Asker Healthcare Group AB · OMXSTO:ASKER
Asker Healthcare Group AB — Q3 2026 Earnings Presentation
18 slides from Asker Healthcare Group AB's earnings presentation, November 2026
Slide 1: Q3 Interim Report January–September 2026
Q3 INTERIM REPORT JANUARY – SEPTEMBER 2026 Strong growth and strengthened EBITA margin Johan Falk, CEO Thomas Moss, CFO 1
Slide 2: Q3 Highlights
Q3 Highlights Q3 2026 • Continued strong growth and strengthened EBITA margin ADJ. EBITA GROWTH 24% • Net sales of SEK 4,756m, up 15%, of which 5% organic • Adj. EBITA of SEK 473m, up 24%, of which 4% organic (8% excl. temporary double costs related to the start of the new Gothenburg DC) • Adj. EBIT
Slide 3: Delivering on our financial targets
+21% +69% Adj. EBITA R/RK (EBITA/NWC) Delivering on our growth per year financial targets LTM 2025/2026 TARGET >15% TARGET >50% 10.0% 2.33x Adj. EBITA margin Net debt/EBITDA* TARGET (medium term) >10% TARGET <2.5x 3 *Adjusted for leases and items affecting comparability
Slide 4: Continuing to deliver stable and profitable total EBITA growth quarter after quarter
Continuing to deliver stable and profitable total EBITA growth quarter after quarter Adj. EBITA R121) SEKm 1,855 >15% CAGR 317 Q1 Q1 Q1 Q1 Q1 Q1 Q1 2020 2021 2022 2023 2024 2025 2026 4 1) EBITA excl. items affecting comparability and the estimated COVID-19 effect in 2020–2022.
Slide 5: Financial performance – Group
Financial performance – Group Continued solid growth in revenue and earnings Amounts in Q3 Q3 Jan–Sep Jan–Sep LTM January – September 2026 SEKm 2026 2025 2026 2025 25/26 Adj. EBITA growth Net sales 4,756 4,129 13,963 12,111 18,639 30% 25% 18% 23% Adj. EBITA 473 383 1,385 1,125 1,855 -1% 20% Adj. EBI
Slide 6: Business Area North
Business Area North Business in North continues to perform well with good organic growth Amounts in Q3 2026 Q3 2025 Jan–Sep Jan–Sep LTM January – September 2026 SEKm 2026 2025 25/26 • Adj. EBITA growth 4% Net sales 1,326 1,180 4,109 3,707 5,611 ⎯ Organic growth of 1% ⎯ Acquired growth of 2% Adj. EBI
Slide 7: 25% higher efficiency, with 75% of flows automated
25% higher efficiency, with 75% of flows automated 7
Slide 8: New Gothenburg DC on time and on budget – operations in transition
New Gothenburg DC on time and on budget – operations in transition Delivered Guidance FY 2025 H1 2026 H2 2026 H1 2027 H2 2027 → Built; automation Testing from April; early Fully operational; old and new Old sites closed Full run-rate installed operations sites run in parallel Italics: previous commu
Slide 9: Business Area West
Business Area West Continued momentum in West Amounts in Q3 2026 Q3 2025 Jan–Sep Jan–Sep LTM January – September 2026 SEKm 2026 2025 25/26 • Adj. EBITA growth 33% Net sales 2,460 2,215 7,040 6,243 9,340 ⎯ Organic growth of 14% ⎯ Acquired growth of 21% Adj. EBITA 284 212 721 543 936 ⎯ Exchange rate e
Slide 10: Business Area Central
Business Area Central Continued strong growth through acquisitions Amounts in Q3 2026 Q3 2025 Jan–Sep Jan–Sep LTM January – September 2026 SEKm 2026 2025 25/26 • Adj. EBITA growth 58% Net sales 971 735 2,815 2,161 3,688 ⎯ Organic growth of 14% ⎯ Acquired growth of 46% Adj. EBITA 110 65 280 177 361 ⎯
Slide 11: R/RK remained at a high level
R/RK remained at a high level R/RK • R/RK amounted to 68.8% (66.5) 100% • Continued efficient working capital utilisation across all business areas 80% 60% 40% 20% 0% Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 R/RK (EBITA/NWC) Asker target >50% 11
Slide 12: Continued robust cash flow
Continued robust cash flow Q3 Q3 Jan–Sep Jan–Sep LTM Full year Amounts in SEKm 2026 2025 2026 2025 25/26 2025 • Adj. cash flow from operating activities SEK 364m (439) in Q3, with increased Adj. cash flow from 364 439 1,113 760 1,738 1,385 working capital of approx. SEK +100m due to operating activi
Slide 13: Stable leverage below target level, allowing for continued acquisitions
Stable leverage below target level, allowing for continued acquisitions Amounts in SEKm 30 Sep 2026 30 Sep 2025 • Leverage slightly reduced from the end of Q2 (2.37x), with capacity for further M&A in Q4 and beyond Net debt 4,637 3,648 EBITDA* 1,989 1,647 • Alternative leverage ratio (equivalent to
Slide 14: 2026 M&A target already reached
2026 M&A target already reached Month Business Annual sales, completed Acquisition Area SEKm* • 4 acquisitions signed in the quarter October Labo Clinic Central 100 — Murray Surgical in Ireland and Med Kjemi October Ambercell Solutions North 250 in Norway finalised in the quarter YTD 2026 September
Slide 15: Explore an acquisition – Murray Surgical, closed in July
Explore an acquisition – Murray Surgical, closed in July • Acquired in July 2026 and integrated into HSL Group, Asker's platform in Ireland • Strong position across Irish hospitals with specialist expertise spanning multiple surgical disciplines • Product portfolio highly complementary to HSL Group'
Slide 16: Q3 in summary
Q3 in summary • Continued strong growth with good organic momentum, a high pace of acquisitions and robust cash flow • Adjusted EBITA margin now on target at 10% LTM • 100% of the acquisition target for 2026 already reached, with continued good visibility for the rest of the year • Our ambition rema
Slide 17: Q&A
Q&A
Slide 18: Financial calendar
Financial calendar • Year-end report 2026 10 February 2027 • Q1 report 2027 22 April 2027 • Annual General Meeting 5 May 2027 • Q2 report 2027 16 July 2027 • Q3 report 2027 22 October 2027 We are health in progress • Improve patient outcome • Reduce total cost of care Additional information • Ensure
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