Karnell Group Ab Class B · OMXSTO:KARNEL_B
Karnell Group Ab Class B — Karnell Group AB ser. B — Q3 2025 Earnings Presentation
12 slides from Karnell Group Ab Class B's earnings presentation, Nov 5, 2025
Slide 1: Interim Report January – September 2025
INTERIM REPORT JANUARY – SEPTEMBER 2025 Q3 5 NOVEMBER 2025
Slide 2: Today's agenda and presenters
Today’s agenda and presenters: Petter Moldenius 01. Introduction 02. Q3 2025 Lars Neret 03. New companies 04. Q&A 2
Slide 3: Karnell Group Q3 2025 – a quarter of continued growth and solid performance
INTRODUCTION Q3 - 2025 NEW COMPANIES Karnell Group Q3 2025 – a quarter of continued growth and solid performance (SEKm) Net Sales EBITA Operating cash flow Net debt / EBITDA* 436 69 46 1.6x (Q3 2024: 357) (Q3 2024: 55) (Q3 2024: 46) (Q3 2024: 1.2x) *Net debt excl. leasing / EBITDA excl. leasing Net
Slide 4: 2025 Q3: A solid quarter driven by organic growth, a successful platform acquisition and highest EBITA margin
INTRODUCTION Q3 - 2025 NEW COMPANIES 2025 Q3: A solid quarter driven by organic growth, a successful platform acquisition and highest EBITA margin on LTM basis to date Net Sales and EBITA% development LTM (SEKm) Highlights during the quarter: 2,400 13.3% 13.6% 14 • Net sales for the period increased
Slide 5: Breakdown of quarterly performance in net sales and EBITA
INTRODUCTION Q3 - 2025 NEW COMPANIES Breakdown of quarterly performance in net sales and EBITA Net Sales (SEKm) EBITA (SEKm) +22% 436 -8 +26% +37% 75 69 -2 357 13 +45% 15 55 1 260 4% 21% -2% 38 2% 28% -3% Q3 2023 Q3 2024 Organic growth Acquired Currency Q3 2025 Q3 2023 Q3 2024 Organic growth Acquire
Slide 6: Product companies – Strong development, driven by both acquisitions and organic performance
INTRODUCTION Q3 - 2025 NEW COMPANIES Product companies – Strong development, driven by both acquisitions and organic performance Net Sales (SEKm) EBITA (SEKm) +45% 249 +61% -3 46 -1 75 +65% 15 171 6 +104% 29 3 3% 44% -2% 104 10% 54% -2% 14 Q3 2023 Q3 2024 Organic growth Acquired Currency Q3 2025 Q3
Slide 7: Niched manufacturers – A stable quarter – driven by solid organic performance
INTRODUCTION Q3 - 2025 NEW COMPANIES Niched manufacturers – A stable quarter – driven by solid organic performance Net Sales (SEKm) EBITA (SEKm) +19% +1% 185 0 -6 187 8 +7% -1% 156 35 0 34 1 -1 32 4% 0% -3% 2% 0% -3% Q3 2023 Q3 2024 Organic growth Acquired Currency Q3 2025 Q3 2023 Q3 2024 Organic gr
Slide 8: Growing cash flow from operating activities
INTRODUCTION Q3 - 2025 NEW COMPANIES Growing cash flow from operating activities Cash flow from operating activities (LTM) (SEKm) +1% 173 174 175 175 165 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 • Slightly increased cash flow in Q3 on an LTM basis compared to Q3 2024. Increased profits but higher wor
Slide 9: Stable capital structure with low leverage as a base for further acquisitions
INTRODUCTION Q3 - 2025 NEW COMPANIES Stable capital structure with low leverage as a base for further acquisitions Net debt excl. leasing (SEKm) SEKm 2022 2023 2024 Q3 2025 1.7x 1.2x 0.9x 1.6x Interest bearing debt 340 376 460 457 Cash and cash equivalents 149 190 286 47 410 Net debt excl. leasing 1
Slide 10: LundHalsey - Premium consoles used in control rooms to monitor mission-critical operations
INTRODUCTION Q3 - 2025 NEW COMPANIES LundHalsey - Premium consoles used in control rooms to monitor mission-critical Examples of products: operations across sectors including broadcast, security, industrial processes and aviation Product company with an attractive market position Pro-forma sales and
Slide 11: Q3 2025 - Continued growth with highest margin and ROCE to date
INTRODUCTION Q3 - 2025 NEW COMPANIES Q3 2025 - Continued growth with highest margin and ROCE to date, supported by a strong balance sheet and healthy M&A pipeline Key take aways: • Karnell delivered a quarter of continued growth with improving margins and the highest ROCE to date, driven by discipli
Slide 12: Thanks for listening
Thanks for listening Questions?
Karnell Group AB ser. B — Q3 2025 Earnings Presentation on 6ix