Ferronordic (FNM) Company presentation summary

Business overview and strategy

• International dealer group focused on construction equipment and trucks, operating in the US, Germany, and Kazakhstan, with scalable growth through organic expansion and acquisitions.

• US is the largest market, contributing 62% of revenue, followed by Germany (35%) and Kazakhstan (3%).

• Strategic priorities include aftermarket absorption, disciplined capital allocation, digital and AI-enabled operations, and geographic and business area expansion.

• Vision centers on being the leading service and sales company, supporting customer growth, and building on strong OEM partnerships.

Financial performance Q2 2026

• Revenue increased 43% to SEK 1,558m, with growth in all segments and a 54% rise in fixed currency.

• Operating profit improved to SEK 68m from -5m, with all three segments profitable; EBITDA nearly doubled to SEK 180m.

• Net profit reached SEK 45m, supported by lower finance costs and FX gains; net debt/EBITDA improved to 3.0x.

• Gross margin was 15.8%, slightly down due to a higher equipment share, but US margin improved.

• SG&A expenses decreased by 2% despite higher revenue, improving operational efficiency.

Segment highlights

• US: Sales up 53% in USD, driven by equipment (+89%), aftermarket (+22%), and rental (+15%); operating profit more than doubled.

• Germany: Truck deliveries up 52% in EUR, aftermarket sales up 9%, operating profit at SEK 8m; network expansion ongoing.

• Kazakhstan: Sales up 88% to SEK 49m, operating profit at SEK 3m, with continued opportunities in mining and road construction.