Slide 1: MEKO January – March 2025
MEKO January – March 2025 May 15, 2025
Slide 2: Q1 2025 – EBIT up in a cautious market
Q1 2025 – EBIT up in a cautious market Maintained gross margin through price adjustments and improved procurement Total growth of 6 percent – organic growth slightly negative in a slow market Improved EBIT and adjusted EBIT Warehouse projects on track and expected to be fully operational by 2025 Sev
Slide 3: Driving growth: Strategic partnership with Goodyear
Driving growth: Strategic partnership with Goodyear • Significant growth potential in the tire segment • Heavier vehicles require tires that offer greater durability • Targeting a more than 30 percent increase in tire sales by the end of 2026 Currently 750 000 • Goodyear, one of the world's leading
Slide 4: Expanding in Commercial Vehicles with new division
Expanding in Commercial Vehicles with new division • Strong growth potential in segments like buses, trucks and light commercial vehicles • MEKO's extensive network ensures high availability for both workshops and operators • New division led by Nils Hollmann, experienced leader in the CV segment 4
Slide 5: Cadillac chooses MEKO for warranty and service
Cadillac chooses MEKO for warranty and service • General Motors and MEKO in strategic partnership around service and warranties • Partnership covers Cadillac's newly launched electric vehicles in Sweden • MEKO selected for its: o extensive network o wide range of EV spare parts o specialized vehicle
Slide 6: Upgraded warehouse roll-out progressing according to plan
Upgraded warehouse roll-out progressing according to plan • Move-in process started in Oslo, Odense, and Helsinki • Technology testing ongoing – full operations expected across all sites in the autumn • Will elevate our logistics capabilities to a new level – unlocking new growth opportunities Capit
Slide 7: New, more in-depth Annual and Sustainability Report
New, more in-depth Annual and Sustainability Report • MEKO's Annual- and Sustainability Report for 2024 was published in March • Expanded sustainability reporting with increased transparancy compared to prior editions • Reporting aligned with upcoming CSRD requirements to ensure compliance 7
Slide 8: Resilient performance in the first quarter
Resilient performance in the first quarter Cautious market - slightly negative organic growth Stable gross margin - supported by price adjustments and effective purchasing Solid adjusted EBIT development – although slightly lower margin Rolling SEK M Q1 2025 Q1 2024 Change % 2024 12M Change %
Slide 9: Stable margin development in the first quarter
Stable margin development in the first quarter Gross margin (%) bridge 2024 Q1 to 2025 Q1 42,9 42,8 0,5 0,6 0,2 0,3 • Negative price effect from strong price competition in Poland and positive currency effects from mainly strengthened PLN against EUR. • Slightly positive customer and product mix • “
Slide 10: Improved profitability driven by Sweden/Norway and Denmark
Improved profitability driven by Sweden/Norway and Denmark Adjusted EBIT (SEK M) bridge 2024 Q1 to 2025 Q1 • Continued profitability improvement in Sweden/Norway driven by 5 10 3 2 231 efficiency measures 5 224 11 • Improvement in Denmark driven by cost measures and an improved gross margin • Profit
Slide 11: Strong financial position – leverage well within target range
Strong financial position – leverage well within target range Net debt Net debt/ MSEK EBITDA* 5,000 12,0 x 11,0 10,0 4,000 9,0 8,0 Q1 net debt of 3,013 (2,913) MSEK 3,000 6.4 7,0 and a leverage of 2.4 times (excl IFRS 16) 6,0 3.7 5,0 2,000 Strong historic proof of a long-term 3.4 4,0 2.7 3.1 2.5
Slide 12: Denmark – Improved profitability despite slow sales development
Denmark – Improved profitability despite slow sales development • Reported net sales growth of -4 per cent, of which -5 per cent organic. Sales development suppressed by tough competition, a milder winter season and low activity in workshops. • Adjusted EBIT improved due to a slightly improved gross
Slide 13: Finland – Cautious market and mild winter hampers growth
Finland – Cautious market and mild winter hampers growth • Reported net sales growth of -9 per cent, of which -7 per cent organic. Growth burdened by continued cautious market development and an unusually mild winter season. 7% • Improved gross margin and reduced personnel costs, still adjusted EBIT
Slide 14: Poland/The Baltics – Growth momentum supported by Elit Polska
Poland/The Baltics – Growth momentum supported by Elit Polska • Reported net sales growth of 43 per cent, mainly driven by the acquisition of Elit Polska. Organic growth of 9 per cent, supported by volume growth in the Baltics and higher export sales • Adjusted EBIT development burdened by acquired
Slide 15: Sweden/Norway – Continued profitability improvement
Sweden/Norway – Continued profitability improvement • Reported net sales growth of -3 per cent, of which -2 percent organic. Growth primarily burdened by the phase-out of the consumer business in Norway, as well as a weak macro 36 % environment and a mild winter season • Adjusted EBIT improved, with
Slide 16: Sørensen og Balchen – Stable development despite slow market
Sørensen og Balchen – Stable development despite slow market • Reported net sales growth of -1 per cent, of which -1 per cent organic. Growth burdened by lower sales of winter-related products 5% and weak consumer sales • Adjusted EBIT margin of 14.1 per cent, with the healthy profitability primaril
Slide 17: Q1 2025 – EBIT up in a cautious market
Q1 2025 – EBIT up in a cautious market • Increased EBIT and adjusted EBIT • Maintained gross margin • Total growth 6 percent – slightly negative organic growth due to a slow market • Several initiatives for long-term organic growth – and continued strong focus on costs • Warehouse projects on track
Slide 18: Q&A
Q&A 18
Slide 19: We enable mobility - today, tomorrow and in the future
WE ENABLE MOBILITY - TODAY, TOMORROW AND IN THE FUTURE 19
Slide 20: Appendix
APPENDIX 20
Slide 21: Strong Group footprint
Strong Group footprint Market shares per geography Net sales per geography, 2025Q1 Denmark 28% Number of branches: 48 (24Q4: 48) Number of affiliated workshops: 948 (24Q4: 944) Finland 25% Number of branches: 161 (24Q4: 162) Number of affiliated workshops: 437 (24Q4: 390) Norway 25% Number of branch
Slide 22: Largest owners 2025-03-31
Largest owners 2025-03-31 Voting rights and share capitals, % LKQ Corporation 26,6 Swedbank Robur Fonder 8,9 Fjärde AP-fonden 7,9 Nordea Funds 4,5 Carnegie Fonder 3,5 Unionen 3,3 Eva Fraim Påhlman 3,1 AFA Försäkring 3,0 Vanguard 2,9 Dimensional Fund Advisors 2,7 Total 10 largest shareholders 66,5 Ot
Slide 23: Long term financial targets
Long term financial targets Sales growth Adjusted EBIT growth Annual sales growth of at least 5 percent Annual adjusted EBIT growth of at least 10 percent. - through a combination of organic growth and smaller acquisitions, but excluding selective M&A. Net debt/EBITDA Dividend policy Net debt/EBITDA