SinterCast

Three new high volume orders received in second quarter

Second Quarter 2025

Revenue for Period: SEK 31.1 million (SEK 35.1 million). Recurring revenue accounted for 92.3% (95.6%) of the revenue, influenced by higher installation revenue
Operating Result: SEK 11.2 million (SEK 13.1 million), yielding 36.1% (37.4%) operating margin
Earnings per Share: SEK 1.24 per share (SEK 1.48 per share)
Cashflow from Operations: SEK 9.1 million (SEK 16.6 million), primarily due to the increase in accounts receivable and prior-year operating liability increase
Dividend Payment: First instalment of SEK 3.50 per share (SEK 24.7 million) paid on 27 May 2025
New commercial vehicle orders received for more than 500,000 Engine Equivalents per year
Scania launches new 11 litre engine with SinterCast-CGI cylinder block and cylinder head
First installation in India commissioned; positive outlook for second-half installation activity

Year-to-Date 2025

Revenue for Period: SEK 58.1 million (SEK 67.3 million). Recurring revenue accounted for 95.2% (95.5%) of the revenue
Operating Result: SEK 21.4 million (SEK 20.5 million), yielding 36.8% (30.5%) operating margin.
Earnings per Share: SEK 2.33 per share (SEK 2.35 per share)
Cashflow from Operations: SEK 21.4 million (SEK 31.8 million), primarily due to strong reduction in prioryear accounts receivable
Dividend: Ordinary dividend of SEK 6.00 per share (SEK 5.50 per share) and extraordinary dividend of SEK 1.00 per share (SEK 0.60 per share), equivalent to SEK 49.5 million (SEK 43.1 million), to be paid in two equal instalments
Installed Base: 58 (56) installations, 26 (25) fully automated systems, 24 (24) mini-systems and eight (seven) tracking systems in 13 (12) countries

Key Facts and Figures

	April−June		January−June		January−December
AMOUNTS IN SEK MILLION, unless otherwise stated	2025	2024	%	2025	2024	2024	2023
Annualised Engine Equivalents, millions	3.4	4.0	-15%	3.2	4.0	3.6	3.7
Recurring revenue*	28.7	33.6	-15%	55.3	64.2	123.0	127.0
Revenue**	31.1	35.1	-12%	58.1	67.3	135.6	134.4
Gross margin, %	71.3	74.9	-5%	70.4	72.6	72.5	73.3
Operating result	11.2	13.1	-15%	21.4	20.5	43.2	42.7
Operating margin, %	36.1	37.4	-4%	36.8	30.5	31.9	31.8
Earnings per share, SEK**	1.24	1.48	-16%	2.33	2.35	4.85	5.94
Distributed dividend per share, SEK	3.50	3.05	15%	3.50	3.05	6.10	5.50

* Recurring revenue from production fees, consumables and software licence fees

** According to IFRS. All other key ratios and share data are defined as Alternative Performance Measures (APMs).

Definition of key ratios can be found after "Key Ratio and Share Data - Group" in this Report.

Financial Targets and Long-term Growth Outlook

CEO Message

Series Production up 10% in the second quarter; positive long-term outlook

Series production in the second quarter finished at 3.4 million Engine Equivalents, up 10% from the first quarter volume of 3.1 million Engine Equivalents. The increase was primarily due to the continued ramp of the Traton Group 13 litre cylinder block and head, as series production for MAN increased through the quarter. Ford Super Duty pick-up truck production was also strong during the quarter. However, slow commercial vehicle sales in Europe and North America, and a slow start for commercial vehicle production at First Automobile Works in China limited the gains compared to the first quarter.

Year on year, second quarter production was down 15%, from 4.0 million Engine Equivalents, due to the combined effects of the stoppage of a high volume programme in September 2024 and slow market demand for commercial vehicles. The decline was comprised of approximately 520,000 Engine Equivalents from the stoppage programme, 350,000 Engine Equivalents from temporarily low commercial vehicle sales, and a combined increase of 270,000 Engine Equivalents from all other series production programmes.

Sales of the consumable Sampling Cup were strong during the second quarter, with 58,050 (56,700) units shipped. Overall, Sampling Cup shipments for the first half of the year amounted to 103,950 (101,300) units. The strong consumables sales contributed to year-to-date revenue of SEK 58.1 million (SEK 67.3 million), with 95.2% (95.5%) of the total revenue accounted for by recurring revenue. The recurring revenue is derived from the Production Fee levied for each Engine Equivalent, consumables and software licence fees. Benefitting from proactive cost reduction activities and currency revaluation gains primarily related to the longstanding US dollar hedge strategy, the year-to-date operating result finished at SEK 21.4 million (SEK 20.5 million), providing an operating margin of 36.8% (30.5%).

The second quarter also saw positive overall market development, with the announcement of three new high volume series production programmes. At mature volume, the combined contribution from these three programmes is forecast to be more than 500,000 Engine Equivalents per year. Specifically, Scania launched the 11 litre version of the current-production 13 litre commercial vehicle engine. The two engines boast 85% common components, including Compacted Graphite Iron cylinder blocks and heads produced using the SinterCast process control technology. In parallel, the Tupy foundry secured two new contracts to supply CGI cylinder blocks for 13-litre commercial vehicle engine programmes, one in Brazil and one in North America. Together with the programmes that are already in the ramp phase, these new programmes provide the building blocks for reaching the five million and six million Engine Equivalent milestones, while delivering on our projection that all commercial vehicle OEMs will adopt Compacted Graphite Iron before the end of this decade.

Tariffs and Emissions Legislation

The recent changes in international tariffs on vehicles and auto parts have created considerable uncertainty in the automotive sector. In the specific case of SinterCast, there are no cast iron cylinder block and head foundries in the United States. All cast iron cylinder blocks and heads are therefore imported, with the main sources being Mexico and Brazil, with some components coming from Europe and none, as yet, from Asia. As the US must import 100% of its cast iron cylinder blocks and heads, the tariffs are not expected to have a direct effect on the SinterCast series production volume. However, if new or future tariffs lead to a reduction in automotive sales, the decreased volume can have an indirect impact on SinterCast.

On 6 August, the Trump administration introduced new unilateral tariffs on many Brazilian goods. The new tariffs apply to goods that were either not addressed by previous tariffs or not included in specific exemption lists. As a result of the new tariffs, auto parts for passenger vehicles and pick-up trucks are currently subject to a 25% tariff while commercial vehicle parts are subject to a 50% tariff. Tupy, with its main manufacturing site in Brazil, has publicly commented on the potential to move some production to its foundries in Mexico or Portugal, which also have SinterCast installations. It is still too early to know how the tariffs and reactions will evolve; however, imbalanced tariffs can affect Tupy's competitive position.

On 13 June, the United States Environmental Protection Agency (EPA) proposed new Renewable Fuels Standards to increase the domestic production and export of liquid biofuels. The proposals set the highest ever requirements for net-zero renewable fuel volume and provide certainty for new investment into renewable fuel production in the US. In parallel, the new EPA proposal removed electricity as a qualifying renewable fuel. The proposed standards will reduce the need for fossil based fuels by 150,000 barrels per day, eliminating approximately 24 million tonnes of CO2 per year by the end of 2027. The proposal reinforces the contribution that clean fuels can make to CO2 savings today, and the importance of focussing on the fuel rather than the powertrain in order to provide costeffective and sustainable transport solutions for the future. It is widely expected that the EU will also embrace netzero liquid fuels in the Sustainable Transport Investment Plan (STIP) scheduled to be published this autumn.

The improved strength of CGI enables increased combustion temperature and pressure in engines. This increase improves fuel efficiency, horsepower and torque. When using CGI, heavy-duty commercial vehicles typically achieve 5-10% improved fuel efficiency, providing significant CO2 savings. With approximately 13 million SinterCast-CGI vehicles on the road today, the SinterCast technology reduces CO2 emissions by approximately 10 million tonnes per year. We remain on pace to reach our goal of 100 million tonnes of cumulative CO2 reduction by 2028.

Installation campaign underway; intensified field activities in the second half

The second quarter marked the start of the 2025 installation campaign, with installation revenue of SEK 2.1 million (SEK 1.3 million). The second quarter benefitted from the 29 June installation acceptance at the Saroj foundry in India and strong aftermarket sales of spare parts. Installation activities are scheduled to intensify in the second half of the year, with firm orders already received from Maringá Soldas in Brazil and Qingdao Surefire (formerly Xu Ruifeng) in China. Discussions are ongoing for other new installations and for capacity upgrades, representing potential installation revenue of more than SEK 20 million. At the mid-year point, we are confident to exceed our historical full-year average installation revenue of SEK 8 million. However, because of the current economic uncertainties, it is not yet possible to determine if SinterCast will be able to secure and commission enough of the installation opportunities before year-end, in order to beat the SEK 11.4 million posted in 2024.

Dr. Steve Dawson President & CEO

Financial Summary

Revenue

The revenue for the SinterCast Group relates primarily to income from series production, equipment, and engineering service.

Revenue Breakdown	April−June		January−June
(Amounts in SEK million)	2025	2024	2025	2024
Recurring revenue from series production1	28.7	33.6	55.3	64.2
Equipment2	2.1	1.3	2.3	2.4
Engineering service3	0.3	0.3	0.5	0.6
Total	31.1	35.1	58.1	67.3
Number of Sampling Cups shipped	58,050	56,700	103,950	101,300

Recurring revenue from production fees, consumables and software licence fees

2 Revenue from sold and leased CGI and Tracking system installations and spare parts

Revenue from engineering service, demonstrations and test pieces

The April−June 2025 revenue decreased by 11.5% to SEK 31.1 million (SEK 35.1 million), primarily due to the combined impact of the stoppage of a high-volume programme in September 2024, and an ongoing slowdown in commercial vehicle sales offset by increased Equipment revenue following the installation of Mini-System 4000 and wirefeeder at the Saroj foundry in India. Recurring revenue from series production decreased by 14.5% amounting to SEK 28.7 million (SEK 33.6 million) and accounting for 92.3% (95.6%) of the total revenue. The total revenue was derived from annualised series production of 3.4 million (4.0 million) Engine Equivalents, shipment of 58,050 (56,700) Sampling Cups and equipment revenue of SEK 2.1 million (SEK 1.3 million). Engineering Service amounted to SEK 0.3 million (SEK 0.3 million). Exchange differences had a negative effect of 2.7% on revenue during the period.

The January−June 2025 revenue decreased by 13.6% to SEK 58.1 million (SEK 67.3 million), primarily due to the previously mentioned stoppage programme and slowdown in commercial vehicle sales. Recurring revenue from series production decreased by 13.9%, amounting to SEK 55.3 million (SEK 64.2 million) and accounting for 95.2% (95.5%) of the total revenue. The total revenue includes annualised series production of 3.25 million (3.95 million) Engine Equivalents, shipment of 103,950 (101,300) Sampling Cups and Equipment revenue of SEK 2.3 million (SEK 2.4 million), following the installation at the Saroj foundry in India and strong aftermarket sales of spare parts. Engineering Service amounted to SEK 0.5 million (SEK 0.6 million). Exchange differences had a negative effect of 3.2% on revenue during the period.

Results

The business activities of SinterCast are best reflected by the Operating Result. This is because the "Result for the period after tax" and the "Earnings per Share" are influenced by the revaluation of tax assets.

Results Summary	April−June		January−June
(Amounts in SEK million if not otherwise stated)	2025	2024	2025	2024
Gross margin, %	71.3	74.9	70.4	72.6
Operating result	11.2	13.1	21.4	20.5
Operating margin, %	36.1	37.4	36.8	30.5
Result for the period after tax	8.8	10.5	16.4	16.6
Earnings per share (SEK)	1.24	1.48	2.33	2.35

The April−June 2025 operating result decreased by SEK 1.9 million to SEK 11.2 million (SEK 13.1 million), due to the combined effect of SEK 4.2 million decrease in gross margin, SEK 1.3 million decrease in operating costs and SEK 1.0 million in improved other operating net cost and income. The decrease in operating costs is primarily related to the reduction in headcount following proactive redundancies effected during 2024. Other operating costs and income combined improved by SEK 1.0 million, primarily due to movements in foreign currencies resulting in unrealised revaluation losses of existing hedge contracts reverted into unrealised gains. The result for the period after tax decreased by SEK 1.7 million to SEK 8.8 million (SEK 10.5 million), primarily due to the SEK 1.9 million decrease in operating result and the decrease in calculated income tax of SEK 0.2 million.

The January–June 2025 operating result increased by SEK 0.9 million to SEK 21.4 million (SEK 20.5 million), due to the combined effect of a SEK 2.2 million decrease in operating costs, improved other operating cost and net income of SEK 6.6 million, and a SEK 7.9 million decrease in gross margin. The decrease in operating costs is primarily related to the reduction in headcount following proactive redundancies effected during 2024. Other operating costs and income combined improved by SEK 6.6 million, primarily due to movements in foreign currencies resulting in unrealised revaluation losses of existing hedge contracts reverted into unrealised gains. The result for the period after tax decreased by SEK 0.2 million to SEK 16.4 million (SEK 16.6 million), primarily due to the SEK 0.9 million decrease in operating result and the increase in calculated income tax of SEK 1.1 million.

Income Tax and Deferred Tax Asset

Tax cost for the January−June 2025 period amounted to SEK 4.9 million (SEK 3.8 million). The Group's total carried forward tax losses, remaining to be utilised, are calculated to be SEK 180.4 million (SEK 228.2 million), resulting in a deferred tax asset of SEK 37.2 million (SEK 47.0 million). As a result of the current market uncertainty and USD / SEK exchange rates, it is estimated that the timeline for SinterCast to begin to pay Swedish income tax will shift from the previously forecast "late-2027 or early-2028" to the first half of 2028.

Cashflow, Liquidity and Investments

The January−June 2025 cashflow from operations decreased by SEK 10.4 million, compared to the same period last year, primarily due to a SEK 10.7 million increase in working capital and increased cashflow before changes in working capital of SEK 0.3 million. The cashflow from change in working capital amounted to SEK -1.8 million (SEK 8.9), primarily due to a SEK 2.2 million (SEK -10.4 million) increase in accounts receivable and a SEK 3.4 million (SEK 0.8 million) decrease in operating liabilities. Total investments amounted to SEK 0.5 million (SEK 1.2 million). Following the dividend payment of SEK 24.7 million, the share buyback of SEK 1.7 million and the IFRS 16 lease payment of SEK 0.8 million, total cashflow amounted to SEK -6.3 million (SEK 7.0 million). Liquidity on 30 June 2025 was SEK 16.7 million (SEK 19.2 million), plus an overdraft credit facility in the amount of SEK 12.5 million, providing effective liquidity of SEK 29.2 million. SinterCast currently has no loans.

Cashflow Summary	January−June		∆
(Amounts in SEK million if not otherwise stated)	2025	2024	2025 vs 2024
Cashflow from operations, before change in working capital	23.1	22.9	0.3
Change in working capital	-1.8	8.9	-10.7
Cashflow from operations	21.4	31.8	-10.4
Cashflow from investing activities	-0.5	-1.2	0.7
Cashflow from financing activities	-27.2	-23.6	-3.6
Cashflow total	-6.3	7.0	-13.3
Liquidity	16.7	19.2

Risks and Uncertainty Factors

Uncertainty factors for SinterCast include: the timing of OEM decisions for new CGI engines and other components; adherence to start-of-production dates and ramp projections; the longevity of each engine programme; the possibility that the volume of existing programmes may decrease or come to end-of-life earlier than expected; the global economy for new vehicle sales; technology trends and emissions legislation; and, the individual sales success of vehicles equipped with SinterCast-CGI components.

The increasing economic and geopolitical instability, exacerbated by recent trade and tariff confrontations and ongoing armed conflict in multiple regions, constitute the dominant near-term risk factors for the global foundry and automotive industries. While it is not yet possible to quantify the impact of these factors on the near-term market development, SinterCast remains confident in the long-term growth of CGI. Other factors that may influence the market risk for SinterCast and its end-user industries include the renegotiation of international tariffs and free-trade agreements on vehicle sales, climate change legislation and the associated growth of alternative powertrain technologies, and the overall demand for goods transportation. The development of AI may also increase the possibilities to develop potentially competitive technologies or to reverse engineer the SinterCast technology.

No significant risk of material adjustment to the carrying amounts of assets and liabilities has been identified at the balance sheet date. For additional risk and uncertainty factor information, see the SinterCast Annual Report.

Organisation

With successful high volume CGI production in customer foundries located in Europe, Asia and the Americas, SinterCast has established a global organisation with employees and offices in Sweden, the United Kingdom, the United States, China, Germany and Portugal. As of 30 June 2025, the Group had 26 (27) employees, 7 (6) of whom are female. Benefitting from accumulated experience and efficiency improvements, SinterCast is well positioned to support global market activities and to drive the future growth of the company.

Parent Company

SinterCast AB (publ) is the Parent Company of the SinterCast Group, with its registered office located in Stockholm, Sweden. On 30 June 2025, the Parent Company had 21 (22) employees. The average number of employees during the period was 21 (23). The majority of the operations are managed by the Parent Company while local operations in the United Kingdom, United States and China are managed by the local companies. The information given for the Group in this report corresponds in all material respects to the Parent Company. However, the result for the period may differ between the group and the Parent Company due to intercompany transactions between the Parent Company and its subsidiaries.

Outlook Guidance

The ongoing changes regarding international tariffs have created considerable uncertainty in the automotive sector, potentially impacting sales volumes for current programmes, the timing for the start of production of new programmes, and investment planning for new foundry installations. This uncertainty may impact our previously established targets for reaching the five million Engine Equivalent milestone before the end of 2026 and for posting more than SEK 11.4 million in 2025 installation revenue. The related uncertainties on the USD / SEK exchange rate may extend beyond the protections provided by our current hedge programme, impacting future profitability. It is currently expected that SinterCast will begin to pay Swedish income tax during the first half of 2028. International tariffs, particularly unbalanced tariffs, may affect the competitive position of SinterCast foundry customers in some countries.

The delay of EPA 2027 and Euro 7 legislation will negate the previously expected pre-buy effect in 2026, impacting near-term volumes by approximately 100,000 Engine Equivalents. The heavy-duty commercial vehicle sector is increasingly focussing on internal combustion engines running on clean fuels, rather than electrification. SinterCast expects that the penetration of CGI in heavy duty commercial vehicles will grow from the current level of 40~50% to more than 80% before the end of the decade, with strong production demand beyond 2040.

The Share and Analysts

The SinterCast share has been listed and quoted on the Small Cap segment of the Nasdaq Stockholm stock exchange, since 26 April 1993. SinterCast share capital is SEK 7,090,133 at par value of approximately SEK 1 per share. ABG Sundal Collier is the appointed liquidity provider for the SinterCast share.

The following analysts cover SinterCast: Henric Hintze at ABG Sundal Collier, [email protected], +46 8 566 294 89 Philip Wendt at Aktiespararna, [email protected], +46 8 50 65 15 00

Accounting Principles

The information provided on behalf of the group in this interim report has been prepared in accordance with Sweden's Annual Accounts Act and IAS 34 Interim Financial Reporting. The reporting for the Parent Company has been prepared in accordance with Sweden's Annual Accounts Act, chapter 9 interim report, and RFR 2. The accounting policies that have been applied for the group and the Parent Company agree with the accounting policies used in the preparation of the company's latest Annual Report.

Fair Value Measurement of Financial Assets and Liabilities

The group has financial assets consisting of derivative instruments (included in other debtors or other creditors) and commercial papers and fixed income instruments. The fair value of derivative instruments, not traded on an active market, is based on observable market currency rates. Cash flows are discounted using market interest rates. Commercial papers and fixed income instruments are traded on an active market and the fair value is determined by available market prices. These effects are recognised in the profit & loss statement.

Rounding

The total amount shown in tables and statements may not always sum to the same value due to rounding differences. The primary objective is for each line item to correspond to the source. This may sometimes result in rounding or truncation differences in the total.

Alternative Performance Measures are defined and included in this report in the Key Ratio and Share Data tables. More information of Accounting Policies is included in the Annual Report 2024, pages 46-51.

Material Transactions and Events during the Period

The Annual General Meeting (AGM) of the shareholders, held on 20 May 2025, re-elected Robert Dover, Steve Gill, Einar Ahlström, Per Borgklint and Steve Dawson as Board Members. Robert Dover was elected as Chairman of the Board. The AGM also elected Henriette Zeuchner as a new ordinary Board Member. For full information: https://www.sintercast.com/investor/general-meetings-agmegm/

Material Transactions and Events after the Balance Sheet Date

No material transactions have taken place between SinterCast and the Board or the Management during the period. The following press releases were issued during the period:

11 April 2025 Notice of the Annual General Meeting of SinterCast Aktiebolag
30 April 2025 SinterCast Results January March 2025
13 May 2025 SinterCast secures license agreement in China for large marine engine production
20 May 2025 SinterCast Annual General Meeting 2025
20 May 2025 SinterCast continues share buyback
23 May 2025 Scania announces new engine with SinterCast technology
9 June 2025 SinterCast partner Tupy receives high-volume CGI order for commercial vehicles in North America

There have been no significant events since the balance sheet date of 30 June 2025 that could materially change these financial statements. The following press releases were issued after the balance sheet date:

8 July 2025 – SinterCast series production up 10% in second quarter

Dividend Policy and Dividend

The Board's intention is to continue to provide an ordinary dividend to the shareholders, based primarily on the cashflow from operations, after investments. In the event that the Board considers that the liquidity exceeds the amount needed to support the operational requirements and strategic objectives, the Board has the option to propose an extraordinary dividend or a share buyback to further adjust the liquidity. The first dividend was distributed in May 2011 for the financial year 2010 and an increasing ordinary dividend has been distributed every year since then. Since 2019, the dividend has been distributed in two equal instalments. Since the first dividend was provided, and including the current dividend proposal, SinterCast will have distributed SEK 375 million to its shareholders, representing 110% of its operating result over the period. The cumulative dividend amounts to SEK 53.00 per share.

Dividend 2025

The Annual General Meeting (AGM) of the shareholders decided on an ordinary dividend of SEK 6.00 per share (SEK 5.50 per share) with an extraordinary dividend of SEK 1.00 (SEK 0.60 per share), representing a distribution of SEK 49.5 million (SEK 43.1 million) to the shareholders of SinterCast AB (publ) for the financial year 2024. The dividend will be distributed in two equal payments of SEK 3.50 per share, with the record date 22 May 2025 for the first payment and 7 November 2025 as the record date for the second payment.

Share Buyback

Following the authorisation granted by the shareholders at the Annual General Meeting (AGM) on 20 May 2025, the Board of Directors of SinterCast AB has decided to directly activate a new share buyback programme with an initial amount of up to SEK 5 million. Repurchases shall be made in advance of the SinterCast AGM 2026, to be held on 19 May 2026. As of 30 June 2025, SinterCast holds 25,223 of its own shares.

Information

July–September 2025 08:00 CET on 5 November 2025 October–December 2025 and Full Year Results 2025 08:00 CET on 17 February 2026 January–March 2026 08:00 CET on 29 April 2026 April–June 2026 08:00 CET on 19 August 2026

This report has not been reviewed by the company's Auditors.

Interim Reports Publication Date

The Board of Directors and the CEO certify that the half-yearly financial report provides a true and fair overview of the operations, outlook, financial position and results of the Company and the group, and accurately describes the material risks and uncertainties that the Company and the companies in the group face.

Stockholm 20 August 2025

Robert Dover Steve Gill Einar Ahlström

Chairman of the Board Member of the Board Member of the Board

Per Borgklint Henriette Zeuchner Steve Dawson Member of the Board Member of the Board President & CEO

Member of the Board

For further information please contact:

Dr. Steve Dawson
President & CEO
SinterCast AB (publ)
Office:	+46 150 794 40
Mobile:	+44 771 002 6342
e-mail:	[email protected]
website:	www.sintercast.com
Corp. Id.	556233-6494

This press release contains information SinterCast AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act. This information was submitted for publication, through the agency of the President & CEO Dr. Steve Dawson, at 08:00 CET on 20 August 2025.

SinterCast is the world's leading supplier of process control technology for the reliable high volume production of Compacted Graphite Iron (CGI). Stronger, stiffer and more durable than conventional iron, CGI enables the development of smaller, lighter and more fuel efficient engines in passenger vehicle, commercial vehicle and industrial power applications. The use of SinterCast-CGI currently contributes to the reduction of approximately ten million tonnes of CO2 per year. With 58 installations in 13 countries, SinterCast provides sustainable solutions for manufacturing and transportation to the global foundry and automotive industries. SinterCast is a publicly traded company, quoted on the Small Cap segment of the Nasdaq Stockholm stock exchange (SINT). For more information: www.sintercast.com

Income Statement – Group

	April−June			January−June		January−December
Amounts in SEK million	2025	2024	2025	2024	2024	2023
Revenue	31.1	35.1	58.1	67.3	135.6	134.4
Cost of goods sold	-8.9	-8.8	-17.2	-18.4	-37.3	-35.9
Gross result	22.2	26.3	40.9	48.9	98.3	98.5
Cost of sales and marketing	-7.4	-8.9	-15.0	-16.7	-33.6	-34.7
Cost of administration	-2.9	-2.6	-4.8	-4.8	-10.0	-9.9
Cost of research & development	-1.8	-1.9	-3.4	-4.0	-6.9	-12.5
Other operating costs & income	1.2	0.2	3.7	-2.9	-4.7	1.2
Operating result	11.2	13.1	21.4	20.5	43.2	42.7
Financial income	0.1	0.1	0.1	0.1	0.4	0.2
Financial costs	-0.1	-0.1	-0.2	-0.2	-0.4	-0.4
Financial net	0.0	0.0	-0.1	-0.1	0.0	-0.1
Result before income tax	11.2	13.1	21.4	20.4	43.2	42.6
Income tax	-2.4	-2.7	-4.9	-3.8	-9.0	-0.4
Result for the period	8.8	10.5	16.4	16.6	34.3	42.1
Result attributable to:
Equity holder of the parent company	8.8	10.5	16.4	16.6	34.3	42.1
Non-controlling interests	-	-	-	-	-	-
Earnings per share, SEK	1.24	1.48	2.33	2.35	4.85	5.94
Earnings per share, diluted, SEK	1.24	1.48	2.33	2.35	4.85	5.94
Number of shares at the close of the period, thousands	7,042.3	7,067.5	7,042.3	7,067.5	7,055.3	7,078.8
Average number of shares, thousands	7,045.2	7,067.8	7,042.3	7,067.8	7,067.4	7,088.9
Average number of shares, diluted	7,045.2	7,067.8	7,042.3	7,067.8	7,067.4	7,088.9

Statement of Result and Other Comprehensive Income – Group

		April−June	January−June		January−December
Amounts in SEK million	2025	2024	2025	2024	2024	2023
Result for the period	8.8	10.5	16.4	16.6	34.3	42.1
Other comprehensive income
Items may be reclassified to the income statement
Translation differences, foreign subsidiaries	-0.3	0.0	-0.3	0.2	0.3	-0.6
Other comprehensive income, net of tax	-0.3	0.0	-0.3	0.2	0.3	-0.6
Total comprehensive income for the period	8.4	10.5	16.1	16.9	34.6	41.5
Total comprehensive income attributable to:
Shareholder of the parent company	8.4	10.5	16.1	16.9	34.6	41.5
Non-controlling interests	-	-	-	-	-	-

Balance Sheet – Group

	30 Jun	30 Jun	31 Mar	31 Mar	31 Dec	31 Dec
Amounts in SEK million	2025	2024	2025	2024	2024	2023
ASSETS
Intangible assets	0.9	1.4	1.0	1.5	1.1	1.7
Tangible assets*	7.6	9.2	8.0	8.0	8.1	8.7
Other long term receivables	0.0	0.4	0.0	0.4	0.1	0.4
Deferred tax asset	37.2	47.0	39.6	49.7	42.0	50.9
Total fixed assets	45.7	58.0	48.6	59.7	51.3	61.6
Inventory	12.7	14.8	13.0	13.7	12.1	14.1
Short-term receivables	35.7	33.2	32.4	33.3	37.9	43.6
Short term deposits and cash at bank and in hand	16.7	19.2	33.2	25.8	23.1	12.3
Total current assets	65.1	67.2	78.6	72.8	73.1	70.0
Total assets	110.7	125.2	127.2	132.5	124.4	131.6
SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity	68.0	86.2	108.7	118.9	102.9	113.6
Long term liabilities*	0.6	0.7	0.7	0.2	0.4	0.5
Current liabilities*	42.1	38.3	17.8	13.4	21.1	17.5
Total liabilities	42.7	39.0	18.5	13.6	21.5	17.9
Total shareholders' equity and liabilities	110.7	125.2	127.2	132.5	124.4	131.6

* Includes right of use assets (SEK 1.5 million), long term lease liability (SEK 0.6 million) and short term lease liabilities (SEK 0.9 million)

Statement of Changes in Equity – Group

Amounts in SEK million	Share Capital	Paid in Capital	Exchange Differences	Cumulative Results	Total Equity
Opening balance 1 January 2024	7.1	44.9	1.0	60.6	113.6
Total comprehensive income
Result for the period	-	-	-	16.6	16.6
Other comprehensive income	-	-	0.2	-	0.2
Total comprehensive income	-	-	0.2	16.6	16.9
Repurchase own shares	-	-	-	-1.2	-1.2
Dividend	-	-	-	-43.1	-43.1
Closing balance 30 June 2024	7.1	44.9	1.3	33.0	86.2
Opening balance 1 January 2025	7.1	44.9	1.4	49.6	102.9
Total comprehensive income
Result for the period	-	-	-	16.4	16.4
Other comprehensive income	-	-	-0.3	-	-0.3
Total comprehensive income	-	-	-0.3	16.4	16.1
Fund reallocation to unrestricted equity	-	-9.5	-	9.5	0.0
Repurchase own shares	-	-	-	-1.7	-1.7
Dividend	-	-	-	-49.3	-49.3
Closing balance 30 June 2025	7.1	35.3	1.1	24.5	68.0

Cashflow Statement – Group

	April−June		January−June		January−December
Amounts in SEK million	2025	2024	2025	2024	2024	2023
Operating activities
Operating result	11.2	13.1	21.4	20.5	43.2	42.7
Adjustments for items not included in the cash flow
Depreciation	0.9	1.1	1.8	2.0	4.3	6.4
Other	0.1	0.0	0.1	0.3	0.2	0.2
Unrealised exchange rate differences	0.1	0.2	0.0	0.2	0.4	0.0
Received interest	0.1	0.1	0.1	0.1	0.4	0.2
Paid interest	-0.1	-0.1	-0.2	-0.2	-0.4	-0.4
Paid income tax	0.0	-0.1	-0.1	-0.1	-0.1	-0.4
Total cashflow from operating activities	12.3	14.3	23.1	22.9	48.0	48.7
before change in working capital
Change in working capital
Inventory	0.3	-1.1	-0.6	-0.7	2.1	2.5
Operating receivables	-3.2	0.1	2.3	10.4	5.9	-6.1
Operating liabilities	-0.2	3.3	-3.4	-0.8	3.6	0.4
Total change in working capital	-3.2	2.3	-1.8	8.9	11.6	-3.2
Cashflow from operations	9.1	16.6	21.4	31.8	59.6	45.5
Investing activities
Acquisition of intangible assets	0.0	0.0	0.0	0.0	-	-0.5
Acquisition of tangible assets	-0.4	-1.1	-0.5	-1.2	-1.8	-5.1
Cashflow from investing activities	-0.4	-1.1	-0.5	-1.2	-1.8	-5.6
Financing activities
Payment lease liability	-0.4	-0.5	-0.8	-0.9	-1.7	-1.6
Dividend	-24.6	-21.6	-24.6	-21.6	-43.1	-39.0
Repurchase own shares	0.0	0.0	-1.7	-1.2	-2.2	-1.2
Cashflow from financing activities	-25.1	-22.1	-27.2	-23.6	-47.0	-41.8
Exchange rate differences in cash and cash equivalents	0.0	0.0	0.0	0.0	0.0	0.0
Cashflow for the period	-16.4	-6.5	-6.3	7.0	10.8	-1.9
Cash - opening balance	33.2	25.8	23.1	12.3	12.3	14.2
Cash - closing balance*	16.7	19.2	16.7	19.2	23.1	12.3

* The cash and cash equivalents comprise short-term deposits and cash at bank and in hand

Key Ratio and Share Data – Group

April−June			January−June		January−December
Amounts in SEK million	2025	2024	2025	2024	2024	2023
Key Ratio
Revenue*	31.1	35.1	58.1	67.3	135.6	134.4
Gross margin, %	71.3	74.9	70.4	72.6	72.5	73.3
Operating result	11.2	13.1	21.4	20.5	43.2	42.7
Operating margin, %	36.1	37.4	36.8	30.5	31.9	31.8
Result for the period*	8.8	10.5	16.4	16.6	34.3	42.1
Solidity, %	61.4	68.9	61.4	68.9	82.7	86.4
Shareholders' equity	68.0	86.2	68.0	86.2	102.9	113.6
Capital employed	68.0	86.2	68.0	86.2	102.9	113.6
Total assets	110.7	125.2	110.7	125.2	124.4	131.6
Return on shareholders' equity, %	9.9	10.2	19.2	16.6	31.6	37.3
Return on capital employed, %	9.9	10.2	19.2	16.6	31.6	37.3
Return on total assets, %	7.4	8.1	14.0	13.0	26.8	32.1
Employees
Number of employees at the end of the period	26	27	26	27	25	28
Data per Share
Earnings per share, SEK*	1.24	1.48	2.33	2.35	4.85	5.94
Dividend per share, SEK	3.50	3.05	3.50	3.05	6.10	5.50
Cashflow from operations per share, SEK	1.29	2.34	3.03	4.48	8.41	6.42
Share price at the end of the period, SEK	117.5	101.0	117.5	101.0	107.0	102.0

* According to IFRS. All other key ratios and share data are defined as Alternative Performance Measures (APMs).

Gross margin %	Average number of shares
Gross results as percentage of revenue	Weighted average outstanding shares, excluding repurchased
Operating margin %	shares, for the period
Operating results as percentage of revenue	Average number of shares adjusted for dilution
Solidity %	Weighted average of the number of shares for the period ,
Adjusted shareholders' equity expressed as percentage of total	excluding repurchased shares, adjusted for dilution
assets end of period	Earnings per share
Equity per share	Result for the period divided by the average number of shares
Shareholders' equity divided by the average number of shares	Earnings per share, diluted
Capital employed	Result for the period divided by the average number of shares
Total assets less non-interest bearing liabilities	adjusted for dilution
Return on shareholders' equity %	Dividend per share
Result for the period as a percentage of average shareholders'	Dividend divided by the number of shares
equity. Quarterly values are not annualised	Cashflow from operations per share
Return on capital employed %	Cashflow from operations divided by the number of shares
Result for the period as a percentage of average capital employed	Share price at the end of the period
Quarterly values are not annualised	Latest paid price for the SinterCast share at NASDAQ Stockholm
Return on total assets %	Value presented as "0.0"
Result for the period as a percentage of total average assets.	Amount below SEK 50,000
Quarterly values are not annualised	Value presented as "-"
	No amount applicable

Income Statement – Parent Company

	April−June			January−June		January−December
Amounts in SEK million	2025	2024	2025	2024	2024	2023
Revenue	31.0	34.9	58.1	66.8	134.4	133.3
Cost of goods sold	-9.2	-9.6	-18.1	-19.6	-39.3	-38.4
Gross result	21.8	25.3	40.0	47.2	95.1	94.9
Cost of sales and marketing	-7.4	-8.5	-15.0	-16.3	-32.4	-34.6
Cost of administration	-3.0	-2.6	-4.8	-4.8	-10.0	-9.7
Cost of research & development	-1.8	-1.9	-3.4	-4.0	-6.9	-12.5
Other operating costs & income	1.7	0.3	5.8	-3.8	-6.5	1.3
Operating result	11.3	12.5	22.6	18.3	39.4	39.4
Result from shares in subsidiaries	0.0	0.0	0.0	0.0	1.8	0.0
Financial income	0.1	0.1	0.1	0.1	0.4	0.2
Financial costs	-0.2	-0.3	-0.4	-0.5	-0.9	-0.7
Financial net	-0.1	-0.2	-0.3	-0.3	1.2	-0.5
Result before income tax	11.1	12.4	22.2	17.9	40.6	38.9
Income tax	-2.3	-2.5	-4.6	-3.7	-8.4	-2.1
Result for the period	8.9	9.8	17.6	14.2	32.2	36.8
Earnings per share, SEK	1.26	1.39	2.51	2.01	4.55	5.20
Earnings per share, diluted, SEK	1.26	1.39	2.51	2.01	4.55	5.20
Number of shares at the close of the period, thousands	7,042.3	7,067.5	7,042.3	7,067.5	7,055.3	7,078.8
Average number of shares, thousands	7,045.2	7,067.8	7,042.3	7,067.8	7,067.4	7,088.9
Average number of shares, diluted	7,045.2	7,067.8	7,042.3	7,067.8	7,067.4	7,088.9

Statement of Result and Other Comprehensive Income – Parent Company

Amounts in SEK million	April−June		January−June		January−December
	2025	2024	2025	2024	2024	2023
Result for the period	8.9	9.8	17.6	14.2	32.2	36.8
Total comprehensive income for the period	8.9	9.8	17.6	14.2	32.2	36.8

Balance Sheet – Parent Company

	30 Jun	30 Jun	31 Mar	31 Mar	31 Dec	31 Dec
Amounts in SEK million	2025	2024	2025	2024	2024	2023
ASSETS
Intangible assets	0.9	1.4	1.0	1.5	1.1	1.7
Tangible assets	6.1	7.1	6.1	6.5	6.5	6.8
Other long term receivables	1.8	2.2	1.8	2.2	1.9	2.2
Deferred tax asset	36.0	45.3	38.3	47.9	40.6	49.0
Total fixed assets	44.9	56.1	47.4	58.2	50.1	59.7
Inventory	12.4	14.5	12.7	13.4	11.8	13.9
Short-term receivables	37.8	33.6	33.1	33.1	38.2	43.2
Short term deposits and cash at bank and in hand	14.0	17.3	32.1	23.6	21.6	10.6
Total current assets	64.1	65.4	78.0	70.1	71.6	67.7
Total assets	109.0	121.5	125.3	128.3	121.7	127.4
SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity	46.8	63.2	87.2	96.5	80.1	93.3
Current liabilities	62.2	58.2	38.1	31.7	41.6	34.1
Total liabilities	62.2	58.2	38.1	31.7	41.6	34.1
Total shareholders' equity and liabilities	109.0	121.5	125.3	128.3	121.7	127.4

Amounts in SEK million		Restricted Equity			Unrestricted Equity
	Share Capital	Statutory Reserve	Reserve Developm. Costs	Share Premium Reserve	Results brought Forward	Results for the Year	Total Equity
Opening balance 1 January 2024	7.1	9.5	1.1	35.3	3.3	36.8	93.3
Appropriation of last year's result	-	-	-	-	36.8	-36.8	-
Depreciation, development costs	-	-	-0.2	-	0.2	-	-
Total comprehensive income	-	-	-	-	-	14.2	14.2
Repurchase own shares	-	-	-	-	-1.2	-	-1.2
Dividend	-	-	-	-	-43.1	-	-43.1
Closing balance 30 June 2024	7.1	9.5	0.9	35.3	-3.8	14.2	63.2
Opening balance 1 January 2025	7.1	9.5	0.7	35.3	-4.7	32.2	80.1
Appropriation of last year's result	-	-	-	-	32.2	-32.2	-
Capitalised development costs	-	-	-	-	-	-	-
Depreciation, development costs	-	-	-0.1	-	0.1	-	-
Total comprehensive income	-	-	-	-	-	17.6	17.6
Fund reallocation to unrestricted equity	-	-9.5	-	-	9.5	-	-
Repurchase own shares	-	-	-	-	-1.7	-	-1.7
Dividend	-	-	-	-	-49.3	-	-49.3
Closing balance 30 June 2025	7.1	0.0	0.6	35.3	-13.9	17.6	46.8

AI Terminal

3200_ir_2025-08-20_3c1b67ee-d33b-4706-8310-cbb81c20ba14.pdf