Alligo Ab Class B · OMXSTO:ALLIGO_B
Alligo Ab Class B — Q3 2026 Earnings Presentation
33 slides from Alligo Ab Class B's earnings presentation, Oct 23, 2026
Slide 1: Interim Report Q3 2026
Interim Report Q3 2026 Interim Report Q3 2026 1 July – 30 September 1 July – 30 September Friday, Oct 23, 2026 Friday, Oct 23, 2026 1
Slide 2: Presenters
Presenters Samuel Alteborg Irene Wisenborn Bellander Group President & CEO CFO & Deputy CEO 2
Slide 3: Agenda
Agenda • This is Alligo • Highlights Q3 2026 • Update • Tools Finland • Growth initiatives – Sweden & Norway • Status Örebro logistic expansion • Financials • Summary and outlook • Q&A 3
Slide 4: This is Alligo
This This is is Alligo Alligo 4
Slide 5: Alligo – a leading player in workwear, personal protection, tools and supplies in the Nordic region
Alligo – a leading player in workwear, personal protection, tools and supplies in the Nordic region 9 924 2 491 237 MSEK Revenue Employees Stores Revenue Adj EBITA Revenue by geographic segment by geographic segment by brand category 38 19% 16% 18% 60 stores stores 15% 69% 139 stores 27% 54% 82% SE
Slide 6: An integrated Nordic business = 78% of sales
An integrated Nordic business = 78% of sales – Two strong concept brands in three markets • A scalable platform with clear synergies. Sales by channel • Shared functions (logistics, IT and ERP systems, legal structure, 2026 YTD pricing system and range). 4% • Supports flexibility and scalability. 41
Slide 7: Non-integrated companies = 22% of sales
Non-integrated companies = 22% of sales – Adding strategic value • Selected product and technology areas with strong specialist expertise. Non-integrated revenue • Operate stores under own brands 2026 YTD supporting differentiated customer by product and technology area offerings growth. 36% 28% • C
Slide 8: Acquisitions are an integral part of Alligo's growth strategy
Acquisitions are an integral part of Alligo’s growth strategy – Acquisitions totaling SEK 1.7 billion in revenue completed since Alligo's formation 2021 Number of acquisitions (year of closing) Acquired revenue in MSEK 1 (year of closing) 11 646 383 6 6 284 271 4 2 2 70 59 2021 2022 2023 2024 2025 2
Slide 9: Highlights Q3
Highlights Q3 This is Alligo 9
Slide 10: Q3 2026 – Business conditions
Q3 2026 – Business conditions Macroeconomic Market Proactive Delivery factors situation management capacity • Industrial activity • Demand • Strong sales focus. • Good and stable remains mixed across remained cautious: in all countries. • Continued cost sectors and markets. - Sweden – slow market, w
Slide 11: Q3 2026 in brief
Q3 2026 in brief – Organic growth and improved profitability in Finland Revenue Organic growth Operating cash flow Continued strong +4.9% growth in Finland. Slower market 1.1% Acquisition- driven growth of 1.5% 45 conditions in Sweden MSEK (148) and Norway. Adjusted EBITA Adjusted EBITA margin Gross
Slide 12: Q3 2026 – Highlights
Q3 2026 – Highlights Sales Operations Strategic initiatives • Strong improvement in • Focus on assortment • Logistics centre expansion Finland – higher volumes and pricing to strengthen in Örebro progressing and efficiency measures margins according to plan • Increased sales activity • Profitability
Slide 13: Update
Update This is Alligo • Tools Finland • Growth initiatives – Sweden & Norway • Status Örebro logistic expansion 13
Slide 14: Tools Finland
Tools Finland – Efficiency program continues to strengthen growth and profitability • Good organic growth (+12%) and a clear improvement in profit. Q3 2026: • Recovery in manufacturing and defence Adjusted EBITA margin supported growth, alongside positive development in store sales (SME’s). 6.0% (3.
Slide 15: Sweden and Norway growth initiatives
Sweden Norway – Ongoing commercial initiatives supporting growth – Efficiency program to improve profitability underway • Short-term actions • Short-term actions - Tailored industry specific offerings - Ongoing cost adjustment measures - Pricing initiatives - Tailored industry specific offerings - I
Slide 16: Örebro as a Nordic logistics hub
Örebro as a Nordic logistics hub – Planned expansion to support long-term growth • Future-proofing capacity for continued growth: Status expansion project ̶ Reducing reliance on external warehousing ̶ Strengthening long-term operational scalability • Q4 2026 Detailed design and • Expanding existing
Slide 17: Financials
Financials This is Alligo 17
Slide 18: Improved profitability driven by Finland
Improved profitability driven by Finland – Organic growth and cost savings Revenues and EBITA Highlights Q3 2026 2026 2025 2026 2025 • Revenue increased by 4.9% MSEK Jul-Sep ∆, % Jul-Sep Jan-Sep ∆, % Jan-Sep ̶ Organic growth of 1,1% ̶ Acquisition-driven growth of 1.5% Revenue 2,295 4.9 2,189 7,264 5
Slide 19: Sweden, Norway, Finland results
Sweden Norway Finland MSEK MSEK MSEK 14,0 800 8,0 600 8,0 1 600 12,0 7,0 10,0 600 6,0 6,0 1 200 400 8,0 5,0 800 400 4,0 4,0 6,0 3,0 200 4,0 200 2,0 2,0 400 2,0 1,0 0 0,0 0 0,0 0 0,0 Q3 2024 Q3 2025 Q3 2026 Q3 2024 Q3 2025 Q3 2026 Q3 2024 Q3 2025 Q3 2026 Revenue, MSEK Non-integrated Adj.EBITA% Revenu
Slide 20: Weaker operating cash flow in Q3, but improved YTD
Weaker operating cash flow in Q3, but improved YTD – Increased EBITDA, but offset by increased working capital Cash flow Highlights Q3 2026 2025 MSEK 2026 ∆ 2025 2026 ∆ Jan- • Seasonally the weakest quarter Jul-Sep Jul-Sep Jan-Sep Sep • Weaker cash flow from operating activities Operating activities
Slide 21: Strong financial position
Strong financial position – Continue to invest in organic growth and M&A opportunities Overview of the financial position Highlights Q3 2026 30 Sep 30 Sep 31 Dec • Ratio of net operational liabilities MSEK 2026 2025 2025 to EBITDA (excl. IFRS 16) of 2.2 Non-current interest 2,942 3,291 3,156 ̶ Conti
Slide 22: Summary & outlook
Summary This is Alligo & outlook 22
Slide 23: Q3 2026 in summary
Q3 2026 in summary • Continued organic growth and improved results despite a somewhat cautious market. Q3 2026 • Finland delivered a strong Q3, driven by Revenue recovery across several customer segments and ongoing improvement initiatives. 2,295 MSEK (2,189) • Enhanced sales management and Adjusted
Slide 24: Outlook for Q4 and 2027
Outlook for Q4 and 2027 – Long-term profitable growth and customer relevance • Partly slow market environment, with gradual normalisation The refined strategy across markets. will make us even • Actions underway to strengthen more relevant to sales and profitability in Sweden and Norway. our custome
Slide 25: Q&A
Q&A This is Alligo 25
Slide 26: Appendix
Appendix This is Alligo 26
Slide 27: Q3 – Sustained share of own brands in the integrated business
Q3 – Sustained share of own brands in the integrated business Sweden Norway Finland* 9% (9) 6% (7) SALES BY CHANNEL SALES BY CHANNEL Industry store SALES BY CHANNEL Industry store 28% (25) 29% (27) Non-integrated 52% (55) 5% (3) 19% (20) Non-integrated companies In-store (SME) Non-integrated 39% (40
Slide 28: YTD 2026 – Increased share of own brands in the integrated business
YTD 2026 – Increased share of own brands in the integrated business Sweden Norway Finland* 9% (9) 6% (8) SALES BY CHANNEL SALES BY CHANNEL Industry store SALES BY CHANNEL Industry store 28% (26) 28% (27) Non-integrated 51% (53) 5% (2) 20% (20) Non-integrated companies In-store (SME) Non-integrated 4
Slide 29: Sweden, Norway, Finland YTD results
Sweden Norway Finland MSEK MSEK MSEK 2 500 6,0 1 750 6,0 5 000 12,0 1 500 2 000 5,0 5,0 4 000 10,0 1 250 4,0 4,0 8,0 1 500 1 000 3 000 3,0 3,0 6,0 750 2 000 1 000 4,0 2,0 500 2,0 1 000 2,0 500 1,0 1,0 250 0 0,0 0 0,0 0 0,0 YTD 2024 YTD 2025 YTD 2026 YTD 2024 YTD 2025 YTD 2026 YTD 2024 YTD 2025 YTD 2
Slide 30: Performance in 2026 in relation to financial targets
Performance in 2026 in relation to financial targets 30
Slide 31: Performance in 2026 in relation to sustainability targets
Performance in 2026 in relation to sustainability targets 31
Slide 32: Five reasons to invest in Alligo
Five reasons to invest in Alligo 1 2 3 4 5 Market Scalable Own brands Sustainable Leader in the growth and platform a increase and consolidation resilient foundation competitiveness long-term process on customer for continued and business the Nordic segments growth profitability model markets 32
Slide 33: Read more at alligo.com/en/report/q3-2026/
Read more at alligo.com/en/report/q3-2026/ [email protected]