Slide 1: Interim Report Q2 2025
Interim Report Q2 2025 Per Norén CEO André Löfgren CFO
Slide 2: Ovzon at glance
Ovzon at glance FACTS MISSION FINANCIALS • Founded in Sweden 2006 • Listed on Nasdaq, Stockholm, Connecting EBITDA PER QUARTER, MSEK 70 63 Sweden the world’s critical 60 50 • Main operations in Sweden and missions via 40 USA with international 30 17 18 customers and partners satellite 20 12 10 • Off
Slide 3: The accelerating urgency and demand for satellite communications
The accelerating urgency and demand for satellite communications GEOPOLITICAL TENSION CYBER SECURITY DIGITALIZATION CLIMATE CHANGE 6G Ovzon / Interim Report Q2 2025 2025-08-15 3
Slide 4: Market overview
Market overview Overall trends • Strong increase in defense investments in Europe • Expansion of NATO budgets • Constant shifts in the U.S. administration’s budget, priorities and procurements leads to uncertainty • Drive of European sovereignty – satellite communications system to ensure independen
Slide 5: Ovzon value proposition
Ovzon value proposition proposition Integrated SATCOM Ovzon provides solutions unique for critical SATCOM missions solutions with market leading performance, mobility and resiliency. We enable critical missions for defense, national security and public safety customers. SPACE SE GMENT MOBILE SATELLI
Slide 6: Ovzon
Live radar sharing Ovzon Secure Reliable broadband for Secure broadband connections transport aircraft for fast aircraft at sea Fast data for boats and ships Works even through helicopter rotors Stable link for remote- controlled vessels Connected Headquarters Support for small drones Internet acces
Slide 7: Our unique SATCOM solutions
Our unique SATCOM solutions Mission critical Critical communication – requirements GEO – Ovzon for reliability and resiliency drive value per unit Mass market services for both consumers and enterprise/government users – price sensitive LEO – Starlink, OneWeb, etc Different services (positioning ser
Slide 8: Q2 accomplishments
Q2 accomplishments Strong growth and improved profitability During the quarter • Renewal from European customer of 5.7 MUSD (approx. 55 MSEK) • Order from the Swedish Defence Materiel Administration (FMV) of 1.04 billion SEK After the end of the quarter • Additional order from FMV for mobile satelli
Slide 9: Historic milestone order
Historic milestone order 1.04 billion SEK order from the Swedish Defence Materiel Administration (FMV) • Largest order to date and a significant milestone • Includes Ovzon SATCOM service Hero, mobile satellite terminals (220 MSEK) and our dedicated customer support • Duration 24 months, delivery sta
Slide 10: Strong order intake and order book
Strong order intake and order book ORDER INTAKE (MUSD) ORDER BOOK (MUSD) 150.0 180 152.9 160 121.9 130.0 140 110.0 120 90.0 113.9 100 70.0 80 50.0 47 49 60 30.0 40 30 17.8 19.0 40 31.3 2.2 22.0 25.0 10.0 0.9 20 13.2 -10.0 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 0 QTD R12 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 • Order
Slide 11: Improving recurring SATCOM service revenue
Improving recurring SATCOM service revenue REVENUE (MSEK) RUN RATE REVENUE (MSEK)* OVZON SATCOM SERVICES 175 166 150 500 450 450 125 107 400 101 91 95 322 100 90 350 307 305 78 78 73 69 65 67 300 259 255 75 252 247 57 223 230 250 217 50 200 145 25 150 100 0 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23
Slide 12: Strong increase in EBITDA, EBIT and positive profit after tax
Strong increase in EBITDA, EBIT and positive profit after tax EBITDA AND EBITDA MARGIN (MSEK) EBIT AND EBIT MARGIN (MSEK) 40 20% 70 63 30 27 60 40% 10% 50 20 20% 0% 40 10 30 0% -10% 17 18 0 20 12 -20% -10 -20% 10 -9 -20 - 12 - 14 0 -40% - 17 - 18 - 16 -30% -10 -3 -5 -30 - 23 - 25 - 23 -20 -12 - 28 -
Slide 13: Operating cash flow
Operating cash flow CASH FLOW FROM OPERATIONS (MSEK) CASH FLOW FROM INVESTMENTS (MSEK) NET DEBT (MSEK) 80 150 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 700 636 649 66 60 22 22 23 23 23 23 24 24 24 24 25 25 587 60 600 561 100 20 - 520 529 40 - 100 500 50 -30 433 410 20 10 6 379 1 - 200 400 0 - -80 - 300 -5
Slide 14: Strong growth and improved profitability
Strong growth and improved profitability ORDER INTAKE (MSEK) REVENUE (MSEK) 1 200 1 600 200 166 500 1 092 1 400 400 1 000 1 200 150 800 300 1 000 95 107 100 90 600 800 67 200 600 400 209 400 50 179 100 200 10 22 200 - - 0 0 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 QTD R12 QTD R12
Slide 15: Going forward
Going forward DELIVER FINANCIAL PERFORMANCE • Continue strengthen the order book • Revenue growth • Improve EBITDA and Profit after tax • Positive cash-flow ENSURE COMMERCIAL SUCCESS • Make every customer a reference • Fully utilize Ovzon 3 • Focus on core market segments • Focus on relevant geograp
Slide 16: Thank you!
Ovzon’s Capital Markets Day 2025 Date: September 4, 2025, at 13:00 CEST Location: Inderes Event Studio Valo – Västra Trädgårdsgatan 19, Stockholm, Sweden More information and registration: https://ovzon.events.inderes.com/cmd-2025/register Thank you! Ovzon / Interim Report Q2 2025