Ependion (EPEN) investor relations material

Executive summary

• Record order intake up 41% year-over-year to SEK 778 million, with broad-based growth across all segments and geographies.

• Sales increased 10% year-over-year to SEK 597.3 million, with organic sales flat; growth driven by acquisitions and FX.

• EBITA rose to SEK 74.8 million, margin improved to 12.5% from 9.7% last year.

• Net profit increased 27% year-over-year to SEK 40.5 million; EPS up 15% to SEK 1.26.

• Free cash flow remained negative at -9.0 MSEK, impacted by higher inventories and receivables.

Financial highlights

• Book-to-bill ratio at 1.3, indicating strong demand.

• EBITDA/EBITA margin improved to 12.5% from 9.7% last year.

• Negative FX impact of SEK 6.5 million on EBITDA/EBITA.

• Equity ratio improved to 50.5% (48.5%).

• Net debt/EBITDA at 1.2–1.4x, supporting continued M&A activity.

Outlook and guidance

• Medium-term targets: organic growth of at least 10% and EBITDA/EBITA margin of at least 15%.

• Cautiously optimistic for 2026, with strong order backlog and investments in critical infrastructure.

• Geopolitical and economic uncertainty expected to persist.