24 slides from Lagercrantz Group Ab Class B's earnings presentation, May 17, 2024
Slide 1: Year-end Report 2024/25
Year-end Report 2024/25 April 2024 – March 2025 (12 months) 20 May, 2025 Jörgen Wigh, CEO Peter Thysell, CFO
Slide 2: Tech Group with leading positions in expansive niches
Introduction to Lagercrantz Group Tech Group with leading positions in expansive niches Lagercrantz Group Electrify Control TecSec Niche Products International 18 companies 15 companies 13 companies 17 companies 16 companies 11 countries 8 countries 10 countries 8 countries 9 countries ◼ B2B Tech Gr
Slide 3: Revenues and profits
Year-end report 2024/25 Revenues and profits Rolling 12 months, quarterly data Net Sales Profits after financial items 14 000 1 400 13 000 Towards 1 300 2 Billion! Profits after financial items, MSEK 12 000 1 200 11 000 1 100 Towards Net sales, MSEK 10 000 1 Billion 1 000 9 000 900 8 000 Organic gro
Slide 4: Q4 - Business conditions
Year-end report 2024/25 Q4 - Business conditions ◼ The market situation was stable overall and somewhat better during the fourth quarter compared to the same period the previous year. ◼ Demand continued to vary across companies and segments, with demand being strongest in the Electrify and Niche Pro
Slide 5: Q4 2024/25 January – March 2025
Year-end report 2024/25 Q4 2024/25 January – March 2025 ◼ Net revenues increased by 16% to MSEK 2,503 (2,159) ◼ Acquisitions 11%, organic growth 5%, currency 0% ◼ EBITA increased 14% to MSEK 446 (390) ◼ EBITA-margin at 17.8% (18.1) ◼ Cashflow from operations of MSEK 342 (378) ◼ Profits after financi
Slide 6: Full year 2024/25
Year-end report 2024/25 Full year 2024/25 January – March 2025 ◼ Net revenues increased by 16% to MSEK 9,389 (8,129) ◼ Acquisitions 14%, organic growth 2%, currency 0% ◼ EBITA increased 16% to MSEK 1,646 (1,431) ◼ EBITA-margin at 17.5% (17.6) ◼ Cashflow from operations of MSEK 1,322 (1,327) ◼ Profit
Slide 7: Outcome by division
NET SALES 2024/25 2023/24 2022/23 MSEK Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Electrify 588 603 533 561 449 450 421 481 463 Outcome by division Control 330 322 281 264 284 255 219 249 276 TecSec 550 572 511 538 517 540 480 528 516 Niche Products 642 559 472 495 511 435 390 420 451 International 393 406 375 395
Slide 8: Comments by division
Year-end report 2024/25 Comments by division Electrify Revenues +31% to 588 MSEK (449), of which acquisitions +16% and organically +15%. EBITA +52% to MSEK 100 (66), i.e., an EBITA-margin of 17.0% (14.7). The market situation remained favorable, both in electrification and infrastructure. Electrify
Slide 9: Comments by division
Year-end report 2024/25 Comments by division TecSec Revenues +6% to 550 MSEK (518), of which acquisitions +6% and organically 0%. EBITA amounted to MSEK 83 (85) i.e., an EBITA-margin of 15.1% (16.4). Several of the security companies within the TecSec division are noting a favourable market situatio
Slide 10: Comments by division
Year-end report 2024/25 Comments by division International Revenues -1% to MSEK 393 (398), of which acquisitions 0% and organically -1%. EBITA -3% to MSEK 69 (70) i.e., an EBITA-margin of 17.6% (17.6). The International Division delivered a good quarter with stable profitability. Continued strong ea
Slide 11: Return on Working Capital (P/WC) per division
Year-end report 2024/25 Return on Working Capital (P/WC) per division R eturn o n Wo rking C apital (P / WC ) % 2024/ 25 2023/ 24 2022/ 23 Electrify 66 62 69 Control 90 75 76 TecSec 98 107 129 Niche Products 83 83 81 International 76 76 66 GR OUP T OT A L 79 77 78 www.lagercrantz.com 11
Slide 12: Vision and financial goals
Lagercrantz towards Two billion Vision and financial goals Sustainable supplier of value- adding technologies with market-leading positions in several expansive niches. ❖ Annual profit (EBT) growth >15% At least 1/3 organically and the rest through 8-12 acquisitions per year. ❖ Return on equity (ROE
Slide 13: Building the 5 divisions
Lagercrantz towards Two billion Building the 5 divisions Electrify Control TecSec Niche Products International 18 companies 15 companies 13 companies 17 companies 16 companies 11 countries 8 countries 10 countries 8 countries 9 countries Niched companies Measure and Security and safety B2B product w
Slide 14: Aim of 85% proprietary products
Lagercrantz towards Two billion Aim of 85% proprietary products Percentage share of Group sales, moving 12-months based on quarterly data 3 4 4 5 4 4 4 3 3 3 3 2 3 3 2 2 2 2 2 5 5 5 4 4 3 3 3 3 9 9 6 5 7 6 6 6 8 5 5 5 8 8 9 10 8 10 12 15 14 12 12 13 12 13 13 13 15 14 13 13 Proprietary products 17 20
Slide 15: Continued focus on value-add
Lagercrantz towards Two billion Continued focus on value-add Gross margin, % 39,3 39,0 38,5 38,2 37,8 36,7 36,3 36,7 37,4 ◼ Focus on adding 34,8 value and gross 31,6 32,1 margins 30,5 29,0 ▪ Setting goals 28,0 26,3 26,5 ▪ Training 25,3 24,5 ▪ Customisation 21,2 ▪ Service ▪ Support ◼ Phasing-out busi
Slide 16: Acquisitions
Lagercrantz towards Two billion Acquisitions >80 acquisitions since 2006, including: ◼ Actively acquiring leading B2B Tech 2020 as Group (Niche Products) companies in expansive niches. 2022. Westmatic Group (Niche Products) ◼ 8-12 companies per year ARAS Security (TecSec) PcP Corporation (TecSec) ◼
Slide 17: CP Cases
CP Cases ◼ CP Cases designs and manufactures high- performance protective cases and racks used for mission critical equipment for commercial and military applications. The cases are typically equipped with various climate and hazard control functions. ◼ Annual revenues of approx. GBP 12 million with
Slide 18: Principal Doorsets
Principal Doorsets ◼ Principal Doorsets Ltd is a growing and innovative manufacturer of bespoke fire doors in UK. ◼ Sales are about GBP 9 millions with good profitability. Headquarter and manufacturing are located in Barnstaple, Southwest Devon (UK). ◼ Fire doors are a crucial part of the passive fi
Slide 19: Mastsystem Int’l
Mastsystem Int’l ◼ Mastsystem Int’l Oy is a leading provider of high-performance telescopic masts. ◼ The masts are an integral part of leading air defence systems. ◼ The annual revenue is about MEUR 15 with EBITA of around MEUR 6. Acquired at EV/EBITA of about 7x. ◼ The company is situated in Joensu
Slide 20: Van Leeuwen Test Group
Van Leeuwen Test Group ◼ VLT designs and manufactures, calibrates and service robust equipment for testing heavy vehicles, including brake testers and integrated software. ◼ Annual revenues of approx. 20 MEUR with good profitability. ◼ Located in Etten-Leur in the Netherlands, with a modern manufact
Slide 21: Financial overview
Year-end report 2024/25 Financial overview MSEK 13/14 14/15 15/16 16/17 17/18 18/19 19/20 20/21 21/22 22/23 23/24 24/25 Net Sales 2,546 2,846 3,057 3,096 3,410 3,932 4,180 4,091 5,482 7,246 8,129 9 389 EBITA 256 295 355 409 436 519 565 616 895 1,205 1,431 1,446 EBITA,% 10.1% 10.4% 11.6% 13.2% 12.8%
Slide 22: www.lagercrantz.com
www.lagercrantz.com N ~ i= © - uv pas co) io) © — U)
Slide 23: Board of Directors and Group Management
Appendix Board of Directors Group Mgmt Jörgen Wigh Jonas Ahlberg President & CEO Executive VP Head of M&A Fredrik Börjesson Anna Almlöf Chairman of the Board Peter Thysell CFO Malin Nordesjö Anna Marsell Division Mgmt Peter Baaske Andreas Heder Head of Electrify Head of Control Anders Claeson Jörgen
Slide 24: The share & owners
The share & owners • B share listed on Nasdaq Owners 2025-03-31 Shares Votes Stockholm, Large Cap Anders Börjesson & Tisenhult-gruppen 5.6% 29.0% • Ticker: LAGR B Fidelity Investments (FMR) 10.0% 7.2% SEB Investment Funds 7.6% 5.4% Swedbank Robur Funds 7.3% 5.2% Lannebo Asset Management 6.1% 4.4% Ca