Trelleborg Ab Class B · OMXSTO:TREL_B
Trelleborg Ab Class B — Q4 2025 Earnings Presentation
29 slides from Trelleborg Ab Class B's earnings presentation, Jan 29, 2026
Slide 1: October-December 2025
)ctober-December 2025 — eter Nilsson, President & GEO = —— Fredrik Nilsson, CFO - : TRELLEBORG
Slide 2: Agenda
Agenda • Highlights Highlights Business areas Financials Summary & Outlook Q1 2026 Q&A 2 TRELLEBORG GROUP
Slide 3: Continued margin improvement
Continued margin improvement Q4 2025 financial summary1 • Sales at SEK 8 380 M (8 783), a decrease of 5 percent • Organic sales +1 percent, M&A +3 percent, currency -9 percent • EBITA at SEK 1 542 M (1 587), corresponding to a margin of 18.4 percent (18.1) – highest to date for a fourth quarter • Cu
Slide 4: Net sales and organic sales development by geography
Net sales and organic sales development by geography Region Share of global Net sales, Organic Net sales, Organic net sales 1 SEK M growth,% SEK M growth,% Oct – Dec 25 Oct – Dec 25 Oct – Dec 24 Oct – Dec 24 Europe 43% 3 601 +4% 3 569 -5% Americas 33% 2 729 +3% 2 854 -1% Asia & 24% 2 050 -4% 2 360 +
Slide 5: Agenda
Agenda • Highlights Highlights Business areas Financials Summary & Outlook Q1 2026 Q&A 5 TRELLEBORG GROUP
Slide 6: Lower project sales, margin improved
Lower project sales, margin improved Trelleborg Industrial Solutions1 • Organic sales -3 percent; M&A +4 percent • Sales decreased due to temporarily lower SEK M Q4 2025 Q4 2024 Change, % project deliveries Net sales 3 691 3 980 -7 • Varying sales in diversified industrials and construction segments
Slide 7: Organic sales growth, margins up
Organic sales growth, margins up Trelleborg Medical Solutions1 • Organic sales +5 percent; M&A +/- 0 percent • Solid sales growth to medtech in Europe and SEK M Q4 2025 Q4 2024 Change, % Asia Net sales 840 903 -7 • North America remained sluggish Organic, % +5 0 • Life science segment delivered stro
Slide 8: Organic sales growth improves further
Organic sales growth improves further Trelleborg Sealing Solutions1 • Organic sales +5 percent; M&A +3 percent • Sales to the industrials segment improved SEK M Q4 2025 Q4 2024 Change, % across all regions Net sales 4 058 4 089 -1 • Automotive segment declined, mainly in Europe, and remained sluggis
Slide 9: Sustainability KPIs – Group
Sustainability KPIs – Group Carbon dioxide emissions Scope 1 & 2 -28% ktons, CO₂ 18.0 17.0 16.5 16.0 14.0 12.2 12.2 12.0 10.0 8.3 8.0 6.0 4.0 2.0 0.0 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 9 TRELLEBORG GROUP
Slide 10: Sustainability KPIs – Group
Sustainability KPIs – Group Share of renewable and fossil-free electricity +10 pp GWh 88% 98% 100.0 80.7 79.4 77.2 79.6 76.8 78.7 80.0 75.9 74.8 71.9 66.6 60.0 40.0 20.0 0.0 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Renewable and fossil-free electricity Total electricity Renewable and fossil-free electricity /
Slide 11: Agenda
Agenda • Highlights Highlights Business areas Financials Summary & Outlook Q1 2026 Q&A 11 TRELLEBORG GROUP
Slide 12: Organic growth but negative F/X impact
Organic growth but negative F/X impact Group sales development -5% October – December (%) 8,783 8,380 Organic 1 Structural 3 Currency -9 Total -5 Q4 24 Q4 25 January – December (%) 0% Organic 1 34,170 34,329 Structural 5 Currency -6 Total 0 12M 24 12M 25 12 TRELLEBORG GROUP
Slide 13: Target: 8% annual sales growth with constant currencies over a business cycle
Target: 8% annual sales growth with constant currencies over a business cycle 1 % 30% 23 20% 16 12 10% 8 7 7 4 5 4 3 3 0 0% -10% -5 22 23 23 23 23 24 24 24 24 25 25 25 25 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Of which organic growth, %: 15 7 3 -1 0 -3 1 1 1 1 -1 4 1 1 Structural growth + organic gr
Slide 14: Sales development
Sales development Group, R12M SEK M SEK M 9,000 35,000 8,000 30,000 7,000 25,000 6,000 5,000 20,000 4,000 15,000 3,000 10,000 2,000 5,000 1,000 0 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 21 22 22 22 22 23 23 23 23 24 24 24 24 25 25 25 25 Quarter (LHS) R12M (RHS) 14 TRELLEBORG GROUP
Slide 15: EBITA-margin improved further
EBITA-margin improved further EBITA and margin development1 -3% +0.3 pp 1,587 1,542 18.1 18.4 EBITA Oct - Dec EBITA % Q4 24 Q4 25 Q4 24 Q4 25 +2% +0.3 pp 6,140 6,286 18.0 18.3 EBITA Jan - Dec EBITA % 12M 24 12M 25 12M 24 12M 25 1 Excluding items affe cting comparability 15 TRELLEBORG GROUP
Slide 16: R12M EBITA – continued improvement
R12M EBITA – continued improvement EBITA and margin, R12M1 SEK M % 7,000 +2% 20 6,000 18 5,000 4,000 16 3,000 14 2,000 12 1,000 0 10 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 21 22 22 22 22 23 23 23 23 24 24 24 24 25 25 25 25 EBITA EBITA % 1 Excluding items affe cting comparability 16 TRELL
Slide 17: Profit & loss statement
Profit & loss statement SEK M Q4 2025 Q4 2024 Change, % 12M 2025 12M 2024 Change, % Net sales 8 380 8 783 -5 34 329 34 170 0 EBITA, excluding items affecting comparability 1 542 1 587 -3 6 286 6 140 2 EBITA-margin, % 18.4 18.1 18.3 18.0 EBIT, excluding items affecting comparability 1 399 1 420 -1 5
Slide 18: Underlying EPS growth, but depressed by currency impact
Underlying EPS growth, but depressed by currency impact Earnings per share1 -7% % % +1% 3.99 3.71 6 4 4.24 4.30 4 Group Oct - Dec Group 2 excl. items affecting 2 comparability 0 0 Q4 24 Q4 25 Q4 24 Q4 25 % 0% % +2% 20 20 16.74 17.09 15.73 15.76 Group Group 10 Jan - Dec 10 excl. items affecting compa
Slide 19: Solid cash flow improvement
Solid cash flow improvement Operating cash flow1 1,681 204 3 1,726 SEK M Q4 2025 Q4 2024 Change -23 -10 EBITDA 1 921 1 944 -23 -129 Working capital 284 413 -129 Net capex -372 -576 204 Leasing -90 -93 3 Other -17 -7 -10 Operating cash flow 1 726 1 681 45 Q4 24 EBITDA Working Net Leasing Other Q4 25
Slide 20: Cash conversion remains at a strong level
Cash conversion remains at a strong level Operating cash flow, R12M1 SEK M % 6,000 140 5,500 5,000 120 4,500 100 4,000 99 92 95 93 3,500 88 89 90 92 80 88 85 87 3,000 85 76 74 75 2,500 69 60 63 2,000 40 1,500 1,000 20 500 0 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 21 22 22 22 22 23 23 23
Slide 21: Strong balance sheet despite numerous acquisitions and share buy-backs
Strong balance sheet despite numerous acquisitions and share buy-backs Gearing and leverage, R12M % X 56 2.5 2.4 60 50 2.0 40 1.5 1.2 30 25 20 1.0 0.9 1.0 20 16 10 0.5 0 0.0 -10 -6 -0.2 -0.5 21 22 23 24 25 21 22 23 24 25 Net debt / Equity Net debt / EBITDA 21 TRELLEBORG GROUP
Slide 22: ROCE impacted by several acquisitions with initially lower margins
ROCE impacted by several acquisitions with initially lower margins Return on capital employed, R12M, %1 17.5 16.5 15.7 16.1 15.9 15.1 14.9 15.0 13.9 13.0 12.9 12.7 13.0 12.5 12.2 12.5 12.0 11.7 12.0 12.1 10.0 7.5 5.0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 21 22 22 22 22 23 23 23 23 24 24
Slide 23: Financial guidelines for full-year 2026
Financial guidelines for full-year 2026 SEK SEK SEK ~1.45 B ~375 M ~650 M ~25% Capex Restructuring Amortization of Underlying costs intangible assets tax rate 23 TRELLEBORG GROUP Internal document
Slide 24: Agenda
Agenda • Highlights Highlights Business areas Financials Summary & Outlook Q1 2026 Q&A 24 TRELLEBORG GROUP Internal document
Slide 25: Organic growth with higher margin
Organic growth with higher margin Q4 2025 financial summary 01 02 03 04 Improved Margin Adverse Continued demand improvement currency impact share buy-backs TSS and TMS Highest EBITA Translation of Buy-back program recorded organic margin for a fourth currency reduced continues at a rate of growth,
Slide 26: Outlook Q1 2026
Outlook Q1 2026 • Demand is expected to be on a par with the fourth quarter of 2025, adjusted for seasonal variations • Due to the geopolitical situation, the outlook is associated with continued uncertainty 26 TRELLEBORG GROUP Internal document
Slide 27: Agenda
Agenda • Highlights Highlights Business areas Financials Summary & Outlook Q1 2026 Q&A 27 TRELLEBORG GROUP Internal document
Slide 28: TRELLEBORG GROUP
28 TRELLEBORG GROUP Internal document
Slide 29: www.trelleborg.com
VA TRELLEBORG www.trelleborg .com