COMMENTS FROM THE CEO  
 
The first quarter of the year has been characterized by intensive change work within the Soltech Group. After the end of the quarter in April, I have joined as interim CEO and Pontus Andersson joined as interim CFO. It is with a clear and purposeful focus on creating stability, improving cash flow, strengthening profitability and establishing a long-term sustainable platform for future growth. 
 
My first couple of weeks as interim CEO has consisted of working systematically with all subsidiaries and businesses to continue to improve profitability. This includes both investments where we see potential and clear measures where we need to act further. Together with continued cost adjustments, profitability-driving measures and organisational changes in all instances, it strengthens our overall resilience to market fluctuations and provides opportunities for our businesses to develop their business. 

Our core businesses in roofing, electrical engineering, facade, charging and storage developed steadily during the quarter and continue to form an important foundation for the Group. Our assessment is that these core areas will continue to be central to the Group and constitute a platform for continued stability. 
 
Continued work on profitability-driving measures
During the quarter, efforts to strengthen the Group's financial resilience continued with the highest priority. The focus is on ensuring a more efficient cost base and in long term strengthening cash flow in the Group. Implemented measures are necessary to create a more efficient organization with improved conditions for profitable and sustainable growth. 
  
Structural changes in private solar energy companies 
In January 2026, we communicated structural changes regarding subsidiaries in solar energy for private individuals in Sweden, Norway and the Netherlands. This was a first step in meeting a weakened market, where the conditions for profitability in the consumer segment could not be reached in 2026. Against this background, a reconstruction was initiated in Sesol AB and in March it was decided by the Board of Directors of Sesol, in agreement with the administrator, to terminate the reorganisation and file a bankruptcy application for Sesol AB. 
 
For Soltech, this means that the Group is now being further refined towards business areas with corporate customers where we see a more stable demand and better conditions for long-term growth and profitability. 
 
Stable platform going forward
We are moving forward with full focus on creating stability, strengthening the Group's financial position and creating good conditions for sustainable business. The work to develop a more focused and profitable business continues with the adaptation of Group-wide functions, while at the same time we will take advantage of the opportunities created by our competent companies despite uncertainty in the market and the operating environment. 

I would also like to extend a big thank you to our employees, customers, partners and shareholders for your continued trust and commitment during a quarter characterized by change. 
 
Leif Göransson,
Interim CEO 
 
Read the CEO's comment in full in the report  
 
Q1: 1 JANUARY – 31 MARCH* 
• Net sales amounted to SEK 386.0 (419.6) million. The Group's organic growth amounted to -27% (-10) 

• EBITDA adjusted for operations subject to strategic review, deconsolidated operations and adjusted for non-cash non-recurring effects related to revaluations and impairments amounted to SEK -31.1 (-15.7) million.
 
• EBITDA amounted to SEK 49.8 (-13.8) million. EBITDA margin was 12.8% (-3.3%). EBITDA was impacted by revaluation and deconsolidation effects and restructuring of the consumer business of SEK 80.5 (5.3) million.

• EBITA, adjusted for operations subject to strategic review and adjusted for non-cash non-recurring effects related to revaluations and impairments, amounted to SEK -52.6 (-31.6) million.

• EBITA amounted to SEK 27.9 (-26.3) million. EBITA margin was 7.1% (-6.3%). EBITA was impacted by revaluation and deconsolidation effects and restructuring of the consumer business of SEK 80.5 (5.3) million.
 
• Profit after tax for the period amounted to SEK 4.0 (-48.6) million. 

 • Cash flow from operating activities amounted to SEK -72.2 (-78,9) million. Cash flow for the period amounted to SEK -130.6 (-114.7) million. 

• Earnings per share before and after dilution amounted to SEK 0.00 (-0,36)
 
Significant events during the quarter
Soltech has decided on structural changes for the Group's subsidiaries that operate in the consumer market in the form of reconstruction, bankruptcy and liquidation for the Solar-consumer companies in Sweden and Norway, as well as a sale of the shares in the Dutch company. This is in light of a continued weak and challenging market situation in the consumer market for solar energy. 

Other subsidiaries in electrical engineering, façades, roofs and large-scale solar energy installations, based on current operations and ongoing initiatives, are judged to be at or on track to profitable and cash flow positive levels, and this is where the Group's focus is going forward. In these areas, we see a brightening ahead with profitability improvements. Margins are affected by implemented cost-cutting measures and are starting to yield positive results 

On March 17, 2026, an Extraordinary General Meeting was held in Soltech. At the AGM, it was resolved, among other things, to elect Petteri Saarinen and Joachim Zetterlund as new members of the Board of Directors and that Ivana Stankovic and Bernt Ingman resigned from the Board. It was also decided that Petteri Saarinen will be elected as Chairman of the Board. It is noted that Stefan Ölander, Ove Anebygd, Jacob Langhard and Thomas Mejdell remained as members. 
 
Significant events after the quarter
Soltech enters the Finnish market by signing its first battery business in the country, a project with an order value of approximately SEK 125 million. The deal includes the design and construction of a larger battery park with associated installation of transformers, medium-voltage switchgear and then commissioning. Construction will start in the spring with planned commissioning in 2027. 
 
NP Gruppen has signed a new framework agreement with the municipal property company SISAB (Skolfastigheter i Stockholm AB). The framework agreement runs for four years and covers roof contracts, roof service and ongoing roof maintenance at SISAB's preschools, primary schools and upper secondary schools in the City of Stockholm and has an estimated value of approximately SEK 60–80 million. 
 
The Board of Directors of Soltech Energy Sweden AB appoints Leif Göransson as interim CEO and Pontus Andersson as interim CFO. The appointments are part of a crucial effort to build a platform for long-term profitable growth. 
 
Essa Glas has been commissioned by Zengun to construct and construct a prefabricated façade for the real estate company Wallenstam's property Sergelskrapan (Hötorgshus 5) in central Stockholm. The assignment includes an aluminium façade totalling 5,240 sqm, glass sections and sun protection. It is particularly important in the project that the façade meets the high demands for architectural design, colour, sustainability and energy efficiency. The project will start in the spring of 2026 and is expected to be completed in 2027. 
 
* Soltech sold the shares in the Dutch company on January 29, 2026. The business is presented as a business held for sale and is not included in Net sales, EBITDA and EBITA. Comparison periods have been adjusted. For further information, see note 11. Net sales, EBITDA and EBITA in the report include businesses in consumer solar that have been declared bankrupt, liquidated and restructured after the turn of the year. 
  
The quarterly report and other financial reports are available at: https://soltechenergy.com/en/investors/financial-reports-calendar