Slide 1: Q3-report 2023
Munté Q3-report 2023 Klas Forsstrém, President and CEO Katharina Fischer, GVP and CFO Ann-Sofi Jonsson & Line Dovarn, Investor Relations
Slide 2: Strong net sales growth & profitability improvement
Strong net sales growth & profitability improvement mmm Order intake mmm Announced orders’ —e—= Order backlog MSEK 15.000 6000 10,025 10000 4000 2,494 2000 [ [ 5.000 0 0 QB Q4 Ql G2 QB 4 Ql G2 G3 2021 2022 2023 Q3 Order intake, -61%: * no larger orders in the quarter compared to last year * underlyi
Slide 3: Good development in FoodTech
3 Good development in FoodTech Regional share Order intake Net sales ye Americas - order intake + AirTech - active market with a shift of order pattern, orders placed closer to delivery time. Components good growth * DCT - active market, changed ordering pattern among customers compared to last year
Slide 4: Solid order backlog - large orders supportive into 2025
Solid order backlog - large orders supportive into 2025 2022 2023 2024 2025 =) | MUSD 115 =] | US colocator x e — =! | SyCool Split solutions = MUSD 65 | US car manufacturer x c oO = Climate control systems = | MUSD 63 =] | US colocator x Co e — =! Standard chilled water (CRAHs) =) | MUSD 176 =] | U
Slide 5: Stable long-term growth trends
Stable long-term growth trends > Order Intake decreased -45% org.; * excl. large order of MUSD 65 received in G3 2022, decrease -17% org. P5% Oh ~15% mM s0-7% BW neg ler intake Market MSEK * Battery - customers ordering closer to delivery in all cus tomensegment oz2023 Hook regions, cont. consolidat
Slide 6: Positive sales growth in all segments
Positive sales growth in all segments > Net Sales growth in all segments; * Battery - growth all regions, mainly Americas & EMEA Food & Pharma - showed stable growth Change (%) Q3 “~ | | ee | tur Order intake 1,463 2,453 -45% 2% CT- all regions stable development Components - good growth in Americas
Slide 7: Stable market activity in several segments
Stable market activity in several segments MSEK 3000 2500 2000 1500 1000 500 ie) Order intake per segment ai20z2 a2 2022 @3.2022 a4 2022 ai 2023 2 2023 @3 2023 mmm Service mmm Components Food Processing sss Commercial mam Other Industrial mmCT mmm Battery Announced orders* ===Net Sales ‘Large orders
Slide 8: Acquisition of ZECO - strengthens our market position in India
Acquisition of ZECO - strengthens our market position in India Indian manufacturer of air treatment solutions - adds complementary products to our core offer =, Z2EC Pre Fobricoled Ducts Combined offering positions us for growth Provides a strong platform for growth - 3 manufacturing facilities acro
Slide 9: Data Center Technologies
Data Center Technologies Positive development in Europe > Order Intake decreased -89% org; excl. two large orders of MUSD 239 received Q3 2022, decrease -49% org. due to changed ordering pattern among customers underlying demand continued good good development in Europe, i.e. Oasis product > Order B
Slide 10: Data Center Technologies
Data Center Technologies Good execution on large orders i Ch %: + Net Sales strong increase; | A223 = 2023 | 2022 | Organic | Struc Good execution on large projects & increased MSEI deliveries, proceeding according to plan Order intake 404 | 3,406 | -89% - * production ramp-up in Europe ongoing, pre
Slide 11: FoodTech
FoodTech Strong growth journey in Digital solutions Ps% Oh ~15% mM s0-1% BW neg + Order Intake increased +22% org,; % order intake Market * driven by the US & improvement in EMEA Customer segment Q3 2023 Outlook * * CS - good development in the broiler & layer segments in the US. Slight recovery in
Slide 12: FoodTech
FoodTech hi ‘% 2023 2022 Organic S Commercial excellence initiatives drives margin improvement > Net Sales flat; || * CS -cont. weak markets in APAC & EMEA. Layer Order intake 651 507 22% 5% 1% segment good growth in all regions. Grsrlesces, 999 908 * DS~-SaaS ARR grew +53% Net sales 650 | 504 | 1%
Slide 13: Strengthening the FoodTech portfolio
Strengthening the FoodTech portfolio > Gaya farm project, South Korea Swine farm of 2,725 m? Sold products - Trio controllers & Lavamatic + Lavamatic - cleans the air (inside & out) * Trio controllers — cloud control management for air quality & animal welfare Chosen for Munters innovative and susta
Slide 14: Munters focus areas
Munters focus areas ILLUSTRATIVE Direction of positioning - 2023 and beyond » ) , mn Y Data Center Profitability Digital Solutions FoodTech Climate ww) 4 * Software as a Service Grey bubbles illustrate the direcion communicated in @4 2022 —1/- Growth Growth Profitability Stability Focus areas 2023 a
Slide 15: Advancement towards our sustainability goals
Advancement towards our sustainability goals End of September 2023 Goal Renewable electricity, factories 80% (71) Net zero scope Energy efficiency, factories* 0.51 (0.71) emissions ; oe by 2030 Recycling rate (LTM) 52% (54) Health & TRIR™ (LTM) 1.2 (1.6) Zero Safety accidents 30% % of women in workf
Slide 16: Financial highlights
Financial highlights Kg
Slide 17: Strong net sales growth
Strong net sales growth . . . . . 7 Net Sales strong increase; = Strong development DCT & battery, AT = Services organic growth 7% to MSEK 479, representing 13% of total net sales Adj. EBITA margin improved in all business areas Improved cash flow; = Stronger earnings & positive effects from changes
Slide 18: Adjusted EBITA-margin
Adjusted EBITA-margin All business areas contributed to improved profitability Main factors affecting adj. EBITA margin in Q3: Q3 2022 1 * Strong volume increase driven mainly by DCT & eel ELIAS battery in AT Volume oep oe . q q * Net pricing increases in all business areas Net pricing ++ * Operatio
Slide 19: Cash flow
Cash flow Cash flow from operating activities improved in the quarter Group Cash Flow YTD, MSEK billion Cash flow from changes in WC Q3 2023 Q3 2022 600 Change in accounts receivable 19 -94 500 a Change in inventory 161 -149 [38] Change in accrued income 60 62 400 444 458 5 Change in accounts payabl
Slide 20: Leverage & net debt
. Leverage & net deb Decreased leverage ratio 2000 3,0 . * Leverage ratio decreased from 1000 os mainly driven by increased adj. EBITA. 2,0 -1000 : * Net debt increase due to: -2000 15 = acquisitions financed partly by debt during the last 4 quarters ©3000 lo * increased lease liabilities related to
Slide 21: Summary
Summary
Slide 22: Financial targets
Financial targets Progression towards our financial targets 22 Net sales growth” 40% 15% 30% 28% 10% 20% 5% 10% a Financial target 10% 0% 0% a3 a4 al a @ a4 at @ @ 2021 2022 2023 * Organic.growth pa. over a business cycle a3 Adj. EBITA margin a4 a a2 a a @ 2021 2022 14.1% ford 2023 a3 OWC/net sales
Slide 23: Strong net sales growth & profitability improvement
Strong net sales growth & profitability improvement 23
Slide 24: C3 pgaseie. fee
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