Slides
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YSTAD 2023 SEB NORDIC SEMINAR 2026 January 7, 2025 MAGNUS SÖDERLIND– CEO
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“The ancestor ofstock market rockets” 2 October, 2021
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B&B WALKS / YSTAD / 2023 1906 1976 2001 2017 2018–19 2020– B&B founded Listed on the stock Spin off – Lagercrantz Spin off – Momentum Regroup Profit expansion exchange & Addtech Group 500 MSEK Lagercrantz: Momentum: Profit (EBIT) ~25BN Market Cap ~4BN Market Cap Addtech: ~50BN Market Cap Addlife: ~15BN Market Cap 1906 Company founded 1976 Listed on the stock exchange ~50BN ~20BN ~95BNMarket Cap Market Cap Market Cap LAGERCRANTZ ADDLIFE MOMENTUM GROUPADDTECH 2001 Spin off -Lagercrantz & Addtech 2017 Spin off -Momentum Group 2018-19 ‘Regroup’ 2020- Profit expansion ALLIGO ~6BN Market Cap ~9BN Market Cap MOMENTUM Group SWEDOL B&B 136 kr Jun 2001 ∑B&B SEK 12340* CAGR 22% * 250515
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B&B -A WARREN BUFFET TURBO B&B 15%
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Self financed 15% EBITA growth PA
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23 CONSECUTIVE QUARTERS WITH INCREASED EBITA MSEK% 6 37 57 64 66 68 73 78 81 84 88 91 84 103 104 105 107 110 116 119 120 121 125 130 133 0 20 40 60 80 100 120 140 0 2 4 6 8 10 12 14 Q3 19/20 Q4 Q1 20/21 Q2 Q3 Q4 Q1 21/22 Q2 Q3 Q4 Q1 22/23 Q2 Q3 Q4 Q1 23/24 Q2 Q3 Q4 Q1 24/25 Q2 Q3 Q4 Q1 25/26 Q2 EBITA EBITA % 94 EBITA (adjusted) increased by 11 percent EBITA margin (adjusted) 11.8 percent (10.5)
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STRATEGY With a decentralized governance model, striving for leading positions in: Current companies; organic & add-on acquisitions growth New niches; acquisitions of profitable niche companies with growth opportunities
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THE B&B PLAY BOOK - 2 CENTRALIZED PROCESSES A serial acquires primer Capital allocation current platforms Disciplined, rule-based acquisition process
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F CUS MODEL - POSITION BY COMPANY P/WC NO ADD-ONS ADD-ONS 25% ADD-ONS!SELECTIVE ADD-ONS ? 45% 8 7 6 5 4 3 2 PROFIT GROWTH POTENTIAL JUST PROFITABILITY Improve product/customer mix & Reduce costs BEFORE INCREASE TURNOVER PROFIT GROWTH WITH MAINTAINED PROFITABILITY by Growing top line PROFITABILITY FIRST, THEN PROFIT GROWTH ’LICENS TO GROW’ 7 237
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5,021(4,798) Revenue, MSEK 509 (465) EBITA, MSEK 10.1(9.7) EBITA, % 2.5 (2.1) Net Debt/EBITDA excl. IFRS16 8.30 (7.50) AdjustedEarningsper shareafterdilution, SEK 529 (596) OperatingCashFlow, MSEK 36 AUTONOMOUS COMPANIES R12Sep 25(R12 Sep 24) CoreSolutions Revenue1,728 MSEK– Adj EBITA191 MSEK – EBITAmargin11.1% Safety Technology Revenue1,602 MSEK– Adj EBITA142 MSEK – EBITAmargin8.9% Industrial Equipment Revenue1,716 MSEK– Adj EBITA193 MSEK – EBITAmargin11.2% Adjusted for non-recurring items
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CORE SOLUTIONS EssdeckMax Puts warped boards in place 60 % smaller head - esthetic Cylindrical head – doesn’t crack the wood Nail It Indoor Half the assembly time Less post -processing –50 %waste 20 % fewer rules 930 Revenue(MSEK) Inline average margin % 140 Employees Nordic market leader fixing & fastening Every day,over 5 million ESSVEscrews are sold Solution examples
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SAFETY TECHNOLOGY Leading specialist within height safety solutions Designs, develops, manufactures and sells rescue and fall protection products Add-on acquistions 400 Revenue(MSEK) Above average margin % 175 Employees
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Orbital Fabrications Market leader in delivering high-quality gas systems to demanding, high-spec sectors https://www.orbitalfabrications.co.uk/iaaps-limited-hydrogen-test-facility-university-of-bath/ 210 Revenue(MSEK) Above average margin % 80 Employees INDUSTRIAL EQUIPMENT
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PRIORITIES GOING FORWARD WHAT WE ALWAYS DO Prioritizing profit expansion over revenue expansion Company-by-company strategy – B&B Focus Model guides Group capital allocation Group support – B&B Tool Box Acquisition of highly profitable B2B companies with leading positions in growing niche markets ”500/ten/45”
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ACQUIRED MSEK 420 REVENUE WITH PROFIT MARGIN > 15% APR-DEC 2025 45 Revenue (MSEK)______________ >>>15 EBIT % >>45% P/WC Apr 25 90 Revenue (MSEK)______________ >15 EBIT % >>45% P/WC Apr 25 30 Revenue (MSEK)______________ ~15 EBIT % 45% P/WC May 15 130 Revenue (MSEK)______________ >>15 EBIT % >>45% P/WC Jul 15 40 Revenue (MSEK)______________ >>>15 EBIT % >>45% P/WC Aug 1 25 Revenue (MSEK)______________ >>15 EBIT % >>45% P/WC Oct 1 50 Revenue (MSEK)______________ >>15 EBIT % >>>45% P/WC Nov 3
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Capital allocation current platforms Disciplined, rule-based acquisitions PRIORITIES GOING FORWARD - WHAT WE ALWAYS DO
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THANK YOU FOR LISTENING BERG– Q3 REPORT – FEB 4, 2026