Assets

The company's long-term assets, primarily comprised of intangible and tangible assets, as well as right-of-use assets, have experienced significant growth, driven by strategic acquisitions and business combinations, indicating a deliberate effort to expand the company's operational capacity. Meanwhile, the company's short-term assets, including cash and cash equivalents, trade receivables, and inventories, have shown a more modest increase, suggesting a focus on maintaining a stable liquidity position. Overall, the company's total assets have expanded, driven by the growth in long-term assets, while investments have also increased, reflecting the company's commitment to strategic growth initiatives.

Inventory

The realised value for Q2 2026 is 106.2 million Euros, while the predicted value for Q2 2027 (e) is 112.2 million Euros. The expected change in one year is 6 million Euros, which represents a 5.66% increase. The Relais Inventory is expected to increase by 7.3 million Euros from 2025 to 2026, which represents a 7.1% change. From 2026 to 2027, the Inventory is predicted to rise by 6.8 million Euros, a 6.2% increase. The year-end values for Inventory are 102.2 million Euros in 2025, 109.5 million Euros in 2026, and 115.3 million Euros in 2027.

Account Receivables

The realised Accounts receivable for Q2 2026 is 59.1 million Euros, while the predicted Accounts receivable for Q2 2027 (e) is 61.4 million Euros. The expected change in one year is an increase of 2.3 million Euros, which represents a 3.9% growth. The change in Accounts receivable from 2025 to 2026 is 16.8 million Euros, which is a 32% increase. From 2026 to 2027, the change is a decrease of 1.0 million Euros, which is a 1.4% decrease. The year-end values for Accounts receivable are 52.8 million Euros in 2025, 69.6 million Euros in 2026, and 68.6 million Euros in 2027.

The realised value of Relais Cash in Q2 2026 is 27.0 million Euros, while the predicted value for Q2 2027 (e) is 76.2 million Euros. The expected change in one year is an increase of 49.2 million Euros, which represents a 182% growth. The cash value is expected to increase from 34.2 million Euros in 2025 to 49.3 million Euros in 2026, representing a change of 15.1 million Euros or 44.1% increase. From 2026 to 2027, the cash value is predicted to rise from 49.3 million Euros to 102.3 million Euros, a change of 53 million Euros or 107.5% increase. The year-end cash values for the respective years are 34.2 million Euros, 49.3 million Euros, and 102.3 million Euros.

Shareholders Equity

The Company's Shareholders Equity has demonstrated a notable decrease from EUR 180.6 million to EUR 179.1 million, primarily driven by a significant increase in minority interest, indicating a shift in ownership structure. This change is likely a result of the acquisition of Qpax AB, which has introduced a new minority stakeholder, impacting the overall equity composition. The decrease in Shareholders Equity, despite a relatively stable retained earnings position, suggests that the Company's equity base is becoming more complex, with multiple stakeholders influencing its value.

The value of Relais Equity at the end of Q2 2026 is 118.7 million Euros. The predicted value of Relais Equity at the end of Q2 2027 (e) is 139.7 million Euros. The expected change in one year is 21 million Euros, which is an increase of 17.8% from the Q2 2026 value. The Relais Equity is expected to increase by 8.2 million Euros from 2025 to 2026, representing a 6.7% change. From 2026 to 2027, the Equity is predicted to rise by 22.6 million Euros, a 17.5% increase. The year-end values for Equity are 121.5 million Euros in 2025, 129.7 million Euros in 2026, and 151.3 million Euros in 2027.

*Future dividents are not included in prediction

Debt

The company's reliance on long-term debt has increased significantly, indicating a shift towards more capital-intensive financing strategies, which may impact its flexibility in responding to changing market conditions. Meanwhile, the proportion of short-term debt has decreased, suggesting a reduction in liquidity risk, but also potentially limiting the company's ability to take advantage of short-term opportunities. The gearing ratio and equity ratio, while not excessively high, indicate a moderate level of leverage, which may be manageable in the current economic environment but could become a concern if interest rates rise or the company's profitability declines.

Account Payables

The realised value of Accounts payables in Q2 2026 is 68.1 million Euros, while the predicted value for Q2 2027 (e) is 75.9 million Euros. The expected change in Accounts payables from Q2 2026 to Q2 2027 (e) is an increase of 7.8 million Euros, which represents a 11.4% growth. The accounts payables are expected to increase by 6.7 million Euros from 2025 to 2026, which is a 10.9% change. From 2026 to 2027, the accounts payables are predicted to increase by 7.1 million Euros, representing a 10.3% change. The year-end values for accounts payables are 61.9 million Euros in 2025, 68.6 million Euros in 2026, and 75.7 million Euros in 2027.

Net Debt

The Net Debt in Q2 2026 is 226.0 million Euros, and the predicted Net Debt in Q2 2027 (e) is 176.8 million Euros. The expected change in Net Debt from Q2 2026 to Q2 2027 (e) is a decrease of 49.2 million Euros, which represents a 21.8% reduction. The Net Debt is expected to decrease by 6.0 million Euros from 2025 to 2026, representing a 2.9% decrease. From 2026 to 2027, the Net Debt is expected to decrease by 53.0 million Euros, representing a 26.1% decrease. The year-end Net Debt values for 2025, 2026, and 2027 are 209.6, 203.7, and 150.7 million Euros, respectively.