OEM International

Interim / Quarterly Report • Jul 14, 2025

Interim report

• •
• •
• •
• •
• •

• •

• •

• •
• •
• •
• •
• •

Q2 2025 – Continued stable demand

Order intake was strong and increased by 3 percent compared to the corresponding quarter last year, and was 2 percent higher than sales. Sales were also good and increased by 0.5 percent and organic growth amounted to 2 percent, despite fewer working days compared to the corresponding quarter last year. Acquisitions had a positive impact on sales by 2 percent and currency had a negative impact on sales by 4 percent.

Operating profit (EBITA) declined by 5 percent, primarily due to somewhat lower gross margin caused by the strengthened Swedish krona. Excluding the currency effects, of which a significant portion is considered temporary, underlying profitability was stronger than in the same quarter last year. The reported EBITA margin was 13.2 percent (13.9). Excluding the currency effect, the EBIT A margin would have exceeded 14 percent.

Regional development

Generally speaking, demand has been good despite the negative currency effect that has affected both sales and gross margin. Just over half of the operations had growth in the quarter, and there is a wide spread in industries and geographies between the companies that have growth.

In the Sweden region, demand was variable, and sales decreased by almost 2 percent. The stronger Swedish krona had a negative impact on turnover of just over 3 percent, and organic growth was just under 2 per cent. Order intake increased by 5 percent and was 4 percent higher than sales. ATC Tape Converting, Telfa and Ingemar Liljenberg and the strongest growth rates in the Group's largest company, OEM Automatic, had a decrease in sales of 4 percent in the quarter.

The regions Finland, the Baltics and China experienced improved demand and had organic growth for the second quarter in a row, which this quarter amounted to just under 5 percent. The currency had a negative impact of 4.5 percent, resulting in sales on a par with the previous year. Order intake was 4 percent stronger than turnover but fell by 3 percent compared with the previous year. OEM Electronics, Hide-a-lite Finland, the operations in the Baltics and OEM Automatic had the strongest growth in the quarter.

The regions Denmark, Norway, British Isles and Eastern Central Europe increased sales by 6 percent, with organic growth of 1 percent. Currency effects had a negative impact of 4 percent, while acquisitions had a positive impact of 9 percent. Order intake increased by 3 percent but was 3 percent lower than sales. The OEM Automatic companies in Norway, Poland and Hungary have had good development in the quarter.

Acquisitions

In April, Vierpool BV was acquired, which is located in the Netherlands and has an annual turnover of SEK 120 million. The company is a distributor of automation components and has many similarities with most OEM subsidiaries. The acquisition means establishing a new, interesting market with good growth opportunities.

Market conditions

The market remains turbulent, which is affecting the industrial economy generally throughout Europe. Demand has been stable in the Swedish market, although it is believed that the export industry in particular is negatively affected by lower global demand. After a prolonged decline, the Finnish market has shown improved demand. In other markets where OEMs have a presence, we see greater variations.

The organization's ability to capture market share and continue to streamline operations is crucial for continued growth and strong profitability. The group's strong financial position, together with creative and curious employees, will continue to create growth both organically and through acquisitions.

Jörgen Zahlin Managing Director and CEO

Net sales

MSEK

Share by region for 2025

Incoming orders

Incoming orders amounted to SEK 1,364 million (1,322) in the second quarter of 2025, which is an increase of 3%. On a like-for-like basis, including the impact of currency movements, incoming orders rose 2% and acquired incoming orders were up 1%. In the second quarter, incoming orders were 2% higher than net sales.

At 30 June 2025, order books amounted to SEK 947 million (903), which is 5% higher than the same time last year.

Net sales

In the second quarter of 2025, net sales totalled SEK 1,337 million (1,331), which is a marginal increase. Organic growth was 2% and currency effects were a negative 4%. Revenue from acquisitions was 2% and comes from Region Denmark, Norway, the British Isles and East Central Europe.

Compared to the previous year, the highest percentual net sales growth was achieved by ATC Tape Converting OEM Automatic Hungary, OEM Electronics Finland and OEM Automatic Norway, all of which enjoyed growth above 20%.

Of the Group's net sales in the second quarter of 2025, Region Sweden accounts for 57%, which is a decrease with 2 percentage points, Region Denmark, Norway, the British Isles and Eastern Central Europe accounts for 25% which is an increase of 2 percentage point, Region Finland, the Baltics and China accounts for 18% which is unchanged compared with the corresponding quarter last year.

EBITA margin

Trends in earnings

In the second quarter of 2025, EBITA, operating profit before amortisation and impairment of acquisition-related intangible fixed assets fell by 5% compared with yearago quarter and amounted to 176 (185).

The EBITA margin for the second quarter amounted to 13.2% (13.9).

On a rolling 12-month basis, the EBITA margin was 15.0%.

In the second quarter of 2025, operating profit fell by 5 percent to SEK 167 million (175), giving an operating margin of 12.5 percent (13.2).

In the second quarter of 2025, profits after tax decreased by 5% to SEK 133 million (139).

Profit per share for the second quarter amounted to SEK 0.96 (1.01).

Return

The return on equity in the second quarter of 2025 was 5.6%, compared to 7.1% in the corresponding quarter of the previous year.

On a rolling 12-month basis, the return on equity was 25%, compared to the target of 25%.

Equity amounted to SEK 2,405 million (2,072) and the liquidity was 73% (70) on 30 June 2025.

Regional sales trends per quarter MSEK

Sweden

OEM Automatic AB, OEM Motor AB, Telfa AB, Svenska Batteripoolen AB, Elektro Elco AB, Nexa Trading AB, OEM Electronics AB, Internordic Bearings AB, AB Ernst Hj Rydahl Bromsbandfabrik, ATC Tape Converting AB, Lagermetall AB and Ingemar Liljenberg AB.

	2025	2024	2025	2024	2024	Rolling
MSEK	Q2	Q2	Q1-Q2	Q1- Q2	Full year	12 months
New orders	798	759	1618	1578	3 040	3 079
Net sales	770	782	1 586	1 565	3 074	3 095
EBITA	109	121	242	251	522	512
EBITA margin	14 %	15 % -	15 %	16 % -	17 %	17 %

In the second quarter of 2025, net sales decreased by 2%, and amounted to SEK 770 million (782). Organic growth was barely 2% and currency fluctuations had a negative impact of 3% on net sales. The best performing companies are ATC Tape Converting and Telfa, which increased their sales by 48% and 15% respectively.

Incoming orders increased with 5% in the second quarter of 2025 and amounted to SEK 798 million (759). Incoming orders were 4% higher than net sales.

EBITA fell by 10% to SEK 109 million (121) in the second quarter of 2025, due to lower net sales and a weaker gross margin, which is an effect of the strengthened Swedish krona.

Finland, the Baltic States and China

OEM Automatic Fl, Akkupojat Oy, Hide-a-lite Fl, OEM Electronics Fl, Rauheat OY, OEM Automatic OU, OEM Automatic UAB, OEM Automatic SIA and OEM Automatic (Shanghai) Co. Ltd.

MSEK	2025 Q2	2024 Q2	2025 Q1-Q2	2025 Q1-Q2	2024 Full year	Rolling 12 months
New orders	248	254	503	471	923	955
Net sales	238	237	483	477	ರಿಕೆ ನಿ	962
EBITA	23	21	53	50	110	112
EBITA margin	10 %	9%	11 % -	11%	11 %	12 %

In the second quarter of 2025, net sales increased marginally amounting to SEK 238 million (237). Organic growth was strong and amounted to 5%. Currency fluctuations had a negative impact on net sales of barely 5%. The best performing businesses are OEM Electronics and Hide-a-Lite in Finland and OEM Automatic in Baltic, which increased sales by 28%, 12% and 11% respectively.

Incoming orders intakes for the region decreased by 3% in the second quarter of 2025, and totalled SEK 248 million (254). Incoming orders were 4% higher than net sales.

EBITA increased by 9% to SEK 23 million (21) in the second quarter of 2025, due to lower costs.

Denmark, Norway, the British Isles and Eastern Central Europe

OEM Automatic Klitsö A/S, OEM Automatic AS, OEM Automatic Ltd, Zoedale Ltd, OEM Automatic Sp z o. o., OEM Electronics PL, OEM Automatic spol. s r.o., OEM Automatic Kft, Demesne Electrical Sales Ltd., Demesne Electrical Sales UK Ltd and Vierpool BV.

MSEK	2025 Q2	2024 Q2	2025 Q1-Q2	2024 Q1-Q2	2024 Full year	Rolling 12 months
New orders	319	309	645	624	1 203	1223
Net sales	330	312	640	620	1 210	1 230
EBITA	43	44	81	89	173	165
EBITA margin	13%	14 %	13%	14%	14 %	13 %

Net sales increased by 6% in the second quarter of 2025 to SEK 330 million (312). The acquisition of Vierpool BV boosted the net sales by 9%. Organic growth amounted to 1% and currency fluctuations had a negative impact on net sales of 4%. Compared to the previous year, the best performing businesses are OEM Automatic in Hungary, Norway and Poland, which grew by 28%, 23% and 13% respectively.

Incoming orders in the second quarter of 2025 amounted to SEK 319 million (309), which is an increase of 3 %. Incoming orders were 3% lower than net sales.

EBITA decreased in the second quarter of 2025 by 3% to SEK 43 million (44), which is due to a lower gross margin which is, in turn, due to currency factors.

Other financial information

Cash flow

In the second quarter of 2025, cash flow from operating activities totalled SEK 163 million (204). Total cash flow amounted to SEK -163 million (-66) and was affected by investment activities of SEK -83 million (-12) and financing activities of SEK -244 million (-257), of which SEK -243 million (-243) was dividend. The redemption of options from the 2022 option program and the new option program for 2025 positively impacted financing activities by 2.7 MSEK. Payment of subsidies for the 2023 option scheme had a negatively impacted the cash flow from operating activities by SEK -2,1 million.

Investments

In the second quarter of 2025, the Group's investments in fixed assets excluding acquisitions totalled SEK 6 million (10) and are attributable to property, plant and equipment of SEK 6 million (7) and intangible assets of SEK 0 million (3).

Cash and cash equivalents

At 30 June 2025, cash and cash equivalents, consisting of cash and bank balances, amounted to SEK 477 million (311). Combined with granted and unutilised credit facilities, cash and cash equivalents amounted to SEK 1,065 million (889) at 30 June 2025. The Group's financial, interest-bearing liabilities totalled SEK 111 million (109), of which IFRS 16 leasing liabilities amounted to SEK 81 million (66).

Intangible assets

Amortisation of intangible assets of SEK 10 million (10) was charged to the income statement in the second quarter of 2025. At 30 June 2025, intangible assets amounted to SEK 396 million (386).

Equity/asset ratio

At 30 June 2025, equity/asset ratio was 73% (70).

Employees

In the second quarter of 2025, the average number of employees in the Group was 1,072 (1,050). At the end of the period, the number of employees was 1,073 (1,058). The increase is due in part to the acquisition of business with 23 employees (35).

Share repurchase

OEM has not repurchased any shares during the period. In the first half-year the number of treasury shares held had decreased by 94,343, which is due to the utilisation of purchase options in the 2022 option programme. As at 30 June 2025, the company's total holding of treasury shares amounted to 276,739 shares. The holding represents 0.2% of the total number of shares. The AGM authorised a holding of up to 10% of the number of shares, which corresponds to 13,901,585.

Option programme

OEM's call option programme consists of a total of 350,500 options.

In the share-based incentive programme established by the 2025 AGM, which included approximately 60 executives and with a maximum of 200,000 call options on repurchased shares, a total of 95,000 options were subscribed. The call options were transferred at a price of SEK 17.30 per option and the purchase price for the call options amounts to SEK 166,70, which corresponds to 120 percent of the average share price during the period 5-16 May 2025. Each call option entitles the holder to acquire one Class B share during the period from 1 March to 15 June 2028.

In the share-based incentive programme established by the 2024 AGM, which included approximately 60 executives and with a maximum of 200,000 call options on repurchased shares, a total of 102,000 options were subscribed. The call options were transferred at a price of SEK 13.40 per option and the purchase price for the call options amounts to SEK 135.10, which corresponds to 120 percent of the average share price during the period 6-17 May 2024. Each call option entitles the holder to acquire one Class B share during the period from 1 March to 15 June 2027.

In the share-based incentive programme established by the 2023 AGM, which included approximately 50 executives and with a maximum of 200,000 call options on repurchased shares, a total of 153,500 options were subscribed. The call options were transferred at a price of SEK 12.77 per option and the purchase price for the call options amounts to SEK 122.00, which corresponds to 120 percent of the average share price during the period 9-20 May 2023. Each call option entitles the holder to acquire one Class B share during the period from 2 March to 15 June 2026.

The 2022 call options were transferred at a price of SEK 6.64 per option and the purchase price for the call options amounts to SEK 86.60, which corresponds to 120 percent of the average share price during the period 9-20 May 2022. During the period from 1 March to 15 June 2025 all options were redeemed.

Acquisitions

On 23 April, VierpoolBV in the Netherland was acquired. The company was acquired through the transfer of all shares in the parent company Vierpool is a distributor of automation components to machine and panel builders, installers and system integrators in the Dutch industrial and logistics sectors. The customer offering consists of products based on long-term partnerships with leading European manufacturers, a number of which have previously collaborated with OEM. The company has an annual turnover of approximately SEK 120 million and has 24 employees. The company is located in Maarseen and will be a part of of Region Denmark, Norway, the British Isles and East Central Europe on 1 April 2025. The purchase price for the acquired business was SEK 83.2 million, including contingent consideration estimated at SEK 5.7 million, which is equivalent to 51% of the maximum additional consideration, and is based on the performance of the business during 2025. Intangible fixed assets, relating to customer relationships amortised over a five-year period, increase by SEK 23.9 million as a result of the acquisition. Goodwill amounts to SEK 25.9 million and is attributable to future expected profitability. Assets acquired at fair value. The acquisition is expected to have a marginal impact on OEM's profit in the current year

Preliminary acquisition analysis (SEK million)

The acquired company's net assets at the time of acquisition	Group fair value
Intangible fixed assets	23,9
Other intangible fixed assets	3.2
Buildings and land	16.6
Other fixed assets	0.5
Inventories	12.8
Trade and other receivables	19.3
Cash and cash equivalents	3.9
Deferred tax liability	-7,2
Trade payables and other operating liabilities	-15.6
Net identifiable assets/liabilities	57,4
Consolidated goodwill	25,9
Cash consideration	83.2

Revaluation of conditional purchase considerations

The execution of previously completed acquisitions has not led to any revaluation of contingent purchase considerations recognised as liabilities. In the first six months of 2025, SEK 31 million (30) was paid of the additional purchase price recognised as a liability for the acquisition of Demesne Electrical Sales Ltd, SEK 3 million (-) for the acquisition of Ingemar Liljenberg AB and SEK 4 million (2) for the acquisition of Lagermetall AB. At 30 June 2025, the remaining purchase considerations (both fixed and contingent) for completed acquisitions amounted to SEK 16 million (55).

Accounting policies

This summarised interim report for the Group has been prepared in accordance with the IAS 34 Interim Financial Reporting and the applicable provisions of the Swedish Annual Accounts Act. The interim report for the Parent Company has been prepared in accordance with Chapter 9 of the Swedish Annual Accounts Act, Interim Report. The same accounting principles and methods of calculation have been applied as in the last annual report to the Group and the Parent Company. There are no IFRS standards or IFRIC statements applicable from 2025 that have had a material impact on the Group's results or financial position.

Specific disclosures of the fair values of financial assets and liabilities recognised at amortised cost are not provided because the recognised values of financial liabilities are considered to be reasonable approximations of their fair values. This is because management assessed that there has been no significant change in market interest rates or credit margins that would have a material impact on the fair value of the Group's interest-bearing liabilities. Furthermore, in the case of accounts receivable and other current assets and liabilities, the fair value is assessed to be consistent with the recognised amount due to the short-term maturity of these items.

Risks and uncertainties

The OEM Group's activities expose it to both operational and financial risks. Operational risks include competition and business risk, while financial risks include liquidity, interest rates and currency risk. The OEM Group's financial activities and financial risk management are mainly carried out by the Parent Company. For a full description of the risks affecting the Group, please refer to the 2024 Annual Report on pages 31-33 and pages 77-80.

Transactions with affiliated parties

There were no transactions between OEM and affiliated parties that materially affected the Group's and the Parent Company's financial position and operational results during the period, except for intra-group share dividends and dividends to Parent Company shareholders.

Parent Company

In the second quarter of 2025, the Parent Company's net sales amounted to SEK 27 million (29), and profit after financial items totalled SEK 52 million (9). Net sales relate entirely to intra-group transactions. The risks and uncertainties described above for the Group also apply indirectly to the Parent Company.

Events after the end of the reporting period

There are no significant events to report after the close of the reporting period.

Financial information

OEM provides financial information on the following occasions:

Interim report for the third quarter of 2025	16 October 2025
Year-end report for the full year of 2025	18 February 2026

Definitions

For definitions, see page 16.

Tranås, 14 July 2025

Christopher Norbye	Thijs Bakker	Albert Gustafsson
Chairman of the Board	Member of the Board	Member of the Board

Jörgen Rosengren	Martin Gaarn Thomsen	Matthias Wittkowski
Member of the Board	Member of the Board	Member of the Board

Jörgen Zahlin Managing Director and Group CEO

The report has not been subjected to a dedicated review by the company's auditors.

For further information, please contact CEO Jörgen Zahlin at 075-2424022, jorgen.zahlin@oem.se or CFO Rikard Tingvall at 075-2424015, rikard.tingvall@oem.se.

OEM International AB (publ) is obliged to make this information public in accordance with the EU Market Abuse Regulation (MAR) No. 596/2014 and the Swedish Securities Market Act. The information was submitted for publication through the agency of Rikard Tingvall, at 11.00 CET on 14 July 2025.

Sales and results of the regions

sales & earnings by region

Net sales (SEK million)

	Jan-	Jan-
	June	June	Q2	Q1	Q4	Q3	Q2	Trailing	Full year
	2025	2024	2025	2025	2024	2024	2024	12 month	2024
Sweden, external income	1586	1565	770	817	823	686	782	3 095	3074
Sweden, income from other segments	160	131	88	72	72	ਦਰੇ	62	300	271
Finland, the Baltic States and China, external income	483	477	238	246	241	237	237	962	955
Finland, the Baltic States and China, income from other segme	53	42	26	27	22	19	19	94	83
Denmark, Norway, the British Isles and
East Central Europe, external income	640	620	330	310	290	299	312	1230	1 210
Denmark, Norway, the British Isles and
East Central Europe, income from other segments	12	11	6	5	6	8	5	26	25
Flimination	-226	-184	-120	-106	-100	-96	-87	-421	-380
	2 710	2 662	1 337	1373	1355	1222	1 331	5 287	5 239

ebita (Msek)

	Jan-	Jan-
	June	June	02	01	Q4	Q3	Q2	Trailing	Full year
	2025	2024	2025	2025	2024	2024	2024	12 month	2024
Sweden	242	251	109	133	151	119	121	512	522
Finland, the Baltic States and China	53	50	23	30	27	33	21	112	110
Denmark, Norway,the British Isles and
East Central Europe	81	89	43	38	37	47	44	165	173
Group functions	5	-1		4	-9	ട	-1	3	-4
EBITA	381	390	176	205	206	204	185	792	800

Operating profit (SEK million)

	Jan-	Jan-
	June	June	02	01	Q4	Q3	02	Trailing	Full year
	2025	2024	2025	2025	2024	2024	2024	12 month	2024
EBITA	381	390	176	205	206	204	185	792	800
Amortisation and write-downs of acquisition-related
intangible fixed assets.
Sweden	-3	-4	-2	-2	-2	-2	-2	-6	-7
Finland, the Baltic States and China,		O	O
Denmark, Norway, the British Isles and
East Central Europe	-14	-15	-8	-7	-8	-8	-8	-30	-30
Operating profit	364	371	167	197	197	195	175	755	763

Consolidated profit/loss (SEK million)

	Jan-	Jan-
	June	June	Q2	Q1	Q4	Q3	Q2	Trailing	Full year
	2025	2024	2025	2025	2024	2024		2024	2024
Operating profit	364	371	167 167	197	197	195	175 -	755	763
Net financial items	-6			-7 -		-4		-3 -3 - 3	ട
Pre-tax profit/(loss)	358	373 - -	168 168 168	190 - 190	204 204 204		191	753 753	768

Specification of external income by region and product area	Sweden		Finland, the Baltic States and China,		Denmark, Norway, the British Isles and Fast Central Europe		Total
	Jan-	Jan-	Jan-	Jan-	Jan-	Jan-	Jan-	Jan-
	June	June	June	June	June	June	June	June
	2025	2024	2025	2024	2025	2024	2025	2024
Product Areas
Automation	639	646	285	281	463	436	1387	1363
Components	181	168	66	57	9	9	256	234
Lighting & Installation components	279	274	33	30	164	173	475	476
Other	488	477	100	108	4	3	591	588
	1586	1565	483	477	640	620	2 710	2662

Group performance and financial position

CONDENSED CONSOLIDATED STATEMENT OF INCOME (SEK MILLION)

	Jan-	Jan-
	June	June	Q2	Q1	Q4	Q3	Q2	Trailing	Full year
	2025	2024	2025	2025	2024	2024	2024	12 month	2024
Operating income
Net sales	2 710	2 662	1337	1373	1 355	1222	1331	5 287	5 239
Other operating income	0	1	0	O	0	5	1	5	5
Operating costs*
Commodities	-1758	-1710	-868	-890	-858	-789	-861	-3 405	-3 357
Staff costs	-425	-413	-216	-210	-202	-169	-210	-797	-784
Other expenses	-110	-116	-59	-51	-72	-45	-59	-227	-233
Depreciatione/amorisation of property, plant and
equipemnt and intangible fixed assets	-53	-52	-28	-25	-27	-28	-26	-108	-107
Operating profit	364	371	167	197	197	195	175	755	763
Net financial income/expense	-6	2		-7	7	-4	O	-3	5
Pre-tax profit/(loss)	358	373	168	190	204	191	175	753	768
Tax	-72	-77	-35	-37	-46	-40	-36	-157	-162
Profit/loss for the period	286	296	133	153	158	152	139	596	606
Earnings per outstanding share, SEK**	2,06	2,14	0,96	1,10	1,14	1,09	1,01	4,29	4,37

* Attributable to shareholders of the parent company. There are no dilution effects.

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (SEK MILLION)

Other comprehensive income

Profit/loss for the period	286	296	133	153	158	152	139	596	606
ltems that have been transferred or may
recycled to net income
Exchange differences for the period on
translation of overseas operations	-34	25	20	-54	18	-8	-12	-24	35
ltems that can not be recycled to
net profit
Revaluation of defined-
benefit pension plans	0	O	0	O	0	-1	0	-2	-1
Other comprehensive income for the period	-34	25	20	-54	18	-9	-12	-26	34
Comprehensive income for the period	252	322	153	gg	-18	336	128	570	640

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION (SEK MILLION)

	2025-06-30	2024-06-30	2024-12-31
Fixed assets
Goodwill	281	259	260
Other intangible assets	115	127	108
Total intangible assets	396	386	369
Property, plant and equipment	435	402	435
Total property, plant and equipment	435	402	435
Deferred tax assets	3	8	4
Financial assets	1	2	2
Total financial assets	3	10	6
Total fixed assets	834	798	809
Current assets
Inventories	1037	ਰੇਰੇ ਹੋ	1101
Current receivables	937	872	866
Cash and cash equivalents	477	311	557
Total current assets	2 451	2 182	2 523
Total assets	3 286	2 980	333
Equity	2 405	2 072	2 390
Non-current interest-bearing liabilities	50	43	61
Provisions for pensions	0	2	0
Other provisions	2	2	2
Non-current non-interest-bearing liabilities	0	7	7
Deferred tax liabilities	173	161	172
Total non-current liabilities	225	215	241
Current interest-bearing liabilities	61	65	79
Current non-interest-bearing liabilities	594	628	622
Total current liabilities	655	693	701
Total equity and liabilities	3 286	2 980	3 333

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (SEK MILLION)

	2025-06-30	2024-06-30	2024-12-31
At beginning of year	2390	1991	1991
Comprehensive income for the period
Profit/loss for the period	286	296	606
Other comprehensive income for the period	-34	25	34
Comprehensive income for the period	252	322	640
Dividends paid	-243	-243	-243
Issued call options	7		1
At the end of the period	2 405	2 072	2 390

CONDENSED CONSOLIDATED CASH FLOW STATEMENT (SEK MILLION)

	Jan- June		Jan-
		June	Q2	Q1	Q4	Q3	Q2	Trailing	Full year
	2025	2024	2025	2025	2024	2024	2024	12 month	2024
Operating cash flows
before movements in working capital	311	334	148	163	194	194	157	699	722
Movements in working capital	16	72	15		-17	-86	46	-87	-31
Operating cash flows	327	406	163	164	177	108	204	613	692
Acquisition of subsidiaries
net effet on cash and cash equivalents	-108	-32	-77	-31	-2	O	-3	-110	-34
Acquisition of intangible fixed assets	-1	-4	-1	0	-1	-1	-3	-2	-5
Acquisition of property, plant and equipment	-12	- 9	-5	-7	-12	-9	-7	-33	-30
Sales of property, plant and equipment	1	0	1		0	0	O	1	1
Investing cash flows	-120	-45	-83	-38	-14	-9	-12	-143	-68
Financing cash flows
- Repayment of lease liabilities	-23	-20	-12	-11	-11	-11	-10	-45	-42
- Change in bank overdrafts	-20	-25	8	-28	-8	11	-5	-17	-22
- Call options	7	0	3	L			O	7	0
- Dividends paid	-243	-243	-243				-243	-243	-243
Financing cash flow	-279	-287	-244	-35	-19	-1	-257	-299	-307
Cash flow for the period	-72	75	-163	91	144	98	-66	170	317
Cash and cash equivalents at the beginning of the period	557	233	635	557	413	311	379	311	233
Exchange rate difference	-8	4	5	-13	0	3	-2	-5	7
Cash and cash equivalents at the end of the period	477	311	477	635	557	413	311	477	557

KEY PERFORMANCE INDICATORS

	Jan-	Jan-
	June	June	02	Q1	Q4	Q3	Q2	Trailing	Full year
	2025	2024	2025	2025	2024	2024	2024	12 month	2024
Net sales growth, %	1,8	0,4	0,5	3,1	4,6	2,0	2,7	2,5	1,8
Operating margin, %	13,4	13,9	12,5	14,3	14,5	16,0	13,2	14,3	14,6
EBITA-margin, %	14,1	14,6	13,2	14,9	15,2	16,7	13,9	15,0	15,3
Return on equity, %	11,9	14,6	5,6	6,3	6,4	6,7	7,1	25,0	27,7
Return on capital employed, %	15,7	18,4	7,4	8,3	8,6	8,3	8,9	32,6	35,3
Return on total capital %	11,7	13,2	5,5	6,2	6,5	6,2	6,4	24,4	25,9
Debt/equity ratio, times	0,1	0,05							0,06
Equity/assets ratio, %	73,2	69,5							71,7
Earnings per outstanding share, SEK*	2,06	2,14	0,96	1,10	1,14	1,09	1,01	4,29	4,37
Earnings per total shares, SEK*	2,06	2,13	0,96	1,10	1,14	1,09	1,00	4,29	4,36
Equity per total shares, SEK	17,30	14,90							17,19
Average number of outstanding shares (thousands)	138 702	138 644	138 732	138 672	138 644	138 644	138 644	138 673	138 644
Average total shares (thousands)	139 016	139 016	139 016	139 016	139 016	139 016	139 016	139 016	139 016

* Attributable to shareholders of the parent company. There are no dilution effects.

Parent company results and financial position

Condensed Income STATEMENT OF THE PARENT COMPANY (SEK MILLION)

	Jan-	Jan-
	June	June	Q2	Q1	Q4	Q3	Q2	Trailing	Full year
	2025	2024	2025	2025	2024	2024	2024	12 month	2024
Net sales	56	52	27	29	28	24	29	108	104
Other operating income	0		O					0
Operating costs	-50	-49	-25	-25	-34	-18	-29	-102	-101
Depreciation	-2	-2	-1	-7	-7	-1	-1	-4	-4
Operating profit	4			3	-7	ഗ	-1	2	-1
Income from investments
in Group companies	64	30	47	17	ರಿನ	119	8	278	243
Other financial income/expense, Net	5	2	4	2	7	4	2	16	13
Profit/loss after financial items	73	32	52	21	95	128	ி	296	255
Year-end appropriations	-	O			382			382	382
Pre-tax profit/(loss)	73	32	52	21	477	128	ி	679	637
Tax	-2	O	-1	-1	-85	0	O	-87	-85
Profit/loss for the period	71	32	51	20	392	128	ி	592	552

Comprehensive income for the period corresponds with the profit/loss for the period.

condensed balance sheet of the parent company (sek million)

Assets	2025-06-30	2024-06-30	2024-12-31
Intangible fixed assets	13	14	14
Property, plant and equipment	17	17	18
Financial assets	822	741	736
Total fixed assets	852	772	768
Current receivables	604	520	830
Cash on hand and demand deposits	346	110	456
Total current assets	951	631	1287
Total assets	1803	1403	2 054
Equity and liabilities
Equity
Non-distributable equity	71	71	71
Distributable equity	977	621	1141
Total shareholders' equity	1048	692	1 212
Untaxed reserves	611	542	611
Deferred tax liabilities	2	2	2
Non-current nterest-bearing liabilities	0		0
Non-current non-interest-bearing liabilities	0	7	7
Total non-current liabilities	O	7	7
Current interest-bearing liabilities	0	0	0
Current non-interest-bearing liabilities	143	160	222
Total current liabilities	143	160	222
Total equity and liabilities	1803	1403	2 054

Notes

Segment reporting is presented on pages 5, 6 and 11, and disclosures on the fair value of financial instruments and accounting policies are presented on pages 7, 8 and 9.

Definitions

In addition to the conventional financial performance measurements established by IFRS, OEM uses the concepts of Organic Growth and EBITA/EBITA margin, the definitions of which are described below. The reason for this is that OEM wishes to increase the comparability of sales between different time periods without the impact of currency trends or acquisitions, and to be able to summarise the companies' operations in terms of profit and margins adjusted for depreciation arising from acquisitions.

Organic growth

The change in total revenue for the period, adjusted for acquisitions, disposals and foreign exchange, compared with total revenue for the comparative period.

Debt to equity ratio Interest-bearing liabilities divided by equity

EBITA

Operating result before amortisation and impairment of intangible assets arising from business acquisitions Reconciliation of EBITA calculation is presented on page 11.

EBITA margin EBITA divided by net sales

Return on capital employed EBITA plus financial income as a percentage of capital employed

Capital employed Balance sheet total minus non-interest-bearing liabilities and provisions

Return on total capital EBITA plus financial income as a percentage of average total capital

Return on equity Result for the year as a percentage of average equity

One of Europe's leading technology companies with 35 business operating units in 15 countries.

For 50 years, OEM has had the goal of being a value-creating link between customers and the manufacturers of industrial components and systems. In that time, the company has grown from a small family business in Tranås in southern Sweden to an international technology trading group with operations in 15 countries in northern Europe, eastern central Europe, the British Isles and China.

OEM works with more than 400 leading and specialised manufacturers and manages their sales in selected markets. OEM's range consists of more than 60,000 products in the areas of electrical components, machine components & cables, pressurised & hydraulic components, motors, bearings & brakes, appliance components and installation components. The Group has more than 30,000 clients, mainly in the manufacturing industry. The company has a high level of expertise to help customers streamline their selection and purchasing of the

OEM INTERNATIONAL AB (publ) org.nr. 556184-6691. Box 1009, 573 28 Tranas +46 75-242 40 00