Slides
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6m-2025 RESULTS CONFERENCE CALL 14 AUGUST 2025 Martin Jacobsson, CEO Casper Tamm, CFO Magnus Blomberg, Head of IR
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HIGHLIGHTS ▪ Continued organic sales decline mainly due to low new build activity ▪ Q2 adjusted EBITA 132.2 mSEK (81.2) margin 9.2% (6.2%) ▪ Flat organic development in the order backlog ▪ Delays from the Building Safety Regulator (BSR) - order backlog up at Clear Line ▪ Net debt/adjusted EBITDA pro forma at 3.36x, focus on taking leverage back below 2.5x ▪ Covenant step down pushed two quarters SECOND QUARTER 2025 2 Cities where Fasadgruppen’s subsidiaries are located
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3 NET SALES ▪ Total increase of 10.0% ▪ Sales down 5.9% organically ▪ Continued low activity in new build, especially in Sweden ▪ Total Solutions sales SEK 722.8 (791.9) down 8.7% ▪ Specialist Solutions sales SEK 549.9 (511.9) up 7.4% ▪ Clear Line sales SEK 162.1 Q2 2025 0 2000 4000 6000 0 400 800 1200 1600 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 MSEK, LTMMSEK, quarter Net sales per quarter Net sales, LTM +13.8% CAGR (LTM) Q2 2024 Organic FX Acquisitions Q2 2025 1000 1050 1100 1150 1200 1250 1300 1350 1400 -5.9% -1.8% +17.8% 10.0 % net sales growth MSEK
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4 ADJUSTED EBITA ▪ Adjusted EBITA of 132.2 (81.2) margin at 9.2% (6.2%) ▪ Total Solutions adj. EBITA SEK 47.9 (66.3) margin of 6.6% (8.4%) ▪ Specialist Solutions adj. EBITA SEK 51.5m (32.9) margin of 9.4% (6.4%) ▪ Clear Line adj. EBITA SEK 47.6m margin of 29.4% ▪ Total adjustments of SEK 11.2m, mainly related to earnout revisions Q2 2025 2025 2024 2025Q2 2024 SEK million Q2 Q2 Δ 12m Jan-Dec Δ Adjusted EBITA 132.2 81.2 62.9% 389.7 282.4 38.0% Adj. EBITA margin 9.2% 6.2% 7.5% 5.7% 0 100 200 300 400 500 0 20 40 60 80 100 120 140 160 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 MSEK, LTMMSEK, quarter Adj. EBITA per quarter Adj. EBITA, LTM +2.1% CAGR (LTM)
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5 ORDER BACKLOG ▪ Order backlog with a flat organic development of -0.8% ▪ All-time-high at roughly 4.3bn SEK following strong development at Clear Line ▪ Organic growth in the Swedish entities, second quarter in a row ▪ Stronger order backlog margin compared to Q1-2025 following the strong contribution from Clear Line ▪ Total Solutions order backlog SEK 1 886.2m (1 949.7) ▪ Specialist Solutions order backlog SEK 1 135.3m (1 051.7) ▪ Clear Line order backlog SEK 1 237.6m 30 June 2025 30 Jun 2024 Organic FX Acquisitions 30 Jun 2025 1500 2000 2500 3000 3500 4000 4500 0 1000 2000 3000 4000 5000 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 MSEK, quarter +41,9% order backlog growth +10.8% CAGR (LTM) -0.8% +44.1% MSEK -1.4% Order backlog per quarter
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6 CASH FLOW ▪ Strong cash flow following a negative Q1 ▪ Following seasonal pattern Q2 2025 0 100 200 300 400 500 600 -50 0 50 100 150 200 250 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 Q125 2Q25 MSEK, LTMMSEK, quarter Operating cash flow per quarter Operating cash flow, LTM +4.4% CAGR (LTM) 2025 2024 2025Q2 2024 SEK million Q2 Q2 Δ 12m 12m Δ Operating cash flow 180.7 92.2 95.9% 459.9 421.6 9.1% Δ Working capital 61.3 10.2 90.3 172.7 Cash conversion 115.9% 84.2% 99.0% 118.5%
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7 FINANCIAL CAPACITY AND NET DEBT ▪ Average interest rate Jan-Jun 2025: ~5.7% (~6.1%) ▪ Interest period of 1-3 months ▪ Net debt* / adjusted EBITDA pro forma 3.36x 30 June 2025 SEK million 30 Jun 2025 30 Jun 2024 Interest-bearing debt 2,463.3 1,640.6 Lease liabilities (+) 250.8 182.3 Cash and cash equivalents (-) 476.4 335.7 Total interest-bearing net debt 2,237.7 1,487.3 Net debt / adjusted EBITDA (x) 4.2x 3.2x Net debt* / adjusted EBITDA PF (x) 3.4x 3.3x 1,0 2,0 3,0 4,0 5,0 6,0 0 500 1000 1500 2000 2500 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 Q125 2Q25 (x)MSEK Net debt Net debt/adj. EBITDA (LTM) Target (2.5x) *For covenant purposes, total interest-bearing net debt is calculated on a slightly different basis. **Including Clear Line 1,0 1,5 2,0 2,5 3,0 3,5 4,0 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 (x) Net debt/adj. EBITDA PF (LTM) Agreed level Target (2.5x) **
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REAFFIRMATION - PRIORITIES 2025-2028 FOCUSING ON PROFITABLE GROWTH 8 PROFITABILITY GROWTH LEVERAGE ▪ Grasp organic opportunities ▪ Continued consolidation of Nordic market ▪ Expand UK footprint ▪ Return to net debt/EBITDA below 2.5x ▪ Ensure continuous improvements in subsidiaries ▪ Focus on efficiency in operations ▪ Increase cooperation within the group Main priorities 2025-2028 Focus 2025
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CONCLUDING REMARKS ▪ All time high order backlog ▪ Still low activity within new build ▪ Delays from the Building Safety Regulator (BSR) - order backlog up at Clear Line. ▪ Covenant step down pushed two quarters ▪ Continued focus on profitability improvements and de-leveraging ▪ Much to be proud of, much left to prove 2025 A YEAR OF DELEVERAGING AND PROFITABILITY MEASURES 9
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Q&A PRESENTATION MATERIAL IS AVAILABLE AT CORPORATE.FASADGRUPPEN.SE