Slide 1: Q4 report 2025/26
2025/26 We create better air. Q4 report Every day. Webcast June 10, 2026 Worldwide. Robert Larsson, CEO | Anders Ulff, CFO
Slide 2: Agenda
Agenda 01 Systemair in brief 02 Fourth quarter summary 03 Q4 Financials 04 Projects and product launches 05 Q&A Systemair Q4 | 2025/26 2
Slide 3: Systemair in brief
Systemair in brief 1974 51 Established in Number of countries with Skinnskatteberg, own sales companies Operating from the core values of simplicity and Sweden, today HQ reliability, our business concept is to develop, 19 manufacture and market energy-efficient, high-quality ~1,300 Countries ventila
Slide 4: Strategic update Q4
Events & Updates Strategic update Q4 → March; Systemair, Frico, SagiCofim, and Menerga showcased joint strengths at the Mostra Convegno Expocomfort (MCE) in Milano, one of the world’s leading international trade fairs for the • Strong organic growth HVAC industry. • Strong focus on commercial → Apri
Slide 5: Markets
Markets We have a global 15% and diversified customer base. This 11% provides us with a 45% solid foundation for profitable growth 13% and high resilience. 16% ⬤ ⬤ ⬤ ⬤ ⬤ 45% 16% 13% 11% 15% Western Europe Nordic Region Eastern Europe North America Other markets (44) (16) & the CIS (12) (15) (13) Sys
Slide 6: Net sales
Net sales 3276 25 20 +9.6 % 3069 3002 Organic 15 Growth 10 5 0 Q4 20/21 +9.1 % Q4 21/22 Q4 22/23 Q4 23/24 Q4 24/25 Q4 25/26 -5 Growth -10 Q4 Q4 Q4 2023/2024 2024/2025 2025/2026 Organic quarterly growth Organic growth R12 Systemair Q4 | 2025/26 6
Slide 7: Growth analyse Q4
Growth analyse Q4 Total growth +9.1% Organic 12 Organic growth in all regions except for the 10 Nordics. Eastern Europe and North America sticking out on the positive side. 8 Acquisitions 6 Effect from the acquisition of NADI in India. 4 Currency 2 Strengthened SEK against several currencies 0 mainl
Slide 8: Geographic breakdown Q4
Geographic breakdown Q4 Nordic region 2025/26 Change in of which Feb – Apr SE sales increased while NO is affected by low construction sales Organic 3 mths within residential and the DK market is struggling within commercial construction currently. Nordic region 537.6 -0.5% -0.3% Western Europe West
Slide 9: Adjusted operating profit Q4
Adjusted operating profit Q4 • The gross margin amounted to 36.3 percent (36.5). 282 292 260 • The operating profit for the fourth quarter amounted to SEK 251.4 million (246.5). The 209 operating margin amounted to 7.7 percent (8.2). • Adjusted operating profit amounted to SEK 291.8 million. Adjuste
Slide 10: Adjusted profit after tax Q4
Adjusted profit after tax Q4 • Net financial items for the fourth quarter amounted to SEK -4.2 million (-98.9). 214 • Currency effects on long term receivables, loans 164 167 and bank balances amounted to a net of SEK -9.5 million (-82.3). 119 • Interest expenses for the quarter amounted to SEK -11.
Slide 11: Cash flow analysis Q4
Cash flow analysis Q4 Q4 2025/26 Q4 2024/25 Cash flow from 309.6 291.7 operating activities Change in working capital -110.8 89.2 Net investments, excl -153.0 -117.0 acqusitions Free cash flow 45.8 263.9 Net debt 888.1 901.0 • Changes in working capital mainly due to increased trade receivables +156
Slide 12: Total net sales and Adjusted EBIT – Full year
Total net sales and Adjusted EBIT – Full year 14,000 18% 12,503 16% 1,400 9.4% 10% 12,000 1,170 9% 14% 1,200 10,000 8% 12% 1,000 7% 8,000 10% 6% 800 6,000 8% 5% 6.1% 600 4% 6% 4,000 3% 400 4% 2% 2,000 200 2% 1% 0 0% 0 0% 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22 2022/23 2023/24 2024/25 2025/26
Slide 13: Demand-controlled ventilation sets a new benchmark for energy-efficient commercial buildings
Demand-controlled ventilation sets a new benchmark for energy-efficient commercial buildings • New headquarters of Hermann Vogl Heizung und Sanitär GmbH in Lenting, Germany, has installed ventilation systems that continuously adjust airflow volumes, responding in real time to changing conditions. •
Slide 14: King Fahd Sport City KFSC – Riyadh, Saudi Arabia
King Fahd Sport City KFSC – Riyadh, Saudi Arabia • One of the largest stadiums in the region with 80,000 to 90,000 seats, VIP areas, sports museum, store and tunnels is being built for the 2027 AFC Asian Cup Stadium and the 2034 FIFA World Cup Stadium • One Partner – One Comprehensive Solution Syste
Slide 15: Sweden: Clear path to accelerated profitable growth
Sweden: Clear path to accelerated profitable growth Strategic direction Execution • Defined growth strategy aligned with • Rebuilt commercial model with stronger Group targets sales focus and accountability • Prioritising high-growth segments (AHU, • Increased sales capacity and local Installers, Di
Slide 16: Q&A
Q&A Systemair Q4 | 2025/26 17