Asker Healthcare (ASKER) investor relations material

Executive summary

• Q2 net sales rose 9% to SEK 3,987m, with 12% adjusted EBITDA/EBITA growth and margin at 9.5%, progressing toward the 10% midterm target.

• Organic growth contributed 7% and acquisitions 8–10% to EBITDA/EBITA; strong pipeline with 4–6 acquisitions in Q2 and five in H1.

• West and Central regions delivered strong organic and acquired growth, offsetting North's decline from lower project-based defense sales.

• Net debt/EBITDA at 1.8x, reflecting a strong balance sheet and capacity for further acquisitions.

• Operating cash flow declined due to high prior-year comparables and increased investments.

Financial highlights

• Q2 2025 net sales up 9% to SEK 3,987m; H1 net sales up 12% to SEK 7,982m.

• Adjusted EBITDA/EBITA up 12% in Q2; H1 adjusted EBITDA/EBITA up 14%.

• Adjusted EBITDA/EBITA margin at 9.5% in Q2, with gross margin near 41%.

• Earnings per share in Q2 at SEK 0.34 (up 35%), H1 at SEK 0.54 (up 46%).

• Return on net working capital (EBITA/NWC) at 65%, exceeding the 50% target.

Outlook and guidance

• Management expects to outperform the market's 3–4% average growth rate over time.

• Acquisition pipeline remains robust, with further expansion anticipated.

• Margins expected to trend toward the 10% midterm target; gross margins at or above 40% considered healthy.

• European preparedness initiatives expected to become more significant.