Slide 1: Q2 2025 Interim report Apr–Jun 2025
Q2 2025 Interim report Apr–Jun 2025 July 18, 2025
Slide 2: Presenters
Presenters CEO Krister Blomgren CFO Marcus Asplund Tel +46 70 529 92 65 Tel +46 72 601 37 17 E-mail: krister.blomgren@engcon.com E-mail: marcus.asplund@engcon.com Q2 2025 2
Slide 3: Q2 business highlights
Q2 business highlights • Highest Q2 net sales and order intake since 2022. • Net sales increase driven by the Nordic digging season - Coming back to traditional seasonal patterns. • Volume growth in Europe confirms that we are changing the world of digging. • Stronger Swedish krona and less favorabl
Slide 4: Change the world of digging
CHANGE THE WORLD OF DIGGING Early days (low penetration) Acceleration (accelerating penetration) Mature (high penetration) engcon with engcon engcon basic local quick sandwich with coupler EC-Oil Increasing penetration and volume Q2 2025 4
Slide 5: Q2 figures in brief
Q2 figures in brief 23% 10% 41% 18% 42% Organic net Organic order Gross EBIT Return on capital sales intake margin margin employed Q2 2025 5
Slide 6: A strong second quarter
A strong second quarter Order intake and net sales development per quarter, MSEK Key comments Order intake Net sales • Order intake increased 4%, organic 10%, negative currency effect of 24 MSEK. 524 530 508 506 • Net sales increased 18%, 450 446 451 433 organic 23%, negative currency 414 410 412 39
Slide 7: Nordics
Nordics Q2 2025, Order intake and net sales, MSEK Key comments Per quarter • Order intake increased organic 250 231 236 18%. 188 192 190 191 200 167 141 150 126 132 • Net sales increased organic 100 30%. 50 0 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 • Demand driven by increased Strömsund Vasa Order intake Net
Slide 8: Europe
Europe Q2 2025, Order intake and net sales, MSEK Key comments Per quarter • Order intake increased organic 210 204 202 11%. 197 200 185 185 190 180 173 177 176 182 • Net sales increased organic 172 170 15%. 160 150 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 • Continued strong underlying Tewkesbury Order intake N
Slide 9: Americas
Americas Q2 2025, Order intake and net sales, MSEK Key comments Per quarter • Order intake decreased organic 80 67 26%. 62 58 60 59 53 56 60 40 41 37 40 • Net sales increased organic 20 12%. 0 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 • Higher deliveries linked to Order intake Net sales orders placed in previou
Slide 10: Asia-Oceania
Asia-Oceania Q2 2025, Order intake and net sales, MSEK Key comments Per quarter • Order intake increased organic 50 43 24%. 38 40 35 35 37 34 30 31 27 24 27 • Net sales increased organic Chungcheongnam-do Tokyo 20 53%. 10 0 • Positive development in Japan. Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Strong govern
Slide 11: Financial development
Se över grävmaskinsmärken! Financial development Q2 2025 11
Slide 12: EBIT Development
EBIT Development EBIT and EBIT margin per quarter Key comments EBIT, MSEK EBIT margin, % • EBIT increased 15% to 94 (82) 15% MSEK, mainly from higher net sales. 104 • EBIT margin decreased to 91 94 17.8% from 18.2%. 82 84 60 63 55 19 22.0 20.5 18.2 18.8 17.8 14.1 15.2 16.0 6.2 Q2-23 Q3-23 Q4-23 Q1-2
Slide 13: Overview of costs and EBIT
Overview of costs and EBIT 2025 2024 2025 2024 MSEK Q2 Q2 R12 FY Key comments Net sales 530 450 1,780 1,649 COGS -314 -248 -1,002 -923 • Gross margin of 40.7% Gross margin 40.7% 44.9% 43.7% 44.0% (44.9) and 43.7% R12. Selling expenses -72 -73 -263 -262 • Negative currency effects and % of net sales
Slide 14: Cash flow
Cash flow Cash flow and net working capital overview, MSEK Operating cash flow per quarter, MSEK 277 2025 2024 2024 FY MSEK Q2 Q2 Cash flow before changes in working capital 87 63 277 144 108 96 107 Inventories 446 347 339 87 Accounts receivables 323 282 227 -44 32 13 Other receivables 30 51 20 2023
Slide 15: ROCE level
ROCE level Return on capital employed overview Average capital employed and ROCE MSEK 2021 2022 2023 2024 R12 Average capital employed, MSEK ROCE, % EBT 341 415 365 295 312 840 826 100 Interest expense 2 8 16 18 32 817 820 Capital employed, 80 800 beginning 699 735 765 781 816 of period 780 773 60 5
Slide 16: Financial targets
Financial targets Growth Profitability Capital efficiency Capital structure Exceed the growth in existing Have an EBIT margin in Continue to achieve an Maintain a strong capital market through organic excess of 20 per cent, industry-leading capital structure supporting further growth. measured over
Slide 17: Summary & Update
Summary & Update • Closing the second quarter with strong net sales and solid order intake. Ska bytas mot Bauma-bild! • Strong recovery in the Nordics. • Accelerating volume in Europe. • Lost quarter in the Americas. • Solid commercial traction in Asia-Oceania. • Stronger Swedish krona combined with
Slide 18: Looking ahead
Looking ahead "Looking forward, we anticipate continued growth compared with the preceding year as a result of the recovery in the Nordic region and increased market penetration in Europe and AsiaOceania. In the second quarter, we were negatively impacted by the stronger Swedish krona and we cannot
Slide 19: Q&A
Q&A For more information visit www.engcongroup.com