Slides
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Meeting needs beyond tomorrow Meeting needs beyond tomorrow Investor Day 2025 Unlocking Profitable Growth: The road to 15% EBITA margin
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• 09.00 Introduction — Jacob Broberg, Chief Communication and Investor Relations Officer • 09.05 Unlocking profitable growth — Alberto Zanata, President & CEO, Q&A • 10.00 The undisputed leader in Horizontal cooking — Camilla Monefeldt-Kirstein, President Business Area Food Europe, Q&A • 10.30 Coffee break • 10.50 New Laundry Platform: Driving Efficiency, Sustainability & Growth — Paolo Schira, President Business Area Laundry, Q&A • 11.15 Progressing towards our financial targets — Fabio Zarpellon, CFO, Q&A • 11.50 Conclusion Alberto Zanata • 12.00 Lunch 2INVESTOR DAY 2025 Agenda
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Meeting needs beyond tomorrow Unlocking profitable growth CEO Alberto Zanta 3 Meeting needs beyond tomorrow
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We are progressing towards our target • Increased focus on sales and go to market capabilities • Growth will come from new product launches and market growth • Increased efforts on cost savings and efficiency to speed up the progress towards our EBITA-margin target 4INVESTOR DAY 2025 *Excluding items affecting comparability 11.7 7.3 9.0 10.4 11.1 11.6 11.9 0 5 10 15 0 2 4 6 8 10 12 14 2019 2020 2021 2022 2023 2024 R12 Q3 2025 Thousands Net sales SEKbn EBITA margin, % * -0.3% % Part of Electrolux Group -21.0% +16.9% +2.6%+10.6% 0.9%-0.1% Organic growth
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Professional Equipment Industry has demonstrated resilience despite geopolitical instability • Recent challenges like component shortages, inflation, war, and US tariffs have impacted the industry • The industry demonstrated resilience, highlighting the need for a more balanced geographical and business presence INVESTOR DAY 2025 5
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6 The global Professional Equipment Industry 2024 Market size and underlying growth assumptions Source: Company estimates for 2024 Growing market over business cycle USD: ~26 bn Growth: 3-4% Laundry solutions Beverage solutions Food Solutions INVESTOR DAY 2025 USD: ~6 bn Growth: 3-4% USD: ~3.6 bn Growth: 2-3%
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7 Underlying factors influencing market growth are still robust Digitalization (connectivity and interaction services) Sustainability and use of resources Electrification with declining demand of gas- based equipment Regionalization / Nationalization Change in the demographics (+2bn people by 2050, but several countries with decreasing work force) Labor availability and rising operating costs driving automation 7INVESTOR DAY 2025
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Trends in the Professional Equipment Industry 8INVESTOR DAY 2025 Growth of out-of home spending Number of outlets is growing Tourism travel continue to grow Asia growing faster than other markets
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Out-of-Home Foodservice and Hotels are structurally growing *Foodservice Value RSP (Retail Selling Price) **Retail Value RSP (Retail Selling Price) Source: Euromonitor Passport – as reported in September 2025. All values are in “real terms” (constant 2024 prices, fixed 2024 e xchange rates). 2024 2025E 2026E 2027E 2028E 2029E 2,916 2,989 3,063 3,132 3,196 3,253 Global Foodservice – OOH Spending* (€ billion) +2.2% CAGR 24-29E • QSR, cafés and bars growing slightly faster than full-service restaurants 2024 2025E 2026E 2027E 2028E 2029E 670 701 728 754 779 Global Hotel Segment – RSP** (€ billion) +3.9% CAGR 24-29E 642 • Luxury hotels and upscale hotels growing slightly faster than mid market hotels INVESTOR DAY 2025 99
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10 Strategic priorities confirmed with additional contribution from cost and efficiency GROW through innovation Innovation – Sustainability - Energy efficiency - Connected and digital platform. EXPAND in high margin products, segments, and geographies Grow sales organically in laundry, restaurant chains. and cooking. Potential M&A. INVEST in Digitalization to unlock additional customer value and process efficiency BOOST Customer Care & Service as a solution offer Global service network - Increase sales of spare parts, service, consumables. INVESTOR DAY 2025 Streamline of operations to improve profitability
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• R&D is currently higher than normal driven by Laundry and Cooking • Following new product launches we will expand our sales and digital capabilities Product innovation key to drive volume 11INVESTOR DAY 2025 GROW through innovation Induction Neoblue one-touch dishwasher New Laundry platform
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• One Modular Platform, multiple applications • 2026 launch cover 1/3 of laundry volumes • Launch Roadmap 2026 – 2027 • Expand into new segments • Sustainability and Efficiency New Laundry Platform: Driving Efficiency, Sustainability & Growth 12INVESTOR DAY 2025 GROW through innovation Enlarged accessible market and reinforced Technical Leadership
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13 Strengthen our leadership in Horizontal cooking INVESTOR DAY 2025 GROW through innovation • We are a leader in Horizontal cooking in Europe • Increase the margin of one of the most profitable product lines • Enter unsaturated segment with very few players and with higher growth potential 2025 e-XP Liberolight Thermaline free zone induction 2026 Multifunctional cooker compact Next generation Modular cooking line
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14 EXPAND in high margin products, segments and geographies INVESTOR DAY 2025 EXPAND in high margin products, segments, and geographies Exit of • Drip coffee business • Semi-professional refrigeration •Semi-professional cooking in US Strengths in high margin products • Cold beverage • Cooking (mainly induction) and ovens • Laundry Improved profitability due to manufacturing optimization • Swiss made horizontal cooking (Therma) • Espresso coffee Growth in • Chains in the US and Asia • consumer operated Laundry
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• Sales to Chains in the US has grown 13% first nine months of 2025 • In the US, good pipeline of potential roll-outs • Chains growing also outside US, especially in China – Asia where local chains are growing faster • Laundry now also in chains Growth in chains 15INVESTOR DAY 2025 EXPAND in high margin products, segments, and geographies China hood type dishwasher growing in Chinese food chains
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EXPAND in high margin products, segments, and geographies 3% 3% 8% 0% 0% 4% 8% 12% Q4 Q1 2025 Q2 Q3 Organic sales development Food & Beverage Americas 16 • Driven by focus on some key activities — Supporting reps with demonstrations — More customer meetings — Test with more brand, product and category focus • In Q3 2025 sales to Chains grew by 8%, but sales to the general market declined Our US Food&Beverage business returned to growth Despite uncertainty around tariffs INVESTOR DAY 2025
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17 Boost Customer care and Service-as-a-solution offer INVESTOR DAY 2025 BOOST Customer Care & Service as a solution offer Remote service Accessories Consumables Spare Parts 1900 authorized service centres 7000 expert technicians Empowered customer operations with Smart Connectivity
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18 Profitable contract execution: creating value for customers Technician Today Customer Success Technician Tomorrow Repairs Maintenance Installation Warranty Connectivity Detergents Sales 18INVESTOR DAY 2025 BOOST Customer Care & Service as a solution offer Customer Success Technician • Built-in credibility — viewed as experts, not sellers • Time on-site — gets full picture in real-time • Understands customer equipment, service history, and priorities • Already on site, solving a problem, earning trust • Solving Problems customers did not know they had by promoting Connectivity and Detergents
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BOOST Customer Care & Service as a solution offer Customer care growth contributes to profit 19INVESTOR DAY 2025 0 500 1000 1500 2000 2017 2018 2019 2020 2021 2022 2023 2024 Customer care sales development, SEKm • Currently approximately 18% of sales
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Digital technology is transforming our industry streamlining processes for our partners and enhancing the efficiency of our operations. 20INVESTOR DAY 2025 Connected products Digital Customer platform • Back office, e-shop Mobile applications • Sales mobile app, Connectivity, Mobile app, Supporting apps CRM • 360 view of customer data, lead management Marketing technology Marketing automatization, digital customer journey, analytics and insights Digital tools & calculators • Configurator, Usages calculator, Booking tool, Virtual showroom INVEST in Digitalization to unlock additional customer value
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Digital platform development 21INVESTOR DAY 2025 Digital customer platform deployed in 35 countries Where deployed 45% of all customer interactions digitalized Where deployed 85% of our orders go through the platform INVEST in Digitalization to unlock additional customer value • The 35 countries using the Digital platform represents approximately 55% of Group sales
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Digital platform roll out in Italy finalized INVESTOR DAY 2025 94% of orders in Italy are Digital • The Digital Platform is a cloud-based, self-service portal for our distributors and partners. INVEST in Digitalization to unlock additional customer value 22
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• We already see improved productivity using automation and AI for streamlined processes • Projects prioritized by ROI and strategy • Specific focus on AI supported efficiency/automation within Finance, Sales, and Marketing • AI team so far completed 20 efficiency projects • 70% of data ready for cloud AI use • Extensive internal upskilling with trained AI ambassadors • Continuous progress through ongoing training and feedback AI adoption and impact 23INVESTOR DAY 2025 INVEST in Digitalization to unlock additional customer value
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Top Line Growth Revenue Revenue Generation & Innovation/Digital Growth • Coin payment solution • API solution • OPL solution • Service Portal • Chemical & Connectivity Sales • AI & Connectivity Bottom Line Growth Productivity and Efficiency Productivity& Efficiency • Predictive maintenance • Remote troubleshooting and updates • Report Automation • Workflow integration • Product Improvements Customer value created through connected solutions 24INVESTOR DAY 2025
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• Electrolux Professional third-party washers insourced • Office, IT system and legal merger executed • Japanese Combo machines launched in SEA through our own sales organization • Some laundry products moved to Thailand, and Food preparation products imported to Japan are tested and labeled “Tested by TOSEI” to build on brand trust • Electrolux Professional SkyLine combi oven being launched Integration of TOSEI continue in line with plan TOSEI Coin-operated Washer/Dryer Tospack Table-top vacuum solution 25INVESTOR DAY 2025
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Meeting needs beyond tomorrow 26INVESTOR DAY 2025 We are the Sustainability leader of our industry
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• Induction technology is the future of cooking • Less energy use is good for the customers (lower cost) and for the environment • Connectivity enhances efficiency and profitability We bring customer value through our sustainability leadership in Food & Beverage 27INVESTOR DAY 2025 Induction technology Connectivity Neo blue dishwasher
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• Cleaning with water and environmentally friendly detergents (instead of dry-cleaning) • Heat pump technology saving up to 65% energy compared to a vented electrical dryer • New Laundry platform takes sustainability to the next level by tangible reducing total cost of ownership We bring customer value through our sustainability Leadership in Laundry 28INVESTOR DAY 2025 Lagoon Heat pump dryer New Laundry platform
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29 M&A continue to be high on the agenda with a clear focus on acquisition strategy INVESTOR DAY 2025 North America Chains Cooking Technology
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Program launched to streamline our company and improve profitability 30INVESTOR DAY 2025 Increase operational flexibility and further safeguard future resilience Tackling underperforming products by transfer production to increase profitability Strategic competence shift with focus on digital, sales and marketing • To stay competitive and improve profitability • Expected savings of SEK 85m in 2026 and SEK 175m in 2027
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31 → Market development positive in Europe and APAC-MEA – US more cautious → Increased efforts on cost savings and efficiency through new program → Increased profitability through production transfers of categories with currently too low margin → New product launches in Laundry and Cooking → Focus on untapped and unsaturated segments as well as strengths in high margin segments → Competence shift focusing on sales, go to market and digital capabilities → Progressive normalization of R&D cost and Capex → Mix up: Growth in chains and build on strengths in high margin products Summary - contributors to the 15% EBITA-margin Increased focus on sales and cost out INVESTOR DAY 2025
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Meeting needs beyond tomorrow Q&A CEO Alberto Zanta Meeting needs beyond tomorrow
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Meeting needs beyond tomorrow Electrolux Professional Food Europe the undisputed leader in Horizontal cooking Camilla Monefeldt Kirstein, President Business Area Food Europe Meeting needs beyond tomorrow
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Global Professional Food and Beverage equipment market North America South America Far East Europe MEA 37% 27% 27% 4% 1% Market growth in 2024/2025 +1/+2% +4/+5% Estimated Global Professional F&B Equipment Market USD 31.7bn 2024 4% +3/+4% % of Global F&B Equipment market +1% +1/+2% +1% 34INVESTOR DAY 2025
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• Italy is our largest market in Europe • Other key markets include France, Spain, Switzerland and the Nordics • Horizontal cooking, ovens and dishwashing are our largest categories • Restaurants and hotels together with public institutions represent our main customer segments Food Europe setup • Sales organizations in 13 countries but sales to all countries in Europe • Strong service network, mainly through service partners • 4 manufacturing plants • One plant account for 90% of production • +1,100 employees 35INVESTOR DAY 2025
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• Electrolux Professional Group is among the leaders in a fragmented market • We offer products in all three categories • A market where multi-category players and specialists compete • Electrolux Professional is the second largest brand in Food in Europe with high brand recognition A distinctive position as single, multi-category brand Multi-category players Product specialists Multi brand Mainly single brand 36INVESTOR DAY 2025
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Ambition to lead Horizontal Cooking innovation Streamline our portfolio and keep our multi-category edge Accelerate profitable growth of high-margin products in key markets Reignite the innovation journey, future-proofing our Cooking offering 1 2 38INVESTOR DAY 2025
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Accelerating profitable growth of high-margin products in key markets 39INVESTOR DAY 2025 • Improve dealer network management and commercial policies • Work closer with key partners to maximize value • Improved marketing strategy with a stronger digital focus • Upskill the sales organization • Increased focus on product promoters • Increased focus on high- margin products and channels • Rationalize assortment around STAR products • Improve logistics to deliver faster • Relocate Thermaline production to optimize footprint and margins Optimize Go-to-market Effectiveness Drive Commercial Excellence Simplify and Serve Better
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40INVESTOR DAY 2025 • From Switzerland to Italy, where >90% of the Horizontal Cooking range is already produced Relocation of Thermaline A high end, trusted cooking product • Potential synergies with the rest of Horizontal Cooking range, both new products and current ones • Reduction of labor cost and headcount • Allocation of resources to invest in Go-To-Market and Horizontal Cooking innovation
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Source: Internal estimates, Euromonitor, Competitors’ financial statements, Future Market Insights, Efcem, CSIL Horizontal Cooking - a large and growing segment Electrolux Professional holds a strong position • The heart of the kitchen • Large market with solid growth trend • Induction is the fastest growing technology, and we are well- positioned to capture such growth • We are the largest player in Horizontal cooking (Modular/ Custom) • Horizontal cooking is Food Europe’s largest revenue contributor with a high margin Rationales behind Horizontal Cooking ambition INVESTOR DAY 2025 Europe Horizontal Cooking market size Bn USD 2019 2023 2028 ~1,6 ~1,7 ~2,0 Cagr 2% Cagr 3-4% 41
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Where our strengths meet market opportunities Our strengths • Strong position in horizontal Cooking • Induction technology expertise thanks to Adventys acquisition • Recognized as leader in Sustainability Market Trends • A shift from gas to electric • Growing focus on sustainability and efficiency • Digital and connected solutions 42INVESTOR DAY 2025
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Secured induction expertise and re-focused investments towards Cooking innovation Acquisition of Adventys in 2024 • Secured induction expertise through the acquisition • Eliminated dependency on other suppliers 43INVESTOR DAY 2025 Accelerate Horizontal Cooking and Oven innovation • Prioritize R&D investments on cooking
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New product pipeline should drive growth and margin 2025 Sales start: Q1, 2026 • e-XP • LiberoLight • thermaline free-zone induction 2026 • Multifunctional cooker Compact • For the first time integrated in an Horizontal Cooking line • Opening a new segment for us To come • Next generation Modular Cooking • A new line with new features 44INVESTOR DAY 2025
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The innovation pipeline will increase growth in high margin segments Objective LiberoLight e-XP & Thermaline Induction Multifunctional cooker Broaden our reach in the light-duty segment, to capture the under-penetrated cafés/bars & hotel segments Strengthen our induction offering to increase penetration in mass and premium restaurants and hotels Expand current cooking range to grow our presence in restaurants and caterers/high - productivity kitchens Segment coverage Current and future INVESTOR DAY 2025 45
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Meeting needs beyond tomorrow Key takeaways, Food Service Europe 46INVESTOR DAY 2025 →Operates in a large, resilient market, with a distinctive position • Largest single, multi-category brand offering full end-to-end solutions • Leadership in core markets and key categories such as Horizontal Cooking →Improved Go-To-Market strategy • Stronger commercial organization and dealer network management • Revamped commercial toolkit and marketing strategy to get closer to the end-customer →Strengthening our foundation accelerating our ambition in innovation • Bold Horizontal Cooking innovation plan, leveraging our brand strength and induction expertise • Redefining our portfolio, focusing more on cooking while streamlining production footprint
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Meeting needs beyond tomorrow Q&A Camilla Monefeldt-Kirstein, President Business Area Food Europe Meeting needs beyond tomorrow
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INVESTOR DAY 2025 Coffee break, 20 minutes
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Meeting needs beyond tomorrow New Laundry Platform: Driving Efficiency, Sustainability & Growth Paolo Schira, President Business Area Laundry Meeting needs beyond tomorrow
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Professional Laundry Equipment Market 2024 North America Rest of World Europe 34% 34% 32% Estimated professional Laundry Equipment Market: USD 3,6bn (2024) Estimated Market growth 2-3 % % of Global Laundry Equipment market 51INVESTOR DAY 2025
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Professional Laundry - three main segments Source: P&L Competitors – Competitors announcement and Industrial Magazines. Market size (excluding Domestic Appliances) and market shares Official competitors P&L / company internal estimates on the basis of publicly available information, competitors' announcements, news from Laundry Magazines 52INVESTOR DAY 2025 #1 30% Electrolux Professional Group 14%#3 14% #4 13% #5 8% #6 6% Others 15% Professional Laundry Equipment Market 2024 Estimated Market Shares* 3.6 Bn USD Professional Semi-professional Heavy-duty
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Europe is our largest laundry market and washers our largest segment Washers 43% Dryers 22% Customer Care 20% Other 15% Product split Europe 58% Rest of world 25% Americas 17% Region split INVESTOR DAY 2025 53
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Laundry has demonstrated significant growth and improved profitability 472 489 492 627 702 811 856 13.9% 16.0% 15.6% 16.7% 16.6% 16.2% 17.3% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0% 20.0% 2019 2020 2021 2022 2023 2024 R12 Q3 2025EBITA SEKm EBITA% 54INVESTOR DAY 2025 3,386 3,065 3,159 3,747 4,231 4,998 4,956 2019 2020 2021 2022 2023 2024 R12 Q3 2025 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 Laundry net sales, SEKm
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55INVESTOR DAY 2025 In laundromats growing trend of multi outlet investors Electrolux Professional has a strong value proposition Major growth driver in US and Europe Chains becoming more important in Laundry
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A history of Innovations 56INVESTOR DAY 2025 1998 Generation 3000 2007 Generation 4000 2012 Generation 5000 2019 Generation 6000
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The new Laundry Platform will drive growth and entry to new segments 57INVESTOR DAY 2025 Unified Modular Platform New Customer Segments Ultimate productivity Sustainability and efficiency Strategic launch roadmap • Support different product ranges • Phased rollout from H2- 2026 to 2027 for early revenue capture • Reduce Total Cost of Ownership (TCO), and improve productivity • Highest throughput per square meter• Target new customer segments currently having low coverage
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Why now: Strategic rationale & market context 58INVESTOR DAY 2025 Competitive Market evolution Competitors offer lower-cost, washers in the mid-tier high- spin segment Sustainability and efficiency demand Energy-efficient, sustainable washers with lower total operating costs Strategic growth opportunity New platform leverages brand strength and global manufacturing to enable growth
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Building one platform with multiple applications 59INVESTOR DAY 2025 Unified platform Different price points Global manufacturing & flexibility Operational efficiency and future-proof
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The platform will accelerate our digital agenda In 2030: 180,000 connected appliances 90% new products installed to be connected 15% Installed base connected 60INVESTOR DAY 2025
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Connectivity creates Customers Value INVESTOR DAY 2025 • Data Collection and Integration • Analytics and Insights • User Experience and Engagement • Operational Efficiency • New Business Models • Security and Trust • Scalability and Flexibility • Collaboration and Ecosystem Integration 61
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Sustainability play a key role in product usage 62INVESTOR DAY 2025 • Supporting customers to minimize water, energy, detergent consumption, saving money in the process, and improving the profitability of their business -10% Water reduction (drum design) -10% Energy reduction (washing and drying) - 10% CO2 reduction (product usage) vs. Existing Electrolux Professional Laundry solutions -20% Detergent reduction (automatic dosing)
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Key takeaways, Laundry → Attractive Laundry Industry: few players and market resilience → Electrolux Professional Laundry: • recognized leader in terms of sustainability and innovation • well placed for sustained profitable growth → New Laundry Platform: Continue driving Efficiency, Sustainability & Growth • Major investment ongoing on a new ‘state of the art’ product platform to future- proof the business • First products coming to market second half 2026 covering 30% of total volumes. Complete portfolio renovation ready in 2027 63INVESTOR DAY 2025
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Meeting needs beyond tomorrow Q&A Paolo Schira, President Business Area Laundry Meeting needs beyond tomorrow
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Meeting needs beyond tomorrow Progressing towards our financial targets Meeting needs beyond tomorrow Fabio Zarpellon, CFO
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Progressing towards our financial targets 4% 2025 QTD 0.9% (2024: -0.1) Organic Net sales growth target 15% 2025 QTD: 11.9%* (2024: 11.6%) Profitability target Operating working capital as per cent of net sales 15% 2025 QTD: 16.2% (2024: 16.4%) Assets efficiency target Net debt/EBITDA ratio below 2.5x 2025 QTD: 1.2x (2024: 1.4x) Capital structure target 30% of income Dividend 2025: SEK 0.85/Share (2024: 0.80/Share) 66INVESTOR DAY 2025 *excluding items affecting comparability
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Sales and EBITA growth 2019 – 2025 *Excluding items affecting comparability 67INVESTOR DAY 2025 Net sales by geography 2024 58% Europe 25% Americas 17% APAC&MEA 60% Food & Beverage 40% Laundry Net sales by segment 2024 9,281 7,263 7,862 11,037 11,848 12,583 12,414 1,090 533 663 1,146 1,317 1,461 1,482 11.7% 7.3% 8.4% 10.4% 11.1% 11.6% 11.9% 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 Net Sales SEKm EBITA SEKm EBITA margin,%* Part of Electrolux Group % 2019 2020 2021 2022 2023 2024 R12 Q3 2025
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Food & Beverage development Improving margin in a business larger than at the spin-off 5,895 4,198 4,704 7,290 7,616 7,585 7,485 635 142 299 695 766 808 777 10.8% 3.4% 6.4% 9.5% 10.1% 10.7% 10.4% 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 Net Sales SEKm EBITA SEKm EBITA% Food & Beverage 2019 2020 2021 2022 2023 2024 EBITA and EBITA%, excl Items Affecting Comparability (IAC) 68INVESTOR DAY 2025 R12 Q3 2025 • Progressively improved profit and profitability after Covid • 2025 EBITA has been negatively affected by mix, currency, higher R&D spend and to some extent tariffs
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Laundry development Significantly larger, more profitable business than at the spin-off INVESTOR DAY 2025 EBITA and EBITA%, excl Items Affecting Comparability (IAC) * TOSEI (acquired in 2024) is margin dilutive, before synergies. 3,386 3,065 3,159 3,747 4,231 4,998 4,956 472 489 492 627 702 811 856 13.9% 16.0% 15.6% 16.7% 16.6% 16.2% 17.3% 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 Net Sales SEKm EBITA SEKm EBITA% Laundry 2019 2020 2021 2022 2023 2024* R12 Q3 2025 • Continued profitable growth journey • Margin improving also in 2025 despite large currency, and some tariff impact 69
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Tariff impact Tariffs to be mitigated 13% 12%75% Group sales US produced US imported Rest of world • US sales represents approximately 25% of Group sales, less than half are subject to tariffs • Tariffs impact in EBITA (after mitigation actions) has been approx. SEK -10m in Q3 and SEK -25m QTD • Current and next year price increases are expected to cover tariff impact for 2026 70INVESTOR DAY 2025
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Currency has negatively affected our profit 71INVESTOR DAY 2025 9,254 9,084 8,976 9,084 1,061 1,083 1,024 1,140 Net Sales SEKm EBITA SEKm 11.5% 11.9% 11.4% 12.5% Jan-Sept 2024 Jan-Sept 2025 As reported Jan-Sept 2024 Jan-Sept 2025 Both years at average 2025 rates neutralizing currency impact • Currency translation reduced YOY the top line by approx. 3% and EBITA by approx. SEK 35m but with no material impact on margin • Currency transaction affected the EBITA by approx. SEK -60m or 0.6 ppt in margin *Excluding items affecting comparability EBITA margin*, %
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72 Capex development 2019 – 2025 INVESTOR DAY 2025 2.7% 3.8% 2.0% 1.4% 1.6% 2.5% 2.8% 2019 2020 2021 2022 2023 2024 R12 Q3 2025 CAPEX % of net sales • High Capex in 2020 due to investment in new factory in Thailand and low sales (Covid) • Capex currently higher due to large investments in product innovation. Expected to remain high in the coming quarters
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Operating Working Capital and inventory development 17.7% 19.9% 14.9% 16.7% 18.1% 16.4% 16.2% 2019 2020 2021 2022 2023 2024 Q3 2025 Operating working capital % of net sales 73INVESTOR DAY 2025 • Progressively improving the working capital efficiency • 2022-2023 deterioration due to supply chains disruption. We also consciously increased inventory to serve customers
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Proven good cash flow over the years * In 2022, cash flow impacted by increase of Operating Working Capital 1,167 1,131 1,138 570 1,116 636 1,453 1,548 1,413 1,098 1,188 1,058 456 663 1,111 1,317 1,461 1,247 2017 2018 2019 2020 2021 2022* 2023 2024 R12 Q3 2025 Operating cash flow after investments EBITA, SEKm Pre - Covid 74INVESTOR DAY 2025
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Net debt/EBITDA ratio is below limit of 2.5x also after recent acquisitions 75INVESTOR DAY 2025 • Fast deleverage capacity, also after each acquisition • Current ratio net debt on EBITA, without items affecting comparability is close to 1x Q4 2022 Q4 2023 1,030 549 407 1,705 2,196 2,050 2,086 1,390 3,106 2,481 2,277 1,922 1.3 0.8 0.5 1.9 2.0 1.5 1.3 0.9 1.9 1.4 1.3 1.2 - 500 1,000 1,500 2,000 2,500 3,000 3,500 Net debt, SEKm Net debt/EBITDA Limit 2.5x Q3 2025 Q2 2025 Q2 2024 Q2 2023 Q2 2021 Q2 2020 Q4 2020 Q4 2021 Q2 2022 Q4 2024 TOSEI and AdventysUnified Brands
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• Consistent and resilient cash flow generation enables smooth refinancing of upcoming maturities • Substantial funding firepower: • SEK 5.7 billion available under existing debt capital market programmes • Back up liquidity available via EUR 240 million undrawn Revolving Credit Facility Credit maturity profile and Funding capacity 76INVESTOR DAY 2025 Debt Maturity Profile* -3000 -2500 -2000 -1500 -1000 -500 0 2025 2026 2027 2028 2029 NIB & SEK** Commercial Paper Bonds RCF Capacity *As of 2025-09-30 **NIB - Nordic Investment Bank, SEK - Svensk Exportkredit
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• Progressively higher income and strong cash generation supported increased dividend payout Dividend in line with 30% policy 30% 30% 30% 30% 0.50 0.70 0.80 0.85 2021 2022 2023 2024 pay-out SEK/share (the following year) 77INVESTOR DAY 2025
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Direct material cost Other inflationary items (i.e. Salary) Operational cost, % of sales Digital investments R&D Capex Expected cost & capex development in 2026 Weight on sales • Raw material costs somewhat lower • Price increases to cover inflation • Impact of efficiency program • Continued investments in innovation – should decline second half 2026 • Continue on products and processes • Investments in products, production and sustainability expected to increase somewhat in coming quarters 78INVESTOR DAY 2025
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R&D cost development Peak in 2025 – expected to go down from H2 2026 79INVESTOR DAY 2025 • We started to increase R&D in 2024 (mainly in Laundry) when it was approximately SEK 550m • In 2025 R&D increased to approximately SEK 580m, driven by both Laundry and Cooking • Gradually, from second half 2026, we intend to start normalize R&D cost to be below SEK 500m per year
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Update on streamlining of operations Progressing according to plan • In September 2025, a program to streamline our company and improve profitability was launched • Cost for the program is SEK 235m, treated as IAC, 70% for Food & Beverage, 30% for Laundry • The program is proceeding according to plan and key decision have been taken to address product competitiveness and manufacturing footprint: • transfer of espresso coffee production from Carros to Aubusson in France • transfer of Cooking production from Sursee, Switzerland to Italy • The plan is expected to deliver material savings: • SEK 85m already next year, equivalent to 0.7ppt in margin • SEK 175m in 2027 equivalent to 1.4ppt in margin 80INVESTOR DAY 2025
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Building blocks to achieve 15% EBITA margin 11.9% 15.0% EBITA margin* R12 Q3 2025 Organic development supported by new products Medium term expected EBITA margin Stronger mix: - Customer care - US and chainsPrice, net of inflation and tarrifs 81INVESTOR DAY 2025 Cost out activities R&D normalization * Excl items affecting comparability
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Sales since 2019 +34% EBITA since 2019 +36% Cash flow since 2019 +24% Operating working capital 16.2% Savings from efficiency program SEK 175m Net debt/EBITDA 1.2x A solid Group with a large potential INVESTOR DAY 2025 82
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Meeting needs beyond tomorrow Q&A Meeting needs beyond tomorrow Fabio Zarpellon, CFO
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Meeting needs beyond tomorrow 84INVESTOR DAY 2025 Summary, Alberto Zanata →Increased efforts on cost savings and efficiency through new program →Increased profitability through production transfers of categories with too low margin →New product launches in Laundry and Cooking →Increased focus on untapped and unsaturated segments →Competence shift focusing on sales, go to market and digital capabilities →Progressive normalization of R&D cost and Capex →Mix up: Growth in chains, high margin products and customer care
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Operates on structurally growing end-markets Geographically balanced business Track record of solid EBITA, cash flow, dividend payout Positioned to grow margin thanks to efficiency program and high margin products Focused plan to grow organically, with the means to accellerate with potential M&A Sustainability leader A solid Group with a large potential Well placed to deliver 15% EBITA margin 85INVESTOR DAY 2025
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Meeting needs beyond tomorrow