Alleima Ab · OMXSTO:ALLEI
Alleima Ab — Q4 2025 Earnings Presentation
26 slides from Alleima Ab's earnings presentation, 2026
Slide 1: Company presentation
Alleima 1 Company presentation
Slide 2: A world-leader advanced materials company
Alleima Alleima A world-leader advanced materials company ― High value - added products in ― advanced stainless steels and special alloys, ― ultrafine medical wires and components ― products for industrial heating ― Strong market positions across a wide range of niche ― Fully integrated value chain,
Slide 3: Premium offering across three divisions
Alleima Premium offering across three divisions Tube Kanthal Strip #1 Umbilical tubing #1 Industrial heating solutions #1 Compressor valve steel #1 Aerospace titanium tube #2 Medical wire #1 Bone saw steel #1 Steam generator tubing Share Share Share Share Share Share Revenue Adjusted EBIT Revenue Ad
Slide 4: Fully integrated value chain with world-class capabilities
Alleima 4 Fully integrated value chain with world - class capabilities Customer Need Identification Research & Primary Melting Hot Working Cold Working Finishing Sales & Development Marketing Ensure Enabling close Secure product Prerequisite for new independence and control customer collaboration qu
Slide 5: Global footprint and go-to-market strategy – local for local
Alleima 5 Global footprint and go - to- market strategy – local for local Sales in —Global presence and 80 markets 5 R&D centers proximity to customers —Creating flexibility and back - up 40+ 25+ —Enabling specialization sales offices production sites across the globe
Slide 6: Serving customers in the most demanding industries
Alleima Prioritized segment = Serving customers in the most for capital allocation demanding industries Customer segments % of total revenues FY 2025 24% 17% 16% 10% 8% Oil and Gas Industrial Chemical and Industrial Heating Consumer Petrochemical 7% 6% 6% 5% 1% Medical Transportation Mining and Nucl
Slide 7: Premium offering across three divisions
Alleima 7 Premium offering across three divisions Tube FY 2025 Kanthal FY 2025 Strip FY 2025 Seamless tubes and other long products 13.1bn Resistance wire for heating elements 4.0bn Wide range of strip steel and a variety 1.6bn in advanced stainless steels used in Revenues (SEK) (consumer and indust
Slide 8: Who we are – a niche player in niche markets
Alleima 8 Who we are – a niche player in niche markets Total steel Stainless steel Advanced stainless market market steel market Niche player with large share of high 1,900 50 2- 4 refined products for several customer segments Million tonnes ― Advanced stainless steel Special alloys market 250 - 30
Slide 9: A high-performer in our niche
Alleima A high - performer in our niche Improved margin resilience SEK M % Industrial 25 manufacturing 12 slowdown Pandemic 10 20 downturn Margin target of Oil and gas 9% 8 15 downturn 6 10 4 5 2 0 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Revenues Adj. EBIT margin, % Note: Historical
Slide 10: Alleima's strategy creates value by increasing returns on capital and revenue growth
Alleima Alleima’s strategy creates value by increasing returns on capital and revenue growth ROCE % #3. Defend market #1. 1st Priority position and growth area return #2. 2 nd Priority growth area; with margin focus #4. Improve margins and operational excellence Revenue growth
Slide 11: Targeted growth and improved product mix across the portfolio
Alleima Targeted growth and improved product mix across the portfolio Illustrative Revenues Targeted segments Adj. EBIT, % Medical, Nuclear, Industrial 45 - 50% Heating, Chemical and 40% Petrochemical, Hydrogen 41% 40% and Renewable Energy 37% 35% 37% Other 40% Oil and Gas, Transportation, 39% 35- 4
Slide 12: Unlocking growth and margin potential
Alleima Un- locking growth and margin potential Leverage of Value growth projected to 3- 5x Potential for Illustrative outpace improved capacity margins increase 2024 2029 Today Profitable Efficiency Price and Cost Future growth and mix within inflation (Ambition) Volume Revenues (segment leverage s
Slide 13: Winning platform set to unlock shareholder value
Alleima 14 Winning platform set to unlock shareholder value Premium offering with solid market positions and diverse customer 1 segment exposure Fully integrated value chain with prominent metallurgy expertise and global 2 footprint Multiple and tangible levers to deliver profitable growth, capitali
Slide 14: 2025 Q4 Roadshow
Alleima 15 2025 Q4 Roadshow
Slide 15: Full year 2025 highlights
Alleima 16 Full year 2025 highlights Solid financial foundation, in an unstable market Revenues Organic revenue (SEK M) growth ― Mixed demand ― Resilient revenues 18,630 0% ― Earnings dampened by FX Our strategy stands firm ― Targeted measures for efficiency and competitiveness Adj. EBIT Adj. EBIT m
Slide 16: Performance vs. financial targets
Alleima 17 Performance vs. financial targets % % Organic 14 13 Earnings 12 growth 12 Adjusted EBIT margin 10 9,1 10,4 9,9 Average (excluding items 8,3 Deliver profitable 10 8 affecting comparability 8 9.5 % organic revenue 8 and metal price growth in line with effects) to average 6 or above growth i
Slide 17: Q4 highlights
Alleima 18 Q4 highlights Weaker top line Revenues Organic revenue (SEK M) growth ― Continued market uncertainty ― Weakness in the short - cycled business ― Positive development in Industrial Heating 4,494 - 5% Impact on earnings ― Revenue development from weaker markets Adj. EBIT Adj. EBIT margin ―
Slide 18: Targeted measures for increased efficiency and long-term competitiveness
Alleima 19 Targeted measures for increased efficiency and long - term competitiveness Of which SEK 342 million were Permanent savings recognized in Q4 2025 ⎯ Optimizing footprint ~75 % One - off cost of SEK 400 million Annual savings ⎯ Efficiency improvement activities of approx. of which SEK 200 mi
Slide 19: Market development
Alleima 20 Market development ― High degree of uncertainty ― Weak sentiment in Europe and North America, Asia more resilient ― Momentum in key segments Perceived year on year underlying market demand trend
Slide 20: Order intake and revenues
Alleima 21 Order intake and revenues Order intake R12 Order intake R12 Revenues and book - to- bill ― Organic order intake growth (SEK M) SEK M SEK M % of - 4% for rolling 12 months 17,741 25 000 6 000 120 ― Organic revenue growth of - 5% 5 000 100 20 000 4 000 80 ― R12 book - to- bill 95% Revenues
Slide 21: Earnings
Alleima 22 Earnings Adjusted EBIT Adjusted EBIT at SEK 364 million SEK M % 700 12 ― Margin of 8.1% ― Significant FX headwind 600 ― Absorption effects due to weak market and delayed 10 ramp - up 500 8 400 Free operating cash flow of SEK 422 million 6 300 ― Changes in working capital and lower capex 4
Slide 22: Tube
Alleima 23 SEK M Q4 2025 Q4 2024 FY 2025 FY 2024 Tube Order intake, R12 12,138 13,677 12,138 13,677 Organic growth, R12 ,% -7 - 10 -7 - 10 Revenues 3,089 3,713 13,063 14,027 Organic growth, % - 11 7 -2 2 High market uncertainty Adj. EBIT 261 457 1,159 1,422 Margin, % 8.4 12.3 8.9 10.1 ― R12 organic
Slide 23: Kanthal
Alleima 24 SEK M Q4 2025 Q4 2024 FY 2025 FY 2024 Kanthal Order intake, R12 4,177 4,077 4,177 4,077 Organic growth, R12 ,% 9 0 9 0 Revenues 981 999 3,996 4,200 Organic growth, % 10 -6 1 -3 Positive topline development Adj. EBIT 160 181 656 750 Margin, % 16.3 18.1 16.4 17.9 ― R12 organic order intake
Slide 24: Strip
Alleima 25 SEK M Q4 2025 Q4 2024 FY 2025 FY 2024 Strip Order intake, R12 1,426 1,665 1,426 1,665 Organic growth, R12 ,% - 11 32 - 11 32 Revenues 424 382 1,571 1,465 Organic growth, % 20 -3 13 -4 Solid underlying development Adj. EBIT 40 23 61 66 Margin, % 9.5 6.1 3.9 4.5 ― R12 organic order intake g
Slide 25: Ongoing growth initiatives to strengthen the company long-term
Alleima Ongoing growth initiatives to strengthen the company long-term 2023 2024 2025 2026 2027 Increase capacity for process gas heaters and modules. Walldorf, Germany. Increase rolling and finishing capabilities. Zhenjiang, China. Increase medical wire capacity Broaden the US product portfolio Inc
Slide 26: Thank you
Alleima 27 Thank you alleima.com