Slide 1: Interim report First quarter of 2025
Interim report First quarter of 2025 Lars Bering, CEO Tilde Kejlhof, CFO Innovative 23 May 2025 solutions in plastics SP Group
Slide 2: Forward-looking statements
Forward-looking statements This presentation contains forward-looking statements reflecting SP Group’s current perception of future trends and financial performance. Statements relating to 2025 and the following years are inherently subject to uncertainty, and SP Group’s actual results may thus diff
Slide 3: At a glance
At a glance Global manufacturer of plastics solutions SP Group’s sales in Q1 2025 broken down by product group: Global footprint 31 factories Cleantech 2,410 9 Healthcare 27% 43% average number of different plastics employees technologies 71% customer-specific 29% own products Foodtech 11% solutions
Slide 4: Highlights
Highlights Solid growth in Q1 • Growth both in subsupplier orders and own products in line with expectations • Growth driven by Healthcare products following the signing of many new contracts in 2024 Tariffs and trade wars • Level of activity in the coming months subject to considerable uncertainty
Slide 5: Q1 2025
Q1 2025 Revenue EBITDA DKKm DKKm +8.8% 166 +12.0% 723 786 148 Q1 2024 Q1 2025 Q1 2024 Q1 2025 EBIT Sales of own products DKKm DKKm 117 226 +18.8% +10.2% 205 99 Q1 2024 Q1 2025 Q1 2024 Q1 2025 SP Group Q1 2025 – 23 May 2025 5
Slide 6: Q1 2025 profit before tax and earnings per share
Q1 2025 Profit before tax (EBT) grew by 19.2% Earnings per share, diluted grew by 19.0% DKKm 101 6.51 83 85 5.33 5.47 68 68 4.32 4.42 Q1 2021 Q1 2022 Q1 2023 Q1 2024 Q1 2025 Q1 2021 Q1 2022 Q1 2023 Q1 2024 Q1 2025 Net interest-bearing debt (NIBD) fell by DKK 57 million Equity grew by DKK 69 million
Slide 7: USA
USA • New Atlanta injection moulding factory commissioned • 14 injection moulding machines in operation • 40 employees • ISO 13485 certified • 1,000 sqm. Class 8 cleanroom • Strong growth opportunities for production for Healthcare SP Group Q1 2025 – 23 May 2025 7
Slide 8: Sales of own products driving higher growth
Sales of own products driving higher growth Own products include medical packaging, guide wires, farm Sales of own products ventilation, maritime products and ergonomic solutions DKKm +10.2% 226 210 205 164 144 Q1 2021 Q1 2022 Q1 2023 Q1 2024 Q1 2025 SP Group Q1 2025 – 23 May 2025 8
Slide 9: Sales to focus industries in Q1
Sales to focus industries in Q1 Healthcare 43% Cleantech 27% Foodtech 11% Other 19% • Medical devices • Renewable energy • Farm ventilation • Furniture • Medical packaging • Energy reduction • Measuring equipment • Specialist vehicles • Health and safety • Insulation products • Maritime products +13
Slide 10: Financial ratios
Financial ratios DKKm Q1 2025 Q1 2024 Growth in % 2024 Revenue 786 723 8.8% 2,922 EBITDA (EBITDA margin) 166 (21.1%) 148 (20.5%) 12.0% 589 (20.1%) EBIT (EBIT margin) 117 (14.9%) 99 (13.6%) 18.8% 386 (13.2%) Earnings before tax (EBT margin) 101 (12.8%) 85 (11.7%) 19.2% 345 (11.8%) Earnings per share
Slide 11: Revenue performance
Revenue performance DKKm 2,922 2,985 • 8.8% revenue growth 2,656 2,606 (relative to Q1 2024) 2,481 2,178 • Historically strong growth 2,013 driven by acquisitions 1,884 1,965 and organic growth 1,519 1,320 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 R12M Revenue for 2025 is stated on a rolling
Slide 12: EBITDA and EBITDA margin performance
EBITDA and EBITDA margin performance DKKm % 800 25 • 12% EBITDA growth EBITDA-margin in % (relative to Q1 2024) 700 EBITDA 589 606 600 20 • Mainly driven by increased 478 sales of our own products 500 423 441 and more efficient use of 15 400 356 production capacity 286 308 275 10 300 203 200 163 5 1
Slide 13: EBT and EBT margin performance
EBT and EBT margin performance DKKm % 500 12 • 19.2% EBT growth EBT-margin in % 11 (relative to Q1 2024) 10 400 EBT • Higher EBT mainly driven by 361 9 345 8 increased sales of own 300 258 269 7 products and more efficient use 6 of production capacity 200 194 201 5 200 176 175 4 123 3 100 81 2 1 0 0
Slide 14: Expectations for 2025 maintained
Expectations for 2025 maintained Revenue growth New products, new needs, new customers and growth reported by a number of existing customers 3-10% EBITDA margin Risk of continued geopolitical uncertainty and tariffs 19-21% EBT margin 11-13% SP Group Q1 2025 – 23 May 2025 14
Slide 15: Summary
Summary • Satisfactory Q1 performance with record revenue, EBITDA and EBT margins • Own products and subsupplier orders continue to drive the margin improvement • New US factory well underway • New share buy-back programme • Coming months marked by uncertainty due to customs, tariffs and geopolitics
Slide 16: Q&A session
Q&A session SP Group 16
Slide 17: Appendices
Appendices SP Group 17
Slide 18: Further information: Lars Bering CEO
Further information: Lars Bering CEO SP Group A/S Snavevej 6-10 5471 Søndersø Denmark Tel.: +45 7023 2379/ +45 4033 8850 E-mail: lb@sp-group.dk SP Group