KebNi (KEBNI) investor relations material

Executive summary

• Q3 net sales were 28.720 MSEK, down 6% YoY, with EBITDA of 1.400 MSEK; net profit included a 4.000 MSEK ScaffSense disposal gain.

• Customer evaluation and integration projects increased, and component shortages were fully recovered by Q3.

• An oversubscribed SEK 55 million directed share issue and ScaffSense sale proceeds strengthened liquidity and financial flexibility.

Financial highlights

• Q3 net sales were 28.720 MSEK vs 30.422 MSEK YoY; 9M sales were 70.601 MSEK vs 99.061 MSEK, down 29%.

• Q3 EBITDA was 1.400 MSEK vs 3.479 MSEK; operating profit was 3.630 MSEK vs 1.127 MSEK, and net profit was 3.374 MSEK vs 0.938 MSEK.

• Q3 adjusted net loss was 0.626 MSEK, excluding the 4.000 MSEK disposal gain; 9M adjusted net loss was 13.382 MSEK, excluding the net 7.108 MSEK negative ScaffSense effect.

• 9M EBITDA was -5.372 MSEK vs 11.781 MSEK; operating loss was 19.705 MSEK and net loss was 20.490 MSEK.

• Q3 operating cash flow was -6.069 MSEK vs -10.543 MSEK; 9M operating cash flow was -20.863 MSEK vs -2.682 MSEK, mainly due to higher trade receivables.

Outlook and guidance

• Demand remains strong across Inertial Sensing and Satcom/Space; priorities include scaling capacity, advancing product development and expanding in key markets.

• Inertial Sensing capacity investment targets doubling current maximum capacity; the 22 MSEK Saab NLAW order is scheduled for delivery through 2027.

• Several Satcom customer opportunities are at advanced stages; order timing depends on customers finalizing end-customer contracts, and the opportunities were described as not lost.

• Tariffs and trade restrictions are not expected to materially affect operations in the near term.