Interim report
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QUARTERLY REPORT Q2 | 1 October 2025 – 31 December 2025 Freetrailer Group A/S · CVR: 28891938 · Dampfærgevej 10, 5th Floor · DK-2100 Copenhagen Ø www.freetrailer.com · Spotlight Stock Market: MTF Shares · ISIN: FREETR - DK0061026119
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The Company Freetrailer Group A/S Dampfærgevej 10, 5th Floor DK-2100 Copenhagen Ø CVR No. 28891938 Date of Establishment 1 July 2005 Registered Office Copenhagen Ø Accounting Period 1 October 2025 – 31 December 2025 Board of Directors Thomas Zeihlund Anders Birk Jensen Charlotte Bender Jesper Genter Lohmann Kræn Østergård Nielsen Executive Management Nicolai Frisch Erichsen, Group CEO COMPANY INFORMATIONCONTENT 3 4 5 6 11 16 17 18 19 25 Brief about Freetrailer Group A/S Highlights in Freetrailer Q2 2025/2026 Freetrailer Group overview CEO Letter Key figures and key ratios for the reporting period Organisation and wellbeing Significant events Statement from the Management and Board Quarterly report Contact 2 Freetrailer Group A/S | Quarterly Report Q2 | 1 October 2025 – 31 December 2025
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89 190 464 835 226 Locations in Denmark, Sweden, Norway, Germany, and the Netherlands 1,804 Rental products in operation 6,381 Partners 276 Rentals in the past 12 months 1,665,288 App users 1 ,027, 5 01 BRIEF ABOUT FREETRAILER GROUP A/S Freetrailer Group is a Danish technology company with a mission to make it easy to reserve and borrow a trailer for free via a digital self-service platform. With a 100% self-service solution through the Freetrailer app and an electronic lock, Freetrailer’s partners and their customers get maximum flexibility. With 1,027 ,501 Freetrailer users at the end of Q2 2025/26, Freetrailer confirmed its position as Europe’s largest mobility platform for trailers and cargo bikes. In August 2024, we launched Mont Blanc 2027 , a strategic plan to improve the app, grow market share and strengthen our ONE Team culture. Freetrailer Group has a scalable business concept built on an innovative IT platform with global potential. The company was listed on Spotlight Stock Market in 2018 (Ticker: FREETR). Freetrailer Group A/S CVR: 28891938 www.freetrailer.com Spotlight Stock Market: MTF Shares ISIN: FREETR – DK0061026119 3 Freetrailer Group A/S | Quarterly Report Q2 | 1 October 2025 – 31 December 2025
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DKK 1,000 HIGHLIGHTS IN FREETRAILER Q2 2025/2026 Q2 25/26 Q2 25/26 Q2 25/26 31-12-2025 31-12-2025 Q2 24/25 Q2 24/25 Q2 24/25 31-12-2024 31-12-2024 Net revenue 34,451.3 28,351.9 Growth: 21.5% Profit before tax - 1 8 7 . 8 2 , 9 4 8 . 9 Growth: -106.4% EBIT 893.9 2,610.9 Growth: -65.8% Number of rental products 6 , 3 8 1 5 , 2 2 5 Growth: 22.1% Rentals in the last 12 months 1,665,288 1,445,026 Growth: 15.2% 31-12-2024 31-12-2025 Freetrailer app users 1 , 0 2 7 , 5 0 1 4 3 4 , 8 8 1 Growth: 136.3% 12-2506-24 09-24 12-24 03-25 06-25 09-25 35,487 285,515 434,881 568,943 737,683 903,586 1,027,501 672,042 27,319 238,159 367,957 482,813 616,332 652,660 App users (total). Of which active app users, trailer hire within the last 12 months. FREETRAILER APP USERS (number) 4 Freetrailer Group A/S | Quarterly Report Q2 | 1 October 2025 – 31 December 2025
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Freetrailer Group A/S CVR 28891938 Freetrailer Norge AS ID 915462790 The Group’s Norwegian activities are operated through this company. Freetrailer Sverige AB ID 5567696108 The Group’s Swedish activities are operated through this company. Freetrailer Poland Sp. Z.o.o Company for the Group’s activities in the Polish market. WoogieWoogie ApS CVR 30208765 Passive company established for the development of other sharing economy services. Freetrailer Danmark ApS CVR 27626661 The Group’s Danish activities are operated through this company. FTG Freetrailer Deutschland GmbH 9024326567 The Group’s German activities are operated through this company. Freetrailer Netherlands B.V. KVK-nummer: 94665869 The Group’s Dutch activities are operated through this company. Freetrailer Rental ApS CVR 37519677 Company for the financing of trailers for use in the Group’s operating companies. 100% Active companies Other companies FREETRAILER GROUP OVERVIEW “Freetrailer Group A/S” or “the company” refers to the Group (CVR 28891938), headquartered in Copenhagen, Denmark. The Freetrailer Group consists of: Freetrailer Danmark ApS, Freetrailer Sverige AB, Freetrailer Norge AS, FTG Freetrailer Deutschland GmbH, Freetrailer Netherlands B.V., Freetrailer Rental ApS, Freetrailer Poland Sp. Z.o.o., and WoogieWoogie ApS. Freetrailer Group A/S is the parent company of the Group. 5 Freetrailer Group A/S | Quarterly Report Q2 | 1 October 2025 – 31 December 2025
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THE PLAN IS ON TRACK. THE RESULTS FOLLOW. CEO LETTER We closed the first half of 2025/2026 with agreements covering 1,059 rental products. This represents 149% growth in new agreements compared with the first half of 2024/2025. In Q2, we strengthened our European expansion, adding 462 new rental products to the market. During the quarter, we also entered into several strategic partnership agreements, including Granngården in Sweden and Het Goed Kringloop in the Netherlands. At the same time, we extended agreements with our strategic partner, Elgiganten in Sweden. In total, Freetrailer signed agreements, both new sales and upsales, for 1,903 rental products in 2025. A strong result that confirms the high level of interest in Freetrailer’s solution. Growth driven by customer experience, network effects and volume We are focused on strengthening existing markets, being the preferred self-service solution and exploring new growth opportunities. Our current growth is not driven solely by more rental products, but by a service customers return to and recommend. With an average Net Promoter Score of 80 (NPS is measured on a scale from - 100 to 100), this shows that the customer experience is a key competitive differen - tiator for us. The combination of high user satisfaction and our position as market leader in the cities where demand is greatest creates a self-reinforcing network effect. More users and more rentals increase the relevance and value for our partners. By the end of December 2025, the fleet comprised 6,381 rental products across all five markets. With 1,665,288 rentals over the last 12 months, we increased rentals by 15.2% compared with the previous year. Several strategic partnership agreements in Q2 6 Freetrailer Group A/S | Quarterly Report Q2 | 1 October 2025 – 31 December 2025
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Strong sales-led organisation The number of partners increased to 276 by year-end, representing 52.5% growth over 12 months. Over the past few years, we have succeed - ed in transforming Freetrailer into a strong sales- led organisation. The impressive 149% growth in signed agreements, measured by the number of rental products with partners and advertisers in the first half of 2025/2026, combined with low partner churn, provides a solid foundation for continued growth. We have maintained momentum into 2026, with a total of 400+ upsales and new sales of rental products in January and February. The many new rental products place significant demands on investment in the organisation, partner onboarding and marketing. While these investments affect our bottom line in the short term, we expect to see positive results over the coming years. Courage to challenge the status quo One of the cornerstones of Mont Blanc 2027 is our team. Together, the leadership team is focused on development and on challenging ourselves. Our leaders and employees are the foundation of our growth journey, and we need the courage to challenge the status quo. At Freetrailer, we have an engaged and dedicated team, and we are proud of the culture and behaviours we create together. It is our culture that moves us forward. Employee satisfaction is increasing. At Freetrailer, we look out for one another and try to create opportunities for personal development. 7 Freetrailer Group A/S | Quarterly Report Q2 | 1 October 2025 – 31 December 2025
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Circular solution and increased growth in the Netherlands We are seeing interest from partners with a clear sustainability strategy. The partnership between RataPlan and Het Goed Kringloop and Freetrailer offers customers a solution that is not just about sales away from the store. They want to provide a simple option, also for those who prefer a circular lifestyle. Freetrailer looks back on a successful year in the Netherlands, where rental frequency has grown signifi- cantly. The result confirms our strategic direction, and the Netherlands has established itself as a market with strong growth and potential. Outdoor media and the platform’s next business leg Our outdoor media concept continues to attract strong interest, particularly among larger international brands, who see Freetrailer as a strong addition to their market- ing mix. From a technology perspective, we are explor- ing the use of AI to improve planning, operations and the customer experience. It’s not about replacing the personal touch, but rather about prioritising our time so we can be closer to customers and partners. Freetrailer Business targeted at business users Freetrailer Business has been gradually rolled out as a pilot for business users, and we are planning a full rollout over the coming months. Freetrailer Business is a strategic step that strengthens our competitiveness when it comes to attracting partners with a focus on business customers. The expansion of our collaboration with the builders’ merchant chain XL -BYG Fog in Denmark and a major B2B builders’ merchant chain in Sweden confirms the need for a business solution. The solution gives us several new opportunities to scale without increasing complexity. 8 Freetrailer Group A/S | Quarterly Report Q2 | 1 October 2025 – 31 December 2025
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I step down confident that we are well positioned Since I took up the role three years ago, Freetrailer’s revenue has grown by more than 100%, and profit has more than tripled, while the organisation has been expanded and matured. I am proud of what we have achieved together. At this time, I am putting the finishing touches to the final elements of the strategic project that has defined the direction of the company and my work. It is a growth project that we have shaped together, and one I have lived and breathed every day, working closely with a strong leadership team. Now a new direction needs to be set, and it therefore feels natural for me to consider where I want to focus my efforts in the years ahead. I am grateful to the many fantastic employees who have made this success possible every day, and I wish the new leader- ship the very best for the next chapter, which I will be following as an investor. Nicolai Frisch Erichsen Group CEO, Freetrailer Group A/S 9 Freetrailer Group A/S | Quarterly Report Q2 | 1 October 2025 – 31 December 2025
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INTRODUCTION OF OUR NEW GROUP CEO THOMAS ZEIHLUND 2026 has started with positive trends Under Nicolai’s leadership, 2026 has got off to a very strong start. Our Freetrailer app has a strong identity that is driving growth to more than 1,000,000 users. We are rolling out several new improvements in the app, including an improved search function. As the European market leader with the largest platform for the rental of trailers and cargo bikes, we have a strong focus on continuous development. At the same time, we are sharpening our focus on the customer journey, so we continue to ensure a user-friendly self- service solution. We are maintaining our investments in sustainable solutions and will launch a self- developed electric cargo bike in spring 2026 to strengthen Freetrailer’s position and visibility in larger urban areas. As at the end of February, we have a total of 770 new rental products in the rollout pipeline. We have a target of more than 7 ,500 rental products in the market by summer 2026. Guidance for 2026 Net revenue: DKK 163–1 73m. EBIT: DKK 20–30m. We expect to continue strong double-digit growth in the underlying business, alongside solid earn - ings, although 2026 will include increased invest- ment in future growth and business models. I am proud and humbled to take on the role of Group CEO at Freetrailer. I have come to know the business in depth through nearly three years as Chair of the Board, and I am proud of the results we have achieved with Nicolai at the helm. The company has a fantastic foundation for further profitable growth, and I look forward to continuing the work that Nicolai has driven together with the rest of the team. 10 Freetrailer Group A/S | Quarterly Report Q2 | 1 October 2025 – 31 December 2025
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Denmark Sweden Norway Germany Netherlands 382,562 316,915 139,200 23,291 365,775 263,560 111,693 16,671 20,048 N/A NUMBER OF RENTALS YTD 2025/2026 2024/2025 RENTAL KEY FIGURES * Number of rental products 31-12-2025 Number of rental products 31-12-2024 Number of rentals YTD 25/26 Number of rentals YTD 24/25 Utilisation rate YTD 25/26 Utilisation rate YTD 24/25 Denmark 2,211 2,183 382,562 365,775 93.3% 91.8% Sweden 2,556 2,002 316,915 263,560 71.7% 75.5% Norway 936 791 139,200 111,693 84.9% 79.3% Germany 420 249 23,291 16,671 34.8% 41.8% Netherlands 258 0 20,048 0 44.9% 0.0% Total 6,381 5,225 882,016 757,699 78.2% 81.6% *Includes all products KEY FIGURES AND KEY RATIOS FOR THE REPORTING PERIOD Growth in number of rentals The number of rentals increased to 396,388 in Q2, corresponding to growth of 18.3% compared with the same period last year. For the first half (YTD), the number of rentals totalled 882,016, corresponding to overall growth of 16.4%. The increase is driven by the continued expansion of Freetrailer’s rental portfolio across the four existing markets as well as the Netherlands. In addition, rental frequency in the Danish and Norwegian markets increased in the first six months of the year compared with last year. 11 Freetrailer Group A/S | Quarterly Report Q2 | 1 October 2025 – 31 December 2025
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Growth in the rental portfolio The rental portfolio increased to 6,381 rental units in Q2, corresponding to growth of 7 .8% in the quarter and 8.6% YTD. Growth was primarily driven by expansion in Sweden, Norway and Germany. Denmark saw a net decline of 1.6% YTD, but still shows high activity and strong utilisation of the existing portfolio. Germany continues its significant expansion, with portfolio growth of 36.4% YTD and 68.7% over the last 12 months. DEVELOPMENT IN NUMBER OF RENTALS Q2 * Q2 25/26 Q2 24/25 Change Q2 Change Q2 in % Denmark 170,923 166,083 4,840 2.9% Sweden 141,786 113,348 28,438 25.1% Norway 61,022 46,826 14,196 30.3% Germany 12,147 8,759 3,388 38.7% Netherlands 10,510 0 10,510 N/A Total 396,388 335,016 61,372 18.3% *Includes all products DEVELOPMENT IN NUMBER OF RENTALS YTD * YTD 25/26 YTD 24/25 Change YTD Change YTD in % Full year 24/25 Denmark 382,562 365,775 16,787 4.6% 733,045 Sweden 316,915 263,560 53,355 20.2% 541,690 Norway 139,200 111,693 27,507 24.6% 224,834 Germany 23,291 16,671 6,620 39.7% 35,125 Netherlands 20,048 0 20,048 N/A 6,275 Total 882,016 757,699 124,317 16.4% 1,540,969 *Includes all products DEVELOPMENT IN NUMBER OF RENTAL PRODUCTS Q2 * 31-12-2025 30-09-2025 Change Q2 25/26 Change Q2 in % Denmark 2,211 2,089 122 5.8% Sweden 2,556 2,382 174 7.3% Norway 936 874 62 7.1% Germany 420 329 91 27.7% Netherlands 258 245 13 5.3% Total 6,381 5,919 462 7.8% *Includes all products DEVELOPMENT IN NUMBER OF RENTAL PRODUCTS YTD * 31-12-2025 30-06-2025 31-12-2024 Change YTD 25/26 Change YTD in % Denmark 2,211 2,248 2,183 -37 -1.6% Sweden 2,556 2,246 2,002 310 13.8% Norway 936 847 791 89 10.5% Germany 420 308 249 112 36.4% Netherlands 258 227 0 31 13.7% Total 6,381 5,876 5,225 505 8.6% *Includes all products 396.388 Q2 25/26 335.016 Q2 24/25 46+54+A 12 Freetrailer Group A/S | Quarterly Report Q2 | 1 October 2025 – 31 December 2025
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Rolling 12-month rentals At the end of the quarter, Freetrailer reached 1,665,288 rentals on a rolling 12-month basis, corresponding to growth of 15.2% compared with the same point last year, when the figure was 1,445,026. Over a five-year period, the number of rentals has grown significantly, underlining strong and sustained demand for Freetrailer’s concept, as well as an increasingly broad geographic footprint. Rolling 12-month rentals by market Rolling 12-month rental activity has continued to increase over the past year across all markets. Growth is distributed as follows: Denmark +6.5%, Sweden + 16.1%, Norway +27 .5%, Germany +37 .9%, while the Netherlands contributed 26,323 rentals in its launch year. In absolute terms, growth was driven by a total uplift of 220,262 rentals, with Sweden and Norway making the largest contribu- tions, adding 82,401 and 54,430 rentals respectively, while Denmark contributed 45,642 and Germany 11,466. Looking at the geographic split, Denmark and Sweden still account for the majority of the volume at 45.0% and 35.7% respectively, while Norway represents 15.2% of the total base. Germany accounts for 2.5%, and the Netherlands adds 1.6% following entry into the market. Overall, this development reflects solid, geographically broad growth of 15.2% in total rolling 12-month rentals. 5-YEAR RENTAL HISTORY 2021 TO 2025 2021-12 2022-12 2023-12 2024 -12 2025-12 693,205 839,059 1 ,057, 337 1,445,026 1,665,288 +24.5% CAGR 53,195 76,802 127, 8 59 197,911 252,341232,979 297, 8 4 8 383,310 512,644 595,045 405,747 449,302 522,450 704,192 749,834 2021-12 2022-12 2023-12 2024 -12 2025-12 N/A N/A N/A N/A 26,3231,284 15,107 23,718 30,279 41,745 5-YEAR RENTAL HISTORY BY COUNTRY 2021 TO 2025 NetherlandsDenmark Sweden Norway Germany 13 Freetrailer Group A/S | Quarterly Report Q2 | 1 October 2025 – 31 December 2025
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Revenue growth Revenue in Q2 2025/2026 totalled DKK 34.5m, up from DKK 28.4m in the same period last year, corresponding to growth of 21.5%. For the first half, revenue totalled DKK 76.2m, up from DKK 61.6m last year, corresponding to overall growth of 23.7%. Growth was driven by both higher rental activity and a larger rental portfolio across markets. Performance was also supported by continued scaling in Sweden, Norway and Germany. This development marks another step up in revenue and confirms the structural growth of the business, where both volume and geographic expansion are contributing positively. 14.1 17. 8 25.3 28.4 34.5 16.2 19.7 26.5 33.2 41.8 15.5 17.0 22.4 28.3 16.8 20.6 31.7 39.6 Q1 Q4Q3Q2 2021/2022 2022/2023 2023/2024 2024/2025 2025/2026 QUARTERLY REVENUE (DKK MILLION) 14 Freetrailer Group A/S | Quarterly Report Q2 | 1 October 2025 – 31 December 2025
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EBIT EBIT in Q2 totalled DKK 0.9m, down from DKK 2.6m in the same period last year. For the first half (YTD), EBIT came to DKK 14.2m, representing an increase of 14.9% compared with the same period last year. The EBIT margin YTD was 18.6%, compared with 20.0% last year. The movement reflects depreciation and costs related to the continued build-out of the rental portfolio and the scaling of new markets. Profit before tax For the first half, profit before tax totalled DKK 12.4m, representing a 4.0% decrease compared with the same period last year. Capital structure Equity amounted to DKK 56.9m as at 31 December, corresponding to an increase of 8.9% compared with the same date last year, and the equity ratio was 39.4%, compared with 33.7% as at end-June. The liquidity position remains solid, with DKK 34.7m in cash and cash equivalents as at 31 December. Earnings per share (EPS) for the first half were DKK 0.97 , compared with DKK 1.02 in the same period last year. KEY FIGURES FOR FREETRAILER GROUP DKK Q2 2025/2026 Q2 2024/2025 Change Q2 YTD 2025/2026 YTD 2024/2025 Change YTD Full year 2024/2025 Net revenue 34,451,307 28,351,902 21.5% 76,203,087 61,598,724 23.7% 129,491,284 EBITDA 9,701,350 3,645,652 166.1% 30,200,996 14,361,864 110.3% 50,639,196 EBIT 893,933 2,610,875 -65.8% 14,166,546 12,330,025 14.9% 25,023,583 EBITDA margin 28.1% 12.9% 118.6% 39.6% 23.3% 69.8% 39.1% EBIT margin 2.6% 9.2% -71.9% 18.6% 20.0% -7.2% 19.3% Profit before tax -187,818 2,948,871 -106.4% 12,429,883 12,951,832 -4.0% 23,618,257 Profit after tax -470,047 2,073,264 -122.7% 9,201,026 9,773,078 -5.9% 17,800,544 Equity 56,884,243 52,254,325 8.9% 56,884,243 52,254,325 8.9% 44,013,754 Number of shares 9,677,574 9,571,324 1.1% 9,677,574 9,571,324 1.1% 9,677,574 EPS -0.05 0.22 -122.8% 0.97 1.02 -5.5% 1.89 EPS (diluted) -0.05 0.22 -122.4% 0.95 1.02 -6.9% 1.84 Equity ratio 39.4% 72.2% -45.4% 39.4% 72.2% -45.4% 33.7% Cash and cash equivalents 34,652,641 39,143,928 -11.5% 34,652,641 39,143,928 -11.5% 30,509,498 Total assets 144,294,175 72,420,905 99.2% 144,294,175 72,420,905 99.2% 130,680,890 Number of rentals 396,388 335,016 18.3% 882,016 757,699 16.4% 1,540,969 NET REVENUE Q2 2025/2026 NET REVENUE Q2 2024/2025 34,451,307 28,351,902 15 Freetrailer Group A/S | Quarterly Report Q2 | 1 October 2025 – 31 December 2025
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Expansion of Freetrailer’s management team Freetrailer’s management team has been significantly strengthened in the latest period. We have recruited a new CTO, Morten Nørgaard Larsen, and at the same time the management team has been expanded with Naja Couriol, Head of People & Culture. Naja Couriol’s primary focus is to strengthen Freetrailer’s HR function and recruitment, while also ensuring continued focus on wellbeing. Increasing employee satisfaction at Freetrailer In Q2 2025/2026, Freetrailer saw rising employee satisfaction. During the quarter, Freetrailer introduced a new professional tool to measure employee satisfaction across a number of key areas, including leadership, understanding of strategy, working conditions, personal development and culture. Freetrailer’s employee Net Promoter Score (eNPS), which measures engagement and loyalty on a scale from - 100 to + 100, increased to 47 in the latest employee survey in Q2 2025/2026. With the expansion of the management team and a stronger focus on supporting and developing our employees, as well as maintaining our strong culture, it is a shared goal at Freetrailer to continue the positive trend in employee satisfaction in 2026. ORGANISATION AND WELLBEING 16 Freetrailer Group A/S | Quarterly Report Q2 | 1 October 2025 – 31 December 2025
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SIGNIFICANT EVENTS IN Q2 2025/2026 Financial calendar 30 March 2026 Annual Report 2025 29 April 2026 Annual General Meeting 2026 22 May 2026 Q1 Report 2026 28 August 2026 Q2 Report 2026 26 November 2026 Q3 rReport 2026 25 February 2027 Q4 Report 2026 Events during the reporting period 1 October 2025 Freetrailer sets another record in Q1 2025/2026. 8 October 2025 Notice of the Annual General Meeting of Freetrailer Group A/S. 20 October 2025 Freetrailer enters into a strategic partnership with Het Goed in the Netherlands. 24 October 2025 Freetrailer delivers a record result in Q1 and publishes guidance for the first half of 2025/2026. 4 December 2025 Freetrailer Group A/S – filing regarding a transaction by a person discharging managerial responsibilities on 26 September 2025. 9 December 2025 Freetrailer enters into a multi-year partnership with Granngården, with more than 120 trailers to be rolled out across Sweden. Events after the end of the quarter 5 January 2026 Freetrailer surpasses 1,000,000 users and delivers 18.3% growth in rentals in Q2 2025/2026. 25 February 2026 Freetrailer has extended its multi-year business relationship with one of the world’s largest furniture retailers. Audit This quarterly report has not been audited by the Company’s auditors. 17 Freetrailer Group A/S | Quarterly Report Q2 | 1 October 2025 – 31 December 2025
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STATEMENT FROM THE MANAGEMENT AND BOARD It is our assessment that this interim report provides a true and fair view of the Group’s financial position as at 31 December 2025. Copenhagen Ø, 26 February 2026 Executive Management Nicolai Frisch Erichsen Group CEO Board of Directors Thomas Zeihlund Chairman of the Board of Directors Anders Birk Jensen Board member Charlotte Bender Board member Jesper Genter Lohmann Board member Kræn Østergård Nielsen Board member 18 Freetrailer Group A/S | Quarterly Report Q2 | 1 October 2025 – 31 December 2025
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QUARTERLY REPORT Q2 | 1 October 2025 – 31 December 2025 GROUP INCOME STATEMENT DKK YTD 01-07-2025 31-12-2025 YTD 01-07-2024 31-12-2024 Q2 01-10-2025 31-12-2025 Q2 01-10-2024 31-12-2024 Last full year 2024/2025 Net revenue 76,203,087 61,598,724 34,451,307 28,351,902 129,491,284 Other operating income 64,739 0 64,739 0 273,944 Costs for raw materials and auxiliary materials -13,640,306 -21,567,941 -7,199,914 -10,490,280 -21,573,874 Other external costs -11,001,182 -8,894,891 -6,025,875 -4,974,258 -19,572,067 Gross profit/loss 51,626,338 31,135,892 21,290,257 12,887,364 88,619,287 Staff costs -21,425,342 -16,691,362 -11,588,906 -9,159,045 -37,897,423 Depreciation and amortisation of tangible and intangible fixed assets -16,034,450 -2,031,838 -8,807,417 -1,034,776 -25,615,614 Other operating costs 0 -82,667 0 -82,667 -82,667 EBIT 14,166,546 12,330,025 893,934 2,610,876 25,023,583 Income from shares in affiliated and associated companies 0 0 0 0 0 Financial income 204,788 690,814 90,185 372,714 742,446 Financial expenses -1,941,451 -69,008 -1,171,936 -34,720 -2,147,772 Profit/loss before tax 12,429,883 12,951,831 -187,817 2,948,870 23,618,257 Tax on profit/loss for the year -3,228,857 -3,178,753 -282,230 -875,606 -5,817,713 Profit/loss for the year 9,201,026 9,773,078 -470,047 2,073,264 17,800,544 19
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GROUP BALANCE ASSETS DKK 31-12-2025 31-12-2024 Last full year 2024/2025 Intangible fixed assets 9,272,609 4,407,415 7,310,383 Intangible fixed assets 9,272,609 4,407,415 7,310,383 Other property, plant and equipment 68,761,975 15,836,146 62,874,241 Fixtures and furnishings in leased premises 420,011 77,941 322,392 Tangible fixed assets 69,181,986 15,914,087 63,196,633 Shares in capital of affiliated companies 0 0 0 Deposits 1,094,026 924,715 937,215 Financial fixed assets 1,094,026 924,715 937,215 Fixed assets 79,548,621 21,246,217 71,444,231 Raw materials and auxiliary materials 3,328,139 2,692,821 3,342,781 Inventories 3,328,139 2,692,821 3,342,781 Receivables from sales and services 18,308,144 4,536,382 14,290,582 Receivables from affiliated companies 0 0 0 Corporation tax receivable 0 0 0 Other receivables 3,889,888 1,827,135 7,704,162 Tax receivables from affiliated companies 0 0 Accruals 4,566,742 2,974,422 3,389,634 Receivables 26,764,774 9,337,939 25,384,378 Cash and cash equivalents 34,652,641 39,143,928 30,509,500 Current assets 64,745,554 51,174,688 59,236,659 Assets 144,294,175 72,420,905 130,680,890 GROUP BALANCE LIABILITIES DKK 31-12-2025 31-12-2024 Last full year 2024/2025 Company capital 7,258,181 7,178,493 7,258,181 Reserve for net revaluation according to the intrinsic value method 0 0 0 Provision for development costs 7,232,635 1,777,968 5,702,096 Profit carry-forward 42,393,427 43,297,864 31,053,477 Equity 56,884,243 52,254,325 44,013,754 Provisions for deferred tax 3,143,572 1,093,047 2,628,039 Provisions for shares in affiliated companies 0 0 0 Provisions 3,143,572 1,093,047 2,628,039 Lease liabilities 25,418,784 0 23,907,495 Non-current liabilities 25,418,784 0 23,907,495 Current portion of long-term debt obligations 26,158,309 0 21,586,950 Debt to banks 5,604 18,233 3,601 Advance payments received from customers 6,490,121 8,344,478 11,082,625 Suppliers of goods and services 12,083,320 3,086,606 13,731,358 Debts with affiliated companies 0 0 0 Corporate income tax 3,066,760 3,593,542 4,115,065 Other debts, including taxes due and social security contributions 11,043,462 4,030,674 9,612,003 Current debt liabilities 58,847,576 19,073,533 60,131,602 Debt liabilities 84,266,360 19,073,533 84,039,097 Liabilities 144,294,175 72,420,905 130,680,890 Freetrailer Group A/S | Quarterly Report Q2 | 1 October 2025 – 31 December 2025 20
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GROUP CASH FLOW STATEMENT DKK 01-07-2025 31-12-2025 01-07-2024 31-12-2024 0 1 - 0 7 - 2 0 2 4 30-06-2025 Profit/loss 9,201,026 9,773,078 17,800,544 Tax on profit/loss 3,228,857 3,178,753 5,817,713 Profit/loss from subsidiaries 0 0 0 Reversed depreciation 16,034,450 2,031,838 25,615,614 Reversed other operating expenses and other operating income 0 82,667 -191,277 Receivables -1,380,396 1,793,183 -14,253,255 Equity adjustment 0 0 -127,627 Intermediate subsidiaries 0 0 0 Inventories 14,642 -321,744 -971,704 Accounts payable -1,648,038 -1,018,540 9,626,212 Other debts -3,083,735 -3,377,072 5,807,422 Cash flow from ordinary operations 22,366,805 12,142,163 49,123,642 Paid corporation tax -3,273,651 -2,114,442 -2,253,955 Cash flow from operating activities 19,093,154 10,027,721 46,869,687 Investments Acquisitions/disposals of assets -21,695,842 -4,419,286 -32,280,382 Deposits -156,811 -550,215 -562,715 Financial fixed assets 0 0 0 Cash flow from investing activities -21,852,653 -4,969,501 -32,843,097 Financing Line of credit 2,003 12,447 -2,184 Changes in lease liabilities 3,796,461 0 -1,151,673 Purchase of treasury shares 0 0 -19,999,994 Sale of treasury shares 3,104,176 0 0 Capital increase, share capital and unrestricted reserves 0 463,838 4,227,338 Capital costs 0 0 -200,000 Cash flow from financing activities 6,902,639 476,285 -17,126,513 Total 4,143,141 5,534,505 -3,099,923 Cash and cash equivalents beginning of period 30,509,500 33,609,423 33,609,423 Cash and cash equivalents end of period 34,652,641 39,143,928 30,509,500 Net cash flow 4,143,141 5,534,505 -3,099,923 21 Freetrailer Group A/S | Quarterly Report Q2 | 1 October 2025 – 31 December 2025
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PARENT COMPANY INCOME STATEMENT DKK YTD 01-07-2025 31-12-2025 YTD 01-07-2024 31-12-2024 Q2 01-10-2025 31-12-2025 Q2 01-10-2024 31-12-2024 Last full year 2024/2025 Net revenue 12,713,347 8,987,922 6,337,434 4,493,430 19,710,542 Other operating income 0 0 0 0 0 Costs for raw materials and auxiliary materials 0 -715,935 0 -715,935 0 Other external costs -16,968,796 -9,887,079 -9,207,279 -4,727,011 -24,444,260 Gross profit/loss -4,255,448 -1,615,092 -2,869,844 -949,516 -4,733,718 Staff costs 0 -235,289 0 -235,289 0 Depreciation and amortisation of tangible and intangible fixed assets -1,232,202 -509,522 -669,158 -296,771 -1,277,548 Other operating costs 0 -82,667 0 -82,667 0 EBIT -5,487,650 -2,442,570 -3,539,002 -1,564,243 -6,011,266 Income from shares in affiliated and associated companies 15,032,451 11,487,147 3,47,042 3,171,082 23,875,334 Financial income 191,098 246,554 191,098 157,625 100,184 Financial expenses -2,241,157 -1,507 -1,991,938 -839 -2,000,152 Profit/loss before tax 7,494,742 9,289,624 -1,692,800 1,763,625 15,964,100 Tax on profit/loss for the year 1,706,284 483,454 1,222,753 309,639 1,836,444 Profit/loss for the year 9,201,026 9,773,078 -470,047 2,073,264 17,800,544 22 Freetrailer Group A/S | Quarterly Report Q2 | 1 October 2025 – 31 December 2025
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PARENT COMPANY BALANCE ASSETS DKK 31-12-2025 31-12-2024 Last full year 2024/2025 Intangible fixed assets 9,272,609 4,407,415 7,310,383 Intangible fixed assets 9,272,609 4,407,415 7,310,383 Other property, plant and equipment 954,943 241,803 1,045,017 Fixtures and furnishings in leased premises 420,011 77,941 322,392 Tangible fixed assets 1,374,954 319,744 1,367,409 Shares in capital of affiliated companies 100,215,410 67,500,693 82,972,793 Deposits 939,060 924,715 937,215 Financial fixed assets 101,154,470 68,425,408 83,910,008 Fixed assets 111,802,032 73,152,567 92,587,800 Raw materials and auxiliary materials 0 0 0 Inventories 0 0 0 Receivables from sales and services 0 0 0 Receivables from affiliated companies 5,467,031 0 2,172,104 Corporation tax receivable 0 0 0 Other receivables 2,256,926 1,849,807 6,097,673 Tax receivables from affiliated companies 2,123,572 5,769,614 5,035,840 Accruals 217,557 640,063 241,678 Receivables 10,065,086 8,259,484 13,547,295 Cash and cash equivalents 671,155 150,345 89,206 Current assets 10,736,241 8,409,830 13,636,501 Assets 122,538,273 81,562,396 106,224,301 PARENT COMPANY BALANCE LIABILITIES DKK 31-12-2025 31-12-2024 Last full year 2024/2025 Company capital 7,258,181 7,178,493 7,258,181 Reserve for net revaluation according to the intrinsic value method 75,015,200 48,285,016 75,015,200 Provision for development costs 7,232,635 1,777,968 5,702,096 Profit carry-forward -32,621,773 -4,987,152 -43,961,723 Equity 56,884,242 52,254,325 44,013,754 Provisions for deferred tax 2,219,791 518,718 1,802,503 Provisions for shares in affiliated companies 2,640 0 2,175 Provisions 2,222,431 518,718 1,804,678 Lease liabilities 0 0 0 Non-current liabilities 0 0 0 Current portion of long-term debt obligations 0 0 0 Debt to banks 0 0 239 Advance payments received from customers 0 0 0 Suppliers of goods and services 294,597 262,557 196,772 Debts with affiliated companies 62,547,003 26,574,186 58,345,470 Corporate income tax 0 1,920,110 1,763,388 Other debts, including taxes due and social security contributions 590,000 32,500 100,000 Current debt liabilities 63,431,600 28,789,353 60,405,869 Debt liabilities 63,431,600 28,789,353 60,405,869 Liabilities 122,538,273 81,562,396 106,224,301 Freetrailer Group A/S | Quarterly Report Q2 | 1 October 2025 – 31 December 2025 23
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PARENT COMPANY CASH FLOW STATEMENT DKK 01-07-2025 31-12-2025 01-07-2024 31-12-2024 0 1 - 0 7 - 2 0 2 4 30-06-2025 Profit/loss 9,201,026 9,773,078 17,800,544 Tax on profit/loss -1,706,284 -483,454 -1,836,444 Profit/loss from subsidiaries -15,032,451 -11,487,147 -23,875,334 Reversed depreciation 1,232,202 509,522 1,277,548 Reversed other operating expenses and other operating income 0 82,667 0 Receivables 3,864,868 -737,621 -4,587,102 Equity adjustment 0 0 0 Intermediate subsidiaries 3,819,339 7,791,271 33,345,222 Inventories 0 0 0 Accounts payable 97,825 -472,106 -537,891 Other debts 1,200,656 -334,699 964,141 Cash flow from ordinary operations 2,677,180 4,641,511 22,550,684 Paid corporation tax -1,783,796 -1,846,000 2,480,895 Cash flow from operating activities 893,384 2,795,511 25,031,579 Investments Acquisitions/disposals of assets -3,201,972 -2,599,017 -7,317,675 Deposits -1,845 -550,215 -562,715 Financial fixed assets -211,554 0 -1,016,692 Cash flow from investing activities -3,415,371 -3,149,232 -8,897,082 Financing Line of credit -239 -238 1 Changes in lease liabilities 0 0 0 Purchase of treasury shares 0 0 -19,999,994 Sale of treasury shares 3,104,176 0 0 Capital increase, share capital and unrestricted reserves 0 463,838 4,227,338 Capital costs 0 0 0 Cash flow from financing activities 3,103,937 463,600 -15,772,655 Total 581,949 109,879 361,842 Cash and cash equivalents beginning of period 89,206 40,466 40,466 Cash and cash equivalents end of period 671,155 150,345 402,308 Net cash flow 581,949 109,879 361,842 24 Freetrailer Group A/S | Quarterly Report Q2 | 1 October 2025 – 31 December 2025
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CONTACT Freetrailer Group A/S Gladsaxe Møllevej 67-69 DK-2860 Søborg Email: aktie@freetrailer.com www.freetrailer.com Spotlight Stock Market: MTF Shares ISIN: FREETR – DK0061026119