Mt Hojgaard Holding A/s Class B · OMXCOP:MTHH
Mt Hojgaard Holding A/s Class B — MT Højgaard Holding — Q3 2025 Earnings Presentation
12 slides from Mt Hojgaard Holding A/s Class B's earnings presentation, Nov 12, 2025
Slide 1: Q3 2025 Presentation
Q3 2025 Presentation 12 November 2025 CEO Rasmus Untidt CFO Dennis Nørgaard
Slide 2: Q3 highlights
Q3 highlights Main points Revenue Operating profit (EBIT) DKKm DKKm EBIT margin Results in line with full-year outlook Operating profit Unchanged outlook for 2025 Strengthening of order portfolio -7% 3,139 142 Efforts to focus and simplify on track 2,675 2,585 2,625 126 2,397 Repayment of
Slide 3: Strategic focus areas improve balance across the Group
Strategic focus areas improve balance across the Group Total revenue across business areas DKKm Revenue Order intake Order book 2,585 DKKm DKKm DKKm 2,397 -7% 17% +43% -44% -2% 27% Civil engineering & infrastructure* 642 441 1,956 1,911 50% 448 249 42% +59% +6% -19% 28% 29% Partnerships & 4% 2% coll
Slide 4: Robust EBIT margin in MT Højgaard Danmark
Robust EBIT margin in MT Højgaard Danmark MT Højgaard Danmark DKKm Q3 2024 Q3 2025 Revenue 1,583 1,422 Operating profit (EBIT) 101 75 Share of the group’s Q3 2025 revenue Operating margin (EBIT) 6.4% 5.3% Order intake 995 790 59% Order book 6,908 6,307 • Modest contribution from large, multi-year pr
Slide 5: Improved EBIT margin in Enemærke & Petersen
Improved EBIT margin in Enemærke & Petersen Enemærke & Petersen DKKm Q3 2024 Q3 2025 Revenue 1,018 999 Operating profit (EBIT) 35 39 Share of the group’s Q3 2025 revenue Operating margin (EBIT) 3.4% 3.9% 784 1,041 41% Order intake Order book 4,875 4,800 • Stable project execution • >50% of revenue f
Slide 6: Higher net profit driven by lower net financials and reduced international losses
Viking Fortress Borgring Enemærke & Petersen Higher net profit driven by lower net financials and reduced international losses DKKm YTD 2024 YTD 2025 Revenue 7,543 7,697 Gross profit 569 605 Sales and administrative expenses -264 -259 Result of associates and joint ventures 41 -37 Operating profit (
Slide 7: Improvements in cash flow from operations and NIBD
Improvements in cash flow from operations and NIBD Cash flows from Return on invested capital Net interest-bearing Net working capital* operating activities (ROIC) deposit/debt +/- (NIBD) DKKm DKKm % DKKm +338 -2.5 pp. +367 +316 -9 151 -347 47.6% 45.1% 335 -216 19 YTD 2024 YTD 2025 * Working capital
Slide 8: The Group won unconditional orders worth DKK 1.8 billion
The Group won unconditional orders worth DKK 1.8 billion Additional orders worth DKK 1 billion will be recognised once finally contracted The Group’s order intake* The business units’ order intake* Selected orders DKKm LTM DKKm Q3 2024 Q3 2025 Driftsresultat Construction of +33% new metro 10,298 10,
Slide 9: The total order portfolio is growing
The total order portfolio is growing Total order portfolio increased to DKK 22.5 billion The Group’s total order portfolio Examples of awarded, but not yet contracted orders DKKbn Final, unconditional orders Estimated future activtity in partnerships Global warehouse for UNICEF in Awarded, but not y
Slide 10: Examples of contract wins after Q3
Examples of contract wins after Q3 Orders won by Enemærke & Petersen in Q4 Refurbishment of social housing area 3B Folehaven in Valby for Newbuild of two residential facilities in Copenhagen via By & TRUST the housing association 3B (KAB), 2026-31. DKK 1,033 million partnership with the City of Cope
Slide 11: 2025 outlook is unchanged
2025 outlook is unchanged 98% of the expected revenue from construction and civil work projects was contracted end-September Outlook Revenue and operating profit (EBIT) DKKm Revenue 10.0-10.5 12.000 10.000 500 400 DKKbn 8.000 300 6.000 200 4.000 EBIT 400-450 2.000 0 100 0 DKKm 2020 2021 Revenue 2022
Slide 12: Q&A / Investor Calendar
Q&A Investor Calendar • 12 November 2025 Interim Report - Q3 2025 • 7 January 2026 SEB Nordic Seminar • 20 February 2026 Annual Report 2025 • 19 March 2026 Annual General Meeting 2026