Q2 2026 Fasadgruppen Group AB (publ) Earnings Call Transcript
Key Points
- Organic order backlog increased by 6.6% year-over-year, driven by strong growth in Norway, Finland, and the UK.
- Organic growth improved significantly from -12% in Q1 to broadly flat in Q2, indicating the business is on the right path.
- Clearline, the UK business, delivered an impressive margin increase from 29% to 38%, showcasing disciplined execution.
- Cash conversion remains strong at roughly 100% on a rolling 12-month basis, demonstrating the business's ability to convert earnings into cash.
- The acquisition of Plurakene, a roofing specialist, deepens exposure to the structurally growing data center and industrial customer segments.
- Adjusted EBITA declined by 19% to roughly 108 million, driven by a weak performance in the Nordic contracting business, particularly in Norway.
- The Total Solutions segment's margin fell sharply to 3.3% from 6.6% year-over-year, highlighting significant profitability pressure.
- Net sales decreased by 1.8% in total, with Clearline's revenue down 9% due to ongoing delays from the Building Safety Regulator (BSR).
- Operating cash flow dropped to 52 million from 181 million last year, impacted by working capital build-up due to a late and rapid start to the season.
- The Danish order backlog took a hit in recent months, and the company is closely monitoring its recovery.
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Good morning, everyone, and welcome to Fasal Juppen's presentation of the second quarter 2026.
My name is Magnus Bumbe, acting CFO, and with me here in the room, we have our CEO, Martin Jokosan.
So, Martin, will you.
Please walk us through the report. And after the report, we will open up for some questions. So with that being said, Martin, please go ahead.
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Thank you, Magnus. And a very warm welcome and a good morning for me as well.
And let's move to the first slide directly.
And let me give you a quarter here in short.
By our own standards, the earnings were weak, but a weak quarter and a weak business, I would say, are two different things, and we will show that today
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