Vestum Ab · OMXSTO:VESTUM
Vestum Ab — Q2 2025 Earnings Presentation
10 slides from Vestum Ab's earnings presentation, Jul 14, 2025
Slide 1: Interim report presentation January-June 2025
CUZ VES Interim report presentatio’ January-June 2025 Vestum AB (pub)
Slide 2: Highlights Q2 2025
Highlights (2 2025 . . . . . Organic growth achieved for the second consecutive quarter Profitability in line with last year Cash flow growth driven by improved capital structure One acquisition completed Leverage increased to 2.65x driven by investments 1,012 102 10.1% 4% 79 2.65x Net sales Adj. EB
Slide 3: Flow Technology segment
Flow Technology segment CS AY Market leading product technology specialists in improving water infrastructure Growth mainly driven by acquisitions Strong development in the cautious market in the short-term Solid M&A pipeline in the UK 288 289 Nordics 1 256 | 258 ; I I ) Customer investment I ramp-u
Slide 4: Niche Products segment
Niche Products segment 1G Leading product companies in selected technology niches * Sales in line with last year 219 209 198 Improved profitability 191 wo | 2 181 ae 187 mainly driven by our 165 P . | = businesses with | | infrastructure end- markets 32 34 30 Ww Focus remains on 23 16 22 21 7 23 en
Slide 5: Solutions segment
Solutions segment Specialised solutions for maintaining, developing and streamlining properties and transport networks 754 684 654 589 | | 47 L- |. I: 638 568 | i Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024) Q2 2024 486 | 442 a fs | Bi | Q3 2024 Q4 2024 Q1 2025 |Q2 2025 SEK 2,181m LTM net sales SEK 148m
Slide 6: Net sales and adjusted EBITA per quarter
Net sales and adjusted EBITA per quarter Adjusted EBITA Adjusted EBITA margin is f @ B B LZ 4 979 1182 ane on 138 118% aad m| 2 (103% 0,1% 102 QW Q2 QB Q4] QI | Q2 Q2} QI Q2 Q3 Q4] Qi} Q2 Q2} | a @2 @ Q4} a} Q2 Q2 2025 2024 2025 2024 2025 — VESTUM 2024
Slide 7: Net sales growth
Net sales growth SEKm 1083 42 P| -101 -12 Q2 2024 Acquisitions & Fx Organic growth Q2 2025 divestments . Net sales in Q2 decreased by 7% vs same quarter last year driven by the divestment of two businesses in the Solutions segment, which to some extent was offset by the acquisition of Nortech Organi
Slide 8: LTM free cash flow bridge
LTM free cash flow bridge SEKm 310 -2 -62 -126 CF Op Activities Change in NWC Capex Leasing amort. FCF before NWC * LTM cash flow from operating activities, before NWG, increased by SEK >30m compared to previous quarter, driven primarily by lower financing costs - a consequence of the improved capit
Slide 9: Net debt and leverage
Net debt and leverage Financial net debt / EBITDA R12 months (Leverage) 3,5x 3,0x 2,5x 2,0x 1,5x 1,0x 0,5x 0,0x 75 29x 2,8x 2,8x + 4 + 3 25 26 og 21 20 2,0 21 L 2 1,6 14 14 4 a Q2 @3 Q4 a Q2 @3 Q4 a Q2 2023 2024 2025 Financial net debt Financial net debt / EBITDA R12 months (Leverage) + Financial ta
Slide 10: Summary
Summary * Organic growth and solid cash flow generation * Strong market outlook in Flow Technology in coming years, acquisitions to further accelerate growth * Installation businesses in the Solutions segment with construction end-markets continue to phase challenging market conditions — profitabili