Interim report
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INTERIM REPORT JANUARY 1 – JUNE 30, 2025 Continued improvement in margins and profit The companies within AddLife continue to develop in line with our priorities. Margins are strengthening in both business areas thanks to continuous development of product portfolios and good cost control. Growth was strong in Labtech, and in Medtech, demand was steadily increasing, but was held back somewhat, mainly due to the timing of capital investments in certain countries. Our acquired companies are contributing further to the positive development of margins and growth. Profit for the period improved by 39 percent in the quarter. Fredrik Dalborg, President and CEO SECOND QUARTER Net sales increased by 1 percent to SEK 2,578m (2,554). The organic growth, excluding exchange rate changes, was 3 percent and the acquired growth was 2 percent. EBITA excl. one-off costs increased by 5 percent to SEK 307m (292), corresponding to an EBITA margin of 11,9 percent (11.4). Profit after tax increased by 39 percent to SEK 100m (72). Earnings per share amounted to SEK 0.83 (0.60). Cash flow from operating activities amounted to SEK 119m (195). In April, the acquisition of Edge Medical Ltd., United Kingdom, was completed. The acquisition is expected to contribute annual net sales of approximately SEK 90m. JANUARY – JUNE, 2025 Net sales increased by 3 percent to SEK 5,280m (5,124). The organic growth, excluding exchange rate changes, was 4 percent and the acquired growth was 1 percent. EBITA increased by 10 percent to SEK 650m (590), corresponding to an EBITA margin of 12.3 percent (11.5). Profit after tax increased by 63 percent to SEK 220m (135). Earnings per share amounted to SEK 1.81 (1.11). Earnings per share for the last 12 months amounted to SEK 2.76 (0.97). Cash flow from operating activities amounted to SEK 359m (292). The equity ratio was 41 percent (41). Return on working capital (P/WC) amounted to 53 percent (51). 1
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Q2 Q2 ∆ Jan-Jun Jan-Jun ∆ Jul 2024- Full year SEKm 2025 2024 % 2025 2024 % Jun 2025 2024 Net sales 2,578 2,554 1 5,280 5,124 3 10,442 10,286 EBITA 307 299 3 650 590 10 1,219 1,159 EBITA margin, % 11.9 11.7 12.3 11.5 11.7 11.3 Adjusted EBITA 307 292 5 650 589 10 1,226 1,165 Adjusted EBITA margin, % 11.9 11.4 11.9 11.5 11.7 11.3 Profit/loss before taxes 146 113 29 318 213 49 510 405 Profit for the period 100 72 39 220 135 63 339 254 Earnings per share (EPS), before/after dilution, SEK 0.83 0.60 38 1.81 1.11 63 2.76 2.06 Cash flow from operating activities 119 195 -39 359 292 23 1,162 1,095 NET SALES (SEKM) Quarter Rolling 12 months 2020 2021 2022 2023 2024 2025 0 600 1,200 1,800 2,400 3,000 0 2,200 4,400 6,600 8,800 11,000 EBITA (SEKM) Quarter Rolling 12 months 2020 2021 2022 2023 2024 2025 0 90 180 270 360 450 0 300 600 900 1,200 1,500 2
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COMMENTS BY THE CEO Continued improvement in margins and profit Strengthened Margins and Improved Results Improved margins are our highest priority, and during the quarter, margins were clearly strengthened in both business areas. EBITA increased by 10 percent, adjusted for currency fluctuations. This is a result of the continuous update of product portfolios towards more advanced and differentiated products and services. The companies also demonstrated good cost control, while efficiency improvements and structural changes are having an effect, which means that margins are improving even if volumes may vary in the short term. This, together with lower debt and declining interest rates compared to the previous year, led to a significantly improved profit. Organic and Acquired Growth Organic and acquired growth, adjusted for currency effects, amounted to a total of 5 percent in the quarter. Growth was strong within Labtech, significantly higher than market growth, despite continued caution regarding capital investments in academic research. Growth was driven by won tenders, improved prices, and the launch of new products. In Medtech, organic growth was somewhat lower, mainly due to fewer days with planned surgery, changes in the product portfolio, and some hesitation regarding capital investments in healthcare, especially in the UK. Several new products were introduced during the quarter and are expected to contribute to future growth. The acquisition of Edge Medical at the beginning of the quarter contributed to growth, and with support from other companies within AddLife, new products are expected to be added to the product portfolio. Summary and Outlook The companies within AddLife are delivering in line with our priorities and are strengthening their market positions based on strong customer relationships, competent and reliable service organisations, and advanced products. AddLife’s companies have their customers mainly in healthcare and research, areas where demand is stable and generally insensitive to economic fluctuations. With over 90 percent of sales and 80 percent of suppliers within Europe, we are also well positioned in a market situation characterized by uncertainty regarding global trade. Healthcare systems in Europe are striving to improve efficiency and patient quality of life by increased use of digital solutions, robotics, personalized medicine, near patient diagnostics and treatment and reducing waiting lists. These initiatives align very well with the evolving product portfolios and services provided by the AddLife companies. After several quarters of strong cash flow, net debt has decreased significantly, enabling a gradual increase in the pace of acquisitions. During the second quarter, inventory levels remained constant despite significant sales growth. Accounts receivable increased, driven by strong sales at the end of the quarter. During the quarter, Edge Medical was acquired, a company that meets the acquisition criteria we have defined. Payment for this acquisition, combined with dividends and negative currency effects, resulted in a slight increase in debt during the quarter. AddLife will, during the current and next year, gradually increase acquisition activity in line with our strategies and criteria, while maintaining our previously communicated ambition to keep leverage, measured as Net Debt/EBITDA, around 3.0 or lower. 3
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AddLife is planning for a combination of organic and acquired growth and has, during the quarter, developed detailed growth plans and initiated further efforts to continue developing our staff and organisation for future growth. The business has developed well during the first half of the year, the companies within AddLife are well-positioned, and the outlook for the rest of the year is good. I would like to thank all employees for your great commitment and dedicated work, and wish everyone a wonderful summer! Fredrik Dalborg President and CEO 4
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GROUP DEVELOPMENT Group development SECOND QUARTER Net sales in the quarter increased by 1 percent to SEK 2,578m (2,554). The growth, excluding exchange rate effects, amounted to 5 percent, of which organic growth was 3 percent and acquired growth was 2 percent. Exchange rate effects had a negative impact with 4 percent on net sales during the quarter, corresponding to SEK -110m. Increased net sales with improved gross margin and good cost control resulted in adjusted EBITA increased to SEK 307m (292) , and the EBITA margin amounted to 11.9 percent (11.4). Adjusted EBITA excluding currency effects increased by 10 percent. Currency effects had a negative impact on EBITA by 5 percent, corresponding to SEK -14m. Adjusted EBITA is cleared of a reversed contingent consideration of SEK 7m in the previous year. Net financial items amounted to SEK -54m (-79) and profit after financial items amounted to SEK 146m (113). Net financial items primarily include interest expenses related to financing of previous acquisitions and exchange rate fluctuations. Interest expenses amounted to SEK -52m (-76) and exchange rate losses to SEK -0m (3). The profit after tax increased by 39 percent to SEK 100m (72) and the effective tax rate was 29 percent (38). The slightly high effective tax rate is attributable to the effect of non-deductible interest. SEKm NET SALES QUARTER 2,5542,554 8484 5050 -110-110 2,5782,578 Q2 2024 Organic Acquisitions Currency Q2 2025 2,300 2,400 2,500 2,600 2,700 SEKm EBITA QUARTER 299299 1010 1212 -14-14 307307 Q2 2024 Organic Acquisitions Currency Q2 2025 250 300 350 5
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JANUARY – JUNE, 2025 Net sales in the interim period increased by 3 percent to SEK 5,280m (5,124). The growth, excluding exchange rate changes, amounted to 5 percent, of which organic growth was 4 percent and acquired growth was 1 percent. Exchange rate changes had a negative impact of 2 percent on net sales in the interim period, corresponding to SEK -116m. EBITA amounted to SEK 650m (590), and the EBITA margin was 12.3 percent (11.5). EBITA growth excluding currency effects amounted to 12 percent, of which currency effects had a negative impact on EBITA by 2 percent, corresponding to SEK -14m. Net financial items amounted to SEK -117m (-165) and profit after financial items amounted to SEK 318m (213). Net financial items mainly include interest costs related to financing of previous acquisitions and exchange rate fluctuations. Net interest amounted to SEK -109m (-152) and exchange rate losses to SEK -1m (-6). The profit after tax increased by 63 percent to SEK 220m (135) and the effective tax rate was 30 percent (36). The slightly high effective tax rate is attributable to the effect of non-deductible interest costs. The geopolitical situation in Ukraine and the Middle East has not had any significant economic impact on the financial reports, but it cannot be ruled out that it may do so in the future. With approximately 90 percent of sales and 80 percent of purchases in Europe, AddLife should not be heavily exposed to tariffs and trade barriers by the USA or by other countries as countermeasures. However, there is a risk that subcontractors and components further down the supply chain may be subject to tariffs or trade barriers. We are closely monitoring market developments regarding inflation, tariffs and trade barriers, raw material, component and freight costs, as well as interest rate trends. SEKm NET SALES JANUARY – JUNE 5,1245,124 196196 7676 -116-116 5,2805,280 June, 2024 Organic Acquisitions Currency June, 2025 5,000 5,100 5,200 5,300 5,400 5,500 SEKm EBITA JANUARY – JUNE 590590 5555 1919 -14-14 650650 June, 2024 Organic Acquisitions Currency June, 2025 500 600 700 6
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Financial position and cash flow The equity ratio at the end of the interim period was 41 percent (41). Equity per share totalled SEK 43.22 (43.54) and the return on equity at the end of the interim period was 7 percent (5). Return on working capital (P/WC) amounted to 53 percent (51). The Group's interest-bearing net debt at the end of the interim period amounted to SEK 4,873m (4,920), including pension liabilities of SEK 62m (62), leasing liabilities of SEK 518m (531) and contingent considerations corresponding to SEK 107m (106). Outstanding bank loans at the end of the interim period amounted to SEK 4,410m (4,434), of which short- term bank loans were SEK 1,925m (749). The Group has a good margin in the covenants applicable under the banking agreements, which stipulate an interest coverage ratio of at least 4.0 times and an equity ratio exceeding 25 percent. As of the end of the interim period, the interest coverage ratio was 6.8 times according to the definition in the bank agreements. The net debt/equity ratio was 0.9 compared to 0.9 at the beginning of the interim period. The intention is to reduce debt through self-generated cash flow. Cash and cash equivalents, consisting of cash and bank balances, together with approved but non-utilised credit facilities, totalled SEK 1,147m (1,311) on June 30, 2025. The cash flow from current operations during the quarter amounted to SEK 119m (195) and during the interim period to SEK 359m (292), attributable to a higher result after financial items. Working capital for the quarter amounted to SEK -180m (-80). Despite sales growth, inventory remained constant and the change is explained by increased accounts receivable and decreased accounts payable. During the interim period, payments for company acquisitions amounted to SEK 138m (-) and contingent considerations related to previous years' company acquisitions amounted to SEK 51m (41). Net investments in non-current assets during the interim period amounted to SEK 122m (127) and are mainly attributable to investments in instruments for rental to customers. Exercised, issued and repurchased call options amounted to SEK 0m (-12). A dividend of SEK 91m (61) has been paid to the parent company´s shareholders. LONG TERM FINANCIAL GOALS *Adjusted for one-off costs PROFITABILITY P/WC (%) Rolling 12 months Target 45% 2023 2024 2025 0 25 50 75 PROFIT GROWTH (%) Rolling 12 months* Target 15% 2023 2024 2025 -15 0 15 30 7
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Acquisitions Acquisitions completed from the 2024 financial year are distributed among the Group’s business areas as follows: Net Sales, Number of Company Country Time SEKm* employees* Business area BonsaiLab S.L. Spain July, 2024 90 13 Labtech Edge Medical Ltd. UK April, 2025 90 20 Medtech 180 33 *Refers to conditions at the time of acquisition on a full-year basis. On April 1, 2025, all shares in the UK company Edge Medical Ltd. were acquired. Edge Medical is a leading distributor in orthopedic surgery, spinal surgery, and neurology, with operations in the UK and Irish market. The company has an annual net sales of approximately GBP 8m with high margin and about 20 employees. Preliminary purchase price allocation The assets and liabilities included in the acquired business during the financial year 2025 amount, according to the preliminary purchase price allocation, are as follows: Fair value Total Intangible non-current assets 62 Other non-current assets 14 Inventories 21 Other current assets 44 Deferred tax liability/tax asset -19 Other liabilities -27 Acquired net assets 95 Goodwill 166 Consideration¹ 261 Less: Cash and cash equivalents in acquired businesses -21 Contingent consideration not yet paid -54 Holdback -48 Effect on the Group’s cash and cash equivalents 138 ¹The consideration is stated excluding acquisition expenses. Acquired companies The purchase price allocations are preliminary as the net assets of the acquired companies have not yet been finally analyzed. For this year’s acquisition, the purchase considerations have exceeded the carrying amounts of the net assets in the acquired companies, resulting in the recognition of intangible assets in the purchase price allocations. Goodwill The goodwill arising from the acquisition is attributable to the expectation that the Group’s position in the relevant market will be strengthened, as well as the expertise developed in the acquired companies. Contingent consideration The total undiscounted contingent consideration for the acquired company during the year may amount to a maximum of SEK 116m over the next four years. The outcome of contingent considerations is determined by the future earnings reached by the companies and is subject to a fixed maximum level. Contingent considerations from acquisitions in previous years have been paid out during the interim period in the amount of SEK 51m, relating to DACH Medical, BonsaiLab, and Emmat Medical. Holdback Part of the purchase price withheld by the buyer as security for potential claims against the seller, will be paid to the seller according to the agreed payment plan. The withheld parts of the purchase price are independent of conditions linked to the future performance of the acquired companies. 8
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Transaction costs Transaction costs for acquisitions amount to a total of SEK 8m and are recognized in selling expenses. Revenue and profit in the acquired company The acquisition completed during the year have, from the acquisition date, in total affected the Group’s net sales by SEK 24m and EBITA by SEK 7m. If the acquired company in 2025 had been consolidated as of January 1, 2025, net sales and EBITA would have been estimated at SEK 47m and SEK 10m, respectively. Acquisitions after the end of the interim period No acquisitions have been completed after the end of the interim period. Employees At the end of the interim period, the number of employees was 2,322, compared to 2,256 at the beginning of the financial year. The average number of employees for the last 12-month period was 2,299 (2,305). 9
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BUSINESS AREA Labtech Companies in the Labtech business area are active in the market areas diagnostics, biomedical research and laboratory equipment. Q2 Q2 ∆ Jan-Jun Jan-Jun ∆ Jul 2024- Full year SEKm 2025 2024 % 2025 2024 % Jun 2025 2024 Net sales 985 941 5 1,974 1,804 9 3,967 3,797 Organic growth, % 6 8 9 2 – 3 EBITA 122 109 12 242 208 16 479 445 EBITA margin, % 12.4 11.6 12.2 11.5 12.1 11.7 Labtech's net sales increased by 5 percent in the second quarter to SEK 985m (941). Growth, excluding currency effects, amounted to 9 percent, of which organic growth was 6 percent and acquired growth was 3 percent. Exchange rate changes had a negative impact on net sales by 4 percent. EBITA increased by 12 percent to SEK 122m (109), corresponding to an EBITA margin of 12.4 percent (11.6). Exchange rate fluctuations had a negative impact on EBITA, corresponding to SEK -4m. NET SALES QUARTER 941941 5757 2525 -38-38 985985 Q2 2024 Organic Acquisitions Currency Q2 2025 800 900 1,000 1,100 10
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Labtech’s net sales in the interim period increased by 9 percent to SEK 1,974m (1,804), of which organic sales increased by 9 percent and acquired growth amounted to 3 percent. Exchange rate changes had a negative impact on net sales by 3 percent. EBITA increased by 16 percent to SEK 242m (208), corresponding to an EBITA margin of 12.2 percent (11.5). Labtech had a strong second quarter, with high growth and improved margins. Demand from customers in diagnostics is stable and growing. Growth and margin improvements were driven by tenders won from competitors as well as tenders where trust was renewed, but at higher prices. The companies’ activities in areas such as veterinary medicine, Alzheimer’s diagnostics, point of care, advanced molecular diagnostics, and digital pathology also contributed positively to the development. In academic research, there is still some hesitation, and sales cycles for larger capital investments remain long, while sales of consumables and reagents continue to drive growth. Sales to customers in the industrial sector are steadily increasing. During the quarter, training and experience sharing between the companies took place, focusing on gene sequencing (NGS). This is an area characterized by rapid development and strong growth. Several companies are carrying out targeted efforts to streamline internal processes, which are expected to strengthen profitability over time. NET SALES JANUARY – JUNE 1,8041,804 162162 5252 -44-44 1,9741,974 June, 2024 Organic Acquisitions Currency June, 2025 1,700 1,800 1,900 2,000 2,100 NET SALES (SEKM) Quarter Rolling 12 months 2020 2021 2022 2023 2024 2025 0 300 600 900 1,200 1,500 1,800 0 1,000 2,000 3,000 4,000 5,000 NET SALES PER MARKET 2025 Sweden, 17% Italy, 15% Norway, 11% Denmark, 10% Finland, 10% Austria, 4% Czech Republic, 4% Germany, 3% Netherlands, 3% Poland, 3% Rest of Europe, 15% Rest of the world, 5% 11
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EBITA (SEKM) Quarter Rolling 12 months 2020 2021 2022 2023 2024 2025 0 60 120 180 240 300 0 220 440 660 880 1,100 EBITA MARGIN (%) Quarter, % Rolling 12 months, % 2020 2021 2022 2023 2024 2025 0 5 10 15 20 25 0 5 10 15 20 25 12
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BUSINESS AREA Medtech Companies in the Medtech business area provide medical device products within the medtech market and assistive equipment within Homecare. Q2 Q2 ∆ Jan-Jun Jan-Jun ∆ Jul 2024- Full year SEKm 2025 2024 % 2025 2024 % Jun 2025 2024 Net sales 1,594 1,615 -1 3,308 3,323 0 6,481 6,496 Organic growth, % 2 7 1 8 – 7 EBITA 198 200 0 429 398 8 777 746 EBITA margin, % 12.4 12.3 13.0 12.0 12.0 11.5 Net sales within Medtech decreased marginally to SEK 1,594m (1,615) during the second quarter. Growth, excluding currency effects, amounted to 4 percent, of which organic growth was 2 percent and acquired growth was 2 percent. Exchange rate changes had a negative impact on net sales by 5 percent. EBITA amounted to SEK 198m (200), corresponding to an EBITA margin of 12.4 percent (12.3). Exchange rate changes had a negative impact on EBITA, corresponding to SEK -11m. EBITA for the previous year was positively affected by a reversed contingent consideration of SEK 7m. Adjusted for this, EBITA increased by 3 percent and the EBITA margin in the previous year was 11.9 percent. NET SALES QUARTER 1,6151,615 2525 2424 -70-70 1,5941,594 Q2 2024 Organic Acquisitions Currency Q2 2025 1,500 1,600 1,700 13
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Medtech’s net sales in the interim period amounted to SEK 3,308m (3,323). Organic growth amounted to 1 percent and acquired growth amounted to 1 percent. Exchange rate changes had a negative impact on net sales by 2 percent. EBITA increased by 8 percent to SEK 429m (398), corresponding to an EBITA margin of 13.0 percent (12.0). The number of surgical procedures at the beginning of the quarter was lower compared to the previous year because Easter fell in April this year (in March the previous year). In addition, Spain and Portugal experienced power outages during the quarter, which led to the cancellation of scheduled surgical procedures. In some countries, a decline in the number of surgical procedures was also observed at the end of June ahead of the summer. Some hesitation regarding capital investments is noted, particularly in the UK due to uncertainty about future budgets, and to some extent in the Nordics due to slow procurement processes. In several countries, changes to product portfolios are underway, with products being phased out and new ones being launched. This process can, during a transition period, lead to higher inventory levels and a temporary decrease in sales. Over time, the renewal of product portfolios is expected to contribute to increased growth and improved margins. Strong growth was noted in highly specialized areas such as pain management, interventional radiology, and spinal surgery. The work of analyzing, selecting, and introducing products in the area of robotic surgery continues and is expected to have great future potential. In ophthalmic surgery, sales grew and margins are gradually improving. Products with low profitability are being phased out, relationships with key suppliers have been strengthened, and new advanced products have been added. However, the progress takes time and significant improvement potential remains. The acquisition of Edge Medical is developing well, and there is potential to further broaden the product portfolio with support from other companies within AddLife. The quarter was affected by transaction costs for the acquisition, and Edge Medical is expected to contribute positively to results from the third quarter of 2025. NET SALES JANUARY – JUNE 3,3233,323 3333 2424 -72-72 3,3083,308 June, 2024 Organic Acquisitions Currency June, 2025 3,200 3,300 3,400 NET SALES (SEKM) Quarter Rolling 12 months 2020 2021 2022 2023 2024 2025 0 360 720 1,080 1,440 1,800 0 1,120 2,240 3,360 4,480 5,600 6,720 NET SALES PER MARKET 2025 Ireland, 20% UK, 19% Spain, 16% Sweden, 8% Norway, 7% Switzerland, 5% Germany, 5% Denmark, 4% Italy, 3% Finland, 2% Austria, 2% Rest of Europe, 6% Rest of the world, 3% 14
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EBITA (SEKM) Quarter Rolling 12 months 2020 2021 2022 2023 2024 2025 0 60 120 180 240 300 140 280 420 560 700 840 EBITA MARGIN (%) Quarter, % Rolling 12 months, % 2020 2021 2022 2023 2024 2025 0 4 8 12 16 20 0 4 8 12 16 20 15
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FINANCIAL INFORMATION BY BUSINESS AREA Quarterly data Net sales by business area 2025 2024 SEKm Q2 Q1 Q4 Q3 Q2 Q1 Labtech 985 989 1,141 852 941 863 Medtech 1,594 1,714 1,679 1,494 1,615 1,708 Group items -1 -1 -2 -2 -2 -1 The Group 2,578 2,702 2,818 2,344 2,554 2,570 EBITA by business area 2025 2024 SEKm Q2 Q1 Q4 Q3 Q2 Q1 Labtech 122 120 161 76 109 99 Medtech 198 231 195 153 200 198 Group items -13 -8 -10 -6 -10 -6 EBITA 307 343 346 223 299 291 Adjusted EBITA / Adjusted EBITA margin by business area 2025 2024 SEKm Q2 Q1 Q4 Q3 Q2 Q1 Labtech 122 120 161 76 109 99 Medtech 198 231 195 160 193 204 Parent Company and Group items -13 -8 -10 -6 -10 -6 Adjusted EBITA 307 343 346 230 292 297 2025 2024 % Q2 Q1 Q4 Q3 Q2 Q1 Labtech 12.4 12.1 14.1 8.9 11.6 11.5 Medtech 12.4 13.5 11.6 10.7 11.9 11.9 The Group’s adjusted EBITA margin 11.9 12.7 12.3 9.8 11.4 11.6 16
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Net sales and EBITA Net sales by business area Q2 ∆ Q2 Jan-Jun ∆ Jan-Jun Jul 2024- Full year SEKm 2025 % 2024 2025 % 2024 Jun 2025 2024 Labtech 985 5 941 1,974 9 1,804 3,967 3,797 Medtech 1,594 -1 1,615 3,308 0 3,323 6,481 6,496 Group items -1 -2 -2 -3 -6 -7 The Group 2,578 1 2,554 5,280 3 5,124 10,442 10,286 EBITA / EBITA margin by business area and operating profit for the Group Q2 Q2 Jan-Jun Jan-Jun Jul 2024- Full year SEKm 2025 2024 2025 2024 Jun 2025 2024 Labtech 122 109 242 208 479 445 Medtech 198 200 429 398 777 746 Group items -13 -10 -21 -16 -37 -32 EBITA 307 299 650 590 1,219 1,159 Depreciation and write-down intangible assets -107 -107 -215 -212 -441 -438 Operating profit 200 192 435 378 778 721 Finance income and expenses -54 -79 -117 -165 -268 -316 Profit after financial items 146 113 318 213 510 405 Q2 Q2 Jan-Jun Jan-Jun Jul 2024- Full year % 2025 2024 2025 2024 Jun 2025 2024 Labtech 12.4 11.6 12.2 11.5 12.1 11.7 Medtech 12.4 12.3 13.0 12.0 12.0 11.5 EBITA margin 11.9 11.7 12.3 11.5 11.7 11.3 Operating margin 7.8 7.5 8.2 7.4 7.4 7.0 Net sales by revenue type Q2 Q2 Jan-Jun Jan-Jun Jul 2024- Full year SEKm 2025 2024 2025 2024 Jun 2025 2024 Products 704 694 1,435 1,314 2,802 2,681 Instruments 211 181 390 345 845 800 Services 70 66 149 145 320 316 Labtech 985 941 1,974 1,804 3,967 3,797 Products 1,343 1,406 2,716 2,705 5,293 5,282 Instruments 100 45 275 287 537 549 Services 151 164 317 331 651 665 Medtech 1,594 1,615 3,308 3,323 6,481 6,496 Group items -1 -2 -2 -3 -6 -7 The Group 2,578 2,554 5,280 5,124 10,442 10,286 17
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Sales per country Q2 Q2 Jan-Jun Jan-Jun Jul 2024- Full year SEKm 2025 2024 2025 2024 Jun 2025 2024 UK 300 306 655 706 1,278 1,329 Ireland 322 306 668 648 1,294 1,274 Sweden 298 276 597 552 1,142 1,097 Spain 281 262 564 494 1,055 985 Norway 226 224 451 424 870 843 Italy 190 171 393 328 744 679 Denmark 158 181 332 342 749 759 Finland 136 137 268 268 558 558 Rest of Europe 567 597 1,177 1,164 2,436 2,423 Rest of the World 100 94 175 198 316 339 Total 2,578 2,554 5,280 5,124 10,442 10,286 18
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FINANCIAL INFORMATION Condensed consolidated income statement Q2 Q2 Jan-Jun Jan-Jun Jul 2024- Full year SEKm 2025 2024 2025 2024 Jun 2025 2024 Net sales 2,578 2,554 5,280 5,124 10,442 10,286 Cost of sales -1,574 -1,581 -3,252 -3,183 -6,496 -6,427 Gross profit 1,004 973 2,028 1,941 3,946 3,859 Selling expenses -644 -623 -1,278 -1,238 -2,529 -2,489 Administrative expenses -155 -152 -302 -302 -595 -595 Research and Development -14 -18 -29 -41 -64 -76 Other operating income and expenses 9 12 16 18 20 22 Operating profit 200 192 435 378 778 721 Financial income and expenses -54 -79 -117 -165 -268 -316 Profit after financial items 146 113 318 213 510 405 Tax -46 -41 -98 -78 -171 -151 Profit for the period 100 72 220 135 339 254 Attributable to: Equity holders of the Parent Company 100 72 219 134 337 252 Non-controlling interests 0 0 1 1 2 2 Earnings per share before dilution, SEK 0.83 0.60 1.81 1.11 2.76 2.06 Earnings per share after dilution, SEK 0.83 0.60 1.81 1.11 2.76 2.06 Average number of shares after repurchases, '000s 121,864 121,864 121,864 121,862 121,864 121,863 Number of shares at end of the period, '000 121,864 121,864 121,864 121,864 121,864 121,864 EBITA 307 299 650 590 1,219 1,159 Depreciations and write-down included in operating expenses: Property, plant and equipment -94 -91 -186 -184 -376 -374 Intangible non-current assets from acquisitions -97 -98 -195 -195 -394 -394 Other intangible non-current assets -10 -9 -20 -17 -47 -44 19
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Consolidated statement of comprehensive income Q2 Q2 Jan-Jun Jan-Jun Jul 2024- Full year SEKm 2025 2024 2025 2024 Jun 2025 2024 Profit for the period 100 72 220 135 339 254 Components that may be reclassified to profit for the period: Foreign currency translation differences for the period 139 -36 -170 120 -123 167 Components that can not be reclassified to profit for the period: Revaluations of defined benefit pension plans – – – – 1 1 Tax attributable to items not to be reversed in profit or loss – – – – 0 0 Other comprehensive income 139 -36 -170 120 -122 168 Total comprehensive income 239 36 50 255 217 422 Attributable to: Equity holders of the Parent Company 239 36 50 254 216 420 Non-controlling interests 0 0 0 1 1 2 Condensed consolidated balance sheet Jun 30 Jun 30 Dec 31 SEKm 2025 2024 2024 Goodwill 5,559 5,410 5,537 Other intangible non-current assets 2,202 2,533 2,403 Property, plant and equipment 1,141 1,112 1,147 Financial non-current assets 31 151 39 Total non-current assets 8,933 9,206 9,126 Inventories 1,719 1,720 1,724 Current receivables 1,846 1,859 1,874 Cash and cash equivalents 253 242 331 Total current assets 3,818 3,821 3,929 Total assets 12,751 13,027 13,055 Total equity 5,268 5,141 5,309 Interest-bearing provisions 91 179 93 Non-interest-bearing provisions 349 395 374 Non-current interest-bearing liabilities 2,915 2,911 4,092 Non-current non-interest-bearing liabilities 32 5 2 Total non-current liabilities 3,387 3,490 4,561 Interest-bearing provisions – – 87 Non-interest-bearing provisions 45 43 54 Current interest-bearing liabilities 2,119 2,468 979 Current non-interest-bearing liabilities 1,932 1,885 2,065 Total current liabilities 4,096 4,396 3,185 Total equity and liabilities 12,751 13,027 13,055 20
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Condensed consolidated statement of changes in equity Jan 1 – Jun 30, 2025 Jan 1 – Dec 31, 2024 SEKm Equity excl. non- controlling interests Non- controlling interests Total equity Equity excl. non- controlling interests Non- controlling interests Total equity Amount at beginning of period 5,306 3 5,309 4,958 2 4,960 Exercised and issued call options – – – -12 – -12 Share-based payments 2 – 2 1 – 1 Dividend -91 -2 -93 -61 -1 -62 Total comprehensive income 50 0 50 420 2 422 Amount at the end of the period 5,267 1 5,268 5,306 3 5,309 Condensed consolidated statement of cash flows Q2 Q2 Jan-Jun Jan-Jun Jul 2024- Full year SEKm 2025 2024 2025 2024 Jun 2025 2024 Profit after financial items 146 113 318 213 510 405 Adjustment for items not included in cash flow 200 192 386 353 816 783 Income tax paid -47 -30 -91 -59 -169 -137 Changes in working capital -180 -80 -254 -215 5 44 Cash flow from operating activities 119 195 359 292 1,162 1,095 Net investments in non-current assets -58 -66 -122 -127 -276 -281 Acquisitions and disposals -176 -32 -189 -39 -254 -104 Change in other financial assets 0 0 0 0 -1 -1 Cash flow from investing activities -234 -98 -311 -166 -531 -386 Dividend paid to shareholders -91 -61 -91 -61 -91 -61 Dividend paid to non-controlling interests -2 -1 -2 -1 -2 -1 Exercised and issued call options – – – -12 – -12 Borrowings/repayment of borrowings, net 111 -20 107 -14 -303 -424 Repayments on lease liability -46 -45 -92 -90 -184 -182 Other financing activities 0 0 0 1 -3 -2 Cash flow from financing activities -28 -127 -78 -177 -583 -682 Cash flow for the period -143 -30 -30 -51 48 27 Cash and cash equivalents at beginning of period 368 280 331 272 242 272 Exchange differences on cash and cash equivalents 28 -8 -48 21 -37 32 Cash and cash equivalents at end of the period 253 242 253 242 253 331 21
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Key figures Rolling 12 months ending Jun 30 Dec 31 Jun 30 Dec 31 Dec 31 2025 2024 2024 2023 2022 Net sales, SEKm 10,442 10,286 9,987 9,685 9,084 EBITDA, SEKm 1,595 1,533 1,488 1,504 1,530 EBITA, SEKm 1,219 1,159 1,112 1,135 1,221 EBITA margin, % 11.7 11.3 11.1 11.7 13.4 Adjusted EBITA, SEKm 1,226 1,165 1,075 1,015 1,124 Adjusted EBITA margin, % 11.7 11.3 10.8 10.5 12.3 Profit growth EBITA, % 10 2 -4 -7 -4 Return on working capital (P/WC), % 53 51 48 50 61 Profit for the period, SEKm 339 254 120 192 483 Return on equity, % 7 5 2 4 10 Financial net liabilities, SEKm 4,873 4,920 5,317 5,192 5,410 Financial net liabilities/EBITDA, multiple 3.1 3.2 3.6 3.5 3.5 Net debt/equity ratio, multiple 0.9 0.9 1.0 1.0 1.1 Equity ratio, % 41 41 39 39 38 Average number of employees 2,299 2,311 2,305 2,284 2,157 Number of employees at end of the period 2,322 2,256 2,322 2,301 2,219 Definitions can be found here. Key ratios per share Attributable to owners of the parent Jun 30 Dec 31 Jun 30 Dec 31 Dec 31 2025 2024 2024 2023 2022 Earnings per share (EPS), before dilution, SEK¹ 2.76 2.06 0.97 1.56 3.96 Earnings per share (EPS), after dilution, SEK¹ 2.76 2.06 0.97 1.56 3.95 Cash flow per share from operating activities, SEK¹ 9.52 8.98 7.21 6.35 7.46 Shareholders' equity per share, SEK 43.22 43.54 42.17 40.69 40.76 Average number of shares after repurchases, '000s¹ 121,864 121,863 121,859 121,856 121,779 Average number of shares adjusted for repurchases and dilution, '000s¹ 121,864 121,863 121,859 121,861 122,254 Number of shares outstanding at end of the period, '000s 121,864 121,864 121,864 121,857 121,836 Number of shares outstanding at end of the period after dilution, '000s 121,864 121,864 121,864 121,857 122,312 ¹Presented in rolling 12 months 22
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Parent company The Parent Company’s net sales for the interim period amounted to SEK 36m (37) and profit after financial items amounted to SEK 117m (-36). At the end of the interim period the Parent Company's net financial debt amounted to SEK 4,373m (4,393). The share capital at the end of the interim period was SEK 62m (62). Parent Company condensed income statement Q2 Q2 Jan-Jun Jan-Jun Jul 2024- Full year SEKm 2025 2024 2025 2024 Jun 2025 2024 Net sales 18 18 36 37 74 75 Administrative expenses -34 -29 -60 -51 -113 -104 Operating profit -16 -11 -24 -14 -39 -29 Interest income/expenses and similar items -61 69 141 -22 137 -26 Profit after financial items -77 58 117 -36 98 -55 Appropriations – – – – 135 135 Profit/loss before taxes -77 58 117 -36 233 80 Tax 21 – -15 – -15 0 Profit for the period -56 58 102 -36 218 80 Parent Company condensed balance sheet Jun 30 Jun 30 Dec 31 SEKm 2025 2024 2024 Intangible non-current assets 0 0 0 Property, plant and equipment 0 0 0 Financial non-current assets 8,041 7,685 8,059 Total non-current assets 8,041 7,685 8,059 Current receivables 419 480 361 Total current assets 419 480 361 Total assets 8,460 8,165 8,420 Restricted equity 62 62 62 Unrestricted equity 2,663 2,561 2,650 Total equity 2,725 2,623 2,712 Non-current interest-bearing liabilities 2,520 2,564 3,741 Non-current non-interest-bearing liabilities 2 2 2 Total non-current liabilities 2,522 2,566 3,743 Current interest-bearing liabilities 3,170 2,948 1,919 Current non-interest-bearing liabilities 43 28 46 Total current liabilities 3,213 2,976 1,965 Total equity and liabilities 8,460 8,165 8,420 23
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OTHER INFORMATION Accounting policies The interim report has been prepared in accordance with IFRS Accounting Standards, applying IAS 34 Interim Financial Reporting. Disclosures according to IAS 34.16A are presented not only in the financial statements and accompanying notes but also in other parts of the interim report. The Parent Company's interim report has been prepared in accordance with the Swedish Annual Accounts Act and the Securities Market Act which is in compliance with recommendation RFR 2 Accounting for Legal Entities. The same accounting principles and calculation methods as in AddLife's 2024 annual report have been applied to the interim report. Changes in IFRS standards applicable from January 1, 2025, have not had any impact on AddLife's financial statements for the interim period ended June 30, 2025. Comparative figures in the interim report for income statement items refer to the value for the period January–June 2024, and for balance sheet items as of December 31, 2024, unless otherwise stated. Information on Global Minimum Tax The Group is covered by the OECD's model rules for Pillar II. The Group's exposure to the legislation under Pillar II has been calculated and analyzed. The company assesses that the effect is not material in the second quarter of 2025. Risks and uncertainties AddLife’s earnings and financial position, as well as its strategic position, are affected by various internal factors within AddLife’s control and various external factors over which AddLife has limited influence. AddLife’s most significant external risks are the state of the economy and market trends combined with public sector contracts and policy decisions, as well as competition. The risks and uncertainties are the same as in previous periods. For more information, see the section “Risks and uncertainties” in the administration report, in AddLife’s annual report 2024. The parent company is indirectly affected by the above risks and uncertainties through its function in the Group. The geopolitical situation in Ukraine and the Middle East has not had any significant economic impact on the financial reports, but it cannot be ruled out that it may do so in the future. With approximately 90 percent of sales and 80 percent of purchases in Europe, AddLife should not be heavily exposed to tariffs and trade barriers by the USA or by other countries as countermeasures. However, there is a risk that subcontractors and components further down the supply chain may be subject to tariffs or trade barriers. We are closely monitoring market developments regarding inflation, tariffs and trade barriers, raw material, component and freight costs, as well as interest rate trends. Transactions with related parties No transactions with related parties that materially affected the Group’s financial position and earnings took place during the interim period. 24
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Financial instruments Fair values on financial instruments The fair value and carrying amount are recognized in the balance sheet as shown in the table below. For quoted securities, the fair value is determined on the basis of the asset’s quoted price in an active market, level 1. At the reporting date the Group had no items in this category. For currency contracts and embedded derivatives, the fair value is determined on the basis of observable market data, level 2. For contingent considerations, a cash flow-based valuation is performed, which is not based on observable market data, level 3. For the Group’s other financial assets and liabilities, fair value is estimated to essentially correspond to the carrying amount. Jun 30, 2025 Dec 31, 2024 Carrying Carrying SEKm amount Level 2 Level 3 amount Level 2 Level 3 Derivatives measured at fair value through profit or loss 0 0 – 0 0 – Total financial assets at fair value per level 0 0 – 0 0 – Derivatives measured at fair value through profit or loss 0 0 – 0 0 – Contingent considerations 107 – 107 106 – 106 Total financial liabilities at fair value per level 107 0 107 106 0 106 Contingent considerations Q2 Q2 Jan-Jun Jan-Jun Jul 2024- Full year SEKm 2025 2024 2025 2024 Jun 2025 2024 Amount at beginning of period 90 82 106 87 41 87 Acquisitions during the period 54 – 54 – 116 62 Consideration paid -38 -34 -51 -41 -55 -45 Revaluation through profit or loss – – – – 3 3 Reversed through profit or loss – -7 – -7 – -7 Interest expenses 1 0 1 0 3 2 Exchange differences 0 0 -3 2 -1 4 Amount at the end of the period 107 41 107 41 107 106 Pledged assets and contingent liabilities Jun 30 Jun 30 Dec 31 SEKm 2025 2024 2024 Contingent liabilities 52 53 52 Significant events after the end of the interim period No significant events for the Group have occurred after the end of the interim period. 25
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Affirmation The Board of Directors and the President deem that the interim report gives a true and fair picture of the Company's and the Group's operations, position and earnings, and describes the significant risks and uncertainty factors to which the Company and the Group are exposed. Stockholm July 15, 2025 Johan Sjö Chairman of the Board Birgit Stattin Norinder Director Kristina Patek Director Eva Nilsagård Director Eva Elmstedt Director Stefan Hedelius Director Fredrik Dalborg President and CEO This interim report has not been subject to review by the company's auditors. 26
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Definitions Number of employees at the end of the period The number of employees in the Group at the end of the reporting period, taking into account the degree of employment. This measure is used to know how many employees the Group has at the end of the year. Return on equity Profit/loss after tax attributable to shareholders, as a percentage of shareholders' proportion of average equity. Return on equity measures from an ownership perspective the return that is given on the owners' invested capital. Return on working capital (P/WC) EBITA in relation to average working capital. P/WC is used to analyse profitability and encourage high EBITA earnings and low working capital requirements. EBITA Operating profit before amortization and write-down of intangible assets. EBITA is used to analyse profitability generated by operational activities. EBITA margin EBITA as a percentage of net sales. The EBITA margin is used to analyze value creation from the operating activities. EBITDA Operating profit before depreciation, amortization and write-down. EBITDA is used to analyse profitability generated by operational activities. Equity per share Shareholders' proportion of equity divided by the number of shares outstanding at the end of the reporting period. Financial net Financial income minus financial expenses. Used to describe the development of the Group's financial activities. Acquired growth Changes in net sales attributable to business acquisitions compared to the same period the previous year. Acquired growth is used as a component to describe the development of the Group's net sales, where acquired growth is distinguished from organic growth, divestments, and currency effects. Adjusted EBITA EBITA excluding one-off costs. Increases the comparability of EBITA over time as it is adjusted for the impact of items considered to be non-recurring in nature and therefore do not reflect the underlying operations. Adjusted EBITA margin Adjusted EBITA in relation to net sales. Used to measure the company's profitability excluding the impact of items considered to be non-recurring in nature and therefore do not reflect the underlying operations. One-off costs Primarily refers to restructuring costs and revaluation of contingent considerations. Other non-recurring items may also be reported as one-off costs if this provides a more accurate view of the underlying operating result. 27
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Cash flow from operating activities per share Cash flow from operating activities, divided by the average number of shares. The measure is used to allow investors to easily analyze the amount of surplus from ongoing operations generated per share. Net investments in fixed assets Investments in fixed assets minus sales of fixed assets. The measure is used to analyze the Group's investments in the renewal and development of tangible fixed assets. Net debt/equity ratio Financial net liabilities in relation to shareholders’ equity. Net debt/equity ratio is used to analyse financial risk. Organic growth Changes in net sales excluding currency effects and acquisitions/divestments compared to the same period the previous year. Organic growth is used to analyze the underlying sales growth driven by changes in volume, product range, and price for similar products between different periods. Profit after financial items Profit/loss for the period before tax. Used to analyse the business’ profitability including financial activities Earnings per share Shareholders' share of the period's result divided by the number of shares outstanding at the end of the reporting period. Earnings per share before dilution Shareholders' share of the period's result divided by the average number of outstanding shares. Earnings per share after dilution Shareholders' share of the period's result divided by a weighted average of the number of outstanding shares, adjusted for the additional number of shares upon the exercise of outstanding options. Profit growth EBITA The period's EBITA decreased by previous period's EBITA divided by the previous period's EBITA. Profit growth EBITA is used to analyse asset-creating generated from operational activities. Financial net liabilities Interest-bearing liabilities and interest-bearing provisions, less cash and cash equivalents. Net debt is used to monitor debt development and analyse financial leverage and any necessary refinancing. Financial net liabilities/EBlTDA Financial net liabilities divided by EBITDA. Financial net liabilities compared with EBITDA provides a key financial indicator for financial net liabilities in relation to cash-generated operating profit; i.e., an indication of the ability of the business to pay its debts. This measure is generally used by financial institutions as a measure of creditworthiness. Working capital Sum of inventories and accounts receivable, less accounts payable. In the calculation of P/WC, average working capital is used. Working capital is used to analyse how much working capital is tied up in the business. Equity ratio Equity including minority interest as a percentage of total assets. The equity ratio is used to analyse financial risk and shows how much of the assets are financed with equity. 28
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Alternative performance measures This report contains financial key figures in accordance with the frameworks applied by AddLife, which are based on IFRS. In addition, there are alternative performance measures (APM) that cannot be directly extracted or derived from the financial statements. These key figures are essential for understanding and evaluating AddLife's operations and financial position. They should not be seen as a replacement for the measures defined according to IFRS but rather as a complement to the financial reporting. Since not all companies calculate financial measures in the same way, these are not always comparable with measures used by other companies. The key figures are presented below and commented on in other parts of the interim report. Return on equity Jun 30 Jun 30 Dec 31 SEKm 2025 2024 2024 Profit/loss for the period (roll 12 months) 339 120 254 Average equity 5,198 5,154 5,147 Return on equity, % 7 2 5 Return on working capital (P/WC) Jun 30 Jun 30 Dec 31 SEKm 2025 2024 2024 EBITA (roll 12 months) 1,219 1,112 1,159 Inventories, average 1,748 1,778 1,743 Accounts receivable, average 1,556 1,506 1,537 Accounts payable, average -1,024 -952 -996 Working capital, average 2,280 2,332 2,284 Return on working capital, % 53 48 51 EBITA and EBITDA Q2 Q2 Jan-Jun Jan-Jun Jul 2024- Full year SEKm 2025 2024 2025 2024 Jun 2025 2024 Operating profit 200 192 435 378 778 721 Amortization and impairment of intangible assets 107 107 215 212 441 438 EBITA 307 299 650 590 1,219 1,159 Depreciation and impairment of tangible assets 94 91 186 184 376 374 EBITDA 401 390 836 774 1,595 1,533 Adjusted EBITA Q2 Q2 Jan-Jun Jan-Jun Jul 2024- Full year SEKm 2025 2024 2025 2024 Jun 2025 2024 EBITA 307 299 650 590 1,219 1,159 One-off costs Restructuring reserve Camanio – – – 6 4 10 Revalued contingent consideration – -7 – -7 3 -4 Adjusted EBITA 307 292 650 589 1,226 1,165 29
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EBITA margin / Adjusted EBITA margin Q2 Q2 Jan-Jun Jan-Jun Jul 2024- Full year SEKm 2025 2024 2025 2024 Jun 2025 2024 EBITA 307 299 650 590 1,219 1,159 Net sales 2,578 2,554 5,280 5,124 10,442 10,286 EBITA margin, % 11.9 11.7 12.3 11.5 11.7 11.3 Adjusted EBITA 307 292 650 589 1,226 1,165 Adjusted EBITA margin, % 11.9 11.4 12.3 11.5 11.7 11.3 Organic growth Labtech Medtech The Group¹ Q2 Q2 Q2 Q2 Q2 Q2 % 2025 2024 2025 2024 2025 2024 Total growth 4.8 7.8 -1.4 8.0 0.9 8.0 (-) Currency effect -4.0 0.1 -4.5 0.8 -4.2 0.5 (-) Acquired growth 2.7 – 1.5 – 1.9 – Organic growth 6.1 7.7 1.6 7.2 3.2 7.5 Labtech Medtech The Group¹ Q2 Q2 Q2 Q2 Q2 Q2 SEKm 2025 2024 2025 2024 2025 2024 Total growth 44 69 -21 119 24 189 (-) Currency effect -38 1 -70 11 -110 12 (-) Acquired growth 25 – 24 – 50 – Organic growth 57 68 25 108 84 177 Labtech Medtech The Group¹ Jan-Jun Jan-Jun Jan-Jun Jan-Jun Jan-Jun Jan-Jun % 2025 2024 2025 2024 2025 2024 Total growth 9.4 1.5 -0.5 9.0 3.0 6.3 (-) Currency effect -2.4 0.1 -2.2 1.2 -2.3 0.8 (-) Acquired growth 2.8 – 0.7 – 1.5 – Organic growth 9.0 1.4 1.0 7.8 3.8 5.5 Labtech Medtech The Group¹ Jan-Jun Jan-Jun Jan-Jun Jan-Jun Jan-Jun Jan-Jun SEKm 2025 2024 2025 2024 2025 2024 Total growth 170 27 -15 273 156 302 (-) Currency effect -44 3 -72 34 -116 37 (-) Acquired growth 52 – 24 – 76 – Organic growth 162 24 33 239 196 265 ¹The Group includes eliminations 30
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Profit growth EBITA Jun 30 Jun 30 Dec 31 SEKm 2025 2024 2024 EBITA (roll 12 months) 1,219 1,112 1,159 (-) Previous year's EBITA (rolling 12 months) 1,112 1,158 1,135 EBITA growth 107 -46 24 Profit growth EBITA, % 10 -4 2 Financial net liabilities and Net debt/equity ratio Jun 30 Jun 30 Dec 31 SEKm 2025 2024 2024 Borrowing 4,410 4,793 4,434 Cash and cash equivalents -253 -242 -331 Financial net debt 4,157 4,551 4,103 Pension liability 62 63 62 Lease liability 518 546 531 Contingent considerations 107 41 106 Provisions 29 116 118 Net interest-bearing deb 4,873 5,317 4,920 Total equity 5,268 5,141 5,309 Net debt/equity ratio, multiple 0.9 1.0 0.9 Financial net liabilities/EBlTDA Jun 30 Jun 30 Dec 31 SEKm 2025 2024 2024 Net interest-bearing deb 4,873 5,317 4,920 EBITDA (roll 12 months) 1,595 1,488 1,533 Financial net liabilities/EBITDA, multiple 3.1 3.6 3.2 Equity ratio Jun 30 Jun 30 Dec 31 SEKm 2025 2024 2024 Total equity 5,268 5,141 5,309 Total assets 12,751 13,027 13,055 Equity ratio, % 41 39 41 31
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The share The share capital at the end of the interim period amounted to SEK 62m (62). The number of repurchased own shares amounts to 586,189 Class B, corresponding to 0.5 percent of the total number of shares and 0.4 percent of the votes. The average purchase price for shares held in treasury amounts to SEK 100.56 per share. The average number of treasury shares held during the interim period was 586,189 (588,420). The share price at June 30, 2025 was SEK 188.70. AddLife has a total of two outstanding incentive programs based on call options, corresponding to a total of 355,800 B shares. Issued call options on repurchased shares have resulted in a calculated dilution effect based on average share price for the interim period of approximately 0.0 percent (0.0). During the interim period, the 2021/2025 program expired without impact as the exercise price during the exercise period exceeded the share price. Outstanding programmes Number of warrants Corresponding number of shares Percentage of total number of shares, % Exercise price Exercise period 2023/2027 205,800 205,800 0.2 155.99 Jun 1, 2026 – Feb 26, 2027 2022/2026 150,000 150,000 0.1 250.07 Jun 9, 2025 – Feb 27, 2026 Total 355,800 355,800 AddLife has an outstanding incentive program based on performance shares corresponding to a maximum of 107,760 of the Company's Class B shares, which represents approximately 0.1 percent of the total number of shares. Participants receive performance shares provided that employment continues, the investment shares are retained, and the performance conditions are met. These are based on the average annual profit growth (EBITA) during the period from January 1, 2024, to December 31, 2026, as well as sustainability-related goals. During the interim period, SEK 2m (-) has been expensed as a result of the program. On May 8, 2025, the Annual General Meeting resolved, in accordance with the Board of Directors' proposal, to establish an additional long-term incentive program based on performance shares corresponding to a maximum of 112,300 of the Company's B shares. The investment period is valid until August 29, 2025. Outstanding programmes Number of investment shares Corresponding maximum number of performance shares Percentage of total number of shares, % Vesting period LTIP 2024 22,565 107,760 0.1 Aug 31, 2024 – Aug 31, 2027 32
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On June 30, 2025 the number of shareholders amounted to 12,555, where of 64.71 percent are Swedish owners with respect to capital share. The 10 largest shareholders controlled 54.4 percent of number of capital and 64.5 percent of votes. Share in % Shareholders 2025-06-30 Class A-shares Class B-shares of capital of votes RoosGruppen AB 2,256,408 3,717,339 4.9 16.1 Tom Hedelius 2,066,572 – 1.7 12.6 SEB Fonder – 15,020,932 12.3 9.2 AMF Fonder – 11,248,304 9.2 6.9 Cliens Fonder – 7,223,873 5.9 4.4 Odin Fonder – 7,080,008 5.8 4.3 Första AP-fonden – 6,090,000 5.0 3.7 Fidelity Mutual Funds – 4,373,151 3.6 2.7 Vanguard Funds – 4,298,113 3.5 2.6 Swedband Robur Fonder – 3,279,809 2.7 2.0 Total the 10 biggest shareholders 4,322,980 62,331,529 54.4 64.5 Other shareholders 249,816 54,959,736 45.1 35.1 Total outstanding shares 4,572,796 117,291,265 99.5 99.6 Repurchased own shares Class B – 586,189 0.5 0.4 Total registered shares 4,572,796 117,877,454 100.0 100.0 Source: Euroclear For further information about the share, see AddLife's website: add.life/en/investors/the-share 33
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Video conference Investors, analysts and the media are invited to a video conference where CEO Fredrik Dalborg and CFO Christina Rubenhag will present the interim report. The presentation will be held in English and takes about 20 minutes, after which there will be an opportunity to ask questions. It will be recorded and made available online. The video conference will be held at 9:00 a.m. CEST on July 15, 2025 If you wish to participate via video conference, please follow this link>> The presentation is also available on AddLife YouTube >> Financial calendar The interim report for January 1 – September 30, 2025 will be published on October 23, 2025 The year-end report for January 1 – December 31, 2025 will be published on February 4, 2026 The interim report for January 1 – March 31, 2026 will be published on April 28, 2026 The Annual General Meeting (AGM) of AddLife AB (publ) will be held on May 6, 2026, at 4 p.m. CEST, Stockholm The interim report for January 1 – June 30, 2026 will be published on July 16, 2026 For further information, please contact: Fredrik Dalborg, President and CEO, +46 70 516 09 01 Christina Rubenhag, CFO, +46 70 546 72 22 AddLife's interim report is published in Swedish and in an English translation. The Swedish version takes precedence in the event of any discrepancies between the two versions. ADDLIFE IN BRIEF AddLife is an independent partner in the Life Science industry that offers high-quality products, services and advice to both the private and public sectors in Europe. AddLife has 2,300 employees in about 85 operating subsidiaries. The Group currently has net sales of more than SEK 10 billion. AddLife shares are listed on Nasdaq Stockholm. This information is information that AddLife AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 7:45 a.m. CEST on July 15, 2025. AddLife AB (publ), Box 3145, Brunkebergstorg 5, SE-103 62 Stockholm. info@add.life, www.add.life, org.nr. 556995-8126 34