Studsvik Ab · OMXSTO:SVIK
Studsvik Ab — Q2 2025 Earnings Presentation
27 slides from Studsvik Ab's earnings presentation, Jul 22, 2025
Slide 1: Studsvik Group Interim Report Q2 2025
Studsvik Group Interim Report Q2 2025 Karl Thedéen, President and CEO Peter Teske, CFO July 22, 2025
Slide 2: Empowering the nuclear industry from new build to decommissioning
Empowering the nuclear industry with solutions from new build through life extensions to decommissioning GLOBAL SALES IN 893 NET SALES 2024 15+ 500+ EMPLOYEES SEK Million COUNTRIES ACROSS 7 COUNTRIES IN ALL REGIONS IN EUROPE, ASIA AND US Studsvik Interim Report Q2 2025 3
Slide 3: Studsvik offerings
Studsvik offerings Empowering the nuclear industry with solutions from new build through life extensions to decommissioning Other services in Decommissioning radioactive Operating spaces New Build Plants • Isotope production • Waste treatment • Fuel and materials for life science • Decommissioning t
Slide 4: Strong earnings growth in a dynamic market
Strong earnings growth in a dynamic market ▪ Sales in the quarter amounted to SEK 227.6 (235.5) million, a decrease of 3.4 per cent, Quarter 6 months Jan-Dec 0.4 per cent in local currencies Q2 2025 Q2 2024 2025 2024 2024 ▪ Positive operating profit Sales, SEK million 227.6 235.5 454,6 444,9 893.1 d
Slide 5: Key milestones in Q2 2025
Key milestones in Q2 2025 • New Executive Management Group with an increased focus on group synergies, business development and strategy including M&A • High interest in Studsvik products and solutions based on the more positive investment cycle in the nuclear sector • The US Nuclear Regulatory Comm
Slide 6: Studsvik Business Areas
Studsvik Business Areas Decommissioning and Radiation Fuel, Materials and Waste Studsvik Scandpower Protection Services Technology Studsvik Interim Report Q2 2025 7
Slide 7: Decommissioning and Radiation Protection Services, DRPS
Decommissioning and Radiation Protection Services, DRPS • Offers the entire chain from planning and project management to radiological assessments, radiological clearance of material and waste documentation • A competitive market with challenging conditions • Actions to improve profitability, review
Slide 8: Fuel, Materials and Waste Technology
Fuel, Materials and Waste Technology • Services in nuclear fuel qualification, analysis of material, research on final disposal, including waste management solutions • Very strong operating profit in a dynamic market • Deliveries to SMR technology companies showing increased interest • Continued int
Slide 9: Studsvik Scandpower
Studsvik Scandpower • World-leader in development and support of software for reactor fuel analysis independent of fuel suppliers • Solid business, but lower license sales in the quarter following strong Q4 2024 and Q1 2025 • High interest for newly acquired BlackStarTech safety solutions • Continui
Slide 10: Financials for respective Business Areas
Financials for respective Business Areas Decommissioning and Quarter 6 months Jan-Dec Fuel, Materials and Waste Quarter 6 months Jan-Dec Radiation Protection Services Technology Q2 2025 Q2 2024 2024 2023 2024 Q2 2025 Q2 2024 2024 2023 2024 Sales, SEK million 89.7 102.2 176.0 183.4 373.3 Sales, SEK m
Slide 11: Financials for respective Business Areas
Financials for respective Business Areas Quarter 6 months Jan-Dec Studsvik Scandpower Q2 2025 Q2 2024 2024 2023 2024 Sales, SEK million 35.5 39.4 81.7 74.0 179.9 Operating profit, 2.3 5.6 13.6 7.0 32.7 SEK million Operating profit 6.5 14.3 16.6 9.4 18.2 margin, % • The Business Area is subject to se
Slide 12: Net Sales
Net Sales • Sales in the quarter amounted to SEK Q2 and First Half Year 2025 227.6 (235.5) million, a decrease of 3.4 per cent • In local currencies, a decrease of 0.4 per cent • Second strongest Q2 in 10 years • Sales in first half year amounted to SEK 454.6 (444.9) million, an increase of 2.2 per
Slide 13: Operating profit
Operating profit • Operating profit for the quarter increased Q2 and First Half Year 2025 to SEK 17.6 (13.7) million. The operating margin was 7.7 (5.8) per cent • Improvement driven by Fuel, Materials and Waste Technology • Second quarter and first half year positively impacted by exchange rate mov
Slide 14: Free cash flow
Free cash flow • Cash flow from operating activities for the Q2 and First Half Year 2025 quarter was SEK 3.5 (0.8) million. Free cash flow was SEK –1.3 (–22.3) million • Cash flow from operating activities for the first half year was SEK 39.7 (–16.8) million • Higher operating profit and positive de
Slide 15: Financial targets and H1 2025 Performance
Financial targets and H1 2025 Performance FINANCIAL TARGET H1 2025 2024 Growth > 6% 3.7% 8.4% Operating margin > 12% 8.1% 3.0% Equity-to-asset ratio 40% 38.0% 37.8% Studsvik Interim Report Q2 2025 17
Slide 16: Small Modular Reactor, SMR market outlook
Small Modular Reactor, SMR market outlook Studsvik Interim Report Q2 2025 19
Slide 17: Small Modular Reactor, SMR market outlook
Small Modular Reactor, SMR market outlook SMRs provide flexible and affordable power generation • Growth of SMR interest thanks to: • SMRs supporting the rise of AI data centers across US and Europe • SMRs meeting the demand for more flexible power generation • Reduced lead time for SMR construction
Slide 18: Positive nuclear market developments supported by government decisions
Positive nuclear market developments supported by government decisions Sweden passed legislation to finance a new generation of nuclear reactors, key to energy security and achieving net zero emissions. UK government approved funding for UK based SMR vendors supporting new nuclear capacity. US execu
Slide 19: Global nuclear market statistics
Global nuclear market statistics SMRs could 30 countries contribute about considering or 25% moving forward with plans to of the added introduce nuclear capacity power into their energy mix Electricity By 2050, global consumed from nuclear capacity data centers is could increase by expected to TRIPL
Slide 20: Impactful innovations fueling growth
Impactful innovations fueling growth inDRUM facility in Sweden BlackStarTech aquisition New software innovations for fuel optimisation for the SMR market Studsvik Interim Report Q2 2025 23
Slide 21: Final comments
Final comments
Slide 22: Focus areas to reach financial targets
Focus areas to reach financial targets • Enhance Commercial Management • Capture Mid & Long-term Organic Growth Opportunities • Execute on M&A strategy • Drive growth from acquired companies, EBS and BlackStarTech • Be the preferred global employer wherever we are Studsvik Interim Report Q2 2025 25
Slide 23: Q2 2025 Summary
Q2 2025 Summary • Strong profits in the quarter • Driven by strong demand for FMWT services • Dynamic market underpinned by government decisions creating opportunities for Studsvik • The US Nuclear Regulatory Commission approved to review Studsvik’s fuel optimisation software for use by companies de
Slide 24: Forward-looking statements
This presentation may contain forward-looking statements. Such statements are based on our current expectations and are subject to certain risks and uncertainties that could negatively affect our business. Please read our most recent annual report for a better understanding of these risks and uncert
Slide 25: Thank You! Q&A
Thank You! Q&A A GS
Slide 26: Studsvik Interim Report Q2 2025
Studsvik Interim Report Q2 2025 29
Slide 27: Additional Slides
Additional Slides Studsvik Interim Report Q2 2025 30