Slides
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Q3 2025 presentation Magnus Larsson, President and CEO Claes Wenthzel, CFO October 23 Stockholm, Sweden
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Pricer in brief 350+ Million Labels Deployed 70+ Countries 40 Million Labels installed 2024 Vision The preferred partner for in-store communication and digitalization. 70+ Countries 200 Employees 5,000+ Stores on Plaza 11 Office Locations 28,000+ Stores 36+ Million Labels on Plaza
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Market development and Q3 highlights Q3 net sales improved versus the first two quarters and while slightly below PY New software subscription only model driving a 46% increase in recurring revenue Gross margin improved to 23.2% (from 22.1%) Positive operating result in Q3 and YTD Market uncertainty continues to impact investments within the retail sector Good traction on the Nordic market with our own direct sales team Direct frame agreement with Norgesgruppen announced in October First stores on Pricer Plaza for a large Nordic customer targeting deployment across all their stores Investments in our commercial organization and in product development generating positive traction in dialogues with existing and new customers
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44 Industry insights & macro trends Sources: IHL, Experience Unleashed, Savanta, McKinsey & Company, 2024 1. Market growth & strategic digitalization 2. Rising operational cost pressures 3. Inventory accuracy & on-shelf availability 4. Evolution of in-store experience 5. Sustainability as a competitive advantage 6. Tech transformation & personalization
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SOK, Finland - Partnership From 15 stores in 2023 to: Optimized operational efficiency Faster employee onboarding and training E-commerce fulfilment performance Employee and shopper satisfaction "We looked for a partner who would work closely with us as one team, fostering a collaborative relationship rather than a transactional one. From the very beginning of this journey, Pricer has proven to be that partner, acting as an extension of our own team." Jarko Mäkkinen, Head of Development, SOK Store Operations +6 million labels +450 stores
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Pricer Avenue - Update The world´s sleekest, most advanced label, with unprecedented communication possibilities - ‘floating canvas’ The shelf's new voice - boosting sales and shopper engagement. Pilots in Sweden, Finland, France and the UK in October and November Go live January 2026! Shelf-edge communication platform for an elevated shopper experience
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Profit & Loss statement Amounts in SEK M Q3 2025 Q3 2024 9m 2025 9m 2024 Rolling 12m Full-year 2024 Net sales 598.4 613.8 1,575.3 1,928.0 2,205.3 2,558.0 Cost of goods sold -459,8 -478.2 -1,228.5 -1,517.1 -1,706.2 -1,994.8 Gross profit 138.6 135.5 346.8 410.9 499.1 563,2 Gross margin 23.2% 22.1% 22.0% 21.3% 22.6% 22.0 Operating expenses -96.6 -80.2 -308.9 -270.2 -410.1 -371.4 Other income and expenses (FX) -3.2 6.3 -6.8 -6.0 -2.1 -1.3 Operating profit/loss 38.5 61.6 31.1 134.7 86.9 190.5 Operating margin 6.5% 10.0% 2.0% 7.0% 3.6% 7.1% Comments Net sales improved sequentially but decreased slightly y-o-y, excluding FX effects sales was up 4 % compared to Q3 last year. Gross margin improved to 23.2 percent (22.1), partly driven by lower COGS as an effect from a weaker USD. Operating profit was 38.5 MSEK (61.6) and the operting margin declined to 6.5% (10.0), mainly due to higher marketing and R&D costs in key markets associated to Avenue. FX had a negative impact of 9.5 MSEK.
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8 Cash flow from operating activities Amounts in SEK M 30 sep 2025 30 sep 2024 Full-year 2024 Full-year 2023 Cash flow from operating activities before changes in working capital 94.3 202.3 268,7 84,2 Increase(-)/decrease(+) inventories -6.2 -116.3 -13.4 9,6 Increase(-)/decrease(+) trade receivables -105.4 -146.8 -122.2 4,8 Increase(-)/decrease(+) other current receivables -43.8 -34.9 52.6 68,2 Increase(+)/decrease(-) trade payables 10.1 -75.1 -148,7 -241,1 Increase(+)/decrease(-) other current liabilities 54.6 150.6 21.0 -1,9 Cash flow from changes in working capital -78.3 -222.5 -210,7 -160,4 Cash flow from operating activities 16.0 -20.2 58.0 -76,2 Comments Operating cash flow of 16 MSEK (-20,2) in the period January - September Account receivables was high at the end of Q3 and increased by 142 MSEK, due to high invoicing at the end of September Cash of 174.9 MSEK (143,9) at the end of the period.
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Financial development 523 668 972 498 532 916 457 501 352 2,555 2,576 2,841 2,661 2,670 2,918 2,404 2,408 2,229 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Order intake Order intake R12M Order intake Net Sales Gross Profit 622 801 670 644 614 630 528 449 598 2,576 2,681 2,780 2,737 2,729 2,558 2,416 2,221 2,205 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Net sales Net sales R12M 112 142 128 147 136 152 123 85 139 420 455 492 529 553 563 558 496 499 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Gross profit Gross profit R12M
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Summary • Geopolitical situation and macroeconomic uncertainty slowing down investments in the retail sector • Return to profitability for the full year to date • Clear recovery in net sales and gross profit increased • Pilots of Pricer AvenueTM being implemented in several markets during October and November • New direct frame agreement with leading Norwegian grocery retailer Norgesgruppen • Pricer has a strong position to capitalize on the future demand for digital in-store solutions and retail automation
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11 Q&A