Studsvik Ab · OMXSTO:SVIK
Studsvik Ab — Q1 2026 Earnings Presentation
32 slides from Studsvik Ab's earnings presentation, Apr 23, 2026
Slide 1: Studsvik Group Interim Report Q1 2026
Studsvik Group Interim Report Q1 2026 Karl Thedéen, President and CEO Peter Teske, CFO April 23, 2026
Slide 2: Karl Thedéen, President and CEO
Karl Thedéen President and CEO Studsvik Interim Report Q1 2026
Slide 3: Studsvik Group
Studsvik Group Empowering the nuclear industry with solutions from new build through life extensions to decommissioning NET SALES GLOBAL SALES IN MORE THAN LOCAL OFFICES IN 883 MILLION SEK 2025 15+COUNTRIES 500 EMPLOYEES WORLDWIDE 6 COUNTRIES IN ALL REGIONS Studsvik Interim Report Q1 2026
Slide 4: Key offerings
Key offerings Providing services to the nuclear industry through the entire lifecycle, from new build to final disposal NEW BUILD LONG-TERM OPERATION • Fuel and materials testing • Fuel and materials testing • Waste planning for licensing • Planned outage and maintenance • Fuel planning (Software) •
Slide 5: Business Areas
Business Areas DECOMMISSIONING & RADIATION PROTECTION 38% 37% of total net sales 2025 of total net sales Q1 2026 SERVICES FUEL, MATERIAL & 44% 42% WASTE TECHNOLOGY of total net sales 2025 of total net sales Q1 2026 STUDSVIK SCANDPOWER 18% 21% of total net sales 2025 of total net sales 2025 Studsvik
Slide 6: A stable financial quarter with continued investments for the future
• Sales in the quarter amounted to SEK 226.4 A stable financial quarter with continued (227.0) million. In local currencies this is an investments for the future increase of 4.1 per cent • Studsvik Scandpower grew by 16.6 per cent in local currencies Quarter Jan-Dec • Operating profit decreased in t
Slide 7: Key milestones in Q1 2026
Key milestones in Q1 2026 • Studsvik aquires Kärnfull Next AB, a Swedish project developer for new small modular reactors (SMRs) o Kärnfull Next submitted an application for the establishment of an SMR park in Valdemarsvik, Sweden. This is the first application for new nuclear power at a new site in
Slide 8: Studsvik acquires Kärnfull Next AB, a project developer for new SMRs in Sweden
Studsvik aquires Kärnfull Next AB, a project developer for new SMRs in Sweden Strategic step to develop Studsvik’s competence around new build, moving Studsvik into the forefront of the SMR market segment in Sweden and overseas Studsvik Interim Report Q1 2026
Slide 9: Kärnfull Next acquisition
Kärnfull Next acquisition Kärnfull Next brings: Founders joining Studsvik's executive team: • SMR project development expertise • Vendor relationships across the SMR Christian Sjölander market CEO & Founder of Kärnfull Next • Investor relationships for new build • Regulatory and policy expertise • L
Slide 10: First SMR application under new legislation submitted by Kärnfull Next
First SMR application under new legislation submitted by Kärnfull Next, following acquisition announcement • The application covers a planned SMR campus in Valdemarsvik, Sweden • The new approval process enables earlier government involvement to improve predictability and speed • Submission marks a
Slide 11: Business Areas
Business Areas • Decommissioning & Radiation Protection Services • Fuel, Materials & Waste Technology • Studsvik Scandpower
Slide 12: Decommissioning & Radiation Protection Services
Decommissioning & Radiation Protection Services Offers the entire chain from planning and project management to radiological assessments, radiological clearance of material and waste documentation • The Business Area's operating margin more than doubled, 4.4 (2.1) per cent, thanks to: o Increased fo
Slide 13: Fuel, Material & Waste Technology
Fuel, Material & Waste Technology Services in nuclear fuel qualification, analysis of material, research on final disposal, including waste management solutions • High order backlog and demand for our services • Two MoU's signed during the quarter: o RollsRoyce SMR, with the aim of exploring an expa
Slide 14: Studsvik Scandpower
Studsvik Scandpower World-leader in development and support of software for reactor fuel analysis independent of fuel suppliers • Business developed positively thanks to high demand in our project and engineering services • BlackStarTech sales increased during the quarter, with deliveries to the nuc
Slide 15: Peter Teske, Chief Financial Officer
Peter Teske Chief Financial Officer Studsvik Interim Report Q1 2026
Slide 16: Business Area financial results: Decommissioning & Radiation Protection Services
Business Area financial results Decommissioning & Radiation Protection Services Decommissioning and Quarter Jan-Dec Radiation Protection Services Q1 2026 Q1 2025 2025 Sales, SEK million Operating profit, 84.1 3.7 86.3 1.8 342.2 5.9 37% of total revenues Q1 2026 SEK million Operating profit 4.4 2.1 1
Slide 17: Business Area financial results: Fuel, Materials & Waste Technology
Business Area financial results Fuel, Materials & Waste Technology Fuel, Materials and Waste Quarter Jan-Dec Technology Q1 2026 Q1 2025 2025 Sales, SEK million 96.7 97.7 390.7 Operating profit, SEK million 12.3 14.3 62.9 42% of total revenues Q1 2026 Operating profit 12.8 14.6 16.1 margin, % • Sales
Slide 18: Business Area financial results: Studsvik Scandpower
Business Area financial results Studsvik Scandpower Quarter Jan-Dec Studsvik Scandpower Q1 2026 Q1 2025 2025 Sales, SEK million Operating profit, 49.5 8.5 46.2 11.3 164.5 29.6 21% of total revenues Q1 2026 SEK million Operating profit 17.3 24.4 18.0 margin, % • Sales in the quarter amounted SEK 49.5
Slide 19: Net Sales Q1 2026
• Sales in the quarter amounted to SEK Net Sales 226.4 (227.0) million Q1 2026 • In local currencies this is an increase of 4.1 per cent • The increase in sales is thanks to: • Higher sales in the Business Areas Decommissioning & Radiation Protection Services and Studsvik Scandpower • Sales decrease
Slide 20: Operating profit Q1 2026
Operating profit • Operating profit decreased in the quarter Q1 2026 to SEK 12.3 (19.5) million • The lower profit is explained by • Positive remeasurement of balance sheet items in 2025 • Strategic initiatives and acquisition-related costs • Foreign exchange effects had a limited impact on profit a
Slide 21: Free cash flow Q1 2026
Free cash flow • Cash flow from operating activities for the Q1 2026 quarter was SEK -6.3 (36.2) million • Free cash flow for the quarter was SEK – 12.5 (39.6) million • The lower cash flow is due to accrual effects, with advance payments received in Q4, 2025 • In the quarter the Group amortised SEK
Slide 22: The External Market
The External Market Studsvik
Slide 23: The Nuclear market
The Nuclear market THE WORLD SWEDEN • Nuclear positioned as critical for stable, fossil-free • Moving into execution phase of new nuclear build baseload in high-demand future grids • First application of new deployment in 50 years • SMRs gaining traction as the most flexible and • The state is takin
Slide 24: SMR market outlook
SMR market outlook • Strong policy momentum ▪ EU launched a strategy to get first SMRs online early 2030s and is pushing for rapid deployment • Major investments and projects ▪ UK funding new SMRs with Rolls-Royce, with their Nordic and EU projects advancing, and joint safety reviews across multiple
Slide 25: Studsvik Interim Report Q4 2025
Studsvik Interim Report Q4 2025
Slide 26: Final remarks
Final remarks
Slide 27: Final remarks
Final remarks A stable quarter with continued investments for the future • Solid quarter from all three Business Areas • Expanding into nuclear project development with Kärnfull Next acquisition o Strengthening our position within New Build and SMR markets • Nuclear Energy Summit in Paris o European
Slide 28: Strategy
Strategy STRATEGY FINANCIAL TARGETS PREFERRED NUCLEAR SOLUTIONS PARTNER Environment Investors MARKET EXPANSION PRODUCTS, SERVICES AND M&A AND PORTFOLIO INNOVATION MANAGEMENT • Expand US market presence • Increase business with • Create more scalable, product • Enhance and expand hot cell AMR/SMR dri
Slide 29: Studsvik site 2035 - vision
Studsvik site 2035 - vision InDRUM-facility Hot-Cell Studsvik Data Fusion Test Facility Center Nordic Isotope Center And Test Reactor Small Modular Reactors (SMR) Studsvik Interim Report Q1 2026
Slide 30: Thank you Q/A
Thank you Q/A Karl Thedéen, President and CEO Peter Teske, CFO April 23, 2026
Slide 31: This presentation may contain 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 32: Studsvik Interim Report Q1 2026
Studsvik Interim Report Q1 2026