INTERIM REPORT Q1 2026

 Gothenburg                                                                                       2026-04-22

INTERIMREPORTQ12026

Groupfinancialoverview

Q1 2026 represents a turning point forAixia Group. The company reports a positive profit after financial items of SEK 77 thousand, compared to a negative full-year result of SEK -4,132 thousandin2025.Theefficiencyprogramisdeliveringresults,althoughitsfullimpacthasnotyet been realized.

Net sales amounted to SEK 44,650 thousand for the period January–March 2026. Compared to Q12025(SEK85,939thousand),thedecreaseissignificant,butislargelyexplainedbyasingle digital transaction of SEK 44 million included in Q1 2025.

Adjusted for this non-recurring item, the underlying comparison base for Q1 2025 amounts to approximatelySEK41.9million,indicatingthattheunderlyingbusinesshasinfactshownpositive development.

EBITDAamountedtoSEK2,957thousand(Q12025:SEK4,671thousand),andoperatingprofit totaled SEK 490 thousand, compared to a negative full-year result in 2025. The equity ratio amounted to 25.0%, representing an improvement compared to both Q1 2025 (23.3%) and full-year 2025 (20.3%).

The geopolitical situation, economic downturn, and exceptionally high component prices with extendedleadtimescontinuetoimpactmarketconditions.Thecompanyexpectsthesefactorsto remain noticeable in the coming quarter, but believes thatAixia’s positioning – throughAiQu as an orchestration tool for existingAI infrastructure – provides a structural advantage in the current market climate.

AMessageFromtheCEO

Thefirstquarterof2026marksanimportantturningpointforAixiaGroup.Inaperiodcharacterizedby geopoliticaluncertainty,aprolongedeconomicdownturn,andsharplyincreasingcomponentprices withexceptionallylongleadtimes,wehavereversedanegativeearningstrendanddeliveredapositive result. This is something I am proud of.

Theexternalenvironmenthasrarelybeenmorechal-lenging. Ongoing geopolitical tensions are creating uncertaintyinglobalvaluechains,componentprices havereachedhistoricallyhighlevels,andleadtimes for critical hardware are in many cases as long as 12–18 months. This affects the entireAI/IT industry and naturally impacts us as well.

Despitethis¬andthisisimportanttoemphasize –AixiaGroupreportsapositiveprofitafterfinancial items of SEK 77 thousand for Q1 2026.At first glance,thismayappearmodest,butincontextitis highlysignificant.Wehavebuiltamorecost-efficient organization, improved internal processes, and strengthened our gross margin in the underlying operations.

ComparedtoQ12025,netsalesappearlower–SEK 44.7millionversusSEK85.9million.However,itis essential to note that the previous year included a singledigitaltransactionofSEK44million,making thecomparisonmisleading.Adjustedforthisone-off transaction, the underlying business has actually grown.

During 2025, we completed the acquisitions of WhiteRed SW2AB and WeblandAB. These acqui-sitions were strategically motivated to broaden our baseofrecurringrevenueandestablishaplatformfor futureAIexpansionintoanestablishedandwell-man-aged customer base. I am pleased to note that the effects materialized faster than expected – not least from the acquisition of WeblandAB.

Webland has contributed stable, contract-based revenueandawell-structuredoperationsorganiza-tionthathasbeenquicklyintegratedintotheGroup. ThisstrengthensourARRbase,improvescapacity utilization,andreducesquarterlyrevenuevolatility. It also provides access to a customer base with significant potential for furtherAI development – customerswho,inmostcases,havenotyetbegun theirAItransformation.Thisrepresentsastructural upsidethatwearenowactivelyworkingtorealize.

Itshouldalsobenotedthattheacquisitionsimpact the cash flow analysis for Q1 2026. Changes in working capital – such as new supplier liabilities, customer receivable structures, and integrated paymentflows–areclearlyreflectedintheperiod’s cash flow and are a natural consequence of full consolidation. Underlying operational cash flow is assessed as stable.

In 2025, we launched a comprehensive efficiency and restructuring program with an estimated full-year effect of just over SEK 6 million, along with approximately SEK 1 million in additional savings frominternalAI-drivenautomation.Wearealready seeingmeasurableeffectsinQ12026,althoughthe full impact is expected to be realized around June 2026 when all organizational adjustments, cost structurechanges,andprocessimprovementsare fully implemented.

This is not only about reducing costs. It is about buildingamoreefficientorganizationwiththeright competenciesintherightplaces–anorganization adaptedtothemarketweareactuallyoperatingin, nottheonewehad18monthsago.Wehavemade difficult but necessary decisions without compro-mising our technical leadership, core expertise, or long-term direction.

Aixiahasadeeplyembeddedcultureofadaptability, whichIbelieveisoneofourstrongestassets.Thisis not something we have developed recently – it has been part of our DNAsince our founding in 2007. Wehavealwayschallengedthestatusquo,sought bettersolutions,andadaptedfasterthanthemarket expects.

This culture is what enables us to navigate one of themostchallengingperiodswehaveexperienced –anditisthesameculturethathasledusnotonly toadapt,buttodevelopentirelynewconceptsand offeringstohelpourcustomersnavigatethecurrent environment.

At a time when component prices are rising sharply and lead times are unreasonably long, we have developednewmodelsforhowcustomerscanutilize existing technology in more efficient ways. This meansmaximizingthevalueofexistinginvestments, postponingnewinvestmentdecisionsuntilthemarket stabilizes,whilestillmaintainingastrongAIambition. Theseconceptsareresonatingstronglyinthemarket and demonstrate that we are not waiting for better conditions – we are creating relevance within them.

We are currently in the midst of a paradigm shift withinAI.AgenticAI –AI capable of independently planning, making decisions, and executing tasks – gainedbroadtractionshortlyaftertheturnoftheyear 2025/2026. While the technological shift occurred rapidly, we were prepared.Aixia Group has already initiated several projects in this area, and what we areseeingisremarkable:weareidentifyingtangible andmeasurablebusinessvalueforcustomerseven before projects are fully completed. Shorter produc-tion lead times, more efficient processes, and clear cost savings are already evident.

Inthiscontext,AiQuplaysanincreasinglyimportant role–andtodayitisthepartofourAIbusinessthat is truly gaining momentum. Within our broaderAI offeringforindustry,AiQuisdrivinggrowth,attracting new customers, and creating recurring business relationships. It is also at the core of the agenticAI projects we are now delivering.

AiQucreatesbusinessvalueonthreelevels.First, itenablesexistingITinvestmentstodelivervalue –customerswithexistinginfrastructurecanbegin usingitforAIpurposeswithoutadditionalhardware investments, which is critical given current lead timesof12–18monthsandrisingprices.Second,it significantlyacceleratestime-to-value–AIinitiatives that would otherwise take months can be realized

in weeks. Third, it reduces risk by providing full costtransparencyandcontrol,makingiteasierfor management and boards to make decisions and scale initiatives.

Mattias Bergkvist CEO,
AixiaGroupAB(publ)

Significanteventsduringtheperiod

BuildNordicsAI

–LaunchatNVIDIAGTC in Silicon Valley

Oneofthemostsignificanteventsduringthequarter is something not reflected in the figures, but which clearly illustrates our strategic position. In March 2026,inconnectionwiththeNVIDIAGTCconference in Silicon Valley,Aixia, together with evroc and OpperAI,launchedtheBuildNordicsAIinitiative

–aconcreteandwell-definedplatformdesignedto helpSwedishandNordiccompaniesbuild,deploy and scaleAI in production, with sovereignty as a fundamental principle.

BuildNordicsAIbringstogetherthreecomplementary layers of the NordicAI stack under one umbrella: Aixia contributesAI solutions and infrastructure expertise, evroc contributes Europe’s first pur-pose-built hyperscale cloud platform, and OpperAI contributesAI tools and the enterprise control layer. Together,wecovertheentirechainfromstrategyand implementationtosecure,sovereignoperations–on European soil, under European legislation, without jurisdictional ambiguity.

The initiative was launched through a launch event in PaloAlto and an executive dinner in Cupertino, aimed at leaders in defense, the public sector and criticalinfrastructure.Interesthasbeenverystrong. This confirms that the market we have long pointed to – Nordic sovereignAI with documented business value – is now truly mature. The questions of who controlsthedata,whereitisstored,andunderwhich jurisdiction theAI infrastructure operates are no longertheoretical.Theyarebusiness-criticalpriorities at executive level.

BuildNordicsAIisaconcreteexpressionofthefact thatAixia is not content with being a local player adapting to global trends – we are helping shape theNordicAIagendainternationally.Launchingthis atNVIDIAGTC,oneoftheworld’smostinfluential AIconferences,isinitselfastatementofwherewe stand.

It would be wrong of me not to comment on the broader disruption brought about by the wave of agenticAI – not only for our customers, but for ourselves as well. The era of agenticAI challenges established ways of working, organizational struc-tures,andwhatwehavetraditionallyunderstoodas leadership.Processesthathavelongrequiredteams ofspecialistscanincreasinglybeorchestratedbyAI agents working around the clock, learning continu-ously and making increasingly qualified decisions.

We see this as an opportunity, not a threat. Our adaptable culture makes us well equipped to adjust faster than our competitors – and our technical position,withAiQuasaplatform,makesusacredible partner for customers now taking their first steps

into the agentic era. We are actively investing in understandinghowtheseshiftsaffectourcustomers’ businesses, and we are adapting our offerings and internalorganizationasthepicturebecomesclearer.

Aixia’s future is defined by opportunity. WithAiQu as the engine of ourAI business, a strengthened cost structure, an expanded customer base from theacquisitions,andanorganizationwithagenuine willingness to change, I look ahead to the coming quarters with confidence.

//

Mattias Bergkvist
CEO, Aixia Group AB (publ)

This information is information that Aixia Group AB (publ) is required to make public pursuant to the EU Market Abuse Regulation.
The information was provided by the above contact, for publication 2026-04-22.

FOR MORE I N FORMATION / 

Get in touch with the company at: 

CEO Mattias Bergkvist
Phone: 031-762 02 40
info@aixia.se
www.aixia.se

Aixia Group AB (publ)
Hälsingegatan 10
431 63 Göteborg

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