Prevas AB

and CFO Helena Burson will present a report for the third quarter of 2025. After the presentation, there will be a Q&A. So if you have any questions, you can submit them to the form to the right. And if you're calling in, you can raise your hand by pressing star nine and then use star six to unmute yourself when given the word. And with that said, I hand over the word to you, Magnus.

Thank you very much. Hello everybody and welcome to the presentation of the Q3 results of Prevaz. My name is Magnus Wilén and I am the CEO of Prevaz. And with me today I have Helena Burström, CFO. Here we have a brief agenda of this meeting. We will start with its short introduction. We will review the financial performance of Prevaz for the third quarter. We will have a review of the market and then we'll finalize this session with a Q&A session. So, looking into the third quarter of 2025, three of us have performed a moderate growth for this quarter. We delivered a net sales of 355.2 million SEK compared to last year of 351.9. That week was a growth of around 1%. After this, acquisitions is 2% positive growth, and then we have reduced organic growth with minus 1%. So more or less in total, we are on 1% growth for the third quarter. Looking into the profit, I'm very glad actually to see that we now are increasing profits and EPS compared to last year. We are delivering an EBITDA of 30.0 million SEK compared to last year of 26.5. That equals a growth of 13% of EBITDA. And we're reaching an EBITDA margin of 8.4%, which is better than last year's 7.5%. And the main reason that we see this kind of increase is it is a result of all the actions we have taken in order to adapt Prevas to the present market situation. All the efforts we have made in terms of focusing on sales. So a lot of actions now is giving results also in the profit, which, of course, is very, very positive. The majority, the largest part of the increase is actually due to improved margins and profits in Finland. I will come back more in detail to that on the slide later on in the presentation. The operating cash flow for the month was 21.3 million SEK compared to last year, minus 6.7. That is also, of course, a positive part for the Q3 results. And most important, of course, is the EPS. And what we see is that the EPS, the earnings per share, increased 1.34 SEK compared to last year, 0.75 SEK. That is actually an increase of 79%. So all in all, if we accumulate the year Q1 to Q3, Pevas is performing 3.5% net sales growth with a 7.2% of EBITDA. And I'm very pleased to see that we now see that the actions and the hard work we are doing actually also shows in the figures. And then if we go more into the details, we can see that the EBIT for Q3 was 26.1 million compared to last year of 17.9. That is an improvement of 46%. And the reason that we see a big deviation in EBIT compared to EBITDA, a better improvement, is that last year, we had quite high costs related to the acquisition of Enmac. That is explaining the increase in EBITDA, that was stronger than the EBITDA result. We can also move forward then to see, if we zoom out a little bit, we can see that the net sales of Prevas over time is increasing. Prevas are growing. I looked into the figures and looking into 2020, the net sales for Prevas was 771 million SEK. And now, rolling 12, we are more than double the size. We are more than double the size we were in 2020. And we continue to grow. We have also grown in this quite challenging market climate that we have seen right now. And we have seen that for a period of time. Looking into the EBITDA and EBITDA margins, you can see in the other graph that we have had a quite tough time and we've been working very hard in Prevas in order to take the necessary action to adapt to the market, to the quite challenging market that we have seen. And you also see in Q2 that we also took some extraordinary costs related to restructuring in order to increase the efficiency of Prevas to the present situation. What we see in Q3 now, if you look into this graph, is that actually Q3 was better than Q3 of 2024 and more or less in line with 23. And I think this is a very positive signal. And as you can see that the EBITDA margin is also increasing. So with this, Helena, could you explain a little bit more about the financial position for Prevas?

Yes, absolutely, Magnus. And as mentioned previously, we have had an increase in operating activities with 28 million SEK compared to last year. And this is mainly driven by a stronger result. Working capital contributed positively, improving by approximately 19 million SEK. primarily due to decreased accounts receivable, lower personal related liabilities and higher accounts payable compared to the same period last year. In previous year, cash flow was negatively impacted as well by a calendar effect. Cash flow from investment activities decreased by 170 million SEK compared to the same quarter last year. This quarter, the acquisition of OEM impacted cash flow by 17 million SEK, while last year figures reflect the acquisition in Finland. Cash flow from financing activities decreased with 121 million SEK compared to last year, affecting cash flow negatively compared to a corresponding period last year. And last year alone related to the acquisition of Enmac in Finland was recognized. The overdraft facility of 100 million SEK were unused at quarter end compared to last year, 10 million SEK. And the cash at quarter end was 7 million SEK. Prevas remains well below the financial target, maximum two times EBITDA, and net debt in relation to EBITDA is 1.06 times. And equity ratio amounts to 50% in Q3 2025. In all, Prevas have a strong balance sheet and a solid financial situation. So back to you again, Magnus.