Slide 1: Q1 Interim Report Jan-Mar 2025
Q1 Interim Report Jan-Mar 2025 Andreas Stenbäck, CEO Martin Aronsson, CFO 28 April 2025 Volati Interim Report January - March 2025
Slide 2: Volati is a growing group of well-managed companies with strong earnings
Volati is a growing group of well-managed companies with strong earnings Home markets Subsidiaries +16% +17% Volati EBITA EBITA CAGR growth LTM since 2019 Net sales, LTM Q1 2025 SEK 8,120 m EBITA, LTM Q1 2025 SEK 702 m +11% ~41% +31% +13% Industry ~31% EBITA CAGR EBITA CAGR ~28% EBITA CAGR since 201
Slide 3: Q1 marks the second consecutive quarter of organic growth
Q1 marks the second consecutive quarter of organic growth Net sales growth Organic net sales growth • Sales increased by 15% to SEK 2,001 million in 33% 33% the first quarter. • Organic sales growth of 4%, marking the second consecutive quarter of organic sales growth. 17% 15% • EBITA increased by 4
Slide 4: The first step towards closing the growth gap in a yet uncertain market
The first step towards closing the growth gap in a yet uncertain market • Market conditions slowly improving within the construction-related segments, while still slow for Tornum Group • Recent concerns about trade tariffs have limited direct impact on Volati, however fuels the general uncertainty i
Slide 5: Financial development, Q1 2025
Financial development, Q1 2025 Net sales EBITA Operating cash flow Net debt/adjusted EBITDA SEK 2001 m SEK 135 m SEK -136 m 2,9 x (Q1 2024: 1,747) (Q1 2024: 91) (Q1 2024: 18) (Q1 2024: 2,6x) Net sales, SEK m EBITA, SEK m 2 250 250 2 000 1 750 200 1 500 150 1 250 1 000 100 750 500 50 250 0 0 Q1 Q2 Q3
Slide 6: Financial development, LTM Q1 2025
Financial development, LTM Q1 2025 CAGR +5% vs Q1 +17% LTM 2024 Net sales 750 737 25 710 8,120 702 700 664 658 SEK m 650 (Q1 2024: 7,653) 600 20 550 500 EBITA 450 421 15 SEK 702 m 400 350 312 (Q1 2024: 668) 300 10 10,5% 250 9,5% 9,2% 8,6% 8,4% 8,6% Operating cash flow 200 7,5% 150 5 SEK 624 m 100 50
Slide 7: Financial targets
Financial targets EBITA growth Return on adjusted equity Capital structure The target is an average annual growth in The long-term target is a return on The target is a net debt/adjusted EBITDA1) EBITA2) per ordinary share of at least 15 adjusted equity2) of 20 percent. ratio of 2 to 3 times, and no
Slide 8: Three business areas with growth focus
Three business areas with growth focus Industry Products and materials for Self-adhesive labels and Four businesses with leading builder’s hardware, machines for various market positions in their niches; consumables, construction, home applications; from decorative Products and solutions for grain &
Slide 9: Salix Group
Salix Group EBITA CAGR • Sales in the quarter increased by 25%, both through acquired growth +11% and through organic growth 4 000 11 10.1% • EBITA nearly doubled compared to last year 3 598 3 588 3 788 3 456 10 • Cautious market improvement in the quarter 3 500 9.9% 3 262 3 402 3 357 3 414 9 • Posi
Slide 10: Ettiketto Group
Ettiketto Group • Net sales in the quarter increased by 32% compared to last year, CAGR +31% driven by the acquisition of Clever and by organic growth 1 100 25 • Slight EBITA margin increase in the quarter and EBITA in nominal 1 006 terms increasing with 35% 1 000 20.6% 900 936 19.9% • Acquisition o
Slide 11: Industry
Industry • A slight revenue decline of 2% in the quarter, and an EBITA decline CAGR of 2 MSEK to 22 MSEK +13% • Continued good development in Communication, despite lower 4 000 25 deliveries to the US market 3 541 3 500 3 445 3 347 3 332 • Corroventa faces a strong comparables from last year, with n
Slide 12: 27 acquisitions and SEK 4,2 billion of annual sales since 2020
27 acquisitions and SEK 4,2 billion of annual sales since 2020 EBITA1 EBITA1 EBITA1 Industry ~31% ~41% ~28% Heco SALES Timberman SALES Beneli SALES January 2020 180 December 2024 420 June 2020 160 Pisla SALES Eggestrand SALES Märkas SALES September 2020 240 April 2025 45 September 2020 170 Duschy SA
Slide 13: Add-on acquisitions are an important value driver for Volati and our platforms
Add-on acquisitions are an important value driver for Volati and our platforms 1 170 1 125 1 086 1 021 1 017 867 8 8 8 823 • M&A have over time contributed with annual 770 749 782 742 7 753 7 710 sales of SEK 600–1,200 million 686 6 6 632 605 610 • Majority of the acquisitions are value creating 5 5
Slide 14: The acquisition of Clever Etiketten marks Ettiketto Group's entry into Central Europe
The acquisition of Clever Etiketten marks Ettiketto Group’s entry into Central Europe EBITA margin R12 Sales R12 Clever Etiketten • Annual sales of SEK~290 million 1 000 21,4% 20,6% 19,9% • A leading supplier of label solutions in 17,1% 18,5% Germany with approximately 200 15,6% employees, founded i
Slide 15: Well positioned for further acquired growth
Well positioned for further acquired growth Net debt, SEK m 2 510 2 183 2 223 2 189 2 105 1 988 1 907 1 888 • Operational cash flow of SEK -136 m in Q1 2025 compared 1 632 1 760 1 812 1 713 to SEK 18 m in Q1 2024 1 344 • LTM Q1 2025 operational cash flow of SEK 624 m • Total cash generation of 79% d
Slide 16: Summary
Byt text baserat på inledande text Summary Byt bild? • First quarter of the year delivers a solid performance, laying a strong foundation for the year • Volati is best evaluated over time, individual quarters vary over time • While market conditions is still uncertain a positive trend is emerging •
Slide 17: volatl.
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