Slide 1: Second Quarter 2025 Presentation
Second Quarter 2025 Presentation Mark Jensen Benno Eliasson CEO CFO
Slide 2: This is Ambea
This is Ambea The leading care provider in the Nordics Net sales (R12), MSEK Ambea 14 924 Nytida 4 435 Vardaga 5 265 Stendi 3 321 8% Validia 375 * 2% Altiden 1 309 9% 28% Klara 404 Adj. EBITA and adj. EBITA margin (R12), MSEK 4 088 MSEK Ambea 1 440 9,6% 20% net sales in Q2 Nytida 534 12,0% Vardaga 5
Slide 3: Quality and sustainability
Quality and sustainability Driving continued progress in engagement, wellbeing, and sustainability Ambea eNPS Stendi in national research study on digital health guidance +26 SCALE -100 – +100 Textile Recycling at Validia Validia collects discarded textiles and trans- 300 employees receive digital h
Slide 4: Future organic growth
Future organic growth Further expansion of own management pipeline to meet future demand Additions to the pipeline • Nytida signed a contract for an assisted living facility with a total of six new care places. Own management pipeline • Vardaga signed a contract to increase capacity by 30 beds at a
Slide 5: Acquired growth
Acquired growth Strong M&A momentum expected to continue • Acquisition of Validia in Finland was completed on 1 April. • Ambea acquired parts of AvAsta on 5 May with care units Acquired annual net sales per business area and year*, in both Vardaga’s and Nytida’s operational areas and with MSEK annua
Slide 6: Revenue growth
Revenue growth Total growth above target with strong acquired and solid organic growth 16,2% 13,1% 6,0% 5,7% 7,7% 5,3% 5,3% 6,3% 6,6% 4,6% 1,9% 7,7% 7,6% 7,2% 6,4% 5,9% 5,9% 5,3% 4,9% 4,2% Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 2023 2024 Q3 Q1 2025 Q2 2023 Q4 Organic growth Acquired/divested growth Curren
Slide 7: Highlights of Q2 2025
Highlights of Q2 2025 Higher growth rate and earnings • Net sales increased by 16 per cent, driven by 13 per cent acquired growth and continued strong organic growth. • Adjusted EBITA for the group amounted to 311 (271) MSEK, an increase by 15 per cent. Adjusted EBITA margin of 7,6 (7,7) per cent. •
Slide 8: Financial summary
Financial summary Benno Eliasson CFO 8
Slide 9: Net sales
Net sales Validia, Nytida and Vardaga drives majority of the growth in the quarter 10% 8% -2% 5% 0% 375 16 0 4 088 -7 96 106 - 17 3 519 Net sales Nytida Vardaga Stendi Validia Altiden Klara Elim. Net sales Q2 2024 Q2 2025 Net sales growth per business area 9
Slide 10: Adjusted EBITA
Adjusted EBITA Increased earnings in almost all business areas. Strong margin improvement in Altiden and Klara 7,7% -0,9pp 0,2pp -3,8pp 4,5pp 3,9pp 7,6% 14 4 2 311 10 39 271 3 - 32 EBITA Nytida Vardaga Stendi Validia Altiden Klara Other Adj. EBITA Q2 2024 Q2 2025 Total EBITA margin and margin develo
Slide 11: Strong adjusted EPS growth continues
Strong adjusted EPS growth continues The acquisition of Validia affected reported EPS 9,80 39,3%* 9,47 8,79 8,48 7,80 7,37 7,44 7,12 7,20 6,90 6,61 6,14 5,38 5,55 5,06 5,07 3,59 3,80 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2023 2023 2023 2024 2024 2024 2024 2025 2025 EPS LTM Adj EPS LTM Adjusted EPS excludes IFR
Slide 12: Operating cash flow
Operating cash flow Stable operating cash flow 100,3% 100,2% 97,9% 94,9% 95,6% 91,8% 91,6% 89,8% 85,3% 876 743 355 610 605 580 545 527 500 341 425 344 353 401 328 327 356 521 360 402 217 236 252 209 173 171 65 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2023 2024 2025 Operating cash flow, excl. growth CAPEX & IFRS16
Slide 13: Free cash flow R12 excl. IFRS16
Free cash flow R12 excl. IFRS16 High free cash flow generation R12 1 334 1 440 1 246 -1 473 - 55 - 65 - 125 - 147 - 172 642 - 95 Depreciations IAC* Other Non cash Interest excl. IFRS ΔNWC Adj. EBITA IFRS 16 EBITDA ex. IFRS 16 CapEx Tax Free cash flow *Items affecting comparability 13
Slide 14: Utilization of free cash flow R12
Utilization of free cash flow R12 Strategic acquisition of Validia reflected in net debt 642 - 185 -1 358 45 -1 221 - 365 Free cash flow Dividend Acquisitions Share buyback FX & other Change in net debt 14
Slide 15: Business overview
Business overview Benno Eliasson CFO 15
Slide 16: Nytida: Positive growth
Positive growth • Net sales increased by 10 per cent, due to acquisitions MSEK Q2 2025 Q2 2024 Change, % and newly opened units. Net sales 1 150 1 044 10% • EBITA increased by 2 per cent and amounted to 127 EBITA EBITA, % 127 11,0% 124 11,9% 2% -0,9pts (124) MSEK. Own management, % 81% 81% -pts • Ny
Slide 17: Vardaga: Good and stable profitability
Good and stable profitability • Net sales increased by 8 per cent, driven by the AvAsta MSEK Q2 2025 Q2 2024 Change, % acquisition and higher occupancy. Net sales 1 358 1 262 8% • Sales in own management amounted to 932 (865) MSEK EBITA EBITA, % 115 8,5% 105 8,3% 10% 0,2pts and contract management t
Slide 18: Stendi: Seasonal variations in earnings
Seasonal variations in earnings • Net sales decreased by 2 per cent. In local currency net MSEK Q2 2025 Q2 2024 Change, % sales increased by 4 per cent. Net sales 823 840 -2% • EBITA amounted to 29 (61) MSEK and EBITA margin EBITA EBITA, % 3,5% 29 7,3% 61 -52% -3,8pts declined to 3,5 (7,3) per cent.
Slide 19: New business area in Finland
New business area in Finland • Validia reported as a new business area from Q2. MSEK Q2 2025 Q2 2024 Change, % • Net sales amounted to 375 MSEK. Net sales 375 - - EBITA 39 - - • Validia performed strong with a good margin, despite EBITA, % 10,4% - - Own management, % 100% - - integration efforts and
Slide 20: Altiden: Continued earnings improvement
Continued earnings improvement • Net sales increased by 5 per cent. In local currency net MSEK Q2 2025 Q2 2024 Change, % sales increased by 10 per cent. driven by higher Net sales 327 311 5% occupancy in both elderly and social care. EBITA 1 -13 - EBITA, % 0,3% -4,2% 4,5pts • Sales in own management
Slide 21: Klara: Adjusted cost base
Adjusted cost base • Net sales were in line with the same quarter last year, MSEK Q2 2025 Q2 2024 Change, % as student health services could offset the continued Net sales 104 104 -% weaker demand for staffing services. EBITA 9 5 80% EBITA, % 8,7% 4,8% 3,9pts • EBITA increased to 9 (5) MSEK. EBITA m
Slide 22: Concluding remarks
Concluding remarks Mark Jensen CEO 22
Slide 23: Our financial targets
Our financial targets First-ever quarter with delivery on all financial targets Growth FINANCIAL TARGET: Profitability Leverage FINANCIAL TARGET: FINANCIAL TARGET: 8-10% ANNUAL GROWTH <3.25X NET DEBT / ADJ. 9,5% ADJ. EBITA MARGIN EBITDA (EXCL. IFRS 16) 14 924 9,7% 9,8% 9,6% 8% * 14 195 9,4% 3,3x 3 5
Slide 24: Outlook post Q2 2025
Outlook post Q2 2025 Continued market share growth expected • Solid growth expected driven by both acquisitions and organic growth, supporting delivery on financial targets. • Further organic pipeline expansion will add to future capacity. • Adjusted operations in Nytida support margin stabilisation
Slide 25: Invest in the competency-based and leading Nordic care company
Q&A Invest in the competency-based and leading Nordic care company • Growing need • Strong market position with a Nordic platform • High quality and competency • Substantial growth • Balanced risk • Strong cash flow and stable dividend 25
Slide 26: We make the world a better place, one person at a time
We make the world a better place, one person at a time ambea.com 26