Caybon Interim Report Second Quarter 2026

CEO Comment

Strategy and change in focus

As highlighted in our previous report, the Group's strategic direction has continued to be challenged and refined. We have conducted a thorough review of the positioning of the Group and its business areas. Our updated positioning ambition has been incorporated into a revised strategic plan that sets out a clear path back to profitability and value creation. The plan includes a number of actions that we will begin implementing over the coming quarters to drive this improvement. The Group as a whole remained unprofitable in the second quarter, which further reinforces the importance of executing the plan. 

Mixed performance
Group net sales increased 20% to 243,964 (203,466) TSEK. Adjusted EBITA increased to
-3,334 (-4,461) TSEK. Network segment net sales continued to grow following growth in Splay One's offerings - with the segment showing a 62% year-on-year increase. The Campaign segment was just slightly below last year's net sales.

The growth in the Network segment was driven by lower-margin offerings within Splay One's network products, which contributed to a less extent on profitability.

Campaign segment

The segment's net sales slightly decreased by 1% year-over-year, totalling 136,069 (137,275) TSEK. The segment reported an increased adjusted EBITA of 2,364 (1,374) TSEK.

In the Campaign segment, N365 showed encouraging development, with profitability increasing compared to last year. This improvement was driven in particular by the Swedish operations moving in the right direction, while the US operations recorded some decline connected to key clients. At Mediaplanet, profitability improved compared with last year, although further improvement is needed. Rebuilding the sales organisation remains an important priority. Appelberg presented sales in line with last year, but due to the product mix and higher share of the distribution profit with lower margins, profitability was lower than last year.

Network segment

In the Network segment, net sales increased by 62% to 111,658 (68,764) TSEK in the quarter. The adjusted EBITA came in lower than last year at 509 (1,022) TSEK. As already mentioned, the significant increase in sales was driven by Splay One and its Swedish operations, supported by new global collaborations added to their network. Newsner continued to work in headwind as downturns in their traffic from Facebook was evident, causing decrease in both sales and profitability.

Although the segment grew sales strongly, this was in low margin business rendering limited additional profits meanwhile Newsner's profitability declined. Overall, this meant a decline in profitability for the segment. 

Outlook

Looking forward, the increased focus on our offering is beginning to show encouraging signs, even though the Group's overall profitability remains below our ambitions. 

We believe the strategic direction is the right one, and our focus is now firmly on execution. We will continue to rebuild and reposition the business, with the clear objective of improving profitability and creating a stronger foundation for sustainable value creation.

Martin Edwall, CEO

For more information please contact:

Martin Edwall, Chief Executive Officer

Email: [email protected]

Caybon Holding AB is required to disclose this information pursuant to EU Market Abuse Regulation 596/2014. The information was provided by the above contact person for publication on 14 August 2026 at 08:00 CEST.

About Caybon

Caybon is a world-leading digital media company focused on branded content that drives tangible results.Caybon is a group of scalable, digitally focused marketing companies specialised in content and distribution. The purpose is to offer advertisers and organisations a way to communicate with their target group in an editorial and relevant context. The various offerings include a range of solutions from online media, videos, performance-related advertising and events, as well as printed products. Revenues in turn are derived from content production as well as various forms of advertising solutions. The clients range from small to medium-sized companies up to multinational groups. The client base is thus diversified in terms of both size, sector and geography. The five brands within the Group are grouped into two business segments: Campaign and Network.

For more info visit www.caybon.com