Slide 1: Year-end Report 2025
Year-end Report 2025
Slide 2: President and CEO
President and CEO Anders Lindqvist 2
Slide 3: Agenda
Agenda • Q4 in short • Divisional development • Financials • Sustainability • Q&A • Appendix – Market update 3
Slide 4: Q4 in short
Q4 in short Solid ending to the year • Order intake declined 19% to SEK 1,939 (2,381) million • Explained mainly by Pattern Generators • Stellar Q4 2024 • Net sales posted a minor decline of 2% to SEK 2,021 (2,059) million • Declines in Pattern Generators, PCB Assembly Solutions and High Volume almo
Slide 5: Pattern Generators
Pattern Generators Share of Group’s net sales Net sales SEK 577 M EBIT SEK 173 M Continued R&D investments 29% Order intake SEK 545 M EBIT margin 30% • The semiconductor photomask market showed positive development • Mainly driven by AI applications • The display photomask market remained stable • O
Slide 6: PCB Assembly Solutions
PCB Assembly Solutions New product launches • The European market continued to be weak, the US market was stable, and Asia showed positive development • Participated at the biennial Productronica trade show, where new products were launched • GenI and MYPro A41 series • Order intake decreased 7% to
Slide 7: High Volume
High Volume Production facility in Thailand • High Volume participated at the Productronica trade show, generating a substantial amount of leads, mainly for the European market • Listing Axxon on a stock exchange in China on hold • ESOP program launched • Inauguration of new production facility in T
Slide 8: Global Technologies
Global Technologies Strong development • AI-driven demand supported a strong market development for the PCB Test and Die Bonding business lines • Order intake increased 68% to SEK 773 (461) million • Net sales increased 41% to SEK 570 (403) million • Acquired companies Hprobe, RoBAT and Surfx contri
Slide 9: Outlook 2026
Outlook 2026 Net sales SEK 8.25 billion 9
Slide 10: CFO and Sr VP Corporate Development
CFO and Sr VP Corporate Development Pierre Brorsson 10
Slide 11: Group net sales and EBIT margin per quarter
Group net sales and EBIT margin per quarter MSEK % 2500 40 35 • Net sales declined 2% vs Q4 2024, to SEK 2,021 million 2000 30 • Aftermarket revenue at SEK 511 million 25 1500 • EBIT margin at 17% 20 1000 15 10 500 5 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2024 2025 Aftermarket System EBIT margin 11
Slide 12: Group net sales and EBIT margin rolling 12 months
Group net sales and EBIT margin rolling 12 months MSEK % 9000 50 8000 45 • Net sales R12 amounted to SEK 7,938 million 7000 40 35 • EBIT margin R12 at 24% 6000 5000 30 • Aftermarket revenue R12 at SEK 1,977 million 25 4000 • 25% of net sales 20 3000 15 2000 10 1000 5 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 202
Slide 13: Group Q4 EBIT bridge
Group Q4 EBIT bridge MSEK -35% 527 -18 -40 -61 -38 -19 342 -7 EBIT Q4 Volume Gross R&D M&S G&A Other EBIT Q4 2024 effect margin 2025 effect % of Sales 2024 26% 49% -10% -8% -5% 1% % of Sales 2025 47% -14% -10% -6% 0% 17% 13
Slide 14: Group 2025 EBIT bridge
Group 2025 EBIT bridge MSEK -4% -24 -232 468 -121 2 021 -95 -77 1 940 EBIT YTD Volume Margin R&D M&S G&A Other EBIT YTD 2024 effect effect 2025 % of Sales 2024 29% 53% -11% -9% -5% 1% % of Sales 2025 52% -12% -9% -6% 0% 24% 14
Slide 15: Divisional Q4 EBIT contribution
Divisional Q4 EBIT contribution MSEK 26% 527 17% -137 32 342 -47 -12 -21 Q4 2024 Pattern Generators PCB AS High Volume Global Technologies Group functions Q4 2025 15
Slide 16: Divisional 2025 EBIT contribution
Divisional 2025 EBIT contribution MSEK 29% 24% 2 021 111 43 1 940 - 72 - 86 - 77 2024 Pattern Generators PCB AS High Volume Global Technologies Group functions 2025 16
Slide 17: Cash flow impacted by acquisitions, dividends and working capital
Cash flow impacted by acquisitions, dividends and working capital MSEK YTD 2025 YTD 2024 Cash flow from operations • Solid cash flow from operations before change in working capital 1,956 2,198 • Increase in working capital driven primarily by higher Change in working capital -549 -324 inventory and
Slide 18: President and CEO
President and CEO Anders Lindqvist 18
Slide 19: Sustainability
Sustainability • Data as per December 31 shows progress on diversity. The share of women in the workforce, as well as in managerial roles, increased in 2025 • Notably, the Pattern Generators division reported a rise in female representation in its workforce, from 19% to 22% • The “Diversity and incl
Slide 20: MYCRONIC
MYCRONIC
Slide 21: Appendix: Q4 2025 Market update
APPENDIX Q4 2025 Market update
Slide 22: Preliminary outcome 2025
Preliminary outcome 2025 Market summary and updates • Global electronics industry 8.5% to USD 2,770 billion1) • Semiconductors 20.4% to USD 756 billion1) • Optical components 39.3% to USD 16.6 billion3) • PCBs 15.4% to USD 84.9 billion4 • Display market -1.8% to USD 133 billion5) • Display photomask
Slide 23: Forecasts 2026
Forecasts 2026 Market summary and updates • Global electronics industry 5.8% to reach USD 2,931 billion1) • Semiconductor industry 16.0% to reach USD 877 billion1) • Optical components 20.8% to reach USD 20.1 billion2) • PCBs 9.1% to reach USD 92.6 billion3) • Displays -1.5% to USD 131 billion4) • D
Slide 24: Electronics industry systems
Electronics industry systems Yearly development by industry segment • Growth of 8.5% estimated for 2025, to reach USD USD billion 2,770 billion, with strongest development in 3 500 • Computers 19.7% • Aerospace/Defense 8.6% 3 000 • Medical 5.8% 2 500 • Communication 4.8% • Growth of 5.8% forecast fo
Slide 25: Semiconductors
Semiconductors Quarterly development USD billion 275 • Estimated 20.4% growth in 2025 to 250 reach USD 756 billion 225 • Forecast 16.0% growth in 2026 to 200 reach USD 877 billion 175 • 2024 to 2029 CAGR growth forecast at 150 10.1% to reach USD 1,015 billion 125 100 75 50 25 0 2020 2021 2022 2023 2
Slide 26: SMT and Dispensing
SMT and Dispensing Market update SMT assembly equipment* • The SMT assembly equipment market declined 7.7% in 2024 to USD 2,077 million1) • The segment SMT robots for component mounting grew 25.2% in 2025, to USD 2,600 million. Markets in Southeast Asia and China showed growth while North and South
Slide 27: Optical components for data/telecom
Optical components for data/telecom Long-term growth in key die bonding market driven by mega trends Optical components for data/telecom (BUSD) Healthy data/telecom long-term growth 43.9 • Optical components production is the main 16.9% 39.5 driver for die/lens attach and other adjacent processes 33
Slide 28: Pattern Generators - display panel market
Pattern Generators - display panel market Slight decline 2025-26 despite stable area growth, with growth resuming in 2027 BUSD Display panel revenue Display panel area Million m2 250 2.8% 350 314 301 306 200 1.6% 300 280 290 264 273 143 250 150 135 133 131 135 139 140 200 100 150 100 50 50 0 0 2024A
Slide 29: Pattern Generators - OLED display panel market
Pattern Generators - OLED display panel market OLED panel area grows strongly, but price pressure drives negative market growth in 2025-2026 OLED display panel area BUSD OLED display panel revenue BUSD 100 30 6.9% 28 26 25 24 80 4.1% 22 63 19 20 57 60 20 18 60 54 51 55 50 15 40 10 20 5 0 0 2024A 202
Slide 30: Pattern Generators - display photomask market
Pattern Generators - display photomask market Developed positively 2025, forecast to stay on similar level 2026 Billion Japanese Yen Thousands of square meters Mask Revenue Mask Area 200 30 1.8% 1.0% 25 150 20 100 15 10 50 5 0 0 2024A 2025E 2026F 2027F 2028F 2029F 2024A 2025E 2026F 2027F 2028F 2029F
Slide 31: Pattern Generators - OLED display photomask market
Pattern Generators - OLED display photomask market Increasing photomask demand for OLED displays - 2026 expected to be another positive year Thousands of square meters Mask Area OLED 10 • OLED development for mobile, IT and TV displays drives demand 5.1% 9 for OLED photomasks 8 • The transition to O
Slide 32: Bringing tomorrow's electronics to life
Bringing tomorrow’s electronics to life MYCRONIC