INTERIM PRESENTATION

Q4 2022

January 27, 2023

JUAN VARGUES

PRESIDENT & CEO

Q4 2022 HIGHLIGHTS

Market development

  • Challenging macroeconomic environment
  • Channel inventories remained high

Performance

  • 11% sales growth, -11% organic
    • Marine strong, +11% organic
    • Service & Aftermarket -22% organic
    • OEM -6% organic, driven by RV OEM in the US ▪ Other OEM businesses are growing
  • EBITA margin before i.a.c. 7.0% (11.4%)
    • Decline driven by EMEA and Americas
    • Igloo margin in line with last year. Seasonally weak quarter
  • Significantly improved operating cash flow. Inventory reduced

Q4 2022 FINANCIAL SUMMARY

Net sales of SEK 6,172 m, +11% total growth

  • -11%Organic
  • 15% FX
  • 8% M&A

EBITA before i.a.c. SEK 430 m, -32%

  • EBITA margin 7.0% (11.4%)

Adjusted EPS SEK 0.54 (0.98)

Operating cash flow SEK 1,117 m (546)

Leverage 3.0x (2.6x), same as in Q3 2022

Dividend of SEK 1.30 (2.45) proposed by the Board

-32%

11%

6,172

Net Sales

EBITA

5,542

632

430

Q4 2021

Q4 2022

EBITA before items affecting comparability

FULL YEAR 2022 FINANCIAL SUMMARY

Net sales of SEK 29,764 m, +38% total growth

  • -3%Organic
  • 11% FX
  • 30% M&A

EBITA before i.a.c. SEK 3,931 m, +17%

  • EBITA margin of 13.2%% (15.6%)

Adjusted EPS SEK 8.32 (6.75)

Operating cash flow SEK 2,268 m (1,749)

17%

38%

29,764

21,516

3,931

3,348

Net Sales

EBITA

YTD December 2021

YTD December 2022

EBITA before items affecting comparability

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