Q3 2025
Continuing operations

• Net sales amounted to SEK 4,165m (4,596)
• Adjusted EBITA amounted to SEK 373m (286)
• The adjusted EBITA margin was 9.0% (6.2)
• Operating profit amounted to SEK 606m (-25)
• Operating profit was impacted by items affecting comparability of SEK +263m (-34)
• Profit for the period amounted to SEK 444m (-219)

Group total

• Adjusted diluted earnings per share amounted to SEK 0.43 (0.40)
• Diluted earnings per share amounted to SEK 1.20 (-0.45)
• Cash flow from operating activities amounted to SEK 868m (783)
• Adjusted leverage excluding finance leases was 1.6x (1.2x)

January–September 2025
Continuing operations

• Adjusted EBITA amounted to SEK 1,586m (1,434)
• Operating profit amounted to SEK 1,874m (1,064)
• Operating profit was impacted by items affecting comparability of SEK +380m (-34)
• Profit for the period amounted to SEK 1,234m (352)

Group total

• Adjusted diluted earnings per share amounted to SEK 2.45 (2.32)
• Diluted earnings per share amounted to SEK 11.70 (1.47)
• Cash flow from operating activities amounted to SEK 1,652m (2,042)

Significant events during the quarter

• On 25 July, an arbitration award was issued in a dispute involving Diab as one of the parties. As a result of the award and in line with Ratos’s ongoing strategy, a decision was made to decrease the capacity in Diab’s PET production and to impair certain assets directly linked to the dispute. Overall, this resulted in a positive outcome of SEK +300m for Diab.

“The quarter was characterised by generally subdued demand as a result of geopolitical uncertainty, trade policies, and the business cycle. For Ratos, this resulted in lower sales in the quarter. At the same time, we saw that the measures we have taken to improve cost control, operational efficiency and optimisation of our companies’ production resources have yielded results. Both EBITA and the operating margin improved further during the quarter. Organic net sales decreased by just over 3%, primarily due to a decline in Construction & Services.”
Jonas Wiström, President & CEO, Ratos

A presentation of the interim report will be held today at 09.00 a.m. CEST. The presentation will be held in English and will also be available as a webcast on Ratos website, www.ratos.com.

The presentation can be followed on Youtube via the following link;
https://youtube.com/live/Q4RmvZKK4vc?feature=share

Participants who wish to ask questions live are asked to pre-register, please send an e-mail to info@ratos.com in advance for a personal invitation.

Representatives of the media are welcome to contact Katarina Grönwall, VP Communications, for interview requests.

Stockholm 21 October 2025
Jonas Wiström
President & CEO