First quarter 2026

-    Order intake for the rolling 12-month period decreased by 19% to SEK 16,266 million (19,962), with organic growth of -12%.

-    Revenues decreased by 11% to SEK 4,576 million (5,150), with organic growth of -5%.

-    Adjusted operating profit (EBIT) amounted to SEK 386 million (540), with a margin of 8.4% (10.5), and included currency effects of SEK -93 million compared with the same period last year. Excluding currency effects, the adjusted EBIT margin totaled 9.9%.

-    Operating profit (EBIT) totaled SEK 391 million (513), with a margin of 8.5% (10.0), and included metal price effects of SEK 8 million (-27) and items affecting comparability related

to the targeted measures aimed at further strengthening our efficiency and competitiveness, of SEK -3 million (0).

-    Adjusted earnings per share, diluted, was SEK 1.14 (1.65).

-    Earnings per share, diluted, was SEK 1.16 (1.57).

-    Free operating cash flow amounted to SEK -65 million (46).

CEO's comment

Market conditions

Market development was mixed during the quarter, and toward the end of the period geopolitical uncertainty increased further as a result of the crisis in the Middle East. Despite this, there were positive elements, with strong performance in some of our key segments.

The more challenging market conditions primarily affected the Tube division, with negative organic order intake mainly within the Oil and Gas, Chemical and Petrochemical, and Industrial segments, where development has previously been weak due to postponed investment decisions.

Demand within the Kanthal division was positive, with good organic order growth, particularly in the Medical and Industrial Heating segments. Growth was driven by customers' increasing demand for electric heating solutions for end applications in electronics and semiconductors.

In total, order intake for the rolling 12-month period amounted to SEK 16,266 million (19,962), with organic growth of -12%.

Continued currency headwind impact earnings

Revenue for the quarter amounted to SEK 4,576 million (5,150), with organic growth of -5%, impacted by a continued weak market for our short-cycle business within the Industrial and Chemical and Petrochemical segments. Revenue was positively affected by segments such as Medical, Nuclear and Industrial Heating.

Adjusted EBIT amounted to SEK 386 million (540), with a margin of 8.4% (10.5), still impacted by weaker markets, primarily in Europe, as well as a significant currency headwind. The previously reported production constraints in Sandviken related to the expansion press, became less pronounced during the quarter and no longer impact production volumes. The result included negative currency effects of SEK 93 million compared with the same period previous year. Adjusted for negative currency effects, the adjusted EBIT margin amounted to 9.9%.

Free operating cash flow amounted to SEK -65 million (46) for the quarter, and is typically lower in the first half of the year, as some inventory build-up ahead of the summer period takes place.

Investing for the future

We continue to focus on our ongoing growth initiatives, which over time are expected to benefit attractive customer segments through expanded capacity, and lead to higher profitability and lower volatility. At the end of the quarter, the investment in Industrial Heating, initiated in 2023, was completed, increasing Kanthal's production capacity for silicon carbide products in Perth, UK, and for finishing operations in Concord, US.

The establishment of the new medical facility in Malaysia also continued according to plan, laying the foundation for long-term growth in one of our most attractive segments.

Our continuous efforts to improve efficiency and adapt operations to the prevailing, more challenging market environment, continued. The targeted measures initiated in October 2025, to strengthen operational efficiency and long-term competitiveness, progressed according to plan. The majority of these measures are aimed at achieving a lasting reduction in cost levels, and in total we expect them to generate cost savings of just over SEK 200 million per year once fully implemented toward the end of the year.

Resilience in a turbulent environment

Our diversified exposure and strong balance sheet provide resilience and flexibility in an uncertain market environment. This reduces our dependence on individual markets, regions and customer segments, while enabling us to capture growth opportunities in attractive niches.

It remains difficult to assess how the ongoing crisis in the Middle East will affect us, but we are prepared to act should conditions change. We are well positioned to continue strengthening our product mix and to execute on our strategic priorities with a focus on long-term value creation.

Göran Björkman, President and CEO

Conference call and webcast

A webcast and conference call will be hosted on April 27, 2026 at 1 pm CET. More information and a presentation will be available at www.alleima.com/investors

Dial-in details for the conference call

-    Sweden: +46 (0) 8 5051 0031

-    UK: +44 (0) 207 107 06 13

-    US: +1 (1) 631 570 56 13

Link to webcast

-    Webcast

Sandviken, April 27, 2026

Alleima AB (publ)

Contact details

Frida Adrian, Head of Investor Relations
Frida.adrian@alleima.com
Phone: +46 (0) 70 930 93 24

Yvonne Edenholm, Press and Media Relations Manager
Yvonne.edenholm@alleima.com
Phone: +46 (0) 72 145 23 42

About Alleima
Alleima, is a global manufacturer of high value-added products in advanced stainless steels and special alloys as well as solutions for industrial heating. Based on long-term customer partnerships and leading materials technology, we develop products for the most demanding applications and industries. Our offering includes products like seamless steel tubes for the energy, chemical and aerospace industries, precision strip steel for white goods compressors, air conditioners and knife applications, based on more than 900 active alloy recipes. It also includes ultra-fine wires for medical and micro-electronic devices, industrial electric heating technology and coated strip steel for fuel cell technology for cars, trucks, and hydrogen production. Our fully integrated value chain, from R&D to end-product, ensures industry-leading technology, quality, sustainability, and circularity. Alleima, with headquarter in Sandviken, Sweden, had approximately 6,800 employees and revenues of about 19 billion SEK in about 80 countries in 2025 Alleima is listed on Nasdaq Stockholm under the ticker `ALLEI'. Learn more at www.alleima.com.

This information is information that Alleima AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 11.30 AM CET on April 27, 2026.