<a id="bm-comp-bb2447af-e94c-4b16-82ee-050026ae7d77" name="bm-comp-bb2447af-e94c-4b16-82ee-050026ae7d77" class="BMCustomAnchor"></a><table><tr><td bm-component-id="bb2447af-e94c-4b16-82ee-050026ae7d77" style="vertical-align: top; width:100.000000%;"><ul><li>Sales 0% vs cons (2% organic growth), adj. EBITA +1% vs cons</li><li>North America and Europe better, Other markets (southeast Asia) weaker</li><li>FY guidance unchanged, estimates +1-3%, share +2-4% on good mix</li></ul></td></tr></table><a id="bm-comp-301cb6d4-3075-454e-b7e2-c90ae9640db4" name="bm-comp-301cb6d4-3075-454e-b7e2-c90ae9640db4" class="BMCustomAnchor"></a><table><tr><td bm-component-id="301cb6d4-3075-454e-b7e2-c90ae9640db4" style="vertical-align: top; width:100.000000%;"><h3 class="bm-h3">Q1 details</h3><p>Sales SEK 602m (2% vs ABG 590m, 0% vs cons 601m), adj. EBITA 62m (-2% vs ABG 63m, 1% vs cons 61m), adj. EBITA margin 10.3% (ABG 10.7%, cons 10.1%). Adj. EBITA -3% y-o-y (ABG -1%, cons -4%). Organic growth 2% (ABG 5%, cons 1%).</p><h3 class="bm-h3">North American recovery as planned</h3><p>Positive organic growth in both North America (4%) and Europe (17%), while negative in Other markets (-7%). EBITA beats in North America (+12% vs cons) and Europe (+54% vs cons), see strengthening client demand in North America among energy, healthcare and AI companies. Other markets miss vs cons related to Southeast Asia, but grew double-digit in Middle East. Good mix in returning North America to growth again. Unchanged guidance of “higher EBITA in 2026 vs 2025” as expected (cons +13% y-o-y), and says that actions taken in Other markets will show effects in H2.</p><h3 class="bm-h3">Unchanged guidance, small positive estimate changes</h3><p>We expect consensus to make small changes to 2026 EBITA due to the in-line report and unchanged guidance (+1-3% likely), while the mix is positive with North America and Europe better than expected, which should support the share today (+2-4%). Conf call CET 8.00.</p></td></tr></table><a id="bm-comp-d96801a1-2504-4cd3-85e8-42a1324197bf" name="bm-comp-d96801a1-2504-4cd3-85e8-42a1324197bf" class="BMCustomAnchor"></a><table><tr><td bm-component-id="d96801a1-2504-4cd3-85e8-42a1324197bf" style="vertical-align: top; width:100.000000%;"><table id="bm-img-94c3e7a7-462c-41ac-9f3c-529992fd5f78" class="bm-img-table xslt-img-empty xslt-img-include"><tr><td class="xslt-img-caption">Deviation</td></tr><tr><td><img bm-img-encrypt="94c3e7a7-462c-41ac-9f3c-529992fd5f78" bm-img-original-height="1087" bm-img-original-width="837" bm-img-svg="image:image_upload/96415_4a348727-5d3f-42ff-a1ce-fbcf67c3a77b.svg" bm-img-width-hint="76.75%" id="bm-id-94c3e7a7-462c-41ac-9f3c-529992fd5f78" src="https://abgsc.bluematrix.com/images/image_upload/96415_4a348727-5d3f-42ff-a1ce-fbcf67c3a77b_558.png" svg="/nas/web/clients/abgsc/images/image_upload/96415_4a348727-5d3f-42ff-a1ce-fbcf67c3a77b.svg" width="558" alt="" title="" /></td></tr><tr><td class="xslt-img-source">Source: ABG Sundal Collier, FactSet, company data</td></tr></table></td></tr></table>