Slide 1: Midsona Interim Report Quarter 3, 2025
Midsona Interim Report Quarter 3, 2025
Slide 2: Forward-looking statements
This presentation may contain forward-looking statements. Such statements are based on current expectations and are subject to risks and uncertainties that could negatively affect our business. Please refer to our 2024 annual and sustainability report for a better understanding of these risks and un
Slide 3: This is Midsona: mission, vision and divisions
THIS IS MIDSONA MIDSONA’S MISSION, VISION AND DIVISIONS Mission: We provide healthy food for people and planet. Most of our products are plant- based or vegetarian and many are natural and organic. Vision: European leader in healthy and sustainable food. We are organized in 3 divisions with 713 Net
Slide 4: Q3 2025 summary and financial highlights
Q3 2025 summary and financial highlights Summary Financial highlights • Strengthened gross margin, improved efficiency and Net sales EBIT2 EBIT2 margin good cost control driving material EBIT-margin improvement SEK 895 m SEK 45 m 5.0% (SEK 919 m) (SEK 32 m) (3.5%) • Gross margin improvement from bet
Slide 5: First 9 months 2025 summary and financial highlights
First 9 months 2025 summary and financial highlights Summary Financial highlights • Slight net sales decline Net sales EBIT2 EBIT2 margin • Own Organic brands and Private Label contributing positively SEK 2 697m SEK 86 m 3.2% • Negatively impacted by the change of business (SEK 2 766 m) (SEK 92 m) (
Slide 6: Division highlights Q3
Division highlights Q3 Division Nordics ● Weak organic sales development, driven by discontinuation of two Licensed brands as well as remaining effect from change of business model for a Health Foods brand 2025 2024 vs PY ● Own organic brands in healthy growth of 9.0%1 showing that product and brand
Slide 7: Portfolio highlights Q3
Portfolio highlights Q3 Organic products ● Good organic growth of 7.8%1 ● Own organic brand portfolio with continued improved trajectory now growing 8,2%1 showing that actions to develop the assortment and brands are paying off with 57% consumers and customers ● Continued good growth for private lab
Slide 8: Gross margin (GM) management Q3
Gross margin (GM) management Q3 GM1 (vs YA) Status • Continued slightly negative category mix with lower sales of Consumer Health and Health Foods Nordics • Good product mix and price management supporting gross margin growth despite a slight negative efficiency impact • Private label mix improvemen
Slide 9: Fire in Castellcir plant in Spain (Division South)
Fire in Castellcir plant in Spain (Division South) Early morning July 7 a fire erupted in the plant in Spanish Castellcir, part of Division South ▪ Through swift action by our staff and local fire authorities the fire was contained to part of the plant and most importantly no one was hurt ▪ The fire
Slide 10: Launch of restructuring program to accelerate margin improvement
Launch of restructuring program to accelerate margin improvement Positive margin improvement in the third quarter but our ambitions are considerably higher ▪ Continued profitable growth and strengthened gross margin obviously a key driver to achieve the targeted profitability improvement ▪ But, opti
Slide 11: Short term priorities
Short term priorities Successful implementation of the restructuring program to support margin growth Leverage growth momentum on own Organic brands to support margin improvement and as a platform for growth in Health Foods and Consumer Health Stabilize operation in Spain and execute action plan for
Slide 12: Financial review CFO Max Bokander
Financial review CFO Max Bokander
Slide 13: Financial Summary
Financial Summary Comments QTD MSEK Q3 2025 Q3 2024 YTD 2025 YTD 2024 • Net Sales -2.6% vs LY Net Sales 895 919 2 697 2 766 1 GM% 28,7% 28,0% 28,5% 28,6% • GM% improved with 0.7 p.p., mainly from positive 1 EBIT 45 32 86 92 mix EBIT%1 5,0% 3,5% 3,2% 3,3% IAC -45 0 -69 0 • EBIT +13m from favorable mi
Slide 14: Q3 Net Sales
Q3 Net Sales MSEK Net Sales change Organic growth2 by brand type 940 930 % of NS 920 919 Own Brands - consumer 0,7% 62% 910 900 Own Brand - B2B -14,7% 6% -21 895 -3 890 -2.2% -0.4% 880 Private Label 10,5% 22% 870 860 Licensed Brands -16,2% 10% - 24 (-2.6%) 850 2024 Structure 1 FX Organic 2 2025 1) I
Slide 15: Q3 EBIT
Q3 EBIT1 SEK million SEK million EBIT1 change EBIT1 trend 50 50 4,0% 2 45 45 45 6 45 3,5% 0 40 40 6 3,0% 35 35 32 5.0% 32 2,5% 30 -1 30 GM Organic 25 decline +0.7 p.p. 25 2,0% 3.5% -0.4% 20 20 18 1,5% 15 15 1,0% 10 10 0,5% 5 5 +13 (+1.5 p.p.) 0 0 0,0% 2 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 202
Slide 16: Q3 Cash Flow from operating activities
Q3 Cash Flow from operating activities SEK million SEK million QTD Cash flow1 breakdown Cash flow1 trend 80 13 180 400 70 69 160 60 -8 350 50 40 48 140 -19 Depreciation 10 300 40 120 Amortization 12 30 100 Write offs 44 87 250 20 (equipment spain) 80 10 Other 3 200 0 -40 60 48 42 40 150 -10 -7 Net W
Slide 17: Available cash and Net Debt
Available cash and Net Debt SEK million Available Cash 1 SEK million Net Debt and X 700 20% 800 3,3 Net Debt / adj. EBITDA 2,3 3,5 651 656 634 633 626 628 18% 18% 600 700 575 575 3,0 15% 16% 678 507 600 500 13% 14% 2,5 543 525 12% 500 496 501 400 1,9 451 447 2,0 433 10% 407 1,6 400 300 8% 1,5 300 52
Slide 18: Q&A
Q&A