Slides
Page 1
1 SEB Nordic Seminar January, 2026 Robert Larsson CEO & Anders Ulff CFO Systemair
Page 2
2 About myself - Afry, ABB, Scania - Swedish citizen - Lived in Shanghai and Zurich for 7 years - Board member of Mycronic 2018-2024 - Market and customer oriented - A great believer in simplification and ease of doing business - Business is a team sport January 2026
Page 3
3 3 In short → Strong corporate culture → Global focus on Indoor Air Quality and energy efficiency to support future organic growth → Sustainability is a natural part of our business → Market leader with stable organic growth and profitability → Proven M&A track-record to support future growth → Organization preparing itself for growth → Mission to double Net Sales 3 January 2026
Page 4
4 Clean and healthy indoor air Operating from the core values of simplicity and reliability, Systemair’s business concept is to develop, manufacture and market energy- efficient, high-quality ventilation products. With our customers in focus, we are determined to meet their expectations on delivery reliability, availability, sustainability and quality. 1974 Established in Skinnskatteberg, Sweden, today HQ Net sales ~1,100 MEUR* 2007 NASDAQ Stockholm Stock Exchange 2022 Large Cap 51 Countries with own sales companies 27 Production units in 19 countries 7,200 Employees** 135 Countries exported to 4 * full year 2024/25 ** October 2025 January 2026
Page 5
5 5 The Systemair brand spans over all our high-quality ventilation products. Systemair | Brands Fantech develops, designs and markets ventilation solutions in North America. Frico is our brand for our air borne heating products. And is represented via subsidiaries or distributors in 70 countries. Menerga is a leading producer of AHU´s for swimming pool and comfort ventilation with extra high efficiency. 5 January 2026
Page 6
6 We create better air. Every day. Worldwide. → Commercial → Industrial → Residential → Infrastructure & transport → Healthcare → Education → Hospitality and entertainment → Data centre 6 January 2026
Page 7
7 7 Topvex with integrated Heat Pump reduces energy consumption by up to 65% → Topvex HP is a compact, all-in-one air handling unit designed for streamlined installation and operation. → Integrated rotor and heat pump maximises energy recovery and climate efficiency. → Very high COP/EER values → Fits through 900 mm door openings 7 Focus on Indoor Air Quality & Decarbonisation • WHO: Roadmap to improve and ensure good indoor ventilation • Clean air in buildings challenge (US) • Updated EPBD (Energy Performance Building Directive) with IAQ focus (EU) • 40% of EU energy are used in buildings (Air Treatment and Hot water 80%) • 75% of EU building stock has poor energy performance • Commercial Building certifications (BREEAM, LEED, WELL,..) i ncreasingly important • Net zero emission buildings new standard – Passive House gaining traction January 2026
Page 8
8 8 NADI joins Systemair – a pioneer in industrial fans with a strong people culture Acquisition completed in August 2025 Headquartered in Chennai, India, NADI Airtechnics Ltd. has more than 70 years of experience in designing and manufacturing industrial fans. NADI is producing high-performance centrifugal blowers and axial fans for industrial applications. Annual revenues of over EUR 13.5 million, 220 employees and profitability above Systemair’s target margin. NADI strengthens Systemair’s position in the growing Indian market and brings valuable expertise with strong potential for international expansion to the Group. January 2026
Page 9
9 Strategic priorities 9 → Efficient operational set-up with continuous improvement → Strong position benefiting from structural growth → Develop people and strong relationships → Attractive offer based on standardised platforms → Sustainable and future-proof business January 2026
Page 10
10 10 10 January 2026 Financial Goals > 10% Growth > 30% Equity/asset ratio > 10% EBIT- margin 40% approx. Dividend
Page 11
11 Markets We have a global and diversified customer base. This provides us with a solid foundation for profitable growth and high resilience. 13 % Eastern Europe & the CIS (13) 45 % Western Europe (44) 11 % North America (12) 15 % Other markets (15) 16% 45% 13% 11% 15% 11 January 2026 16 % Nordic region (16)
Page 12
12 Net sales Q2 3186 3146 3271 Q2 2023/2024 Q2 2024/2025 Q2 2025/2026 -10,0 -5,0 0,0 5,0 10,0 15,0 20,0 25,0 Q2 21/22 Q2 22/23 Q2 23/24 Q2 24/25 Q2 25/26 Organic quarterly growth Organic growth R12 +4.0 % Growth +8.2 % Organic Growth 12 January 2026
Page 13
13 Geographic breakdown Q2 Nordic region Sales growth was good in DK, FI and SE, while the NO market developed negatively during the quarter. Western Europe DE, IT and the NL showed positive sales development during the quarter, while sales in the UK and ES decreased. Eastern Europe & CIS CZ, PL and SI grew during the quarter, while sales in the markets of AZ and HU decreased. North America In local currency, sales increased in both the US and CA markets during the quarter. Middle East, Asia, Australia and Africa SA, AU and MY showed good growth during the quarter, while sales in MA decreased 2025/26 Aug – Oct 3 mths Change in sales of which Organic Nordic region 584.9 2.2% 4.2% Western Europe 1,429.5 7.4% 11.1% Eastern Europe & CIS 413.8 2.6% 5.0% North America 356.5 -2.8% 5.1% Middle East, Asia, Australia and Africa 486.3 3.0% 10.1% Total 3,271.0 4.0% 8.2% 13 January 2026
Page 14
14 Adjusted operating profit Q2 The gross margin amounted to 37.7 percent (37.3). The operating profit for the second quarter amounted to SEK 390.2 million (346.9). The operating margin amounted to 11.9 percent (11.0). Selling and administrative expenses for the quarter amounted to SEK 830.4 million (813.4), an increase of SEK 17.0 million or 2.1 percent. Acquired companies contribute SEK 8.0 million of the cost increase. Selling and administrative expenses in comparable units have increased by SEK 9.0 million. 297 321 347 390 2022/23 2023/24 2024/25 2025/26 9.9 % 10.1 % 11.9 % 11.0 % 14 January 2026
Page 15
15 15 In Summary → Strong corporate culture → Market leader with stable organic growth and profitability → Global focus on Indoor Air Quality and energy efficiency → Sustainability is a natural part of our business → Global footprint & a regional set-up → Global and diversified customer base January 2026
Page 16
16 Q&A