Slide 1: Q1 2025
Q1 2025 24 April 2025 Linda Pålsson, President & CEO Bo Sandström, CFO
Slide 2: Q1 highlights
Q1 highlights Net sales Results underline need for structural measures 6,749 SEK million — Total growth of -2.1% and -0.9% adj. organic (6,891) — Sales decline in Industrial & Digital Solutions and Process Industries partly offset by strong growth in Energy EBITA excl. IAC — Order backlog sequential
Slide 3: Market update
Market update INDUSTRIAL SECTOR ENERGY SECTOR INFRASTRUCTURE SECTOR — Mixed market with uncertainty — Continued strong demand — Stable demand for transport in some segments across segments and regions and industrial infrastructure — Growing demand in defence — Transmission and distribution — Real es
Slide 4: Division overview
Q1 2025 Division overview Infrastructure Industrial & Digital Solutions Process Industries — Growth driven by higher — Challenging market in parts of — Sales and EBITA impacted by average fees and attendance portfolio with remaining low demand in pulp & paper rates in the quarter uncertainty — Signs
Slide 5: New client projects
Q1 2025 New client projects Automated factory for forest Offshore wind farm in Tram-Treno tunnel in plant production in Sweden Estonia Switzerland AFRY has si gned an agreement wi th SweTree AFRY will deliver front -end engineering services for AFRY has won a contract for the design of the Technol o
Slide 6: Financial Summary
Financial Summ Lae Le Fi . YF i a its na Fe: - 4
Slide 7: Financial overview
AFRY Q1 2025 Financial overview Net Sales, quarterly and R12, SEK million EBITA excl. IAC, quarterly and R12, SEK million 26,954 27,018 2,103 2,012 24,798 1,933 689 6,916 6,891 6,749 590 490 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25
Slide 8: Net sales
AFRY Q1 2025 Net sales Net Sales, SEK million Comments — Higher average fees partly compensated for lower volumes -0.9% -2.1% 6,891 — Negative calendar effect of 4 hours, corresponding to SEK -46 million on -59 6,832 net sales (-0.7%) -46 -37 6,749 0 — Negative FX effect due to SEK appreciation in t
Slide 9: Growth development
AFRY Q1 2025 Growth development Adjusted organic growth by division, % Infrastructure 3.2 1.7 Group adjusted organic growth, YoY, % Q4 2024 Q1 2025 2.2 Industrial & 2.6 Digital Solutions -3.1 Q4 2024 Q1 2025 0.5 Process 0.1 Industries -5.1 -0.2 -9.6 Q4 2024 Q1 2025 -0.9 Q1 2024 Q2 2024 Q3 2024 Q4 20
Slide 10: Order backlog
AFRY Q1 2025 Order backlog Order backlog by division, % 8.7 8.4 Infrastructure Group order backlog, SEK billion Q1 2024 Q1 2025 -0.9% 20.4 Industrial & 19.9 19.7 20.1 20.2 Digital Solutions 2.8 3.1 Q1 2024 Q1 2025 Process Industries 3.1 3.1 Q1 2024 Q1 2025 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 5.3
Slide 11: EBITA development
AFRY Q1 2025 EBITA development EBITA margin excl. IAC by division, % Infrastructure 8.1 8.6 Group EBITA excl. IAC, SEK million Q1 2024 Q1 2025 -63 590 -37 553 Industrial & 9.2 7.0 490 Digital Solutions Q1 2024 Q1 2025 Process 10.4 7.8 Industries Q1 2024 Q1 2025 Q1 2024 Calendar effect Cal. Adj. Q1 2
Slide 12: Cash flow and financial position
AFRY Q1 2025 Cash flow and financial position Operating cash flow, SEK million Available liquidity, SEK billion +9 -0.3 1,304 4.6 4.2 3.9 3.8 3.7 420 108 162 117 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Net debt excl. IFRS16, SEK billion Net debt/EBITDA excl. I
Slide 13: AFRY's next chapter
AFRY’s next chapter
Slide 14: AFRY makes changes to its Group structure to accelerate profitable growth
THE NEXT CHAPTER AFRY makes changes to its Group structure to accelerate profitable growth Focus AFRY’s Enhance Fit-for-purpose core business client value operational structure — Portfolio review and operating model evaluation is ongoing — Portfolio review reveals untapped potential related to AFRY’
Slide 15: AFRY makes changes to its Group structure to accelerate profitable growth
THE NEXT CHAPTER AFRY makes changes to its Group structure to accelerate profitable growth Current Divisions Global Energy Industry Transportation & Places Divisions Process Industries Hydro Pulp & Paper Road & Rail Nuclear Mining & Metals Public & Commercial Places Thermal Life Science Energy Segme
Slide 16: AFRY announces changes to its Executive Team, effective as of 24 April 2025
THE NEXT CHAPTER AFRY announces changes to its Executive Team, effective as of 24 April 2025 Bo Sandström Elon Hägg Nicholas Oksanen Robert Larsson EVP and CFO EVP Global EVP Global EVP Global Division Division Energy Division Industry Transportation & Places Linda Pålsson CEO and President Henrik T
Slide 17: Slide 17