Nederman Holding Ab · OMXSTO:NMAN
Nederman Holding Ab — FY2025 Earnings Presentation
184 slides from Nederman Holding Ab's earnings presentation, Feb 12, 2026
Slide 1: We shape the future for clean air
We shape the future for clean air The Clean Annual and Sustainability Air Company Report 2025
Slide 2: Contents
Contents OPERATIONS Overview............................................................................... 4 Our business...................................................................... 12 Our sustainability agenda.............................................38 Our divisions..................
Slide 3: A globally leading environmental technology company
A globally leading environmental technology company 80 years ago, Nederman was already a pioneer within working environments and clean air. Our determination to address the environmental challenges of industry through innovative solutions and cost-effective production has led to continuous expansion
Slide 4: Stable performance in a softer economy
4 OVERVIEW Stable performance in a softer economy 2025 was dominated by tariff threats and geopolitical uncertainty, contributing to lower industrial investment globally and thus impacting demand for industrial air filtration. Against this backdrop, Nederman reported a stable performance, supported
Slide 5: Strengthening technology leadership
OVERVIEW 5 Strengthening technology leadership The establishment of the new innovation centre in Helsingborg and our existing global innovation hubs strengthened our technology leadership in 2025. This resulted in several new product launches, including the Fume Eliminator GoMax, which effectively c
Slide 6: Focus, pace and strong leadership
6 OVERVIEW “Focus, pace and strong leadership Sven Kristensson President and CEO
Slide 7: We are gearing up
OVERVIEW 7 We are gearing up. After several years of comprehensive investments in innovation, production and our markets, we have now set a robust strategy with a clear goal: to take Nederman to the next level and strengthen our global leadership in industrial air filtration. Higher awareness of hea
Slide 8: Photographer: Pax Engström
8 OVERVIEW Photographer: Pax Engström Together with Swedish business daily Dagens industri, Nederman gathered leading experts and business leaders at an exclusive morning event in November to discuss how the business community can navigate in a time of economic uncertainty, geopolitical unrest and r
Slide 9: Investing in Nederman
OVERVIEW 9 Investing in Nederman Nederman is a globally leading environmental technology company with more than 80 years’ experience of industrial air filtration. We combine technology leadership and innovation with a scalable, profitable business model and strong global footprint. Our solutions add
Slide 10: Nederman in brief
10 OVERVIEW Nederman in brief Divisions Nederman is organised into four divisions, based on differences in business logic, customer structure and technology. The divisions are global, have strong brands and an explicit focus on customers and continued growth. NEDERMAN EXTRACTION & FILTRATION TECHNOL
Slide 11: Regions and sales channels
OVERVIEW 11 Regions Nederman’s operations and sales cover all continents. During 2025, sales were conducted in more than 50 countries, with EMEA comprising the largest region and the US the single largest country in terms of share of sales. Our goal is to be number one or two in selected segments an
Slide 12: Greater emphasis on clean air increases market size
12 OUR BUSINESS Greater emphasis on clean air increases market size
Slide 13: Clean air is essential for human health and sustainable industry
OUR BUSINESS 13 Clean air is essential for human health and sustainable industry. Stricter laws, new technologies and industrial innovations are providing tangible solutions to this, while supporting a market with good growth potential. Clean air is not something we can take for granted. Every day,
Slide 14: Robust strategy to take Nederman to the next level
14 OUR BUSINESS Robust strategy to take Nederman to the next level Industry’s need for energy efficiency, higher productivity and a safe working environment is driving demand for industrial air filtration. Meanwhile, laws and regulations are being tightened across the globe, accelerating investment
Slide 15: Market leadership, technology leadership, commercial leadership
OUR BUSINESS 15 FINANCIAL PERFORMANCE GOALS 10% 14% 15% Sales growth over Sales growth over a Return on 30-50% a business cycle business cycle adjusted capital employed Dividend of net earnings EBITA at end of cycle (“ROCE”) after tax (average) Market leadership Technology leadership FOCUS ON STRUCT
Slide 16: Strategic and long-term goals
16 OUR BUSINESS Strategic and long-term goals Our three financial goals, combined with our goal to pay a dividend of 30–50 percent of net profit, are key to our long-term success and shareholder returns. These are complemented by our sustainability goals, showing that financial strength and sustaina
Slide 17: Sustainability goals
OUR BUSINESS 17 Sustainability goals Nederman is committed to reducing its own environmental footprint, creating safe and healthy work environments, driving energy-efficient and circular solutions, and promoting cleaner air globally. Our four sustainability goals serve as benchmarks for everything w
Slide 18: Strategic expansion for global leadership
18 OUR BUSINESS — MARKET LEADERSHIP Market leadership Strategic expansion for global leadership Nederman is growing through a combination of organic expansion and strategic acquisitions. We are continuously capturing new positions in a rapidly evolving market through innovative technologies, a stro
Slide 19: From regional product-based company to global solutions provider
MARKET LEADERSHIP — OUR BUSINESS 19 From regional product-based company to global solutions provider Acquisitions 2025 2018-2024 2010-2017 (The amount refers to sales the year prior to acquisition) Geography MBE SEK 29m Ezi-Duct Environmental Filtration SEK 34m Euro-Equip Technologies SEK 240m SEK 8
Slide 20: Leader in established industries, driver in new growing ones
20 OUR BUSINESS — MARKET LEADERSHIP Leader in established industries, driver in new growing ones Nederman delivers clean air solutions to a variety of industries addressable sub-markets are often expanding at a slightly high- around the world. With strong positions in established segments er rate th
Slide 21: Structurally growing industries
MARKET LEADERSHIP — OUR BUSINESS 21 Structurally growing industries INDUSTRY NEEDS / CHALLENGES NEDERMAN’S PORTFOLIO, EXAMPLES Advanced materials Ultrafine particles and gases from 3D printing and ■ Extraction arms directly by 3D printers and composite processes processing composites that pose a thr
Slide 22: Examples in structurally growing industries
22 OUR BUSINESS — MARKET LEADERSHIP Examples in structurally growing industries Solutions for a more We enable more efficient defence industry circular material flows The defence industry is a growing segment where global Nederman is strengthening its position in the rapidly investments are being dr
Slide 23: Part of a sustainable battery production
MARKET LEADERSHIP — OUR BUSINESS 23 Part of a sustainable For safe and optimal battery production energy recovery from waste Battery manufacturing and recycling is a growing global Waste-to-Energy is growing rapidly worldwide, driven by market, driven by electrification and the need for circular inc
Slide 24: Significant potential in Asia-Pacific region
24 OUR BUSINESS — MARKET LEADERSHIP Significant potential in Asia-Pacific region The Asia-Pacific region has significant market potential in industrial air filtration. Through our local presence in such countries as China, India, Thailand, Australia and Singapore, we are meeting demand for advanced
Slide 25: Net sales per division
MARKET LEADERSHIP — OUR BUSINESS 25 Net sales, SEKm Net sales Market position per division 5 1200 1000 23% 25% # 800 600 Share of 7% group employees 400 200 0 2021 2022 2023 2024 2025 45% 22% External sales Extraction & Filtration Technology Process Technology Duct & Filter Technology Monitoring & C
Slide 26: Our world of innovation
26 OUR BUSINESS – TECHNOLOGY LEADERSHIP Ex et litiur aut rem est expellant fuga. Ipsume conemolupta similitas archili quibeatur? Technology leadership Our world of innovation Innovation is the core of our offering. By constantly developing new products, services and business models, we create value
Slide 27: Innovation Center
TECHNOLOGY LEADERSHIP — OUR BUSINESS 27 Ducting and piping Evaporators, drying systems, solutions for air containing Analysers for measuring, extrusion, pelletizers and other particles, dust, gas, fibres, monitoring, validating and devises for powder & liquid. and other contaminants. reporting on ga
Slide 28: The aim is to create a hub that makes it easier to drive innovation
28 OUR BUSINESS – TECHNOLOGY LEADERSHIP “ The aim is to create a hub that makes it easier to drive innovation across Nederman David Alberius Innovation Centre Manager Helsingborg, Sweden Nederman’s innovation centre in Helsingborg has become a hub for the Group’s R&D activities since its inauguratio
Slide 29: Fume Eliminator GoMax, ReportLoq DAHS, Auburn PM 1 PRO
TECHNOLOGY LEADERSHIP — OUR BUSINESS 29 Fume Eliminator GoMax ReportLoq DAHS With highly efficient, user-friendly intelligent welding fume ReportLoq DAHS is an innovative system developed by Olicem extraction for on-torch use, the Fume Eliminator GoMax is per- that simplifies reporting of air emissi
Slide 30: A leading industrial air filtration range
30 OUR BUSINESS – COMMERCIAL LEADERSHIP Commercial leadership A leading industrial air filtration range Our comprehensive product and service portfolio, combined with our expertise in digitalisation, makes us a leading competence and technology partner for industries worldwide that want to improve t
Slide 31: Nederman Clean Air Concept
COMMERCIAL LEADERSHIP — OUR BUSINESS 31 Report Analyse Monitor Optimise Capture / Transport / Filter Nederman Clean Air Concept To minimise emissions and pollution in production processes, we have developed the Nederman Clean Air Concept, a unique approach to industrial air filtration. The concept r
Slide 32: The value we deliver – Clean Air Optimised
32 OUR BUSINESS – COMMERCIAL LEADERSHIP The value we deliver – Clean Air Optimised Air pollution, indoor and outdoor, which is calculated in accordance with WHO (World Health Organisation) param- eters, causes approximately 7 million premature deaths each year. Using our advanced air filtration solu
Slide 33: Tiflex and Renova customer cases
COMMERCIAL LEADERSHIP — OUR BUSINESS 33 Enhanced efficiency for Gasmet and Renova: Tiflex with smart dust collection safe and reliable gas monitoring When UK-based rubber and cork products manufacturer Tiflex Swedish company Renova, one of the country’s leading waste man- needed to modernise its dus
Slide 34: High operational efficiency for increased profitability
34 OUR BUSINESS — OPER ATIONAL LEADERSHIP Operational leadership High operational efficiency for increased profitability Through strategic investments in production and logistics, we have created a scalable and cost-effective platform where increased volumes directly strengthen our margins. With aut
Slide 35: Our presence across the globe
OPER ATIONAL LEADERSHIP OUR — BUSINESS 35 Investments in operational leadership 2025 In the US, we completed the invest- ment in a new facility for large- diameter ducting in Thomasville and expanded the Boston facility, which now includes an experience centre. The facility in Charlotte has under- g
Slide 36: The talent behind the Clean Air Company
36 OUR BUSINESS The talent behind the Clean Air Company Our success is based on having talented and driven people who enjoy their work and grow in a cre- ative and multi-cultural environment. Nederman offers an inspiring workplace and the possibility to be part of developing tomorrow’s solutions for
Slide 37: Employee stories
OPER ATIONAL LEADERSHIP OUR — BUSINESS 37 “understand not only "the sense of doing how, but also why” something meaningful" Corrine Bryant Oscar Puentes Order Handling & Purchasing Manager Project Engineering & Technical Support Charlotte, North Carolina, US Madrid, Spain My first position at Nederm
Slide 38: Our sustainability plan “Change is in the Air”
38 OUR SUSTAINABILIT Y AGENDA Our sustainability plan “Change is in the Air”
Slide 39: Sustainability is at the core of our offering
OUR SUSTAINABILIT Y AGENDA 39 Sustainability is at the core of our offering and is a foundation for how we do business. As a world-leading global partner in industrial air filtration, we have an opportunity to make a positive difference to both human health and the well-being of our planet. Our visi
Slide 40: Vision: clean air and co-workers
40 OUR SUSTAINABILIT Y AGENDA “We want to create a world where industrial air pollution is no longer a threat to human health and to our planet.” Clean Air Co-workers We improve air quality to protect We contribute to good working conditions people, planet and production. for people throughout our v
Slide 41: Climate and circularity
OUR SUSTAINABILIT Y AGENDA 41 Climate Circularity We help our customers to We focus on circularity in our reduce their climate footprint. products, services and solutions. As a leading environmental technology company, we have a We focus on circularity in our products, services and solutions. respon
Slide 42: Examples of activities in our focus areas
42 OUR SUSTAINABILIT Y AGENDA Examples of activities in our focus areas Clean Air Co-workers REVOLUTION IN PARTICULATE EMPLOYEE-DRIVEN MONITORING IN THE ALUMINIUM INDUSTRY COMMITMENT TO SUSTAINABILITY Auburn has developed a groundbreaking solution for Through the Nederman sustainability fund, employ
Slide 43: Climate and circularity examples
OUR SUSTAINABILIT Y AGENDA 43 Climate Circularity OWN PLANT SWITCHES INNOVATIVE FAN DESIGN CUTS TO RENEWABLE ENERGY ENERGY, NOISE AND EMISSIONS We have invested in solar panels and electrified heating The manufacturing process for the new NCF fan has been and cooling systems at our expanded Thomasvi
Slide 44: Sustainability governance
44 OUR SUSTAINABILIT Y AGENDA Sustainability governance The Board of Directors is ultimately responsible for Nederman’s GLOBAL MANAGEMENT SYSTEM sustainability performance and sets the long-term goals. Group Our global management system, GuideUs, is management is responsible for following-up and dev
Slide 45: Our corporate governance documents
OUR SUSTAINABILIT Y AGENDA 45 Our corporate governance documents Our corporate governance documents set out the principles and Sustainability Policy values that guide our activities, particularly in the area of sus- Our Sustainability Policy describes the principles of our sustain- tainability. Poli
Slide 46: Sustainability reporting – double materiality assessment
46 OUR SUSTAINABILIT Y AGENDA Sustainability reporting Double materiality assessment In accordance with the CSRD, Nederman has conducted a double The topics of water, biodiversity and ecosystems and affected materiality assessment. The findings of this serve as the basis communities were assessed as
Slide 47: EU Taxonomy
OUR SUSTAINABILIT Y AGENDA 47 EU Taxonomy The establishment of a classification system for more sustain- solutions (CE 4.1), and data-driven solutions for GHG emissions able activities, a green Taxonomy, is a measure within the frame- reductions after this cumulative exclusion, represents the focus
Slide 48: Four global divisions with leading positions
48 OUR DIVISIONS Four global divisions with leading positions
Slide 49: Nederman is organised in four divisions
OUR DIVISIONS 49 Nederman is organised in four divisions, based on differences in business logic, customer structure and technology. The organisation is driven by simplicity and has the group’s brands as its starting point. The operating segments are global and have an explicit focus on the customer
Slide 50: Nederman Extraction & Filtration Technology
50 OUR DIVISIONS Nederman Extraction & Filtration Technology MARKET POSITION CUSTOMERS PORTFOLIO Sales are conducted globally through Customers include industries and businesses The division delivers clean air solutions opti- our own sales companies and through an with air pollution that must be man
Slide 51: Order boost in structurally growing industries
OUR DIVISIONS 51 Order boost in structurally growing industries Through strategic investments in structural growth, good conditions for continued growth and laid the foundation for service, innovation, digital platforms and more effi- stronger profitability and increased competitiveness. cient produ
Slide 52: Nederman Process Technology
52 OUR DIVISIONS Nederman Process Technology MARKET POSITION CUSTOMERS PORTFOLIO The customer base includes large multina- Customers are found in a range of industries, The division offers clean air solutions opti- tional companies that are integrating and with the textile industry being the largest
Slide 53: Good profitability in continued weak market
OUR DIVISIONS 53 Good profitability in continued weak market The division has strengthened its position in long- The division’s strategic plan has been implemented in all compa- term attractive segments with solutions that promote nies and is a key tool for driving improved earnings and common resou
Slide 54: Nederman Duct & Filter Technology
54 OUR DIVISIONS Nederman Duct & Filter Technology MARKET POSITION CUSTOMERS PORTFOLIO Under the Nordfab brand, the division is mar- Customers are found in a range of industries, The division offers complete ducting ket leader for ducting systems with growing such as woodworking and metalworking, sy
Slide 55: Innovation and fast delivery drive continued success
OUR DIVISIONS 55 Innovation and fast delivery drive continued success Nordfab Now, digitalisation and strategic investments defence industry in EMEA and the US. This further strengthened in structurally growing segments helped Nederman our position in markets with long-term growth potential. Duct &
Slide 56: Nederman Monitoring & Control Technology
56 OUR DIVISIONS Nederman Monitoring & Control Technology MARKET POSITION CUSTOMERS PORTFOLIO With its solid application and technology The division targets industries that require The division offers systems for laser-based know-how, the division has established continuous monitoring, reporting and
Slide 57: Solid performance with high rate of innovation
OUR DIVISIONS 57 Solid performance with high rate of innovation In a challenging market, Nederman Monitoring & Control combining hardware, software and services, the division can Technology maintained sales and profitability through offer broader and more integrated solutions for monitoring, a stron
Slide 58: Directors' Report – Review of business operations
58 DIREC TORS’ REPORT – REVIEW OF BUSINESS OPER ATIONS
Slide 59: Review of business operations
DIREC TORS’ REPORT – REVIEW OF BUSINESS OPER ATIONS 59 Review of business operations The Board of Directors and CEO of Nederman Holding AB (publ), high-vacuum products and reels for the distribution of a variety corporate registration number 556576-4205, have prepared the of liquids and compressed a
Slide 60: Profit/loss and product development
60 DIREC TORS’ REPORT – REVIEW OF BUSINESS OPER ATIONS PROFIT/LOSS PRODUCT DEVELOPMENT Consolidated operating profit for 2025 totalled SEK 504.3m The group’s total research and development expenses amount- (592.5), corresponding to an operating margin of 8.7 percent ed to SEK 165.0m (151.6), of whic
Slide 61: Liquidity and financial position
DIREC TORS’ REPORT – REVIEW OF BUSINESS OPER ATIONS 61 LIQUIDITY AND FINANCIAL POSITION compared with the preceding year was mainly attributable to At the end of the period, the group had SEK 667.5m (825.2) in higher dividends from the subsidiaries. cash and cash equivalents, as well as SEK 146.0m (
Slide 62: Five-year overview
62 DIREC TORS’ REPORT – REVIEW OF BUSINESS OPER ATIONS Five-year overview SEKm 2025 2024 2023 2022 2021 Operating revenue and earnings Net sales 5,782.8 5,899.9 6,187.8 5,178.9 4,041.8 EBITA 620.5 703.3 697.6 558.2 522.3 Adjusted EBITA 626.5 707.6 714.9 566.6 494.6 EBITDA 793.4 865.5 850.3 682.0 633
Slide 63: Sales, operating profit and cash flow charts
DIREC TORS’ REPORT – REVIEW OF BUSINESS OPER ATIONS 63 SALES, SEKM OPERATING PROFIT AND OPERATING MARGIN AND ADJUSTED EBITA, SEKM ADJUSTED EBITA MARGIN, % 8000 800 14 7000 700 12 6000 600 10 5000 500 8 4000 400 6 3000 300 4 2000 200 1000 100 2 0 0 0 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025
Slide 64: Risks and risk management
64 DIREC TORS’ REPORT – REVIEW OF BUSINESS OPER ATIONS Risks and risk management RISKS THAT COULD SIGNIFICANTLY IMPACT THE GROUP COMPLIANCE RISKS Nederman is exposed to a number of risks that could significantly Compliance with laws, regulations and group policies relating impact the group’s operati
Slide 65: Financial risks and management
DIREC TORS’ REPORT – REVIEW OF BUSINESS OPER ATIONS 65 Financial risks Management Underlying weakening of the economy Continual updating of contingency plans, on local, regional and global levels. Geopolitical turbulence/trade war Continued policy of local/regional production and purchasing. Continu
Slide 66: Sustainability report
66 DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT Sustainability report General information ESRS 2 – General disclosures BP-1. General basis for preparation of sustainability statements This Sustainability Report has been prepared in accordance with the Corpo- The units that were acquired in 2025 are i
Slide 67: GOV-1. Role of administrative, management and supervisory bodies
DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT 67 GOV-1. The role of the administrative, management and supervisory bodies The Nederman Group is governed through the General Meeting of Sharehold- Nederman’s Group management four times a year in the divisions’ manage- ers, the CEO and Group management.
Slide 68: GOV-2. Information provided to governing bodies
68 DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT GOV-2. Information provided to and sustainability matters addressed by the undertaking’s administrative, management and supervisory bodies Nederman’s primary process for identifying and assessing sustainability-re- Figure 4. Materiality assessment lated
Slide 69: GOV-4 and GOV-5. Due diligence and risk management
DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT 69 GOV-4. Statement on due diligence Our due diligence for sustainability has been implemented across the Group. Due Figure 6, which maps the core elements of our internal due diligence process to diligence is conducted in many ways, and related disclosure
Slide 70: SBM-2. Interests and views of stakeholders
70 DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT As regards specific sectoral activities under the criteria set out in the ESRS Figure 7. Total employees (end of year) standards, Nederman confirms that the organisation is not active in fossil fuels, chemical production or tobacco cultivation and produ
Slide 71: SBM-3. Material impacts, risks and opportunities
DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT 71 SBM-3. Material impacts, risks and opportunities and their interaction with strategy and business model Our double materiality assessment has demonstrated the positive impact of stream value chain through the use of our products. The positive impact on
Slide 72: IRO-2. Disclosure requirements in ESRS
72 DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT The financial materiality of all identified risks and opportunities is assessed The results of this process are integrated into the Group’s overall management based on the likelihood and order of magnitude of the financial impact, in accor- and strategi
Slide 73: Content index of ESRS disclosure requirements
DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT 73 Figure 9. Content index of ESRS disclosure requirements, cont. Disclosure Name of disclosure requirement Section requirement (according to heading in the document) Page S1-6 Characteristics of the undertaking’s employees 98 S1-9 Diversity metrics 99 S1-
Slide 74: Datapoints derived from other EU legislation
74 DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT Figure 10. Datapoints derived from other EU legislation Page reference / Disclosure requirement Datapoint Description Status ESRS 2 GOV-1 21(d) Gender distribution on the Board of Directors 67 ESRS 2 GOV-4 30 Statement on due diligence 69 ESRS 2 SBM-1 4
Slide 75: Environmental disclosures – ESRS E1 Climate change
DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT 75 Environmental disclosures ESRS E1 – Climate change E1 GOV-3 – Integration of sustainability-related performance in incentive schemes The performance of executives is evaluated in part on the basis of achieve- 1 and 2. The share of remuneration that was
Slide 76: E1-IRO-1. Climate-related impacts, risks and opportunities
76 DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT E1-IRO-1. Description of the processes to identify and assess material climate-related impacts, risks and opportunities The processes for identifying and assessing our climate-related impacts and ■ Policy and legal: Increasingly stringent environmental
Slide 77: E1-2 and E1-3. Climate policies and actions
DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT 77 Figure 12. Financial resources allocated to action plan SEKm Current expenditure Of which Taxonomy-aligned Expenditure supporting: OpEx CapEx OpEx CapEx Reduction of GHG emissions in the value chain (Products in use) 0 6.0 0 0 Reduction of GHG emissions
Slide 78: E1-4. Climate targets
78 DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT Figure 13. Actual and expected emission reductions Reduction of GHG emissions Reduction of GHG emissions % in the value chain (Products in use) in own operations Drivers for carbon emission reduction Current Expected Current Expected Energy efficiency a
Slide 79: GHG emissions for Scope 1, 2 and 3
DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT 79 Figure 14. GHG emissions for Scope 1, 2 and 3 History Milestones and target years Base year: % 2025 / % 2025/ Values in tCO₂eq 2022 2024 2025* 2024 2025 2030 2050 2022 Scope 1 GHG emissions Gross Scope 1 GHG emissions 914 807 838 4% 770 530 91 -8% Propo
Slide 80: GHG emissions reduction bridge 2022 to 2030
80 DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT Figure 16. GHG emissions reduction bridge between base year 2022 and target year 2030 Values in ktCO₂eq Base year 2022 9,888,129 Reduction of GHG emissions in the value chain Energy efficiency and consumption reduction -1,158,818 Material efficiency and
Slide 81: Energy consumption and mix
DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT 81 Figure 17. Energy consumption and mix 2025 2024 Fuel consumption from coal and coal products (MWh) 0 0 Fuel consumption from crude oil and petroleum products (MWh) 115 226 Fuel consumption from natural gas (MWh) 4,299 3,952 Fuel consumption from other f
Slide 82: E1-6. Gross Scopes 1, 2, 3 and total GHG emissions
82 DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT E1-6. Gross Scopes 1, 2, 3 and Total GHG emissions This section presents Nederman’s inventory of GHG emissions for the reporting period. This inventory has been prepared in accordance with the GHG Protocol The following four Scope 3 categories have been
Slide 83: GHG emissions for Scope 1, 2 and 3
DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT 83 Figure 23. GHG emissions for Scope 1, 2 and 3 History Milestones and target years Values in tCO₂eq Base year: % 2025/ % 2025/ 2022 2024 2025* 2024 2025 2030 2050 2022 Scope 1 GHG emissions Gross Scope 1 GHG emissions 914 807 838 4% 770 530 91 -8% Propor
Slide 84: ESRS E2 – Pollution
84 DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT Figure 26. Percentage of combined and separate instruments for Scope 2 Type / Scope Location-based Market-based Package with instruments 0.5% N/A Stand-alone instruments without packages 99.5% N/A Figure 27. GHG intensity based on net revenue, Scope 1,
Slide 85: E2-1 to E2-3. Pollution policies, actions, targets
DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT 85 E2-1. Policies related to pollution Nederman’s policy for managing pollution-related impacts, risks and oppor- The Board of Directors owns this policy and is responsible for its strategic direc- tunities has been integrated into our overall Sustainabili
Slide 86: ESRS E3 and E4 – Water and biodiversity
86 DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT ESRS E3 – Water and marine resources E3-IRO-1. Description of the processes to identify and assess material water and marine resources-related impacts, risks and opportunities Nederman assessed its impacts, risks and opportunities in relation to water a
Slide 87: ESRS E5 – Resource use and circular economy
DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT 87 ESRS E5 – Resource use and circular economy E5-IRO-1. Description of the processes to identify and assess material resource use and circular economy-related impacts, risks and opportunities Nederman’s process for identifying and assessing impacts, risks
Slide 88: E5-3 and E5-4. Targets and resource inflows
88 DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT E5-3. Targets related to resource use and circular economy In line with our circularity policy, Nederman has set a central target to guide our By focusing on increasing the proportion of recycled material, Nederman aims actions regarding use of material
Slide 89: E5-5. Resource outflows
DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT 89 E5-5. Resource outflows Nederman’s resource outflows comprise our integrated filter systems, asso- Data is calculated according to the following methodology: ciated spare parts and air measurement instruments. These products are manufactured primarily f
Slide 90: Nederman's contribution to the Pollution objective
90 DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT ■ Circular economy: Nederman’s products are designed for long service life Identification method Since Nederman has identified a specific Taxono- and are supported by a comprehensive service offering. We aim to mini- my-eligible activity, the calculatio
Slide 91: Taxonomy-eligible KPI (turnover)
OpEx CapEx Turnover Central KPI reductions Economic activities (1) (1) Data-driven solutions for technologies (turnover) GHG emissions Manufacture of per objective other low carbon Total adaptation Total central KPIs Financial year (2025) Financial year (2025) Reported KPIs (turnover) Code Total (2)
Slide 92: Taxonomy-eligible KPI (CapEx)
92 DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT Reported KPIs (CapEx) Financial year (2025) Environmental objective for Taxonomy-aligned activities Proportion of Taxonomy-aligned activities in Taxonomy- Taxonomy-aligned KPI (proportion of Taxonomy-aligned Taxonomy-eligible KPI (proportion of Taxonomy
Slide 93: 2025 Taxonomy-eligible CapEx
DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT 93 2025 Taxonomy-eligible CapEx (SEKm) CCM 3.6 CCM 8.2 Tangible assets 4 0 Intangible assets 10 29 Right-of-use assets 2 0 Total 15 30 2025 Taxonomy-eligible CapEx (SEKm) CCM 3.6 CCM 8.2 Internal fixed assets 15 30 Fixed assets from acquisitions 0 0 Total
Slide 94: Background information – minimum safeguards
94 DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT Alignment with criteria CCM 3.6 Manufacture of other low carbon technologies and for minimum safeguards CCM 8.2 Data-driven solutions for GHG emissions reductions The minimum safeguards referred to in point (c) of Article Nederman applies a Fair Competi
Slide 95: Social disclosures – ESRS S1 Own workforce
DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT 95 Social disclosures ESRS S1 Own workforce SBM-3. Material impacts, risks and opportunities and their interaction with strategy and business model Nederman’s own workforce is fundamental for the implementation of our conducted regularly at all levels of t
Slide 96: S1-2. Engaging with own workforce
96 DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT In 2025 we worked on a project for updating our internal policies and improving zero-tolerance policy toward discrimination or harassment based on gender, our standards for protecting the people in our workforce. As part of this project, ethnicity, reli
Slide 97: S1-3. Remediating negative impacts
DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT 97 S1-3. Processes to remediate negative impacts and channels for own workers to raise concerns Nederman is firmly committed to fostering a work environment in which safe talking about mistakes in your team?” (88 percent), gives us reason to employees feel
Slide 98: S1-5. Targets for own workforce
98 DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT Resources Nederman has allocated monetary resources ■ We have estimated that this year’s investment levels (CapEx) in the form of finances to continually pursue these actions: will continue in coming years, and we have allocated SEK 10m per year ■ Curre
Slide 99: S1-9. Diversity metrics
DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT 99 Figure 37. Average number of employees by country Figure 38. Average number of employees by employment type and gender USA 584 Employment type Women Men Total Sweden 220 Total number of employees 501 1,822 2,323 India 189 Permanent employees 473 1,705 2
Slide 100: S1-13, S1-14, S1-16. Training, health and safety, remuneration
100 DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT S1-13. Training and skills development metrics Figure 43. Percentage of total employees who have had performance reviews by gender Number of employees who have Percentage of employees who Gender had performance reviews Average number of employees have
Slide 101: ESRS S2 – Workers in the value chain
DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT 101 ESRS S2 – Workers in the value chain SBM-3. Material impacts, risks and opportunities and their interaction with strategy and business model Understanding of material impacts, risks and opportunities by workers in the in Asia, the Middle East and Afric
Slide 102: S2-2 and S2-3. Engaging value chain workers
102 DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT S2-2. Processes for engaging with value chain workers about impacts Nederman’s dialogue with workers in our value chain takes place through reaching these “silent stakeholders” who are several steps away from our own a combination of direct communicati
Slide 103: S2-5. Targets for value chain workers
DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT 103 tions of our capacity for exerting influence far upstream – also helps manage We have allocated the following specific financial resources to the action plan: stakeholder expectations. To manage the risk of business interruption, we are systematically
Slide 104: S4 – Consumers and end-users
104 DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT S4 – Consumers and end-users SBM-3. Material impacts, risks and opportunities and their interaction with strategy and business model Consumers and end-users have been identified as a material topic in our double or freedom of expression. Our digital so
Slide 105: S4-2 and S4-3. Engaging consumers and end-users
DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT 105 S4-2. Processes for engaging with consumers and end-users about impacts At the heart of Nederman’s business is cleaning and monitoring air – a key sell- allows downstream workers, end users and other stakeholders to report prob- ing point that highligh
Slide 106: S4-4. Taking action on consumer and end-user impacts
106 DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT ESRS S4-4. Taking action on material impacts on consumers and end-users, and approaches to managing material risks and pursuing material opportunities related to consumers and end- users, and effectiveness of those actions Nederman’s actions for managi
Slide 107: Information on corporate governance – ESRS G1
DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT 107 Information on corporate governance ESRS G1 – Business conduct GOV-1. The role of the administrative, supervisory and management bodies Business conduct and policy framework ity assessment, which helps to shape our strategic priorities and the ongoing
Slide 108: G1-2. Management of relationships with suppliers
108 DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT based on international guidelines including the ten principles of the UN Global Nederman has an external, anonymous whistleblower system that is managed Compact, the UN Guiding Principles on Business and Human Rights, the OECD by an independent legal a
Slide 109: G1-4. Confirmed incidents of corruption or bribery
DIREC TORS’ REPORT – SUSTAINABILIT Y REPORT 109 G1-4. Confirmed incidents of corruption or bribery Stakeholder identification and scope These activities are driven by proactive supplier engagement programmes that As regards sound business practices, Nederman has identified a broad range include rout
Slide 110: Corporate Governance
110 DIREC TORS’ REPORT – CORPOR ATE GOVERNANCE Corporate Governance Nederman Holding AB (publ) is a Swedish public limited compa- until the next Annual General Meeting to acquire and transfer the ny with its registered office in Helsingborg, Sweden. Nederman company’s own shares up to a maximum numb
Slide 111: Overall structure of corporate governance in Nederman
DIREC TORS’ REPORT – CORPOR ATE GOVERNANCE 111 Overall structure of corporate governance in Nederman Decision-making Preparatory function function General Meeting of Nomination Committee Auditor Shareholders Remuneration Committee Board of Directors Audit Committee President and CEO with the proposa
Slide 112: General Meeting and Board of Directors
112 DIREC TORS’ REPORT – CORPOR ATE GOVERNANCE As stated in the Articles of Association, the General Meeting of Every year, the senior executives formulate a strategy proposal, Shareholders has full decision-making power in election of Board which is discussed and adopted at the final Board of Direc
Slide 113: Auditor and remuneration
DIREC TORS’ REPORT – CORPOR ATE GOVERNANCE 113 an audit report to the General Meeting of Shareholders after each fixed salary for the CEO and not more than 100 percent of the financial year. From 2011, the Annual General Meeting appoints total fixed salary for other senior executives. an auditor for
Slide 114: Treasury shares and internal control
114 DIREC TORS’ REPORT – CORPOR ATE GOVERNANCE and the transfer of treasury shares. The acquisition of treasury Information and communication. Documentation of gov- shares may take place on Nasdaq Stockholm at a price within a erning policies and instructions are continuously updated and range betwe
Slide 115: Directors' Report – Corporate Governance
DIREC TORS’ REPORT – CORPOR ATE GOVERNANCE 115
Slide 116: Guidelines for executive remuneration
116 DIREC TORS’ REPORT – GUIDELINES FOR EXECUTIVE REMUNER ATION Guidelines for executive remuneration The Annual General Meeting on 25 April 2023 adopted the guide- tainability goals that are linked to the business. In addition, indi- lines for executive remuneration proposed by the Board of Direc-
Slide 117: Other variable remuneration
DIREC TORS’ REPORT – GUIDELINES FOR EXECUTIVE REMUNER ATION 117 Other variable remuneration TERMINATION OF EMPLOYMENT Further variable remuneration may be awarded in extraordinary The notice period may not exceed 24 months if notice of termi- circumstances, provided that such extraordinary arrangeme
Slide 118: Board of Directors
118 DIREC TORS’ REPORT – BOARD OF DIREC TORS Board of Directors JOHAN MENCKEL (1971) SVEN KRISTENSSON (1962) ANDERS BORG (1968) Education: M.Sc. Eng. Industrial Economy, Education: The Swedish Air Force. Education: Studied political science, economic KTH Royal Institute of Technology University of L
Slide 119: Group management
DIREC TORS’ REPORT – GROUP MANAGEMENT 119 Group management SVEN KRISTENSSON (1962) MATTHEW CUSICK (1977) HANS DAHLÉN (1968) TOMAS HAGSTRÖM (1976) Role: President and CEO Role: SVP, CFO Role: SVP, Head of Division Role: SVP, Head of Division Year of employment: 2001 Year of employment: 2011 Extractio
Slide 120: Directors' Report – Board of Directors
120 DIREC TORS’ REPORT – BOARD OF DIREC TORS
Slide 121: Directors' Report – Group Management
DIREC TORS’ REPORT – GROUP MANAGEMENT 121
Slide 122: Consolidated financial statements
122 CONSOLIDATED FINANCIAL STATEMENTS Consolidated financial statements Consolidated statement of profit or loss 1 January - 31 December SEKm Note 2025 2024 Net sales 5, 6 5,782.8 5,899.9 Cost of goods sold 9 -3,489.7 -3,576.2 Gross profit 2,293.1 2,323.7 Selling expenses 9 -1,148.9 -1,139.9 Adminis
Slide 123: Consolidated statement of financial position
CONSOLIDATED FINANCIAL STATEMENTS 123 Consolidated statement of financial position 31 December SEKm Note 2025 2024 Assets Intangible assets and goodwill 13 2,773.7 2,869.1 Tangible assets 14 560.5 568.5 Right-of-use assets 15 516.9 572.8 Long-term receivables 18 18.1 21.1 Deferred tax assets 12 125.
Slide 124: Consolidated statement of changes in equity
124 CONSOLIDATED FINANCIAL STATEMENTS Consolidated statement of changes in equity Equity attributable to the parent company’s shareholders Retained earnings Share Other capital Translation including net Total SEKm capital contributed reserve profit for the year equity Opening equity 1 Jan 2024 1.2 3
Slide 125: Consolidated statement of cash flows
CONSOLIDATED FINANCIAL STATEMENTS 125 Consolidated statement of cash flows 1 January - 31 December SEKm Note 2025 2024 Operating activities Operating profit 504.3 592.5 Adjustment for: Depreciation of fixed assets 289.2 273.1 Other adjustments for non cash items 31 -18.3 -22.4 Interest received 22.7
Slide 126: Notes to the financial statements
126 CONSOLIDATED FINANCIAL STATEMENTS Notes to the financial statements Note Nederman group Page Note Parent company Page 1 Accounting policies 127 1 Accounting policies 162 Significant judgements when applying 2 128 2 Revenue 162 accounting policies, estimates and assumptions 3 Goal and policy rega
Slide 127: Note 1. Accounting policies
CONSOLIDATED FINANCIAL STATEMENTS 127 Note 1. Accounting policies Compliance with laws and standards For foreign operations with a functional currency that is classified as a hyper- The consolidated financial statements for Nederman Holding AB and its sub- inflationary currency, the financial statem
Slide 128: Note 2. Significant judgements and estimates
128 CONSOLIDATED FINANCIAL STATEMENTS Note 2. Significant judgements when applying accounting policies, estimates and assumptions When preparing the group’s financial statements, senior management makes impact future financial statements since the outcome may differ from earlier estimates and assump
Slide 129: Note 3. Financial risk, continued
CONSOLIDATED FINANCIAL STATEMENTS 129 Note 3. Goal and policy regarding financial risk, continued Between Between Between Later Within 6 6 and 12 1 and 2 2 and 5 than 5 2025, SEKm Total months months years years years Bank loan* (revolving) 948.4 15.0 15.0 30.1 888.3 - Bank loan* (revolving) 93.2 1.
Slide 130: Note 3. Financial risk, continued
130 CONSOLIDATED FINANCIAL STATEMENTS Note 3. Goal and policy regarding financial risk, continued According to the group’s financial policy, 70 percent of the expected currency Translation exposure flows in foreign currencies can be hedged for a maximum of eight months for- Net assets in the group a
Slide 131: Note 4. Acquisitions of business operations
CONSOLIDATED FINANCIAL STATEMENTS 131 SEKm Euro-Equip S.L. Total Acquisition price 188.9 188.9 whereof conditional earn-out payment -13.4 -13.4 Fair value of identifiable acquired assets and liabilities, SEKm Intangible assets 35.5 35.5 Tangible assets 2.2 2.2 Inventory 11.8 11.8 Accounts receivable
Slide 132: Note 5. Segment reporting, continued
132 CONSOLIDATED FINANCIAL STATEMENTS Note 5. Segment reporting, continued Extraction Duct & Monitoring Total & Filtration Process Filter & Control Non- Nederman 2025, SEKm Technology Technology Technology Technology allocated Elimination group Net sales, external customers 2,639.9 1,628.5 747.3 767
Slide 133: Note 6. Revenue from customer contracts
CONSOLIDATED FINANCIAL STATEMENTS 133 Geographic regions External sales by region, 2025 The group is presented below, divided into geographic regions. The informa- tion presented concerning the revenue for the geographic areas is grouped APAC 14% (16) according to where the customers are located. In
Slide 134: Note 6. Revenue from customer contracts, continued
134 CONSOLIDATED FINANCIAL STATEMENTS Note 6. Revenue from customer contracts, continued Significant estimates and assumptions Revenue recognition relating to sales of solutions Revenue recognition relating to sales of solutions, which is recognised i.e. estimates the extent to which accrual of the
Slide 135: Note 8. Employees
CONSOLIDATED FINANCIAL STATEMENTS 135 Note 8. Employees Accounting policies Remuneration Policy ment of the share price. The LTI programme comprises three financial The prevailing guidelines for executive remuneration were adopted by the years. During year 1, the initial grant value of the LTI shall
Slide 136: Note 8. Employees, continued
136 CONSOLIDATED FINANCIAL STATEMENTS Note 8. Employees, continued Expenses for remuneration to employees, SEKm 2025 2024 Salaries and other remuneration 1,549.0 1,546.6 Pension costs, defined-benefit plans (see also note 24) 6.3 5.8 Pension costs, defined-contribution plans (see also note 24)* 80.2
Slide 137: Note 9. Expenses by nature
CONSOLIDATED FINANCIAL STATEMENTS 137 Remuneration to senior executives Basic salary, Variable Board remunera- Other Pension 2025, SEKt fees tion LTI benefits costs Total Chairman of the Board Johan Menckel 942 - - - - 942 Member of the Board Anders Borg 511 - - - - 511 Member of the Board Gunilla F
Slide 138: Notes 10 and 11. Auditor fees, financial income and expenses
138 CONSOLIDATED FINANCIAL STATEMENTS Note 10. Fees and expenses to auditors SEKm 2025 2024 EY Audit assignment 10.4 9.1 Audit-related fee - 1.1 Other assignments 0.4 0.4 Total 10.8 10.6 Other auditors Audit assignment 2.0 2.5 Tax advice 2.6 0.8 Other assignments 0.3 0.5 Total 4.9 3.8 Fees and expen
Slide 139: Note 12. Income tax
CONSOLIDATED FINANCIAL STATEMENTS 139 Note 12. Income tax Significant estimates and assumptions Deferred tax and uncertainty in income tax processes Wherever uncertainty occurs in the treatment of income tax, an assess- gains. Significant estimates are made by senior management to determine ment is
Slide 140: Note 12. Income tax, continued
140 CONSOLIDATED FINANCIAL STATEMENTS Note 12. Income tax, continued Unrecognised tax loss carryforwards Deductible temporary differences and loss carryforwards for which deferred tax assets have not been reported in the consolidated statement of financial position: SEKm 2025 2024 Loss carryforwards
Slide 141: Note 13. Intangible assets and goodwill
CONSOLIDATED FINANCIAL STATEMENTS 141 Note 13. Intangible assets and goodwill Accounting policies Research and development Costs for development, where research results or other knowledge is annually for impairment, or more frequently if there are indications of a applied to achieve new or improved
Slide 142: Note 13. Intangible assets and goodwill, continued
142 CONSOLIDATED FINANCIAL STATEMENTS Note 13. Intangible assets and goodwill, continued 2025 Capitalised develop- Customer Current ment Computer relation- investments SEKm expenditure programs ships Trademarks Goodwill and advances Total Accumulated cost Opening balance 535.6 316.9 288.5 211.5 2,20
Slide 143: Note 13. Intangible assets and goodwill, continued
CONSOLIDATED FINANCIAL STATEMENTS 143 Note 13. Intangible assets and goodwill, continued Research and development expenses in relation to sales, SEKm 8000 200 7000 175 6000 150 5000 125 4000 100 3000 75 Sales 2000 50 Total research and development expenses 1000 25 Research and development expenses r
Slide 144: Note 14. Tangible assets
144 CONSOLIDATED FINANCIAL STATEMENTS Note 14. Tangible assets Accounting policies Assets owned Tangible assets are recognised within the group at cost less accumulated Depreciation of components is based on each component’s estimated use- depreciation and any impairment. Gains or losses arising on
Slide 145: Notes 14 and 15. Tangible assets, leasing
CONSOLIDATED FINANCIAL STATEMENTS 145 Note 14. Tangible assets, continued 2024 Land Equipment, Constructions and build- Plant and tools, fixtures in progress and SEKm ings machinery and fittings advances Total Accumulated cost Opening balance 577.5 419.7 254.8 25.6 1,277.6 Business acquisitions 0.2
Slide 146: Note 15. Leasing, continued
146 CONSOLIDATED FINANCIAL STATEMENTS Note 15. Leasing, continued Significant judgements Significant estimates and assumptions Establishing the lease period Measurement of leasing An assessment is required when establishing the term of the lease. The interest rate used to discount future lease expen
Slide 147: Notes 15 and 16. Leasing, inventory
CONSOLIDATED FINANCIAL STATEMENTS 147 Note 15. Leasing, continued Depreciation and impairment, SEKm 2025 2024 Amortisation is included in the following rows in the income statement: Cost of sold goods -52.7 -49.7 Selling expenses -41.1 -38.1 Administrative expenses -8.6 -9.8 Research and development
Slide 148: Notes 17 to 19. Receivables and prepaid expenses
148 CONSOLIDATED FINANCIAL STATEMENTS Note 17. Accounts receivable Accounting policies Significant estimates and assumptions Accounts receivable Provision for expected credit losses Accounts receivable have a short anticipated term and are measured The provision for expected credit losses is based o
Slide 149: Note 20. Equity and number of shares
CONSOLIDATED FINANCIAL STATEMENTS 149 Note 20. Equity and number of shares Number of shares 2025 2024 Issued number of shares as of 31 December 35,146,020 35,146,020 Weighted average number of shares prior to dilution 35,121,490 35,112,042 Weighted average number of shares after dilution 35,121,490
Slide 150: Notes 21 and 22. Interest-bearing liabilities, other liabilities
150 CONSOLIDATED FINANCIAL STATEMENTS Note 21. Interest-bearing liabilities Accounting policies Long-term liabilities, SEKm 2025 2024 Drawn down loans comprise a financial liability and are measured Bank loans 1,915.8 1,859.8 at amortised cost. Loans are initially recognised at the loan amount Lease
Slide 151: Notes 23 and 24. Accrued expenses, pension provisions
CONSOLIDATED FINANCIAL STATEMENTS 151 Note 23. Accrued expenses and prepaid income SEKm 2025 2024 Personnel-related expenses 187.2 185.9 Interest expenses 8.8 11.0 Audit expenses 8.1 8.2 Other 122.1 151.1 Total 326.2 356.2 The amount for Other of SEK 122.1m includes SEK 44.8m in project-related cost
Slide 152: Note 24. Pension provisions, continued
152 CONSOLIDATED FINANCIAL STATEMENTS Note 24. Provisions for pensions and similar obligations, continued Defined-contribution pension plans SEKm 2025 2024 Costs for defined-contribution pension plans -80.2 -80.6 Defined-benefit pension plans Defined-benefit net debt, reported in statement of financ
Slide 153: Note 25. Other provisions
CONSOLIDATED FINANCIAL STATEMENTS 153 Note 25. Other provisions Accounting policies Provisions Provisions are recognised in the balance sheet when the group has a legal recognised as a separate item in the income statement when these are or informal obligation as a result of a past event, and it is
Slide 154: Note 26. Financial instruments
154 CONSOLIDATED FINANCIAL STATEMENTS Note 26. Financial instruments Accounting policies Financial instruments Financial instruments recognised in the balance sheet include, on the asset the remaining term. See note 17, Accounts receivable. Loans and other side, cash and cash equivalents, accounts r
Slide 155: Notes 27 and 28. Government grants, hyperinflation
CONSOLIDATED FINANCIAL STATEMENTS 155 Note 27. Government grants Note 28. Financial reporting in hyperinflationary economies Accounting policies The Nederman group has subsidiaries in Turkey where the functional currency Government grants are financial contributions from government and is Turkish Li
Slide 156: Notes 31 and 32. Cash flow, alternative performance measures
156 CONSOLIDATED FINANCIAL STATEMENTS Note 31.Cash flow Accounting policies Cash flow statement The cash flow statement was prepared according to with the indirect ognised net, excluding cash and cash equivalents, and are included in cash method. Foreign group companies’ cash flows are restated at a
Slide 157: Note 32. Alternative performance measures, continued
CONSOLIDATED FINANCIAL STATEMENTS 157 Note 32. Alternative performance measures, continued SEKm 2025 2024 SEKm 2025 2024 Adjusted EBITA 626.5 707.6 Net sales 5,782.8 5,899.9 Net sales 5,782.8 5,899.9 Operating capital - average 4,387.9 4,059.9 Adjusted EBITA margin 10.8% 12.0% Capital turnover rate,
Slide 158: Parent company's financial statements
158 PARENT COMPANY’S FINANCIAL STATEMENTS Parent company’s financial statements Income statement for the parent company 1 January - 31 December SEKm Note 2025 2024 Net sales 2, 19 32.8 29.6 Administrative expenses 4, 5, 6, 7 -191.3 -199.8 Research and development expenses -0.1 -0.1 Other operating i
Slide 159: Balance sheet for the Parent company
PARENT COMPANY’S FINANCIAL STATEMENTS 159 Balance sheet for the Parent company 31 December SEKm Note 2025 2024 Assets Intangible assets 11 136.6 183.7 Tangible assets 12 12.5 11.2 Financial fixed assets Participations in group companies 13 2,202.5 2,188.9 Other long-term receivables 14 12.7 15.6 Def
Slide 160: Statement of changes in parent company shareholders' equity
160 PARENT COMPANY’S FINANCIAL STATEMENTS Statement of changes in parent company shareholders’ equity Restricted equity Unrestricted equity Fund for Share Retained earnings Share development premium including net Total SEKm capital Reserves expenditure reserve profit for the year equity Opening equi
Slide 161: Cash flow statement for the Parent company
PARENT COMPANY’S FINANCIAL STATEMENTS 161 Cash flow statement for the Parent company 1 January - 31 December SEKm Note 2025 2024 Operating activities Operating profit/loss -166.9 -167.2 Adjustments for items not included in cash flow 20 35.9 50.3 Dividends received 19 728.4 493.7 Interest received a
Slide 162: Parent company Notes 1, 2 and 4
162 PARENT COMPANY’S FINANCIAL STATEMENTS Note 1. Accounting policies Note 4. Employees The parent company has prepared its annual accounts in accordance with the 2025 2024 Swedish Annual Accounts Act (1995:1554) and RFR 2, Accounting for Legal Average number Entities issued by the Council for Susta
Slide 163: Parent company Notes 7 to 9
PARENT COMPANY’S FINANCIAL STATEMENTS 163 Note 7. Fees and expenses to auditors Note 9. Appropriations SEKm 2025 2024 Accounting policies EY Audit assignment 3.2 1.8 Untaxed reserves Audit-related fee - 1.1 The parent company recognises the difference between deprecia- Other assignments - 0.1 tion/a
Slide 164: Note 11. Intangible assets
164 PARENT COMPANY’S FINANCIAL STATEMENTS Note 11. Intangible assets Accounting policies Capitalised development expenditure Capitalised development expenditure during the year, for devel- opment work performed within the Nederman group on intangible assets, the amount is transferred from unrestrict
Slide 165: Note 12. Tangible assets
PARENT COMPANY’S FINANCIAL STATEMENTS 165 Note 12. Tangible assets 2025 2024 Equipment, Current Equipment, Current tools, fixtures investments tools, fixtures investments SEKm and fittings and advances Total and fittings and advances Total Accumulated cost Opening balance 18.3 8.4 26.7 16.9 6.3 23.2
Slide 166: Note 13. Shares and participations
166 PARENT COMPANY’S FINANCIAL STATEMENTS Note 13. Shares and participations Accounting policies Subsidiaries Subsidiaries are the companies over which Nederman Holding AB has a of subsidiaries’ shares. Shares in subsidiaries and receivables from subsid- controlling influence. Controlling influence
Slide 167: Note 13. Shares and participations, continued
PARENT COMPANY’S FINANCIAL STATEMENTS 167 Note 13. Shares and participations, continued 2025 2024 The parent company’s holdings Carrying Carrying of shares and participations in Corporate Number Owner- amount, amount, group companies identity number Domicile/Country of shares ship share SEKm SEKm Ne
Slide 168: Notes 14 and 18. Other receivables, pledged assets
168 PARENT COMPANY’S FINANCIAL STATEMENTS Note 14. Other receivables Note 18. Pledged assets and contingent liabilities Other receivables which are current assets, SEKm 2025 2024 Accounting policies Computer/license costs 12.7 14.8 Other receivables - 0.8 Financial guarantees Total 12.7 15.6 The par
Slide 169: Notes 20 to 22. Cash flow, appropriation of profit
PARENT COMPANY’S FINANCIAL STATEMENTS 169 Note 20. Cash flow Cash and cash equivalents, SEKm 2025 2024 Subcomponents in cash and cash equivalents: Cash and bank balances 0.2 0.1 Total 0.2 0.1 Adjustments for items not included in cash flow, SEKm 2025 2024 Amortisation 37.4 50.7 Unrealised translatio
Slide 170: Signatures
170 SIGNATURES Signatures The consolidated accounts and the annual report have been pre- activities, position and results and describe the main risks pared in accordance with international accounting standards as and uncertainties facing the parent company and Group com- prescribed in Regulation (EC
Slide 171: Auditor's report
AUDITOR’S REPORT 171 Auditor’s report To the general meeting of the shareholders of Nederman Holding AB (publ), corporate identity number 556576-4205 REPORT ON THE ANNUAL ACCOUNTS AND CONSOLIDATED ACCOUNTS Opinions We have audited the annual accounts and consolidated accounts Our opinions in this re
Slide 172: Key audit matters
172 AUDITOR’S REPORT Valuation of intangible assets with indefinite useful lives Description How our audit addressed this key audit matter Goodwill and other intangible assets with indefinite useful Our audit procedures to evaluate management’s impairment lives represent a significant portion of the
Slide 173: Auditor's report
AUDITOR’S REPORT 173 wise obtained in the audit and assess whether the information ■ Obtain an understanding of the company’s internal control otherwise appears to be materially misstated. relevant to our audit in order to design audit procedures that are appropriate in the circumstances, but not fo
Slide 174: Report on other legal and regulatory requirements
174 AUDITOR’S REPORT REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS Report on the audit of the administration and the proposed appropriations of the company’s profit or loss Opinions measures that are necessary to fulfill the company’s accounting In addition to our audit of the annual accounts an
Slide 175: Auditor's report
AUDITOR’S REPORT 175 detail in the Auditors’ responsibility section. We are independent considers those elements of internal control that are relevant to of Nederman Holding AB (publ) in accordance with professional the preparation of the Esef report by the Board of Directors and ethics for accounta
Slide 176: Auditor's limited assurance report on sustainability statement
176 INNEHÅLLSRUBRIK Auditor’s limited assurance report on Nederman Holding AB’s sustainability statement This is the translation of the auditor´s limited assurance report in Swedish. To the General Meeting of the shareholders Nederman Holding AB, corporate identity number 556576-4205 CONCLUSION mati
Slide 177: Assurance report procedures
INNEHÅLLSRUBRIK 177 dures regarding compliance with ethical requirements, standards ■ Obtaining an understanding of the process by: of professional practice, and applicable laws and regulations. ■ Performing inquiries to understand the sources of infor- mation used by management (e.g. stakeholders d
Slide 178: The Nederman share
178 THE NEDERMAN SHARE The Nederman share Nederman’s ambition is to continuously provide the Swedish ownership was 94.48 percent (93.72). The ten largest financial markets, shareholders and other stakehold- shareholders accounted for 78.5 percent (80.3) of the total num- ers with accurate, consisten
Slide 179: Data per share
THE NEDERMAN SHARE 179 Data per share 2025 2024 2023 2022 2021 Earnings per share after tax, SEK 7.80 9.83 9.71 9.37 8.70 Share price as at 31 December, SEK 169.6 217.0 179.5 172.4 218.0 Market capitalisation, SEKm 5,960.8 7,626.7 6,308.7 6,059.2 7,661.8 Cash flow, SEKm -93.1 -18.8 115.4 133.1 42.1
Slide 180: Definitions
180 DEFINITIONS Definitions PERFORMANCE DEFINITION PURPOSE MEASURE Return Net profit for the year after tax divided by Return on equity shows the return on owners’ capital in accounting terms. This measure is on equity average equity. primarily used to analyse owner profitability over time. Return o
Slide 181: Articles of Association
ARTICLES OF ASSOCIATION 181 Articles of Association Nederman Holding AB (publ) Corp. Reg. No. 556576-4205 1 § COMPANY NAME 11 § RIGHT TO PARTICIPATE IN ANNUAL GENERAL The name of the company is Nederman Holding Aktiebolag. The MEETING company is a public company (publ). Shareholders who wish to part
Slide 182: Annual General Meeting, Dividend, Distribution policy
182 ANNUAL GENER AL MEETING Annual General Meeting Dividend The Annual General Meeting of Nederman Holding AB (publ) will The Board of Directors proposes a dividend of SEK 4.00 (4.00) per take place on Tuesday, 21 April 2026 at 4:00 p.m. share for the 2025 financial year. at Landskronavägen 9 A, Hel
Slide 183: Nederman in motion
Nederman in motion As a globally leading environmental technology company, we create value for our customers, the world and our owners. We are constantly on the move and our task is clear: to protect people, planet and production. Take a deep breath, sit back and watch how we do it. Interview, Sven
Slide 184: Nederman Holding AB contact details
Nederman Holding AB (publ) P.O. Box 602, SE-252 28, Helsingborg, Sweden Visiting address: Landskronavägen 9 A, Helsingborg, Sweden Tel: +46 (0)42 18 87 00 www.nedermangroup.com