Es Energy Save Holding Ab Class B · OMXSTO:ESGR_B
Es Energy Save Holding Ab Class B — Q4 2025 Earnings Presentation
12 slides from Es Energy Save Holding Ab Class B's earnings presentation, Feb 20, 2026
Slide 1: Interim Report 1 January–31 December 2025
Interim Report 1 January–31 December 2025 Positive result for Q4 ending the year 2025 © ES Energy Save 2026-02-20 1
Slide 2: Positive result and strong closing quarter of 2025
Interim Report January–December 2025 Positive result and strong closing quarter of 2025 • Net revenue increased by 33% to 70,3 MSEK (53,0), and it increased by 52% • Strong turnover in the final quarter, in line with expectations compared to the previous third quarter. - In OEM sales due to expected
Slide 3: Strong final quarter of 2025
Strong final quarter of 2025 Net revenue and operating income QUARTER TSEK Change Oct-Dec 2025 Oct-Dec 2024 Net revenue, TSEK +33% 70,329 53,012 Operating income, TSEK +13% 71,396 63,043 120 000 108 149 103 134 100 000 80 000 70 329 71 396 63 043 60 000 57 121 53 893 51 171 53 081 53 012 46 334 46 7
Slide 4: Effective cost saving programme
Effective cost saving programme OPEX TSEK QUARTER Change Oct-Dec 2025 Oct-Dec 2024 Other external costs -40% -9,686 -16,116 Personnel expenses -10% -9,520 -10,577 4
Slide 5: Positive margin
Positive margin EBIT QUARTER Oct-Dec 2025 Oct-Dec 2024 TSEK Gross profit, TSEK 22,860 23,394 Gross margin, net revenue, % 31 25 EBIT, TSEK 1,160 -4,902 EBIT margin, % 1,6 -7,8 Profit/Loss, TSEK 712 -4,855 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 20% 3% 2% 0% -8% -7% -7
Slide 6: Increased Residential sales
Increased Residential sales Net revenue by business area QUARTER TSEK Change Oct-Dec 2025 Oct-Dec 2024 Residential property +39% 66,659 (95%) 47,922 (91%) Commercial property -29% 3,100 (4%) 4,395 (8%) Services and after-sales 570 (1%) 695 (1%) 70,329 53,012 120 000 99 568 100 000 80 000 66 659 60 0
Slide 7: OEM sales in line with expectations
OEM sales in line with expectations QUARTER Net revenue by brand Change Oct-Dec 2025 Oct-Dec 2024 TSEK OEM +41% 51,755 (74%) 36,669 (69%) ES +14% 18,575 (26%) 16,343 (31%) 70,329 53,012 100 000 92 991 90 000 80 000 70 000 60 000 51 855 50 000 45 884 40 000 35 816 36 669 31 621 30 000 27 847 20 000 1
Slide 8: European sales focus
European sales focus Net revenue geographic QUARTER TSEK Change Oct-Dec 2025 Oct-Dec 2024 Scandinavia +33% 6,954 (10%) 5,209 (10%) Europe outside of +33% 63,376 (90%) 47,803 (90%) Scandinavia 70,329 53,012 120 000 100 000 97 860 80 000 63 376 60 000 52 853 45 701 47 803 42 885 40 000 24 656 20 000 1
Slide 9: Strong closing quarter
Strong closing quarter Number of heat pumps sold 3000 2 661 2500 1 918 2000 1 566 1500 1 337 1 284 1 134 1000 496 500 247 0 Jan–mar 2024 Apr–jun 2024 Jul–sep 2024 Oct–dec 2024 Jan–mar 2025 Apr–jun 2025 Jul-sep 2025 Oct-dec 2025 9
Slide 10: Reduced inventory levels
Reduced inventory levels Balance sheet TSEK Change Dec 31 2025 Dec 31 2024 Fixed Assets 15% 74,248 64,679 Current Assets Inventories -15% 84,313 98,855 Current receivables 54% 42,099 27,289 Cash and bank balances -57% 23,072 54,146 Total Assets -9% 223,743 244,969 Equity -13% 157,225 180,300 Provisi
Slide 11: Moving forward
Interim Report January–December 2025 Moving forward Achievements and milestones in the period • Extended distributor network Positive Outlook on 2026 • Maintained and further developed a successful collaboration with Aira within OEM segment • Seasonal downturn in the first half • Successful product
Slide 12: Q&A
Q&A 12