Slide 1: Inission AB (publ) Year-end Report January 1 – December 31, 2025
2025 Inission AB (publ) Year-end Report for the period January 1 – December 31, 2025
Slide 2: Summary
Summary Net Sales & EBIT Result (MSEK) Net sales EBIT Result 600 48 500 40 Q4 2025 compared to Q4 2024 Full year 2025 compared to full year 2024 400 32 300 24 » Order intake amounted to 695.8 MSEK (761.3) » Order intake amounted to 2 245.1 MSEK (2 105.0) » Net sales amounted to 657.0 MSEK (531.2) »
Slide 3: CEO review
CEO review Focus on growth and profitability MSEK and AXXE 12,6 MSEK, which corresponds to an teamwork and the improvements that were implemented organic decrease of 2.3%. EBITA for the quarter amounted during the year. A significant part of the recovery is The development from previous quarters con
Slide 4: CEO review continued
» CEO review continued Acquisitions Ahead New orders from key industrial customers (OEMs/Original The autumn has been marked by high M&A activity among We predicted a year ago that the market would most likely Equipment Manufacturers) increased during the quarter, our colleagues within the industry,
Slide 5: Business areas
Business areas Inission (EMS) Enedo (OEM) Contract manufacturing of electronics and mechanics Products within power electronics and systems Key figures Note Q4 2025 Q4 2024 2025 2024 Key figures Note Q4 2025 Q4 2024 2025 2024 Net sales (MSEK) 3 563.4 431.6 1 872.1 1 701.3 Net sales (MSEK) 3 93.6 99.
Slide 6: Significant events 2025
Significant events 2025 Q1 (January–March) 2025 Q2 (April–June) 2025 » On 22 May, Inission inaugurated its factory in Tunis, which has developed into a full-scale EMS provider » On 28 February, Inission AB presented new financial » On 11 April, Nasdaq Stockholm’s company committee offering contract
Slide 7: Significant events continued
» Significant events continued Q3 (July–September) 2025 Q4 (October–December) 2025 » On 14 November, Inission AB announced that it had acquired the remaining 49.9% of outstanding shares in » On 10 July, Inission AB carried out a directed share issue » On 17 October, Inission AB presented the Nominat
Slide 8: Comments
Comments Income statement, Q4 2025 (MSEK) Key figure table Group: Net turnover in the quarter amounted to 657.0 (531.2), (MSEK) Q4 2025 Q4 2024 2025 2024 which represents an increase of 23.7 (-4.0) in the quarter. Other Order intake 695.8 761.3 2 245.1 2 105.0 operating income amounted to 6.8 (7.4).
Slide 9: Comments continued
» Comments continued Parent Company: The operating result for the Group of 105.9 (121.5), and a result Net debt the fourth quarter amounted to 11.5 (3.6). after financial items of 50.1 (91.6), of which FINANCIAL POSITION (MSEK) 31 Dec 2025 31 Dec 2024 currency effects were -14.6 (1.3), and the accou
Slide 10: Comments continued
» Comments continued Right-of-use assets amounted to 233.0 This resulted in a continued strong (236.1), and the change relates to new and equity/asset ratio of 39.7 (39.1) %. Long- terminated leases less depreciation, newly term liabilities increased in conjunction signed leases, and changes in exch
Slide 11: The Share
The Share Largest owners on December 31, 2025, according to Euroclear: Shareholders A-shares B-shares A- and B-shares holding % votes % IFF Konsult AB + Olle Hulteberg 960,000 4,330,153 5,290,153 23.0% 31.2% Stock Option Programs FBM Consulting AB 440,012 4,323,000 4,763,012 20.7% 19.5% Employees an
Slide 12: Dividend Audit
Dividend Audit For the Annual General Meeting 2026, the Board of In addition, we have recognised the final additional This report has not been subject to review by the Directors proposes a dividend of SEK 0.60 per share purchase consideration regarding the acquisition of company’s auditors. for the
Slide 13: Financial statements
Financial statements Consolidated statement of comprehensive income cont’d. Consolidated statement of comprehensive income (MSEK) Note Q4 2025 Q4 2024 2025 2024 (MSEK) Q4 2025 Q4 2024 2025 2024 Net sales 1,2,3 657.0 531.2 2 206.2 2 149.7 Earnings per share, based on profit attributable to Other oper
Slide 14: Consolidated balance sheet
Consolidated balance sheet cont’d. Consolidated balance sheet Assets (MSEK) Note 2025-12-31 2024-12-31 Equity and liabilities (MSEK) Note 2025-12-31 2024-12-31 Non-current assets, Equity Intangible assets Share capital 1.0 0.9 Goodwill 6 220.0 216.2 Other contributed capital 6 323.8 292.6 Capitalise
Slide 15: Consolidated statement of change in equity
Consolidated statement of change in equity Attributable to Parent Company shareholders Other Retained earnings Total equity relating Non- contributed including to Parent Company controlling (MSEK) Share capital capital reserves profit for the period shareholders interest Total equity Opening balance
Slide 16: Consolidated statement of cash flows
Consolidated statement of cash flows cont’d. Consolidated statement of cash flows (MSEK) Q4 2025 Q4 2024 2025 2024 (MSEK) Q4 2025 Q4 2024 2025 2024 Operating activities Financing activities Profit after financial items 5.9 12.8 50.1 91.6 New share issue, net after transaction costs - - 0.9 - Depreci
Slide 17: Parent Company income statement and balance sheet
Parent Company income statement Parent Company balance sheet (MSEK) Q4 2025 Q4 2024 2025 2024 Tillgångar (MSEK) 2025-12-31 2024-12-31 Net sales 13.4 8.8 54.4 35.5 Non-current assets, Other operating income -1.2 -0.7 1.0 0.3 Financial non-current assets Total 12.2 8.1 55.4 35.8 Shares in subsidiaries
Slide 18: Parent Company balance sheet cont'd
cont’d. Parent Company balance sheet Eget kapital och skulder (MSEK) 2025-12-31 2024-12-31 Equity, Restricted equity Share capital 1.0 0.9 Total restricted equity 1.0 0.9 Unrestricted equity Share premium reserve 323.8 292.6 Retained earnings including profit for the period 61.3 74.2 Total unrestric
Slide 19: Notes
Notes Note 1 - Company information Note 2 - Accounting principles the company’s reporting currency unless otherwise stated. Rounding differences may occur in tables and calculations, meaning that reported totals may not always equal the sum Inission AB (publ), corporate ID number 559259-1890, This i
Slide 20: Note 3 - Segment Information and Disclosure on Net Revenue
Note 3 - Segment Information and Disclosure on Net Revenue The Group’s chief operating decision maker is and reported according to the following Munkfors and Malmö (Sweden), Halden Ancona (Italy) and New Jersey (USA) with a the CEO, who evaluates the operating seg- operating segments: and Løkken Ver
Slide 21: Note 3 cont'd
..Note 3 cont’d. Intercompany Intercompany 2025-01-01 » 2025-12-31 (MSEK) Enedo Inission adjustments Total 2024-01-01 » 2024-12-31 (MSEK) Enedo Inission adjustments Total Revenue from external customers 334.1 1 872.1 2 206.2 Revenue from external customers 448.4 1 701.3 2 149.7 Revenue from other se
Slide 22: Note 3 cont'd
..Note 3 cont’d. The tables below show total revenue from external customers distributed by country: 2025-10-01 » 2025-12-31 (MSEK) Enedo Inission Total 2024-10-01 » 2024-12-31 (MSEK) Enedo Inission Total Sweden 1.9 169.2 171.1 Sweden 1.2 192.9 194.1 Finland 9.1 87.9 97.0 Finland 15.6 60.8 76.3 Denm
Slide 23: Note 4 - Loan terms and covenants; Note 5 - Financial instruments
Note 4 - Loan terms and covenants Note 5 - Financial instruments The company has entered into loan In the event of any non-compliance, it may FAIR VALUE MEASUREMENT AND DISCLOSURE (MSEK) agreements that include financial covenants. also be necessary to renegotiate the terms The table below shows fin
Slide 24: Note 5 cont'd
..Note 5 cont’d. The tables below show Inission’s financial liabilities measured at fair value and the level Other long-term securities holdings and long- Financial assets, Level 3 term receivables (unlisted shares) within the fair value hierarchy at which they are reported: Carrying amount 2024-12-
Slide 25: Note 6 - Business acquisitions
Note 6 - Business acquisitions Business acquisitions during the period 2025-01-01 to 2025-12-31 (MSEK) Purchase consideration (MSEK) The Group completed an acquisition during Goodwill: Goodwill mainly relates to Cash 66.9 the period. On 30 June 2025, Inission AB synergies. None of the recognised goo
Slide 26: Note 7 - Warrant programme
Note 7 - Warrant programme Warrant Program 2025 · Market illiquidity discount: 20%, applied Warrant Program 2022 until exercise. Fair value was determined In 2025, employees and Board members in the valuation of the warrants in line with In 2022, employees were offered warrants using the Black & Sch
Slide 27: Related party transactions and reconciliation and definitions
Not 8 - Transaktioner med närstående Not 9 - Avstämningstabell och definitioner (mSEK) (mSEK) Inission AB is the ultimate parent com- All transactions between Inission AB and Inission uses financial measures that are EBITA margin: EBITA as a percentage of pany preparing the consolidated financial it
Slide 28: Note 9 cont'd
..Note 9 cont’d. Organic Net Sales Growth: Net sales Acquired Net Sales Growth (%): Net sales Net Debt/EBITDA: Net debt divided by Book-to-Bill Ratio: Order intake divided (adjusted for acquisitions and divestments) from acquired entities (adjusted for currency) EBITDA. The purpose of this ratio is,
Slide 29: Note 9 cont'd
..Note 9 cont’d. Operating profit (EBIT), EBITA, and EBITDA Q4 2025 Q4 2024 2025 2024 Organic Net Sales Growth, % Q4 2025 Q4 2024 2025 2024 Operating profit (EBIT) 35.9 17.0 105.9 121.5 Net sales 657.0 531.2 2 206.2 2 149.7 Amortization and impairment of intangible assets 0.9 3.4 Net sales, previous
Slide 30: Attestation
Attestation The Board of Directors and the CEO confirm that the Year-end report provides a true and fair overview of the parent company’s and the Group’s operations, position, and results, and describes the significant risks and uncertainties faced by the parent company and the companies included in
Slide 31: About Inission
About Inission What » Enedo (OEM) develops, manufactures, and sells To succeed, we have committed to never settling for less. Inission AB consists of two business areas under the brands customized products and systems within power We aim to lead the way and drive development, keeping Inission and En
Slide 32: www.inissiongroup.com
The Board of Directors of Inission AB hereby presents this Year-end report as of February 19, 2026. Inission AB (publ) Year-end report for the period January 1 – December 31, 2025. Text and graphic design: Inission AB (publ). For further information, please contact: Fredrik Berghel, CEO, Phone: +46