Electrolux Professional

Quarterly Report • Apr 29, 2025

First quarter, January–March 2025

• > Net sales amounted to SEK 3,073m (3,055), an increase of 0.6%. Organically, sales decreased by 0.4%. The acquisition of Adventys contributed with 0.7%. Currency translation had a positive effect of 0.3%.
• > EBITA amounted to SEK 363m (326), corresponding to a margin of 11.8% (10.7).
• > Operating income amounted to SEK 306m (271), corresponding to a margin of 9.9% (8.9).
• > Income for the period amounted to SEK 199m (171), and earnings per share was SEK 0.69 (0.60).
• > Operating cash flow after investments amounted to SEK 175m (183).

Key ratios

SEKm	Jan–Mar 2025	Jan–Mar 2024	Change, %
Net sales	3,073	3,055	0.6
EBITA*	363	326	11.3
EBITA margin, %*	11.8	10.7
Operating income*	306	271	12.9
Operating margin, %*	9.9	8.9
Income after financial items	285	237	19.9
Income for the period	199	171	16.3
Earnings per share, SEK¹	0.69	0.60
Operating cash flow after investments*	175	183
Operating working capital % of net sales*	16.1	17.7

*) Alternative performance measures used in this report are explained on pages 20–21.

1) Basic number of outstanding shares.

Increased profit and growing geopolitical uncertainty

The first quarter of 2025 was another step in the right direction. Although sales were at the same level as last year, the EBITA margin increased to 11.8% (10.7).

We are currently showing good business progress across the company, but the new US tariffs announced in April have created extensive global macroeconomic uncertainty. The consequences of these measures and the effects on the general business cycle are currently hard to assess, but have had no impact on demand to date.

Stable development for Food & Beverage

Food & Beverage declined by 1.2% organically. This was mainly driven by a weak development in Middle East, a weak start of the year for Beverage, and a sales decline from a very strong corresponding quarter last year in Europe. Sales in the US continued to develop positively.

EBITA margin declined slightly to 10.2% due to higher investments in marketing and R&D, as

well as lower sales in APAC-MEA and in Beverage.

Order intake for Food & Beverage was higher than last year, driven by relatively strong US and APAC-MEA, while Europe was somewhat down compared to a strong reference last year.

Improved profitability for Laundry

Laundry sales grew by 0.9% organically despite a sales decline in the US after the strong inventory build-up during the fourth quarter of 2024.

EBITA margin improved to 17.3% driven by volume growth, and the burden of integration cost in the corresponding quarter of last year.

Order intake was lower than a year ago. Overall, Laundry has been developing well, with good progress in both Europe and the US.

We showed good business progress during the quarter with an order intake on a relatively good level. However, the current geopolitical and macroeconomic uncertainties makes it hard to predict how the market will develop. This said, we have so far been able to navigate uncertain situations, and we have proven to be resilient.

Alberto Zanata, President and CEO

Alberto Zanata, President and CEO

Important exhibitions

During the quarter, several important exhibitions took place. At the HOTERES exhibition in Japan we demonstrated a large Food product range for the first time including combi ovens, blast chillers, panini grills and food preparation equipment that will be distributed through the TOSEI network together with vacuum packing products. At NAFEM in the US, we demonstrated a large range of Food & Beverage products, and we had a record high number of visitors and leads. We also attended the HOTELEX exhibition in China where we presented our new dishwashers and cooking products manufactured in China with a great response from customers.

Macroeconomic uncertainty

The new US tariffs will have some impact on our business since products imported to the US represents approximately 12% of Group sales. However, most of our Food products sold in the US are made in the US while Beverage products are imported to the US, mainly from Thailand. This means

that for the Food & Beverage business, products imported to the US represent approximately 10% of the total segment. For the Laundry business, products are imported to the US from Sweden and Thailand and this business represents approximately 15% of total sales for the Laundry segment.

Based on the current tariff levels, the impact after mitigating activities is expected to be limited on the result in 2025.

We showed good business progress during the quarter with an order intake on a relatively good level. However, the current geopolitical and macroeconomic uncertainties makes it hard to predict how the market will develop. This said, we have so far been able to navigate uncertain situations, and we have proven to be resilient. We have initiated activities to mitigate a large part of the impact from the current tariffs. This makes me confident that we will be able to navigate this situation too.

Alberto Zanata,

President and CEO

Financial overview

Development during the first quarter, January–March 2025

Net sales

Net sales for the first quarter amounted to SEK 3,073m (3,055), an increase of 0.6% compared to the same period last year. Organically, sales decreased by 0.4%. The acquisition of Adventys contributed by 0.7%. Currency had a positive effect of 0.3%.

Sales in Food & Beverage decreased organically by 1.2%, and sales in Laundry, increased organically by 0.9%.

Organically, sales in Europe increased by approximately 2%, while sales in Americas were about flat, and declined by 7% in Asia-Pacific, Middle East and Africa.

Changes in net sales, %	Jan–Mar 2025	Jan–Mar 2024
Organic growth*	–0.4	–4.3
Acquisitions*	0.7	8.1
Divestments*	–	–
Changes in exchange rates	0.3	–0.9
Total	0.6	2.9

*) Alternative performance measures used in this report are explained on pages 20–21.

Operating income and EBITA

Operating income excluding amortization of intangible assets (EBITA) amounted to SEK 363m (326), corresponding to a margin of 11.8% (10.7). Operating income amounted to SEK 306m (271), corresponding to a margin of 9.9% (8.9). Price, lower material costs, higher sales in Laundry, and improved performance in Food & Beverage in Americas contributed to EBITA, while marketing and innovation costs were higher. In addition, the corresponding quarter of last year was burdened by integration costs of SEK 38m.

Financial net

Net financial items amounted to SEK –21m (–33). Finance net is lower due to lower debt and currency impact.

Income for the period

Income for the first quarter amounted to SEK 199m (171), corresponding to SEK 0.69 (0.60) in earnings per share. Income tax for the period amounted to SEK –86m (–66). The tax rate for the first quarter was 30.1% (27.9). Income tax was higher mainly due to tax on internal dividends.

Group common cost

Group common cost was SEK –36m (–40).

Sales and EBITA margin

In the first quarter, Food & Beverage sales were SEK 1,859m (1,852), an increase by 0.4% compared to the same period last year. Organically, sales decreased by 1.2%, the acquisition of Adventys contributed by 1.1%, and currency had an effect of 0.5%.

Sales increased in Americas by approximately 3% but decreased by approximately 3% in Europe and by 4% in Asia-Pacific, Middle East and Africa (APMEA). The increase in sales in Americas was

mainly driven by continued strong sales development to chains. The sales decline in Europe is against a very strong development in South Europe in the corresponding quarter of last year, but also a week start of the year in Beverage. The decline in APMEA is mainly related to the Middle East.

Operating income excluding amortization of intangible assets (EBITA) amounted to SEK 189m (201), corresponding to a margin

of 10.2% (10.9). The decline in EBITA is mainly due to lower sales of Beverage, and higher investments in marketing and R&D. The corresponding quarter of last year also included integration costs of SEK 11m.

Operating income amounted to SEK 145m (162), corresponding to a margin of 7.8% (8.7).

SEKm	Jan–Mar 2025	Jan–Mar 2024	Change, %	Full-year 2024
Net sales	1,859	1,852	0.4	7,585
Organic growth, %	–1.2	–3.4		–2.7
Acquisitions, %	1.1	3.1		3.3
Changes in exchange rates, %	0.5	–1.0		–1.0
EBITA	189	201	–5.9	808
EBITA margin, %	10.2	10.9		10.6
Operating income	145	162	–10.4	637
Operating margin, %	7.8	8.7		8.4

Net sales and EBITA margin

In the first quarter, Laundry sales were SEK 1,214m (1,203), an increase by 0.9% compared to the same period last year. Organically, sales increased by 0.9%, and currency changes were neutral.

Sales increased organically by approximately 9% in Europe, but declined by 14% in Americas, and by 10% in Asia-Pacific, Middle East and Africa. The decline in Americas was mainly due to the strong

inventory build-up during the fourth quarter of 2024. However, sales from our distributor to end customers in the Americas were postive in the quarter.

Operating income excluding amortization of intangible assets (EBITA) amounted to SEK 210m (165), corresponding to a margin of 17.3% (13.7). The improved EBITA margin is due to higher sales,

price and lower material costs. The corresponding quarter of last year also included integration costs of SEK 26m. Operating income amounted to SEK 196m (150), corresponding to a margin of 16.2% (12.4).

SEKm	Jan–Mar 2025	Jan–Mar 2024	Change, %	Full-year 2024
Net sales	1,214	1,203	0.9	4,998
Organic growth, %	0.9	–5.9		4.5
Acquisitions, %	–	16.9		14.2
Changes in exchange rates, %	0.1	–0.6		–0.6
EBITA	210	165	27.4	811
EBITA margin, %	17.3	13.7		16.2
Operating income	196	150	31.4	752
Operating margin, %	16.2	12.4		15.0

Net sales, EBITA and operating income by segment

SEKm	Jan–Mar 2025	Jan–Mar 2024	Full-year 2024
Food & Beverage
Net sales	1,859	1,852	7,585
EBITA	189	201	808
Amortization	–44	–39	–170
Operating income	145	162	637
Laundry
Net sales	1,214	1,203	4,998
EBITA	210	165	811
Amortization	–14	–15	–59
Operating income	196	150	752
Group common costs
EBITA	–36	–40	–158
Amortization	–	–0	–1
Operating income	–36	–40	–159
Total Group
Net sales	3,073	3,055	12,583
EBITA	363	326	1,461
Amortization	–58	–55	–230
Operating income	306	271	1,231
Financial items, net	–21	–33	–133
Income after financial items	285	237	1,097
Taxes	–86	–66	–295
Income for the period	199	171	803

Cash flow

Operating cash flow after investments amounted to SEK 175m (183). Capital expenditures increased due to innovation projects.

Operating cash flow after investments

SEKm	Jan–Mar 2025	Jan–Mar 2024	Full-year 2024
Operating income	306	271	1,231
Depreciation	82	79	333
Amortization	58	55	230
Other non-cash items	–2	–9	21
Operating income adjusted for non-cash items	443	396	1,815
Change in inventories	–177	–27	60
Change in trade receivables	–59	–149	0
Change in trade payables	49	131	133
Change in other operating assets, liabilities and provisions	–29	–138	–148
Operating cash flow	227	213	1,860
Investments in tangible and intangible assets	–49	–29	–316
Changes in other investments	–3	–1	4
Operating cash flow after investments	175	183	1,548

Operating working capital

Operating working capital as percentage of rolling 12 months net sales amounted to 16.1% in the first quarter compared to 17.7% in the first quarter of 2024.

Operating working capital as percentage of sales

End of period Operating working capital as percentage of annualized latest 3 months net sales

Financial position

Net debt

Net debt

As of March 31, 2025, Electrolux Professional Group had a financial net debt position (excluding lease liabilities and post-employment provisions) of SEK 1,963m compared to SEK 2,090m as of December 31, 2024. Lease liabilities amounted to SEK 334m and net provisions for post-employment benefits amounted to SEK 25m.

In total, net debt amounted to SEK 2,321m as of March 31, 2025, compared to SEK 2,481m as of December 31, 2024. Long-term borrowings amounted to SEK 2,334m. Short term borrowings amounted to SEK 510m. Total borrowings amounted to SEK 2,844m compared to SEK 2,968m as of December 31, 2024.

Liquid funds as of March 31, 2025, amounted to SEK 764m compared to SEK 794m as of December 31, 2024.

Changes in credit facilities and loans

As of March 31, 2025, the Group had SEK 1,300m issued under its SEK 5,000m MTN programme, and issuances under the Group's SEK 2,000m commercial paper programme were SEK 320m. At the end of the quarter, the Group's revolving credit facility of EUR 200m was unutilized. None of the loans and credit facilities contains any financial covenants.

SEKm	March 31, 2025	March 31, 2024	December 31, 2024
Short-term loans	334	445	383
Short-term part of long-term loans	145	77	153
Short-term borrowings	479	522	535
Financial derivative liabilities	14	20	51
Accrued interest expenses and prepaid interest income	18	31	23
Total short-term borrowings	510	573	610
Total long-term borrowings	2,334	2,815	2,358
Total borrowings¹	2,844	3,387	2,968
Cash and cash equivalents	764	877	794
Liquid funds	764	877	794
Financial derivative assets	114	60	82
Prepaid interest expenses and accrued interest income	3	2	2

Financial net debt (total borrowings

Liquid funds and other 881 939 878

less liquid funds and other) 1,963 2,448 2,090

EBITDA*, 2 1,834 1,582 1,794

*) Alternative performance measures used in this report are explained on pages 20–21. 1) Whereof interest-bearing borrowings amounting to SEK 2,813m as of March 31, 2025, SEK 3,336m as of March 31, 2024 and SEK 2,894m as of December 31, 2024. 2) Rolling four quarters. Lease liabilities 334 382 362 Net provisions for post-employment benefits 25 145 29 Net debt* 2,321 2,976 2,481 Net debt/EBITDA ratio* 1,3 1,9 1,4

Parent Company

The Parent Company's activities include head office as well as production and sales in and from Sweden.

Net sales and financial position for the Parent Company,

Net sales for the Parent Company, Electrolux Professional AB, for the period from January 1 to March 31, 2025 amounted to SEK 785m (748) of which SEK 357m (317) referred to sales to Group Companies and SEK 428m (431) to external customers. Income after financial items was SEK 3m (162). Income for the period amounted to SEK 0m (135).

Capital expenditure in tangible and intangible assets was SEK 17m (3).

Cash and cash equivalents at the end of the period amounted to SEK 638m, as against SEK 616m in the beginning of the year.

Undistributed earnings in the Parent Company at the end of the period amounted to SEK 7,155m, as against SEK 7,176m at the beginning of the year.

The income statement and balance sheet for the Parent Company are presented on page 16.

Risk and uncertainty factors

Electrolux Professional Group is an international group with a wide geographic spread and is thus exposed to a number of business and financial risks. Risk management in Electrolux Professional Group aims to identify, control and reduce risks. The risk factors are described in the Annual Report and consist of strategic risks, operational risks, industry risks, sustainability risks and financial risks. Compared to the Annual Report, which was issued on April 2, 2025, and the subsequent frequent announcements by the US administration on tariffs, it is possible that any new reciprocal tariffs on imports into the United States and its impact on the global economy, could have an adverse impact on the Group's business and financial position.

Other disclosures

Conversion of shares

According to Electrolux Professional's articles of association, owners of A-shares have the right to have such shares converted to B-shares. Conversion reduces the total number of votes in the Company. 1,884 shares were converted in the first quarter. The total number of registered shares in the company on March 31, 2025 amounted to 287,397,450 of which 8,027,453 are Series A and 279,369,997 are Series B. The total number of votes amounted to 35,964,452.7.

Members of the Board of Directors

The Nomination Committee of Electrolux Professional proposes election of Shannon Garcia as new member of the Board of Directors of Electrolux Professional AB at its Annual General Meeting on May 7, 2025. Lorna Donatone has chosen to decline re-election.

Employees

The number of employees at the end of the quarter was 4,359 (4,329).

Events after the balance sheet day

After the end of the reporting period, no significant events have taken place that could affect the company's operations.

Annual General Meeting 2025

The 2025 Annual General Meeting will be held on May 7, 2025 at 15.00 at hotel Courtyard by Marriott, Rålambshovsleden 50, Stockholm. Shareholders may exercise their voting rights also by postal voting in accordance with the provisions of Electrolux Professional's Articles of Association.

Stockholm April 29, 2025

Electrolux Professional AB (publ)

Alberto Zanata President and CEO

This report has not been audited or reviewed by external auditors.

This is a translation of the Swedish language original. In the event of any differences between this translation and the Swedish language original, the latter shall prevail.

Exhibitions during the first quarter 2025

Food event ASIA HOTERES, Tokyo

Electrolux Professional debuted its products together with TOSEI at HOTERES JAPAN 2025, Tokyo's largest food service event, showcasing advanced food preparation solutions alongside TOSEI's leading food vacuum range. The event attracted around 850 food service exhibitors and over 60,000 visitors.

Food event ASIA HOTELEX, Shanghai

The HOTELEX Shanghai featured over 3,000 exhibitors showcasing a wide range of products and services in the food industry. Our Electrolux Professional and Veetsan brands presented live demonstrations including the XP range of modular cooking, emphasizing our presence as a leading Chinese manufacturer. The event is significant with close to 300,000 visitors, and highlights our commitment to local production and brand awareness.

Food event AMERICAS NAFEM, Atlanta

At the NAFEM 2025 show in Atlanta, Electrolux Professional Group showcased new, innovative, fully electric steamers focused on reducing energy and carbon emissions, along with equipment offerings from various brands from our Group.

The event also highlighted the recently launched Group brand foundation and tagline, "Meeting needs beyond tomorrow," on full display for the first time.

Financial reports

Consolidated statement of total comprehensive income

SEKm	Jan–Mar 2025	Jan–Mar 2024	Full-year 2024
Net sales	3,073	3,055	12,583
Cost of goods sold	–1,967	–2,001	–8,261
Gross operating income	1 106	1,054	4,322
Selling expenses	–553	–504	–2,049
Administrative expenses	–249	–279	–1,040
Other operating income/expenses	1	–1	–3
Operating income	306	271	1,231
Financial income	265	193	515
Financial expenses	–286	–226	–649
Financial items, net	-21	-33	-133
Income after financial items	285	237	1,097
Taxes	–86	–66	–295
Income for the period	199	171	803
Items that will not be reclassified to income for the period:
Remeasurement of provisions for post-employment benefits	6	–3	106
Income tax relating to items that will not be reclassified	–2	1	–13
Total	4	–2	93

SEKm	Jan–Mar 2025	Jan–Mar 2024	Full-year 2024
Items that may be subsequently reclassified to income for the period:
Cash flow hedges	1	7	2
Net investment hedges	44	–1	2
Exchange-rate differences on translation of foreign operations	–496	225	329
Cost of hedging	0	15	35
Income tax relating to items that may be reclassified	15	–20	–32
Total	–435	226	336
Other comprehensive income, net of tax	–431	224	429
Total comprehensive income for the period	–232	395	1 231
Income for the period attributable to:
Equity holders of the Parent Company	199	171	803
Total	199	171	803
Total comprehensive income for the period attributable to:
Equity holders of the Parent Company	–232	395	1,231
Total	–232	395	1,231
For income attributable to the equity holders of the Parent Company:
Basic, SEK	0.69	0.60	2.79
Diluted, SEK	0.69	0.60	2.79
Average number of shares
Basic, million	287.4	287.4	287.4
Diluted, million	287.4	287.4	287.4

Consolidated balance sheet

SEKm	March 31, 2025	March 31, 2024	December 31, 2024
ASSETS
Non-current assets
Property, plant and equipment, owned	1,698	1,656	1,810
Property, plant and equipment, right-of-use	321	371	348
Goodwill	4,226	4,354	4,552
Other intangible assets	1,320	1,446	1,457
Deferred tax assets	372	487	404
Pension plan assets	110	2	116
Other non-current assets	94	39	104
Total non-current assets	8,142	8,355	8,791
Current assets
Inventories	1,962	1,954	1,899
Trade receivables	2,064	2,318	2,117
Tax assets	135	80	72
Other current assets	415	361	401
Cash and cash equivalents	764	877	794
Total current assets	5,340	5,591	5,285
Total assets	13,482	13,946	14,075

SEKm	March 31, 2025	March 31, 2024	December 31, 2024
EQUITY AND LIABILITIES
Equity attributable to equity holders of the Parent Company
Share capital	29	29	29
Other paid-in capital	5	5	5
Other reserves	279	604	713
Retained earnings	5,146	4,451	4,950
Equity attributable to equity holders of the Parent Company	5,459	5,088	5,697
Total equity	5,459	5,088	5,697
Non-current liabilities
Long-term borrowings	2,334	2,815	2,358
Long-term lease liabilities	205	251	227
Deferred tax liabilities	288	273	308
Provisions for post-employment benefits	134	148	145
Other provisions and liabilities	302	317	331
Total non-current liabilities	3,262	3,803	3,368
Current liabilities
Trade payables	2,114	2,154	2,172
Tax liabilities	296	418	279
Other liabilities	1,625	1,704	1,764
Short-term borrowings	479	522	535
Short-term lease liabilities	129	132	135
Other provisions	117	126	125
Total current liabilities	4,761	5,055	5,010
Total equity and liabilities	13,482	13,946	14,075

Change in consolidated equity

SEKm	Jan–Mar 2025	Jan–Mar 2024	Full-year 2024
Opening balance	5,697	4,705	4,705
Total comprehensive income for the period	–232	395	1,231
Share-based incentive program	–6	–12	6
Equity swap for share-based incentive program	–	–	–15
Dividend to shareholders of the Parent Company	–	–	–230
Total transactions with equity holders	–6	–12	–239
Closing balance	5,459	5,088	5,697

Consolidated cash flow statement

SEKm	Jan–Mar 2025	Jan–Mar 2024	Full-year 2024
Operations
Operating income	306	271	1,231
Depreciation and amortization	139	134	563
Other non-cash items	–2	–9	21
Financial items paid, net¹	–19	–11	–122
Taxes paid	–112	–43	–333
Cash flow from operations, excluding change in operating assets and liabilities	313	342	1,360
Change in operating assets and liabilities
Change in inventories	–177	–27	60
Change in trade receivables	–59	–149	0
Change in trade payables	49	131	133
Change in other operating assets, liabilities and provisions	–29	–138	–148
Cash flow from change in operating assets and liabilities	–216	–183	45
Cash flow from operations	97	160	1,405
Investment activities
Acquisition of operations	–	–903	–1,142
Capital expenditure in property, plant and equipment	–35	–23	–275
Capital expenditure in product development	–5	–2	–9
Capital expenditure in other intangibles	–9	–4	–31
Other	–3	–1	4
Cash flow from investment activities	–53	–932	–1,454
Cash flow from operations and investments activities	44	–773	–49

SEKm	Jan–Mar 2025	Jan–Mar 2024	Full-year 2024
Financing
Change in short-term borrowings, net²	–30	–292	–459
New long-term borrowings	–	2,500	2,900
Amortization of long-term borrowings	–	–1,487	–2,182
Payment of lease liabilities	–33	–31	–134
Dividend	–	–	–230
Equity swap for share-based incentive program	–	–	–15
Cash flow from financing	–63	689	–120
Total cash flow	–19	–83	–169
Cash and cash equivalents at beginning of period	794	959	959
Exchange-rate differences pertaining to cash and cash equivalents	–12	2	4
Cash and cash equivalents at end of period	764	877	794

1) For the period January 1 to March 31: interest and similar items received SEK 14.6m (25.7), interest and similar items paid SEK –31.8m (–31.7) and other financial items received/paid SEK 2.6m (–0.8). Interest paid for lease liabilities SEK –3.9m (–3.9).

2) No short-term loans with a duration of more than 3 months.

Quarterly data

SEKm	Q1 2025	Full year 2024	Q4 2024	Q3 2024	Q2 2024	Q1 2024
Food & Beverage
Net sales	1,859	7,585	1,913	1,778	2,041	1,852
EBITA	189	808	183	171	252	201
EBITA margin, %	10.2	10.6	9.6	9.6	12.3	10.9
Amortization	–44	–170	–46	–43	–41	–39
Operating income	145	637	137	128	211	162
Operating margin, %	7.8	8.4	7.2	7.2	10.3	8.7
Laundry
Net sales	1,214	4,998	1,416	1,152	1,227	1,203
EBITA	210	811	255	189	203	165
EBITA margin, %	17.3	16.2	18.0	16.4	16.5	13.7
Amortization	–14	–59	–14	–14	–16	–15
Operating income	196	752	241	175	187	150
Operating margin, %	16.2	15.0	17.0	15.2	15.2	12.4
Group common costs	–36	–159	–39	–35	–45	–40
Total Group
Net sales	3,073	12,583	3,329	2,931	3,268	3,055
EBITA	363	1,461	400	325	410	326
EBITA margin, %	11.8	11.6	12.0	11.1	12.5	10.7
Amortization	–58	–230	–60	–58	–57	–55
Operating income	306	1,231	339	268	353	271
Operating margin, %	9.9	9.8	10.2	9.1	10.8	8.9
Financial items, net	–21	–133	–31	–29	–40	–33
Income after financial items	285	1,097	308	239	313	237
Income for the period	199	803	215	187	230	171
Earnings per share, SEK¹	0.69	2.79	0.75	0.65	0.80	0.60

1) Basic number of outstanding shares.

Alternative performance measures key figures Exchange rates

SEKm, if not otherwise stated	Jan–Mar 2025	Jan–Mar 2024	Full-year 2024
Net sales	3,073	3,055	12,583
Organic growth, %*	–0.4	–4.3	–0.1
EBITA*	363	326	1,461
EBITA margin, %*	11.8	10.7	11.6
EBITA excl. items affecting comparability*, ¹	363	326	1,461
EBITA margin excl. items affecting comparability, %*, ¹	11.8	10.7	11.6
Operating income*	306	271	1,231
Operating margin, %*	9.9	8.9	9.8
Operating income excl. items affecting comparability*, ¹	306	271	1,231
Operating margin excl. items affecting comparability, %*, ¹	9.9	8.9	9.8
Income after financial items	285	237	1,097
Income for the period	199	171	803
Capital expenditure*	–49	–29	–316
Operating cash flow after investments*	175	183	1,548
Earnings per share, SEK²	0.69	0.60	2.79
Net debt*	2,321	2,976	2,481
EBITDA*, ³	1,834	1,582	1,794
Net debt/EBITDA ratio*	1.3	1.9	1.4
Operating working capital % of net sales*	16.1	17.7	16.4
Return on net assets, %*	15.5	16.2	15.1
End of period operating working capital, % of annualized net sales	16.2	17.0	13.8
Average number of shares, million²	287.4	287.4	287.4
Number of employees, end of period	4,359	4,329	4,317

Exchange rates

SEK	March 31, 2025			March 31, 2024	December 31, 2024
Exchange rate	Average	End of period	Average	End of period	Average	End of period
CNY	1.47	1.38	1.44	1.47	1.47	1.51
CZK	0.4479	0.4346	0.4498	0.4554	0.4547	0.4550
DKK	1.51	1.45	1.51	1.55	1.53	1.54
EUR	11.24	10.85	11.28	11.53	11.42	11.46
GBP	13.44	12.99	13.13	13.48	13.49	13.82
JPY	0.0700	0.0671	0.0702	0.0705	0.0699	0.0703
NOK	0.9643	0.9506	0.9852	0.9851	0.9833	0.9715
CHF	11.88	11.38	11.90	11.80	12.01	12.17
THB	0.3145	0.2956	0.2915	0.2924	0.3006	0.3212
TRY	0.2940	0.2644	0.3360	0.3298	0.3222	0.3119
USD	10.68	10.03	10.36	10.66	10.56	11.03

Shares

Number of shares	A-shares	B-shares	Shares total
Number of shares as of beginning of the year	8,029,337	279,368,113	287,397,450
Conversion of shares	–1,884	1,884	–
Number of shares as of end of period	8,027,453	279,369,997	287,397,450

*) Alternative performance measures used in this report are explained on pages 20–21.

1) For information on items affecting comparability, see page 19.

2) Basic numbers of outstanding shares.

3) Rolling four quarters.

Condensed Parent company income statement

Condensed Parent company balance sheet

SEKm	Jan–Mar 2025	Jan–Mar 2024	Full-year 2024
Net sales	785	748	3,346
Cost of goods sold	–568	–533	–2,275
Gross operating income	217	215	1,071
Selling expenses	–116	–110	–448
Administrative expenses	–68	–69	–240
Other operating income/expenses	3	1	2
Operating income	36	37	385
Financial income/expenses	–33	125	368
Impairment of shares in subsidiaries	–	–	–
Income after financial items	3	162	753
Appropriations	–	–	15
Income before taxes	3	162	768
Taxes	–3	–27	–123
Income for the period	0	135	645

SEKm	Jan–Mar 2025	Jan–Mar 2024	Full-year 2024
ASSETS
Non-current assets	9,505	9,481	9,750
Current assets	2,943	2,847	3,032
Total assets	12,448	12,328	12,782
EQUITY AND LIABILITIES
Restricted equity	43	36	38
Non–restricted equity	7,155	6,885	7,176
Total equity	7,198	6,921	7,214
Untaxed reserves	76	88	76
Provisions	119	119	123
Non–current liabilities	2,334	2,815	2,358
Current liabilities	2,721	2,385	3,011
Total equity and liabilities	12,448	12,328	12,782

Notes

Electrolux Professional Group applies International Financial Reporting Standards (IFRS) as adopted by the European Union. This report has been prepared in accordance with IAS 34, Interim Financial Reporting.

The Group's interim reports contain a condensed set of financial statements. For the Group this chiefly means that the disclosures are limited compared to the annual report. Enumerated amounts presented in tables and statements may not always agree with the calculated sum of the related line items due to rounding differences. The aim is for each line item to agree with its source and therefore there may be rounding differences affecting the total when adding up the presented line items.

The accounting principles adopted in the preparation of this interim report apply to all periods and comply with the accounting principles presented in the Group's Annual Report 2024.

For the Parent Company financial statements in general are presented in condensed versions and with limited disclosures compared to the annual report. The interim financial statements of Electrolux Professional AB have been prepared in accordance with the Swedish Annual Accounts Act chapter 9.

The most recent annual financial statements of Electrolux Professional AB have been prepared in compliance with the Swedish Annual Accounts Act (1995:1554) and recommendation RFR2, Accounting for legal entities of the Swedish Financial Reporting Board.

Reportable segments

Food & Beverage and Laundry represent the Group's reportable segments.

Note 1 ACCOUNTING PRINCIPLES Note 2 DISAGGREGATION OF REVENUE

Revenue from sales of products is recognized at a point in time, when control of the products has transferred. Revenue from services related to installation of products, repairs or maintenance service is recognized over the time the service is provided. Sales of these services are not material in relation to the Group's total net sales.

Geography is considered to be an important attribute when disaggregating the reportable segment's revenue. Therefore, the table below presents net sales per geographical region based on the location of the end customer.

	Jan–Mar 2025			Jan–Mar 2024
	Food &			Food &
SEKm	Beverage	Laundry	Total	Beverage	Laundry	Total
Geographical region
Europe	1,056	781	1,837	1,081	717	1,798
Asia Pacific, Middle East and Africa	226	312	538	230	345	574
Americas	577	121	698	541	141	682
Total	1,859	1,214	3,073	1,852	1,203	3,055

Note 3 FAIR VALUES AND CARRYING AMOUNTS OF FINANCIAL ASSETS AND LIABILITIES

The Group strives for arranging master-netting agreements (ISDA) with the counterparts for derivative transactions and has established such agreements with the majority of the counterparties, i.e., if a counterparty will default, assets and liabilities will be netted. Derivative assets and liabilities are presented gross in the balance sheet.

Fair value estimation

Valuation of financial instruments at fair value is done at quoted market prices. Level 1 instruments quoted on the market, e.g., the major bond and interest-rate future markets, are all marked-to market with the current price. The foreign-exchange spot rate is

used to convert the value into SEK. For level 2 instruments where no observable price is available on the market, cash flows are discounted using the deposit/swap curve of the cash flow currency. If no proper cash flow schedule is available, e.g., as in the case with forward-rate agreements, the underlying schedule is used for valuation purposes.

To the extent option instruments are used, the valuation is based on the Black & Scholes formula.

The carrying value less impairment provision of trade receivables and payables are assumed to approximate their fair values. The fair value of financial liabilities is estimated by discounting the future contractual cash flows at the current market interest rate. The Group's financial assets and liabilities are measured according to the following hierarchy:

• Level 1: Quoted prices in active markets for identical assets or liabilities.
• Level 2: Inputs other than quoted prices included in Level 1 that are observable for assets or liabilities either directly or indirectly.
• Level 3: Inputs for the assets or liabilities that are not entirely based on observable market data.

		March 31, 2025		March 31, 2024		December 31 ,2024
SEKm	Hierarchy level	Fair value	Carrying amount	Fair value	Carrying amount	Fair value	Carrying amount
Per category
Financial assets at fair value through profit and loss	3	5	5	14	14	14	14
Financial assets measured at amortized cost		2,828	2,828	3,196	3,196	2,912	2,912
Derivatives, financial assets at fair value through profit and loss	2	118	118	60	60	85	85
Total financial assets		2,950	2,950	3,269	3,269	3,010	3,010
Financial liabilities measured at amortized cost		4,956	4,927	5,277	5,490	5,149	5,065
Derivatives, financial liabilities at fair value through profit and loss	2	20	20	20	20	53	53
Total financial liabilities		4,976	4,947	5,297	5,510	5,202	5,118

Note 4 CONTINGENT LIABILITIES

SEKm	March 31, 2025	March 31, 2024	December 31, 2024
Group
Guarantees and other commitments	10	11	11

Note 5 ACQUIRED OPERATIONS

Acquisitions in 2025

No acquisitions during the first quarter.

Acquisitions in 2024

For acquisitions, see note 5 in the interim report for the first quarter and note 25 in the annual report.

Operations by segment yearly Five year overview

SEKm	2020	2021	2022	2023	2024
Food & Beverage
Net sales	4,198	4,704	7,290	7,616	7,585
EBITA*	87	299	679	766	808
EBITA, %*	2.1	6.4	9.3	10.1	10.6
Operating income*	35	244	542	620	637
Operating margin, %*	0.8	5.2	7.4	8.1	8.4
Laundry
Net sales	3,065	3,159	3,747	4,231	4,998
EBITA	467	492	608	702	811
EBITA, %	15.2	15.6	16.2	16.6	16.2
Operating income	452	475	590	686	752
Operating margin, %	14.7	15.0	15.7	16.2	15.0
Group shared cost
Operating income*	–100	–128	–177	–152	–159
Total Group
Net sales	7,263	7,862	11,037	11,848	12,583
EBITA	456	663	1,111	1,317	1,461
EBITA, %	6.3	8.4	10.1	11.1	11.6
Operating income	387	592	955	1,154	1,231
Operating margin, %	5.3	7.5	8.7	9.7	9.8

SEKm, if not otherwise stated	2020	2021	2022	2023	2024
Net sales	7,263	7,862	11,037	11,848	12,583
Organic growth, %	–21.0	10.6	16.9	2.6	–0.1
EBITA	456	663	1,111	1,317	1,461
EBITA, %	6.3	8.4	10.1	11.1	11.6
Operating income	387	592	955	1,154	1,231
Operating margin, %	5.3	7.5	8.7	9.7	9.8
Income after financial items	363	587	895	1,033	1,097
Income for the period	278	487	686	775	803
Items affecting comparability	–77	–	–35	–	–
Capital expenditure	–273	–159	–139	–191	–316
Operating cash flow after investments	570	1 116	636	1,453	1,548
Earnings per share, SEK¹	0.97	1.69	2.39	2.70	2.79
Dividend per share, SEK²	–	0.50	0.70	0.80	0.85
Net debt	549	1,705	2,050	1,390	2,481
EBITDA	684	886	1,369	1,581	1,794
Net debt/EBITDA ratio	0.8	1.9	1.5	0.9	1.4
Operating working capital % of net sales³	19.9	14.9	16.7	18.1	16.4
Average number of shares, million	287.4	287.4	287.4	287.4	287.4
Number of employees, end of period	3,515	3,973	4,022	3,978	4,317

*) Alternative performance measure.

1) Basic number of outstandig shares

2) For 2024 proposed by the Board of Directors

3) Last twelve months currency adjusted

Items affecting comparability yearly

SEKm	2020²	2021	2022¹	2023	2024
Food & Beverage	–55	–	–16	–	–
Laundry	–22	–	–19	–	–
Total Group	–77	–	–35	–	–

1) Costs related to divesting the operation in Russia, included in the line item other operating income and expenses.

2) Items affecting comparability relates to restructuring charges for efficiency measures.

Definitions and reconciliation of alternative performance measures

Electrolux Professional Group presents certain measures that are not defined under IFRS (alternative performance measures – "APMs"). These are used by management to assess the financial and operational performance of the Group. Management believes that these APMs provide useful information regarding the Group's

financial and operating performance. Such measures may not be comparable to similar measures presented by other companies. Consequently, APMs have limitations as analytical tools and should not be considered in isolation or as a substitute for related financial measures prepared in accordance with IFRS. The APMs have been

derived from the Group's internal reporting and are not audited. The APM reconciliations can be found on the Group's website www.electroluxprofessionalgroup.com/reports-and-presentations/

APM	Definition	Reason for use
Organic growth %	Change in sales growth excluding net FX impact and acquisitions.	The Group's presentation currency is SEK while net sales are mainly in other currencies. Organic growth is dependent on fluctuations in SEK versus other currencies, and acquired or divested businesses can have a further impact on reported net sales. Organic growth adjusted for acquisitions, divest ments and currency shows the underlying sales development without these parameters.
Acquisitions %	Change in net sales during the current period attributable to ac quired operations in relation to prior year sales, following a period of 12 months commencing on the acquisition date.	See "Organic growth" above.
Divestments %	Change in net sales during the current period attributable to divested operations in relation to the prior period's sales, following a period of 12 months commencing on the divestment date.	See "Organic growth" above.
Operating income (EBIT)	Earnings before interest and tax.	Used as an indicator that shows the Group's ability to make a profit, regardless of the method of financing (determines the optimal use of debt versus equity).
Operating margin (EBIT margin)	Operating income expressed as a percentage of net sales.	Operating margin shows the operating income as a percentage of net sales. Operating margin is a key internal measure as the Group believes it provides users of the financial statements with a better understanding of the Group's financial performance both short and long term.
Items affecting comparability	Material profit or loss items such as capital gains and losses from divestments of product groups or major units, close-downs or significant down-sizing of major units or activities, significant im pairment, and other major costs or income items.	Summarizes events and transactions with significant effects, which are rele vant for understanding the financial performance when comparing income for the current period with previous periods.
Operating margin excluding items affecting comparability	Operating income less items affecting comparability as a percent age of net sales.	Operating margin excluding items affecting comparability shows the oper ating income as a percentage of net sales adjusted for the items affecting comparability defined above. This is a key internal measure as the Group believes that it provides users of the financial statements with a better un derstanding of the Group's financial performance both short and long term.
Capital expenditure	Investments in property, plant and equipment, product develop ment, and other intangible assets.	Used to ensure that cash spending is in line with the Group's overall strategy for the use of cash.

APM	Definition	Reason for use
EBITA	Operating income less amortization and write-down related to intangible assets (excluding right-of-use assets).	EBITA gives an indication of the operating income less amortization and write-down related to intangible assets (excluding right-of-use assets), mainly used to follow up operating income without the impact of amortiza tion of surplus values related to acquisitions.
EBITA margin	EBITA expressed as a percentage of net sales.	Used to evaluate business performance in relation to net sales in order to measure the efficiency of the Group.
EBITA excluding items affecting comparability	Operating income less amortization and write-down related to intangible assets (excluding right-of-use assets) and less items affecting comparability.	Items affecting comparability vary between years and periods and are excluded from EBITA in order to analyze trends.
EBITA margin excluding items affecting comparability	EBITA excluding items affecting comparability, expressed as a percentage of net sales.	Items affecting comparability vary between years and periods and are excluded from EBITA margin in order to analyze trends.
EBITDA	EBITA less depreciation.	This is an indicator of the cash-generating capacity of the business in relation to sales.
Operating cash flow after investments	Cash flow from operations and investments adjusted for financial items paid net, taxes paid, and acquisitions/divestments of opera tions.	To monetarize the cash from core operations.
Net debt	Shows short-term borrowings (short-term loans and trade receiv ables with recourse), accrued interest expenses and prepaid interest income and long-term borrowings, lease liabilities, net provisions for post-employment benefits less liquid funds (cash and cash equiva lents, prepaid interest expenses, and accrued interest income).	Net debt describes the Group's total debt financing and is monitored by management.
Net debt/EBITDA	Net debt in relation to EBITDA (Net debt is based on the end-of period balance. EBITDA is calculated based on last four rolling quarters).	A measurement of financial risk, showing net debt in relation to cash generation.
Operating working capital, % of net sales	Sum of currency-adjusted last twelve months' average of inven tories, trade receivables, and trade payables (Operating working capital) as a percentage of the currency-adjusted last twelve months' average net sales. All months of the period are currency adjusted by applying the end-of-period average currency rate.	Used to evaluate how efficient the Group is in generating cash in relation to net sales.
Net assets	Total assets less liquid funds and pension assets minus non-interest bearing liabilities. (non-interest-bearing = total liabilities less equity, total borrowings, pension liabilities and lease liabilities)	Net assets describes the operating assets less operating liabilities used to run the business.
Return on net assets, %	Twelve months rolling operating income expressed as a percent age of average twelve months operating net assets.	Used to evaluate how efficiently the Group is generating profit from the net assets employed.
End of period operating working capital, % of annualized net sales	Sum of currency adjusted end of period trade receivables, trade payables and inventories (Operating working capital) as a per centage of the annualized currency adjusted last three months' average net sales. All months of the period are currency adjusted by applying the end of period average currency rate.	Snapshot of how end of period operating working capital is evolving compared with average historical trend.

Meeting targets needs beyond tomorrow

Financial

Net sales growth Organic annual growth of more than

4%

over time, complemented by value-accretive acquisitions.

Profitability EBITA margin of

15%

Asset efficiency Operating working capital below

15%

of net sales.

Capital structure Net debt/EBITDA ratio below

2.5x Higher levels may be temporarily

acceptable in the event of acquisitions, provided there is a clear path to de-leveraging.

Dividend policy

Electrolux Professional's target is for the dividend to correspond to approximately 30% of the income for the year. The timing, declaration, and number of future dividends will depend on the company's financial situation, earnings, capital requirements, and debt service obligations.

Our business

> Product development and innovation of smart products offering sustainable solutions.

> Production

World-class manufacturing focused on lower environmental impact and an excellent working environment.

> Marketing

focused on making our customers' work-life easier, more profitable and truly sustainable.

> Sales

mainly through dealers and distributors.

> Customer Care

and sales of chemicals, accessories, spare parts and consumables.

Our strategic targets

Our strategy for growth is based on the plans of our Business areas, and rests on four pillars, built on a foundation of operational excellence and sustainability in the supply chain. We want to do our part to improve society and generate value for our stakeholders. We believe that the Agenda 2030 and the UN's Sustainable Development Goals (SDGs) are good indicators of the priorities and challenges that the world is facing.

GROW

through innovation and sustainability.

in high-margin products, segments, and geographies.

EXPAND

Customer Care and service-as-a-solution.

BOOST

INVEST In digitalization to unlock

additional customer value.

These key strengths and competitive advantages drive our development and performance, and they all provide a strong foundation for us to execute our strategy.

Structurally growing end-markets

We operate in a market that structurally has been growing driven by GDP growth, higher income, and people spending more time eating out of the home.

Geographically balanced business

Approximately half of our sales are in Europe and the other half equally distributed between the Americas and APAC-MEA. This makes us less dependent on any single geography and its economic progress.

Track record of solid EBITA and cash flow

We have always – even during the pandemic and other major economic downturns – been a profitable company generating strong cash conversion and cash flow.

Focused plan to grow organically, supported by M&A

We have the products and the activities in place to grow organically. In addition, we have been able to complete an average of one acquisition per year to further grow the company.

Innovation focused

In order to drive growth and profitability, and also to provide products that increase customer productivity and efficiency, we invest more in R&D than the industry average.

Sustainability leader

We are the sustainability leader in our industry, according to external rankings such as CDP, Sustainalytics, and Ecovadis. All new products we launch have improved sustainability performance.

Shareholders information

President and CEO Alberto Zanata's

comments on the first quarter results 2025 Today's press release is available on the Electrolux Professional Group website www.electroluxprofessionalgroup.com

Telephone conference 10.00 CET

A telephone conference is held at 10.00 today, April 29. Alberto Zanata, President and CEO and Fabio Zarpellon, CFO will comment on the report.

Details for participation by telephone are as follows:

Participants in Sweden: +46 8 505 100 31 Participants in UK/Europe: +44 207 107 0613 Participants in US: +1 631 570 5613

Slide presentations for download:

www.electroluxprofessionalgroup.com

Link to webcast:

,

https://electrolux-professional-group.creo.se/853697de-3edc-4a31- 9bcb-cbc95ecf788b

For further information, please contact:

Jacob Broberg, Chief Communication & Investor Relations Officer, +46 70 190 00 33

Financial calendar 2025

Date

Annual General Meeting 2025	May 7, 2025
Proposed dividend record date	May 9, 2025
Proposed dividend payment	May 14, 2025
Interim report Q2, April – June 2025	July 22, 2025
Interim report Q3, July – September 2025	October 29, 2025
Year-end report Q4, October – December 2025	January 29, 2026

This information is information that Electrolux Professional 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 person detailed in the column above, at 07:30 a.m. CET on April 29, 2025.

FIRST PAGE CEO COMMENTS FINANCIAL OVERVIEW FINANCIAL REPORTS DEFINITIONS SHAREHOLDERS INFORMATION FINANCIAL REPORTS

About Electrolux Professional Group

The Electrolux Professional Group is one of the leading global providers of food service, beverage, and laundry for professional users. Our innovative products and worldwide service network make our customers' work-life easier, more profitable – and truly sustainable every day. Our solutions and products are manufactured in 14 plants in eight countries and sold in over 110 countries. We have approximately 4,300 employees. In 2024, the Electrolux Professional Group had global sales of SEK 12,5bn. Electrolux Professional's B-shares are listed at Nasdaq Stockholm.

For more information, visit https://www.electroluxprofessionalgroup.com

This report contains 'forward-looking' statements that reflect the company's current expectations. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations prove to have been correct as they are subject to risks and uncertainties that could cause actual results to differ materially due to a variety of factors. These factors include, but are not limited to, changes in consumer demand, changes in economic, market and competitive conditions, currency fluctuations, developments in product liability litigation, changes in the regulatory environment and other government actions.

Forward-looking statements speak only as of the date they were made, and, other than as required by applicable law, the company undertakes no obligation to update any of them in light of new information or future events.

Electrolux Professional AB (publ), 556003-0354 Postal and visiting address: Franzéngatan 6, SE-112 51 Stockholm, Sweden Telephone: +46 8 41056450

Electrolux Professional Group – INTERIM REPORT Q1 2025 Shareholders information P. 24 Website: www.electroluxprofessionalgroup.com