Slide 1: Q2 Interim Report Apr-Jun 2025
Q2 Interim Report Apr-Jun 2025 Andreas Stenbäck, CEO Martin Aronsson, CFO 14 July 2025 Volati Interim Report April - June 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% Volati EBITA EBITA CAGR growth LTM since 2019 Net sales, LTM Q2 2025 SEK 8,242 m EBITA, LTM Q2 2025 SEK 702 m +12% +31% +10% EBITA CAGR ~43% EBITA CAGR ~29% EBITA CAGR Industry ~28% since 2019 sin
Slide 3: Negative organic sales trend in the quarter, yet strong year-on-year improvement
Negative organic sales trend in the quarter, yet strong year-on-year improvement Net sales growth • Sales increased by 6% to SEK 2,317 million in Organic net sales growth the first quarter 33% 33% • Organic sales growth of -1% • EBITA in line with last year at SEK 245 million 17% 15% • Salix and Ett
Slide 4: Clear impact of long-term structural measures
Clear impact of long-term structural measures • Our long terms structural measures have effect - Salix, S:t Eriks and Communication have stronger margins, even in the face of low or negative organic growth • Structural improvements are a continuous process and in the second quarter we recognised rel
Slide 5: Financial development, Q2 2025
Financial development, Q2 2025 Net sales EBITA Operating cash flow Net debt/adjusted EBITDA SEK 2,317 m SEK 245 m SEK 265 m 3,0 x (Q2 2024: 2,195) (Q2 2024: 245) (Q2 2024: 209) (Q2 2024: 2,7x) 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
Slide 6: Financial development, LTM Q2 2025
Financial development, LTM Q2 2025 CAGR +16% Net sales 750 737 25 710 8,242 702 702 700 664 658 SEK m 650 (Q2 2024: 7,597) 600 20 550 500 EBITA 450 421 15 SEK 702 m 400 350 312 (Q2 2024: 663) 300 10 10.5% 250 9.5% 9.2% 8.6% 8.4% 8.6% 8.5% Operating cash flow 200 7.5% 150 5 SEK 680 m 100 50 (Q2 2024:
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 EBITDA EBITA2) per ordinary share of at least 15 adjusted equity1) of 20 percent2). 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 growth of 10 % in the quarter +12% • EBITA margin improvement 1 pp to 11 percent in the quarter 4 000 3 886 25 3 788 • Previous structural measures as well as previous acquisitions giving 3 598 3 588 positive results on EBITA margin 3 500 3 402 3 262 • Continued develo
Slide 10: Ettiketto Group
Ettiketto Group EBITA • Sales increase of 36% in the quarter CAGR +31% • EBITA growth of 19%, mainly driven by organic growth 1 091 1 100 25 • 2 pp margin decline in the quarter – as expected due to Clever 1 006 1 000 936 Etiketten contributing with a low margin level 20.6% 19.9% 900 879 • Positive
Slide 11: Industry
Industry EBITA CAGR • Sales of decline of 7 percent in the quarter +10% • EBITA margin decline with 1 percentage point in the quarter 3 541 25 3 500 3 347 3 332 • Tornum is facing continued very challenging market conditions 3 280 3 269 • Corroventa is challenged by tough comparables along with abse
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 ~28% ~43% ~29% 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 8 823 789 • M&A have over time contributed with annual 7 7 753 710 755 sales of SEK 600–1,200 million 686 6 6 637 • Majority of the acquisitions are value creating 605 610 add-on acqu
Slide 14: Salix Group has completed yet another acquisition – Hans Eggestrand AB
Salix Group has completed yet another acquisition – Hans Eggestrand AB • Salix Group has maintained the EBITA margin LTM 10.1% acquisition pace the last five year 9.9% • 11 acquisitions totalling SEK 1,8 bn 8.2% 8.5% 7.9% 7.6% in annual sales Hans Eggestrand AB 3 886 3 598 3 402 3 588 • Annual sales
Slide 15: Well positioned for further acquired growth
Well positioned for further acquired growth Net debt, SEK m 2 510 2 547 2 183 2 223 2 189 2 105 1 988 1 907 1 888 • Operational cash flow increased 27% to SEK 265 million in 1 760 1 812 1 713 1 632 Q2 2025 compared to SEK 209 million same period last year • LTM Q2 2025 Cash flow of 680 million • Tot
Slide 16: Summary
Summary • Slightly negative organic sales trend sequentially in the quarter, yet strong year- on-year improvement • Q2 EBITA in line with last year, with solid growth in two of three business areas • Clear effects of long-term structural measures across platforms • Acquisitions added over SEK 750 mi
Slide 17: volatl.
volatl.