Vestum Ab · OMXSTO:VESTUM
Vestum Ab — Q3 2025 Earnings Presentation
11 slides from Vestum Ab's earnings presentation, Oct 23, 2025
Slide 1: Interim report presentation January-September 2025
CUZ VES Interim report presentatio’ January-September 2025 Vestum AB (publ)
Slide 2: Highlights Q3 2025
Highlights J3 2025 * Continued sequential profitability improvement * Stable demand with solid performance towards end of quarter * Tough comparables from last year drove organic growth to -2% * Cash flow impacted by investments and working capital tie-up * One acquisition completed after end of qua
Slide 3: Flow Technology segment
Flow Technology segment CS AS Market leading product technology specialists in improving water infrastructure Overall stable performance Solid demand across all 341 geographies 317 1 5D 287 288 | Back to organic growth in I | the UK towards the end of | | the quarter Acquisition after end of 66 66 i
Slide 4: Niche Products segment
Niche Products segment Leading product companies in selected technology niches * Sales in line with last year Profitability improved mS | year, mainly driven by 198 i rT vo 190 | i i sequentially but J | , 160 declined year-over- | operations with exposure to construction 32 = I 7 f 23 end-markets F
Slide 5: Solutions segment
Solutions segment Specialised solutions for maintaining, developing and streamlining properties and Lower sales in absolute transport networks terms driven by divestitures 754 6B4 ge 684 Stable overall demand but 638 ae aye . 589 568 569 lower profitability mainly aay 488 driven by our installation
Slide 6: New acquisition after quarter-end
New acquisition after end of quarter =(Q= pynamic Acquisition of Dynamic Fluid Solutions — a UK leader in Flow Tech | Oa * Dynamic Fluid Solutions is a UK leading provider of advanced pumping and fluid management systems for complex industrial and environmental applications * In-house design of high
Slide 7: Net sales and adjusted EBITA per quarter
Net sales and adjusted EBITA per quarter Adjusted EBITA Adjusted EBITA margin SEI SEI 1171 1182 1153 1070 1019 138 124 127 18% 116% 118% 120 10,8% 11,0% 102 102] 9g 889 78 Qi Q2 Q3 Q4] QI Q2/Q3 2024 Q3 QI Q2 Q3 Q4] QI Q2| Q3}Q4] QI Q2| Q3 2024 2025 QI Q2 Q3 Q4] QI Q2/Q3 2024 VESTUM
Slide 8: Net sales growth
Net sales growth SEKm * Net sales in the quarter decreased by 13% vs same quarter last year driven by the divestments in Q1 of two businesses in the Solutions segment, which to some extent was offset by the acquisition of Nortech 1019 -96 "6 a Organic growth was negative 2%, a downturn from the grow
Slide 9: LTM free cash flow bridge
LTM free cash flow bridge SEKm 303 -36 -73 -124 CF Op Activities Change in NWC Capex Leasing amort. FCF before NWC LTM cash flow from operating activities, before NWG, slightly lower than previous quarter Net working capital build up during the quarter expected to reverse in the coming 1-2 quarters
Slide 10: Net debt and leverage
Net debt and leverage 3,5x 3,0x 2,9x 2,5x 2,0x 25 2,6 1,5x 1,0x 0,5x Financial net debt / EBITDA R12 months (Leverage) 0,0x 2,8x 2,4 2,8x 2) 2) 20 2,0 1,4 2,8x 16 16 Qi Q2 2023 Financial net debt Q3 Q4 a Q2 Q3 Q4 2024 Financial net debt / EBITDA R12 months (Leverage) Q2 Q3 2025 + Financial target, 2
Slide 11: Summary
Summary * Solid performance in Flow Technology and strong market outlook in coming years, acquisition after end of quarter to further accelerate growth * Businesses with construction end-markets continue to phase challenging market conditions * Cash flow impacted by growth initiatives during the qua