Nordisk Bergteknik Ab Class B · OMXSTO:NORB_B
Nordisk Bergteknik Ab Class B — Q4 2025 Earnings Presentation
22 slides from Nordisk Bergteknik Ab Class B's earnings presentation, Feb 12, 2026
Slide 1: Nordisk Bergteknik Q4
February 12, 2026 Nordisk Bergteknik Q4
Slide 2: Table of contents
Table of contents Nordisk Bergteknik at a glance Financial targets and strategy to get there Nordisk Bergteknik at a glance Financial targets and strategy to get there This is Nordisk Bergteknik This is Nordisk Bergteknik Predicted continued growth Caret Right with solid fill Predicted continued gro
Slide 3: This is Nordisk Bergteknik
This is Nordisk Bergteknik Was there a better way of building modern, sustainable SECTORS societies? We believed so. We also considered that a more Infrastructure, energy, real estate, mining consolidated market for rock and foundation solutions was part of the answer. So, in 2016, Nordisk Bergtekni
Slide 4: Leading the market in rock and foundation solutions
Leading the market in rock and foundation solutions 141m 1,130 FOUNDED IN 2016 SEK ADJ. EBIT Q4 2025 LTM # OF EMPLOYEES SEK 3,451m 4.1% 18 SALES Q4 2025 LTM ADJ. EBIT MARGIN Q4 2025 LTM OPERATING SUBSIDIARIES
Slide 5: Areas for our services and solutions
Areas for our services and solutions Rock Rock and concrete Drilling Rock excavation Prospecting, excavation and Excavation of rock, mainly reinforcement reinforcement through blasting Maintenance of rock and concrete constructions Foundation Foundation Foundation work Sheet piling Ensuring a stable
Slide 6: Attractive business mix
Attractive business mix REVENUE BY SEGMENT, LTM Q4 2025 EBIT PER SEGMENT, LTM Q4 2025 26% 51% Rock Rock Norway Sweden 81% Rock Sweden 23% 13% Foundation Rock Sweden Norway 6% Foundation Sweden
Slide 7: Diversified project portfolio lowers the risk level
Diversified project portfolio lowers the risk level High revenue diversification and few projects with fixed price Few large projects spread Mining and prospect Direct exposure to No. of projects yearly over several years account drilling becoming an construction of new to less than increased part o
Slide 8: Operational synergies lead to attractive offering and barriers to entry
Operational synergies lead to attractive offering and barriers to entry Synergies Barriers to entry • Knowledge sharing • Economies of scale • Flexible resource and machine • Strong market position and allocation track record • Centralised sourcing of raw • Highly experienced employees materials and
Slide 9: Interim Report Q4
Interim Report Q4 Increased profitability and continued organic growth in a recovering market
Slide 10: Financial performance (1/2)
Financial performance (1/2) 915 911 20,0% 910 Oct - Dec 905 • Net revenue increased by 2% and amounted to SEK 911.3 (896.7) 900 897 million. 895 890 888 • Organic growth amounted to 2 (2)%. 5.7% 885 • Adjusted EBIT amounted to SEK 51.7 (33.4) million. The adjusted 880 3.5% 3.7% EBIT margin amounted
Slide 11: Financial performance (2/2)
Financial performance (2/2) Financials • Adjusted cash flow from operating activities 196 amounted to SEK 179.2 (177.9) million during the fourth quarter. • Net debt/adjusted EBITDA amounted to 3.2x (3.2). 178 179 • Cash and cash equivalents amounted to SEK 58.3 (118.5) million. • Utilized overdraft
Slide 12: Performance per segment – Rock Sweden
Performance per segment – Rock Sweden SEKm 500 453 474 454 449 429 406 392 379 400 • External net sales for the fourth quarter 300 amounted to SEK 453.9 (452.5) million. The segment’s organic growth decreased by 2% 200 during the quarter. 100 • EBIT for the fourth quarter amounted to SEK 0 39.5 (24.
Slide 13: Performance per segment – Rock Norway
Performance per segment – Rock Norway SEKm 300 266 260 250 231 224 215 216 • External net revenue in the segment for the fourth 200 164 157 quarter amounted to SEK 259.6 (215.7) million, an 150 increase of 20%, mainly attributable to higher 100 market activity. Organic growth amounted to 27%. 50 • T
Slide 14: Performance per segment – Foundation Sweden
Performance per segment – Foundation Sweden SEKm 300 228 241 250 194 189 198 • External net revenue during the fourth quarter 200 182 176 181 decreased by 13% and amounted to SEK 197.9 150 (228.4) million. The decrease is due to the 100 continued challenging market with low 50 construction activity.
Slide 15: Sustainable financial outlook
Sustainable financial outlook NET SALES DEVELOPMENT ADJUSTED EBITDA DEVELOPMENT ADJUSTED EBIT DEVELOPMENT 25% -4% -7% 6% 3 526 493 485 244 SEKm 3 402 3 451 SEKm SEKm 3 305 451 457 25% 281 134 173 1 918 141 122 7.0% 7.2% 14.6% 14.5% 13.7% 13.6% 13.3% 4.9% 3.7% 4.1% 2021 2022 2023 2024 2025 2021 2022
Slide 16: Net debt and leverage
Net debt and leverage DEBT RATIO (NET DEBT/EBITDA) • Net debt amounts to SEK 1,473m (1,447). 3,5 3,6 3,6 3,5 3,5 3,5 3,2 3,2 • Machine loans amounts to SEK 461m and lease liabilities to SEK 277m. 2,5 • Debt ratio (net debt/EBITDA LTM) amounts to 3.2x (3.2). • Cash and cash equivalents amounts to SEK
Slide 17: Nordisk Bergteknik’s environment
Nordisk Bergteknik’s environment • Continued strong demand for our services in infrastructure, mining/prospect drilling, operation and maintenance services as well as material handling services. Current trading • There is a significant underlying need for new infrastructure investments and probably
Slide 18: Strategy and financial targets
Strategy and financial targets
Slide 19: Predicted continued growth (1/2)
Predicted continued growth (1/2) 3 GEOGRAPHICAL EXPANSION Future • Add additional steps in value chain to offering • Both backward and forward integration is possible 1 4 EXECUTE ON EXPLOIT EXISTING M&A CURRENT PIPELINE CAPABILITIES • Continued M&A journey • Unique collaborations through disciplined
Slide 20: Predicted continued growth (2/2)
Predicted continued growth (2/2) Future Successful operations in a niche market • Limited competition in a niche market with high barriers to entry since operations requires a high level of expertise, specialized 4 EXECUTE ON EXISTING M&A PIPELINE equipment and machine capacity. • Additional upside
Slide 21: Financial targets and dividend policy
Financial targets and dividend policy 40% Dividend 15% policy Growth 7% Profitability <2,5x Capital structure Achieve annual net sales growth of The Group targets an adjusted The net debt in relation to adjusted Nordisk Bergteknik aims to distribute 40 more than 15 percent over a business EBIT-margi
Slide 22: Nordisk Bergteknik
NORDISK BERGTEKNIK