Munters Group Ab · OMXSTO:MTRS
Munters Group Ab — Investor Presentation (May 2026)
27 slides from Munters Group Ab's investor presentation, May 2026
Slide 1: Investor Presentation
Investor Presentation Data Center Technologies, Cork – May 2026
Slide 2: DCT deep-dive
DCT deep-dive Stefan Aspman, GVP & President DCT Frank Pellegrino, Senior VP Sales & Strategy Paul Holland, VP Commercial EMEA & MD Ireland Craig MacFadyen, Director Offer Strategy & Portfolio Management
Slide 3: Welcome to Cork: current facilities summary
Welcome to Cork: current facilities summary . Team Manufacturing facilities Experienced engineering, sales, R&D, HR, finance, commercial & operations Teams • Facilities certified to ISO9001, 14001 & 45001 Location May 2026 • Eurovent & UL & CE certified Little Island 120 Two primary manufacturing lo
Slide 4: Agenda
Agenda DCT growth journey Market developments Portfolio and competitive position Industry trends Concluding remarks Group summary
Slide 5: Munters DCT on a journey
Munters DCT on a journey 2026 • Water, air and refrigerant based systems • 6 production sites ~90k m2 ~2020 • +1 000 employees • Meaningful presence in three regions • Air handling units • Expanded customer base across • 1 production site ~23k m2 hyperscale & colocation segments • ~200 employees • V
Slide 6: From 1 production site to 6 – building a lean and adaptable footprint
From 1 production site to 6 – building a lean and adaptable footprint 2021 Now Future * Original DCT plant in VA New build: main Added second facility in VA * facility in TX * * New build: Cork Acquired: * Geoclima Utilized: Curitiba* Chiller expansion in VA New build: APAC Since 2021 we have built
Slide 7: A scalable and flexible global footprint
A scalable and flexible global footprint Q1 2026, LTM BSEK 15+ BSEK 15+ BSEK ~6 17.4% Order intake Order backlog Net sales Adj. EBITA Margin Roanoke, Virginia Cork, Ireland (Edpac) • DCT main hub, our largest • Site of 15k m2 to meet the growing demand for manufacturing facility of 32k m2 for the da
Slide 8: DC industry major trends affecting demand
DC industry major trends affecting demand AI and data the next arms race Chip technology evolution and rising power density The rapid rise of liquid cooling Hybrid cooling architectures and modular builds Build scale and complexity ever increasing 8
Slide 9: Total market growth & our addressable market
Total market growth & our addressable market Growth rate (%) according to industry sources Cooling ~10-15% of total DC –liquid cooling higher due to complexity 22.3 Other Electrical Cooling Infrastructure 16.1 14.9 12.4 13.2 12.8 12.6 Ø 14.9 Liquid Cooling Premium Construction IT Equipment Business
Slide 10: Data center heat rejection
Data center heat rejection 4 1. Dissipation – taking heat from the chip to the air or the liquid 2. Capture – heat is captured 3 by the CRAH (air) or the CDU (liquid) 3. Transfer – heat energy is transported to the heat rejection equipment 1 4. Release – heat is rejected to atmosphere or to be re- u
Slide 11: Full solution provider
Full solution provider CRAHs
Slide 12: Next-gen chilled water cooling
Next-gen chilled water cooling ! Munters delivers modular cooling systems engineered around the customer’s data center — not the other way around Geoclima High Efficiency Chiller How our systems differentiate Dry Cooler: Larger dry cooler design, well adapted for high density AI cooling applications
Slide 13: Circlemiser: A new standard in AI cooling optimization
Circlemiser: A new standard in AI cooling optimization Exceptional cooling capacity within a compact footprint: Designed for AI and mission-critical environments: optimized for high-density applications where efficiency, uptime and scalability are critical In house evaporator designs: using cascaded
Slide 14: Making the trend our friend
Making the trend our friend Speed and simplicity Not limiting to “best practice” Customer centricity R&D Teams directly linked to customers - Agile Designing what's right not what Direct Engagement with large end users product development process designed to cope everyone else does and key accounts
Slide 15: Commercial models across customer type
Commercial models across customer type Project to Project Large Customer Key Accounts Contract Manufacturing Customer Designs Customers buying equipment Focusing on program level Large scale customers project to project. Focused on purchases securing typically a designing their own systems optimizin
Slide 16: Hybrid cooling solutions for scalable AI infrastructure
Hybrid cooling solutions for scalable AI infrastructure Solutions like these increasingly use hybrid cooling, Emerging modular data center cooling concepts use combining air cooling for general server loads with liquid factory-built skids and containerized plug-and-play cooling for high-density AI w
Slide 17: Product portfolio
Market players can be divided into four main categories Vertical houses Data center cooling provider High • Broad range of end-to-end solutions • Benefits from scale and several “entry points” • Trusted with larger share of wallet to the DC projects • Require broad portfolio, world class service, •
Slide 18: DC cooling today: short-term factors
DC cooling today: short-term factors Supply-chain & geopolitics Tariffs • Continued tariff exposure on metal • Bottlenecks in selected components components • Long lead times for certain components • Higher input costs • Freight, raw material and logistical volatility • Administrative and compliance
Slide 19: Summary: Data Center Technologies
Summary: Data Center Technologies Cork, Ireland | May 2026 Market opportunity DCT rapid growth story — ~2020: 1 site, ~200 staff, US-only, colocation focus ~15% CAGR 10–15% Avg. market growth of DC capex is cooling — 2026: 6 global sites, 1,000+ employees, 3 regions, 2025–2032 (industry) (liquid coo
Slide 20: Group overview
Group overview Klas Forsström, President & CEO Katharina Fischer, GVP & CFO
Slide 21: A well-executed start to the year
A well-executed start to the year Q1: Continued strong order growth Q1: Net sales affected by currency Q1: Margins impacted by temporary factors AirTech DCT FoodTech AirTech DCT FoodTech AirTech DCT FoodTech Group MSEK MSEK % 12 000 4 000 30 25 9 000 3 000 20 14.7% 6 000 2 000 15 14.4% 10 10.9% 3 00
Slide 22: AirTech: Global leader in air treatment for industry
AirTech Global leader in air treatment for industry Customer segment order intake, LTM 9% 21% Order intake, MSEK* Net sales, MSEK* Adjusted EBITA margin* 29% 19% 7,181 7,126 7.1% 11% 10% MSEK MSEK % Battery Other industrial 20 Clean Technologies Commercial 2 500 2 000 Service Components 2 000 15 1,9
Slide 23: FoodTech: A world leader in digitalizing the food supply-chain
FoodTech A world leader in digitalizing the food supply-chain Customer segment order intake, LTM 9% 2% 6% Order intake, MSEK* Net sales, MSEK* Adjusted EBITA-margin* 55% 27% 1,912 1,755 16.6% MSEK MSEK % 600 30 400 Broiler Layer Swine 416 % Plants Other 400 484 20 Order intake per 14.7% region, Q 20
Slide 24: Data Center Technologies: Sustainable cooling solutions
Data Center Airech Technologies Sustainable cooling solutions that facilitate LTM distribution of order intake digitization Customer segment 1% 3% 40% Order intake, MSEK* Net sales, MSEK* Adjusted EBITA margin* 15,073 5,804 17.4% 56% MSEK Large orders announced through press releases MSEK % 10000 16
Slide 25: Leverage, Capex & OWC
Leverage, Capex & OWC Business Outlook 2026 - Capex* Expected to remain in same range (**investments in intangible assets & PPE) CAPEX Development of leverage & net debt 15% 2 000 3,5 450 10% 300 %-net sales 3,0 MSEK 0 5.5% 3.1 2.9 3.1 2.8 2.8 5.5% 5% 2,5 150 2.6 -2 000 0 0% 2.2 2,0 2.0 2.1 Q1 Q2 Q3
Slide 26: Outlook for 2026
Outlook for 2026 AirTech DCT FoodTech • Improved order intake across • Wide product portfolio • Fully digital offering several segments Status: • New regions • Positive book-to-bill • Order backlog >15 BSEK • Investments for future • Ongoing efficiency programs • US chiller ramp-up growth Flat to po
Slide 27: Forward-looking statements
This presentation contains forward-looking statements that reflect Munters current expectations on future events and Munters financial and operational development. Although Munters believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, no ass