Alligo Ab Class B · OMXSTO:ALLIGO_B
Alligo Ab Class B — Q2 2025 Earnings Presentation
36 slides from Alligo Ab Class B's earnings presentation, Jul 17, 2025
Slide 1: Interim report Q2 2025
Interim report Q2 2025 1 January – 30 June Thursday July 17, 2025 1
Slide 2: Agenda
AGENDA • This is Alligo • Highlights Q2 2025 • Update • Alligo’s scalable platform • Financials • Summary and outlook • Q&A
Slide 3: This is Alligo
This is Alligo 3
Slide 4: Alligo – a leading player in workwear, personal protection, tools and supplies in the Nordic region
Alligo – a leading player in workwear, personal protection, tools and supplies in the Nordic region 9,434 2,557 241 MSEK Revenue Employees Stores Revenue EBITA Revenue per geographic area R12 per geographic area R12 per brand category R12 42 12% 17% 61 stores 19% stores 14% 138 74% stores 26% 55% 83
Slide 5: An integrated business with a scalable platform = 80% of sales
An integrated business with a Non-integrated companies add scalable platform = 80% of sales strategic value = 20% of sales • Two strong concept Sales per channel 2025 YTD brands in three markets 46% 20% Stores (SME) Non- integrated Product Media Welding companies 13 profile/product 6 welding special
Slide 6: Acquisitions is an integral part of Alligo's growth strategy
Acquisitions is an integral part of Alligo’s growth strategy 2025 value creation so far: Completed acquisitions Stores Segments 2 (7) 28 (12) • Battery • Product Media Acquired growth Annual revenue Employees 8.8% (3.1) ≈288 MSEK (317) 93 (77) 6
Slide 7: Highlights Q2 2025
Highlights Q2 2025 7
Slide 8: Q2 2025 business conditions
Q2 2025 business conditions Market situation Proactive management Delivery capacity Macroeconomic factors • Challenging but • Driving sales • Good and stable in • Continued economic stable market Sweden and Finland uncertainty in the • Cost reductions business cycle - Weak demand in • Vestby perform
Slide 9: Q2 2025 in brief
Q2 2025 in brief – Everything is in place but the market remains weak Revenue Organic growth Operating cash flow Recovery in +1.6% Finland, Oil & Gas in Norway -4.3% Acquisition- driven growth of 9.7% 150 remains stable MSEK (270) Adjusted EBITA Adjusted EBITA margin Gross margin 1 less trading day,
Slide 10: Q2 2025 highlights
Q2 2025 highlights Sales Sustainability Operations • High sales focus in all • Alligo’s climate targets • Turnaround Tools FI countries approved by Science • Margin improvements NO Based Targets initiative • Growth initiatives • Assortment management • Collaboration with • Sales efficiency suppliers
Slide 11: Prioritised growth areas 2025 – applicable across all our markets
Prioritised growth areas 2025 – applicable across all our markets Services In-store sales Construction industry Own brands Develop further in Develop our store Establish a strong Expand our own brands services, conceptualise sales in line with best position in construction our offering practice with
Slide 12: Turnaround Project Tools Finland
Turnaround Project Tools Finland On-going actions Adjusted EBITA-margin • Profitability improvement that needs to be reached initiatives targeting larger in Finland* industrial customers • Review of store network 6-8% (2.9 H1) and product range – 2 stores Share of own brands YTD closed in H1 9% (SE
Slide 13: Update
Update • Alligo’s scalable platform 13
Slide 14: Building Alligo's scalable platform 2022–2025…
Building Alligo’s scalable platform 2022–2025… Completed projects: • Common strategy and core values • Nordic organisation • Simplified legal structure • Coordination of the logistics in SE & NO Continuous • Unified ERP and e-commerce platforms improvements • Common pricing system in daily • Harmoni
Slide 15: ...for future growth and profitability
...for future growth and profitability ERP & e-commerce platforms Harmonised Nordic standard range Store coordination • Unified ERP and • Supplier base reduced by 50 % • Stores that have been merged e-commerce platform ̶ Stronger partnerships, more or relocated since 2021: 35 • Standardized IT infra
Slide 16: Alligo's Nordic organization
Alligo’s Nordic organization 16
Slide 17: Alligo's integrated Nordic logistics function
Alligo’s integrated Nordic logistics function – Increased storage capacity, improved efficiency and logistical offer Skedsmokorset Fully relocated to Vestby Q1/2024 = Centres currently under relocation or previously relocated/discontinued Rosenholm Fully relocated to Vestby Q2/2024 Stavanger Kotka F
Slide 18: Financials
Financials 18
Slide 19: Acquisition driven growth counteracts weak organic sales
Acquisition driven growth counteracts weak organic sales – Slightly decreased contribution margin due to negative mix effects and margin pressure in NO Revenues and EBITA Highlights Q2 2025 2025 2024 2025 2024 • Revenue increased by 1.6% MSEK Apr-Jun ∆, % Apr-Jun Jan-Jun ∆, % Jan-Jun ̶ Organic growt
Slide 20: The decline in EBITA was primarily caused by weak sales
The decline in EBITA was primarily caused by weak sales – Results from acquisitions and cost savings counteract EBITA bridge Q2 2025 Highlights Q2 2025 166 • Weaker volumes and -1WD and 27 144 adverse mix effects explain the 27 decreased gross profit. -60 • Decreased other operating -11 -2 -3 income
Slide 21: Q2 - Increased share of own brands and SME in SE integrated business
Q2- Increased share of own brands and SME in SE integrated business – Flat development of the share of own brands in NO and FI integrated businesses Sweden Norway Finland SALES PER CHANNEL SALES PER CHANNEL SALES PER CHANNEL 27% (17) Non- 2% (2) Non- 28% (15) integrated 53% (56) Store 21% (26) integ
Slide 22: Improved contribution margin in Swedol due to increased share of SME
Improved contribution margin in Swedol due to increased share of SME – Continued challenges related to customer segment mix and general price pressure in Norway Sweden Norway Finland Standard assortment Own brands Mix Store channel/SME Group GM% +0.2 p.p Mix Customer segment mix Group GM% -0.3 p.p P
Slide 23: Sweden Norway Finland
Sweden Norway Finland MSEK MSEK MSEK 800 6 600 6 1 500 12 5 5 10 600 4 400 4 1 000 8 6 400 3 3 500 4 2 200 2 200 2 1 1 0 0 0 0 0 0 Q2 2023 Q2 2024 Q2 2025 Q2 2023 Q2 2024 Q2 2025 Q2 2023 Q2 2024 Q2 2025 Revenue, MSEK Non-integrated Revenue, MSEK Non-integrated Adj.EBITA% Revenue, MSEK Non-integrated
Slide 24: Operating cash flow in Q2 is lower than last year
Operating cash flow in Q2 is lower than last year – Lower EBITDA and inventory build-up of own brands Cash flow Highlights Q2 2025 2025 2024 2025 2024 • Lower cash flow from operating activities MSEK Apr-Jun ∆ Apr-Jun Jan-Jun ∆ Jan-Jun due to lower EBITDA, a net inventory Operating activities 150 -1
Slide 25: Temporary increased leverage
Temporary increased leverage – Higher acquisition pace and weaker EBITDA Overview of the financial position Highlights Q2 2025 30 Jun 30 Jun 31 Dec • Ratio of net operational liabilities MSEK 2025 2024 2024 to EBITDA (excl. IFRS 16) of 3.2 Non-current interest 3,230 2,965 3,121 bearing liabilities •
Slide 26: Summary & outlook
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Slide 27: Q2 2025 in summary
Q2 2025 in summary • Continued weak economy, but stable markets across all countries • High sales activity in all markets • Alligo’s climate targets approved by Science Based Targets initiative ̶ Supplier collaboration key to reducing emissions in our value chain • Continued cost-cautiousness 27
Slide 28: Outlook 2025
Outlook 2025 • Improved market sentiment, but customers remain cautious • Positioned to leverage volume growth and reach financial targets • Strong offering through high-quality own brands, services, store network, and logistics capability • Sales remain the top strategic priority for 2025 28
Slide 29: Q&A
Q&A 29
Slide 30: Appendix
Appendix 30
Slide 31: YTD - Increased share of own brands and SME in SE integrated business
YTD - Increased share of own brands and SME in SE integrated business – Flat development of the share of own brands in NO and FI integrated businesses Sweden Norway Finland SALES PER CHANNEL SALES PER CHANNEL SALES PER CHANNEL 26% (16) Non- 2% (2) Non- 26% (15) integrated 53% (56) Store 21% (23) int
Slide 32: Sweden Norway Finland
Sweden Norway Finland MSEK MSEK MSEK 1 500 6 1 000 6 3 000 12 5 800 5 2 500 10 1 000 4 4 2 000 8 600 1 500 6 3 3 400 1 000 4 500 2 2 500 2 1 200 1 0 0 0 0 0 0 YTD 2023 YTD 2024 YTD 2025 YTD 2023 YTD 2024 YTD 2025 YTD 2023 YTD 2024 YTD 2025 Revenue, MSEK Non-integrated Revenue, MSEK Non-integrated Ad
Slide 33: Performance in 2024 in relation to financial targets
Performance in 2024 in relation to financial targets 33
Slide 34: Performance in 2024 in relation to sustainability targets
Performance in 2024 in relation to sustainability targets 34
Slide 35: Five reasons to invest in Alligo
Five reasons to invest in Alligo 1 2 3 4 5 Market Scalable Own brands Sustainable Leader in the growth and platform a increase enterprise consolidation resilient foundation competitiveness an integrated process on customer for continued and part of the the Nordic segments growth profitability busine
Slide 36: Read more at alligo.com/en/report/q2-2025
Read more at alligo.com/en/report/q2-2025