CAG Group AB (CAG) Q1 2026 Earnings Call Transcript

CAG

CAG Group Q1, 2026 We accelerate digital innovation for Leading technology . Lasting impact

people .

CAG

Key Take -Aways • Peter Strömberg, new CEO per May 7 • Acquisition of Clara Financial Consulting April 1 • Three balanced segments: Defence , Banking & Finance , System Development

• Frame agreement with FMV and FM ( through NESP), 3+4 years

• Q2 and Q4: + 1 working day vs 2025

Consistent Growth and Profitability CAGR 10% Total Revenue, MSEK

Adjusted 894

872

EBITA, % and MSEK

800

653 489

488

533

33,0

39,8

39,7

395 8,0 %

2017

2018

2019

2020

2021

2022

2023

2024

2025

450

20%

EMPLOYEES

RECURRING REVENUE

82,2

73,1

849

2017

8,1%

8,1%

2018

2019

44,7

9,1%

52,2

8,4 %

8,0 %

2020

2021

2022

75,0

74,6

8,6 %

8,8 %

2024

2025

9,2 %

2023

50%

60

DIVIDEND POLICY (AFTER -TAX PROFIT)

EXCELLENT eNPS INDEX

January - March 2026 • Revenue 216.1 (230.4) MSEK

, - 6.2%, excl subcontractors Half attributable to discontinued subsidiary in Q1 2025

• Adj EBITA margin 8.3% (9.9), adj EBITA 18.0 (22.8) MSEK • Cash flow from operations 16.7 (14.5) MSEK • After -tax profit 12.0 (13.5) MSEK • Profit per share 1.68 (1.88) SEK • Avg no of employees 389 (429), at end of period 390 (429) • Dividend of SEK 4.30 (4.10),

yield approx. 4 %

–5.1%.

CAG

A Stronger Banking & Finance Segment • Banking & Finance with focus on Asset Management • 2025 revenue 102 MSEK, EBITA

margin 22%, 40

employees

• Leading partner to

SimCorp in the Nordics (SCD)

• Customers : public and private asset managers • Total consideration 123.5 MSEK: • Initial payment 63.75 MSEK cash • CAG shares , 21.25 MSEK • Earn -out max 38.5 MSEK. Three subject to profitability criteria

yearly tranches

New Assignments

and Frame Agreements, Q1

• FMV and FM

via NESP, systems engineering/life cycle management for the Swedish Armed Forces' technical systems. Valid 3 + 4 years . Estimated annual volume 140 MSEK

• Defence : FMV, Saab, BAE Systems Hägglunds • Banking & Finance : Finansinspektionen, Swedbank Försäkring och Swedbank Hypotek

• IT Service Operations:

Major insurance company , educational services

customer

• Other : Teracom, NCC, Atlas Copco

Focused Customer Segments Industry & Infrastructure 4%

Other 9%

Defence Industry 9%

Retail & Services 12% Defence Agencies 29%

Banking & Finance 21%

Other Public Sector 16%

(figures per Q1 2026)

•

~300 active customers

•

Defence segment, 3 8 (35) percent of revenue

•

Largest customer , 21 (20) percent of revenue

•

Recurring

•

10 largest customers , 49 percent of revenue

revenue , >20 percent

Public sector

45%

Private

sector

55%

percent

of total

revenue

Solid Customer Base

Financial Position Enables Financial Position (KSEK)

March 31, 2026

M&A

March 31, 2025

New debt : 50 MSEK Cash at end - of - period

128 008

110 643

Net cash (+) / Net

debt (- )

98 204

62 340

Net Debt */Equity: ~ -0.3

Net cash (+) / Net leasing

debt (- ) exclusive of

123 342

87 309

Net Debt */EBITDA: ~ -1.3

Equity

349 884

332 449

Total Assets

550 900

564 463

63,5%

58,9%

Equity Ratio (%)

Share mandate of 10 % of outstanding shares

• Excl leasing ; Annual EBITDA

CAG

Key Take -Aways • Acquisition of Clara Financial Consulting April 1 • Three balanced segments: Defence , Banking & Finance , System Development

• Frame agreements with FMV and FM ( through NESP)

• Q2 and Q4: + 1 working day vs 2025 • Peter Strömberg, new CEO per May 7

CAG

Peter Strömberg, CEO per May 7 • M. Sc. Business & IT, University of Stockholm • Swedish Marines ( Kustjägarskolan

)

• Nasdaq/OMX Technology/OM, VP Market Technology Solutions

• RSA, Head of IT Operations & Service Management

• Avanza Bank, CIO, CPTO • Foxway , CDO • Board member in various tech start

• CAG Group, Board member since 2020

-ups/scale -ups

CAG

A Final Word… Thank You !

CAG

Thank You ! Questions ? Åsa Landén Ericsson, CEO CAG Group

CAG

2026 -04 -28