Hexatronic Group — Interim / Quarterly Report 2026

Apr 29, 2026

Q1 Interim report 202 6

Continued organic growth in Data Center and Harsh Environment, with Data Center now being the largest EBITA contributor in Hexatronic

• Net sales of SEK 1, 698 million (1,882), an organic decline of 2 percent.

• Adjusted EBITA amounted to SEK 1 46 million ( 184), corresponding to a margin of 8.6 percent ( 9.8). Margin sequentially higher than Q4 2025 after 5 quarters of decline . 1

• Continued strong performance in Data Center, now biggest contributor to group Adjusted EBITA with SEK 73 million.

• Strong organic growth in Harsh Environment of 9 percent, adjusted EBITA margin somewhat muted due to unfavourable product mix.

• Fiber Solutions declined 11 percent organically driven by Europe while US market reported organic growth. Adjusted EBITA margin of 6.2 percent was a sequential improvement after 5 quarters of decline.

• Profit for the period amounted to SEK 92 million ( 86).

• Adjusted leverage amounted to 2.2x based on annualized adjusted EBITDA.¹

• Cash flow from operating activities amounted to SEK 29 million ( -50 ).

• Initial p erformance improvement program finalized .

• Hexatronic announced the acquisition of JOWO Systemtechnik AG in Germany .

Events after the end of the quarter

• Hexatronic closed the JOWO Systemtechnik AG acquisition .

Net sales, SEK m
------------------	--	--	--

Net sales, SEK m Organic growth +% Adjusted EBITA margin % 1

Figures for the first quarter 202 6

Key figure s

	2026	2025		25/26	2025
SEK m	Q1	Q1	∆%	R12	Full-year
Net sales	1,698	1,882	-10%	7,335	7,519
Adjusted EBITA¹	146	184	-21%	593	632
Adjusted EBITA margin¹	8.6%	9.8%		8.1%	8.4%
EBITA	146	184	-21%	296	334
EBITA margin	8.6%	9.8%		4.0%	4.4%
Operating profit (EBIT)	123	155	-21%	195	226
Profit for the period	92	86	6%	-10	-16
Earnings per share after dilution, SEK	0.45	0.42	6%	-0.04	-0.07
Cash flow from operating activities	29	-50	n.a.	663	584
Adjusted leverage, (x)¹	2.2	1.9		2.2	1.9
Leverage, (x)²	2.6	1.9		2.6	2.2

1Definitions and calculations of alternative performance measures are provided on pages 26-28.

2 Net debt to EBITDA pro forma, excluding IFRS16, R12.

Amounts in millions of Swedish kronor are based on whole kronor, and percentages are calculated using rounding to two decimal places.

Comments from the CEO

Continued organic growth in Data Center and Harsh Environment, with Data Center now being the largest EBITA contributor in Hexatronic

In Q1 2026, w e saw resilient organic growth for Harsh Environment and Data Center while Fiber Solutions continues to be challenged by weaker market conditions , mainly in Europe . Net sales for the group amoun ted to SEK 1,698 million, a decrease by 10 percent of which 9 percentage points were driven by FX headwinds . Adjusted EBITA amounted to SEK 146 million, corresponding to a margin of 8.6 percent.

Data Center is now the largest contributor to group adjusted EBITA. This reflects the business area 's strong growth and ma rgins , which have resulted in it becoming the largest contributor in absolute earnings terms. Harsh Environment continues to see strong organic growth while margins were muted on the back of an unfavourable product mix. Fiber Solutions continues to experience a challenging European market; however, we are starting to see the expected improvement in North America with organic growth in the important US market during the quarter.

Continued staunch performance by Data Center

Data Center continued its rapid growth with net sales of SEK 434 million, corresponding to an organic growth of 20 percent. Market activity continues to be strong, particularly in the US. We expect this favourable trend to continue and see a high level of activity and prospects overall. The adjusted EBITA margin in the quarter was 16.8 percent, which is sequentially higher than Q4 202 5, but a slight decline compared to Q1 2025 since we continue to make investmen ts into organic growth initiatives.

Organic growth within Harsh Environment

Harsh Environment delivered strong net sales of SEK 283 million, with an organic growth of 9 percent and an adjusted EBITA margin of 8.5 percent. The strong organic top -line performance was driven by both dynamic cables and connectivity solutions. Adjusted EBITA margin was lower than Q1 2025 , mostly due to unfavourable product mix which was exacerbated by timing effects lingering from the US government shutdown that happened in 2025.

We are truly excited to welcome JOWO Systemtechnik AG into the Hexatronic Group, starting April 1. JOWO is a German manufacturer and distributor of connectors and related products serving customers primarily within the defense sector. This acquisition supports our plans to grow the connectivity solutions segment and provides us with complementary technology as well as expanded access to key customer segments.

Restructuring program concluding in Fiber Solutions

Fiber Solutions continued to navigate a challenging market environment, consistent with recent quarters. Net sales amounted to SEK 982 million, corresponding to an organic decline of 11 percent. The weaker performance was primarily driven by softer demand in Europe, where an unusually cold winter added to a slow start to the year. At the same time, we saw gradually increasing

momentum in the US and a progressively stronger quarter that resulted in positive organic growth in this market. Compared to Q4 2025, we saw muted submarine cable net sales in this quarter due to timing of shipments . However, we have a strong order book for 2026 .

During the quarter, we finalized the initial performance improvement program announced in Q3 2025 . These cost savings were a key reason why we saw a sequentially improved EBITA margin of 6.2 percent. In fact, we realized most of these cost savings slightly ahead of original plan, positively impacting the quarter. The a djusted EBITA thus amounted to SEK 61 million, same as in Q4 2025 where we had higher sales on the back of large shipments of submarine cable .

Solid cash flow and leverage

As expected, interest -bearing net debt, excluding IFRS 16, increased slightly to SEK 1,672 million from SEK 1,582 million at the end of 2025, resulting in an adjusted leverage of 2.2x from 1.9x. This was driven mainly by negative FX effects and a comparison with a stronger EBITDA in Q4 2025 . We expect leverage to increase slightly during Q2 2026 as we are paying an earnout from a previous acquisition.

Our operating cash flow in the quarter was modestly positive at SEK 29 million with a cash conversion of 26 percent. This is in line with the typical seasonality pattern and also reflects higher accounts receivables due to a strong end to the quarter.

Outlook

The macro environment has undoubtedly become more difficult to predict. Recent developments have caused volatility in input costs and availability of mainly resin and fibe r, both of which have seen significant price increases . While these cost movements did not have a material impact in the quarter , they will play a growing role in months to come . We are responding with price increases , obviously with an ambition to fully compensate higher input costs with pricing actions.

We also expect continued currency headwinds from a strengthened SEK affecting net sales , albeit with less impact than what we have seen in the last few quarters. This will , however , have limited impact on EBITA due to our localization strategy.

In Data Center, we ex pect the strong growth to continue and margins to slightly improve in Q2 2026 . Our order book is strong, and customer activity remains at a high level with no signs of slowing down. W e have a robust M&A pipeline of attractive targets with whom we are in active dialogue.

For Fiber Solutions, we expect the challenging FTTH market in Europe to persist, with the market continuing to focus on shifting from building "homes passed" to connecting new subscribers. Conditions in North America are now validating our anticipated gradual improvement and are thus expected to result in a

continued positive organic growth in Q2 2026 . The demand for submarine cables remains strong and we have a rather full order book for the remainder of 2026 with main shipments scheduled for Q3 2026. As noted, the cost improvements from restructuring were largely completed in Q1 and are expected to continue at a similar level in quarters to come.

For Harsh Environment, long -term growth prospects remain favourable as energy and defen se sectors continue to expand. In the short term, we may see some further headwinds from the 2025 US Government shutdown in Q2 2026 , after which margins are expected to recover to levels in line with quarters seen previously . We are also actively looking for M&A targets, primarily within connectivity solutions.

The order book at the end of Q1 2026 for the group was in line with the previous quarter and amounted to around 2.5 months of net sales.

In summary, we continue the year with strong positions in our key growth areas and action plans for addressing external challenges. While the geopolitical environment remains uncertain, we are confident in our ability to manage short -term challenges throug h disciplined execution, an improved cost base and close customer relationships.

With the strategic shift towards Data Center and Harsh Environment again demonstrating progress and Fiber Solutions showing signs of profit stabilization, we are well positioned to deliver long -term value.

Rikard Fröberg President and CEO

Net sales and growth

First quarter January 1 – March 31 , 202 6

The Group's net sales in th e first quarter decreased by 10 percent to SEK 1, 698 million (1,882 ). Organically, sales decreased by 2 percent in the quarter as strong organic growth within Data Center and Harsh Environment could not fully offset t he weaker performance in Fiber Solutions . Growth from acquisitions amounted to 2 percent and is attributable to Communication Zone . Currency effects during the quarter amounted to -9 percent , with all currencies in the Group having a negative impact, but primarily due to a weaker USD, GBP , EUR and KRW .

During the period, net sales in Fiber Solutions amounted to SEK 982 million ( 1,234), corresponding to 58 percent (66 ) of the Group's total net sales, which represents negative growth of -20 percent compared to the corresponding quarter last year. Net s ales in Harsh Environment decreased by 1percent to SEK 283 million ( 28 6) in the quarter , albeit with 9 percent organic growth , corresponding to 17 percent (1 5) of the Group's total net sales. Data Center reported net sales of SEK 434 million ( 362 ), which represents growth of 20 percent compared with the corresponding quarter last year, and accounting for 25 percent (1 9) of total net sales.

Overall, for the Group, sales in Europe decreased by 19 percent compared to last year, driven by weak performance in Fiber Solutions . In North America, strong growth in Data Center could not fully offset the negative performance in Fiber Solutions, resulting in a decline of 1 percent. In APAC, sales in the first quarter increased by 17 percent, driven by Fiber Solutions.

Analysis of change in net sales

	Q1		Q1
SEK m	2026	(%)	2025	(%)
Previous year 's period	1,882		1,782
Organic growth	- 42	-2%	19	1%
Acquisitions and structural changes	31	2%	68	4%
Exchange-rate effects	- 172	-9%	13	1%
Current period	1,698	-10%	1,882	6%

Net sales (SEK m) and growth per quarter

Sales by business area Q 1

Sales by geographical area Q 1

EBITA

First quarter January 1 – March 31 , 202 6

Adjusted EBITA amounted to SEK 146 million (184), corresponding to a margin of 8.6 percent (9.8). The EBITA margin was negatively impacted by lower sales in Fiber Solutions compared to the same period last year, resulting in reduced capacity utilization in our factories and a different product mix in Harsh Environment and Data Center. EBITA amounted to SEK 146 million (184 ), corresponding to a margin of 8.6 percent (9.8).

Financial items

First quarter January 1 – March 31 , 202 6

Net financial items for the quarter amounted to SEK -14 million ( -31), of which net interest amounted to SEK -28 million ( -38 ), realized and unrealized exchange rate differences to SEK -1 million ( 2) and other financial items to SEK 14 million ( 5). Other financial items include revaluation of additional purchase price and acquisition option of SEK 17 million ( 7), attributable to both currency effects and changed assumptions.

Profit for the period

First quarter January 1 – March 31 , 202 6

Profit after tax for the f irst quarter amounted to SEK 92 million (86), and earnings per share after dilution amounted to SEK 0.45 (0.42). Tax for the quarter amounted to SEK -17 million (-37), resulting in an average effective tax rate of 15.7 percent (30.3). The tax rate for the quarter was positively impacted by approximately 15 percentage points as a result of the assessment of deferred t ax assets, supported by available deferred tax liabilities in the same juris diction.

Adjusted EBITA (SEK m) and adjusted EBITA margin (%)

Adjusted EBITA by business area Q 1

Earnings per share (SEK)

Cash flow and investments

First quarter January 1 – March 31 , 202 6

Cash flow from operating activities during the quarter amounted to SEK 29 million ( -50 ) including a change in working capital of SEK -83 million ( -192). Working capital negatively impacted cash flow during the quarter, mainly due to higher accounts receivable, partly offset by increased accounts payable and lower inventories.

During the quarter, cash flow from the Group's investing activities amounted to SEK -56 million (-17). Investments in intangible and tangible fixed assets amounted to SEK -22 million ( -14), primarily driven by maintenance investments . Cash flow effect related to business combinations after deduction of acquired cash and cash equivalents amounted to SEK 0 million (-3). The change in other financial assets relates to an acquisition ‑related receivable, which was settled as part of the acquisition price upon completion after the end of the reporting period.

During the quarter, cash flow from the Group's financing activities amounted to SEK ‑28 million (‑34). The change during the quarter is mainly explained by amortization of lease liabilities of SEK ‑32 million ( ‑34), while borrowings of SEK 202 million (–) and amortization of loans of SEK ‑199 million (‑1) relate to refinancing of existing loans.

Total cash flow for the quarter amounted to SEK -55 million ( -101).

Operating cash flow (SEK m)

Invest ments (SEK m)

Fiber Solutions

Fiber optic cables, ducts, and network products for broadband deployment.

Net sales and profit

Net sales decreased by 20 percent to SEK 982 million in the first quarter due to weaker demand for FTTH equipment , primarily microduct and price pressure exacerbated by overcapacity in the industry . Organically, sales decreased by 11 percent in the quarter. Sales in Europe decreased by 31 percent. In North America, sales were 18 percent lower, albeit with the US market growing organically in the quarter . In the APAC region, sales increased by 28 percent in the quarte r, driven by strong growth in all primary markets . Adjusted EBITA amounted to SEK 61 million, correspondin g to an adjusted EBITA margin of 6.2 percent . A decrease compared to last year due to price pressure in the market .

	2026	2025		25/26	2025
SEK m	Q1	Q1	∆%	R12	Full-year
Net sales	982	1,234	-20%	4,618	4,870
Adjusted EBITA	61	105	-42%	267	310
Adjusted EBITA %	6.2%	8.5%		5.8%	6.4%
EBITDA	112	167	-33%	378	433
EBITDA %	11.4%	13.5%		8.2%	8.9%
EBITA	61	105	n.a	-18	26
EBITA %	6.2%	8.5%		-0.4%	0.5%
Investments	9	4		46	40
– % of net sales	0.9%	0.3%		1.0%	0.8%
Sales by GeographyQ1	Net sales and adjusted EBITA margin

Harsh Environment

Advanced, dynamic cables and solutions for connectivity in challenging environments.

Net sales and profit

Net sales decreased by 1percent to SEK 283 million in the first quarter . Organic growth was 9 perce nt and driven by both dynamic cables and connectivity solutions. As previously communicated, the companies within Harsh Environment have an international customer base and a majority of revenues from larger projects, which means that sales per geography can fluctuate between quarters. Adjusted EBITA amounted to SEK 24 million, corresponding to an adjusted EBITA margin of 8.5 percent. A decline compared to previous year due to different product mix and timing of projects.

During the quarter, the acquisition of JOWO Systemtechnik AG was announced and closed on April 1, 2026. The company will be consolidated from April 1, 2026.

	2026	2025		25/26	2025
SEK m	Q1	Q1	∆%	R12	Full-year
Net sales	283	286	-1%	1,238	1,241
Adjusted EBITA	24	29	-18%	134	139
Adjusted EBITA %	8.5%	10.3%		10.8%	11.2%
EBITDA	34	39	-12%	173	178
EBITDA %	12.1%	13.6%		14.0%	14.3%
EBITA	24	29	-18%	132	137
EBITA %	8.5%	10.3%		10.6%	11.0%
Investments	10	9		47	47
– % of net sales	3.6%	3.3%		3.8%	3.8%

Europe, 47% North America, 36%

Europe, 48% North America, 39%

2025	25/26	2025

Sales by Geography Q1 Net sales and adjusted EBITA margin

Data Center

Customized products and services for data center companies as well as adjacent services such as audio -visual installations and security and access solutions .

Net sales and profit

Net sales increased by 20 percent to SEK 434 million in the first quarter, including organic growth of 20 percent. Sales in Europe and North America account ed for 56 percent and 43 percent of the business area's net sales with North America showing strong growth. Adjusted EBITA amounted to SEK 73 million, corresponding to an adjusted EBITA margin of 1 6.8 percent. The decline in adjusted EBITA margin compared to last year was mainly driven by investments into organic growth initiatives and strengthening the organization. Sales by Geography Q1 Net sales and adjusted EBITA margin

	2026	2025		25/26	2025
SEK m	Q1	Q1	∆%	R12	Full-year
Net sales	434	362	20%	1,482	1,409
Adjusted EBITA	73	68	7%	257	252
Adjusted EBITA %	16.8%	18.8%		17.3%	17.9%
EBITDA	78	72	8%	275	269
EBITDA %	18.0%	20.0%		18.6%	19.1%
EBITA	73	68	7%	256	252
EBITA %	16.8%	18.8%		17.3%	17.8%
Investments	3	1		13	11
– % of net sales	0.7%	0.3%		0.9%	0.8%

Europe, 56% North America, 43%

APAC, 1%

Corporate/Elimination

Corporate functions/Elimination mainly refers to central functions such as corporate staff, as well as other non -core activities within the respective segments, including elimination of internal transactions between segments . Adjusted EBITA amounted to SEK ‑12 million (-18). The lower cost level compared with the previous year is mainly attributable to costs incurred in the prior year related to the change of CEO.

	2026	2025		25/26	2025
SEK m	Q1	Q1	∆%	R12	Full-year
Net sales	-1	0		-3	-1
Adjusted EBITA	-12	-18	-31%	-64	-70
Adjusted EBITA %	-	-		-	-
EBITDA	-12	-17	-32%	-71	-77
EBITDA %	-	-		-	-
EBITA	-12	-18	-31%	-74	-80
EBITA %	-	-		-	-
Investments	0	0		0	0
– % of net sales	-	-		-	-

Financial position

The Group's net debt, which corresponds to net debt excluding lease liabilities (IFRS 16), amounted to SEK 1, 672 million as of March 31, 202 6 compared to SEK 1,582 million as of December 31, 202 5. Leverage was 2.6x as of March 31, 2026, compared with 2.2x at year ‑end 2025. Adjusted leverage was 2.2x as of March 31, 2026, compared with 1.9x at year ‑end 2025.

Available funds as of March 31, 202 6, including unutilized credit facilities, amounted to SEK 1,725 million compared to available funds of SEK 1, 797 million as of December 31, 202 5.

Equity

Equity amounted to SEK 3,627 million on March 31, 202 6, corresponding to SEK 17.63 per outstanding share at the end of the reporting period before dilution, compared with equity of SEK 3,468 million on December 31, 202 5.

Employees

The number of employees in the whole group as of March 31, 202 6 was 1,937, compared to 2,011employees as of December 31, 202 5.

Parent company

The Parent Company's principal activity is the provision of Group ‑wide services. During the quarter, revenue amounted to SEK 38 million (37), while profit before tax was SEK −33 million (81). The Parent Company's short ‑term liabilities, which mainly comprise internal cash pool balances, are currently financed through the internal cash pool. Going forward, an increasing share of this funding is expected to be provided through dividends and group contributions.

Significant events

In the first quarter

Hexatronic continue d diversification; announce d acquisition to expand its Harsh Environment business area

Hexatronic signed a binding agreement to acquire 100 percent of the shares of JOWO Systemtechnik AG, a German manufacturer and distributor of connectors and related products serving customers primarily within the defense sector as well as in the energy and broader industrial sectors.

Through the acquisition, Hexatronic strengthen ed its connectivity offering within the Harsh Environment business area. JOWO adds both complementary technology and deeper access to key customer segments, particularly in the European defense market. The acquisition supports Hexatronic's strategy to grow H arsh Environment a nd further diversify the Group's end ‑market exposure.

Hexatronic streamline d Fiber Solutions Management

Hexatronic simplif ied the leadership structure of the Fiber Solutions business area to consist of four commercial regions (Europe, North America, Asia and ANZ*) as well as global functions for Product & Innovation and Sourcing & Supply Chain.

As a result of these changes, Christian Priess decided to leave the company by the end of February 2026. Christian Priess was Head of Fiber Solutions EMEA and have been part of the Global Executive team since 2019. Magnus Angermund, previously deputy head of Fiber Solutions EMEA assume d the full leadership role for Region Europe and remain ed on the

1,937 Number of employees

Global Executive Team. As a consequence, the Global Executive Team reduce d in size from eight to seven individuals.

*Australia & New Zealand

After the end of the quarter

Hexatronic completed the acquisition of JOWO Systemtechnik AG.

Other information

Seasonal variations

Hexatronic's sales of products and services within Fiber Solutions are affected by seasonal variations, which means that sales during the first and fourth quarters of the year are usually slightly lower than during the summer months when weather conditions are more favorable for groundwork. Sales in a harsh environment are unaffected by seasonal variations, while Data Center often has slightly higher activity during the first half of the year and slightly lower during the second half.

Significant risks and uncertainties

Hexatronic's operations, like all business activities, are associated with risks of various kinds. Identifying and evaluating risks is a natural and integral part of the business to control, limit, and proactively manage prioritized risks. The Group's ability to ident ify and prevent risks minimizes the risk of unpredictable events harming the company. Risk management aims not necessarily to eliminate risk, but rather to secure our business objectives with a balanced risk portfolio.

Risks related to business development and long -term strategic planning, as well as the Group's work with sustainability issues and related risks, are managed by Group Management and ultimately prioritized by the Board of Directors.

Hexatronic has divided identified risks into market -related, operational, regulatory, and financial risks. Sustainability risks are integral to all risk areas and are described in more detail in the Group's sustainability report.

A more detailed description of the Group's risks and risk management is provided in Hexatronic Group's Annual Report and Sustainability Report 202 5, on pages 32-35.

Current geopolitical uncertainty, uncertainty about trade barriers and tariffs, and a generally uncertain macroeconomic situation affect Hexatronic. The Group's strategy of local manufacturing helps to reduce these risks.

The expansion of fiber optic infrastructure is supported by private players and government investment programs, such as the Gigabit Strategy in Germany, the Project Gigabit in the UK, and the BEAD program in the US. Similar programs exist in most countries . Should the willingness to invest decrease, for example, due to increased costs and/or reduced government investment programs, this could affect Hexatronic's business and thus future revenues. In recent years, Hexatronic has diversified its business by ex panding into new geographic markets, market segments, and applications, and therefore has limited exposure to developments in individual markets.

Transactions with related parties

There were no significant transactions with related parties during the period.

Review

This interim report has not been subject to review by the company's auditor.

Göteborg, April 29, 2026

Rikard Fröberg CEO and President Hexatronic Group AB (publ)

Consolidated income statement

		2026	2025	2025
SEK m	Note	Q1	Q1	Full-year
Revenue
Net sales	2	1,698	1,882	7,519
Other operating income		21	28	71
Total		1,719	1,909	7,590
Operating expenses
Raw materials and goods for resale		-996	-1,099	-4,625
Other external costs		-191	-218	-847
Personnel costs		-310	-319	-1,285
Other operating expenses		-10	-12	-29
Depreciation and impairment of tangible assets		-67	-77	-469
Earnings before amortisation of intangible assets (EBITA)		146	184	334
Amortisation of intangible assets		-23	-30	-108
Operating profit (EBIT)		123	155	226
Result from financial items
Financial items, net		-14	-31	-105
Result after financial items		109	124	121
Income taxes		-17	-37	-137
Profit for the period		92	86	-16
Attributable to:
Parent Company shareholders		92	87	-14
Non-controlling interest		0	-1	-2
Profit for the period		92	86	-16
Earnings per share
Earnings per share before dilution (SEK)		0.45	0.42	-0.07
Earnings per share after dilution (SEK)		0.45	0.42	-0.07

Consolidated statement of comprehensive income

	2026	2025	2025
SEK m	Q1	Q1	Full-year
Profit for the period	92	86	-16
Items which can later be recovered in the income statement
Translation differences	89	-361	-745
Hedging of net investments	-28	91	206
Tax attributable to items that can be returned to the income statement	6	-19	-43
Other comprehensive income for the period	66	-289	-581
Comprehensive income for the period	158	-203	-597
Attributable to:
Parent Company shareholders	158	-201	-593
Non-controlling interest	0	-2	4
Comprehensive income for the period	158	-203	-597

Consolidated balance sheet

SEK m	Note	2026-03-31	2025-03-31	2025-12-31
Assets
Non current assets
Intangible fixed assets		2,856	2,845	2,835
Property plant and equipment		1,956	2,315	1,908
Financial assets		53	55	37
Total non-current assets		4,864	5,214	4,780
Current assets
Inventories		1,230	1,488	1,202
Accounts receivable		1,309	1,263	1,184
Other receivables		68	11	18
Prepaid expenses and accrued income		248	210	211
Cash and cash equivalents		603	499	661
Total current assets		3,458	3,471	3,277
TOTAL ASSETS		8,322	8,685	8,057
Equity		3,627	3,855	3,468
Non-current liabilities
Liabilities to credit institutions	7	2,212	2,274	2,181
Deferred tax		243	253	236
Non-current lease liabilities		349	386	330
Other non-current liabilities	8	185	133	181
Total non-current liabilities		2,989	3,046	2,928
Current liabilities
Liabilities to credit institutions	7	63	149	62
Current lease liabilities		119	125	119
Accounts payable		757	750	696
Provisions		59	26	69
Current tax liabilities		1	49	17
Other liabilities	8	269	307	294
Accrued expenses and deferred income		438	380	405
Total current liabilities		1,707	1,784	1,661
TOTAL EQUITY, PROVISION AND LIABILITIES		8,322	8,685	8,057

Consolidated statement of changes in equity

					Result
		Other			broughtforward,
		capital			including		Non
	Share	contri		Hedging	result for		controlling	Total
KSEK	Capital	butions	Reserves	reserve	the period	Total	interests	equity
Balance brough forward as of 1 January,2025	2	1,027	428	-58	2,624	4,022	35	4,057
Profit for the period	-	-	-	-	-14	-14	-2	-16
Other comprehensive income	-	-	-743	164	-	-579	-2	-581
Total comprehensive income	0	0	-743	164	-14	-593	4	-597
Employee stock option programme	-	4	-	-	-	4	-	4
Share-based remuneration	0	-	-	-	3	3	-	3
Sale of shares linked to incentive programme	-	-	-	-	1	1	-	1
Total transactions with shareholders,reported directly in equity	0	4	0	0	4	8	0	8
Balance carried forward as of 31 December,2025	2	1,031	-316	106	2,614	3,437	31	3,468
Balance brough forward as of 1 January,2026	2	1,031	-316	106	2,614	3,437	31	3,468
Profit for the period	-	-	-	-	92	92	0	92
Other comprehensive income	-	-	88	-22	-	66	0	66
Total comprehensive income	0	0	88	-22	92	158	0	158
Employee stock option programme	-	1	-	-	-	1	-	1
Share-based remuneration	-	-	-	-	0	0	-	0
Total transactions with shareholders,reported directly in equity	0	1	0	0	0	0	-	0
Balance carried forward as of March 31, 2026	2	1,032	-227	83	2,705	3,595	31	3,627

Consolidated statement of cash flow

		2026	2025	2025
SEK m	Note	Q1	Q1	Full-year
Operating profit		123	155	226
Items not affecting cash flow	6	55	69	673
Interest received		2	3	13
Interest paid		-27	-36	-125
Income tax paid		-41	-48	-188
Cash flow from operating activities before changes in working capital		112	142	599
Increase (-)/decrease (+) in inventories		13	-127	24
Increase (-)/decrease (+) in accounts receivable		-95	-204	-166
Increase (-)/decrease (+) in operating receivables		-33	-24	-22
Increase (+)/decrease (-) in accounts payable		47	97	32
Increase (+)/decrease (-) in operating liabilities		-16	66	118
Cash flow from changes in working capital		-83	-192	-14
Cash flow from operating activities		29	-50	584
Investing activities
Acquisition of tangible and intangible assets		-22	-14	-98
Acquisition of subsidiaries after deduction of cash and cash equivalents		-	-3	-174
Change in financial assets		-34	-	-
Cash flow from investing activities		-56	-17	-272
Financing activities
Borrowings		202	-	8
Amortisation of loans		-199	-1	-74
Amortisation of lease liabilities		-32	-34	-133
Sale of shares		-	-	1
New shares related to employee stock option programme		-	-	-
Cash flow from financing activities		-28	-34	-199
Cash flow for the period		-55	-101	114
Cash and cash equivalents at the start of the period		661	633	633
Exchange rate difference in cash and cash equivalents		-3	-33	-86
Cash and cash equivalents at the end of the period		603	499	661

Key metric for the Group

	2026	2025	25/26	2025
SEK m	Q1	Q1	R12	Full-year
Growth in net sales	-10%	6%	-5%	-1%
EBITA margin	8.6%	9.8%	4.0%	4.4%
Adjusted EBITA margin	8.6%	9.8%	8.1%	8.4%
EBITA margin, 12 months rolling	4.0%	10.7%	4.0%	4.4%
Adjusted EBITA margin, 12 months rolling	8.1%	10.7%	8.1%	8.4%
Operating margin	7.2%	8.2%	2.7%	3.0%
Equity asset ratio	43.6%	44.4%	43.6%	43.0%
Earnings per share before dilution (SEK)	0.45	0.42	-0.04	-0.07
Earnings per share after dilution (SEK)	0.45	0.42	-0.04	-0.07
Net sales per employee (SEK thousand)	880	951	3,691	3,762
Result per employee (SEK thousand)	48	44	-3	-7
Quick asset ratio	131%	111%	131%	125%
Cash flows from operating activities	29	- 50	663	584
Leverage, x	2.6	1.9	2.6	2.2
Adjusted leverage, x	2.2	1.9	2.2	1.9
Average number of employees	1,930	1,980	1,986	1,999
Number of shares at period end before dilution	205,637,228	205,472,710	205,637,228	205,637,228
Average number of shares before dilution	205,637,228	205,472,710	205,596,099	205,554,969
Average number of shares after dilution	205,637,228	205,472,710	205,596,100	205,554,971

For definition of key metric, see the section Definition alternative key metrics.

The key metrics presented are deemed essential to describing the Group's development as they both constitute the Group's fina ncial objectives (growth in net sales and EBITA margin) and are the key metrics by which the Group is governed. Several key metrics are considered relevant to investors, such as earnings per share and the number of shares. Other key metrics are presented in ord er to provide different perspectives on how the Group is developing and are therefore deemed to be of benefit to the reader.

Parent Company income statement

	2026	2025	2025
SEK m	Q1	Q1	Full-year
Revenue
Net sales	38	37	139
Total	38	37	139
Operating expenses
Other external costs	-29	-33	-122
Personnel costs	-21	-19	-79
Other operating expenses	0	0	0
Depreciation of tangible assets	0	0	0
Earnings before amortisation of intangible assets (EBITA)	-11	-16	-63
Amortisation of intangible assets	-	-1	-2
Operating profit (EBIT)	-11	-16	-64
Result from financial items
Financial items, net	-22	97	425
Result after financial items	-33	81	361
Appropriations	-	-	81
Result before tax	-33	81	442
Income taxes	-	-9	-19
Net result for the period	-33	72	423

Total comprehensive income is the same as profit for the period in the parent company since there is nothing accounted for as other comprehensive income.

Parent Company balance sheet

SEK m	2026-03-31	2025-03-31	2025-12-31
Assets
Intangible assets	-	2	0
Tangible assets	0	0	0
Financial assets	6 514	6 513	6 493
Total non-current assets	6 515	6 515	6 493
Current receivables
Receivables from Group companies	254	318	319
Current tax receivables	2	2	3
Other receivables	37	0	1
Prepaid expenses and accrued income	11	12	10
Total current receivables	304	332	333
Cash and bank balances	66	34	73
Total current assets	371	366	406
TOTAL ASSETS	6 885	6 881	6 899
Equity	3 649	3 320	3 681
Untaxed reserves	24	29	24
Non-current liabilities
Liabilities to credit institutions	2 208	2 267	2 176
Other non-current liabilities	50	87	51
Total non-current liabilities	2 258	2 354	2 227
Current liabilities
Liabilities to credit institutions	63	149	62
Accounts payable	13	10	17
Provisions	1	2	4
Liabilities to Group companies	669	779	651
Other liabilities	182	209	200
Accrued expenses and deferred income	26	29	33
Total current liabilities	954	1 177	966
TOTAL EQUITY, PROVISIONS AND LIABILITIES	6 885	6 881	6 899

Note 1. Accounting principles

The consolidated financial statements for Hexatronic Group ("Hexatronic") have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the EU, RFR 1 Supplementary Accounting Rules for Groups and the Swedish Annual Accounts Act. This Year -end report has been prepared in accordance with IAS 34 Interim Reporting; the Swedish Annual Accounts Act and RFR 1 Supplementary Accounting Rules for Groups.

The Parent Company's financial statements have been prepared in accordance with the Swedish Annual Accounts Act and the

Swedish Financial Reporting Board's recommendation RFR 2 Accounting for Legal Entities. The application of RFR 2 means that in its interim report for the legal entity, the Parent Company applies all IFRS, and statements adopted by the EU as far as possible within the framework of the Swedish Annual Accounts Act and the Swedish Insurance Act and regarding the relationship between accounting and taxation.

For full accounting policies, see the Annual Report for 202 5.

Note 2. Revenue

Jan-Mar 2026		North
Geographical markets	Europe	America	APAC	Total
Fiber Solutions	462	354	166	982
Harsh Environment	136	110	37	283
Data Center	243	187	4	434
Corporate/Elimination	-1	0	-0	-1
Total	841	651	206	1,698
Category
Goods	673	549	203	1,424
Services	168	102	4	274
Total	841	651	206	1,698
Jan-Mar 2025		North
Geographical markets	Europe	America	APAC	Total
Fiber Solutions	670	434	130	1,234
Harsh Environment	125	117	44	286
Data Center	249	110	3	362
Corporate/Elimination	0	0	0	0
Total	1,043	661	177	1,882
Category
Goods	904	578	174	1,657
Services	139	83	3	225
Total	1,043	661	177	1,882

Note 3. Segment overview

The Group's reportable operating segments have been identified from a management perspective. The segment information is based on internal reporting to the chief operating decision maker, which at Hexatronic has been equated with Group Management.

The Group´s operations are managed and reported by three business segments:

Fiber Solutions is the Group 's business in fiber optic cables, ducts and network products for FTTH connectivity, 5G, transport networks, local city networks and submarine cables. Customers are mainly telecom operators, network owners, and distributors.

Harsh Environment provides advanced cables and solutions adapted to withstand connectivity in the most challenging

environments. Customers are mainly companies in the energy sector (offshore), marine technology, defense, and aerospace. The business area also includes the business of advanced fiber optic sensor systems.

Data Center offers a broad range of specialist services for the data center market, as well as adjacent services such as audio -visual installations and security and access solutions. Hexatronic designs infrastructure and cable solutions, plans installations and provide support and operational services — all to ensure that installations are carried out safely and efficiently.

In addition to the mentioned segments, central functions are reported under Corporate/Elimination. This mainly includes Group staff, central departments, and other activities outside the core

operations of each segment, including the elimination of internal transactions between segments.

Consolidation of the business segments is carried out in accordance with the same accounting principles applied to the Group as a whole. Transactions between business segments are conducted on market terms.

The segments are managed and reported based on key financial metrics: net sales, EBITDA, EBITA, and investments (acquisitions of tangible and intangible fixed assets), which are presented below.

Summary of key performance indicators for the Group's segments:

%%%Net salesFull-yearQ1Q1Fiber Solutions9821,2344,870Harsh Environment2832861,241Data Center4343621,409Corporate/Elimination-10-1Total net sales1,6981,8827,519EBITDAFiber Solutions11211.4%16713.5%4338.9%Harsh Environment3412.1%3913.6%17814.3%Data Center7818.0%7220.0%26919.1%Corporate/Elimination-12-17-77Total EBITDA21312.5%26113.9%80410.7%Non-recurring items (EBITDA)134--Adjusted EBITDAFiber Solutions11211.4%16713.5%11.4%554Harsh Environment3412.1%3913.6%18014.5%Data Center7818.0%7220.0%27019.2%Corporate/Elimination-12-17-66Total adjusted EBITDA21312.5%26113.9%93712.5%Depreciation and impairment of tangible assets-67-77-469EBITAFiber Solutions616.2%1058.5%260.5%Harsh Environment8.5%10.3%11.0%2429137Data Center7316.8%6818.8%25217.8%Corporate/Elimination-12-18-80Total EBITA1468.6%1849.8%3344.4%Non-recurring items (EBITA)298--Adjusted EBITAFiber Solutions616.2%1058.5%3106.4%Harsh Environment8.5%10.3%11.2%2429139Data Center7316.8%6818.8%25217.9%Corporate/Elimination-12-18-70Total adjusted EBITA1468.6%1849.8%6328.4%Amortisation of intangible assets-23-30-108Financial items, net-14-31-105Result after financial items109124121Investments (Capex)Fiber Solutions9440Harsh Environment10947Data Center3111Corporate/Elimination000Total investments (Capex)221498	2026	2025	2025

Growth and share by segment

	2026	Allocation	Growth %	2025	Allocation	Growth %
SEK m	Q1	%		Q1	%
Fiber Solutions	982	58%	-20%	1,234	66%	-2%
Harsh Environment	283	17%	-1%	286	15%	5%
Data Center	434	25%	20%	362	19%	41%
Other	-1	0%	-	0	0%	-
Total	1,698	100%	-10%	1,882	100%	6%

Sales growth per segment, adjusted for currency effects and acquisitions

	2026	2025
Yearly growth (%)	Q1	Q1
Fiber Solutions	-11%	-2%
Harsh Environment	9%	3%
Data Center	20%	13%
Other	-	-
Total Group	-2%	1%

Growth and share by geography

	2026	Allocation	Growth %	2025	Allocation	Growth %
SEK m	Q1	%		Q1	%
Europe	841	50%	-19%	1,043	56%	10%
North America	651	38%	-1%	661	35%	-4%
APAC	206	12%	17%	177	9%	27%
Total	1,698	100%	-10%	1,882	100%	6%

Note 4. Business acquisitions

Acquisitions 2026

No acquisitions were completed during the quarter. After the end of the reporting period, on 1 April 2026, the Group complete d the acquisition of 100 percent of the shares in JOWO Systemtechnik AG, a Germany -based manufacturer of connectors serving custome rs primarily in the defense, energy and industrial sectors. The acquisition will be consolidated from the acquisition date and i s therefore not included in this interim report.

Acquisitions 2025

On November 25, 2025, the Group acquired Communication Zone through Hexatronic Data Center Group Inc. The purchase price consisted of cash of USD 21.8 million, a contingent consideration calculated at present value of USD 2.6 million, and 6.4 per cent of th e shares in Hexatronic Data Center Group Inc. issued to the sellers. The issued shares are subject to a call/put option and are therefore classified as a financial liability.

At the time of acquisition, there were also two minor existing minority shareholders in Hexatronic Data Center Group Inc., wh ose holdings are also subject to call/put options. As all minority interests are considered likely to be redeemed, the acquisition is reported without any non-controlling interest. Both the contingent consideration and the redeemable minority interests are measured at fair value on a n ongoing basis, with changes reported in the income statement.

The acquisition analysis below summarizes the preliminary purchase price for the acquisitions and the fair value of acquired assets and assumed liabilities reported on the acquisition date.

Preliminary purchase price as of November 25, 2025
Cash and cash equivalents	208
Liability relating to redeemable minority (put option)	52
Contingent purchase price (not paid)	25
Total purchase price	285
Reported amounts of identifiable acquired assets and assumed liabilities
Cash and cash equivalents	44
Property plant and equipment	3
Customer relations	45
Other intangible assets	2
Accounts receivable	23
Other liabilities	-19
Deferred tax	-9
Total identifiable net assets	89
Non-controlling interests	-
Goodwill	196

Acquisition -related costs of SEK 2 million are included in other external costs in the consolidated statement of comprehensive income for the 2025 financial year. Total cash flow, excluding acquisition -related costs, attributable to the business combinatio n amounted to SEK 164 million. According to the agreement on conditional purchase price, the Group shall pay a maximum of USD 3.5 million.

The fair value of accounts receivable amounts to SEK 23 million. No doubtful accounts receivable were identified at the time of acquisition.

Net sales included in the Group's income statement for the 2025 financial year since the acquisition date amounted to SEK 12 million. The acquired companies have contributed an EBITDA of SEK 2 million to the Group since the acquisition date.

If the acquired companies had also been included in the Group during the period January 1 to December 31, the Group's net sal es for the full year 2025 would have increased by a total of SEK 184 million and EBITDA by SEK 39 million.

Note 5. Incentive programs

Employee stock option programs active at the time of this publication are:

Outstanding warrant	Number of	Corresponding	Proportion of
programme	warrantes	number of shares	total shares	Exercise price	Expiration period
Warrant programme 2023/2026	316,000	316,000	0.2%	96.20	15 May - 15 Jun 2026
Warrant programme 2024/2027	330,500	330,500	0.2%	55.30	13 May - 13 Jun 2027
Warrant programme 2025/2028	635,000	635,000	0.3%	34.60	13 May - 13 Jun 2028
Total	1,281,500	1,281,500	0.6%

In addition to above warrant programs, there are three ongoing long -term, performance -based incentive plans (LTIP 2023, 2024 and 2025) for 42 senior executives and other key employees in the Group who are resident in Sweden. The participants have bought 300,774 savings shares in total.

Under the LTIP, for each acquired Hexatronic share (savings share), participants can receive 2 –6 shares in Hexatronic (performance shares) free of charge, assuming achievement of certain performance targets. To qualify for performance shares, participants must acquire and retain a number of Hexatronic shares for the whole of the three -year vesting period and must, with some exceptions, remain in employment during the same period. In addition to the above conditions, performance shares also require certain p erformance targets to be met, linked to the development of the earnings per share after dilution, the Group's growth, EBITA margin and certain sust ainability targets.

The targets relate to the 202 3-2027 financial years. Hexatronic has judged that all the above conditions are non -market -related conditions under IFRS 2.

Note 6. Items not affecting cash flow

	2026	2025	2025
(SEK m)	Q1	Q1	Full-year
Depreciation, amortisation and impairment	90	106	577
Revaluation of incentive programmes	2	0	7
Work in progress, accrued but not invoiced	-18	-27	-7
Change obsolescence reserve inventory	-12	3	50
Other provisions	-7	-9	39
Exchange rate differences	-1	-5	2
Other	2	0	5
Total	55	69	673

Note 7. Liabilities to credit institutions

			Cash flow		Items not affecting cash flow
SEK m	2025-12-31	Borrowings	Amortisation ofloan	Acquistions	Reclassification	Change inexchangerate	Cost offinancing	2026-03-31
Non-current liabilities tocredit institutions	2,181	203	-	-199	-	27	0	2,212
Current liabilities to creditinstitutions	62	-	-199	199	-	1	-	63
Total	2,243	203	-199	-	-	28	0	2,275

		Cash flow		Items not affecting cash flow
SEK m	2024-12-31	Borrowings	Amortisation ofloan	Acquistions	Reclassification	Change inexchangerate	Cost offinancing	2025-03-31
Non-current liabilities tocredit institutions	2,361	-	-	-	-	-88	1	2,274
Current liabilities to creditinstitutions	152	-	-1	-	-	-3	-	149
Total	2,513	-	-1	-	-	-91	1	2,422

Note 8. Financial liabilities valued at fair value via the income statement

		Cash flow
SEK m	2025-12-31	Payment	Acquisition	Reclassification	Translationdifferences	Revaluation	2026-03-31
Additional purchase price/ Acquistion option	378	-	-	-	4	-17	365
		Cash flow			Items not affecting cash flow
SEK m	2024-12-31	Payment	Acquisition	Reclassification	Translationdifferences	Revaluation	2025-03-31

SEK m	2024-12-31	Payment	on	ification	differences	Revaluation	2025-03-31
Additional purchase price/ Acquistion option	352	-3	-	-	-3	-7	340

Quarterly overview

Segm ent reporting by quarter

	2024			2025				2026
	Q2	Q3	Q4	Q1	Q2	Q3	Q4	Q1
Fiber Solutions
Net sales	1,457	1,430	1,299	1,234	1,230	1,236	1,169	982
Adjusted EBITA	169	180	135	105	78	66	61	61
Adjusted EBITA %	11.6%	12.6%	10.4%	8.5%	6.4%	5.4%	5.2%	6.2%
EBITDA	230	238	195	167	138	24	104	112
EBITDA %	15.8%	16.7%	15.0%	13.5%	11.2%	2.0%	8.9%	11.4%
EBITA	169	180	135	105	78	-124	-34	61
EBITA %	11.6%	12.6%	10.4%	8.5%	6.4%	-10.0%	-2.9%	6.2%
Investments	86	68	72	2	16	10	10	9
Harsh Environment
Net sales	319	291	296	286	331	314	310	283
Adjusted EBITA	38	34	24	29	40	35	35	24
Adjusted EBITA %	12.1%	11.6%	8.0%	10.3%	12.0%	11.1%	11.4%	8.5%
EBITDA	48	43	34	39	49	44	46	34
EBITDA %	15.0%	14.8%	11.4%	13.6%	14.7%	14.2%	14.7%	12.1%
EBITA	38	34	24	29	40	33	35	24
EBITA %	12.1%	11.6%	8.0%	10.3%	12.0%	10.4%	11.5%	8.5%
Investments	6	9	12	9	9	13	15	10
Data Center
Net sales	250	233	233	362	344	334	369	434
Adjusted EBITA	41	34	30	68	72	56	56	73
Adjusted EBITA %	16.5%	14.6%	12.7%	18.8%	20.8%	16.9%	15.3%	16.8%
EBITDA	46	39	34	72	76	60	61	78
EBITDA %	18.2%	16.5%	14.7%	20.0%	22.0%	18.0%	16.6%	18.0%
EBITA	41	34	30	68	72	56	56	73
EBITA %	16.5%	14.6%	12.7%	18.8%	20.8%	16.7%	15.3%	16.8%
Investments	3	0	1	1	4	4	2	3
Corporate/Elimination
Net sales	-2	-3	-3	0	0	-0	0	-1
Adjusted EBITA	-26	-17	-6	-18	-20	-11	-20	-12
Adjusted EBITA %	-	-	-	-	-	-	-	-
EBITDA	-25	-16	-6	-17	-19	-20	-20	-12
EBITDA %	-	-	-	-	-	-	-	-
EBITA	-26	-17	-6	-18	-20	-21	-21	-12
EBITA %	-	-	-	-	-	-	-	-
Investments	0	0	0	0	0	0	0	0
TotaltNet sales
Adjusted EBITA	2,024222	1,951230	1,824182	1,882184	1,907169	1,883146	1,848133	1,698146
Adjusted EBITA %	11.0%	11.8%	10.0%	9.8%	8.9%	7.7%	7.2%	8.6%
EBITDA	298	304	258	261	243	109	191	213
EBITDA %	14.7%	15.6%	14.1%	13.9%	12.7%	5.8%	10.3%	12.5%
EBITA	222	230	182	184	169	-56	37	146
EBITA %	11.0%	11.8%	10.0%	9.8%	8.9%	-3.0%	2.0%	8.6%
Investments	95	78	85	14	30	27	27	22

Reconciliation between IFRS and key metrics used

In this interim report, Hexatronic presents certain financial parameters that are not defined in IFRS known as alternative key metrics. The Group believes that these parameters provide valuable supplementary information for investors as they facilitate an evaluation of the company's results and position. Since not all

companies calculate financial parameters in the same way these metrics are not always comparable with those used by other companies. Investors should see the financial parameters as a compleme nt to rather than a replacement for financial reporting in accordance with IFRS.

	2026	2025	2025
Organic growth, SEK m, %	Q1	Q1	Full-year
Net sales	1,698	1,882	7,519
Exchange-rate effects	172	-13	402
Acquisition driven	-31	-68	-128
Comparable net sales	1,839	1,801	7,794
Net sales corresponding period previous year	1,882	1,782	7,581
Organic growth	-42	19	213
Organic growth %	-2%	1%	3%

	2026	2025	2025
Annual growth, rolling 12 months, %	Q1	Q1	Full-year
Net sales rolling 12 months	7,335	7,681	7,519
Annual growth, rolling 12 months	-5%	-2%	-1%

Quick asset ratio, %	2026-03-31	2025-03-31	2025-12-31
Current assets	3,458	3,471	3,277
Inventories	-1,230	-1,488	-1,202
Current assets - inventories	2,228	1,983	2,075
Current liabilities	1,707	1,784	1,661
Quick asset ratio	131%	111%	125%

Core working capital, SEK m	2026-03-31	2025-03-31	2025-12-31
Inventories	1,230	1,488	1,202
Accounts receivable	1,309	1,263	1,184
Accounts payable	-757	-750	-696
Core working capital	1,782	2,001	1,691
Net debt, SEK m	2026-03-31	2025-03-31	2025-12-31
Non-current liabilities to credit institutions	2,212	2,274	2,181
Current liabilities to credit institutions	63	149	62
Cash and cash equivalents	-603	-499	-661

	2026	2025	2025
EBITDA and EBITDA (proforma) R12, SEK m	Q1	Q1	Full-year
Operating profit (EBIT), R12	195	697	226
Amortisation of intangible fixed assets, R12	101	122	108
EBITA, R12	296	819	334
Depreciation of tangible fixed assets, R12	459	301	469
EBITDA, R12	755	1,120	804
EBITDA (proforma), R12	774	1,124	841
Leasing effect (IFRS 16) on EBITDA, R12	-131	-135	-133
EBITDA exclusive IFRS16 (proforma), R12	643	989	707
	2026	2025	2025
Leverage	Q1	Q1	Full-year
Net debt	1,672	1,923	1,582
EBITDA exclusive IFRS16 (proforma), R12	643	989	707
Net debt / EBITDA exclusive IFRS 16 (proforma), R12	2.6	1.9	2.2
	2026	2025	2025
Adjusted EBITDA and adjusted EBITA	Q1	Q1	Full-year
EBITA, R12	296	819	334
Non-recurring items	298	-	298
Adjusted EBITA, R12	593	819	632
EBITDA, R12	755	1,120	804
Non-recurring items	134	-	134
Adjusted EBITDA, R12	889	1,120	937
Acquired EBITDA before closing (R12)	19	3	37
EBITDA (proforma), R12	908	1,124	974
Leasing effect (IFRS 16) on EBITDA, R12	-131	-135	-133
Adjusted EBITDA exclusive IFRS16 (proforma), R12	777	989	841
	2026	2025	2025
Adjusted leverage	Q1	Q1	Full-year
Net debt	1,672	1,923	1,582
Adjusted EBITDA exclusive IFRS16 (proforma), R12	777	989	841
Net debt / adjusted EBITDA exclusive IFRS 16 (proforma), R12	2.2	1.9	1.9

Definition of alternative key metrics

Acquisition -driven growth

Net sales from acquired businesses during the following twelve months after the acquisition date.

Adjusted EBIT

Operating profit, revenue minus all costs related to operations, excluding non-recurring items, net financial items and tax.

Adjusted EBIT margin

Adjusted EBIT as a percentage of net sales.

Adjusted EBITA

Operating profit, excluding non -recurring items, before amortization of intangible assets.

Adjusted EBITA margin

Adjusted EBITA as a percentage of net sales.

Adjusted EBITDA (pro forma), R12

Operating profit, excluding non -recurring items, before depreciation, amortization, impairment and pro forma adjusted acquired EBITDA (before takeover) for the last twelve months (R12).

Adjusted leverage

Net debt to adjusted EBITDA pro forma, excluding IFRS16, R12.

Annual growth

Average annual growth is calculated as the Group's total net sales during the period compared with the corresponding period last year.

Average number of outstanding shares

Weighted average of the number of outstanding shares during the period.

Average number of outstanding shares after dilution

Weighted average of the number of shares outstanding during the period plus a weighted number of shares that would be added if all potential shares were converted into shares.

Core -working capital

Calculated as inventory plus accounts receivable minus accounts payable.

Earnings per share before dilution

Profit for the period attributable to parent company shareholders divided by the average number of outstanding shares before dilution.

Earnings per share after dilution

Profit for the period attributable to parent company shareholders divided by the average number of outstanding shares after dilution.

EBITDA

Operating profit before amortization and impairment of intangible assets.

EBITDA (proforma), R12

Operating profit before depreciation and amortization plus pro forma acquired EBITDA, before closing, for the last twelve months.

EBITA

Operating profit before amortization of intangible non -current assets.

EBITA margin

EBITA as a percentage of net sales.

EBIT

Operating profit. Revenue minus all costs related to operations, but excluding net financial items and income tax.

EBIT margin

Operating profit as a percentage of net sales.

Equity asset ratio

Total equity as a percentage of total assets.

Equity per share

Total equity is divided by the number of shares outstanding.

Gross profit Net sales minus costs for raw materials and goods for resale.

Gross profit margin

Gross profit as a percentage of net sales.

Investments (Capex)

Acquisitions of tangible and intangible assets.

Leverage

Net debt to EBITDA (pro forma), excluding IFRS16, R12.

Net debt

Interest -bearing liabilities, excluding lease liabilities, minus cash and cash equivalents.

Non -recurring items

Non -recurring items affecting comparable results.

Number of employees

Number of employees at the end of the period.

Number of shares

Number of outstanding shares at the end of the period.

Organic growth

Organic growth is calculated as net sales adjusted for exchange rate effects and acquired businesses in relation to the previous year's net sales adjusted for acquired businesses.

Quick asset ratio

Calculated as current assets minus inventories divided by current liabilities.

Presentation

Hexatronic will present the interim report at a webcast conference call today, Wednesday , April 29 , 202 6, at 10.00 CE S T. CEO Rikard Fröberg, CFO Pernilla Lindén , Deputy CEO Martin Åberg and Head of Investor Relations Patrik Johannesson will participate.

Link to the webcast:

https://hexatronic -group.events.inderes.com/q1 -report - 2026/register

For registration and participation via the teleconference:

https://events.inderes.com/hexatronic -group/q1 -report - 2026/dial -in

Webcast and presentation materials will be available on the Hexatronic website.

Contacts

Patrik Johannesson, Head of I nvestor Relations +46 (0) 73 033 25 18

For more information, please visit https://www.hexatronic.com/en/investors

Calendar

May 12, 2026 Annual General Meeting 2026 Jul 15, 2026 Interim report January – June 2026 Oct 22, 2026 Interim report January – September 2026

This information is information that Hexatronic Group AB (publ ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, on April 29 , 202 6, at 07.00 CE S T.

Hexatronic Group AB (publ) Corp id. no. 556168 -6360 Sofierogatan 3a, S -412 51 Gothenburg , Sweden www.hexaronic.com