Alleima Ab · OMXSTO:ALLEI
Alleima Ab — Q3 2026 Earnings Presentation
23 slides from Alleima Ab's earnings presentation, Oct 26, 2026
Slide 1: Interim report Third quarter 2026
Alleima 1 October 26, 2026 Interim report Third quarter 2026 Göran Björkman, President & CEO Johan Eriksson, CFO
Slide 2: Safety first
Alleima 2 Safety first At Alleima our objective is zero harm to our people, Protective equipment Emergency number Psychological safety the environment we work in, our customers and our suppliers. First aid kit Emergency exit Alarm Assembly point Health & well-being Speak Up
Slide 3: Highlights Q3 2026
Alleima 3 Highlights Q3 2026 Volatile order intake R12 order intake R12 organic order intake growth (SEK M) ― Timing of projects ― Solid development in Industrial Heating and Medical ― Weak OCTG - market 17,976 -1% Earnings uplifted by Kanthal Revenues Organic revenue growth ― Under absorption effec
Slide 4: Sustainability – impacting through our offering and operations
Alleima 4 Sustainability – impacting through our offering and operations Share of revenues from the sustainable product portfolio continued to increase - driven by the Medical and Industrial Heating segments Health and safety Recycled steel CO ₂ emissions Sustainable product portfolio R12 total reco
Slide 5: Market development
Alleima 5 Market development ― Volatility persists ― Mixed market sentiment and geopolitical instability ― Continued momentum in key segments Perceived year on year underlying market demand trend The large arrow shows year on year underlying demand trend, the small shows the estimation previous quar
Slide 6: Impacts from the Middle East crisis
Alleima 6 Impacts from the Middle East crisis — Continues to challenge OCTG demand — Lower OCTG volumes affecting Tube’s earnings through reduced capacity utilization and fixed - cost under - absorption — Continued uncertainty affects visibility and customer decisions in the CAPEX - driven OCTG mark
Slide 7: Order intake and revenues
Alleima 7 Order intake and revenues Order intake R12 Order intake R12 Revenues and book - to- bill ― Organic order intake growth (SEK M) SEK M SEK M % of -1% for rolling 12 months 17,976 25 000 6 000 120 ― Organic revenue growth of -2% 5 000 100 20 000 4 000 80 ― R12 book - to- bill 99% 15 000 Reven
Slide 8: Earnings
Alleima 8 Earnings Adjusted EBIT Adjusted EBIT at SEK 202 million SEK M % 700 12 ― Margin of 4.8% ― Strong contribution from Kanthal 600 10 ― FX headwind of SEK 3 million year over year 500 8 400 Free operating cash flow of SEK 373 million 6 300 ― Solid Kanthal performance 4 200 ― Changes in working
Slide 9: Tube
Alleima 9 SEK M Q3 2026 Q3 2025 Q1- Q3 2026 Q1- Q3 2025 Tube Order intake, R12 11,938 12,793 - - Organic growth, R12 ,% -5 -6 - - Revenues 2,752 2,812 9,347 9,974 Organic growth, % -6 -3 -6 1 Mixed market sentiment Adj. EBIT 40 101 701 898 Margin, % 1.4 3.6 7.5 9.0 ― R12 organic order intake growth
Slide 10: Kanthal
Alleima 10 SEK M Q3 2026 Q3 2025 Q1- Q3 2026 Q1- Q3 2025 Kanthal Order intake, R12 4,626 4,162 - - Organic growth, R12 ,% 18 9 - - Revenues 1,165 1,042 3,282 3,015 Organic growth, % 10 7 13 -2 Double digit topline growth Adj. EBIT 226 168 616 496 Margin, % 19.4 16.1 18.8 16.5 ― R12 organic order int
Slide 11: Strip
Alleima 11 SEK M Q3 2026 Q3 2025 Q1- Q3 2026 Q1- Q3 2025 Strip Order intake, R12 1,412 1,710 - - Organic growth, R12 ,% - 15 24 - - Revenues 340 368 1,100 1,147 Organic growth, % - 10 5 -2 10 Declining order intake Adj. EBIT - 15 - 16 17 21 Margin, % - 4.3 - 4.2 1.5 1.8 ― R12 organic order intake gr
Slide 12: Financial summary
Alleima 12 Financial summary SEK M Q3 2026 Q3 2025 Q1- Q3 2026 Q1- Q3 2025 Order intake, R12 17,976 18,665 - - SEK M Order intake, R12 Revenues Revenues 4,257 4,222 13,729 14,136 Q3 2025 18,665 4,222 Adj. EBIT 202 197 1,107 1,191 Organic, % -1 -2 Adj. EBIT margin, % 4.8 4.7 8.1 8.4 Structure, % 0 0
Slide 13: Bridge analysis, adjusted EBIT
Alleima 13 Leverage: N/A Bridge analysis, adjusted EBIT ― Mixed picture SEK M ― Positive effect from targeted measures 197 202 ― Under absorption effects 7 -3 1 Adj EBIT Organic Currency Structure Adj EBIT 1 2 3 4 5 Q3 2025 Q3 2026 Adj. EBIT Adj. EBIT margin 4.7% margin 4.8%
Slide 14: Capital efficiency
Alleima 14 Capital efficiency ― NWC amounted to SEK 7,088 million (6,541) ― Capital employed excl. cash amounted to SEK 16,807 million (16,274) ― Sequential NWC decrease due to seasonality ― ROCE excl. cash of 8.8 % (8.1) in the quarter ― NWC in relation to revenues at 41.8% (39.5) Net working capit
Slide 15: Cash flow
Alleima 15 Cash flow ― Free operating cash flow of SEK 373 million (285) ― Higher operating profit ― Negative changes in working capital Free operating cash flow Free operating cash flow quarterly SEK M 500 SEK M Q3 2026 Q3 2025 Q1- Q3 2026 Q1- Q3 2025 400 EBITDA 545 357 2123 1613 300 Non - cash ite
Slide 16: Strong financial position
Alleima 16 Strong financial position Capital structure Net debt and Financial net debt SEK M Net Pension Leasing liabilities Other cash less Net debt 2 500 liabilities (IFRS 16) liabilities SEK M SEK M SEK M SEK M 2 000 566 390 1,527 - 571 1 779 (735) (433) (1,530) (- 362 ) 1 530 1 527 1 500 1 000 5
Slide 17: Guidance ahead of the quarter and outcome
Alleima 17 Guidance ahead of the quarter and outcome Outcome Q3 2026 Guidance ahead of Q3 2026 Capex (Cash) SEK 658 million YTD 2026 Approximately SEK 1,100 million in FY 2026 Currency transaction and SEK 1 million in Q3 Neutral effect in Q3 translation effect Total currency effect SEK - 3 million i
Slide 18: Guidance Q4 2026 and FY 2026
Alleima 18 Guidance Q4 2026 and FY 2026 Capex (cash) ― Estimated to approximately SEK 1,000 million for FY 2026 Currency effects (transaction and translation) ― Estimated SEK 100 million effect on operating profit (EBIT) for Q4 2026, compared to the corresponding period last year Metal price effects
Slide 19: Outlook for Q4 2026
Alleima 19 Outlook for Q4 2026 — Uncertain outlook expected to continue — Continued momentum in key segments — Mixed status in order backlog — Some effects due to slower production pace in Nuclear – order will be completed in Q4
Slide 20: Summary
Alleima 20 Summary ―Challenging quarter in a mixed market ―Profitable organic growth in Kanthal ―Consistently adjusting to current market demand ―Stable financial position - staying with our long - term strategy
Slide 21: Q&A
Alleima 21 Q&A
Slide 22: Thank you
Alleima 22 Thank you alleima.com
Slide 23: Disclaimer
Alleima 23 Disclaimer This presentation contains “forward - looking” statements that reflect the company’s current expectations. Although the company believes that the expectations reflected in such forward - looking statements are reasonable, no assurance can be given that such expectations prove t