VBG Group AB (LTS:0GXK)

Q1 2026 VBG Group AB (publ) Earnings Call Transcript

Apr 27, 2026 / 08:30AM GMT

Release Date Price: kr335.75 (-3.38%)

Transcript

Key Points

Positve

VBG Group AB (FRA:KU4) reported a stable quarter with a 2% increase in revenue compared to Q1 2025, and a 5.3% increase when adjusted for currency and acquired volume.
All three divisions of the company experienced organic growth across major geographic areas: Europe, North America, and the rest of the world.
The Mobile Thermal Solutions segment saw a significant 24% growth in the side-by-side segment.
The Truck and Trailer Equipment division experienced a 24% growth, supported by increased volumes from truck suppliers in Europe.
The company maintained a solid EBITA margin of 12.7% despite currency headwinds, and operational cash flow reached SEK92 million.

Negative

The company faced a negative currency effect of SEK122 million on the operating result.
The EBITA margin declined from 13.1% in Q1 2025 to 12.7% in Q1 2026.
Mobile Thermal Solutions experienced a 4.6% decrease in sales, affected by FX headwinds and increased raw material costs.
Restructuring costs of SEK2.1 million were incurred within Mobile Thermal Solutions, impacting profitability.
The bus side of Mobile Thermal Solutions saw a slowdown, particularly in the electrified school bus segment, affecting revenue and results.

Operator

Welcome to VBG Group Q1 report 2026 presentation. (Operator Instructions)

Now I will hand the conference over to the speakers, CEO, Anders Erken; and CFO, Fredrik Jigneus. Please go ahead.

Anders Erken;publ;President

VBG Group AB;Chief Executive Officer, Director

()- -

So very welcome to the presentation of VBG Group quarter-one 2026. I will make a short summary of quarter-one, the highlights, and Fredrik will give you all the details, and then we will make a short summary in the end on the direction that we are -- .

So if we conclude the quarter one highlights, we can say that it was a stable quarter from our side. Revenue increased by 2% and compared to the first quarter 2025 and adjusted for currency and acquired volume, sales increased by 5.3%. I think it's important also that we understand the three divisions and our geographic spread and it's confirming and comfortable that all three divisions grow organically and also that we grow organically on the three main geographic areas: Europe, North

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