Zengun Group AB (publ) Interim Report January – September 2026

“The summer saw a high level of activity across our Phase 2 projects, with several of our larger construction projects entering intensive phases during the quarter. Turnover for the quarter amounted to MSEK 725, while operating profit (EBITA) totalled MSEK 39.” Mick Salonen, President and CEO

Third quarter

•         Net turnover amounted to MSEK 725.3 (564.3)

•         EBITDA totalled MSEK 41.5 (39.4), corresponding to an EBITDA margin of 5.7% (7.0)

•         Operating profit (EBITA) totalled MSEK 39.0 (37.9), corresponding to an EBITA margin of 5.4% (6.7)

•         Earnings for the period amounted to MSEK 16.9 (19.9)

•         Operating cash flow was MSEK 15.4 (39.8)

•         Orders received totalled MSEK 925.3 (481.3)

•         The order book amounted to MSEK 3,392.0 (2,953.3)

January - September

•         Net turnover amounted to MSEK 2,271.5 (1,662.7)

•         EBITDA totalled MSEK 119.4 (109.7), corresponding to an EBITDA margin of 5.3% (6.6)

•         Operating profit (EBITA) totalled MSEK 113.3 (105.0), corresponding to an EBITA margin of 5.0% (6.3)

•         Earnings for the period amounted to MSEK 29.8 (54.5)

•         Operating cash flow amounted to an outflow of MSEK 38.6 (inflow: 35.9)

•         Orders received totalled MSEK 2,716.6 (1,517.1)

Statement by the CEO
The third quarter of the year was characterized by a continued high production rate and strong demand for our partnering contracting services. Thanks to our employees’ expertise and close cooperation with our clients, we have been able to operate efficiently and according to plan, despite complex projects and challenging commitments. Turnover for the quarter amounted to MSEK 725, while operating profit (EBITA) totalled MSEK 39.

Steady progress
The summer saw a high level of activity across our Phase 2 projects, with several of our larger construction projects entering intensive phases during the quarter. We continued the interior and exterior renovation of Wenner-Gren Center on behalf of Fabege and prepared for the dismantling of the church spire at Riddarholmen Church on behalf of the National Property Board of Sweden. At Medborgarplatsen, we completed Atrium Ljungberg’s Söderhallarna, which has now reopened following three years of extensive refurbishment and modernisation.

We also commenced production on the new Fryshuset – a major meeting place for young people in southern Stockholm, bringing together educational, sports, cultural and social activities. The aim is for the new building to open in time for the start of the 2028 school year.

A New Landmark
At Odenplan, one of Stockholm’s key transport and meeting hubs, we are currently carrying out the careful dismantling of the former Läkarhuset building, known as Spelbomskan 9. Following the initial phase of the project, Zengun and Skandia Fastigheter signed an agreement to continue their collaboration. The project involves replacing the former building with a new development designed to enhance the area by providing additional meeting places, attractive office spaces, retail and services. The new building will comprise a GFA of 14,500 square metres across 14 floors and will be certified in accordance with BREEAM Bespoke at the Excellent level, reflecting high ambitions in terms of reuse, environmental performance and climate impact. The order value amounts to approximately MSEK 700, and the project was registered in the order book in the third quarter.

Putting Safety First
In September, Locum organised Håll Nollan’s Safety Push at several locations, including Zengun’s L9 construction site in Solna. The event brought together employees and industry representatives to discuss safe construction sites. The new radiotherapy building, located in close proximity to the hospital grounds, is a complex construction project that places high demands on planning, collaboration and safety. At Zengun, we firmly believe that through partnering and the exchange of experience, we can create safe and efficient projects together.

Mick Salonen
President and CEO

For further information, please contact:
Mick Salonen, President & CEO, +46 (0) 70 569 66 73
Oskar Björklund, CFO, +46 (0) 79 072 84 57

This information is information that Zengun Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted through the agency of the above contacts for publication on 11 November 2026 at 8:00 a.m. (CET).

Driving projects drives Zengun. We operate in the Stockholm region, in close collaboration with customers and always with the project and people in focus. We help property owners improve their property portfolios in each project by offering know-how and skills as a collaboration and sustainability partner throughout the entire lifespan of the project. We build commercial properties, with a mix of select public-sector properties and residential projects. We take the long term into consideration for our employees, customers and surroundings, and are constantly developing to make each project a reference project. In 2025, Zengun had sales of approximately SEK 2.4 billion and approximately 150 employees. #zengunbyggerstaden