Slides
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April 29, 2022 Carl-Johan Zetterberg Boudrie, CEO & President Third quarter 2025 October 24, 2025 CEO Peter Heuman and CFO David Granath
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Quarterly Highlights •Q3 delivering higher net sales, gross margin, profitability (adjusted for one-offs) and free cash flow compared to last year •Sales grow in the quarter with 6.0% and 9.4% adjusted for currency •Free cash flow improved to SEK 14.3m (3.3) •New interim CEO appointed Q3 % 2024 2025 Key Figures, SEKm 6.0% 201.7 213.7 Net sales -7.2%6.0% Net sales growth % 42.8%44.2% Gross margin % -7.2% 34.3 31.8 EBITDA 17.0%14.9% EBITDA margin % -13.5% 16.5 14.3 EBIT 8.2%6.7% EBIT margin % -21.0% 10.8 8.6 Profit for the period -23.1% 0.410.32 Earnings per share, SEK 332.6% 3.3 14.1 Free cash flow before acquisitions
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Net Sales & Gross Margin Sales and Gross Margin Q3 2025 Share of Net Sales 201.7 213.7 30%35%40%45%50%050100150200250Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 +6.0% Net Sales Gross Margin 31% 69% Products Services •Sales growth of 6.0% (9.4% adjusted for currency) •Service sales amounted to SEK 147.3m (164.3), a decline of 10.3% negatively impacted by SEK 21.9m from the accounting of financial lease classifications in Sweden •Product sales increased 77.5% to SEK 66.3m (37.4) driven by UK and Germany •Gross margin increased to 44.2% (42.8%) SEKm
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Market Highlights – Nordic & United Kingdom UNITED KINGDOM •Sales increased by 17.1% compared to Q3 2024 •Service sales decreased 11.6% to SEK 40.6m (45.9) and product sales increased 72.9% to SEK 40.8m (23.6) •Gross margin increased to 39.4% (38.0) •Following low volumes last year, product sales gained momentum in the quarter •Sales decreased 14.2% compared to Q3 2024. Excluding impact of financial leases in Sweden, the region grew with 11.0% •Service sales decreased 14.5% to SEK 80.2m (93.8) and product sales at similar level as last year •Gross margin negatively impacted by ramp-up cost to meet new contract requirements in Norway •Norway delivered continued growth while service sales in Sweden was impacted by lower revenue up-front from leasing contracts as previously highlighted NORDIC 97.7 83.8 30%35%40%45%0102030405060708090100Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 -14.2% Net Sales Gross Margin SEKm 4% 96% Products Services 30%35%40%45%50%010203040506070809069.5 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 81.4 +17.1% Net Sales Gross Margin SEKm 50% 50% Products Services
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Market Highlights – Netherlands and Other Markets OTHER MARKETS •Sales increased 96.7% compared to Q3 2024 which were at low levels •Service sales increased 27.5% to SEK 5.6m (4.4) and product sales increased 129.7% to SEK 21.1m (9.2) •Our business in this region is newer and more likely to be affected by variations between quarters, where for examples a major order (or lack of it) can swing the outcome for an entire quarter •Gross margin decreased to 59.0% (61.5) •Sales increased 4.2% compared to Q3 2024 •Service sales increased 3.8% to SEK 21.0m (20.2) and product sales increased from low levels •Gross margin increased to 63.9% (59.6) •The sales increase driven by organic growth based on our strong market position NETHERLANDS 20.9 21.8 40%45%50%55%60%65%0510152025Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 +4.2% Net Sales Gross Margin SEKm 96% 4% Products Services 13.6 26.7 40%45%50%55%60%65%05101520253035Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 +96.7% Net Sales Gross Margin SEKm 79% 21% Products Services
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Profitability Q3 2025 •EBITDA decreased to SEK 31.8m (34.3), corresponding to an EBITDA-margin of 14.9% (17.0) •EBIT decreased to SEK 14.3 (16.5), corresponding to an EBIT-margin of 6.7% (8.2) •Adjusted for one-offs of SEK 4.6m related to management changes, EBIT and EBITDA increased EBITDA and EBITDA% 34.3 31.8 0%5%10%15%20%01020304050Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 EBITDA EBITDA% SEKm EBIT and EBIT% 16.5 14.3 0%2%4%6%8%10%12%051015202530Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 EBIT EBIT% SEKm
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Cash Flow Q3 2025 Free Cash Flow per quarter and rolling twelve months •Cash flow from operating activities amounted to SEK 34.6m (13.6) •Free cash flow amounted to SEK 14.1m (3.3) driven by solid EBIT and improved working capital •Investments in tangible fixed assets were SEK 8.9m higher compared to last year as less contracts were classified as financial lease •Cash position of 28.1m (29.0) •Net debt increased to SEK 183.3m (180.0) 3.3 14.1 56.2 -200204060-100102030Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 27.3 FCF FCF R12 SEKm
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Concluding Remarks Q3 - Positive Q3 - Challenges Q3 – Priorities Ahead •Returned to growth, 9.4% adjusted for currency effect •Underlying growth on all markets •Increased EBIT and EBITDA (adjusted for one-offs of SEK 4.6m) •Improved free cash flow to SEK 14.1m (3.3) •Ramp-up process in Norway to meet new contract requirements affected gross margin negatively in the Nordics •Underlying Nordic business is growing 11%, reported net sales declining 14.2% due to SEK 21.9m more sales classified as financial lease last year •Maintain current positive business momentum •Going live with new contract in Norway •Continue analysis with the aim of unlocking Careium's full potential For 2025, we expect net sales, profitability and free cash flow before acquisitions to increase compared to 2024
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Q&A Next report: February 11, 2026
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Disclaimer This presentation includes forward-looking information and statements including statements concerning the outlook for our businesses. These statements are based on current expectations, estimates and projections about the factors that may affect our future performance, including global economic conditions, and the economic conditions of the markets for Careium. These expectations, estimates and projections are generally identifiable by statements containing words such as “expects,” “believes,” “estimates,” “targets,” “plans,” “outlook,” “on track,” “framework” or similar expressions. Careium provides financial information adjusted for items such as currency effects and one-off cost items solely as supplemental financial information to help investors and the financial community make meaningful comparisons of Careium’s operating results from one financial period to another. These adjustments might not be in accordance with IFRS.