Inission (INISS) ABGSC Investor Days summary

Company overview and structure

• Operates as both an EMS contract manufacturer and an OEM through Enedo, organized into business areas with a strong value-driven culture.

• Comprises nine factories and six companies, with a focus on proximity to customers, mainly in the Nordics.

• Acquisitions are central to growth, averaging about one per year, with the latest being AXXE in Norway.

• Enedo, a Finnish-Italian product company, is being integrated, with its Tunis factory transitioning to EMS operations by early Q2 next year.

Market position and customer base

• Specializes in high-mix, low-volume industrial electronics, serving complex product needs in smaller batches.

• Customer base is diversified, with no overreliance on a single client; largest account is ABB at about 10% of EMS sales.

• Enedo’s customers are large multinationals, offering potential for future growth.

Acquisition strategy and integration

• Acquisition targets are chosen for complementary customer portfolios, management, culture, financial health, and geography.

• Synergies are realized post-acquisition, but not factored into initial pricing.

• Current focus is on expanding geographically into Denmark, northern Germany, and Poland.

• Enedo is expected to pursue acquisitions in 1–2 years after further stabilization.