Elekta (EKTA) investor relations material

Executive summary

• Transformation program advanced through reset, stabilization, and profitability phases, with innovation-driven growth as the next focus.

• Operating model simplified, reducing organizational layers and decentralizing P&L responsibility to regions, resulting in annual cost savings exceeding SEK 500M and a workforce reduction of over 500 employees.

• Profitability improved significantly in Q4 and for the full year, with the highest operating cash flow in five years and net debt reduced.

• Quality of earnings prioritized, including stricter order acceptance and balance sheet review.

• Significant non-cash impairments and restructuring charges impacted reported earnings, resulting in a net loss for both Q4 and the full year.

Financial highlights

• Full-year book-to-bill ratio at 1.04, Q4 at 0.96, reflecting stricter order criteria and Middle East delays.

• Adjusted net sales up 1% year-over-year in constant currency, driven by EMEA and new product launches; Q4 net sales down 1% in constant currency.

• Adjusted EBIT margin for the year at 12.3% (up from 11.6%), with Q4 adjusted EBIT margin at 18.9% (up from 16.3%).

• Adjusted EBITDA margin improved to 11.2% (from 8.6%).

• Cash flow after continuous investments reached SEK 1,392M for the year and SEK 1,141M in Q4, the highest in five years.

• Dividend proposal of SEK 2.4 per share, unchanged from prior years, totaling SEK 917M.

Outlook and guidance

• Net sales in constant currency expected to increase year-over-year in FY 2026/27, with further EBIT margin improvement anticipated.

• More granular midterm financial targets to be presented at Capital Markets Day on June 17, 2026.

• Innovation-driven growth and continued investment in R&D remain strategic priorities.