Svitzer Group (SVITZR) AGM 2025 summary

Opening remarks and agenda

• Warm welcome extended to shareholders, with emphasis on the value of direct feedback and electronic participation.

• Meeting chaired by Niels Kornerup, confirming legal competence and over 70% share capital representation.

• Agenda included management report, annual report approval, profit distribution, discharge of board, remuneration, board elections, auditor appointment, treasury shares, shareholder proposals, and other business.

Financial performance review

• Revenue grew 9% to DKK 6.3 billion, with adjusted EBITDA up 11% to nearly DKK 1.9 billion and a margin of 29.9%.

• Free cash flow increased to DKK 584 million, reflecting disciplined cost and supplier management.

• Outperformed original 2024 guidance and expectations.

• Regional growth: Australia (10% revenue growth), Europe (11%), Americas (notable growth in Brazil), and EMEA (activity and day rate increases).

• CapEx decreased in most regions except Americas, where growth investments rose.

Board and executive committee updates

• Board settled into strong collaboration post-establishment in April 2024.

• Board evaluation confirmed value-adding approach; proposal to add Kim Soo Ho as an independent member.

• Board and executive management received discharge for 2024.