Slide 1: 2025 Q2 results presentation
2025 Q2 results presentation 18 July, 2025
Slide 2: Ongoing market volatility, result and order intake remaining unsatisfactory
• Ongoing market volatility, result and order intake remaining unsatisfactory • IT incident at Whitecroft, affected the result • Continued positive gross profit, cost improvements and higher order backlog • Very high activity level and focus on improving order intake • Acquisitions strengthen the Gr
Slide 3: Q2 2025 in figures
Q2 2025 in figures Order intake: 1 905 MSEK (2 131) – 6,5% organic Net sales: 1 848 MSEK (2 167) –10,4% organic Operating profit before IAC : 119 MSEK (196) Operating margin before IAC: 6,5% (9,1%) Earnings per share before IAC: 0,32 SEK (0,62) 3
Slide 4: YTD 2025 in figures
YTD 2025 in figures Order intake: 4 132 MSEK (4 233) – 0,4% organic Net sales: 3 788 MSEK (4 347) –10,7% organic Operating profit before IAC : 265 MSEK (417) Operating margin before IAC: 7,0% (9,6%) Earnings per share before IAC: 0,76 SEK (1,40) 4
Slide 5: Business areas
Business areas Collection Premium Professional Infrastructure People & Innovation Sustainability Culture 5
Slide 6: Premium solutions for the European market
• Premium solutions for the European market • Work closely with specifiers to provide premium projects, often bespoke solutions • The majority of sales are indoor applications, with some outdoor offering for selected markets • A stable and profitable Business Area 6
Slide 7: Brand
Brand • Founded 1945 in Fagerhult by Bertil Svensson • Well-known in the Nordics, UK and northern Europe Focus • High-quality, excellent lighting knowledge and trusted partnerships • Leading in innovation, smart lighting and sustainability Applications • Education, Office, Retail, Healthcare, select
Slide 8: Brand
Brand • Founded in 1985 in Ravensburg, southern Germany • Majority of sales in German speaking countries • Joined Fagerhult Group 2010 Focus • Main focus on retailers across multiple segments • High customization & flexibility to meet various store concepts Applications • Retail, Office and Hospital
Slide 9: Brand
Brand • Founded 1947 in Roubaix by Michel Picha • Market leader in Retail & Healthcare interiors in France Focus • Trato: Lighting for the retail, public transport and industry sectors • TLV/Biolume: Hospital room interiors and equipment • A highly customer-focused culture with agile production Appl
Slide 10: Company, Opportunity, Solutions
Company • Pioneer in solutions for connected street lighting and smart city applications • Swedish market leader and +20 years in the industry Opportunity • The reference in smart street lighting with large potential for international expansion • Attractive business model with a solid base of recurr
Slide 11: A key partner in driving smart lighting for outdoor markets towards our 2030 vision
• A key partner in driving smart lighting for outdoor markets towards our 2030 vision • The EU ban on HPS lamps from February 2027 will push cities to invest in LED luminaires with smart tech • Smart lighting market in Europe, projected to grow by 22% • Outdoor lighting can make up to 50% of municip
Slide 12: Construction activity: Commercial properties
2023 2024 2025 2026 2027 2024-2025 2.2 • New data indicates a deeper decline for 2024 than the 1.7 1.8 1.8 1.9 1,8 preliminary figures from December (from -0.8% to -1.2%) 1.5 1.4 1.1 • 2025: Growth in renovation and new construction still 0,8 0.5 expected, despite a downward revision (from +1.3% to
Slide 13: EUROCONSTRUCT countries, non-residential renovation market share
S: EUROCONSTRUCT (2025/EC99). – EUROCONSTRUCT 19 countries, non-residential renovation market share 50,4% 50,2% 50,2% 50,0% 48,7% 47,7% 47,9% 13
Slide 14: Financial summary Q2
Financial summary Q2 MSEK Q2 2025 Q2 2024 YTD 2025 YTD 2024 Net sales 1 848 2 167 -14,7% 3 788 4 347 -12,9% - Organic growth -226 -10,4% -466 -10,7% - FX-differences -93 -93 Operating profit before IAC 119 196 -39,3% 265 417 -36,5% Operating profit before IAC, % 6,5% 9,1% -2,6 p.p. 7,0% 9,6% -2,6 p.
Slide 15: Financial summary YTD
Financial summary YTD MSEK Q2 2025 Q2 2024 YTD 2025 YTD 2024 Net sales 1 848 2 167 -14,7% 3 788 4 347 -12,9% - Organic growth -226 -10,4% -466 -10,7% - FX-differences -93 -93 Operating profit before IAC 119 196 -39,3% 265 417 -36,5% Operating profit before IAC, % 6,5% 9,1% -2,6 p.p. 7,0% 9,6% -2,6 p
Slide 16: Sales development
Sales development Net sales R12 Net sales R12, MSEK 9000 8000 7000 6000 5000 4000 3000 2000 1000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2022 2023 2024 2025 16
Slide 17: Margin development
Margin development Operating margin before IAC by quarter and R12 Operating margin before IAC,% Rolling 12 months 17
Slide 18: Collection
Collection Financials Q2 ─ Order intake 884 (894) MSEK, organic +3,9% ─ Net sales 886 (1 017) MSEK, organic -8,2% ─ Operating margin before IAC 9,6% (11,4%) Business update ─ Good order intake growth in Q1 +3,9% ─ Better order intake growth in H1 +6.5% ─ King Salman Park deliveries have started, les
Slide 19: Premium
Premium 900 18% Financials Q2 800 16% ─ Order intake 637 (735) MSEK, organic -10,8% 700 14% ─ Net sales 659 (739) MSEK, organic -8,0% 600 12% ─ Operating margin before IAC 14,0% (12,4%) 500 10% 400 8% Business update 300 6% ─ Volatile order intake, Q1 flat, Q2 -10.8% 200 4% ─ Improved margins despit
Slide 20: Professional
Professional Financials Q2 ─ Order intake 234 (269) MSEK, organic -6,5% ─ Net sales 192 (277) MSEK, organic -23,8% Business update ─ Year to date order intake growth of +4.9% ─ Significant increase in order backlog ─ IT incident at Whitecroft damages the result 20
Slide 21: Infrastructure
Infrastructure Financials Q2 ─ Order intake 147 (233) MSEK, organic -33,8% ─ Net sales 163 (205) MSEK, organic -16,4% ─ Operating margin before IAC -0,4% (4,9%) Business update ─ Designplan delivers an improved Q2 ─ Weak order intake at Veko impacting net sales and operating profit ─ High focus on o
Slide 22: Cash flow
Cash flow Operating cash flow by quarter and R12 Cash flow by quarter, MSEK Rolling 12 months 22
Slide 23: Net debt development
Net debt development Net debt and Net debt/EBITDA ratio Net debt, MSEK Net debt/EBITDA* *EBITDA adjusted for acquisitions/divestments on a proforma basis and excluding items affecting comparability 23
Slide 24: Earnings per share
Earnings per share Earnings per share by quarter and R12 Earnings per share before IAC by quarter, SEK Rolling 12 months 24
Slide 25: Market volatility remains
• Market volatility remains • Cost reductions continue to come through • Continued positive signs in renovation and very early signs in new build • We look forward to starting our work with both Trato and Capelon
Slide 26: Q&A