Alleima Ab · OMXSTO:ALLEI
Alleima Ab — Q3 2025 Earnings Presentation
23 slides from Alleima Ab's earnings presentation, Oct 22, 2025
Slide 1: Third quarter 2025 Interim report
October 22, 2025 Interim report Third quarter 2025 G6ran Bjorkman, President & CEO Johan Eriksson, CFO \ Alleima
Slide 2: Safety first
Alleima Safety first At Alleima our objective is zero harm to our people, Protective equipment Emergency number Psychological safety the environment we work in, our customers and our suppliers. First aid kit Emergency exit Alarm Assembly point Health & well-being Speak Up
Slide 3: Q3 highlights
Alleima | Q3 highlights Mixed market demand — Continued market uncertainty — Broad exposure reduces volatility — Solid backlog in key segments Weak Europe affecting earnings — Extended maintenance stop — Overall solid product mix Actions for increased efficiency — Long-term cost savings — Strong bal
Slide 4: Leading sustainability
Alleima | Leading sustainability Making an impact through our operations — Alltime high safety performance — _ Share of recycled steel remains high — Reducing CO: emissions — Market leader in sustainability No. of Frequency injuries rate, R12 0 2 2 20 8 8 © 4 ° ° @3 G4 GI G2 3 @ GI a2 Gs 2028 2024 2
Slide 5: Enabling the sustainable transition
Alleima | Enabling the sustainable transition Acknowledgements within sustainability Alleima again awarded Gold Medal by EvoVadis — _ Rated in the top 5% globally — Sustainability targets validated by SBTi — Including scope 3 emissions SCIENCE BASED TARGETS ecovadis SEP 2025
Slide 6: Market development
Alleima | 6 Market development — Mixed marked demand — Weak sentiment in Europe and North America, while Asia was solid — Continued momentum in key segments Perceived year on year underlying market demand trend (CHEMICAL AND INDUSTRIAL OL aNo Gas PETROCHEMICAL INDUSTRIAL HEATING consumer Year on yea
Slide 7: Alleima
Alleima ― 25 000 6 000 120 ― 5 000 100 20 000 ― 4 000 80 15 000 3 000 60 10 000 2 000 40 5 000 1 000 20 0 0 0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2023 2024 2025 2023 2024 2025 Revenues Book-to-bill R12, %
Slide 8: Earnings
Alleima | Earnings Adjusted EBIT at SEK 197 million — Margin of 4.7% — Overall good product mix — FXheadwind Free operating cash flow of SEK 285 million — Lower EBIT and higher capex Adjusted EBIT SEKM % 700 12 600 40 500 8 400 6 300 4 200 2 Qs a4 «ai G2 8 Q2. 3 2023 2024 2025 wen EBIT, adj. ——EBIT
Slide 9: Alleima
Alleima ― ― ― 5 000 140 500 12 120 10 ― 4 000 400 ― 100 8 ― 3 000 300 80 6 60 2 000 200 4 40 1 000 100 20 2 0 0 0 0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2023 2024 2025 2023 2024 2025 Revenues EBIT, adj. Book-to-bill R12, % EBIT margin, adj. R12
Slide 10: Alleima
Alleima ― ― ― 1 200 120 250 20 18 1 000 100 ― 200 16 ― 800 80 14 ― 150 12 600 60 10 100 8 400 40 6 50 4 200 20 2 0 0 0 0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2023 2024 2025 2023 2024 2025 Revenues EBIT, adj. Book-to-bill R12, % EBIT margin, adj. R12
Slide 11: Alleima
Alleima ― ― ― 500 140 40 10 120 ― 400 ― 100 20 6 300 80 60 200 0 2 40 100 20 0 0 -20 -2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2023 2024 2025 2023 2024 2025 Revenues EBIT, adj. Book-to-bill R12, % EBIT margin, adj. R12
Slide 12: Financial summary
Alleima | Financial summary 12 SEKM Q@3 2025 Q3 2024 Q1-Q3 2025 Q1-Q3 2024 Order intake, R12 18,665 19,646 = - Revenues 4,222 4,498 14,136 14,597 Adj. EBIT 197 314 1191 1,360 Adj. EBIT margin, % 47 70 84 9.3 Metal price effects -70 -24 -268 -255 Items affecting comparability (0) le) (0) le) EBIT 127
Slide 13: Bridge analysis, adjusted EBIT
Alleima | Bridge analysis, adjusted EBIT 314 Adj EBIT Q3 2024 Adj. EBIT margin 7.0% Organic Currency Structure 13 197 Adj EBIT Q3 2025 Adj. EBIT margin 4.7% AN Leverage: N/A — Negative organic development driven by lower revenues and under absorption effects — FXhad a negative impact of SEK 41 milli
Slide 14: Alleima
Alleima ― ― ― ― ― 7 500 50 18 000 16 45 7 000 40 12 35 6 500 30 15 000 8 25 6 000 20 15 4 5 500 10 5 12 000 0 5 000 0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2023 2024 2025 2023 2024 2025 Capital employed excl. cash ROCE excl. cash NWC NWC % of revenues
Slide 15: Cash flow
Alleima | Cash flow — Free operating cash flow of SEK 285 million (411) — Higher capex due to growth investments — Cash flow normally higher in H2 Free operating cash flow SEK M Q3 2025 Q32024 Q1-@32025 Qi-G3 2024 EBITDA 367 514 1613 4.779 Non-cash items 403 7 55 96 Changes in working capital 147 40
Slide 16: Alleima
Alleima 2 500 2 000 1 779 1 530 1 500 1 239 1 000 500 410 362 293 0 Q3 2023 Q3 2024 Q3 2025 Financial net debt (-) / Net cash (+) Net debt (-) / Net cash (+)
Slide 17: Guidance ahead of the quarter and outcome
Alleima | Guidance ahead of the quarter and outcome 7 Outcome Q3 2025 Guidance ahead of Q3 2025 Capex (Cash) SEK 745 million Approximately SEK 1,200 million YTD 2025 in FY 2025 Currency transaction and SEK -113 million in Q3 SEK -115 million in Q2 translation effect Total currency effect SEK -41 mil
Slide 18: Guidance Q4 2025 and FY 2025
Alleima | 18 Guidance Q4 2025 and FY 2025 Capex (cash) — Estimated to approximately SEK 1,200 million for FY 2025 Currency effects (transaction and translation) — SEK-150 million on operating profit (EBIT) for Q4 2025, compared to the corresponding period last year Metal price effects — Neutral effe
Slide 19: Outlook for the fourth quarter 2025
Alleima | | 19 A Outlook for the fourth quarter 2025 — Geopolitical uncercainty expected to linger — One-off cost for action plan in Q4 — Effects from delayed ramp-up — Solid backlog in key segments, shorter backlog for the short-cycled business — Product mix is expected to be similar to Q3 — Estima
Slide 20: Summary
Summary —Continued uncertainty —Flat organic revenue development —FX headwind —Measures for increased efficiency —Strong financial position
Slide 21: Alleima
Alleima
Slide 22: Thank you
Alleima Thank you alleima.com
Slide 23: Disclaimer
Alleima | 23 Disclaimer This presentation contains “forward-looking” statements that reflect the company’s current expectations. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations prove to