Slide 1: QleanAir
G GleanAir
Slide 2: QleanAir Investor Presentation Q1 2025
QleanAir Investor Presentation Q1 2025
Slide 3: Premium CleanTech solutions for indoor air cleaning
Premium CleanTech solutions for indoor air cleaning Speakers Sebastian Lindström Fredrik Sandelin CEO CFO 3 QLEANAIR | Q1 INTERIM REPORT 2025
Slide 4: Q1 - Slightly weaker revenue and stable gross margin
Q1 - Slightly weaker revenue and stable gross margin 116 (119) 71 (75) Net sales, SEK millions Recurring revenues, SEK millions 68.5 (68.9) 8.4 (11.6) § New product launch is gaining traction § Improved gross margin in US Gross-margin, % Adj. EBIT-margin, %, adjusted § Renewals to finance companies
Slide 5: Asset light business model - Back to normal renewal cycle
Asset light business model - Back to normal renewal cycle of rental contracts to finance companies in Japan Revenue split 160 140 43 19 120 29 12 21 16 18 16 12 19 13 16 13 15 16 12 33 8 100 14 18 6 39 35 30 32 27 28 28 20 41 30 25 30 38 36 30 27 31 80 26 30 24 20 60 40 78 76 79 77 70 71 74 75 74 73
Slide 6: Continued push in EMEA -> Improved gross margin
Continued push in EMEA -> Improved gross margin EMEA Customer case – The SNADEC Group • Installed base: ≈ 6 410 units. >1 800 customers • The SNADEC Group is the French leader in independent • Business model: rental contracts, rental contracts sold to finance asbestos removal. companies and product
Slide 7: Sales efficiency drives growth and profitability in APAC
Sales efficiency drives growth and profitability in APAC APAC - Japan APAC Customer Case: relax 24 • Installed base: ≈ 3 500 units, >1 500 customers • Relax24 is an internet café located in Tokyo that is open around • Business model: 3-5 year rental contract the clock. • Direct Sales force, Regional
Slide 8: Strong quarter and good order backlog in Americas
Strong quarter and good order backlog in Americas Americas Customer Case: UNC Health § Installed base >100 Cleanrooms • UNC Health is a not-for-profit integrated health system providing comprehensive healthcare services in North § Q1 Sales SEK 16 (12) million, +24%, improved gross margin Carolina. §
Slide 9: Focused and systematic approach
Focused and systematic approach Doing the right activities within the organization will increase the financial results - Top three priorities Cost control Sales efficiency Customer focus § Further reduction of central § Launch of incentive scheme review for § The third run of the annual workshops or
Slide 10: Financial update
Financial update Fredrik Sandelin, CFO 10
Slide 11: Q1 by region
Q1 by region ≈3 400 customers Sales split by Region, % 14 42 EMEA APAC 44 AMERICAS EMEA APAC AMERICAS • 42% (47%) of sales • 44% (42%) of sales • 14% (11%) of sales • All three product categories • Cabin Solutions and Air Cleaners • Cleanrooms 11 QLEANAIR | Q1 INTERIM REPORT 2025
Slide 12: Q1 – EMEA & APAC biggest regions representing 86% of total sales
Q1 – EMEA & APAC biggest regions representing 86% of total sales EMEA –longer sales cycles, APAC – sales efficiency drives AMERICAS – strong quarter, good improved gross margin growth, stable high gross margin order backlog and improved gross margin § Q1 Sales SEK 49 (56) million, -12% § Q1 Sales SE
Slide 13: Q1 - Slower sales & stable gross profit
Q1 - Slower sales & stable gross profit Sales & recurring revenues Profitability 100 92 86 83 82 82 160 80 80 73 70 68 140 135 60 71 68 67 67 69 66 69 63 62 121 124 124 40 119 120 115 116 113 20 104 100 0 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 80 Gross profit, SEKm Gross margin % 25 6
Slide 14: Stable rental revenues with high margins from units in own balance sheet
Stable rental revenues with high margins from units in own balance sheet, service & maintenance contracts 310 299 306 307 304 301 299 10000 294 282 285 9000 Per Unit ARR >5x Value in Balance Sheet 260 8000 Book Value, MSEK Book Value/Unit, SEK ARR/Unit, SEK 210 7000 Mar 45 ≈ 9 400 ≈ 63 700 5283 5288
Slide 15: Revenue split & installed base
Revenue split & installed base Revenue split combining recurring revenue, sales Stable installed base of rental contracts to finance companies & product sales SEKm Units 160 14 000 140 12 000 19 120 12 21 16 10 000 16 5 234 5 306 5 469 5 561 16 13 15 4 988 5 646 5 550 5 567 5 528 100 6 39 35 30 27 2
Slide 16: Balance sheet and cash flow
Balance sheet and cash flow § Net debt/equity ratio 0.9 (0.8), and equity ratio 33% (33%) § Continue to amortize quarter by quarter according to plan § Cash amounted to SEKm 36.3 (52.6) and cash-flow from operations in the quarter was 2.3 (0.2) SEKm § Waiver received for the first quarter § The Boar
Slide 17: Cleaned air in billion cubic meters per month
Cleaned air in billion cubic meters per month BCM 9,0 # 1 Human health challenge 8,0 Air pollution is the primary environmental challenge for human 8,0 7,4 health. 7,2 7,0 6,4 6,0 5,4 7 million 5,0 Around 7 million people die prematurely every year from 4,3 exposure to polluted air. 4,0 3,6 3,0 3,0
Slide 18: Sticking to the plan
Sticking to the plan § A systematic approach to operational and strategic development § Our three priorities - Sales Efficiency, Customer focus & Cost Control § Focused product development - Seven New Product launched targeting EMEA & APAC § Targeted Go-To-Market plan –Seven new products launched fo
Slide 19: Q&A
Q&A Sebastian Lindström, CEO Fredrik Sandelin, CFO
Slide 20: In summary QAIR
In summary QAIR Unique premium ≈ 3 400 corporate Pioneers in air cleaning Asset light business indoor air cleaning customers mainly technology with high model with an service based on located in Europe, barriers to entry increasing number of circular, rental Japan and the USA units installed cleanin
Slide 21: Thank you!
Thank you!
Slide 22: The freedom of clean air
The freedom of clean air Position The freedom of clean air is the promise The specialized provider of premium clean that we bring to our customers. air solutions. Purpose Making a real difference through clean air. Promise The freedom of clean air is what we bring to our customers.
Slide 23: Appendix
Appendix
Slide 24: Largest shareholders
Largest shareholders 03/31/2025 Shareholders %, capital and votes Swedia Capital 29.0% Fredrik Palmstierna 10.3% Avanza Pension 9.7% SEB, Luxemburg (Dan Petulia) 6.6% Life insurance company Skandia 4.6% Swedbank Försäkring (Jan-Olof Backman) 4.5% SEB Life Assurance, Ireland 3.3% Citibank London Nord
Slide 25: Board of directors
Board of directors Bengt Engström Fredrik Persson Jan-Olof Backman Dan Pitulia Sara Uhlén Chairman Board member Board member Board member Board member Born 1953 Born 1984 Born 1975 Born 1961 Born 1956 Position Chairman since Position: Board member since Position Board member since Position Board mem
Slide 26: Senior management
Senior management Sebastian Lindström Fredrik Sandelin CEO CFO Born 1965 Born: 1962 Position CEO since Dec 2022 Position: CFO since April 2025 Other assignments Other assignments Fredrik has several years of Senior advisor VEA Ventures experience as CFO for listed SRL, founder and chairman of compan
Slide 27: Communicated financial targets remain untouched
Communicated financial targets remain untouched We have; great products, a very knowledgeable and strong team on board and some of the most demanding clients of the industry. Our previously communicated financial targets will remain untouched. • Average annual rate of organic growth of approximately
Slide 28: The freedom of clean air is the promise that we deliver on to our customers
The freedom of clean air is the promise that we deliver on to our customers Sustainable products Responsible value chain Attractive employer Our offering – circular rental business model • In total we have ten strategic suppliers • Work environment & working conditions • Long-term rental and service
Slide 29: QleanAir
G GleanAir