Pricer AB (publ)

Thank you.

Good afternoon and welcome to the Pricer fourth quarter 2025 investor presentation here at DNB Carnegie. My name is Hjalmar Jernström and I'm joined today by CEO Magnus Larsson and CFO Claes Wensseld. Welcome, guys. Thank you very much. And during the presentation, questions can be submitted live and we will address these during the Q&A session. With that said, I hand over the word to you.

Thank you very much. Hello, everyone. Really happy to be here. My name is Minus. I'm the CEO of Pricer. And with me today, as mentioned by Hjalmar, is Claes. So let me jump straight into the presentation. For those of you who haven't been paying too much attention to Pricer before, but felt tempted to join the call, this is the very quick Pricer in a brief slide. So our vision is to be the preferred partner for in-store communication and digitalization. This is something that of course is spot on for what the physical retailers with physical stores are aiming to do now. We aim to do it the best and be their preferred partner. I will come back to a few customers that actually have selected us as their preferred partner later in the presentation. In essence, we have sold or delivered close to 400 million of our labels. We've done way more than 28,000 stores, and today we have more than 6,000 stores on our SaaS service plaza. We have close to 50 million ESLs connected, which of course gives a lot of opportunity to future sales. Looking at Q4, the first thing I would like to highlight is that we've seen a positive trend during the second half versus the first half. When I compare now Q3 and Q4 together, we have a net sales that have actually increased 20% compared to the first half, which has been, of course, very, very positive. We have seen a good order intake momentum in Q4. It's actually the highest in the year. We have been awarded with five new customer contracts in the Q4, in the US, in Netherlands and in Norway. But also more importantly, what we can see is that there is a clear and tangible increase in the customer engagement basically across many markets, but it's from RFQ processes, so basically they come to us to actually buy stuff, to proactively discussing digitalization and the way forward. Very, very positive development. Looking at our financials, you will see that we have had a major decrease in our inventories. As you might remember, and I know Klaus will speak more about it, we had an excess inventory when we came into 2025. That we have now dealt with and it's been sold, so it's been contributing to our strong positive cash flow. But it's of course also affected our, it's not of course, but it has affected our gross margin due to the sale of this excess inventory. All in all, we have a year of full-year profitability. We have a good EBIT. We have an EBIT margin of 2.9% on the adjusted side, and we have a net profit for the full year. Why does our customers buy from Pricer? There are quite a few trends that affect the behavior from shoppers, the behavior of our customers, the retailers. And I will show you five examples now on the two coming slides. You can see that one key driver has been the drive for strategic digitalization in the physical store. Now with AI being a very large thing, it also spills over to quite a few of the physical retailers. They see all the benefits they can do utilizing AI tools, but in order to do that, they really need to make the store physical or digital. So it's not only the fact that they want to address the operational cost, which is still a key driver, you But it also, what kind of gadgets, sensors, ESLs do I need in my store to actually be able to operate in a different way and be more efficient using also the AI tools? So we can see this is a quite new trend, but we can see that especially, I think, on the US market, this has been a driver for some of the recent customer dialogues that we see. It's from the hyper and supermarkets, but also down to convenience stores where they want to see how can we be more effective. So what am I talking about? What are the key customer wins? The first one I'd like to speak about is the deal we got with IBM Federal and with DECA, the defense commission. Commissary Agency. So that's actually the U.S. Department of Defense. It's their stores that they have for the armed forces. So in the U.S. and outside continental U.S., they have in all the army bases, they have the commissary stores where they sell grocery to the serving staff and everyone working at the army base. So this is a really big thing in the US. We've been vetted as a supplier by the US Department of Defense or Department of War, as they also are referred to. It's hard to pass that threshold. So we're extremely proud of this win. We have a planned deployment of ESLs in 57 other stores outside continental US. And we have a potential of modernizing all their stores in, it's actually 178 ones in the U.S. market. We did receive the first order in December and we're continuously planning together with IBM Federal on the rollout of these stores. But also in the U.S. market, having DECA as a reference and also the fact that we've been vetted by Department of Defense is a big thing. The second one is also an American customer, Merchants Distributors, or we call them MDI. It's a wholesale grocery store distributor. They actually sell everything from groceries wholesale, but they also do technology. They help their members to buy whatever they need to their stores. So we have an exclusive agreement with them now. We're the only potential supplier. They have 600 members, but across those members, they have 3,000 different locations or stores in 17 states. They are really active. They want to make this happen. They see it a clear benefit for their members. So it will be Price of Plaza. It will be four-collar ESLs. First orders received now in December. And above all, it's a brand new price of customer. And of course, we hope to see them grow together with us during 26 and into the future. If I look at Europe, we... decided to go for a direct sales model on the Nordic and Baltic market. We announced Norgesgruppen, we announced Coop Norway in October and November. If you look at Norgesgruppen, they have roughly 1,800 grocery stores. They're number one on the Norwegian market. We are a current supplier of in-store communication and digitalization, but it's a new direct customer, so we're really happy for this engagement. We had the co-op management team over Last week, we spent two days discussing what is the future, what are the roadmaps, what are the key things we're going to look at into the future. They have both do-it-yourself stores and they have grocery stores and they have more than 1,000 stores. So also here, a new direct customer. So here we have an existing customer plus that we won back in 2000. They've been using their system a lot and felt that it's working so good that they wanted to really upgrade it to have the most recent version of what we do. So they will buy our four color labels. We'll start with 100 stores this year and we do another 165 stores in 2027. So we're basically modernizing the entire setup. But also part of this deal is the buyback of the existing labels. There will be a TED talk on this and the positive effects when we are at the Euroshop event in a few weeks' time. But in essence, we're going to take their labels back, we will refurbish them and we will resell them to give them a second life. So from a sustainability point of view, very good business, but also from our point of view, also very good business. And before handing over to Claes, I would like to speak a little bit about Pricer Avenue and Pricer Avenue at the NRF show in New York. So now, second week in January, we had the NRF show in New York. It's a massive retail event, a retail tech event, where everyone that's someone on the tech market are participating. So we now did the commercial launch of price revenue is now commercially available. We do expect the first stores to be deployed now during Q2. It's I call it here a low volume. deploy so we have a limited number of labels and once again it will be quite exclusive so we will agree which stores will be allowed to get it they will focus on using it for the high impact zone so basically where they have high volume products or where they have high churn products, but areas where they see that they really want to do whatever they can on the merchandise and the promotion side. So we'll be very exciting. We'll be very exciting with also the necessary discussions that we're going to have with the suppliers that want to use this for promotion. We had a number of pilots. They were pilots also for us to get both feedback in terms of how well does it work in the store? Do we need to make any changes to it? But also, of course, to get the customer feedback. And here we got a lot. So it's been embedded now in the commercial product and future releases of the commercial product. One additional thing that we launched is a new model, brand new model to Pricer Plaza called Designer. It's a tool made to actually design this extended label, but it's now also, it will be available for all our ESLs. In fact, with the Designer tool, you can do pretty much what you want. We will treat any screen as a canvas, so it could be to paper, it could be paper tag, it could be billboards, it could be televisions, it could obviously be Avenue, and also ESLs. And we had some people passing by our booth from a company that typically works with paper and paper publishing. They were delighted to see the tool and said, this is something that we should have. And since everyone is moving more into the publishing direction, I think it's extremely positive. And you can also see on the picture here what Pricer Avenue looks like in real life when it's actually working. So this was maybe not talk of the town in New York, but it was definitely the talk of the NRF. We also had a TED talk together with the technology officer Rob Smith of Coop of East England, where we spoke about in-store shopper engagement and how we can actually increase that impact with the help of Avenue. But I guess enough of bragging and promotion and over to the hardcore figures. So, Claes.