C.a.g Group Ab · OMXSTO:CAG
C.a.g Group Ab — Q3 2025 Earnings Presentation
15 slides from C.a.g Group Ab's earnings presentation, Oct 22, 2025
Slide 1: CAG Q3, July – September 2025
CAG Q3, July – September 2025 We accelerate digital innovation for people . Leading technology . Lasting impact
Slide 2: Key Take-Aways from Q3
2025 -10-21 Key Take -Aways from Q3 • Strong position in Defence segment • Continued positive utilization and price trend • Good growth in IT Service Operations • CAG on Great Place To Work’s European Top 30 -list • Steady flow of new business. Many important contract extensions • Technical testing
Slide 3: CAG at a glance
CAG 2025 -10-21 2005 Founded 420 Employees Krokom 56 Employee Satisfaction , eNPS Enköping Oslo 9 i ndepe ndent subsidiaries in Technology Consultancy Services and IT Service Karlstad Uppsala Operations Stockholm Listed on Nasdaq First North Premier Borås Linköping DNB Carnegie Investment Bank Certi
Slide 4: What We Do
What We Do Technology System Cyber Security IT Service Training Operations Management Development
Slide 5: Consistent Growth and Profitability
Consistent Growth and Profitability CAGR 12% Total Revenue, MSEK Adjusted EBITA, % and MSEK 894 82,2 872 73,1 800 75,0 653 9,2 % 52,2 9,1% 39,7 44,7 533 33,0 39,8 489 488 395 8,6 % 8,4 % 8,0 % 8,1% 8,1% 8,0 % 2017 2018 2019 2020 2021 2022 2023 2024 2017 2018 2019 2020 2021 2022 2023 2024 400 >20% >5
Slide 6: Focused Customer Segments
Focused Customer Segments (figures per Q325) Other 9% Defence Industry Industry & 7% Infrastructure 3% • ~300 active customers Retail & Services • Defence segment, 35 (33) percent of revenue 13% Defence Agencies • Largest customer , 20 (21) percent of revenue 28% • Recurring revenue , >20 percent •
Slide 7: Solid Customer Base
Solid Customer Base G FORSVARSMAKTEN & S|EB id NORWEGIAN DEFENCE (3) MATERIEL AGENCY SAAB WEIBEL DOPPLER RADARS Handelsbanken A? alecta 1 yY EE iinstorsskrinear AP3 Tredje AP-fonden Lansforsakringar SVENSKA @ | ove = KRAFTNAT ANIA AvANzAII| WP Nexdtethiessen (Cumepie) Loe oge SYKEHUSAPOTEKENE SIL pe
Slide 8: Frame Agreements and Assignments
Frame Agreements and Assignments • Frame Agreement and team undertaking, Systems Life Cycle Management, Tobii Dynavox • Frame Agreement and data engineering assignment, leading Nordic Care provider • Defence : Försvarsmakten, FMV ( e.g ., FMN, telecoms ), BAE Systems Hägglunds, SAAB, Kongsberg • Ban
Slide 9: July – September 2025
July – September 2025 • Revenue 177.4 (182.4) MSEK, - 2.7 %, excl subcontractors -3.1 % • Adj EBITA margin 7.0 % (7.1); Adj EBITA 12.3 (12.9) MSEK • Cash flow from operations -6.1 (12.7) MSEK • After -tax profit 7.9 (7.1 ) MSEK • Profit per share 1.10 (0.99) SEK • Average number of employees 399 (44
Slide 10: January – September 2025
January – September 2025 • Revenue 621.5 (640.5) MSEK, - 3.0 %, excl subcontractors -1.7 % • Adj EBITA margin 8.5 % (8.3), adj EBITA 53.0 (53.3) MSEK • Cash flow from operations 38.5 (52.1) MSEK • After -tax profit 33.5 (33.8) MSEK • Profit per share after dilution 4.67 (4.71) SEK • Avg number of em
Slide 11: Revenue, Adj EBITA, R12 2023-2025
CAG 2025 -10-21 Revenue, Adj EBITA, R12 2023 -2025 Revenue per Quarter and R12, MSEK Adjusted EBITA per Quarter and R12, MSEK 300,0 1 000,0 880,9 892,4 853,0 900,0 30,0 83,0 90,0 250,0 79,1 800,0 74,8 80,0 25,0 700,0 70,0 200,0 600,0 20,0 60,0 150,0 500,0 50,0 15,0 400,0 40,0 100,0 10,0 30,0 300,0 2
Slide 12: Solid Financial Position Enables M&A
Solid Financial Position Enables M&A Financial Position (KSEK) Sept 30, 2025 Sept 30, 2024 Cash at end - of - period 83 848 90 455 Utilized credit facility (checkkredit) - - Net Debt */Equity: - 0.2 Long term debt , interest - bearing - -14 000 Long term debt , leasing -7 866 -13 031 Net Debt */EBIT
Slide 13: Outlook 2025-2026
Outlook 2025 -2026 • Solid demand in Defence • Recovering general market activity in 2026 • Q4 2025 has same no of working days as 2024. FY2025 249 days , -0.8 percent (FY2024 251) • FY2026 251 days , +0.8 percent : +1 in Q2, +1 in Q4 • Inbound M&A activity better than 2024
Slide 14: Thank You! Questions?
CAG 2025 -10-21 Thank You ! Questions ? Åsa Landén Ericsson, CEO CAG Group Asa.landen@cag.se
Slide 15: CAG
CAG 2025 -10-21