Slide 1: Third Quarter 2025
Third Quarter 2025 November 13. 2025 Jan Jahren, CEO Sverre Hærem, EVP & CFO Christian Wieland Dep. CEO & EVP Sentia Sweden
Slide 2: Q3 2025 Highlights
Q3 2025 Highlights Strong growth and a solid result in the quarter Revenue of MNOK 2 850 (2 539) – up by 12,2% from Q3 2024 EBT MNOK 189 (181) Order intake of MNOK 1 043 (1 063) Order backlog of MNOK 19 535 (15 816) Net financial position of MNOK 3 254 (3 002) Fornebuporten Valhall, Stavanger 2 Sent
Slide 3: HMS
HMS Number of injuries LTI-rate* Sick leave rate Per quarter, Sentia employees, hired staff and sub- 12-month rolling– Sentia employees, hired staff and Per quarter, Sentia employees contractors subcontractors 7 7 4,8 % 4,9 % 2,4 4,6 % 4 4 2,1 4,6 % 2,0 4,4 % 2 1,8 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 2
Slide 4: Continued strong order backlog
Continued strong order backlog Order intake Order backlog NOK billion NOK billion 6,0 21,3 19,5 18,3 5,0 15,8 16,1 2,8 1,1 1,0 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 4 Sentia Q3 2025
Slide 5: New projects in the quarter - HENT
New projects in the quarter- HENT Air Traffic Control Centre Petersborggata 7 Kjøpsvik school and kindergarten Bodø Airport Illustrasjon | Archus Arkitekter AS Location: Bodø Location: Kjøpsvik Location: Tromsø Developer: Avinor Developer: Narvik municipality Developer: Total prosjekt AS Contract va
Slide 6: New project in the quarter – Sentia Sweden
New project in the quarter– Sentia Sweden Sätra Ice Rink Location: Stockholm Developer: Hemsö Contract value: to be determined after phase 1 Scope: 12 000 m2 Completion: 2027 6 Sentia Q3 2025
Slide 7: The market
The market Current situation • Market downturn in 2025 in both Norway and Sweden • Challenging market for residential construction • Increased competition and more bidders on each project Market outlook • Expected increase in residential construction in 2026 could impact the entire market • Growth a
Slide 8: Sentia Sweden
Sentia Sweden Christian Wieland Deputy CEO & EVP Sentia Sweden Sentia Q3 2025
Slide 9: A strong challenger in the Swedish construction market
A strong challenger in the Swedish Selected projects construction market Office location Ongoing project Delivered project Sentia Sweden consists of the construction companies Vestia, SSEA and Målbygg HQ Kiruna Strong local presence – from Malmö to Kiruna Turnkey contractor with broad expertise – fr
Slide 10: Growth driven by partnering
Growth driven by partnering • Strong business model with partnering at the Selected project from the order backlog core • Revenue growth up 46% year-to-date compared to the same period last year • Order backlog up 141% compared to the same period last year Phase 1 (2-5% of revenue) Phase 2 (95-98% o
Slide 11: Strong customer relations strengthens market position
Strong customer relations strengthens market position Top 10 customers Sector Public Customer loyalty GÂLLIVARE KOMMUN Public index 2025(1) 74% of revenue KUNGÂLVS KOMMUN Public Phase 1 and Phase 2 in 2025 is from repeat Public customers Public 95/100 Private Private Private Customer satisfaction Pr
Slide 12: Strategic partnering – program “Lyftet” with Mölndals Municipality
Strategic partnering – program “Lyftet” with Mölndals Municipality A lift for Mölndal – building the future Vision Cure values Result “Lyftet” – sustainable Shared knowledge, trust Eight projects – buildings for the best and dedication kindergarten, schools start to lifelong learning – every day! an
Slide 13: “Lyftet” in Mölndal – implementation of the programme
“Lyftet” in Mölndal – implementation of the programme 2020 2021 2022 2023 2024 2025 Vestia and Mölndal Fässberg building H Almås school Västerberg school Ôstergård school, Brattås school entered a long-term and building L building C part 1 strategic partnering Bifrosts preschool Ôstergårds school St
Slide 14: Other ongoing partnering projects in phase 1
Other ongoing partnering projects in phase 1 Kungälv Arena | 50,000m2 Multi-activity house | 20 600m2 Stockholm university of arts | 36 000m2 Phase 1 ongoing Phase 1 ongoing Phase 1 ongoing Phase 2 – part 1 Infrastructure Phase 2 – part 1 Structural works Q2 ‘25 204 MSEK Q2 ‘25 286 MSEK 14 Sentia Q3
Slide 15: Q3 Results and Financial status
Q3 Results and Financial status 15 Sentia Q3 2025
Slide 16: Q3 2025 – Sentia
Q3 2025 – Sentia Revenues EBT and EBT margin MNOK MNOK Quarter YTD 2 836 2 929 2 850 202 2 539 2 597 181 189 MNOK Q3 2025 Q3 2024 Jan-Sep 2025 Jan-Sep 2024 119 114 Revenues 2 850 2 539 8 614 7 934 7,1% 6,9% 6,6% EBIT 159 153 390 433 4,6% 4,0% EBT 189 181 504 521 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q3 24 Q
Slide 17: HENT
HENT Revenues EBT and EBT margin MNOK MNOK Quarter YTD 2 365 177 172 2 329 164 2 312 158 MNOK Q3 2025 Q3 2024 Jan-Sep 2025 Jan-Sep 2024 144 2 221 Revenues 2 312 2 221 7 006 6 840 2 161 8,0% EBIT 146 143 383 381 7,3% 6,9% 7,5% 6,2% EBT 172 177 480 481 EBIT margin 6,3% 6,5% 5,5% 5,6% Q3 24 Q4 24 Q1 25
Slide 18: Sentia Sweden
Sentia Sweden Revenues EBT and EBT margin MNOK MNOK Quarter YTD 563 23 23 22 538 507 20 437 MNOK Q3 2025 Q3 2024 Jan-Sep 2025 Jan-Sep 2024 319 12 Revenues 538 319 1 609 1 098 EBIT 22 10 67 52 4,6% 4,5% 4,2% 4,2% 3,9% EBT 22 12 68 60 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 EBIT ma
Slide 19: Cash flow – Sentia
Cash flow – Sentia Cashflow from operations MNOK Quarter YTD MNOK Q3 2025 Q3 2024 Jan-Sep 2025 Jan-Sep 2024 EBIT 159 153 390 433 790 Depreciation and amortisation 27 22 80 71 Paid taxes -4 3 -17 -33 Change in working capital 27 226 -297 -343 Cash flow from operations 210 404 155 129 404 Cash flow fro
Slide 20: A strong financial position ensures stability and flexibility
A strong financial position ensures stability and flexibility Cash and interest-bearing receivables Interest-bearing debt Net financial position MNOK MNOK MNOK 4 125 372 3 767 359 327 3 471 3 254 3 329 3 263 226 217 3 002 3 037 3 086 2 714 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25
Slide 21: Balance sheet - Sentia
Balance sheet - Sentia Equity share MNOK MNOK 30.09.25 30.09.24 31.12.24 Equity Non-current assets 1 429 1 457 1 435 Current assets, excl. Cash amd int.-bearing rec. 1 354 1 321 1 210 1 497 Cash and interest-bearing receivables 3 471 3 329 4 125 Total assets 6 254 6 108 6 770 Equity share 23,9% Equi
Slide 22: Return on capital employed
Return on capital employed EBIT Capital employed Return on capital employed MNOK, last four quarters MNOK, average last four quarters EBIT/average capital employed 566 1 978 539 1 887 523 1 821 517 1 735 30,1% 28,6% 28,6% 28,4% 2024 Q1 2025 Q2 2025 Q3 2025 2024 Q1 2025 Q2 2025 Q3 2025 2024 Q1 2025 Q
Slide 23: Summary
Summary • Continued strong growth, particularly in Sweden • Solid operations throughout the organization • Strong results driven by several large project handovers during the quarter • Order intake in the quarter impacted by a market with limited growth and strong competition • Robust order backlog
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