Slides
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9m-2025 RESULTSCONFERENCE CALL 11 NOVEMBER 2025 Martin Jacobsson, CEOCasper Tamm, CFOMagnus Blomberg, Head of IR
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HIGHLIGHTSOrganic growth of 2.2%Q3 adjusted EBITA SEK 136.4m (92.8)margin 9.9% (7.7%)Order backlog SEK 4.1bn, flat organic developmentDelays from the Building Safety Regulator (BSR), affecting Clear LineNet debt/adjusted EBITDA pro forma at 3.76xWaiver regarding covenantAnnounced divestment of Alnova THIRD QUARTER 2025 2 Cities where Fasadgruppen’s subsidiaries are located
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3 NET SALESTotal increase of 14.9% Revenues up 2.2% organically, first time since Q2 2023Continued low activity in new buildTotal Solutions sales SEK 730.9m (750.7)down 2.6%Specialist Solutions sales SEK 508.3m (451.6)up 12.6%Clear Line sales SEK 141.8m - impacted by BSR Q3 2025 02000400060000400800120016003Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25MSEK, LTMMSEK, quarterNet sales per quarterNet sales, LTM+10.1% CAGR (LTM)Q3 2024 Organic FX Acquisitions Q3 2025100010501100115012001250130013501400+2.2%-1.9%+14.6%14.9 % net sales growthMSEK
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4 ADJUSTED EBITAAdjusted EBITA SEK 136.4m (92.8)margin at 9.9% (7.7%)Total Solutions adjusted EBITA SEK 50.5m (77.9)margin of 6.9% (10.4%)Specialist Solutions adjusted EBITA SEK 60.5m (28.2) margin of 11.9% (6.2%)Clear Line adjusted EBITA SEK 47.2mmargin of 33.3% (Estimated BSR effect of 20-30 mSEK)Total adjustments of SEK 13.4m, mainly related to earnout revisions Q3 202520242025Q320242025ΔJan-Dec12mΔQ3Q3SEK million53.4%282.4433.246.9%92.8136.4Adj. EBITA5.7% 8.1%7.7%9.9%Adj. EBITA margin01002003004005000204060801001201401603Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25MSEK, LTMMSEK, quarterAdj. EBITA per quarterAdj. EBITA, LTM+2.1% CAGR (LTM)
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5 ORDER BACKLOGOrder backlog with a flat organic developmentSEK 4.1bn following strong development from Clear Line and Specialist SolutionsOrganic growth in the Swedish entities, third consecutive quarterTotal Solutions order backlog SEK 1 649.3m (1 785.6)Specialist Solutions order backlog SEK 1 138.0m (985.3)Clear Line order backlog SEK 1 288.7m at all time high 30 September 202530 Sep 2024 Organic FX Acquisitions 30 Sep 20251500200025003000350040004500 0100020003000400050003Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25MSEK, quarter+47,1% order backlog growth+8.7% CAGR (LTM)-0.6%+48.8%MSEK-1.1%Order backlog per quarter
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6 CASH FLOWFollowing seasonal patternContinued strong cash conversion at 94.9% 12MQ3 2025 0100200300400500600-500501001502002503Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 Q125 2Q25 3Q25MSEK, LTMMSEK, quarterOperating cash flow per quarterOperating cash flow, LTM+15.4% CAGR (LTM)20242025Q320242025Δ12m12mΔQ3Q3SEK million14.3%421.6481,917.4%126.3148.3Operating cash flow77.156.439.426.3Δ Working capital118.5%94.9%109.1%93.2%Cash conversion
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7 FINANCIAL CAPACITY AND NET DEBTAverage interest rate Jan-Sep 2025: ~5.8% (~6.0%)Interest period of 1-3 monthsNet debt / adjusted EBITDA* pro forma 3.76x30 September 202530 Sep 202430 Sep 2025SEK million1,820,32,352.3Interest-bearing debt190.9242.5Lease liabilities (+)382.4395.0Cash and cash equivalents (-)1,628.82,199.8Total interest-bearing net debt3.7x3.8xNet debt / adjusted EBITDA (x)3.0x3.8xNet debt / adjusted EBITDA* PF (x)1,02,03,04,05,06,005001000150020002500 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 Q125 2Q25 3Q25 (x)MSEKNet debtNet debt/adj. EBITDA (LTM)Target (2.5x)*For covenant purposes the total interest-bearing net debt and adjustments is calculated on a slightly different basis.**Including Clear Line1,01,52,02,53,03,54,04,5 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 (x)Net debt/adj. EBITDA PF (LTM)Current agreed levelTarget (2.5x)**
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8 ALNOVADivestment of AlnovaOptimising the portfolio structure in Specialist SolutionsLimited initial impact on cash flowEarn out structure in placeStrengthens our financial position, improved net debt / adjusted EBITDA* pro forma by roughly 0.15-0.20x*For covenant purposes the total interest-bearing net debt and adjustments is calculated on a slightly different basis.
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REAFFIRMATION - PRIORITIES 2025-2028FOCUSING ON PROFITABLE GROWTH 9 PROFITABILITYGROWTHLEVERAGEGrasp organic opportunitiesContinued consolidation of Nordic marketExpand UK footprintReturn to net debt/EBITDA below 2.5xEnsure continuous improvements in subsidiariesFocus on efficiency in operationsIncrease cooperation within the groupMain priorities 2025-2028Focus 2025
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CONCLUDING REMARKSFirst quarter of organic growth since Q2 2023Delays from the Building Safety Regulator (BSR)Maintaining a close bank dialogueContinued focus on profitability improvements and de-leveragingOptimising the portfolio structure2025 A YEAR OF DELEVERAGING AND PROFITABILITY MEASURES 10
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Q&APRESENTATION MATERIAL IS AVAILABLE ATCORPORATE.FASADGRUPPEN.SE