BTS Group AB (publ) Interim report January - June 2026

One more quarter of profit growth

April 1 – June 30, 2026

• Net sales amounted to MSEK 767 (721). Growth adjusted for currency effects was 9%, whereof all was organic.
• EBITA increased 11% to MSEK 94 (84).
• EBITA margin was 12.3 (11.7) %.
• Profit after tax amounted to MSEK –1 (39). Excluding change in provision of earn-out 2026, the profit after tax increased 29% to MSEK 51 (39).¹⁾
• Earnings per share amounted to SEK –0.06 (2.03). Excluding change in provision of earn-out 2026, earnings per share increased 30% to SEK 2.64 (2.03).¹⁾
  
  

January 1 – June 30, 2026

• Net sales amounted to MSEK 1,369 (1,368). Growth adjusted for currency effects was 7%, whereof 6% was organic.
• EBITA increased 9% to MSEK 156 (143).
• EBITA margin was 11.4 (10.5) %.
• Profit after tax amounted to MSEK 25 (65). Excluding change in provision of earn-out 2026, the profit after tax increased 19% to MSEK 77 (65).¹⁾
• Earnings per share amounted to SEK 1.36 (3.35). Excluding change in provision of earn-out 2026, earnings per share increased 21% to SEK 4.07 (3.35).¹⁾
  
  

“We continue to see AI drive demand for BTS’s core focus: the people side of change. CEOs are recognizing how different this moment is from digital transformations of the past and prioritizing the activities required to build an enduring, self-reliant Applied AI innovation culture and skillset.”

Jessica Skon, CEO of BTS Group AB

Upgraded outlook for 2026
We estimate that the result (EBITA) for 2026 will be significantly better than 2025, which deviates from the previous report when the result was expected to be better than 2025.

FINANCIAL SUMMARY

MSEK	Apr-Jun 2026	Apr-Jun 2025	Jan-Jun 2026	Jan-Jun 2025	Jul-Jun 2025/2026	Jan-Dec 2025
Net sales	767	721	1,369	1,368	2,705	2,703
Growth adjusted for currency effects	9%	7%	7%	5%	4%	3%
EBITA	94	84	156	143	287	274
EBITA margin	12,3%	11,7%	11,4%	10,5%	10,6%	10,2%
EBIT	77	65	122	106	216	200
EBIT margin	10,0%	9,0%	8,9%	7,7%	8,0%	7,4%
Profit after tax	-1	39	25	65	93²⁾	133²⁾
Profit after tax, excl. change in provision of earn-out	51¹⁾	39	77¹⁾	65	145¹⁾ ²⁾	133²⁾
Cash flow from operating activities	-62	-40	-64	-97	246	213
Earnings per share, SEK³⁾	-0,06	2,03	1,36	3,35	4,90	6,89
Earnings per share, excl. change in provision of earn-out, SEK³⁾	2,64¹⁾	2,03	4,07¹⁾	3,35	7,60¹⁾	6,89
Net debt (+)/net cash (-)	184	123	184	123	184	-46
Number of employees (EOP)	1,078	1,172	1,078	1,172	1,078	1,139

¹⁾ During the second quarter 2026, the earn-out provision related to the earlier acquisition of Boda 2023 was increased, impacting the net financial items negatively by MSEK 52. To enhance comparability, the 2026 profit before and after tax in this interim report is presented, including and excluding this adjustment.
²⁾ The changes in U.S. tax legislation in 2025 had a positive effect on reported income tax 2025 of MSEK 14 in BTS's operations in North America.
³⁾ Before and after dilution of shares.

For more information, please contact:
Rodney Alfvén
Head of investor relations
BTS Group AB
Rodney.Alfven@bts.com
+46 72 235 05 15

This information is information that BTS Group AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 06:30 CEST on August 14, 2026.

About BTS Group AB
BTS is a global professional services firm headquartered in Stockholm, Sweden. BTS has about 1,100 professionals in 35 offices located on six continents. BTS competes in both talent and HR consulting as well as the traditional consulting markets. BTS’s services support a broad range of client challenges including top-to-bottom and on-demand leadership development, talent selection and readiness, strategy creation and strategy implementation, as well as culture and broad-scale change. For 40 years, BTS has been focused on the people-side of change and on powering better performance using proprietary simulation, learning, coaching, and assessment methodologies. We partner with nearly 1,200 organizations, including over 40 of the world’s 100 largest global corporations.

BTS is a public company listed on the Nasdaq Stockholm exchange and trades under the symbol BTS B.

For more information, please visit www.bts.com. 

Attachment

• Interim report January 1 - June 30, 2026