Duni Ab · OMXSTO:DUNI
Duni Ab — Q3 2026 Earnings Presentation
24 slides from Duni Ab's earnings presentation, Oct 23, 2026
Slide 1: Interim Report Q3 2026
Interim Report Q3 2026 Operational progress in a continued challenging market Robert Dackeskog, President and CEO Magnus Carlsson, CFO 1
Slide 2: Disclaimer
Disclaimer – This presentation has been prepared by Duni AB (the “Company”) solely looking statements involve known and unknown risks, uncertainties and for use at this investor presentation and is furnished to you solely for your other factors, which are in some cases beyond the Company’s control i
Slide 3: Agenda
IN TE R IM R E P O R T Q 3 2 0 2 6 Agenda • Highlights • Q3 Key activities • Market outlook • Q3 Key Financial performance incl. Business areas • Sustainability & Our long-term targets • Financials • Summary • Q&A 3
Slide 4: Q3 in brief
IN TE R IM R E P O R T Q 3 2 0 2 6 Q3 in brief • Organic sales growth of 1.7%, driven by continued strong development in Australia as well as increased napkin volumes in Europe • Operating income impacted by transition costs, elevated fuel prices and continued weak restaurant demand in Europe • Logi
Slide 5: Key activities in the quarter
IN TE R IM R E P O R T Q 3 2 0 2 6 Key activities in the quarter Logistics transition – significant progress • Backlog eliminated and operational stability significantly improved • Transfer of remaining German volumes continued during Q3, with completion expected in Q4 • Transition cost impact expec
Slide 6: Key activities in the quarter
IN TE R IM R E P O R T Q 3 2 0 2 6 Key activities in the quarter Developing the offering • Strong initial pre-order interest ahead of the d.ls lighting platform launch • Duniform strengthened its offering through a new brand concept and mono-material solutions with improved recyclability • New PPWR-
Slide 7: Market Development
IN TE R IM R E P O R T Q 3 2 0 2 6 Market Development • Market conditions remained weak throughout H1 2026, with no clear signs of recovery • Full service restaurants in Germany most negatively impacted with visits down -6,1% Jan-Aug vs Last year and -25% vs 2019. • Restaurants continued to face pre
Slide 8: European Foodservice – Key Trends
IN TE R IM R E P O R T Q 3 2 0 2 6 European Foodservice – Key Trends • Full service restaurants continue to face pressure, while quick service channels remain more resilient • European foodservice traffic remains broadly flat, with stronger growth is seen in markets such as China, the US and Canada
Slide 9: Q3 2026 Key Financials
Q3 2026 Key Financials N E T S ALE S O P E R A T I N G I N C O ME OPE RAT ING M ARGIN SEK 2,033 m SEK 133 m 6.5% Net sales amounted to Operating income amounted to Operating margin was SEK 2,033 m (1,972) SEK 133 m (168) 6.5% (8.5) 9
Slide 10: Q3 Comments
Q3 Comments N E T S ALE S O P E R A T I N G I N C O ME • Sales up 2.0% in fixed currencies • Income impacted by costs related to the logistics transition • Improved delivery performance supported sales as remaining • Freight inefficiencies and increased fuel prices resulted in elevated costs backord
Slide 11: BA Dining Solutions
BA Dining Solutions N E T S ALE S O P E R A T I N G I N C O ME OPE RAT ING M ARGIN SEK 1,217 m SEK 92 m 7.5% Net sales amounted to Operating income amounted to Operating margin was SEK 1,217 m (1,221) SEK 92 m (140) 7.5% (11.5) 11
Slide 12: Dining Solutions Q3 2026
Dining Solutions QUARTER NET SALES LTM Q3 2026 1,400 5,000 1,200 1,000 800 600 400 200 0 4,000 NET SALES, SEK M NET SALES LAST 12 MONTHS (LTM), SEK M • Sales up 0.1% in fixed currencies, supported by the clearing of remaining backorders from Q2 QUARTER OPERATING INCOME LTM • Private label demand rem
Slide 13: BA Food Packaging Solutions
BA Food Packaging Solutions N E T S ALE S O P E R A T I N G I N C O ME OPE RAT ING M ARGIN SEK 816 m SEK 41 m 5.0% Net Sales amounted to Operating Income Operating Margin was SEK 816 m (751) SEK 41 m (27) 5.0% (3.7) 13
Slide 14: Food Packaging Solutions Q3 2026
Food Packaging QUARTER NET SALES LTM Solutions Q3 2026 1,000 3,500 800 600 400 200 0 2,800 NET SALES, SEK M NET SALES LAST 12 MONTHS (LTM), SEK M • Sales up 5.1% in fixed currencies, driven by Australia and acquired companies QUARTER OPERATING INCOME LTM • European sales broadly stable, with growth
Slide 15: A Trusted Sustainability Leader
A Trusted Sustainability Leader " O U R D E C A D E O F A C T I ON ” Enabling people to enjoy good food, well-being, and togetherness – today and for generations to come. A Trusted Sustainability Expand our Innovative Offering to Customers and Consumers Leader Strengthen our Market Positions in Euro
Slide 16: Group Targets
DUN I GROUP Group Targets Suppliers who have Sales Operating Share of circular Climate Lost-time signed the Code of Dividend growth margin input materials target incidents Business Conduct TA RG ET >6 % >10% >50% 90% -57% <10 100% Currency-adjusted sales growth (2030 target, base year 2025) Scope 1
Slide 17: Financials
Financials 17
Slide 18: Income Statement
Income Statement LTM / SEK m Q3 / 2026 Q3 / 2025 YTD / 2026 YTD / 2025 FY / 2025 2025-26 Net sales 2,033 1,972 5,620 5,720 7,586 7,685 Gross profit 1) 454 497 1,255 1,365 1,772 1,882 Gross margin 22.3% 25.2% 22.3% 23.9% 23.4% 24.5% Selling expenses1) -200 -193 -597 -589 -808 -801 Administrative expe
Slide 19: Business Area Financials
Business Area Financials LTM / SEK m Q3 / 2026 Q3 / 2025 YTD / 2026 YTD / 2025 FY / 2025 2025-26 Dining Solutions Net sales 1,217 1,221 3,312 3,477 4,513 4,678 Operating income1) 92 140 205 341 337 473 Operating margin 7.5% 11.5% 6.2% 9.8% 7.5% 10.1% Food Packaging Net sales 816 751 2,308 2,242 3,07
Slide 20: Operating Cash Flow
Operating Cash Flow LTM / SEK m Q3 / 2026 Q3 / 2025 YTD / 2026 YTD / 2025 FY / 2025 2025-26 Operating EBITDA 1) 175 207 421 513 615 708 Capital expenditure -25 -67 -132 -133 -246 -247 Change in; Inventory -55 39 -87 71 -118 40 Accounts receivable -110 -15 -145 -67 -80 -2 Accounts payable 0 53 -83 -1
Slide 21: Financial Position
Financial Position SEK m September 2026 December 2025 September 2025 Goodwill 2,842 2,664 2,696 Tangible and intangible fixed assets 2,617 1,982 1,925 Net financial assets1) 191 105 121 Inventories 1,593 1,397 1,390 Accounts receivable 1,347 1,125 1,209 Accounts payable -713 -751 -688 Other operatin
Slide 22: Summary
IN TE R IM R E P O R T Q 3 2 0 2 6 Summary • Significant operational progress, with a more stable logistics setup • Operating income impacted by transition costs, elevated fuel prices and continued weak restaurant demand in Europe • Focus remains on completing the volume transfer and supporting futu
Slide 23: Q&A
Q &A 23
Slide 24: DUNI | The Architects of Dining
D U N | The Architects of Dining