Slides
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Year-end report 2025
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Page 2 Agenda Latour Group key highlights Investment portfolio Wholly-owned operations Q & A Deep dive: Latour Industries Johan Hjertonsson, President and CEO Mikael J Albrektsson, CFO Tina Hultquist, CEO Latour Industries (deep-dive: Latour Industries)
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Latour Group key highlights
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Page 4 Latour – a mixed investment company WHOLLY-OWNED OPERATIONS Bemsiq Group Caljan Hultafors Group Innovalift Nord-Lock Group Swegon Latour Industries Latour Future Solutions Part-owned holdings INVESTMENT PORTFOLIO Alimak Group ASSA ABLOY CTEK Fagerhult HMS Networks Nederman Securitas Sweco Tomra Troax Financial performance in the wholly-owned industrial operations Organic growth and increasing profitability in the quarter Acquisitions and investments One acquisition agreement signed, two divestments completed and one investment conducted during the quarter Shareholder value The Board of Directors proposes an increased dividend to SEK 5.10 per share
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Page 5 Net asset value SEK 216 per share by the end of December NAV 2024-12-31 Investment portfolio Wholly-owned operations Net debt etc. NAV 2025-12-31 Dividend Adj. NAV Development during the year (adjusted for dividend) 2,4 per cent 84 Less net debt,etc. -15 Latour’snet assetvalue 138 SEK per share 216 Part-ownedOperations 0.3 Wholly-owned Operations 65 InvestmentPortfolio 88 All amounts are in SEK billion unless stated otherwise. 137.7 -0.7 +3.6 -2.6 137.9 -2.9 140.9
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Page 6 Proposed dividend increase 100% of receiveddividendsfrom InvestmentPortfolio 40-60% of net profit from wholly- owned operations 2.00 2.25 2.50 1.25* 3.00 3.30 3.70 4.10 4.60 5.10** 0,00 1,00 2,00 3,00 4,00 5,00 6,00 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 * Original proposed dividend 2.75 decreased to 1.25 due to Covid-19 ** Proposed dividend
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Investment portfolio
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Page 8 Total return for the listed portfolio 2025 The total return including share price growth and dividend, for each investment company compared with the SIXRX benchmark index.
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Page 9 Active principal owner in listed holdings Net sales, m SEK if not stated otherwise Ebita, m SEK if not stated otherwise *Tomra in MEUR *Troax in MEUR 0 400 800 1 200 1 600 0 2 000 4 000 6 000 8 000 2016 2025 0 7 500 15 000 22 500 30 000 0 50 000 100 000 150 000 200 000 2016 2025 0 25 50 75 100 125 150 0 250 500 750 1 000 1 250 1 500 2016 2025 0 200 400 600 800 1 000 0 2 000 4 000 6 000 8 000 10 000 2016 TTM Q3 0 200 400 600 800 1 000 0 1 000 2 000 3 000 4 000 5 000 2016 2025 0 200 400 600 800 0 2 000 4 000 6 000 8 000 2016 TTM Q3 0 3 000 6 000 9 000 12 000 15 000 0 25 000 50 000 75 000 100 000 125 000 150 000 175 000 2016 2025 0 500 1 000 1 500 2 000 2 500 3 000 3 500 0 5 000 10 000 15 000 20 000 25 000 30 000 35 000 2016 TTM Q3 0 50 100 150 200 0 400 800 1200 1600 2016 TTM Q3 0 20 40 60 0 100 200 300 2016 2025
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Page 10 Total return for the investment portfolio 2010 - 2025 -100% 0% 100% 200% 300% 400% 500% 600% 700% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Total return, Listed portfolio Total return, SIXRX
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Wholly-owned operations
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Page 12 Long-term financial development, trailing 12-months performance Quarterly results Orders received Net sales Adjusted operating profit 0 400 800 1200 1600 2000 2400 2800 3200 3600 4000 0 4 000 8 000 12 000 16 000 20 000 24 000 28 000 32 000 36 000 40 000 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 M SEK
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Page 13 Acquisitions during 2025 Total annual contribution SEK 1.8 billion
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Page 14 Good growth despite a challenging market Net salesand adjusted operatingprofit Net sales Adjusted operating profit 0 100 200 300 400 500 0 500 1 000 1 500 2 000 2 500 2021 2022 2023 2024 2025 SEK M Q4 2025 Q4 2024 Net sales 513 471 Adjusted operating profit* 94 86 Operating margin %* 18.4 18.2 * EBIT adj. (excl. IFRS 16)
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Page 15 Strong performance and profitability Net salesand adjusted operatingprofit 0 100 200 300 400 500 0 500 1 000 1 500 2 000 2 500 2021 2022 2023 2024 2025 SEK M Q4 2025 Q4 2024 Net sales 456 356 Adjusted operating profit* 109 45 Operating margin %* 23.9 12.6 * EBIT adj. (excl. IFRS 16) Net sales Adjusted operating profit
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Page 16 Challenging market conditions Net salesand adjusted operatingprofit 0 300 600 900 1 200 1 500 0 2 000 4 000 6 000 8 000 10 000 2021 2022 2023 2024 2025 SEK M Q4 2025 Q4 2024 Net sales 1,793 1,893 Adjusted operating profit* 301 355 Operating margin %* 16.8 18.7 * EBIT adj. (excl. IFRS 16) Net sales Adjusted operating profit
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Page 17 Good growth, both acquired and organically Net salesand adjusted operatingprofit 0 150 300 450 600 0 1 000 2 000 3 000 4 000 2021 2022 2023 2024 2025 SEK M Q4 2025 Q4 2024 Net sales 955 696 Adjusted operating profit* 132 83 Operating margin %* 13.8 11.9 * EBIT adj. (excl. IFRS 16) Net sales Adjusted operating profit
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Page 18 Building the basis for future business areas Net salesand adjusted operatingprofit 0 90 180 270 360 450 0 750 1 500 2 250 3 000 2021 2022 2023 2024 2025 SEK M Q4 2025 Q4 2024 Net sales 463 479 Adjusted operating profit* 30 47 Operating margin %* 6.4 9.9 * EBIT adj. (excl. IFRS 16) Net sales Adjusted operating profit
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Page 19 Strong performance with organic growth Net salesand adjusted operatingprofit 0 100 200 300 400 500 600 0 500 1 000 1 500 2 000 2 500 3 000 2021 2022 2023 2024 2025 SEK M Q4 2025 Q4 2024 Net sales 545 514 Adjusted operating profit* 139 138 Operating margin %* 25.5 26.9 * EBIT adj. (excl. IFRS 16) Net sales Adjusted operating profit
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Page 20 Organic growth and improved margins Net salesand adjusted operatingprofit 0 300 600 900 1 200 0 2 000 4 000 6 000 8 000 10 000 12 000 2021 2022 2023 2024 2025 SEK M Q4 2025 Q4 2024 Net sales 2,695 2,610 Adjusted operating profit* 307 266 Operating margin %* 11.4 10.2 * EBIT adj. (excl. IFRS 16) Net sales Adjusted operating profit
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Page 21 Financial targets Minimum requirement December 2025 trailing 12 months Annual growth (minimum for all operations) >10% 9% Operating margin (average for all operations) >15% 14% Return on operating capital (minimum for all operations) >15% 14%
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Page 22 A long-term perspective Our core values Long-term perspective Businessmanship Trust & Accountability Development >70% of the value comes from holdings owned >20 years > 20 yea rs 5-10 yea rs 0–5 yea rs 10-20 yea rs 5-10 yea rs 10-20 yea rs > 20 yea rs
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Q&A