Addtech AB

Annual Report • Feb 4, 2025

INTERIM REPORT 1 APRIL - 31 DECEMBER 2024

THIRD QUARTER (1 OCTOBER - 31 DECEMBER 2024)

• Net sales increased by 11 percent and amounted to SEK 5,481 million (4,960).
• Operating profit before amortisation of intangible non-current assets (EBITA) increased by 17 percent and amounted to SEK 790 million (674) corresponding to an EBITA margin of 14.4 percent (13.6).
• Operating profit increased by 17 percent and amounted to SEK 661 million (564) corresponding to an operating margin of 12.1 percent (11.4).
• Profit after tax increased by 14 percent and amounted to SEK 456 million (401) and earnings per share before/after dilution amounted to SEK 1.65 (1.45).

PERIOD (1 APRIL - 31 DECEMBER 2024)

• Net sales increased by 7 percent and amounted to SEK 16,046 million (14,928).
• Operating profit before amortisation of intangible non-current assets (EBITA) increased by 14 percent and amounted to SEK 2,385 million (2,097) corresponding to an EBITA margin of 14.9 percent (14.0).
• Operating profit increased by 13 percent and amounted to SEK 2,014 million (1,777) corresponding to an operating margin of 12.6 percent (11.9).
• Profit after tax increased by 13 percent and amounted to SEK 1,397 million (1,240) and earnings per share before/after dilution amounted to SEK 5.05 (4.45). For the latest twelve month period earnings per share before/after dilution amounted to SEK 6.65 (6.10).
• Return on working capital (P/WC) amounted to 74 percent (68).
• Return on equity amounted to 28 percent (29) and the equity ratio amounted to 38 percent (38).
• Cash flow from operating activities amounted to SEK 1,848 million (1,894). For the latest twelve month period, cash flow per share from operating activities amounted to SEK 9.35 (10.05).
• Since the start of the financial year eleven acquisitions have been completed, with total annual sales of about SEK 1,450 million.

Group Summary		3 months		9 months			Rolling 12 months
	31 Dec	31 Dec		31 Dec	31 Dec		31 Dec	31 Mar
SEKm	2024	2023	∆	2024	2023	∆	2024	2024
Net sales	5,481	4,960	11%	16,046	14,928	7%	21,137	20,019
EBITA	790	674	17%	2,385	2,097	14%	3,148	2,860
EBITA-margin %	14.4	13.6		14.9	14.0		14.9	14.3
Profit after financial items	592	516	15%	1,811	1,604	13%	2,390	2,183
Profit for the period	456	401	14%	1,397	1,240	13%	1,848	1,691
Earnings per share before dilution, SEK	1.65	1.45		5.05	4.45		6.65	6.05
Earnings per share after dilution, SEK	1.65	1.45		5.05	4.45		6.65	6.05
Cash flow from operating activities per
share, SEK	-	-		-	-		9.35	9.55
Return on equity, %	28	29		28	29		28	28
Equity ratio, %	38	38		38	38		38	39

Comparisons in parentheses refer to the corresponding period of the previous year, unless stated otherwise.

CEO´S COMMENTS

THIRD QUARTER - STRONG RESULTS IN A CHALLENGING MARKET

Overall, activity was at a high level during the quarter and, despite calendar effects and hesitancy in certain customer segments, total sales increased by 11 percent, 3 percent of which was organic. Profit (EBITA) increased by 17 percent to SEK 790 million with a strengthened margin of 14.4 percent (13.6). Our strong cash flow allows for a high pace of acquisition and we acquired three new companies during the quarter and another one after the end of the period. It is with great pride that I can conclude that our business model and unique culture, based on entrepreneurship and decentralised responsibility, continues to generate profitable growth, even in a challenging market.

MARKET TREND

The business situation with clear differences between, but also within, our most important customer segments persisted. Demand for infrastructure products for national and regional grids was very strong during the quarter. We also saw continued positive demand for products and solutions from manufacturing companies in the defence industry and among marine customers. In total, the business situation was stable within the medical technology, electronics, engineering and process industries. The challenging business situation in building and installation remained unchanged, which also affected demand in special vehicles, where construction machinery in particular had a weak development. Order intake for new projects in the sawmill industry remained at low levels and, in the third quarter, we also saw a weakening of the aftermarket in this segment. From a geographical perspective, the business situation was, on the whole, stable in the Nordic region, with the exception of Finland, where it remained weak. In our principal markets outside the Nordic region the business situation was, on the whole, stable in DACH and weak in Benelux, while it was positive in the UK.

ACQUISITIONS

During the quarter, we continued to acquire well-managed and sustainable companies with high profitability. Over the financial year to date, we have acquired eleven companies with combined annual sales of about SEK 1,450 million, of which eight was outside the Nordic region. The strength of the strategy of strengthening our niche positions with highperforming companies, given a cultural match but regardless of geography, is growing increasingly apparent and we are continuing to execute as planned. Our pipeline of attractive acquisition candidates is well-filled and, combined with our strong financial position, we expect to continue to make acquisitions at a high pace going forward.

OUTLOOK

Despite a continued uncertain macroeconomic situation and continued investment hesitancy in certain customer segments, our confidence in the resilience of our diversified business and our strategic positions with structural growth remains undiminished. A well-filled order book combined with solid order intake in the third quarter makes the short-term outlook good. Addtech has an ambitious growth plan and our ability to quickly adapt to new conditions and address challenges but above all to capture potential, makes us well-equipped for the future and to continue generating value.

Niklas Stenberg President and CEO

GROUP DEVELOPMENT

Sales development

Net sales in the Addtech Group increased in the third quarter by 11 percent to SEK 5,481 million (4,960). The organic growth amounted to 3 percent and acquired growth amounted to 8 percent. Exchange rate changes affect net sales marginally negative corresponding to SEK 27 million.

Net sales in the Addtech Group during the period increased by 7 percent to SEK 16,046 million (14,928). The organic growth amounted to 2 percent and acquired growth amounted to 6 percent. Exchange rate changes affect net sales negatively with 1 percent, corresponding to SEK 114 million.

Profit development

EBITA in the third quarter amounted to SEK 790 million (674), representing an increase of 17 percent. Operating profit increased during the quarter by 17 percent to SEK 661 million (564) and the operating margin amounted to 12.1 percent (11.4). Net financial items amounted to SEK -69 million (-48) and profit after financial items increased by 15 percent to SEK 592 million (516).

Profit after tax increased by 14 percent and amounted to SEK 456 million (401) corresponding to earnings per share before/after dilution of SEK 1.65 (1.45).

EBITA for the period amounted to SEK 2,385 million (2,097), representing an increase of 14 percent. Operating profit increased during the period by 13 percent to SEK 2,014 million (1,777) and the operating margin amounted to 12.6 percent (11.9). Net financial items were SEK -203 million (-173) and profit after financial items increased by 13 percent to SEK 1,811 million (1,604).

Profit after tax for the period increased by 13 percent to SEK 1,397 million (1,240) and the effective tax rate amounted to 23 percent (23). Earnings per share before/after dilution for the period amounted to SEK 5.05 (4.45). For the latest twelve month period, earnings per share before/after dilution amounted to SEK 6.65 (6.10).

Net sales and EBITA margin, rolling 12 months

DEVELOPMENT IN THE BUSINESS AREAS

AUTOMATION

Net sales in Automation increased in the third quarter by 6 percent to SEK 920 million (868) and EBITA increased by 1 percent to SEK 105 million (104). Net sales during the period increased by 2 percent to SEK 2,667 million (2,627) and EBITA amounted to SEK 322 million (327).

Market

Overall, the business situation was favourable for the Automation business area in the third quarter of the year. Although the sales trend was favourable, margins were impacted negatively by calendar effects and an unfavourable product mix. The market situation varied between the different market segments – it was stable for companies operating in medical technology, the engineering segment and defence, while it was, on the whole, weak for process industries.

ELECTRIFICATION

Net sales in Electrification increased in the third quarter by 7 percent to SEK 1,072 million (1,007) and EBITA increased by 15 percent to SEK 129 million (112). Net sales during the period increased by 7 percent to SEK 3,260 million (3,060) and EBITA increased by 11 percent to SEK 420 million (379).

Market

The Electrification business area experienced a strong market position in the third quarter and favourable sales growth. Demand was weak from customers in building and installation, while it was stable in energy, special vehicles and electronics. Demand was strongest in the engineering segment, medical technology and the defence industry and improved in data and telecom. The revaluation of contingent purchase considerations affected profit for the quarter positively by about SEK 3 million.

ENERGY

Net sales in Energy increased in the third quarter by 22 percent to SEK 1,599 million (1,306) and EBITA increased by 43 percent to SEK 245 million (171). Net sales during the period increased by 12 percent to SEK 4,510 million (4,031) and EBITA increased by 24 percent to SEK 671 million (541).

Market

The Energy business area experienced a continued strong market position in the third quarter and very good sales growth. Demand was highly favourable for infrastructure products for the conversion and extension of national and regional grids, as well as for niche products for electrical transmission, and products and solutions for data centres. On the whole, the market situation was stable in the expansion of fiber-optic networks and the engineering segment, while it remained weak in building and installation. The market situation was also positive for the units operating in wind power and traffic safety.

INDUSTRIAL SOLUTIONS

Net sales in Industrial Solutions increased in the third quarter by 7 percent to SEK 968 million (906) and EBITA increased by 4 percent to SEK 195 million (188). Net sales during the period increased by 4 percent to SEK 2,783 million (2,664) and EBITA increased by 10 percent to SEK 590 million (539).

Market

On the whole, the business situation for the Industrial Solutions business area was favourable in the third quarter. Sales were favourable, with acquisitions contributing to the positive trend. The market situation remained weak for the companies exposed to the forestry and sawmill industry, as well as for companies within special vehicles. The market situation of the companies operating in the engineering sector was weak, while it was favourable in waste and recycling. The business area was affected positively by an unrealised exchange rate gain of about SEK 2 million over the quarter.

PROCESS TECHNOLOGY

Net sales in Process Technology increased in the third quarter by 6 percent to SEK 930 million (878) and EBITA increased by 3 percent to SEK 122 million (119). Net sales during the period increased by 11 percent to SEK 2,846 million (2,565) and EBITA increased by 13 percent to SEK 400 million (355).

Market

On the whole, the Process Technology business area experienced a stable market position in the third quarter, although with variations between market segments. Sales were negatively affected by a weak business situation for the companies operating in aftermarket and services for the forest industry and by the effects of customers' postponed investment decisions on projects. On the whole, demand was stable in medical technology, the engineering segment and the process industry and favourable in the marine segment, while it was weak in the energy, forest and special vehicles segments. The margin was negatively affected by a weaker product mix.

OTHER FINANCIAL INFORMATION

Profitability, financial position and cash flow

The return on equity at the end of the period was 28 percent (29) and return on capital employed was 22 percent (22). Return on working capital P/WC (EBITA in relation to working capital) amounted to 74 percent (68).

At the end of the period the equity ratio amounted to 38 percent (38). Equity per share, excluding non-controlling interest, totalled SEK 24.50 (20.75). The Group's net debt at the end of the period amounted to SEK 5,342 million (4,543), excluding pension liabilities of SEK 261 million (249). The net debt/equity ratio, calculated on the basis of net debt excluding provisions for pensions amounted to 0.8 (0.7).

Cash and cash equivalents consisting of cash and bank equivalents and approved but non-utilised credit facilities amounted to SEK 2,173 million (1,762) at 31 December 2024.

Cash flow from operating activities amounted to SEK 1,848 million (1,894) during the period. Company acquisitions and disposals including settlement of contingent consideration regarding acquisitions implemented in previous years amounted to SEK 1,216 million (1,121). Investments in non-current assets totalled SEK 168 million (138) and disposal of non-current assets amounted to SEK 19 million (15). Repurchase of call options amounted to SEK 67 million (32). Exercised and issued call options totalled SEK 44 million (45). Dividend paid to the shareholders of the Parent Company totalled SEK 755 million (674), corresponding to SEK 2.80 (2.50) per share. The dividend was paid out in the second quarter.

Employees

At the end of the period, the number of employees was 4,430 compared to 4,175 at the beginning of the financial year. During the period, completed acquisitions resulted in an increase of the number of employees by 277. The average number of employees in the latest twelve month period was 4,274.

Ownership structure

At the end of the period the share capital amounted to SEK 51.1 million.

	Number of	Number of	Percentage of	Percentage of
Class of shares	shares	votes	capital	votes
Class A shares, 10 votes per share	12,864,384	128,643,840	4.7%	33.1%
Class B shares, 1 vote per share	259,929,600	259,929,600	95.3%	66.9%
Total number of shares before repurchases	272,793,984	388,573,440	100.0%	100.0%
Repurchased class B shares	-2,942,312		1.1%	0.8%
Total number of shares after repurchases	269,851,672

Addtech has four outstanding call option programmes for a total of 2,295,275 shares. Call options issued on repurchased shares entail a dilution effect of about 0.2 percent during the latest twelve month period. Addtech's own shareholdings fully meet the needs of the outstanding call option programmes.

Outstanding	Number of	Corresponding	Proportion of
programme	options	number of shares	total shares	Exercise price	Expiration period
2024/2028	639,925	639,925	0.2%	388.80	6 Sep 2027 - 9 Jun 2028
2023/2027	674,500	674,500	0.2%	221.00	7 Sep 2026 - 9 Jun 2027
2022/2026	825,910	825,910	0.3%	180.10	8 Sep 2025 - 10 Jun 2026
2021/2025	154,940	154,940	0.1%	214.40	9 Sep 2024 - 11 Jun 2025
Total	2,295,275	2,295,275

Acquisitions and disposal

During the period, 1 April to 30 September 2024 the following acquisitions were completed; Romani Components Srl, Italy, was acquired to become part of the Automation business area. Nuova Elettromeccanica Sud S.p.A., Italy, was acquired to become part of the Energy business area. Novomotec GmbH, Germany, and Cell Pack Solutions Ltd., Great Britain, were acquired to become part of the Electrification business area. GoDrive AS, Norway, and C. Gunnarssons Verkstads AB, Sweden, were acquired to become part of the Industrial Solutions business area. Analytical Solutions and Products B.V., Netherlands, were acquired to become part of the Process Technology business area.

On 1 October, 85 percent of the shares in PGS Tec GmbH, Germany, was acquired to become part of the Process Technology business area. PGS designs, assembles and installs customised water and gas supply systems to pharmaceutical, industrial and laboratory customers. The offering covers the entire spectrum of pipeline infrastructure, including valves, instrumentation and automation as well as service and maintenance. The company has 15 employees and sales of around EUR 7 million.

On 4 November, Unilite A/S, Denmark, was acquired to become part of the Energy business area. Unilite develops, manufactures and sells energy-efficient fire safety- and ventilation solutions for industrial, commercial and public buildings. The company has 78 employees and sales of around DKK 210 million.

On 5 November, Nanosystec GmbH, Germany, was acquired to become part of the Electrification business area. Nanosystec develops, produces and sells production equipment primarily for manufacture of opto-electronics and precision mechanics to customers in the data communications, medical technology and semiconductor industries. The company has 20 employees and sales of around EUR 7.8 million.

The purchase price allocation calculations for the acquisitions completed during the period 1 April - 31 December 2023 have now been finalised. No significant adjustments have been made to the calculations. Acquisitions completed as of the 2023/2024 financial year are distributed among the Group's business areas as follows:

			Net
		Acquired	sales,	Number of
Acquisitions 2023/2024	Closing	share, %	SEKm*	employees*	Business Area
INDAG Maschinenbau GmbH, Germany	April, 2023	90	55	40	Process Technology
Clyde Holding Ltd., Great Britain	April, 2023	100	150	49	Process Technology
Feritech Global Ltd., Great Britain	May, 2023	90	55	21	Industrial Solutions
Electrum Automation AB, Sweden	June, 2023	100	80	22	Electrification
Darby Manufacturing Ltd., Canada	June, 2023	100	50	14	Industrial Solutions
S. Tygesen Energi A/S, Denmark	June, 2023	100	75	3	Energy
Control Cutter AS, Norway	October, 2023	89	160	18	Industrial Solutions
BV Teknik A/S, Denmark	November, 2023	100	85	24	Automation
Kemic Vandrens A/S, Denmark	January, 2024	80	95	20	Process Technology
Crescocito AB, Sweden	February, 2024	100	60	10	Industrial Solutions
			Net
		Acquired	sales,	Number of
Acquisitions 2024/2025	Closing	share, %	SEKm*	employees*	Business Area
Novomotec GmbH, Germany	April, 2024	100	80	9	Electrification
Cell Pack Solutions Ltd., Great Britain	April, 2024	90	75	30	Electrification
GoDrive AS, Norway	April, 2024	100	75	5	Industrial Solutions
Nuova Elettromeccanica Sud S.p.A., Italy	June, 2024	100	160	32	Energy
C. Gunnarssons Verkstads AB, Sweden	July, 2024	89	200	45	Industrial Solutions
Analytical Solutions and Products B.V.,
Netherlands	July, 2024	100	140	20	Process Technology
Romani Components Srl, Italy	July, 2024	80	125	23	Automation
PGS Tec GmbH, Germany	October, 2024	85	80	15	Process Technology
Unilite A/S, Denmark	November, 2024	100	325	78	Energy
Nanosystec GmbH, Germany	November, 2024	100	90	20	Electrification

* Refers to assessed condition at the time of acquisition on a full-year basis.

If all acquisitions which have taken effect during the period had been completed on 1 April 2024, their impact would have been an estimated SEK 1,050 million on Group net sales, about SEK 130 million on operating profit and about SEK 95 million on profit after tax for the period.

Addtech normally employs an acquisition structure comprising basic purchase consideration and contingent consideration. The outcome of contingent purchase considerations is determined by the future earnings reached by the companies and is subject to a fixed maximum level. Of considerations not yet paid for acquisitions during the period, the discounted value amounts to SEK 216 million. The contingent purchase considerations fall due for payment within three years and the outcome is subject to a maximum of SEK 255 million.

Transaction costs for acquisitions that resulted in an ownership transfer during the period amounted to SEK 20 million (25) and are reported under Selling expenses.

Revaluation of contingent consideration had a negative net effect of SEK 8 million (5) during the period. The impact on profits is reported under Other operating income and Other operating expenses, respectively.

According to the preliminary acquisitions analyses, the assets and liabilities included in the acquisitions were as follows, during the period:

Fair value
SEKm	31 Dec 2024	31 Dec 2023
Intangible non-current assets	764	644
Other non-current assets	93	125
Inventories	289	131
Other current assets	554	371
Deferred tax liability/tax asset	-205	-163
Other liabilities	-477	-256
Acquired net assets	1,018	852
1) Goodwill	766	638
2) Non-controlling interests	-108	-84
3) Consideration	1,676	1,406
Less: cash and cash equivalents in acquired businesses	-312	-186
Less: consideration not yet paid	-270	-250
Effect on the Group's cash and cash equivalents	1,094	970

1) Goodwill is justified by expected future sales trend and profitability as well as the personnel included in the acquired companies.2) Non-controlling interests have been measured at fair value, which entails that goodwill is also reported for non-controlling interests.

3) The consideration is stated excluding transaction costs for the acquisitions.

Parent Company

Parent Company's net sales during the period amounted to SEK 83 million (71) and profit after financial items was SEK 29 million (-4). Net investments in non-current assets were SEK 0 million (0). The Parent Company's financial net debt was SEK 82 million (142) at the end of the period.

OTHER DISCLOSURES

Accounting policies

The interim report has been prepared in accordance with IFRS as adopted by the EU, with IAS 34 Interim Financial Reporting being applied. Apart from in the financial statements and their accompanying notes, disclosures in accordance with IAS 34.16A also appear in other parts of the interim report. The interim report for the Parent Company has been prepared in accordance with the Annual Accounts Act and the Securities Market Act, which is in accordance with the provisions of RFR 2 Accounting for Legal Entities.

In the interim report, the same accounting principles and bases of calculation have been applied as in the most recent annual report. There are no new IFRS or IFRIC pronouncements endorsed by the EU that are applicable for Addtech or that have a significant impact on the Group's result of operations and position in 2024/2025.

Alternative performance measures

The Company presents certain financial measures in the interim report that are not defined according to IFRS. The Company believes that these measures provide valuable supplemental information to investors and the Company's management as they allow for evaluation of trends and the Company's performance. Since all companies do not calculate financial measures in the same way, they are not always comparable to measures used by other companies. These financial measures should therefore not be considered to be a replacement for measurements as defined under IFRS. For definitions and reconciliation tables of the performance measures that Addtech uses, please see page 18-21.

Risks and factors of uncertainty

Addtech's profit and financial position, as well as its strategic position, are affected by a number of internal factors under Addtech's control and by a number of external factors over which Addtech has limited influence. The risk factors of greatest significance to Addtech are the economic situation, or other events affecting the economy, such as the geopolitical situation, in combination with structural changes and the competitive situation.

Please see section Risks and uncertainties (page 58-61) in the annual report for 2023/2024 for further details.

The Parent Company is indirectly affected by the above risks and uncertainty factors due to its role in the organisation.

Transactions with related parties

No transactions between Addtech and related parties that have significantly affected the Group's or the parent company's position and its earnings have taken place during the period.

Seasonal effects

Addtech's sales of high-tech products and solutions in the manufacturing industry and infrastructure are not subject to major seasonal variations. The number of production days and customers' demand and willingness to invest can vary over the quarters.

Nomination committee

The 2024 Annual General Meeting authorised the Board Chairman to establish a nomination committee for upcoming elections to the Board, by appointing members among representatives of the five shareholders who controlled the largest number of votes in the Company at 31 December 2024, to serve on the nomination committee. In accordance with the above, the committee comprises these appointed members: Fredrik Börjesson (appointed by Tisenhult Invest AB), Henrik Hedelius (appointed by Tom Hedelius), Marianne Nilsson (appointed by Swedbank Robur Fonder), Leif Almhorn (appointed by SEB Investment Management) and Per Trygg (appointed by Lannebo Fonder). Information on how to contact the committee is available on the Addtech website.

Events after the end of the period

On January 15, Coel Motori S.r.l., Italy, was acquired to become part of the Industrial Solutions business area. Coel is a manufacturer and supplier of electric break motors and patented brake modules for industrial applications in the European market. The company has 24 employees and sales of around EUR 8 million.

A preliminary purchase price allocation has not yet been completed.

Stockholm February 4, 2025

Niklas Stenberg President and CEO

This report has not been subject to review by the company's auditor.

FURTHER INFORMATION

Publication

This information is information that Addtech AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, at 8.15 a.m. CET on 4 February 2025.

Future information

2025-05-15 Year-end report 1 April 2024 - 31 March 2025 2025-07-15 Interim report 1 April - 30 June 2025 2025-08-27 Annual General Meeting 2025 will be held at IVA, Grev Turegatan 16, Stockholm at 4.00 p.m.

The Group's annual report for 2024/2025 will be published on Addtech's website in July 2025.

For further information, please contact:

Niklas Stenberg, President and CEO, +46 8 470 49 00 Malin Enarson, CFO, +46 705 979 473

BUSINESS AREA

Net sales by business area	2024/2025				2023/2024
Quarterly data, SEKm	Q3	Q2	Q1	Q4	Q3	Q2	Q1
Automation	920	837	910	957	868	862	897
Electrification	1,072	1,069	1,119	1,040	1,007	1,029	1,024
Energy	1,599	1,452	1,459	1,276	1,306	1,297	1,428
Industrial Solutions	968	847	968	930	906	835	923
Process Technology	930	929	987	899	878	863	824
Group items	-8	-7	-5	-11	-5	-7	-7
Addtech Group	5,481	5,127	5,438	5,091	4,960	4,879	5,089

EBITA by business area	2024/2025				2023/2024
Quarterly data, SEKm	Q3	Q2	Q1	Q4	Q3	Q2	Q1
Automation	105	100	117	132	104	114	109
Electrification	129	141	150	135	112	137	130
Energy	245	214	212	142	171	172	198
Industrial Solutions	195	179	216	215	188	194	157
Process Technology	122	135	143	143	119	124	112
Group items	-6	-5	-7	-4	-20	-14	-10
EBITA	790	764	831	763	674	727	696
Depr. of intangible non-current assets	-129	-124	-118	-114	-110	-109	-101
– of which acquisitions	-121	-116	-111	-107	-104	-101	-96
Operating profit	661	640	713	649	564	618	595

Net sales	3 months			9 months	Rolling 12 months
SEKm	31 Dec 2024	31 Dec 2023	31 Dec 2024	31 Dec 2023	31 Dec 2024	31 Mar 2024
Automation	920	868	2,667	2,627	3,624	3,584
Electrification	1,072	1,007	3,260	3,060	4,300	4,100
Energy	1,599	1,306	4,510	4,031	5,786	5,307
Industrial Solutions	968	906	2,783	2,664	3,713	3,594
Process Technology	930	878	2,846	2,565	3,745	3,464
Group items	-8	-5	-20	-19	-31	-30
Addtech Group	5,481	4,960	16,046	14,928	21,137	20,019

EBITA and EBITA-margin	3 months				9 months				Rolling 12 months
	31 Dec 2024			31 Dec 2023		31 Dec 2024		31 Dec 2023	31 Dec 2024		31 Mar 2024
	SEKm	%	SEKm	%	SEKm	%	SEKm	%	SEKm	%	SEKm	%
Automation	105	11.3	104	11.9	322	12.1	327	12.4	454	12.5	459	12.8
Electrification	129	12.0	112	11.2	420	12.9	379	12.4	555	12.9	514	12.5
Energy	245	15.3	171	13.1	671	14.9	541	13.4	813	14.0	683	12.9
Industrial Solutions	195	20.2	188	20.6	590	21.2	539	20.2	805	21.7	754	21.0
Process Technology	122	13.2	119	13.5	400	14.1	355	13.8	543	14.5	498	14.4
Group items	-6		-20		-18		-44		-22		-48
EBITA	790	14.4	674	13.6	2,385	14.9	2,097	14.0	3,148	14.9	2,860	14.3
Depr. of intangible non
current assets	-129		-110		-371		-320		-485		-434
– of which acquisitions	-121		-104		-348		-301		-455		-408
Operating profit	661	12.1	564	11.4	2,014	12.6	1,777	11.9	2,663	12.6	2,426	12.1

DISAGGREGATION OF REVENUE

Net sales by the customer's geographical location
				Industrial	Process	Group	Addtech
SEKm	Automation	Electrification	Energy	Solutions	Technology	items	Group
Sweden	249	304	394	323	145	-	1,415
Denmark	168	79	268	9	172	-	696
Finland	135	104	137	148	83	0	607
Norway	66	80	266	84	147	-	643
Other Europe	269	441	433	239	270	-	1,652
Other countries	31	63	100	164	110	-	468
Group items	2	1	1	1	3	-8	-
Total	920	1,072	1,599	968	930	-8	5,481

Net sales by the customer's				9 months
geographical location	31 Dec 2024
				Industrial	Process	Group	Addtech
SEKm	Automation	Electrification	Energy	Solutions	Technology	items	Group
Sweden	723	923	1,111	929	445	-	4,131
Denmark	487	240	756	27	526	-	2,036
Finland	393	317	387	426	254	0	1,777
Norway	190	244	750	240	449	-	1,873
Other Europe	779	1,341	1,221	686	828	-	4,855
Other countries	90	192	283	472	337	-	1,374
Group items	5	3	2	3	7	-20	-
Total	2,667	3,260	4,510	2,783	2,846	-20	16,046

Net sales by the customer's	3 months
geographical location	31 Dec 2023
				Industrial	Process	Group	Addtech
SEKm	Automation	Electrification	Energy	Solutions	Technology	items	Group
Sweden	209	256	315	267	178	-	1,225
Denmark	166	65	222	8	140	0	601
Finland	153	110	89	193	88	-	633
Norway	56	80	254	61	121	-	572
Other Europe	256	443	352	233	263	-	1,547
Other countries	27	53	74	142	86	-	382
Group items	1	0	0	2	2	-5	-
Total	868	1,007	1,306	906	878	-5	4,960

Net sales by the customer's				9 months
geographical location				31 Dec 2023
				Industrial	Process	Group	Addtech
SEKm	Automation	Electrification	Energy	Solutions	Technology	items	Group
Sweden	632	778	971	784	519	-	3,684
Denmark	501	197	686	25	408	0	1,817
Finland	465	332	274	567	258	-	1,896
Norway	171	244	784	180	354	-	1,733
Other Europe	774	1,346	1,087	686	769	-	4,662
Other countries	81	160	228	418	249	-	1,136
Group items	3	3	1	4	8	-19	-
Total	2,627	3,060	4,031	2,664	2,565	-19	14,928

				3 months
Net sales per customer's segment		31 Dec 2024
				Industrial	Process	Group	Addtech
SEKm	Automation	Electrification	Energy	Solutions	Technology	items	Group
Building & Installation	50	62	264	44	26	-	446
Data & Telecommunications	39	45	157	1	1	-	243
Electronics	47	252	63	3	4	-	369
Energy	59	141	758	10	165	-	1,133
Vehicles	56	155	20	306	35	-	572
Medical technology	117	147	7	2	77	-	350
Mechanical industry	248	96	108	129	81	-	662
Forestry & Process	109	29	33	302	375	-	848
Transport	35	20	95	82	135	-	367
Other	158	124	93	88	28	0	491
Group items	2	1	1	1	3	-8	-
Total	920	1,072	1,599	968	930	-8	5,481

				9 months
Net sales per customer's segment				31 Dec 2024
				Industrial	Process	Group	Addtech
SEKm	Automation	Electrification	Energy	Solutions	Technology	items	Group
Building & Installation	143	189	744	127	79	-	1,282
Data & Telecommunications	114	135	445	2	2	-	698
Electronics	137	767	177	9	13	-	1,103
Energy	170	429	2,139	30	507	-	3,275
Vehicles	163	472	55	880	107	-	1,677
Medical technology	340	446	20	6	235	-	1,047
Mechanical industry	719	292	304	371	248	-	1,934
Forestry & Process	315	89	94	866	1,149	-	2,513
Transport	102	61	269	235	414	-	1,081
Other	459	377	261	254	85	0	1,436
Group items	5	3	2	3	7	-20	-
Total	2,667	3,260	4,510	2,783	2,846	-20	16,046

				3 months
Net sales per customer's segment				31 Dec 2023
				Industrial	Process	Group	Addtech
SEKm	Automation	Electrification	Energy	Solutions	Technology	items	Group
Building & Installation	41	68	254	25	24	-	412
Data & Telecommunications	40	41	91	0	1	-	173
Electronics	60	254	54	2	5	0	375
Energy	43	151	606	8	149	-	957
Vehicles	57	163	14	321	48	-	603
Medical technology	146	115	7	5	52	-	325
Mechanical industry	227	87	74	91	113	-	592
Forestry & Process	100	19	23	299	310	-	751
Transport	37	19	132	56	143	-	387
Other	116	90	51	97	31	-	385
Group items	1	0	0	2	2	-5	-
Total	868	1,007	1,306	906	878	-5	4,960

				9 months
Net sales per customer's segment				31 Dec 2023
				Industrial	Process	Group	Addtech
SEKm	Automation	Electrification	Energy	Solutions	Technology	items	Group
Building & Installation	122	207	782	75	71	-	1,257
Data & Telecommunications	120	123	282	1	3	-	529
Electronics	181	772	167	8	13	0	1,141
Energy	130	458	1,871	22	436	-	2,917
Vehicles	174	495	42	943	141	-	1,795
Medical technology	443	350	22	14	153	-	982
Mechanical industry	687	264	229	269	330	-	1,779
Forestry & Process	303	59	71	880	904	-	2,217
Transport	112	57	407	164	416	-	1,156
Other	352	272	157	284	90	-	1,155
Group items	3	3	1	4	8	-19	-
Total	2,627	3,060	4,031	2,664	2,565	-19	14,928

CONSOLIDATED INCOME STATEMENT, CONDENSED

	3 months			9 months	Rolling 12 months
	31 Dec	31 Dec	31 Dec	31 Dec	31 Dec	31 Mar
SEKm	2024	2023	2024	2023	2024	2024
Net sales	5,481	4,960	16,046	14,928	21,137	20,019
Cost of sales	-3,740	-3,389	-10,912	-10,246	-14,338	-13,672
Gross profit	1,741	1,571	5,134	4,682	6,799	6,347
Selling expenses	-825	-757	-2,362	-2,169	-3,125	-2,932
Administrative expenses	-277	-240	-795	-724	-1,050	-979
Other operating income and expenses	22	-10	37	-12	39	-10
Operating profit	661	564	2,014	1,777	2,663	2,426
of sales % net as -	12.1	11.4	12.6	11.9	12.6	12.1
Financial income and expenses	-69	-48	-203	-173	-273	-243
Profit after financial items	592	516	1,811	1,604	2,390	2,183
% of sales net as -	10.8	10.4	11.3	10.7	11.3	10.9
Income tax expense	-136	-115	-414	-364	-542	-492
Profit for the period	456	401	1,397	1,240	1,848	1,691
Profit for the period attributable to:
Equity holders of the Parent Company	445	387	1,362	1,199	1,795	1,632
Non-controlling interests	11	14	35	41	53	59
Earnings per share before dilution, SEK	1.65	1.45	5.05	4.45	6.65	6.05
Earnings per share after dilution, SEK	1.65	1.45	5.05	4.45	6.65	6.05
Average number of shares after
repurchases, '000s	269,840	269,662	269,818	269,598	269,799	269,634
Number of shares at end of the period,
'000s	269,852	269,737	269,852	269,737	269,852	269,779

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME, CONDENSED

	3 months			9 months	Rolling 12 months
	31 Dec	31 Dec	31 Dec	31 Dec	31 Dec	31 Mar
SEKm	2024	2023	2024	2023	2024	2024
Profit for the period	456	401	1,397	1,240	1,848	1,691
Components that will be reclassified to
profit for the year
Cash flow hedges	-	-7	-	-7	4	-3
Foreign currency translation differences for
the period	141	-273	8	-58	250	184
Components that will be reclassified not to
profit for the year
Actuarial effects of the net pension
obligation	9	-40	-15	-24	-9	-18
Other comprehensive income	150	-320	-7	-89	245	163
Total comprehensive income	606	81	1,390	1,151	2,093	1,854
Total comprehensive income attributable
to:
Equity holders of the Parent Company	590	76	1,356	1,113	2,033	1,790
Non-controlling interests	16	5	34	38	60	64

CONSOLIDATED BALANCE SHEET, CONDENSED

SEKm	31 Dec 2024	31 Dec 2023	31 Mar 2024
Goodwill	5,482	4,544	4,716
Other intangible non-current assets	3,187	2,709	2,750
Property, plant and equipment	1,502	1,276	1,325
Other non-current assets	73	64	74
Total non-current assets	10,244	8,593	8,865
Inventories	3,498	3,262	3,125
Current receivables	3,816	3,354	3,869
Cash and cash equivalents	1,075	859	798
Total current assets	8,389	7,475	7,792
Total assets	18,633	16,068	16,657
Total equity	6,997	6,059	6,478
Interest-bearing provisions	261	249	241
Non-interest-bearing provisions	893	724	767
Non-current interest-bearing liabilities	5,039	3,766	3,892
Non-current non-interest-bearing liabilities	23	20	25
Total non-current liabilities	6,216	4,759	4,925
Non-interest-bearing provisions	132	100	109
Current interest-bearing liabilities	1,378	1,636	1,333
Current non-interest-bearing liabilities	3,910	3,514	3,812
Total current liabilities	5,420	5,250	5,254
Total equity and liabilities	18,633	16,068	16,657

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY, CONDENSED

SEKm	31 Dec 2024	31 Dec 2023	31 Mar 2024
Opening balance	6,478	5,573	5,573
Exercised, issued and repurchased options	-23	13	9
Repurchase of treasury shares	-	-	-
Dividend, ordinary	-755	-674	-674
Dividend, non-controlling interests	-32	-48	-48
Change, non-controlling interests	108	73	93
Option debt, acquisition	-169	-29	-329
Total comprehensive income	1,390	1,151	1,854
Closing balance	6,997	6,059	6,478

CONSOLIDATED CASH FLOW STATEMENT, CONDENSED

	3 months		9 months		Rolling 12 months
	31 Dec	31 Dec	31 Dec	31 Dec	31 Dec	31 Mar
SEKm	2024	2023	2024	2023	2024	2024
Profit after financial items	592	516	1,811	1,604	2,390	2,183
Adjustment for items not included in cash flow	220	197	714	630	926	842
Income tax paid	-218	-119	-466	-312	-676	-522
Changes in working capital	59	150	-211	-28	-111	72
Cash flow from operating activities	653	744	1,848	1,894	2,529	2,575
Net investments in non-current assets	-43	-54	-149	-123	-205	-179
Acquisitions and disposals	-351	-404	-1,216	-1,121	-1,398	-1,303
Cash flow from investing activities	-394	-458	-1,365	-1,244	-1,603	-1,482
Dividend paid to shareholders	-	-	-755	-674	-755	-674
Repurchase of own shares/change of options	39	44	-23	13	-27	9
Other financing activities	-285	-310	569	274	38	-257
Cash flow from financing activities	-246	-266	-209	-387	-744	-922
Cash flow for the period	13	20	274	263	182	171
Cash and cash equivalents at beginning of period	1,032	867	798	606	859	606
Exchange differences on cash and cash equivalents	30	-28	3	-10	34	21
Cash and cash equivalents at end of period	1,075	859	1,075	859	1,075	798

FAIR VALUES ON FINANCIAL INSTRUMENTS

	31 Dec 2024			31 Mar 2024
	Carrying			Carrying
SEKm	amount	Level 2	Level 3	amount	Level 2	Level 3
Derivatives - fair value, hedge instruments	-	-	-	-	-	-
Derivatives - fair value through profit	7	7	-	7	7	-
Total financial assets at fair value per level	7	7	-	7	7	-
Derivatives - fair value, hedge instruments	-	-	-	-	-	-
Derivatives - fair value through profit	4	4	-	20	20	-
Contingent considerations - fair value through profit	477	-	477	360	-	360
Total financial liabilities at fair value per level	481	4	477	380	20	360

The fair value and carrying amount are recognised in the balance sheet as shown in the table above. For quoted securities, the fair value is determined on the basis of the asset's quoted price in an active market, level 1.

As of the reporting date the Group had no items in this category.

For currency contracts and embedded derivatives, the fair value is determined on the basis of observable market data, level 2. For contingent considerations, a cash-flow-based valuation is performed, which is not based on observable market data, level 3. For the Group's other financial assets and liabilities, fair value is estimated to be the same as the carrying amount.

Contingent considerations	31 Dec 2024	31 Mar 2024
Opening balance	360	295
Acquisitions during the year	213	251
Adjustments through profit or loss	8	-15
Consideration paid	-121	-200
Interest expenses	15	15
Exchange differences	2	14
Closing balance	477	360

KEY FINANCIAL INDICATORS

					12 months ending
	31 Dec 2024	31 Mar 2024	31 Dec 2023	31 Mar 2023	31 Mar 2022
Net sales, SEKm	21,137	20,019	20,195	18,714	14,038
EBITDA, SEKm	3,561	3,245	3,227	2,872	2,077
EBITA, SEKm	3,148	2,860	2,855	2,540	1,803
EBITA-margin, %	14.9	14.3	14.1	13.6	12.8
Operating profit, SEKm	2,663	2,426	2,437	2,167	1,501
Operating margin, %	12.6	12.1	12.1	11.6	10.7
Profit after financial items, SEKm	2,390	2,183	2,215	2,005	1,433
Profit for the period, SEKm	1,848	1,691	1,701	1,554	1,117
x
Working capital	4,247	4,219	4,215	3,855	2,618
Return on working capital (P/WC), %	74	68	68	66	69
Return on equity, %	28	28	29	32	30
Return on capital employed, %	22	22	22	22	20
Equity ratio, %	38	39	38	36	34
x
Financial debt, SEKm	5,603	4,668	4,792	4,325	4,061
Debt / equity ratio, multiple	0.8	0.7	0.8	0.8	1.0
Financial debt / EBITDA, multiple	1.6	1.4	1.5	1.5	2.0
Net debt excl. pensions, SEKm	5,342	4,427	4,543	4,107	3,747
Net debt, excl. pensions / equity ratio, multiple	0.8	0.7	0.7	0.7	0.9
Interest coverage ratio, multiple	8.9	8.7	9.3	13.7	22.4
x
Average number of employees	4,274	4,109	4,041	3,781	3,317
Number of employees at end of the period	4,430	4,175	4,146	3,911	3,556

KEY FINANCIAL INDICATORS PER SHARE

				12 months ending
SEK	31 Dec 2024	31 Mar 2024	31 Dec 2023	31 Mar 2023	31 Mar 2022
Earnings per share before dilution	6.65	6.05	6.10	5.55	4.00
Earnings per share after dilution	6.65	6.05	6.10	5.55	3.95
Cash flow from operating activities per share	9.35	9.55	10.05	7.10	4.15
Shareholders' equity per share	24.50	22.15	20.75	19.25	14.60
Share price at the end of the period	301.20	243.80	221.40	192.30	182.00
Average number of shares after repurchases, '000s	269,799	269,634	269,590	269,557	269,400
Average number of shares adjusted for repurchases
and dilution, '000s	270,242	269,761	269,713	269,723	270,346
Number of shares outstanding at end of the period,
'000s	269,852	269,779	269,737	269,565	269,528

For definitions of key financial indicators, see page 18-20.

PARENT COMPANY INCOME STATEMENT, CONDENSED

	3 months		9 months		Rolling 12 months
	31 Dec	31 Dec	31 Dec	31 Dec	31 Dec	31 Mar
SEKm	2024	2023	2024	2023	2024	2024
Net sales	28	24	83	71	107	95
Administrative expenses	-34	-40	-104	-111	-136	-143
Operating profit/loss	-6	-16	-21	-40	-29	-48
Interest income and expenses and similar items	14	13	50	36	749	735
Profit after financial items	8	-3	29	-4	720	687
Appropriations	-	-	-	-	148	148
Profit before taxes	8	-3	29	-4	868	835
Income tax expense	-1	0	-7	-1	-34	-28
Profit for the period	7	-3	22	-5	834	807
Total comprehensive income	7	-3	22	-5	834	807

PARENT COMPANY BALANCE SHEET, CONDENSED

SEKm	31 Dec 2024	31 Dec 2023	31 Mar 2024
Intangible non-current assets	0	1	1
Property, plant and equipment	0	0	0
Non-current financial assets	7,014	5,714	5,726
Total non-current assets	7,014	5,715	5,727
Current receivables	1,179	1,168	2,189
Cash and bank balances	41	132	99
Total current assets	1,220	1,300	2,288
Total assets	8,234	7,015	8,015
Restricted equity	69	69	69
Unrestricted equity	485	434	1,242
Total equity	554	503	1,311
Untaxed reserves	374	391	374
Provisions	14	14	14
Non-current liabilities	4,364	3,461	3,424
Current liabilities	2,928	2,646	2,892
Total equity and liabilities	8,234	7,015	8,015

DEFINITIONS

Return on equity¹ ²

Earnings after tax divided by equity. The components are calculated as the average of the last 12 months. Return on equity measures the return generated on owners' invested capital.

Return on working capital (P/WC)¹

EBITA divided by working capital.

P/WC is used to analyse profitability and is a measure that encourages high EBITA and low working capital requirements, see the reconciliation table on page 21.

Return on capital employed¹

Profit after financial items plus financial expenses as a percentage of capital employed. The components are calculated as the average of the last 12 months.

Return on capital employed shows the Group's profitability in relation to externally financed capital and equity, see thereconciliation table on page 21.

EBITA¹

Operating profit before amortisation of intangible assets. EBITA is used to analyse the profitability generated by operating activities, see reconciliation table on page 21.

EBITA-margin¹

EBITA as a percentage of net sales. EBITA-margin is used to show the degree of profitability in operating activities.

EBITDA¹

Operating profit before depreciation and amortisation. EBITDA is used to analyse the profitability generated by operating activities, see reconciliation table on page 21.

Equity per share¹

Equity divided by number of shares outstanding at the reporting period's end. This measures how much equity is attributable to each share and is published to make it easier for investors to conduct analyses and make decisions.

Financial net debt¹

The net of interest-bearing debt and provisions minus cash and cash equivalents.

Net debt is used to monitor changes in debt, analyse the Group indebtedness and its ability to repay its debts using liquidfunds generated from the Group's operating activities if all debt fell due for repayment today and any necessary refinancing.

Financial net debt/EBITDA¹

Net financial debt divided by EBTIDA.

Net financial debt compared with EBITDA provides a performance measure for net debt in relation to cash-generating earnings in the business, i.e. it gives an indication of the business' ability to repay its debts. This measure is generally used by financial institutions to measure creditworthiness.

Financial items¹

Financial income minus financial costs. Used to describe changes in the Group's financial activities.

Acquired growth¹

Changes in net sales attributable to business acquisitions compared with the same period last year. Acquired growth is used as a component to describe the change in consolidated net sales in which acquired growth is distinguished from organic growth, divestments and exchange rate effects, see reconciliation table on page 21.

Cash flow from operating activities per share¹

Cash flow from operating activities, divided by the average number of outstanding shares after repurchase. This measure is used so investors can easily analyse the size of the surplus generated per share from operating activities.

equipment

.

Net investments in non-current assets¹

Investments in non-current assets minus sales of non-current assets. ThismeasureisusedtoanalysetheGroup'sinvestmentsinrenewinganddevelopingproperty,plantand

Net debt excluding pensions¹

The net of interest-bearing debt and provisions excluding pensions minus cash and cash equivalents. A measure used to analyse financial risk, see reconciliation table on page 21.

Net debt excluding pensions/ equity ratio¹ ²

Net debt excluding pensions divided by shareholders' equity. A measure used to analyse financial risk, see reconciliation table on page 21.

Organic growth¹

Changes in net sales excluding currency effects, acquisitions and divestments compared with the same period last year. Organic growth is used to analyse underlying sales growth driven by change in volumes, product range and price for similar products between different periods, see reconciliation table on page 21.

Profit after financial items¹

Profit/loss for the period before tax. Used to analyse the business' profitability including financial activities.

Earnings per share (EPS)

Shareholders' share of profit for the period after tax, divided by the weighted average number of shares during the period.

Earnings per share (EPS), diluted

Shareholders' share of profit for the period after tax, divided by the weighted average number of shares during the period, adjusted for the additional number of shares in the event of outstanding options being used.

Interest coverage ratio¹

Earnings after net financial items plus interest expenses and bank charges divided by interest expenses and bank charges.

This performance indicator measures the Group's capacity through its business operations and financial income togenerate a sufficiently large surplus to cover its financial costs, see reconciliation table on page 21.

Working capital¹

Working capital (WC) is measured through an annual average defined as inventories plus accounts receivable less accounts payable.

Working capital is used to analyse how much working capital is tied up in the business, see reconciliation table on page 21.

Operating margin¹

Operating profit as a percentage of net sales.

This measure is used to specify the percentage of sales that is left to cover interest and tax, and to provide a profit, after the company's costs have been paid.

Operating profit¹

Operating income minus operating expenses. Used to describe the Group's earnings before interest and tax.

Debt/equity ratio¹ ²

Financial net liabilities divided by equity. A measure used to analyse financial risk.

Equity ratio¹ ²

Equity as a percentage of total assets. The equity/assets ratio is used to analyse financial risk and show the percentage of assets that are funded with equity.

Capital employed¹

Total assets minus non-interest-bearing liabilities and provisions.

Capital employed shows the size of the company's assets that have been lent out by the company's owners or that havebeen lent out by lenders, see reconciliation table on page 21.

Outstanding shares

Total number of shares less treasury shares repurchased by the Company.

¹The performance measure is an alternative performance measure according to ESMA's guidelines. ²Minority interest is included in equity when the performance measures are calculated.

RECONCILIATION TABLES ALTERNATIVE PERFORMANCE MEASURES

EBITA and EBITDA	12 months ending
Addtech Group, SEKm	31 Dec 2024	31 Mar 2024	31 Dec 2023	31 Mar 2023	31 Mar 2022
Operating profit according to Interim report	2,663	2,426	2,437	2,167	1,501
Amortization, intangible assets (+)	485	434	418	373	302
EBITA	3,148	2,860	2,855	2,540	1,803
Depreciation, tangible assets (+)	413	385	372	332	274
EBITDA	3,561	3,245	3,227	2,872	2,077

Working capital and return on working capital

(P/WC)	12 months ending
Addtech Group, SEKm	31 Dec 2024	31 Mar 2024	31 Dec 2023	31 Mar 2023	31 Mar 2022
EBITA (12 months rolling)	3,148	2,860	2,855	2,540	1,803
Inventory, yearly average (+)	3,350	3,359	3,412	3,154	2,058
Accounts receivables, yearly average (+)	3,170	3,072	3,051	2,876	2,078
Accounts payables, yearly average (-)	-2,273	-2,212	-2,248	-2,175	-1,518
Working capital (average)	4,247	4,219	4,215	3,855	2,618
Return on working capital (P/WC) (%)	74%	68%	68%	66%	69%

Acquired- and organic growth

	3 months				9 months				12 months
	31 Dec		31 Dec		31 Dec		31 Dec		31 Dec		31 Mar
Addtech Group	2024		2023		2024		2023		2024		2024
Acquired growth (SEKm,%)	412	(8%)	194	(4%)	881	(6%)	641	(5%)	1,091	(5%)	851	(5%)
Organic growth (SEKm,%)	136	(3%)	58	(2%)	351	(2%)	400	(3%)	-33	(0%)	16	(0%)
Exchange rate effect (SEKm,%)	-27	(0%)	55	(1%)	-114	(-1%)	440	(3%)	-116	(0%)	438	(2%)
Total growth (SEKm,%)	521	(11%)	307	(7%)	1,118	(7%)	1,481	(11%)	942	(5%)	1,305	(7%)

Interest coverage ratio	12 months ending
Addtech Group	31 Dec 2024	31 Mar 2024	31 Dec 2023	31 Mar 2023	31 Mar 2022
Profit after financial items, SEKm	2,390	2,183	2,215	2,005	1,433
Interest expenses and bank charges, SEKm (+)	301	283	267	158	67
Total	2,691	2,466	2,482	2,163	1,500
Interest coverage ratio, multiple	8.9	8.7	9.3	13.7	22.4

Net debt excl. pensions and net debt excl.

pensions/equity ratio	At the end of the period
Addtech Group	31 Dec 2024	31 Mar 2024	31 Dec 2023	31 Mar 2023	31 Mar 2022
Financial net debt, SEKm	5,603	4,668	4,792	4,325	4,061
Pensions, SEKm (-)	-261	-241	-249	-218	-314
Net debt excluding pensions, SEKm	5,342	4,427	4,543	4,107	3,747
Equity, SEKm	6,997	6,478	6,059	5,573	4,259
Net debt to Equity ratio (excluding pensions),
multiple	0.8	0.7	0.7	0.7	0.9

Capital employed and return on capital employed	12 months ending
Addtech Group, SEKm	31 Dec 2024	31 Mar 2024	31 Dec 2023	31 Mar 2023	31 Mar 2022
Profit after financial items	2,390	2,183	2,215	2,005	1,433
Financial expenses (+)	392	367	316	210	152
Profit after financial items plus financial expenses	2,782	2,550	2,531	2,215	1,585
Total assets, yearly average (+)	17,403	16,170	15,811	14,280	11,001
Non-interest-bearing liabilities, yearly average (-)	-3,820	-3,839	-3,795	-3,581	-2,705
Non-interest-bearing provisions, yearly average (-)	-924	-809	-766	-655	-485
Capital employed	12,659	11,522	11,250	10,044	7,811
Return on capital employed, %	22%	22%	22%	22%	20%

This is Addtech

Addtech is a Swedish, listed technical solutions group that combines the flexibility and speed of a small company with the resources of a large company. We acquire, own and develop independent subsidiaries that sell various high-tech products and solutions to customers, primarily within the manufacturing industry and infrastructure. With in-depth expertise in a number of different niches, our subsidiaries generate added technical, financial and sustainable value for customers and suppliers alike, thus helping increase the efficiency and competitiveness of all involved. We currently own more than 150 companies in about 20 countries, and have a long history of sustainable, profitable growth.

Our vision

We are to be the leader in value-creating technical solutions for a sustainable tomorrow, perceived as the most skilled and long-term partner of our customers, suppliers and employees.

Business concept in brief

Addtech offers high-tech products and solutions for companies in the manufacturing and infrastructure sectors. Addtech contributes with added technical and financial value by being a skilled and professional partner for customers and manufacturers.

We build shareholder value through:

• our 150 subsidiaries and their capacity to generate earnings growth
• corporate governance that ensures the companies achieve even better results and development
• acquisitions that bring in new employees, customers and suppliers

ADDTECH AB (PUBL.) Org.nr: 556302-9726, Box 5112, 102 43 Stockholm, Visiting address: Birger Jarlsgatan 43 Tel: +46 8 470 49 00, info@addtech.com