Addlife Ab Class B · OMXSTO:ALIF_B
Addlife Ab Class B — Q4 2025 Earnings Presentation
18 slides from Addlife Ab Class B's earnings presentation, Feb 4, 2026
Slide 1: Year-end Report 2025
Year-end Report 2025 FEBRUARY 4, 2026
Slide 2: Continued positive margin development, strong profit and cash flow
Continued positive margin development, strong profit and cash flow • Strong EBITA margin in both business areas • Labtech 14.1% (14.1) • Medtech 12.0%* (11.6) • Healthy customer demand, currency adjusted sales increased by 2% • Profitability improvement initiatives are developing well, further poten
Slide 3: Stable growth after strong Q4 last year, significant currency effects
Stable growth after strong Q4 last year, significant currency effects Revenue growth components Adjusted EBITA* growth components 20 6% 40 2% 5% 15 20 1% 4% 20 1% 19 1% 10 17 0 0% 5 2% 0 -20 0 -1% 0% 0% -40 -5 -2% -2% -60 -124 -10 -3% -24 -80 -15 -4% -100 -4% -20 -6% -5% -25 -120 -7% -5% -30 -8% -14
Slide 4: Strong EBITA growth in 2025
Strong EBITA growth in 2025 Adjusted EBITA* growth components 140 12% Organic and acquired EBITA growth: +12% 120 10% 10% 100 8% 80 6% 60 120 4% 40 2% 2% 20 26 0 0% -20 -2% -46 -40 -4% -4% -60 -6% Currency effect Acquisition Organic growth EBITA MSEK EBITA % *Excluding income from divested operation
Slide 5: Profit & Loss Q4 – higher EBITA margin and profit
Profit & Loss Q4 – higher EBITA margin and profit Profit before tax (Q4 2025 vs Q4 2024) • Sales growth, -3% 370 158 343 • Organic growth +1% 320 • Acquired growth +1% 270 220 • Stronger gross margin • Higher opex driven by growth 29 170 13 150 28 33 investments and projects 120 - 31 - 36 70 • Adjus
Slide 6: EBITA margin – continued positive development
EBITA margin – continued positive development EBITA-margin %* 13,0% • Labtech margin Q4: 14.1% (14.1) 12,5% 12,4% 12,3% • Medtech margin Q4*: 12.0% (11.6) 12,0% FY 12.1% 11,5% FY 11.3% • Labtech margin FY: 12.5% (11.7) 11,0% FY 10.5% • Medtech margin FY*: 12.4% (11.6) 10,5% 10,2% 10,0% 9,5% • Improv
Slide 7: Improving operating cash flow and strong cash conversion
Improving operating cash flow and strong cash conversion Operating cash flow per quarter Operating cash flow and cash conversion 1000 1600 140% 888 131% 900 1400 120% 800 118% 111% 700 666 1200 100% 600 94% 1000 89% 500 448 79% 80% 80% 76% 800 70% 72% 400 60% 300 600 200 40% 400 100 0 200 20% Q1 Q2
Slide 8: Cash flow Q4 – strong working capital contribution
Cash flow Q4 – strong working capital contribution Cash flow – Q4 2025 1 400 • Operating cash flow SEK 888m (666) 219 1 200 -12 0 • Working capital contribution SEK -31 1 000 170 50 -70 426m (332) 565 -169 814 800 -104 -89 • Working capital benefited from lower 600 inventory, strong collection of WC
Slide 9: Reduced net debt in Q4 2025
Reduced net debt in Q4 2025 Change in net debt 5 000 • Net debt reduced by SEK 773m in 4 821 4 800 16 Q4 2025 - 92 4 600 • Majority of loan in EUR – slightly positive Fx impact in the quarter 4 400 4 200 - 527 4 048 4 000 - 169 3 800 Fx Cash Net debt Q4-25 Net debt Q3-25 Earn-out, leasing, etc Loan
Slide 10: Net debt and leverage – significally strengthened position
Net debt and leverage – significally strengthened position Net debt KPI's • Net debt decreased by SEK 872m in 6 000 4 2025 3,8 3,6 3,6 5 500 3,5 3,5 • Net debt / EBITDA 2.2, below our 3,2 3,1 2,9 3 ambition of <3.0 2,8 5 000 2,5 • Net debt / adjusted EBITDA 2.5 2,2 4 500 2 • Net debt/equity ratio 0.
Slide 11: Labtech Q4 2025
Labtech Q4 2025 • Compared to a strong Q4 2024, currency adjusted revenues declined by 3% • EBITA margin was maintained at 14.1% (14.1) • Less instrument sales compared to last year, when a large number of instruments were delivered linked to tenders • Some hesitation still in academic research inve
Slide 12: Medtech Q4 2025
Medtech Q4 2025 • Growth excluding currency effect 4%, acquired growth 1% • EBITA margin improved to 12.0%* (11.6) • Capital sales in United Kingdom weak during the year, but improved in Q4 • Agreement with supplier to hand over endoscopy business, consideration SEK 158m • Elective surgery is not gr
Slide 13: Proven ability and potential for continued margin improvement
Proven ability and potential for continued margin improvement What: How: • Continued margin improvement initiatives in eye • Strong, empowered and entrepreneurial surgery business company leadership teams • Strengthening margins in Homecare • Coaching and support by experienced Business Unit leaders
Slide 14: Market leading European coverage creates opportunities
Market leading European coverage creates opportunities Our long-term approach to build market- leading European coverage provides key 31 % benefits: NORDICS • Larger accessible markets 2% REST OF THE WORLD • More supplier opportunities • Broader range of acqusistion targets 39 % WESTERN EUROPE 9% •
Slide 15: Acquisition Pharmacold
Acquisition Pharmacold DECEMBER, 2025 • Specialist in highly customized refrigeration technology and service for the pharmaceutical and healthcare sectors. • Holm & Halby’s customer base and regulatory know- how create strong growth potential for Pharmacold • The acquisition supports AddLife’s strat
Slide 16: Acquisition Opitek
Acquisition Opitek DECEMBER, 2025 • Danish manufacturer specialising in patient positioning products that address both staff ergonomics and patient safety • Renowned for its specialised solutions for safe and efficient patient positioning before and during surgery • Will become part of Mediplast • A
Slide 17: Summary and outlook
Summary and outlook • Margin improvement continues, both in Q4 and for the full year • Further improvement potential remains • Currency effects impacted revenues, but organic and acquired growth were positive compared Spectrum´s Surgicube in action at with the strong Q4 in 2024 Advanced Robotic Surg
Slide 18: Q&A
Q&A Q&A APRIL 25, 2025