Half Year 2026 Relais Group Oyj Earnings Call Transcript

Aug 13, 2026 / 07:00 AM GMT

Release Date Price: €14.55 (+3.19%)

Transcript

Key Points

Positve

Relais Group PLC (OHEL:RELAIS) reported a strong 33% net sales growth in Q2 2026, including a 4% organic growth rate, which was above market growth.
The company achieved record cash flow from operations in the first half of 2026, with a nearly 100% cash conversion rate in Q2.
The Products and Solutions business area continued to perform well, with 112% top-line growth and 103% EBITDA improvement, driven by acquisitions and strong performance from Strans Group.
The Commercial Vehicle Services segment showed a 14% increase in EBITDA, with notable margin improvements in Swedish operations, indicating that previous strategic actions are paying off.
Relais Group PLC (OHEL:RELAIS) successfully acquired Tershine in July 2026, a leading brand in vehicle care in Sweden, which is expected to support international growth and enhance the group's portfolio.
The company's focus on working capital efficiency led to a significant decline in net working capital relative to sales, with inventory turnover improving to 4.3 and net working capital turnover increasing to 4.5.

Negative

Adjusted EBITDA margin declined to 7.3% in Q2 2026 from 9.1% in the prior year, impacted by a EUR1.2 million swing in expected credit loss provisions.
The Technical Wholesale business area saw a 17% decline in adjusted EBITDA, partly due to increased price competition in the Finnish market and growth investments in new locations.
Organic growth in the Commercial Vehicle Services segment was slightly negative, impacted by the relocation of the Raskone workshop and lower sales at a Swedish workshop.
The company incurred EUR1.9 million in items affecting comparability, including a non-cash charge of EUR0.9 million from discontinuing two central IT development projects.
Basic earnings per share turned negative at EUR0.09 per share in Q2 2026, compared to a positive EUR0.08 per share last year, due to increased amortization of acquisition-related intangibles and hybrid bond interest.
The ramp-up of new locations in Technical Wholesale is expected to take 6-12 months to reach full volume, initially weighing on margins and profitability.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

RELAIS.HE - Relais Group Oyj
Half Year 2026 Relais Group Oyj Earnings Call
Aug 13, 2026 / 07:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning, everyone, and very welcome to Release Group's second quarter 2026 financial presentation. We are live from our studio here in Helsinki this summer morning with the lovely sunny weather in Helsinki.

Today, we have myself, Christian Gebauer, the Group's CEO and with me, the interim CFO, Sebastian Zeppenen.

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Unidentified_2 [2]
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Good morning.

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Unidentified_1 [3]
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