Slides
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Page 1 PRESENTATION OF GREEN LANDSCAPING GROUP’S JANUARY – DECEMBER 2025 28 JANUARY 2026 Q4 2025
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Page 2 Green Landscaping Group Large attractive market with structural growth Entrepreneurial culture in a decentralized structure Value creation through 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 decreased by 2% to SEK 6,229 million - Organic growth contributed by -8% - Acquisitions contributed by 8% - Changed exchange rates contributed by -2% EBITAdecreased by 16% to SEK 444 million EBITA marginamounted to 7.1% (8.3) Cash flow from operating activities amounted to SEK 314(601) million M&A - Completed investments in four companies corresponding to a combined EBITA of SEK 82 million, in line with ambition. Net sales increased by 1% to SEK 1,791 million - Organic growth contributed by -5% EBITAdecreased by 11% to SEK 145 million EBITA marginamounted to 8.1% (9.3) Cash flow from operating activities amounted to SEK 206 (282) million Financial discipline - Financial leverage at 3.0 (2.5) times - Financing agreement renewed in October 2025 M&A - Completed investment in two companies in Q4 Full year 2025 Q4 2025
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Page 4 Long-term performance Steady growth of net sales and EBITA over time Stable market and right business model 0 2 000 4 000 6 000 8 000 10 000 0 400 800 1 200 1 600 2 000 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 2022 2023 2024 2025 Net sales Net sales Net sales, RTM (right axis) 0 100 200 300 400 500 600 700 800 900 0 20 40 60 80 100 120 140 160 180 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 2022 2023 2024 2025 EBITA EBITA EBITA, RTM (right axis)
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Page 5 Net salesdecreased by 10% to SEK 2,467 million EBITAdecreased by 18% to SEK 112 million, margin 4.5% (5.0) 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 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 2022 2023 2024 2025 Net sales Net sales Net sales, RTM (right axis) 0 30 60 90 120 150 180 210 240 0 10 20 30 40 50 60 70 80 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 2022 2023 2024 2025 EBITA EBITA EBITA, RTM (right axis) 39% 23% Share of net sales, RTM Share of EBITA, RTM Full year 2025 Q4 2025 Net sales unchanged at SEK 670 million EBITAincreased by 34% SEK 28 million, margin 4.2% (3.1) Market headwinds persistent Activities to improve earnings performance are ongoing By the end of the quarter the discontinuance of low-performing companies in Sweden was largely completed, which is expected to have a clear positive effect going forward
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Page 6 Net salesdecreased by 10% to SEK 2,346 million - Organic growth contributed -9% - Acquisitions contributed 3% - Changed exchange rates impacted -4% EBITAdecreased by 66% to SEK 87 million, margin 3.7% (9.9) Unusually mild winter impacted sales and earnings Norway Full year 2025 Q4 2025 Net sales decreased by 16% to SEK 649 million EBITAdecreased by 69% to SEK 27 million, margin 4.2% (11.6) Challenging business conditions remains One of the companies in Norway continued to weigh on the results 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 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 2022 2023 2024 2025 Net sales Net sales Net sales, RTM (right axis) -60 0 60 120 180 240 300 360 -20 0 20 40 60 80 100 120 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 2022 2023 2024 2025 EBITA EBITA EBITA, RTM (right axis) 38% 18% Share of net sales, RTM Share of EBITA, RTM
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Page 7 Net salesincreased by 39% to SEK 1,423 million - Organic growth contributed by 0% - Acquisitions contributed by 43% - Changed exchange rates impacted -3% EBITAincreased by 49% to SEK 287 million, margin 20.2% (18.8) Other Europe Full year 2025 Q4 2025 Net sales increased by 42% to SEK 473 million EBITAincreased to SEK 104 (70) million, margin 22.0% (21.2) Several companies showed a very strong profitability development during the quarter, with the German operations in particular continuing to improve their result Completed investment in two companies in Q4 0 200 400 600 800 1 000 1 200 1 400 1 600 1 800 2 000 0 50 100 150 200 250 300 350 400 450 500 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 2022 2023 2024 2025 Net sales Net sales Net sales, RTM (right axis) -60 0 60 120 180 240 300 -20 0 20 40 60 80 100 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 2022 2023 2024 2025 EBITA EBITA EBITA, RTM (right axis) 23% 59% Share of net sales, RTM Share of EBITA, RTM
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Page 8 Acquired companies Q4 2025 Marco Schulz Forst- & Landschaftsbau GmbH Founded in 1995 Operates in the area between Hamburg, Hanover, and Berlin Offers landscaping and ground maintenance as well as forestry and woodworking Annual sales of approximately EUR 9 million 60 employees
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Page 9 Acquired companies Q4 2025 UAB Economus Founded in 2006 Operates in Vilnius, Lithuania Offers a full range of children’s playgrounds, outdoor gym installations and maintenance services Annual sales of approximately EUR 3.4 million
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Page 10 FINANCIALS
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Page 11 Net sales at SEK 1.8 billion for the quarter and SEK 6.2 billion rolling twelve months EBITA margin at 8.1% for the quarter and 7.1% rolling twelve months, respectively - Challenging market conditions persist in Norway and Sweden Seasonally stable cash flow Order backlog varies over time, not a lead indicator Financial leverage at 3.0x (2.5x) EPS 0.89 (1.09) SEK for the quarter and 2.26 (3.48) SEK rolling twelve months Key financials NET SALES Q4 2025 Q4 2024 RTM EBITA EBITA MARGIN, % CASH FLOW FROM OPER. ACTIVITIES SEK million ORDER BACKLOG 1,791 1,774 6,229 145 164 444 8.1% 9.3% 7.1% 206 282 314 6,9006,900 7,312 EARNINGS PER SHARE 0.89 1.09 2.26 FINANCIAL LEVERAGE 3.0x3.0x 2.5x
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Page 12 Cash flow from operating activities amounting to SEK 314 (601) million rolling twelve months Cash flow from operating activities amounting to SEK 206 (282) million in Q4 Cash flow - 300 - 100 100 300 500 700 900 -150 -50 50 150 250 350 450 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 2022 2023 2024 2025 Cash flow from operating activities Cash flow Cash flow, RTM (right axis)
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Page 13 Cash flow bridge
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Page 14 Financial leverage amounted to 3.0 (2.5) 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 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 Q 1 Q 2 Q 3 Q 4 2022 2023 2024 2025 Financial leverage Net debt/EBITDA proforma RTM Financial target
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Page 15 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 proforma is the only covenant. Current level leaves headroom In October, the financing agreement with DNB, SEB, and Svensk Exportkredit (SEK) where renewed and extended. The new agreement amounts to SEK 2,200 million (2,200) and runs for three years, with an option to extend for an additional two years Financing overview 0 500 1 000 1 500 2 000 2 500 3 000 2026 2027 2028 Loan maturity Bank Loans Revolving credit facility Bonds
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Page 16 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 -2 2020 2021 2022 2023 2024 2025 4,7 7,3 8,5 8,8 8,3 7,1 2020 2021 2022 2023 2024 2025 2,8 2,4 2,4 2,5 2,5 3,0 2020 2021 2022 2023 2024 2025
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