Beijer Alma Ab Class B · OMXSTO:BEIA_B
Beijer Alma Ab Class B — Q4 2025 Earnings Presentation
24 slides from Beijer Alma Ab Class B's earnings presentation, Feb 6, 2026
Slide 1: Year End Report Q4 2025
BEIJERe ALMA YEAR END REPORT Q4 2025
Slide 2: Today's presenters
Today’s presenters Johnny Alvarsson • acting President and CEO Peter Forslund • CFO
Slide 3: Agenda
Agenda 1 Highlights from Q4 2025 2 Financial performance 3 Acquisitions 4 Beijer Alma going forward – strategic update 5 Q&A
Slide 4: Highlights from Q4 2025
Highlights from Q4 2025 Standard license- medical/surgical robot. Constant Force Springs from John Evans' Sons
Slide 5: Beijer Alma acquires and develops industrial companies
Beijer Alma acquires and develops industrial companies with leading positions in growing niches A growing, decentralized group of ~70 entities …leveraging a wide geographic footprint Beijer Alma Group • 19 countries Lesjöfors Beijer Tech • 3 continents Industrial Fluid Niche Industry Chassis Springs
Slide 6: Highlights of the quarter: Adj. EBITA and capital efficiency
Highlights of the quarter Q4 2025 Stable Q4 closes out a good 2025 Adj. EBITA (MSEK, %) Capital efficiency1) (%) 2023 2024 2025 2024 2025 +16% 305 299 282 281 46% 259 261 269 236 245 230 242 45% 194 15.8% 43% 43% 43% 15.3% 43% 15.1% 42% 14.6% 14.4% 13.7% 41% 13.0% 14.4% 14.9% 11.5% 14.3% 13.3% Q1 Q2
Slide 7: Highlights of the quarter: Net revenue
Highlights of the quarter Q4 2025 Organic growth in an environment with currency headwind Net revenue (MSEK) 2023 2024 2025 +3% 1,819 1,812 1,885 1,823 1,960 2,023 1,886 1,881 1,693 1,676 1,694 1,683 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2% -6% 7% 1,881 1,823 Q4 24 Acquisitions Organic Currency Q4 25
Slide 8: Lesjöfors
Lesjöfors Q4 2025 Mixed demand, no change in overall industrial cycle Net revenue (MSEK) Industry Chassis springs • Chassi springs continues to perform on a good level 2023 2024 2025 • Demand in Chassi springs seasonally lower in 1,317 1,268 1,270 1,324 1,317 Q4 1,195 1,197 1,200 1,236 279 1,128 1,1
Slide 9: Beijer Tech
Beijer Tech Q4 2025 Strong quarter with two acquisitions and organic growth Net revenue (MSEK) Industrial Products Fluid Technology Niche Technologies • Industrial products sees slightly cautious industrial demand 2023 2024 2025 • Fluid products with solid growth. Cyclical 761 demand for fire safety
Slide 10: Financial performance
Financial performance Q4 2025 & Full year 2025 Standard license- medical/surgical robot. Constant Force Springs from John Evans' Sons
Slide 11: Key ratios
Key ratios Q4 2025, Full year 2025 Full year Full year Q4 2025 Q4 2024 Change Change 2025 2024 Net revenue, MSEK 1,881 1,823 3% 7,750 7,203 8% Order bookings, MSEK 1,894 1,874 1% 7,770 7,290 7% Adjusted EBITA, MSEK 281 242 16% 1,166 1,002 16% Adjusted EBITA, % 14.9% 13.3% 15.0% 13.9% Capital efficie
Slide 12: Financial results
Financial results Q4 2025 Net revenue & Adj. EBITA margin Net revenue, MSEK Adjusted EBITA margin, % • Overall, a stabile performance in the quarter 2023 2024 2025 • Positive mix in Lesjöfors, Chassi with a good development 1,885 1,960 2,023 1,886 • Lesjöfors action-plan measures have top-line 1,819
Slide 13: Cash flow
Cash flow Q4 2025 Cash flow Capital efficiency Cash flow from operating activities, MSEK Working capital, MSEK Capital efficiency, % 2023 2024 2025 2024 2025 366 2,380 2,461 2,522 2,540 336 343 2,286 2,267 2,254 2,321 299 238 235 212 212 222 43% 43% 43% 45% 46% 41% 43% 42% 44 52 15 Q1 Q2 Q3 Q4 Q1 Q2
Slide 14: Financial position
Financial position Q4 2025 Net debt Net debt/Equity ratio Net debt, MSEK Net debt/Equity ratio, % Net debt / Adjusted EBITDA, multiple 2023 2024 2025 2023 2024 2025 2,825 2,516 2,585 2,496 2,477 67% 2,288 2,307 2,367 2,255 2,334 59% 66% 2,136 58% 57% 56% 55% 1,985 60% 51% 56% 52% 51% 2.2x 1.9x 2.1x
Slide 15: Full year performance per division
Full year performance per division 2025 Net revenue (MSEK) Key metrics (MSEK, %) Comments 4,996 Key metrics 2024 2025 Change • Net revenue increase despite 4,030 967 effect from currency -4% Net revenue 4,895 4,996 2% Lesjöfors • Solid organic growth at 3% for Adjusted EBITA 777 883 14% full year •
Slide 16: Acquisitions
Acquisitions 2025 Standard license- medical/surgical robot. Constant Force Springs from John Evans' Sons
Slide 17: Consistent M&A execution with acquisitions since 2010
Consistent M&A execution with 50 acquisitions since 2010 Keeping a high pace in acquisitions Number of acquired companies per year # of acquisitions 6 5 5 5 5 5 4 3 2 2 2 2 2 1 1 0 Swemas AB sheet metal workshop, a Acquired revenue, 2010-2025 large rolled cylinder MSEK being welded and 708 ground on
Slide 18: Maintaining strong momentum with acquisitions in 2025
Maintaining strong momentum with 6 acquisitions adding SEK 600M+ in 2025, with average EBIT margins >15% Six companies were acquired in 2025 Company Country Division & Business area Net revenue # Employees Closed Beijer Tech Intercut Sverige AB ~150 MSEK 17 Q4 25 Industrial Products Beijer Tech Ewon
Slide 19: Beijer Alma going forward
Beijer Alma going forward Strategic update Standard license- medical/surgical robot. Constant Force Springs from John Evans' Sons
Slide 20: We target sustainable growth
We target sustainable growth EBITA growth Capital efficiency supporting ~10-12% acquired >15% >50% self-financed + acquisitions ~3-5% organic to drive EBITA per year EBITA / Working capital growth Operational improvement and acquisitions Disciplined capital allocation • Prioritization of well-consid
Slide 21: Continuing to drive long-term capital-efficient growth
Continuing to drive long-term capital-efficient growth Building on our historical development to drive growth Beijer per year Alma adjusted EBITA development Acquisition focus >2x B2B +1.8x B2B Industry & tech Right price +1.1x Organic growth initiatives 2015 2020 2020 2025 2025 2030 EBITA CAGR, % 3
Slide 22: Leveraging our existing global footprint
Leveraging our existing global footprint to source more attractive opportunities Local market organizations already in place Current footprint by division Lesjöfors Beijer Tech Advantages in acquisitions Enables relationship- Access to more 1 NORTH AMERICA based sourcing proprietary deals 2 Provides
Slide 23: Summary
Summary ▪ Industrial demand moving sideways ▪ Improved profitability in 2025 ▪ New financial targets announced ▪ Start of a journey, building on a solid foundation Standard license- medical/surgical robot. Constant Force Springs from John Evans' Sons
Slide 24: Q&A
Q&A Standard license- medical/surgical robot. Constant Force Springs from John Evans' Sons