Slides
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Page 1 PRESENTATION OF GREEN LANDSCAPING GROUP’S JANUARY – SEPTEMBER 2025 23 OCTOBER 2025 Q3 2025
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Page 2 Green Landscaping Group Active on a very attractive market Applying the right business model Well proven M&A strategy A HOME FOR ENTREPRENEURS A leading company in the ground maintenance and landscaping industry
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Page 3 Summary Net sales unchanged and amounted to SEK 6,211 (6,235) million - Organic growth contributed by -9% - Acquisitions contributed by 9% - Changed exchange rates contributed by 0% EBITAdecreased by 12% to SEK 463 million EBITA marginamounted to 7.5% (8.4) Cash flow from operating activities amounted to SEK 390 (399) million M&A - Completed investments in five companies Net sales increased by 4% to SEK 1,605 million - Organic growth contributed by -3% EBITAdecreased by 12% to SEK 114 million EBITA marginamounted to 7.1% (8.4) Cash flow from operating activities amounted to SEK 47 (121) million Financial discipline - Financial leverage at 3.0 (2.7) times - Financing agreement renewed in October 2025 M&A - Completed investment in one company in Q3 - Ambition to invest in companies with a combined EBITA of SEK 80–100 million for 2025 retained Rolling twelve months Q3 2025
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Page 4 Long-term performance Steady growth of net sales and EBITA over time Resilience in adverse market conditions 0 2 000 4 000 6 000 8 000 10 000 0 400 800 1 200 1 600 2 000 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 2022 2023 2024 2025 Net sales Net sales Net sales, RTM (right axis) sek mi ll io nsek mi ll io n 0 100 200 300 400 500 600 700 800 900 0 20 40 60 80 100 120 140 160 180 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 2022 2023 2024 2025 EBITA EBITA EBITA, RTM (right axis) sek mi ll io nsek mi ll io n
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Page 5 Net salesdecreased by 14% to SEK 2,467 million EBITAdecreased by 39% to SEK 105 million, margin 4.2% (6.1) Unusually mild winter impacted sales and earnings Challenging market conditions Sweden 0 500 1 000 1 500 2 000 2 500 3 000 3 500 4 000 4 500 0 100 200 300 400 500 600 700 800 900 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 2022 2023 2024 2025 Net sales Net sales Net sales, RTM (right axis) sek mi ll io nsek mi ll io n 0 30 60 90 120 150 180 210 240 0 10 20 30 40 50 60 70 80 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 2022 2023 2024 2025 EBITA EBITA EBITA, RTM (right axis) sek mi ll io nsek mi ll io n 40% 21% Share of net sales, RTM Share of EBITA, RTM Rolling twelve months Q3 2025 Net sales decreased by 8% to SEK 571 million EBITAdecreased by 27% SEK 12 million, margin 2.2% (2.7) Market headwinds persistent Activities to improve earnings performance ongoing
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Page 6 Net salesdecreased by 2% to SEK 2,467 million - Organic growth contributed -7% - Acquisitions contributed 5% - Changed exchange rates impacted 0% EBITAdecreased by 40% to SEK 149 million, margin 6.0% (9.9) - Unusually mild winter impacted sales and earnings Norway Rolling twelve months Q3 2025 Net sales increased by 1% to SEK 612 million EBITAdecreased by 75% to SEK 15 million, margin 2.4% (9.8) Challenging business conditions remains Project write-downs impacting EBITA by SEK 21 million ¨ 0 500 1 000 1 500 2 000 2 500 3 000 3 500 4 000 4 500 0 100 200 300 400 500 600 700 800 900 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 2022 2023 2024 2025 Net sales Net sales Net sales, RTM (right axis) sek mi ll io nsek mi ll io n -60 0 60 120 180 240 300 360 -20 0 20 40 60 80 100 120 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 2022 2023 2024 2025 EBITA EBITA EBITA, RTM (right axis) sek mi ll io nsek mi ll io n 40% 29% Share of net sales, RTM Share of EBITA, RTM
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Page 7 Net salesincreased by 49% to SEK 1,284 million - Organic growth contributed by 2% - Acquisitions contributed by 48% - Changed exchange rates impacted -1% EBITAincreased by 52% to SEK 254 million, margin 19.8% (19.3) Other Europe Rolling twelve months Q3 2025 Net sales increased by 35% to SEK 422 million EBITAincreased to SEK 96 (69) million, margin 22.7% (22.0) Improved operational performance in all regions Completed investment in one company in Q3 0 200 400 600 800 1 000 1 200 1 400 1 600 1 800 0 50 100 150 200 250 300 350 400 450 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 2022 2023 2024 2025 Net sales Net sales Net sales, RTM (right axis) sek mi ll io nsek mi ll io n -60 0 60 120 180 240 300 -20 0 20 40 60 80 100 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 2022 2023 2024 2025 EBITA EBITA EBITA, RTM (right axis) sek mi ll io nsek mi ll io n 20% 50% Share of EBITA, RTMShare of net sales, RTM
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Page 8 Acquired companies Q3 2025 Tessmer & Sohn Straßenbaugesellschaft mbH Founded in 1967 Operates in greater Hannover area Offer landscaping, earthwork, and drainage services Annual sales of approximately EUR 16 million 45 employees
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Page 9 FINANCIALS
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Page 10 Net sales at SEK 1.6 billion for the quarter and SEK 6.2 billion rolling twelve months EBITA margin at 7.1% for the quarter and 7.5% rolling twelve months, respectively - Challenging market conditions persist in Norway and Sweden - Project write-offs of SEK 21 million in one of our Norwegian companies Seasonally normalized cash flow Order backlog varies over time, not a lead indicator Financial leverage at 3.0x EPS 0.56 (0.96) SEK Key financials NET SALES Q3 2025 Q3 2024 RTM EBITA EBITA MARGIN, % CASH FLOW FROM OPER. ACTIVITIES SEK million ORDER BACKLOG 1,605 1,539 6,211 114 130 463 7.1% 8.4% 7.5% 47 121 390 7,4627,462 8,008 EARNINGS PER SHARE 0.56 0.96 2.47 FINANCIAL LEVERAGE 3.0x3.0x 2.7x
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Page 11 Cash flow from operating activities amounting to SEK 390 (399) million rolling twelve months Cash flow from operating activities amounting to SEK 47 (121) million in Q3 Cash flow - 300 - 100 100 300 500 700 900 -150 -50 50 150 250 350 450 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 2022 2023 2024 2025 Cash flow from operating activities Cash flow Cash flow, RTM (right axis) sek mi ll io nsek mi ll io n
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Page 12 Cash flow bridge
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Page 13 Financial leverage amounted to 3.0 (2.7) times Headroom to financial covenant Steady state means deleveraging through cash flow from operating activities Financial leverage 0,0 0,5 1,0 1,5 2,0 2,5 3,0 3,5 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 2022 2023 2024 2025 Financial leverage Net debt/EBITDA proforma RTM Financial target
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Page 14 Total financing agreements equivalent to SEK 2,750 million, of which - Term loans SEK 1,200 million* - Revolving credit facilitySEK 1,000 million* - Bonds SEK 500 million - Overdraft creditfacility SEK 50 million Net debt / EBITDA pro forma is the only covenant. Current level leaves headroom Counterparts are DNB , SEB and Svensk Exportkredit. Financing overview 0 500 1 000 1 500 2 000 2 500 3 000 2025 2026 2027 2028 Loan maturity Bank Loans Revolving credit facility Bonds *Reflecting the renewed finance agreement announced in mid-October 2025
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Page 15 Financial targets 10% 8% 2.5x NET DEBT / EBITDA, EOYTOTAL GROWTH EBITA MARGIN Sales shall, on average, grow by 10 percent per year (organically and via acquisitions) EBITA margin shall, on average, amount to 8 percent per year Net debt in relation to EBITDA shall over the long term, not exceed 2.5 times *Fourth financial target; “Approximately 40% of profit for the year shall be distributed as dividends to shareholders.”. In line with previous years, the AGM on May 9, 2025, decided not to distribute any dividend for the fiscal year 2024. 7 46 53 21 9 2020 2021 2022 2023 2024 2025 Q3 RTM 0 2020 2021 2022 2023 2024 2025 Q3 RTM 4,7 7,3 8,5 8,8 8,3 7,5 2020 2021 2022 2023 2024 2025 Q3 RTM 2,8 2,4 2,4 2,5 2,5 3,0
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