Slide 1: Year-end report Q4 2024 presentation
VESTUM Year-end report Q4 2024 presentation
Slide 2: Vestum Internal
• • • • • • • • • • • • • Vestum Internal
Slide 3: Highlights 2024
Highlights 04 2024 * Market outlook continues to improve as organic growth beat Q2 and Q3 at -7.7% * Profit growth in the Water and Infrastructure segments, while the Services segment continues to face a tough market * Divestments and solid cash flow drive strong deleverage to 2.2x * New Group struc
Slide 4: Water segment
Water segment © AVY Market leading product technology specialists in improving water infrastructure Continued stable demand across all markets Margin impacted, as expected, by PDAS acquisition PDAS continues to improve its profitability level 737 235 7 l “ Q4 2023 Q4 2024 FY2023 FY2024 nN VEST Signi
Slide 5: Infrastructure segment
Infrastructure segment + Improved growth compared to Q2 and Q3 but still negative at -8% Experts in improving civic infrastructure * Margin expansion for the _ =| second quarter in a row “rR ined fe 1,901 1795 eaten ‘cus on improving profitability es 493 8 53 [ 54 ei Q4 2023 Q4 2024 FY2023 FY2024
Slide 6: Services segment
Services segment Energy efficiency service and maintenance offering to property owners 464 54 425 re fi © Q4 2023 Q4 2024 FY2023 FY2024 + Improved growth compared to Q1, Q2 and Q3 but still challenging market environment as growth was negative at -8% Profitability impacted by lower volumes, less wor
Slide 7: New Group structure for growth
New Group structure for growth Flow Technology Niche Products Solutions ——_ - > * —— 1,088 (945) MSEK 18.5% (18.5%) 704 (819) MSEK 12.4% (14.9%) 2,454 (2,651) MSEK 7.1% (9.5%) Net sales 2024 EBITA margin 2024 Net sales 2024 EBITA margin 2024 Net sales 2024 EBITA margin 2024 44% 19% 38% Share of Grou
Slide 8: Net sales and adjusted EBITA per quarter
Net sales and adjusted EBITA per quarter @ : E ir Fa 171 1182 1153 1070 1083 993 | | 991 | 1019 a a2 a3 |aa} ar a2 a3] a4 2023 2024 103 Qi Adjusted EBITA € PNotsoles Acted EBITA e w 102 138 124 | 127 120 m | Q2. Q3 | Q4] Qi Q2 Q3 2023 2024 a4 18% 11,6% 10,4% 10,8% Q4 Qi Adjusted EBITA margin E Q2 8,
Slide 9: Net sales growth
Net sales growth SEKm 4 1182 —_ -91 Acquisitions & Organic growth divestments Q4 2023 Fx Q4 2024 * Net sales in Q4 decreased by 2.5% vs last year ¢ Negative organic growth in Q4 of 7.7% VESTUM
Slide 10: LTM operating cash flow
LTM operating cash flow 657 635 608 | Q4 | Qi Q2 Q3 Q4 2023 2024 Operating cash flow R12 months — Cash conversion rolling 12 months * On anLTM basis, cash conversion remained strong at 105% per Q4 2024 VESTUM
Slide 11: LTM free cash flow bridge
LTM free cash flow bridge SEKm w * Cash flow from operating activities before NWC 300 Ae includes interest and tax payments * LTM free cash flow amounted to SEK 204m =e * LTM FCF/adj. EBITA of 49% CF Op Activities Change in NWC Capex Leasing amort. CIP before NWC VESTUM
Slide 12: Net debt and leverage
Net debt and leverage 3,5x 3 8 2,9x 29 5 3,0x * 2,8x 2,8x g Oo £ 25x = 5 € 2,2 N 28 E 20x i < 25 als 2A = 2A 5 2, , fi 15x 2,0 2,0 ~ 3 14 3 40x 3 2 3 € 0,5x 5 < = 0,0x Q4 a Q2 @3 Q4 a Q2 @3 Q4 2022 2023 2024 Financial net debt Financial net debt / EBITDA R12 months (Leverage) -+++++ Financial target
Slide 13: Summary
Summary * Sequential improvement on organic growth * Solid performance in Water and Infrastructure * Profitability in Services impacted by challenging market conditions * Capital structure to be improved in Q1 2025 leading to substantial annual interest cost savings * Level of product companies cont
Slide 14: VESTUM ==
VESTUM ==