B3 Consulting Group Ab · OMXSTO:B3
B3 Consulting Group Ab — Q3 2025 Earnings Presentation
22 slides from B3 Consulting Group Ab's earnings presentation, October 2025
Slide 1: B3 Consulting Group Q3 presentation 2025
Slide 2: Katarina Lundqvist Head of Communications & IR
• Katarina Lundqvist • Head of Communications & IR Martin Stenström Katarina Lundqvist CEO Head of Communications & IR
Slide 3: Daniel Juhlin has been appointed new CEO of B3
Daniel Juhlin has been appointed new CEO of B3 Experienced leader in consulting, retail, and digital transformation, joining B3 as CEO in 2026. • Daniel Juhlin will succeed Martin Stenström as CEO on February 1, 2026. • He is an experienced leader with a background in management consulting, retail,
Slide 4: B3's vision and values
B3’s vision and values Building an award-winning culture together B3’s vision Experiences Is to be the market’s best Competence and continuous consulting company - for our learning are important for employees, clients, and building trust and confidence shareholders. among customers and employees Ene
Slide 5: Highlights in Q3 2025
Highlights in Q3 2025 3.9% growth, 5.0% EBITDA, stronger recruitment focus going forward • Revenue 254.9 (245.4) MSEK, 3.9% growth - organic growth incl. Poland -3,4% • EBITDA 12.8 (10.6) MSEK, EBITDA margin 5.0 (4.3)% - One-off cost at -0.2 (-4.3) => adjusted EBITDA margin 5.1 (6.1)% • Profit after
Slide 6: Financial overview Q3 2025 – Group
Financial overview Q3 2025 – Group 3.9% growth and strengthened EBITDA margin 5.0% Q3 Jan-Sep Jan-Dec Extract of B3's key figures 2025 2024 Δ% 2025 2024 Δ% 2024 Net Sales, SEK million 254,9 245,4 3,9% 894,2 793,1 12,7% 1 129,3 EBITDA, SEK million 12,8 10,6 20,8% 56,1 39,7 41,3% 57,5 EBITDA margin, %
Slide 7: Financial overview Q3 2025 – B3 Poland
Financial overview Q3 2025 – B3 Poland 10.4% EBITDA/EBIT - Negative growth in a more demanding market Q3 Jan-Sep Jan-Dec Extract of B3 Poland key figures 2025 2024 Δ% 2025 2024 Δ% 2024 Net Sales, SEK million 38,5 45,7 -15,8% 119,8 129,1 -7,2% 176,4 EBITDA, SEK million 4,0 6,1 -34,4% 13,6 17,4 -21,8%
Slide 8: Financial overview Q3 2025 – B3 Norway
Financial overview Q3 2025 – B3 Norway Turnaround started – positive momentum entering Q4 Q3 Jan-Sep Jan-Dec Extract of B3 Norway key figures 2025 2024 Δ% 2025 2024 Δ% 2024 Net Sales, SEK million 18,7 15,3 22,2% 60,0 55,1 8,9% 77,3 EBITDA, SEK million -2,3 -2,7 -14,8% 3,9 4,5 -13,3% 6,5 EBITDA margi
Slide 9: Revenue breakdown
Revenue breakdown Going forward, increase FTEs to ensure readiness when the market recovers 3,9% • The negative impact of the reduced 3 1 0 2 FTEs has remained largely consistent 11 with the prior quarter 24 • Q3 year-over-year revenue growth 24 was mainly driven by prior 255 international subsidiar
Slide 10: Utilization rate
Utilization rate Stable but too low utilization rate in Sweden – room for improvement 87,8 0,5 86,7 85,5 84,2 84,7 • Q3 utilization are low per seasonality 82,7 81,7 80,3 81,2 78,4 79,1 • Normalized utilization for Q3: • ~83% for B3 Sweden 87,8% 86,7% 80,3% 81,2% 78,4% 82,7% 79,1% 82,7% 81,0% 82,2%
Slide 11: B3 operates across multiple markets – YTD September 2025
B3 operates across multiple markets – YTD September 2025 With fewer consultants, most of our companies are experiencing difficulties in sustaining growth 20 • During 2025, four new clusters have been formed, which have 15 already generated synergies 10 • We are stronger when we EBITDA% cooperate in
Slide 12: Fit for growth – Growth initiatives
Fit for growth – Growth initiatives Strengthened focus on recruitment to reverse the negative trend Forward-leaning initiative • New recruitment initiative to boost net recruitment in Sweden. • Growing presence in Norway and closer cross-country collaboration. • Establishing a presence in the defenc
Slide 13: B3 expands its offering with AI Agents
B3 expands its offering with AI Agents Accelerating business transformation through intelligent automation and human–AI collaboration. AI agents as digital colleagues Driving efficiency and scalability Enhanced client value Autonomous, always-on support for Across operations and customer through fas
Slide 14: Fit for growth – Cost savings
Fit for growth – Cost savings Disciplined cost alignment during downturn – ready to capture the next upturn 30 All decisions implemented 25 25 Cost Savings Program 20 23 • Annual savings of 25 MSEK by adapting to lower-than- 20 expected revenues. Full year effect Q4-26 19 15 ➢ Not including previous
Slide 15: New assignments in Q3
New assignments in Q3 New frame agreements and strengthened position with several clients • Framework agreement with one of Poland’s largest telecom • Framework agreement with a US-based software engineering and digital product development company • Strengthened position in the defence sector with n
Slide 16: Q3 Summary
Q3 Summary 3.9% growth and EBITDA up to 5.0% • The Group continues to grow with low but strengthened profitability – still not good enough • Accelerating recruitment across all subsidiaries with weekly progress tracking • Continued market uncertainty, but we are winning new business and strengthenin
Slide 17: Q&A
Q&A
Slide 18: APPENDIX
APPENDIX
Slide 19: Revenue and profit
19 Q1 227,8 Q2 233,5 2021 Q3 189,0 872 Q4 271,6 Q1 290,5 Q2 289,5 2022 Q3 235,8 1 087 Q4 332,3 Q1 324,6 Q2 299,3 2023 Q3 223,3 1 180 Q4 293,6 Q1 281,3 Q2 266,4 2024 Q3 245,4 1 087 Q4 336,2 Revenue MSEK per quarter and R12 Q1 323,6 Revenue and profit Q2 315,6 2025 Q3 254,9 1 230 Development over the
Slide 20: Distribution across different industries
Distribution across different industries B3 operates in several interesting industries driven by digitalization Revenue share per industry Jan-Sep 2025 (Jan-Sep 2024) Banking, finance, insurance 18% (18%) Industry 17% (15%) Government agencies, municipalities 15% (14%) Care 10% (13%) IT, media, ente
Slide 21: Share per segment
Share per segment B3 Poland delivers good growth with high margins Revenue, share per business area EBIT, share per business area Jan-Sep 2025 (Jan-Sep 2024) Jan-Sep 2025 (Jan-Sep 2024) B3 Sweden 59,8% (92,8%) B3 Sweden 81,4% (98,2%) B3 Poland 32,9% (7,2%) 21 B3 Poland 13,4% (1,8%) B3 Norway 7,3% (0
Slide 22: ni
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