Viacon Group AB (publ): Stable quarter with strengthened margins

THIRD QUARTER 2025

• Net sales amounted to EUR 45,775 thousand (45,858), a decrease of 0.2% compared with the corresponding period last year. Organic growth amounted to 2.0%.
• Operating earnings (EBIT) amounted to EUR 7,333 thousand (2,053), corresponding to an EBIT margin of 16.0% (4.5).
• EBITA amounted to EUR 7,363 thousand (2,083), corresponding to an EBITA margin of 16.1% (4.5).
• Operating earnings before depreciation (EBITDA) amounted to EUR 8,943 thousand (3,842), corresponding to an EBITDA margin of 19.5% (8.4).
• Underlying earnings before depreciation (underlying EBITDA) amounted to EUR 4,628 thousand (4,144), corresponding to an underlying EBITDA margin of 10.1% (4.5).
• Order intake amounted to EUR 47,839 thousand (52,924), a decrease of 9.6% compared with the same period last year. Organic growth amounted to -6.7%.
• Earnings per share amounted to EUR 36.77 (-54.94).

JANUARY - SEPTEMBER 2025

• Net sales amounted to EUR 129,187 thousand (124,997), an increase of 3.4% compared with the corresponding period last year. Organic growth amounted to 6.6%.
• Operating earnings (EBIT) amounted to EUR 11,609 thousand (1,157), corresponding
  to an EBIT margin of 9.0% (0.9).
• EBITA amounted to EUR 11,699 thousand (1,247), corresponding to an EBITA margin
  of 9.1% (1.0).
• Operating earnings before depreciation (EBITDA) amounted to EUR 16,970 thousand (6,526), corresponding to an EBITDA margin of 13.1% (5.2).
• Underlying earnings before depreciation (underlying EBITDA) amounted to EUR 13,548 thousand (8,090), corresponding to an underlying EBITDA margin of 10.5% (6.5).
• Order intake amounted to EUR 135,353 thousand (145,530), a decrease of 7.0% compared with the same period last year. Organic growth amounted to -4.2%.
• Earnings per share amounted to EUR -21.82 (-231.57).

COMMENTS FROM THE CEO

The third quarter was characterized by stable performance, where we succeeded in strengthening both earnings and margins, despite revenue being in line with the previous year.

The unchanged revenue is primarily due to delays in decision-making processes for major infrastructure projects across several of our key markets. At the same time, we are seeing a clear trend in Europe where large-scale infrastructure investments are being planned, both in the short and long term. However, these initiatives are preceded by complex permitting and decision-making processes, which means we have so far only seen limited impact in order intake within ViaCon's areas of operation. A clear example is the Polish market, which is of strategic importance to us. There, a new law is expected to be adopted by the end of 2025 that will significantly accelerate the processes for infrastructure projects. This is a crucial measure to enable the country to make use of the substantial EU funds allocated to Poland.

Sales for the quarter amounted to EUR 45,775 thousand (45,858), a decrease of 0.2% compared to the previous year. Organic growth was 2.0%, adjusted for exchange rate effects, divestments and acquisitions.

Operating earnings (EBIT) amounted to EUR 7,333 thousand (2,053), corresponding to an EBIT margin of 16.0% (4.5). Items affecting comparability in the quarter amounted to EUR -4,315 thousand (302). The adjusted operating earnings amounted to EUR 3,018 thousand (2,355), corresponding to an adjusted EBIT margin of 6.6% (5.1). Operating profit was positively impacted by a reduced cost base, resulting from the sustainable efficiency measures implemented at the end of 2024.

Cash flow from operating activities for the quarter was stronger compared to the same period last year, mainly driven by improved working capital.

In July, the divestment of the property in France was completed, generating a positive cash flow effect of just over EUR 9 million. A similar process is underway regarding a potential divestment of ViaCon's property in the United Kingdom.

During the quarter, the proposed amendments to ViaCon's bonds were approved, which, among other things, entail an extension of the final repayment date by 30 months to May 4, 2028. This also entails a shareholder contribution that strengthens the Group's balance sheet. In addition, ViaCon has secured an extension of its revolving credit facility of EUR 24 million until February 4, 2028. These changes were implemented in October 2025.

Order intake during the quarter amounted to EUR 47,839 thousand (52,924), a decrease of 9.6% compared to last year. Organic growth amounted to -6.7%.

We have seen positive earnings development throughout all quarters of the year, even though market conditions have not yet returned to normal levels. A key driver going forward is the large-scale infrastructure investments that are now beginning to materialize, which are expected to lead to a gradual recovery. This positive market outlook, combined with our secured financing, gives us strong confidence as we approach in the coming years.

Stefan Nordström,
President and CEO

The full report is published at www.viacongroup.com.

For further information, please contact:

Stefan Nordström, CEO
E-mail: [e-mail]
Tel: [phone]

Philip Delborn, CFO
E-mail: [e-mail]
Tel: [phone]

About Us

ViaCon constructs connections. Consciously.

ViaCon was founded in 1986 with establishments in Sweden and Norway and is a market-leading European provider of sustainable civil engineering corrugated steel structures, geotechnical, and storm-water solutions. ViaCon has a comprehensive local market know-how and manufacturing footprint, with presence in 18 countries and employing ~700 people.
Combining more than three decades of experience with today's cutting-edge technology, ViaCon is a pioneer in the field of Bridges & Culverts-, GeoTechnical- and StormWater Solutions, which make up the three business units in the Company. ViaCon offers its customers a host of distinct state-of-the-art, mission-critical solutions for various infrastructure products and solutions that are reliable, long-lasting and designed to meet the challenges of a changing world. ViaCon is owned by funds advised by FSN Capital Partners, a leading private equity advisor in Northern Europe.

This information is information that ViaCon Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-11-17 15:00 CEST.

For further information, please contact:

Stefan Nordström, CEO
E-mail: [e-mail]
Tel: [phone]

Philip Delborn, CFO
E-mail: [e-mail]
Tel: [phone]

About Us

ViaCon constructs connections. Consciously.

ViaCon was founded in 1986 with establishments in Sweden and Norway and is a market-leading European provider of sustainable civil engineering corrugated steel structures, geotechnical, and storm-water solutions. ViaCon has a comprehensive local market know-how and manufacturing footprint, with presence in 18 countries and employing ~700 people.
Combining more than three decades of experience with today's cutting-edge technology, ViaCon is a pioneer in the field of Bridges & Culverts-, GeoTechnical- and StormWater Solutions, which make up the three business units in the Company.
ViaCon offers its customers a host of distinct state-of-the-art, mission-critical solutions for various infrastructure products and solutions that are reliable, long-lasting and designed to meet the challenges of a changing world.
ViaCon is owned by funds advised by FSN Capital Partners, a leading private equity advisor in Northern Europe.

This information is information that ViaCon Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-11-17 15:00 CET.