Asker Healthcare Group Ab · OMXSTO:ASKER
Asker Healthcare Group Ab — Q3 2025 Earnings Presentation
15 slides from Asker Healthcare Group Ab's earnings presentation, Nov 6, 2025
Slide 1: Q3 Interim Report January–September 2025
Q3 INTERIM REPORT JANUARY – SEPTEMBER 2025 Strong third quarter with 25% earnings growth, of which 6% organic Johan Falk, CEO Thomas Moss, CFO 1
Slide 2: Q3 Highlights
Q3 Highlights • Strong earnings growth in the quarter driven by regions West and Central. Tough comparable 2024 for North but solid underlying performance ADJ. EBITA GROWTH • Adj. EBITA increased by 25% to SEK 383m, of which 6% organic 25% • Net sales up 15% to SEK 4,129m, of which 5% organic • Adj.
Slide 3: Delivering on our financial targets
+20% +66% Delivering on our Adj. EBITA R/RK (EBITA/NWC) growth per year financial targets LTM outcome TARGET >15% TARGET >50% 9.3% 2.2x Adj. EBITA margin Net Debt/EBITDA* TARGET (medium term) >10% TARGET <2.5x 3 *Adjusted for leases and items affecting comparability
Slide 4: Acquiring quality companies at a high pace
Acquiring quality companies at a high pace Annual sales, Month Acquisition Business Area SEKm* August Oudshoorn West 37 • 12 new acquisitions during 2025 with EBITA August HNC (joining HSL Group) West 60 margins above 10% Q3 July Finmed Group Completed in Oct Central 380 — adding approx. SEK 2.2bn i
Slide 5: Explore an acquisition
Explore an acquisition • First acquisition in France, platform for growth in a new, large market • Annual sales of SEK 380m and 62 FTE across France • Sells medical devices and equipment, including services and related consumables, to pharmacies, hospitals and other Finmed Group healthcare instituti
Slide 6: Financial performance – Group
Financial performance – Group Strong Q3 with 25% EBITA growth, of which 6% organic Amounts in Q3 Q3 Jan - Sep Jan - Sep LTM January - September 2025 SEKm 2025 2024 2025 2024 24/25 Adj. EBITA growth Net sales 4,129 3,597 12,111 10,722 16,414 25% 14% 20% Adj. EBITA 383 306 1,125 956 1,531 18% -2% 15%
Slide 7: Business Area North
Business Area North Solid towards regions and municipalities in Q3; Defence orders still on hold Amounts in Q3 2025 Q3 2024 Jan - Sep Jan - Sep LTM January - September 2025 SEKm 2025 2024 24/25 • Adj. EBITA growth -10% Net sales 1,180 1,174 3,707 3,754 5,354 ⎯ Organic growth of -11% ⎯ Acquired growt
Slide 8: Business Area West
Business Area West Strong organic growth and improved margins in West in Q3 Amounts in Q3 2025 Q3 2024 Jan - Sep Jan - Sep LTM January - September 2025 SEKm 2025 2024 24/25 • Adj. EBITA growth 40% Net sales 2,215 1,783 6,243 5,236 8,153 ⎯ Organic growth of 24% ⎯ Acquired growth of 19% Adj. EBITA 212
Slide 9: Business Area Central
Business Area Central Strong Q3 performance in Central driven by acquisitions and organic expansion Amounts in Q3 2025 Q3 2024 Jan - Sep Jan - Sep LTM January - September 2025 SEKm 2025 2024 24/25 • Adj. EBITA growth 56% Net sales 735 640 2,161 1,732 2,908 ⎯ Organic growth of 16% ⎯ Acquired growth o
Slide 10: R/RK remains strong, reflecting continued efficient working capital utilisation
R/RK remains strong, reflecting continued efficient working capital utilisation R/RK • R/RK amounted to 66.5% (66.3), in line with YoY comparison, exceeding 100% target • Continued high capital efficiency 80% across all business area • Opportunities to improve the performance of acquired entities 60
Slide 11: Strong operating cash flow in Q3
Strong operating cash flow in Q3 Amounts in SEKm Q3 2025 Q3 2024 Jan-Sep Jan-Sep LTM Full-year • Cash flow from operating activities SEK 439m 2025 2024 24/25 2024 (223) Cash flow from 439 223 760 768 1,220 1,227 • Strong operational performance and a reduced operating activities working capital tie-
Slide 12: Leverage in line with historically normal levels after brief dip due to new equity
Leverage in line with historically normal levels after brief dip due to new equity in IPO Net debt/EBITDA* development 30 September 30 September Amounts in SEKm 2025 2024 3x Net debt 3,648 3,113 EBITDA* 1,647 1,387 Net debt/EBITDA* 2.2x 2.2x 2x • Increase in net debt (and EBITDA) due to catch- up in
Slide 13: Q3 in summary
Q3 in summary • Strong performance in the quarter, with an adj. EBITA growth of 25%, of which 6% organic • High organic growth in West and Central driven by operational improvements as well as scale and mix effects from past years’ acquisitions • Positive outlook on defence and preparedness in North
Slide 14: Q&A
Q&A
Slide 15: Financial calendar
Financial calendar • Year-end report 2025 10 Feb 2026 • Q1 report 2026 6 May 2026 • Annual General Meeting 7 May 2026 • Q2 report 2026 21 July 2026 • Q3 report 2026 4 Nov 2026 We are health in progress • Improve patient outcome • Reduce total cost of care Additional information • Ensure a fair and s
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