OEM International

Quarterly Report • Feb 19, 2025

Financial Statement

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Q4 2024 – The strongest quarter of the year and a new record year

Sales increased by 5% in the fourth quarter, making this the strongest quarter of the year in terms of both growth and earnings. Organic growth contributed 2.4%, acquisitions had a positive impact on growth of 1.5% and the currency made a positive contribution of 1%.

Incoming orders were also good, rising 10% compared with the corresponding quarter of the previous year. Incoming orders were 4% lower than sales, however, which means that the order backlog fell by SEK 48 million in the quarter. However, the order backlog remains at a high level due to the build-up of the order backlog that occurred after the pandemic.

Adjusted for items affecting comparability of SEK 11 million, operating profit (EBITA) rose 20%, which resulted in the EBITA margin strengthening to 16.0% (14.0). The increase comes from increased sales and an improved gross margin.

The full year 2024 was once again a record year in terms of incoming orders, which increased by 8%, and sales, which increased by 2%. Organic sales growth fell by 1% and acquisitions had a positive impact on sales of 3%. After adjusting for items affecting comparability, operating profit (EBITA) ended up at the same level as the previous year and the operating margin stood at 15.5% (15.8).

Growth across the regions

A positive quarter in which just over half of the operations recorded growth. There are still variations in demand between different geographies and industries. Sweden has generally good demand, along with China, Ireland and Denmark. We are experiencing weaker demand in the United Kingdom and Finland markets. The lighting segment stood out positively during the quarter, both in Sweden and in Finland.

Region Sweden's sales rose 4%, with organic growth contributing just over 3% while acquisitions had an impact of 0.5% and the currency had an impact of 1%. Incoming orders were strong, rising 11%. Telfa, ATC Tape and Elektro Elco reported good growth during the quarter.

Region Finland, the Baltic States and China, which has experienced weaker demand since autumn 2023, increased sales by 1%, however, mainly due to a favourable currency trend. However, the work aimed at generating new business is starting to have an effect, and incoming orders increased by 8% compared with the previous year and were on a par with sales. OEM Automatic China, along with Motor & Bearings and Hidealite, reported good growth during the quarter.

In Region Denmark, Norway, the British Isles and East Central Europe, sales increased by 8%, of which 6% came from organic growth and just over 1% from acquisitions. Currency effects also had a positive impact of 1 percentage point. The operations in Denmark and Ireland performed well, both during the quarter and for the full year.

Market situation

Significant variations in demand meant that 2024 was not as strong as in previous years, although it was a record year. Our planning work is based on the assumption that the market situation will remain tough, although creativity, curiosity and new initiatives mean that new customer segments and product investments should open to door to new business. Close collaboration with both customers and suppliers is creating the conditions for both organic growth and acquisitions. I am looking forward to 2025, when we will continue to create value for customers and suppliers with the ambition of setting new sales and profit records.

Jörgen Zahlin Managing Director and Chief Executive Officer Incoming orders

Net sales SEK MILLION

Incoming orders

Incoming orders amounted to SEK 1,307 million (1,191) in the fourth quarter of 2024, which is an increase of 10%. On a like-for-like basis, including the impact of currency movements, incoming orders rose 8% and acquired incoming orders were up 2%. In the fourth quarter, incoming orders were

4% lower than net sales.

For the full year 2024, incoming orders amounted to 5,166 million (4,805), which is an increase of 8%.

At SEK 853 million (859) on 31 December 2024, the order book was 1% lower than the same time in the previous year.

Sales growth

Net sales in the fourth quarter of 2024 increased by 5% to SEK 1,355 million (1,296). Organic growth increased by just over 2% during the quarter and acquisitions had a positive impact of 1%. The movement in exchange rates had a beneficial 1% effect on net sales. Revenue from acquisitions comes from Region Sweden and Region Denmark, Norway, the British Isles and East Central Europe.

For the full year 2024, sales amounted to SEK 5,239 million (5,145), which is an increase of 2%. Acquisitions have impacted sales by 3% and there has been an organic decline of 1%. The movement in exchange rates has not had any impact on the full year 2024.

Compared with the previous year, the largest net sales growth in percentage terms has been in OEM Automatic China, OEM Automatic Klitsø in Denmark and ATC Tape Converting and Elektro Elco in Sweden.

For the full year 2024, Region Sweden improved by 2 percentage points, accounting for 59% of Group turnover. Region Finland, the Baltic States and China fell 2 percentage points to 18% and Region Denmark, Norway, the British Isles and East Central Europe were unchanged at 23% of Group turnover.

EBITA margin

Note: The return on equity for each quarter is listed by four to provide a better comparison with the trailing twelve months in the diagram.

Growth in earnings

In the fourth quarter of 2024, EBITA, operating profit before amortisation and impairment of acquisition-related intangible fixed assets, rose 14% to SEK 206 million (181). Adjusted for items affecting comparability of SEK 11 million, EBITA rose 20% to SEK 217 million (181). The EBITA margin stood at 15.2% (14.0) in the fourth quarter, and adjusted for items affecting comparability, the EBITA margin was 16.0% (14.0).

For the full year 2024, EBITA decreased by 1% to SEK 800 million (811). The EBITA margin stood at 15.3% (15.8). Adjusted for items affecting comparability, EBITA amounted to SEK 811 million (811) and the operating margin was 15.5% (15.8).

Operating profit rose 13% to SEK 197 million (173) in the fourth quarter of 2024, delivering an operating margin of 14.5% (13.4). Full-year operating profit for 2024 decreased by 2% to SEK 763 million (782) to give an operating margin of 14.6% (15.2).

Profit after tax during the fourth quarter of 2024 increased by 21% to SEK 158 million (131). Profit after tax amounted to SEK 606 million (607) for the full year 2024.

Earnings per share for the fourth quarter amounted to SEK 1.14 (0.94) and for the full year 2024 to SEK 4.37 (4.38).

Return

The return on equity in the fourth quarter of 2024 was 6.4% compared with 6.5% in the corresponding quarter of the previous year.

For the full year of 2024, return on equity was 28%, compared with the target of 25%.

Shareholders' equity amounted to SEK 2,390 million (1,991) with an equity/assets ratio of 72% (68) on 31 December 2024.

Sales growth by region for each quarter

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.

	2024	2023	2024	2023
SEK million	Q4	(24	Full year	Full year
Incoming orders	803	721	3,040	2,771
Net sales	823	787	3,074	2,958
EBITA	151	122	522	518
EBITA margin	18%	16%	17%	18%

In 2024, net sales rose 4% compared to the previous year, amounting to SEK 3,074 million (2,958). The acquisitions of Lagermetall AB and Ingemar Liljenberg AB boosted sales growth by 4%. There has been a marginal organic decline in 2024 and a marginal impact from exchange rate fluctuations. The companies reporting strongest growth are ATC Tape Converting and Elektro Elco, whose sales rose 15% and 10% respectively. The largest company in the Group, OEM Automatic, saw sales increase by 4% in 2024.

In 2024, incoming orders rose 10% to SEK 3,040 million (2,771). Incoming orders were 1% lower than net sales.

EBITA increased by 1% in 2024 to SEK 522 million (518). The EBITA margin was lower in 2024, amounting to 17% (18), which was due to a lower gross margin.

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.

	2024	2023	2024	2023
	Q4	(14	Full	Hull
SEK million			year	year
Incoming orders	237	220	923	941
Net sales	241	239	955	1,020
EBITA	27	25	110 /	131
EBITA margin	11%	10%	11%	13%

Net sales in 2024 fell by 6% compared to the previous year, amounting to SEK 955 million (1,020). Net sales were impacted by an organic decline of 6%. Exchange rate fluctuations had no impact on net sales. The operations reporting strongest growth are OEM Automatic China and Akkupojat, whose sales increased by 19% and 9% respectively.

Incoming orders for the region decreased by 2% during 2024 compared to the previous year, amounting to SEK 923 million (941). Incoming orders were 3% lower than net sales.

EBITA decreased by 17% in 2024, to SEK 110 million (131), due to lower sales.

Denmark, Norway, the British Isles and East Central Europe

OEM Automatic Klitsø 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. and Demesne Electrical Sales UK Ltd.

SEK million	2024 Q4	2023 Q4	2024 Full year	2023 Full year
Incoming orders	267	251	1,203	1,0992
Net sales	290	269	1,210	1,167
EBITA	37	32	173	153
EBITA margin	13%	12%	14%	13%

Net sales rose 4% in 2024 compared to the previous year, to SEK 1,210 million (1,167). Net sales were positively impacted by organic growth of 2%, and the acquisition of Unit-Pump A/S had a positive impact of 2%. Currency movements had a marginal positive impact on sales in 2024. The operations reporting strongest year-on-year growth are OEM Automatic Klitsø in Denmark and Demesne Electrical Sales, with an increase of 18% and 9% respectively.

Incoming orders rose 10% to SEK 1,203 million (1,092) in 2024. Incoming orders were 1% lower than net sales.

EBITA rose 13% during 2024, to SEK 173 million (153).

Other financial information

Cash flow

Full-year operating cash flow for 2024 was SEK 692 million (791). The total cash flow was SEK 317 million (126). This was impacted by outflows of SEK -68 million (-149) and SEK -307 million (-515), related to investing and financing activities respectively.

Investments

In 2024, the Group's fixed asset investments, excluding acquisitions, totalled SEK 35 million (54), of which SEK 30 million (46) was invested in property, plant and equipment and SEK 5 million (9) in intangible assets.

Cash and cash equivalents

Cash and cash equivalents, comprising cash and bank balances, amounted to SEK 557 million (233) on 31 December 2024. Cash and cash equivalents, together with committed and undrawn credit facilities, amounted to SEK 1,132 million (783) on 31 December 2024. The Group's interest-bearing financial liabilities totalled SEK 140 million (147), of which SEK 94 million (76) are liabilities recognised in accordance with IFRS 16 Leases.

Intangible assets

Amortisation of intangible assets totalling SEK 40 million (32) has been charged to the income statement for 2024. On 31 December 2024, intangible assets amounted to SEK 369 million (395).

Equity/assets ratio

On 31 December 2024, the equity/assets ratio was 72% (68).

Employees

In 2024, the average number of employees in the Group was 1,054 (1,045). At the end of the period, the number of employees stood at 1,048 (1,054).

Share repurchase

OEM did not repurchase any shares during the period. At 31 December 2024, the company held a total of 371,082 treasury shares. The holding corresponds to 0.3% of the total number of shares. The repurchase mandate granted by the General Meeting is for up to 10% of the shares, which is 13,901,585 shares.

Option scheme

The total number of options in OEM's outstanding call option scheme is 408,000.

A total of 102,000 options have been subscribed for under the share-related incentive scheme, approved at the 2024 Annual General Meeting, which offers some 60 executives the option to purchase up to 200,000 bought-back shares. The call options have been transferred at a price of SEK 13.40 per option and the exercise price for the call options is SEK 135.10, corresponding to 120% of the average share price in the period 6 to 17 May 2024. Each call option entitles the holder to acquire one Class B share during the period 1 March to 15 June 2027.

In 2023, the call options were transferred at a price of SEK 12.77 per option and the exercise price for the call options was SEK 122.00, corresponding to 120% of the average share price in the period 8 to 19 May 2023. Each call option entitles the holder to acquire one Class B share during the period 2 March to 15 June 2026.

In 2022, the call options were transferred at a price of SEK 6.64 per option and the exercise price for the call options was SEK 86.60, corresponding to 120% of the average share price in the period 9 to 20 May 2022. Each call option entitles the holder to acquire one Class B share during the period 1 March to 15 June 2025.

Revaluation of contingent considerations

Developments in previously implemented acquisitions have resulted in a revaluation of contingent considerations recognised as a liability, which have decreased by SEK 5.2 million. This has been recognised in Other Operating Income and had a positive SEK 5.2 million effect on the operating profit in 2024. During 2024, an SEK 30 million (27) payment was made relating to an additional consideration, recognised as a liability, for the acquisition of Demesne Electrical Sales Ltd, SEK 2 million for the acquisition of Lagermetall AB and SEK 2 million for the acquisition of Unit-Pump AS. Remaining considerations (both fixed and contingent) recognised as liabilities related to acquisitions as at 31 December 2024 amounted to SEK 46 million (83).

Accounting policies

This consolidated interim report has been prepared in accordance with IAS 34 Interim Financial Reporting as well as applicable provisions of the Annual Accounts Act. The interim report for the Parent Company has been prepared in accordance with the requirements of Chapter 9 of the Swedish Annual Accounts Act, Interim Report. The Group and the Parent Company have applied the same accounting policies and basis of preparation as in the latest annual report. None of the IFRS or IFRIC interpretations that came into legal effect on 1 January 2024 have had any significant impact on the Group's financial statements or position.

There are no separate disclosures of the fair values of financial assets and liabilities stated at amortised cost because the carrying amounts of financial assets and financial liabilities are considered to be reasonable approximations of their fair values. This is because, in the opinion of management, there have been no significant changes in market interest rates or credit spreads that would have a material impact on the fair value of the Group's interest-bearing liabilities. Furthermore, the fair value of trade and other current receivables and payables is assumed to approximate their carrying amount given their short-term nature.

Risks and uncertainties

The OEM Group is exposed to both business-related risks through its activities. Business-related risks include competition and operational risks, and financial risks include liquidity risk, interest rate risk and currency risk. The financial operations of the OEM Group and management of financial risks are mainly handled by the Parent Company. A full description of risks to which the Group is exposed can be found on pages 33-35 and 79-82 of the 2023 Annual Report. Other than the risks and uncertainties set out in the 2023 Annual Report, no significant risks or uncertainties have been identified or removed.

Related party transactions

No transactions between OEM and related parties have been entered into during the period that have materially affected the financial position and performance of the Group or the Parent Company, with the exception of inter-company dividends and dividends to Parent Company shareholders.

Parent Company

Net sales for the Parent Company during 2024 totalled SEK 104 million (95) and profit after financial items was SEK 255 million (194). Net sales relate entirely to inter-company transactions. The foregoing risks and uncertainties specified for the Group also apply indirectly to the Parent Company.

Public offer to shareholders

On November 5th, EQT announced a public offer to the shareholders of OEM International AB at SEK 110.0 per share. The company's A-shareholders have, provided the offer is declared unconditional, committed to selling 25.7% of the shares and 72.5% of the voting rights to EQT. The board, through its independent bid committee, has stated that they do not recommend shareholders accept the offer. The offer was declared unconditional on February 7th. The bid process has resulted in costs of SEK 11.3 million for legal and consultancy fees.

Events after the close of the reporting period

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

Dividends

The Board proposes a dividend of SEK 1.75 per share (1.75). The proposed dividend amounts to SEK 243 million (243).

Annual Report

The 2024 Annual Report will be available on 21 March 2025 at Head Office and on the company's website, where it can be downloaded as a pdf file. A copy can be ordered from the company by e-mail: ir@oem.se or by calling +46 (0)75-242 45 57.

Financial information

OEM will release financial information as follows:

Annual General Meeting 2025	24 April 2025
Interim report, first quarter 2025	24 April 2025
Interim report, second quarter 2025	14 July 2025
Interim report, third quarter 2025	16 October 2025
Financial statement, Full Year 2025	18 February 2026

Definitions

Definitions can be found on page 15.

Tranås, Sweden, 19 February 2025

Jörgen Zahlin Managing Director and Chief Executive Officer

This report has not been subject to special auditing procedures by the company's auditors.

For further information, please contact the Managing Director, Jörgen Zahlin, on +46 (0)75-242 40 22, or via email at jorgen.zahlin@oem.se, or the CFO, Rikard Tingvall, on +46 (0)75-242 40 15, rikard.tingvall@oem.se.

This information is of such a nature that OEM International AB (publish it in compliance with the Market Abuse Regulation (MAR) EU Directive No. 596/2014. The information was provided for publication on 19 February 2025 at 14.00 CET by Rikard Tingvall.

The regions' sales and earnings

sales & earnings by region

Net sales (SEK million)

	Jan- dec	Jan-
		dec	04	03	Q2	Q1	04
	2024	2023	2024	2024	2024	2024	2023
Sweden, external income	3 074	2 958	823	686	782	783	787
Sweden, income from other segments	271	276	72	69	62	69	73
Finland, the Baltic States and China, external income	955	1020	241	237	237	240	239
Finland, the Baltic States and China, income from other segme	83	85	22	19	19	23	20
Denmark, Norway, the British Isles and
East Central Europe, external income	1 210	1 167	290	299	312	308	269
Denmark, Norway, the British Isles and
East Central Europe, income from other segments	25	24	6	8	5	6	6
Elimination	-380	-385	-100	-96	-87	-98	-gg
	5 239	5 145	1 355	1222	1 331	1 331	1296

EBITA (SEK million)

	Jan-	Jan-
	dec	dec	Q4	03	Q2	Q1	Q4
	2024	2023	2024	2024	2024	2024	2023
Sweden	522	518	151	119	121	130	122
Finland, the Baltic States and China	110	131	27	ਤ ਤੇ	21	30	25
Denmark, Norway,the British Isles and
East Central Europe	173	153	37	47	44	45	32
Group functions	-4	8	-9	റ	-1	O	2
EBITA	800	811	206	204	185	205	181

Operating profit (SEK million)

	Jan-	Jan-
	dec 2024	dec	Q4	03	Q2	Q1	Q4
		2023	2024	2024	2024	2024	2023
EBITA	800	811	206	204	185	205	181
Amortisation and write-downs of acquisition-related
intangible fixed assets.
Sweden	-7	-3	-2	-2	-2	-2	-1
Finland, the Baltic States and China,	-	O
Denmark, Norway, the British Isles and
East Central Europe	-30	-27	-8	-8	-8	-7	-7
Operating profit	763	782	197	195	175	196	173

Consolidated profit/loss (SEK million)

	Jan-	Jan-
	dec	dec	Q4	03	Q2	Q1	Q4
	2024	2023	2024	2024	2024	2024	2023
Operating profit	763	782	197	195	175	196	173
Net financial items	ഗ	-12	7	-4	o	2	-3
Pre-tax profit/(loss)	768	770	204	191 - -	175	198 198 - 198	170

Specification of external income by region and product area	Sweden		Denmark, Norway, the Finland, the Baltic States British Isles and East Central and China, Europe				Total
	Jan-	Jan-	Jan-	Jan-	Jan-	Jan-	Jan-	Jan-
	dec	dec	dec	dec	dec	dec	dec	dec
	2024	2023	2024	2023	2024	2023	2024	2023
Product Areas
Automation	1234	1129	557	621	850	834	2 640	2 584
Components	341	443	116	125	16	23	473	591
Lighting & Installation components	592	551	66	66	339	307	997	923
Other	907	835	217	208	5	3	1129	1 046
	3 074	2 958	955	1 020	1 210	1167	5 239	5 145

The Group's performance and financial position

Condensed Consolidated Statement of Income (sek million)

	Jan-	Jan-
	dec	dec	Q4	Q3	Q2	Q1	Q4
	2024	2023	2024	2024	2024	2024	2023
Operating income
Net sales	5 239	5 145	1 355	1222	1 331	1 331	1 296
Other operating income	5	O	0	5	1	O	O
Operating costs*
Commodities	-3 357	-3 300	-858	-789	-861	-850	-840
Staff costs	-784	-754	-202	-169	-210	-203	-195
Other expenses	-233	-216	-72	-45	-59	-57	-62
Depreciatione/amorisation of property, plant and
equipemnt and intangible fixed assets	-107	-93	-27	-28	-26	-26	-25
Operating profit	763	782	197	195	175	196	173
Net financial income/expense	5	-12	7	-4	O	2	-3
Pre-tax profit/(loss)	768	770	204	191	175	198	170
Tax	-162	-163	-46	-40	-36	-41	-40
Profit/loss for the period	606	607	158	152	139	157	131
Earnings per outstanding share, SEK**	4,37	4,38	1,14	1,09	1,01	1,13	0,94

* 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	606	607	158	152	139	157	131
Items that have been transferred or may
recycled to net income
Exchange differences for the period on
translation of overseas operations	35	O	18	-8	-12	37	-31
ltems that can not be recycled to
net profit
Revaluation of defined-
benefit pension plans	-1	O	0	-1	0	O	O
Other comprehensive income for the period	34	O	-20	28	-12	37	-31
Comprehensive income for the period	640	608	-18	336	128	194	100

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION (SEK MILLION)

	2024-12-31	2023-12-31
Fixed assets
Goodwill	260	255
Other intangible assets	108	140
Total intangible assets	369	395
Property, plant and equipment	435	408
Total property, plant and equipment	435	408
Deferred tax assets	4	9
Financial assets	2	2
Total financial assets	6	11
Total fixed assets	809	814
Current assets
Inventories	1 101	1 085
Current receivables	866	800
Cash and cash equivalents	557	233
Total current assets	2 523	2 118
Total assets	3 333	2 932
Equity	2 390	1 991
Non-current interest-bearing liabilities	61	51
Provisions for pensions	0	2
Other provisions	2	2
Non-current non-interest-bearing liabilities	7	44
Deferred tax liabilities	172	162
Total non-current liabilities	241	261
Current interest-bearing liabilities	79	96
Current non-interest-bearing liabilities	622	583
Total current liabilities	701	680
Total equity and liabilities	3 333	2 932

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (SEK MILLION)

	2024-12-31	2023-12-31
At beginning of year	1 991	1 590
Comprehensive income for the period
Profit/loss for the period	606	607
Other comprehensive income for the period	34	0
Comprehensive income for the period	640	608
Dividends paid	-243	-208
Repurchase of shares		-
Issued call options	1	2
At the end of the period	2 390	1 991

OEM INTERNATIONAL AB (publ) CRN 556184-6691, Box 1009, 573 28 Tranås, Sweden. Tel. +46 75-242 40 00

CONDENSED CONSOLIDATED CASH FLOW STATEMENT (SEK MILLION)

	Jan-	Jan-
	dec	dec	Q4	Q3	Q2	Q1	Q4
	2024	2023	2024	2024	2024	2024	2023
Operating cash flows
before movements in working capital	722	726	194	194	157	177	155
Movements in working capital	-31	65	-17	-86	46	25	137
Operating cash flows	692	791	177	108	204	203	293
Acquisition of subsidiaries
net effet on cash and cash equivalents	-34	-95	-2	O	-3	-30	-67
Acquisition of intangible fixed assets	-5	-9	-1	-1	-3	-1	-5
Acquisition of property, plant and equipment	-30	-46	-12	-9	-7	-2	-13
Sales of property, plant and equipment	1	0	0	0	0	0	O
Investing cash flows	-68	-149	-14	-9	-12	-32	-85
Financing cash flows
- Repayment of lease liabilities	-42	-41	-11	-11	-10	-10	-13
- Change in bank overdrafts	-22	-269	-8	11	-5	-20	-70
- Call options	0	2			O
- Dividends paid	-243	-208			-243
Financing cash flow	-307	-515	-19	-1	-257	-29	-83
Cash flow for the period	317	126	144	98	-66	141	125
Cash and cash equivalents at the beginning of the period	233	109	413	311	379	233	112
Exchange rate difference	7	-3	0	3	-2	6	-5
Cash and cash equivalents at the end of the period	557	233	557	413	311	379	233

KEY PERFORMANCE INDICATORS

	Jan-	Jan-
	dec	dec	Q4	Q3	Q2	Q1	Q4
	2024	2023	2024	2024	2024	2024	2023
Net sales growth, %	1,8	8,7	4,6	2,0	2,7	-1,7	2,5
Operating margin, %	14,6	15,2	14,5	16,0	13,2	14,7	13,4
EBITA-margin, %	15,3	15,8	15,2	16,7	13,9	15,4	14,0
Return on equity, %	27,7	33,9	6,4	6,7	7,1	7,5	6,5
Return on capital employed, %	35,3	40,2	8,6	8,3	8,9	9,5	8,
Return on total capital %	25,9	28,5	6,5	6,2	6,4	6,8	5,9
Debt/equity ratio, times	0,06	0,07
Equity/assets ratio, %	71,7	67,9
Earnings per outstanding share, SEK*	4,37	4,38	1,14	1,09	1,01	1,13	0,94
Earnings per total shares, SEK*	4,36	4,36	1,14	1,09	1,00	1,13	0,93
Equity per total shares, SEK	17,19	14,32
Average number of outstanding shares (thousands)	138 644	138 644	138 644	138 644	138 644	138 644	138 644
Average total shares (thousands)	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.

The Parent Company's performance and financial position

Condensed Income STATEMENT OF THE PARENT COMPANY (SEK MILLION)

	Jan-	Jan-
	dec	dec	Q4	03	Q2	Q1	Q4
	2024	2023	2024	2024	2024	2024	2023
Net sales	104	ರಿ ನ	28	24	29	23	24
Other operating income
Operating costs	-101	-78	-34	-18	-29	-20	-20
Depreciation	-4	-4	-1	-1	-1	-1	-1
Operating profit	-1	13	-7	5	-1	2	ח
Income from investments
in Group companies	243	172	95	119	8	22	4
Other financial income/expense, Net	13	9	7	4	2	0	3
Profit/loss after financial items	255	194	95	128	9	23	10
Year-end appropriations	382	378	382	O	O	O	378
Pre-tax profit/(loss)	637	573	477	128	9	23	388
Tax	-85	-85	-85	O	O	O	-85
Profit/loss for the period	552	487	392	128	ு	23	303

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

Condensed Balance Sheet of The Parent Company (SEK Million)

Assets	2024-12-31	2023-12-31
Intangible fixed assets	14	11
Property, plant and equipment	18	18
Financial assets	736	741
Total fixed assets	768	770
Current receivables	830	846
Cash on hand and demand deposits	456	85
Total current assets	1 287	931
Total assets	2 054	1 701
Equity and liabilities
Equity
Non-distributable equity	71	71
Distributable equity	1141	830
Total shareholders' equity	1 212	901
Untaxed reserves	611	542
Deferred tax liabilities	2	2
Non-current interest-bearing liabilities	O	-
Non-current non-interest-bearing liabilities	7	44
Total non-current liabilities	7	44
Current interest-bearing liabilities	O	O
Current non-interest-bearing liabilities	222	213
Total current liabilities	222	213
Total equity and liabilities	2 054	1 701

Notes

Segment reporting is presented on pages 5, 6 and 10. Disclosures about fair value of financial instruments and accounting policies are presented on pages 7, 8 and 9.

Definitions

In addition to the conventional financial performance measures established by IFRS, OEM uses the terms Organic growth and EBITA/EBITA margin, the definitions of which are given below. The reason is that OEM wants to provide clearer comparability of sales performance between periods, without the effects of currency movements or acquisitions, and be able to summarise the companies' operations with regard to profit and margins, excluding amortisation and depreciation that arose on acquisition.

Organic growth

The change in total revenue in the period, adjusted for acquisitions, sales and currency movements, measured against the total revenue in the comparative period.

Debt/equity ratio Interest-bearing liabilities divided by shareholders' equity

EBITA

Operating profit before amortisation and impairment of acquisition-related intangible fixed assets A reconciliation of the calculation of EBITA is presented on page 11.

EBITA margin EBITA divided by net sales

Return on capital employed EBITA plus finance income as a percentage of average capital employed

Capital employed Total assets reduced by non-interest bearing liabilities and provisions

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

Return on equity Profit for the year divided by average shareholders' equity

Items affecting comparability

ltems that are not included in the regular business transactions and that are of a significant size and therefore have an impact on earnings and key performance indicators

One of Europe's leading technology trading companies with 34 operating business units in 15 countries

For 50 years, OEM's idea has been to serve as a link that creates value between customers and manufacturers of industrial components and systems. Over the years, the company has grown from a small, family-owned business in Tranås in southern Sweden into an international technology trading group operating in 15 countries in northern Europe, East Central Europe, the British Isles and China.

OEM has partnerships with more than 400 leading and specialist manufacturers and is responsible for their sales in selected markets. Its range comprises more than 60,000 products in the areas of electrical components, machinery components & cables, pressure & flow components, motors, ball bearings & brakes, appliance components and installation components. The Group has a customer base of more than 30,000 businesses, primarily in the manufacturing sector. The company's high level of expertise enables it to help customers increase purchasing