Q2 2026 Volati AB Earnings Call Transcript
Key Points
- Volati AB (FRA:VOG) reported strong cash flow, enabling continued acquisitions, with three acquisitions completed in 2026.
- The Communication platform showed strong EBITDA growth and is well-positioned for future acquisitions.
- Ettiketto Group demonstrated strong net sales development, driven by acquisitions and some organic growth.
- The company successfully finalized the separate listing of Salix Group, showcasing its ability to create value through platform development.
- Volati AB (FRA:VOG) maintained a net debt to adjusted EBITDA ratio of 2.9, slightly lower than the previous year, indicating strong financial management.
- The overall EBITDA development for the quarter was disappointing, with lower earnings in S:t Eriks Group and Tornum Group.
- Volati AB (FRA:VOG) is underperforming in terms of its growth target, requiring overachievement in future periods to meet long-term goals.
- S:t Eriks Group faced challenges in the construction and civil works markets, leading to significantly lower EBITDA compared to last year.
- Tornum Group experienced an 8% decrease in top-line sales due to low grain and pulp prices and geopolitical tensions affecting order intake.
- Ettiketto Group faced material shortages and cost increases, impacting margin development, although these issues are expected to be resolved.
Good morning, and welcome to today's presentation with Volati. With us presenting today, we have the CEO, Andreas Stenbäck; and CFO, Charlotta Nyberg. We'll open up for Q&A after the presentation. (Operator Instructions)
And with that said, please go ahead with your presentation.
Thank you very much, and thank you, everyone, for listening in this nice summer day in Stockholm and Sweden. I'm also very happy to have Charlotta today at my side. It's -- she's now finalized her first quarter as a CFO for Volati.
But let's get into the presentation. We start by looking at some highlights from the quarter. It's a mixed, but I would say, overall, a disappointing quarter when it comes to the EBITDA development. We have some highlights. We have Ettiketto performing more or less in line with expectations.
Communication, I would say, performing very well with a strong EBITDA growth and Corroventa also performing in line in, for them, a very small quarter. However, as you all can see, we
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