments with underlying growth; Electrification (data centers) Defense Med-Tech Long history of acquistions. 2-4 factories/year Strong balance sheet – net cash posi
Slide 3: AQ Group - Quick facts
AQ Group - Quick facts Production 8,000 10bSEK 7 Business 15+ Market in 17 Employees Turnover areas segments countries +4,000 Profit(EPS) 2-4 UN Global 14% EPS customers every Q for acquisitions compact CAGR globally +30 years / year since 2012 3
Slide 4: Third Quarter, July-Sept 2026 in brief
Third Quarter, July-Sept 2026 in brief Net sales increased by 21% to SEK 2,566 million (2,114) Goal >15% growth Operating profit (EBIT) increased by 36% to SEK 259 million (191) Profit after financial items (EBT) increased by 38% to SEK 257 million (187) Profit margin before tax (EBT %) was 10.0% (8
Slide 5: First nine months, Jan-Sept 2026 in brief
First nine months, Jan-Sept 2026 in brief Net sales increased by 11% to SEK 7,500 million (6,748) Goal >15% growth Operating profit (EBIT) increased by 18% to SEK 739 million (624) Profit after financial items (EBT) increased by 19% to SEK 736 million (619) Profit margin before tax (EBT %) was 9.8%
Slide 6: Highlights in the quarter
Highlights in the quarter Doubled EPS since 2021 from 4 to >8 SEK adjusted for split. High growth in the USA and China in inductive components and electrical automation Growth in data centers and defense continue to accelerate. All data center content factories on full throttle. Especially inductive
Slide 7: Lowlights
Lowlights Need to improve quality and productivity in AQ Inductive Components India. Delays in some defense projects due to delayed equipment. Backlog in data center deliveries that need to be recovered in Q4. Low capacity utilization in Mexico and New York. Time 24 output not as we want. Improvemen
Slide 8: AQ Group EPS Growth and DPS
AQ Group EPS Growth and DPS CAGR 14% CAGR 14% 14% CAGR EPS & DPS 2015-2025. The target is to double EPS every 5 years. We have doubled the EPS between 2021 and 2026Q3R12. 8
Slide 9: Net sales development
Net sales development 2026 Q3 vs 2025 Q3 Organic growth: +17.9% Acquired growth: +2.2% Currency effect: +1.3% Net sales growth: +21.4% 9
Slide 10: Sales growth and investments
Sales growth and investments Inductive components for electrification including data centers grew >60% compared to the same quarter 2025. We continue to increase capacity for inductive components with new investments (equipment and Norlake). Inductive prototypes delivered for a new solid-state trans
Slide 11: Organic growth
Organic growth Organic growth in Q2 was +18%, above our target of +10%. Target +10%/ year High demand in defense, data centers. High demand in Asia and USA. All market segments grew in the quarter. 11
Slide 12: Acquired growth summary
Acquired growth summary Time 24 acquired in Q2. Deliveries improved but still not good enough. Several new leaders in place now to improve productivity and delivery reliability. Gumboda acquired in Q3. Small acquisition to increase capacity for defense and power grids. Bolt-on. Will be integrated in
Slide 13: Acquired growth
Acquired growth Acquired the assets from Norlake on the 21st of September. EV including real estate $13,5m. Increases production capacity of inductive components in the USA. Equipment and buildings to produce transformers and inductors for a revenue of $35m. Norlake has customers within electrical a
Slide 14: Acquired Growth
Acquired Growth +2% acquired growth in Q3. Time 24 acquired in Q2. Gumboda Stålteknik and Norlake acquired in Q3. Target +5%/ year Lost some opportunities in the quarter but have as usual several targets under evaluation. 14
Slide 15: AQ Group EBT Margin development
AQ Group EBT Margin development EBT Margin in Q3 was 10%. EBT Margin (%) goal 10% Cost control is good. Good sales and utilization in inductives in USA and China compensate for vacation shut downs in Europe compared to same quarter last year. Several factories have potential for further improvement.
Slide 16: Inventory value & turnover development
Inventory value & turnover development Inventory turnover target is 3.5 turns/year. Currently we are at 2.9 Increase in inventory value in Q3 due to increased delivery pace for inductives for data centers and components for defense and power grids projects. 16
Slide 17: Net cash from operating activities and Net cash
Net cash from operating activities and Net cash Operating cash flow of 269 mSEK in the quarter. This results in a net cash position of 467mSEK. We have a working capital increase in inventory and accounts recievable due to growth in the quarter. 17
Slide 18: Why invest in AQ Group
Why invest in AQ Group EPS CAGR +14% over the past 10 years Profit every quarter since foundation in 1994 Exposure to industrial market segments with underlying growth; Electrification (data centers) Defense Med-Tech Long history of acquistions. 2-4 factories/year Strong balance sheet – net cash pos
Slide 19: Questions?
Questions? Q&a WE ARE RELIABLE 19