Slide 1: Making a real difference through clean air
Making a real difference through clean air Investor Presentation - Q2 2025
Slide 2: Premium CleanTech solutions for indoor air cleaning
Premium CleanTech solutions for indoor air cleaning Speakers Sebastian Lindström Fredrik Sandelin CEO CFO Making a real difference through clean air 2
Slide 3: Q2 - Sales Growth & Increased Profitability
Q2 - Sales Growth & Increased Profitability 118 (115) 68 (71) Net sales, SEK millions Recurring revenues, SEK millions 68.3 (63.2) 9.2 (1.4) Gross-margin, % Adj. EBIT-margin, %, adjusted § Great traction on new 23 (19) 0.48 (-0.04) product launches. Customer critical application areas is paying off.
Slide 4: Stable business with long-term customer contracts and high retention rate
Stable business with long-term customer contracts and high retention rate Development recurring revenues RTM Development Churn RTM 350 100 100% 297 90 90% 300 285 278 264 80 80% 252 255 250 70 70% 60 60% 200 187 63 62 58 59 57 50 50% 51 150 40 40% 41 100 30 30% 20 20% 15% 50 10% 10% 10% 11% 7% 8% 10
Slide 5: A well-diversified geographical footprint ensures resilience and opportunity
A well-diversified geographical footprint ensures resilience and opportunity EMEA – Strong customer base, cross portfolio APAC – Sales excellence and efficiency drives Americas – Strong quarter and good order backlog sales and new products growth in Japan § 9% of Total Sales in Q2 § 46% of Total Sal
Slide 6: The product mix continues to strengthen earnings capacity
The product mix continues to strengthen earnings capacity Customer case – Hitachi Energy, Belgium Customer Case: Precision Machining, Japan Customer Case: Design services, USA QleanAir solutions: Two FS 30 Industry QleanAir solutions: FS 70 Oil Mist. QleanAir solutions: QleanAir surveyed and three F
Slide 7: Two new products introduced in the quarter
Two new products introduced in the quarter QleanAir launches innovative air QleanAir launches a full-system cleaner FS 60 for industrial facilities monitoring solution for cleanroom with limited floorspace facilities: QleanGuard FS 60, compliments our line up of ceiling mounted QleanGuard allows mul
Slide 8: High activity across all regions, with strong marketing, sales momentum and new products
High activity across all regions, with strong marketing, sales momentum and new products QleanAir attended several tradeshows and strategic events: • Preventica, Paris, EMEA • WorkSafe, Antwerp, EMEA • Manufacturing Word Nagoya (Aichi), APAC • Kansai Logix (Osaka), APAC • Film Tech Japan Kansai (Osa
Slide 9: Upfront planning and thoroughness will determine outcome – top three priorities
Upfront planning and thoroughness will determine outcome – top three priorities STRATEGIC ACCELERATION OPERATIONAL STRATEGIC EXCELLENCE ACCELERATION Cost control Sales efficiency Customer focus § Materialized cogs and service cost § The more focused approach within Air cleaners § Two key exploration
Slide 10: Key Takeaways from Q2
Key Takeaways from Q2 § Success from new product launches Air Cleaners – focus on critical application areas § Two new explorations underway with significant potential § Our consistent and systematic approach to excel in cost control, sales efficiency and customer focus is starting to pay off financ
Slide 11: Financial update
Financial update Fredrik Sandelin, CFO 11
Slide 12: > 3 400 customers globally - EMEA & APAC biggest regions representing 91% of total sales in Q2
> 3 400 customers globally - EMEA & APAC biggest regions representing 91% of total sales in Q2 9% 9% 9% 46 46 46% 45 % % 45% 45 % % EMEA –longer sales cycles, APAC – sales efficiency drives AMERICAS – strong quarter, good improved gross margin growth, stable high gross margin order backlog and impro
Slide 13: Q2 – Sales Growth & Increased Profitability
Q2 – Sales Growth & Increased Profitability Sales & recurring revenues Profitability 100 92 86 83 82 82 160 80 81 80 73 70 68 140 135 60 71 68 67 67 69 66 69 68 63 62 121 124 124 40 119 118 120 115 116 113 20 104 100 0 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 80 73 75 74 75 Gross
Slide 14: Stable rental revenues with high margins from units in own balance sheet
Stable rental revenues with high margins from units in own balance sheet, service & maintenance contracts Revenue split combining recurring revenue, sales Stable installed base of rental contracts to finance companies & product sales SEKm Units 160 14 000 140 12 000 120 19 12 21 16 10 000 5 306 5 46
Slide 15: Asset light business model - Back to normal renewal cycle of rental contracts
Asset light business model - Back to normal renewal cycle of rental contracts to finance companies in Japan Revenue split, SEKm 160 140 120 19 12 21 16 18 16 16 12 19 13 16 13 15 100 16 12 33 8 18 39 6 35 27 30 32 28 25 28 30 34 80 36 27 30 31 20 30 30 24 20 60 40 73 75 74 75 72 71 70 72 64 63 64 64
Slide 16: Cash-flow generation & stable capital structure
Cash-flow generation & stable capital structure Q2’25 Q2’24 Jan-Jun’25 Jan-Jun’24 FY 2024 Cash, SEKm 48.7 50.0 48.7 50.0 52.0 Operating cash-flow, SEKm 23.3 19.1 25.6 19.2 39.7 Net debt, SEKm 156.9 169.8 156.9 169.8 164.1 Equity/Asset ratio, % 33.7 31.9 33.7 31.9 32% Net debt/Asset ratio,% 0.8 0.8 0
Slide 17: 7 million ≤50 times
#1 “ Air pollution is the primary environmental threat for human health. 7 million Around 7 million people die prematurely every year from exposure to polluted air. ≈90% We spend around 90% of our time indoors. We protect people, products and processes through clean air. ≤50 times The air indoors ca
Slide 18: Sticking to the plan
Sticking to the plan § A systematic approach to operational and strategic development § Our three priorities - Sales Efficiency, Customer focus & Cost Control § Focused product development - Seven New Product launched targeting EMEA & APAC § Targeted Go-To-Market plan –Seven new products launched fo
Slide 19: Communicated financial targets remain untouched
Communicated financial targets remain untouched We have; great products, a very knowledgeable and strong team on board and some of the most demanding clients of the industry. Our previously communicated financial targets will remain untouched. • Average annual rate of organic growth of approximately
Slide 20: Q&A
Q&A Sebastian Lindström, CEO Fredrik Sandelin, CFO
Slide 21: In summary QAIR
In summary QAIR Unique premium ≈ 3 400 corporate Pioneers in air cleaning Asset light business indoor air cleaning customers mainly technology with high model with an increasing service based on located in Europe, barriers to entry number of units installed circular, rental Japan and the USA cleanin
Slide 22: Thank you!
Thank you!
Slide 23: The freedom of clean air
The freedom of clean air Position The freedom of clean air is the promise The specialized provider of premium clean that we bring to our customers. air solutions. Purpose Making a real difference through clean air. Promise The freedom of clean air is what we bring to our customers. 23
Slide 24: Appendix
Appendix
Slide 25: Largest shareholders
Largest shareholders 2025-06-30 Shareholders %, capital and votes Swedia Capital AB 29,0% Fredrik Palmstierna 11,0% Avanza Pension 10,4% Dan Pitulia (through insurance and related parties) 6,6% Livförsäkringsbolaget Skandia 4,6% Jan-Olof Backman (through companies) 4,5% SEB Life Assurance, Ireland 3
Slide 26: Board of directors
Board of directors Fredrik Persson Dan Pitulia Jan-Olof Backman Henrik Mitelman Sara Uhlén Chairman Board member Board member Board member Board member Born 1984 Born 1956 Born 1961 Born 1975 Born 1971 Position: Chairman since 2025 Position Board member since Position Board member since Position: Bo
Slide 27: Senior management
Senior management Sebastian Lindström Fredrik Sandelin CEO CFO Born 1965 Born: 1962 Position CEO since Dec 2022 Position: CFO since April 2025 Other assignments Other assignments Fredrik has several years of Senior advisor VEA Ventures experience as CFO for listed SRL, founder and chairman of compan
Slide 28: The freedom of clean air is the promise that we deliver on to our customers
The freedom of clean air is the promise that we deliver on to our customers Sustainable products Responsible value chain Attractive employer Our offering – circular rental business model • In total we have ten strategic suppliers • Work environment & working conditions • Long-term rental and service
Slide 29: G GleanAir
G GleanAir