Slide 1: Annual report 2025
Annual report 2025 Lars Bering, CEO Allan Jeppesen, CFO 25 March 2026 SP Group
Slide 2: SP Group's Executive Board
SP Group’s Executive Board Lars Bering Søren Ulstrup Allan Malmos Jeppesen CEO EVP CFO SP Group Annual Report 2025 – 25 March 2026 2
Slide 3: At a glance
At a glance Global manufacturer of plastics solutions SP Group’s 2025 sales broken down by product group: Foodtech 73% 27% subsupplier projects own products Healthcare 13% Global 33 40% Other footprint factories 20% 2,766 employees 11 technologies Cleantech SP Group Annual Report 2025 – 25 March 202
Slide 4: SP Group – Advanced plastics solutions
SP Group – Advanced plastics solutions Ergomat SP Medical TPI-Polytechniek MedicoPack Ergonomic solutions for Guidewires for Components for Packaging for industrial work environments medical use livestock housing ventilation the pharmaceutical industry Nycopac SP Tinby SP Moulding SP Meditec Industr
Slide 5: Global focus
Global focus Geographic location of SP Group’s companies and breakdown of global sales in 2025 Sales and production 27% • Denmark (15) • Poland (6) • China (2) Denmark • USA (3) • Latvia (1) • Slovakia (2) • Sweden (1) • Finland (2) 0 47% • India (1) Sales and distribution 16% Europe (excluding 10%
Slide 6: Highlights 1/2
Highlights 1/2 Record Q4 2025 Revenue performance in DKKm • Revenue growth of 13.7% • EBITDA growth of 26.0% +0.9% • EBT growth of 27.9% 2,922 2,948 Record 2025 • Revenue growth of 0.9% • EBITDA margin of 20.2% • EBT margin of 11.7% +13.7% Outlook for 2026 • Revenue growth in the range of 15-23% 826
Slide 7: Highlights 1/2
Highlights 1/2 • Growth in subsupplier projects • Postponement of projects in Q2 and Q3 due to uncertainty regarding tariffs • Increased Healthcare production in the US • Expansion of value chain through acquisition of Idé-Pro SP Meditecs’s production facility in Atlanta, USA SP Group Annual Report
Slide 8: Growth in subsupplier projects
Growth in subsupplier projects Own products include pharmaceutical packaging, guidewires, Revenue, subsupplier projects farm ventilation systems, maritime products and DKKm 2,149 ergonomic solutions +5.7% 1,952 1,986 2,034 1,837 2021 2022 2023 2024 2025 Revenue, own products DKKm 888 -10.1% 644 704
Slide 9: Sales to customer groups in 2025
Sales to customer groups in 2025 Healthcare 40% Cleantech 27% Foodtech 13% Other 20% • Medical devices • Renewable energy • Livestock housing ventilation • Furniture • Pharmaceutical packaging • Energy reduction • Measuring equipment • Specialist vehicles • Ergonomics and safety • Insulation product
Slide 10: Highlights 2/2
Highlights 2/2 • Growth in subsupplier projects • Postponement of projects in Q2 and Q3 due to uncertainty regarding tariffs • Increased Healthcare production in the US • Expansion of value chain through acquisition of Idé-Pro SP Meditecs’s production facility in Atlanta, USA SP Group Annual Report
Slide 11: Acquisition of Idé-Pro 1/2
Acquisition of Idé-Pro 1/2 • Acquisition of Idé-Pro at 17 December 2025 • Enterprise Value: DKK 700 million • Expected to contribute revenue of about DKK 450 million and EBITDA of DKK 100 million in 2026 Strengths: • High degree of digitalisation • Own production of tools • Focus on functional proto
Slide 12: Acquisition of Idé-Pro 2/2
Acquisition of Idé-Pro 2/2 Synergies: • Growth through cross-selling • Large-scale in-house production of tools • Expansion of Indian platform • Synergies expected to be realised in the range of DKK 20-25 million, with full effect in 2027 About Idé-Pro: About Idé-Pro: • 300 Production in Skive emplo
Slide 13: Financial highlights 2025 1/2
Financial highlights 2025 1/2 Revenue EBITDA DKKm 2,948 DKKm 2,922 +0.9% 2,656 2,606 +1.1% 423 478 441 589 595 2,481 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 EBIT EBT DKKm DKKm 345 345 +3.1% +0.1% 386 398 258 269 269 296 241 201 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 SP Group Ann
Slide 14: Financial highlights 2025 2/2
Financial highlights 2025 2/2 Cash flows from operating activities declined Earnings per share, diluted, increased by 2.3% by DKK 117 million DKK DKKm 510 21.6 22.1 360 393 16.4 17.5 264 13.0 238 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 Net interest-bearing debt (NIBD) increased Equity incr
Slide 15: Revenue performance
Revenue performance DKKm 2,948 2,922 2,656 2,606 2,481 2,178 1,965 2,013 1,884 1,519 1,320 1,109 1,102 1,165 977 852 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 SP Group Annual Report 2025 – 25 March 2026 15
Slide 16: EBITDA and EBITDA margin performance
EBITDA and EBITDA margin performance DKKm % 800 EBITDA growth of 1.1% in 2025 700 20.2% • The EBITDA margin rose to 20.2% in EBITDA-margin in % 2025, an 8.2 percentage point 600 EBITDA increase since 2015 595 500 • The margin improvement was driven by: 400 – Increased share of own products 300 – Inc
Slide 17: EBT and EBT margin performance
EBT and EBT margin performance DKKm 2025 EBT in line with the 2024 level % 500 11.7% • The EBT margin rose from 6% in EBT-margin in % 2015 to 11.7% in 2025 400 EBT • The margin improvement was driven by: 345 345 300 – Increased share of own products 258 269 – Increased production in low-cost 200 6.0
Slide 18: Key figures and financial ratios
Key figures and financial ratios DKKm 2025 2024 2023 2022 2021 Revenue 2,948 2,922 2,606 2,656 2,481 EBITDA 595 589 441 478 423 EBIT 398 386 241 296 269 EBT 345 345 201 269 258 EPS, diluted (DKK) 22.1 21.6 13.0 17.5 16.4 Equity 1,809 1,697 1,464 1,266 1,084 Cash flows from: - operating activities 39
Slide 19: The war in the Middle East
The war in the Middle East Potential impact: • Increasing raw materials and energy prices • Longer lead times for raw materials Actions: • Close dialogue with customers and suppliers regarding delivery and prices • Robust raw materials inventory Outlook for 2026 is based on the assumption that the c
Slide 20: Outlook for 2026
Outlook for 2026 Revenue growth EBITDA margin EBT margin New products, new customers, growth among existing customers and the acquisition of Idé-Pro provide new growth 15-23% 19-21% 11-13% opportunities SP Group Annual Report 2025 – 25 March 2026 20
Slide 21: Group strategy
Group strategy 1 2 3 4 5 6 Strong Clear positioning One-stop shop Own products More Focus on subsidiaries acquisitions sustainability High degree of Focus on growth Several technologies Niche plastic products Continue to explore Sustainability as a autonomy industries provide best choice for sold gl
Slide 22: Ambitions towards 2030
Ambitions towards 2030 6-9% annual EBITDA margin of EBT margin of growth during the 20-22% in 2030: 12-14% in 2030: period to 2030: ≈ DKK 4.5 ≈ DKK 950 ≈ DKK 600 billion million million SP Group’s production facilities in Poland SP Group Annual Report 2025 – 25 March 2026 22
Slide 23: Summary
Summary • Demonstrated resilience in 2025 • All-time high Q4 2025 • Growth in subsupplier projects • Acquisition of Idé-Pro entails growth and opportunities • Conflict in the Middle East may impact 2026 performance • SP Group is ready for growth SP Group Annual Report 2025 – 25 March 2026 23
Slide 24: Q&A session
Q&A session SP Group 24
Slide 25: Further information: Lars Bering CEO
Further information: Lars Bering CEO SP Group A/S Snavevej 6-10 5471 Søndersø Denmark Tel.: +45 7023 2379/ +45 4033 8850 E-mail: lb@sp-group.dk SP Group