Asker Healthcare Group Ab · OMXSTO:ASKER
Asker Healthcare Group Ab — Q2 2025 Earnings Presentation
15 slides from Asker Healthcare Group Ab's earnings presentation, Jul 22, 2025
Slide 1: Steady first half year, with a focus on acquisitions in Q2
Q2 INTERIM REPORT JANUARY – JUNE 2025 Steady first half year, with a focus on acquisitions in Q2 Johan Falk CEO Thomas Moss CFO 1
Slide 2: Q2 Highlights
Q2 Highlights JANUARY – JUNE 2025 • A solid underlying performance across the Group, with headwinds from FX effects and region North ACQUISITIONS • Adj. EBITA increased by 12% to SEK 378m, of which 7% organic, 8% acquisitions and -3% FX impact 6 of which 4 in Q2 • Net sales up 9% to SEK 3,987m, -4%
Slide 3: Delivering on our financial targets
+20% +65% Delivering on our Adj. EBITA R/RK (EBITA/NWC) growth per year financial targets LTM outcome TARGET >15% TARGET >50% 9.2% 1.8x Adj. EBITA margin Net Debt/EBITDA* TARGET (medium term) >10% TARGET <2.5x 3 *Adjusted for leases and items affecting comparability
Slide 4: Acquisition rate is on track
Acquisition rate is on track Annual sales, Month Acquisition Business Area SEKm* June Scan Modul Completed in July West 400 • 4 new strategic acquisitions June Kirstine Hardam Pending West 200 Q2 May ITAK Completed in July North 90 — adding SEK 715m in sales May MS Labors Central 25 • Broadening the
Slide 5: Explore an acquisition
Explore an acquisition • Based in the Netherlands • Annual sales of SEK 400m • Founded in 1912, has 110 employees across 10 countries • Important complement to our offering – supporting healthcare professionals with comprehensive solutions Scan Modul • Expected to contribute positively to our EBITA
Slide 6: Solid revenue and EBITA growth with strengthened margin in Q2
Financial performance – Group Solid revenue and EBITA growth with strengthened margin in Q2 Amounts in Q2 Q2 H1 H1 LTM H1 2025 SEKm 2025 2024 2025 2024 24/25 Adj. EBITA growth Net sales 3,987 3,669 7,982 7,124 15,883 18% 10% 16% 14% 14% Adj. EBITA 378 338 742 650 1,454 -2% 12% Adj. EBITA 10% 9.5% 9.
Slide 7: Business Area North
Business Area North Solid core business performance; temporarily slower within preparedness in Q2 Amounts in Q2 Q2 H1 H1 LTM H1 2025 SEKm 2025 2024 2025 2024 24/25 • Adj. EBITA growth -7% Net sales 1,265 1,348 2,527 2,581 5,348 ⎯ Organic growth of -7% Adj. EBITA 175 199 352 380 722 ⎯ Acquired growth
Slide 8: Business Area West
Business Area West Strong organic growth with improved margin in West in Q2 Amounts in Q2 Q2 H1 H1 LTM H1 2025 SEKm 2025 2024 2025 2024 24/25 • Adj. EBITA growth 31% Net sales 2,021 1,759 4,029 3,452 7,722 ⎯ Organic growth of 25% Adj. EBITA 169 132 330 252 624 ⎯ Acquired growth of 9% ⎯ Exchange rate
Slide 9: Business Area Central
Business Area Central Strong Q2 performance driven by high acquisition activity in Central Amounts in Q2 Q2 H1 H1 LTM H1 2025 SEKm 2025 2024 2025 2024 24/25 • Adj. EBITA growth 68% Net sales 701 562 1,426 1,091 2,813 ⎯ Organic growth of 11% Adj. EBITA 57 36 112 67 216 ⎯ Acquired growth of 59% ⎯ Exch
Slide 10: R/RK remains strong, reflecting continued efficient working capital utilisation
R/RK remains strong, reflecting continued efficient working capital utilisation R/RK • R/RK amounted to 65.4%, in line with YoY comparison, exceeding target 100% • Continued high capital efficiency across all business area 80% 60% 40% 20% 0% Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1
Slide 11: Cash flow in Q2
Cash flow in Q2 Full-year Q2 2025 Q2 2024 H1 2025 H1 2024 2024 • Lower operating cash flow due to higher levels of working Cash flow from capital and lower cash flow from project-based sales in 211 308 320 545 1227 operating activities North compared to H1 2024 CAPEX -206 -59 -278 -125 -348 • CAPEX
Slide 12: EBITDA growth contributed to continued low leverage level in Q2
EBITDA growth contributed to continued low leverage level in Q2 Net debt/EBITDA* development 30 June 30 June Amounts in SEKm 2025 2024 3x Net debt 2,886 2,702 EBITDA* 1,566 1,314 Net debt/EBITDA* 1.8x 2.1x 2x • Modest increase in net debt due to acquisitions, earnout payments and capex • Leverage re
Slide 13: Q2 in summary
Q2 in summary • Steady performance, with an adj. EBITA growth of 12%, of which 7% organic, 8% acquisitions and -3% FX impact • Strong total growth due to region West and Central, impacted by slower performance in North • On track with 16 acquisitions in the LTM, combined annual sales of SEK 2.5 bill
Slide 14: Q&A
Q&A
Slide 15: Financial calendar
Financial calendar • Extraordinary General Meeting 27 Aug 2025 • Interim report Q3 6 Nov 2025 • Year-end report 2025 10 Feb 2026 We are health in progress Additional information • Improve patient outcome • Reduce total cost of care Thomas Moss, CFO and Head of IR • Ensure a fair and sustainable Tel:
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