Munters Group Ab · OMXSTO:MTRS
Munters Group Ab — Investor Presentation (November 2025)
25 slides from Munters Group Ab's investor presentation, November 2025
Slide 1: Investor Presentation Virginia - November 2025
Investor Presentation Virginia - November 2025
Slide 2: Forward-looking statements
This presentation contains forward-looking statements that reflect Munters current expectations on future events and Munters financial and operational development. Although Munters believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, no ass
Slide 3: Q3 highlights
Q3 highlights Klas Forsström, CEO & President 3
Slide 4: Strong growth and solid profitability
Strong growth and solid profitability Q3: Strong order intake Q3: Increased net sales growth Q3: Solid profitability AirTech DCT FoodTech AirTech DCT FoodTech AirTech DCT FoodTech Group MSEK MSEK % 4 000 30 5 000 25 19.5% 3 000 20 19.4% 2 000 15 2 500 10 13.5% 1 000 5 7% 0 0 0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q
Slide 5: AirTech is the global leader in air treatment for industrial applications
Munters AirTech – Region Americas November 2025 AirTech AirTech is the global leader in air treatment for industrial applications Order Intake Net Sales Adjusted EBITA margin Order intake, by customer segment 7,134* 7,583* 7.3%* 19% 10% 12% 20 2,255 2,260 21% 2,136 28% 2,051 1,996 1,978 2,011 1,922
Slide 6: Solid demand across segments
Solid demand across segments AirTech Order intake per customer MSEK, Q segment* MSEK, LTM 2 500 10 000 Customer % order Market segment** intake Q3 outlook* 2 000 8 000 Industrial 50% → Battery 10% → 1 500 Commercial 12% 6 000 Other industrial 28% → Clean Technologies 10% 1 000 4 000 Service & Compon
Slide 7: Sustainable cooling solutions that facilitate digitization
Data Center Airech Technologies Sustainable cooling solutions that facilitate LTM distribution of order intake digitization Customer segment 2% 36% Order intake, MSEK* Net sales, MSEK* Adjusted EBITA margin* 6,461 5,899 20.8% 62% MSEK Large orders announced through press releases MSEK % 11600 600 24
Slide 8: A world leader in digitalizing the food supply-chain
FoodTech A world leader in digitalizing the food supply-chain Customer segments, order intake, LTM 2% 10% Order intake, MSEK* Net sales, MSEK* Adjusted EBITA-margin* 25% 56% 1,852 1,657 18.4% 7% MSEK MSEK % 600 30 486 Broiler Swine Layer 400 % Plants Other 19.4% 400 20 435 Segment order intake, 200
Slide 9: Controllers: a focused digital offering
FoodTech A focused digital offering Offering Customers Controllers ~SEK 650 Food Supply Chain bn Digitalization 2034 Controllers Farmers, ~SEK integrators +50,000 30 bn & dealers connected/prepared to TAM for our Automate, monitor, optimize be connected offering environments with digital connectivit
Slide 10: Progression towards our financial & sustainability targets
Sustainability targets Progression towards our financial & for 2030 – FY 2024 performance sustainability targets Reduce CO2e* Scope 1 & 2: Scope 3: 42.0% reduce by an Currency adj. growth Adj. EBITA margin OWC/net sales absolute average of reduction 51.6% per unit sold Q3 : +26% Q3 : 13.5% Q3 : 8.3%
Slide 11: DCT Deepdive
DCT Deepdive Stefan Aspman, GVP & President DCT Frank Pellegrino, Senior VP Sales & Strategy Michael Boucher, VP of Research & Development Jennifer Suba, VP DCT Finance
Slide 12: Key messages – what will set the agenda moving forward
Key messages – what will set the agenda moving forward AI & Cloud Growth Power density Energy AI driving growth while the cloud Increased power density Energy - in several aspects - is still the foundation for digital influences our technology and affects our positioning and infrastructure, and we a
Slide 13: Customers challenge - Thermodynamics
Customers challenge - THERMODYNAMICS • CPUs (Central Processing Units) and GPUs (Graphics Processing Units) are silicon-based microprocessors which contain many millions of transistors. These transistors switch on and off billions of times per second to process data. • Every time a transistor switch
Slide 14: Liquid cooling and heat rejection steps
Liquid cooling and heat rejection steps Liquid cooling Technology loop Facility/Rejection loop 1. DISSIPATION 2. CAPTURE 3. TRANSFER 4. RELEASE (INSIDE THE SERVER) (INSIDE THE DC) THROUGH INFRASTRUCTURE (OUTSIDE THE DC) Removing the heat from the chip Capture heat inside the data center through Tran
Slide 15: Data center heat rejection
Data center heat rejection 4 1. Dissipation – taking heat from the chip to the air or the liquid 2. Capture – heat is captured by the 3 CRAH (air) or the CDU (liquid) 3. Transfer – heat energy is transported to the heat rejection 1 equipment 4. Release – heat is 2 rejected to atmosphere or to be re-
Slide 16: A technology portfolio built to serve every customer need
A technology portfolio built to serve every customer need Fully compatible with both liquid and air cooling for high-performance computing and AI Refridgerant based infrastructure Chilled water infrastructure Air handling cooling systems 4. Release (Outside the DC) SyCool Stand-alone systems Chiller
Slide 17: Vision: Becoming a Full Cooling Solution provider
VISION | Becoming a Full Cooling Solution provider Coolant Distribution LCE - L2R SyCool CDU Units Dry air coolers Fan wall arrays and CRAH´s Evaporator for air Cooling Through a broad technology DX Air cooling platform, and tailored solutions, we units are turning our vision into reality – one data
Slide 18: Market players can be divided into four main categories
Market players can be divided into four main categories HIGH Vertical Houses Full Solution Providers • Broad range of end-to-end solutions • Benefits from scale and several “entry points” • Trusted with larger share of wallet to the DC projects Product Portfolio • Require broad portfolio, world clas
Slide 19: Total market growth & our addressable market
Total market growth & our addressable market Growth rate (%) according to industry sources Cooling ~10-15% of total DC CAPEX – 18.4 liquid cooling higher due to complexity 16.8 15.2 14.6 Other Electrical 12.8 12.3 Ø 13.6 11.6 10.9 Cooling Infrastructure 10.0 Liquid Cooling Premium Construction Marke
Slide 20: DCT wins record orders with a total value of MUSD 215
DCT wins record orders with a total value of 215 MUSD US hyperscaler customer custom-designed Computer Room Air Handlers (CRAHs) deliveries from end of 2026 to early 2028 largest combined order Munters has received from a single customer 20
Slide 21: High demand for our broad portfolio
High demand for our broad portfolio Order intake & backlog Order Intake increased; (currency effects, -25%) 8 000 • orders received across full product portfolio, strong demand for CDUs & CRAHs from colocators & hyperscalers 6,581 6 000 • EMEA growth, especially CRAHs & service offering, though over
Slide 22: Sustainable cooling solutions that facilitate digitization
Sustainable cooling solutions that facilitate LTM distribution of order intake digitization Customer segment 2% 36% Order intake, MSEK* Net sales, MSEK* Adjusted EBITA margin* 6,461 5,899 20.8% 62% MSEK Large orders announced through press releases MSEK % 11600 600 24 Hyperscalers Colo Enterprise 3
Slide 23: Continued strong execution, although impacted by tariffs
Continued strong execution, although impacted by tariffs Change (%) Q3 2025 Q3 2024 Org. Struct* FX Net Sales increased; MSEK • successful execution of backlog Order intake 2,164 898 149 17 -25 • deliveries of SyCool, CDUs, CRAHs in Order backlog 6,581 6,464 Americas & chillers in EMEA Net sales 1,5
Slide 24: Unlocking regional growth through our chiller offering
Data Center Technologies Unlocking regional growth through our chiller offering Geoclima acquisition delivering a strong contribution to order intake growth • Energy-efficient chillers featuring unique cylindrical condensers and evaporators, combined with high- performance magnetic bearing compresso
Slide 25: Our global footprint: Investing for growth
OUR GLOBAL FOOTPRINT | Investing for growth Roanoke Ireland • DCT Main Hub. Our largest • All-new site of 120K ft2 to meet the growing manufacturing facility of 340K ft2 for demand for data center cooling in Europe the North American market. Completed first half of 2025 • Additional 200k ft2 planned
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