Idun Industrier AB: Idun year-end report January - December 2025

Idun's net sales increased by 8.4% and EBITA rose by 2.0% during the quarter. Organically, net sales grew by 4.8% while EBITA declined by 2.7% in the quarter. Earnings per share increased to SEK 2.8 (2.3) in the quarter and rose by 19.8% for the full year to SEK 13.9 (11.6). High acquisition activity, with investments in MEAB Stainless AB and Trikåby AB during the quarter.

Fourth quarter 2025

• Net sales increased by 8.4% to SEK 615 million (567). Organic growth was 4.8%
• Gross profit amounted to SEK 368 million (347)
• EBITDA amounted to SEK 89 million (87)
• Operating profit EBITA amounted to SEK 76 million (74). Organic growth was -2.7%
• Operating profit EBITA attributable to Idun's common shareholders amounted to SEK 62 million (58)
• Earnings per share adjusted for goodwill after dilution amounted to SEK 2.8 (2.3)
• Cash flow from operating activities amounted to SEK 73 million (85)
• Idun has acquired 80% of the shares in Trikåby AB, Sweden's leading manufacturer of knitted technical textiles and jersey fabrics. In recent financial years, the company has generated revenues of just over SEK 130 million with operating profit after depreciation of approximately SEK 30 million. Idun acquired the shares on 15 December 2025.
• Idun, through Eugen Wiberger AB, has acquired 100% of the shares in MEAB Stainless AB ("MEAB"). MEAB holds a strong position in the Swedish market for stainless and acid-resistant fasteners. The company generates annual revenues of just over SEK 30 million with solid profitability. Eugen Wiberger AB acquired the shares on 5 November 2025.

January - December 2025

• Net sales increased by 4.8% to SEK 2,298 million (2,192). Organic growth was 1.2%
• Gross profit amounted to SEK 1,384 million (1,312)
• EBITDA amounted to SEK 364 million (356)
• Operating profit EBITA amounted to SEK 316 million (308). Organic growth was -2.6%
• Operating profit EBITA attributable to Idun's common shareholders amounted to SEK 262 million (237), growth of 10.5%. The reason EBITA attributable to Idun's common shareholders increases at a higher rate is that we increased our ownership in group companies during the year, see below
• Earnings per share adjusted for goodwill after dilution amounted to SEK 13.9 (11.6)
• Cash flow from operating activities amounted to SEK 231 million (256)
• Idun, through Idun Mekaniska Komponenter AB, on 21 February 2025, increased its ownership in Eugen Wiberger AB by 15 percentage points. Idun previously owned 71% of the company's shares and, after the transaction, owns 86% of the company.
• On 5 March 2025, Idun entered into a loan agreement with Danske Bank and SEB and also gave notice of early redemption of the 2022/2026 bonds with ISIN SE0017131170. The unsecured loan agreement includes two credit facilities: a term loan of SEK 550 million and a revolving credit facility of SEK 450 million. The loan agreement has a maturity of three years, with the option to extend by two years. In connection with the loan agreement, in addition to the bonds, approximately SEK 304 million of existing acquisition loans were repaid. Certain existing bank debt, mainly real estate facilities, will remain. In total, an annual reduction in interest expenses of approximately SEK 20 million is expected, while achieving a more efficient and flexible capital structure.
• Idun, through Idun Industrial Components AB, on 23 April 2025, increased its ownership in 2B Best Business AB by 28 percentage points. Idun previously owned 70% of the company's shares and, after the transaction, owns 98% of the company.
• Idun, through Fredahl Rydéns Holding, on 3 July 2025, acquired 75% of the shares in Barem OÜ ("Barem"). Barem, together with its subsidiary Puidu Taavet, is one of the leading suppliers to the funeral industry in Finland and Estonia.

Events after the reporting period

• Idun has acquired 90.1% of the shares in Mouldex Sweden AB ("Mouldex"), a leading Swedish service and aftermarket company focusing on service, spare parts, and refurbishment and upgrading of machinery for the sawmill industry. In recent financial years, Mouldex has generated revenues of approximately SEK 45-50 million with high and stable profitability. Idun acquired the shares on 26 January 2026.

Live presentation of Idun's year-end report 2025
During the presentation, CEO Henrik Mella and CFO Oskar Samuelsson will comment on the results. After the presentation, a Q&A session will follow, moderated by Carl Korsheden, analyst at DNB Carnegie. The presentation will be held in English.

The recording will afterwards be published on Idun's website under Investors and Presentations.

Date: 4 March 2026
Start time: 11:00 CEST

How to Join:
Join the digital presentation via the following link: https://qcnl.tv/p/UYH1d3tSA9iXV4s-Q532_A. After registering, you will be directed straight to the live broadcast.

CEO's message

During the fourth quarter of the year, net sales increased by 8.4% to SEK 615 million (567), and operating profit (EBITA) rose by 2.0% to SEK 76 million (74). Organically, net sales grew by 4.8%, while organic earnings change amounted to -2.7%. Earnings per share (adjusted for goodwill, after dilution) increases by approximately 20% for both the quarter and the full year. During the quarter, we acquired the trading company MEAB and the textile manufacturer Trikåby.

Despite the fourth quarter being characterized by a continued relatively subdued economic climate, we closed the year with growth in both sales and earnings, as well as strong cash conversion (cash flow of SEK 73 million in the quarter, compared to EBITDA of SEK 89 million). For the full year 2025, net sales increased by 4.8% to SEK 2,298 million (2,192), and EBITA rose by 2.4% to SEK 316 million (308). The EBITA margin for the full year amounted to 13.7% (14.1).

Examples of companies that performed strongly during the year include Eugen Wiberger (a distributor of mechanical components) and Stegaföretagen (services and products within vehicle washing, among other areas). Both companies ended the year on a strong note with solid results also in the fourth quarter. Encouragingly, Triton (service and new manufacturing of rollers), which experienced a challenging 2025 and has now significantly reduced its overhead costs, delivered a good quarter with solid profitability.

On the other hand, certain operations continued to feel the impact of a relatively weak economic climate toward the end of 2025. For example, Intermercato (manufacturer of grapples, scales and other lifting equipment) reported weaker earnings in the quarter as several of its key markets, including the Nordics and Germany, showed lower demand. Ståthöga MA Teknik (including maintenance services for heavy industry) also faced some headwinds as the process industry reduced its maintenance spending during the past year. For both of these companies, however, we are relatively confident that a turnaround will come as customers' purchasing and maintenance needs can no longer be postponed indefinitely.

During the quarter, through the group company Eugen Wiberger, we acquired 100% of the shares in MEAB Stainless, which holds a strong position in the Swedish market for stainless acid-resistant fasteners and generates annual sales of approximately SEK 30 million with good profitability. The strategic fit between MEAB and Wiberger is excellent, and it is gratifying that Wiberger's capable management and colleagues are given additional opportunities for growth and development through the right add-on acquisition. Toward the end of the quarter, we also acquired 80% of the shares in Trikåby, Sweden's leading manufacturer of knitted technical fabrics and jersey fabrics. In recent years, Trikåby has generated annual sales of approximately SEK 130 million and operating profit after depreciation of around SEK 30 million. Subsequent to the end of the quarter, we also acquired 90.1% of the shares in Mouldex Sweden, a leading service and spare parts partner to the sawmill industry. Mouldex has annual sales of SEK 45-50 million and stable, solid profitability. We are proud to have been entrusted to become the main owner of these fine companies and we warmly welcome all new colleagues to Idun!

Our financing costs continue to decline as planned, and during the quarter work progressed to reduce overhead costs in certain group companies, which will have an effect in 2026. At the same time, investments continue primarily in product development, personnel, marketing and sales.

Looking ahead to 2026, the overall picture is that the market situation is likely beginning to stabilize. We are receiving positive signals from several directions, although there remains significant variation between industries and certain uncertainties persist. However, our group companies are well prepared, and we view the future with confidence. We do not provide financial forecasts, but would like to point out that, over time, we should be able to improve the operating margin somewhat. Regarding investments in new businesses, Idun Industrier maintains a strong financial position and we continue to see good opportunities for further acquisitions.

Henrik Mella, CEO

For further information, please contact:

Henrik Mella, CEO - [e-mail], [phone]
Oskar Samuelsson, CFO - [e-mail], [phone]

Idun's Certified Adviser is Avanza Bank AB - [e-mail], [phone]

This information is information that Idun Industrier 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 2026-03-04 07:00 CET.

About Us

Idun Industrier AB (publ) is a group of companies that, together with the management of each group company, develops industrial and service businesses in Sweden with a long-term perspective. Idun invests in small and medium-sized high-quality companies, typically niche-focused with strong market positions and stable business models, where Idun can be a relevant and permanent owner. Idun comprises 20 independent group companies employing around 1,000 people, with annual revenues of approximately SEK 2.5 billion. More information is available at www.idun.com.

Idun's shares are listed on Nasdaq Stockholm, First North Growth Market, under the ticker IDUN B.