Slide 1: Studsvik Group Interim Report Q3 2025
Studsvik Group Interim Report Q3 2025 Karl Thedéen, President and CEO Peter Teske, CFO November 4, 2025
Slide 2: Karl Thedéen, President and CEO
Karl Thedéen President and CEO Studsvik Interim Report Q3 2025
Slide 3: Empowering the nuclear industry from new build to decommissioning
Empowering the nuclear industry with solutions from new build through life extensions to decommissioning GLOBAL SALES IN 893 NET SALES 2024 15+ 500+ EMPLOYEES SEK Million COUNTRIES ACROSS 7 COUNTRIES IN ALL REGIONS IN EUROPE, ASIA AND US Studsvik Interim Report Q3 2025
Slide 4: Studsvik offerings
Studsvik offerings Empowering the nuclear industry with solutions from new build through life extensions to decommissioning OTHER SERVICES IN NEW BUILD OPERATING PLANTS DECOMMISSIONING RADIOACTIVE SPACES • Fuel and materials testing • Fuel and materials testing • Waste treatment • Isotope production
Slide 5: Positive financial performance in an expanding market
Positive financial performance ▪ Sales in the quarter amounted to SEK 205.8 (200.8) million, an in an expanding market increase of 2.5 per cent, equivalent to an increase of 5.1 per cent in local currencies Quarter 9 months Jan-Dec Q3 2025 Q3 2024 2025 2024 2024 ▪ Continued improved profitability an
Slide 6: Key milestones in Q3 2025
Key milestones in Q3 2025 • Business Area Fuel, Materials and Waste Management Technology continued operate in very positive market environment, leading to a strong improvement in results compared to last year • Completed discussions with Blykalla and evroc regarding a Memorandum of Understanding to
Slide 7: Studsvik Business Areas
Studsvik Business Areas Decommissioning and Radiation Fuel, Materials and Waste Studsvik Scandpower Protection Services Technology Studsvik Interim Report Q3 2025
Slide 8: Decommissioning and Radiation Protection Services
Business Area Decommissioning and Radiation Protection Services Offers the entire chain from planning and project management to radiological assessments, radiological clearance of material and waste documentation • The market situation is competitive, but customer interest in our offerings is high,
Slide 9: Fuel, Materials and Waste Technology
Business Area Fuel, Materials and Waste Technology Services in nuclear fuel qualification, analysis of material, research on final disposal, including waste management solutions • Momentum in the test production and we have a new organisation in place with a more customer and operational focus • Con
Slide 10: Studsvik Scandpower
Business Area Studsvik Scandpower World-leader in development and support of software for reactor fuel analysis independent of fuel suppliers • Solid business that experienced seasonal variations, resulting in a low share of licence sales, impacting revenue and margins • Strong demand for our existi
Slide 11: Peter Teske, Chief Financial Officer
Peter Teske Chief Financial Officer Studsvik Interim Report Q3 2025
Slide 12: Business Area financial results: Decommissioning and Radiation Protection Services
Business Area financial results Decommissioning and Radiation Protection Services Decommissioning and Quarter 9 months Jan-Dec 44% Radiation Protection Services Q3 2025 Q3 2024 2025 2024 2024 Sales, SEK million 90.7 95.6 266.7 278.9 373.3 of total revenues Q3 Operating profit, 4.4 7.9 10.7 19.8 24.0
Slide 13: Business Area financial results: Fuel, Materials and Waste Technology
Business Area financial results Fuel, Materials and Waste Technology • Good progress in our customer projects, positive productivity development and a favourable mix in the product portfolio, contributing to stronger competitiveness and improved profitability • Margin improvement thanks to implement
Slide 14: Business Area financial results: Studsvik Scandpower
Business Area financial results Studsvik Scandpower Quarter 9 months Jan-Dec Studsvik Scandpower Q3 2025 Q3 2024 2025 2024 2024 Sales, SEK million 38.7 44.3 120.5 118.3 179.9 Operating profit, 7.8 4.1 21.4 11.0 32.7 SEK million Operating profit 20.3 9.1 17.8 9.3 18.2 margin, % • The Business Area is
Slide 15: Net Sales
Net Sales • Sales in the quarter amounted to SEK Q3 and first nine months 2025 205.8 (200.8) million, an increase of 2.5 per cent • In local currencies this is equivalent to an increase of 5.1 per cent • The sales increase was driven by increased sales in Fuel, Materials & Waste Management Technolog
Slide 16: Operating profit
• Operating profit increased in the quarter to Operating profit SEK 13.2 (–0.5) million and the operating Q3 and first nine months 2025 margin was 6.4 (–0.3) per cent • The improvement in operating profit was driven by Business Area Fuel, Materials & Waste Management Technology and the partial repay
Slide 17: Free cash flow
Free cash flow • Cash flow from operating activities for the Q3 and first nine months 2025 quarter was SEK 26.0 (38.0) million and free cash flow was SEK 17.3 (–18.4) million • The improvement is explained by higher operating profit, lower levels of investments and the completed acquisition of Extre
Slide 18: Financial targets and YTD 2025 Performance
Financial targets and YTD 2025 Performance FINANCIAL TARGET YTD 2025 2024 Growth > 6% 4.1% 8.4% Operating margin > 12% 7.6% 3.0% Equity-to-asset ratio 40% 37.8% 37.8% Studsvik Interim Report Q3 2025
Slide 19: The Market
The Market Studsvik Interim Report Q3 2025
Slide 20: Small Modular Reactor, SMR market outlook
Small Modular Reactor, SMR market outlook Studsvik Interim Report Q3 2025
Slide 21: Exploring new developments
Exploring new developments • MoU signed between Studsvik, Blykalla and evroc to explore the development of Sweden's first nuclear-powered data centers at Studsvik's site in Nyköping • Establishes Sweden as a frontrunner in the global energy shift, leveraging Studsvik's licensed site and competence,
Slide 22: Robust market signals
Robust market signals United Kingdom United States Japan • 9 plants in operation (~6GWe) • 94 Operating Light Water • “All-out efforts for restart”* • Great British Energy – Nuclear Reactors • 14 plants restarted, aim to re- (GBN) : UK Government body • Recent Completion 2 large start 36 out of 60 t
Slide 23: Global nuclear market statistics
Global nuclear market statistics 30 2028 2,5x 25% Countries considering The year when electricity or moving forward with The increase in capacity consumed from data The added capacity plans to introduce that global nuclear could centers is expected to contribution from SMRs nuclear power into their
Slide 24: Impactful innovations fueling growth
Impactful innovations fueling growth New software inDRUM facility in innovations for fuel Sweden optimisation for the SMR market Innovation at Studsvik BlackStarTech EBS acquisition for acquisition for specialised tooling battery power used in systems decommissioning Studsvik Interim Report Q3 2025
Slide 25: Final comments
Final comments
Slide 26: Q3 2025 Summary
Q3 2025 Summary • Solid quarter with improved profitability and cashflow • In the quarter, Studsvik delivered improved profitability, result and a positive cashflow, significantly better compared to Q3 2024 • In the first nine months, Studsvik doubled profitability compared to last year • High globa
Slide 27: Thank You! Q&A
Thank You! Q&A AGE
Slide 28: Forward-looking statements
This presentation may contain forward-looking statements. Such statements are based on our current expectations and are subject to certain risks and uncertainties that could negatively affect our business. Please read our most recent annual report for a better understanding of these risks and uncert
Slide 29: Studsvik Interim Report Q3 2025
Studsvik Interim Report Q3 2025