Kvartalsrapport Q2 2025

===== SIDA 1 =====

INTERIM REPORT JANUARY–JUNE 2025   Q2  
 
 Strong order intake while results impacted by the global  economic uncertainty APRIL–JUNE 2025     • Order intake increased 10.1% to EUR 44.4 million (40.3)  • Revenue decreased -16.2% to EUR 35.7 million (42.6) • EBIT amounted to EUR -0.7 million (2.4) with an EBIT margin of -2.0% (5.5%) • Adjusted EBIT amounted to EUR -0.4 million (2.4) with an adjusted EBIT margin of -1.1% (5.5%) • Net result for the period amounted to EUR -1.5 million (0.7)  • Operating cash flow decreased to EUR 0.05 million  (5.0) • Earnings per share, basic and diluted, amounted to  EUR -0.014 (0.006)  
JANUARY–JUNE 2025 • Order intake decreased -9.0% to EUR 73.0 million (80.2)  • Order backlog increased 5.5% to EUR 124.9 million (118.3)  • Revenue decreased -12.9% to EUR 74.4 million (85.5) • EBIT amounted to EUR 0.04 million (4.3) with an EBIT margin of 0.1% (5.0%) • Adjusted EBIT amounted to EUR 0.6 million (4.3) with an adjusted EBIT margin of 0.8% (5.0%) • Net result for the period amounted to EUR -1.4 million (1.2)  • Operating cash flow improved to EUR 5.4 million (5.0) • Earnings per share, basic and diluted, amounted to EUR -0.013 (0.011) • Net debt increased to EUR -15.6 million from EUR  -15.3 million at year-end 2024 and the leverage ratio increased to 1.23x from 0.91x KEY EVENTS DURING THE SECOND QUARTER • In May 2025, Cavotec Group AB (“CGAB”), which at the time was a wholly owned Swedish subsidiary of Cavotec SA (“CSA”), announced an offer to acquire all shares in CSA in exchange for one ordinary share in CGAB per CSA share, for the purpose of implementing a change of domicile from Switzerland to Sweden. On 30 June 2025, CGAB announced that the offer was successfully completed, entailing that CGAB is the new parent company. As the interim report for the second quarter 2025 refers to the period before completion of the offer, the interim report for this quarter is issued by CSA. The interim report for the third quarter 2025 will be the first report issued by CGAB. • Shore power order signed with leading global container shipping company worth EUR 8.1 million  • Shore power order signed for Port of Antwerp-Bruges cruise terminal worth EUR 1.55 million • Next generation radio remote controls launched • Launch of the MCS Manual Dispenser, supporting the Megawatt Charging System (MCS) for high-power charging applications up to 4.5 M  KEY EVENTS AFTER THE END OF THE SECOND QUARTER • Contract for a MoorMaster automated mooring system to a container terminal in Morocco worth EUR 5 million  FINANCIAL SUMMARY EUR 000s Q225 Q224 Change 6M25 6M24 Change LTM 2024 Change Order intake 44,391 40,304 10.1% 72,968 80,183 -9.0% 170,565 177,780 -4.1% Order backlog 124,859 118,312 5.5% 124,859 118,312 5.5% 124,859 126,390 -1.2% Revenue 35,670 42,550 -16.2% 74,387 85,453 -12.9% 163,886 174,952 -6.3% EBITDA 755 3,609     -79.1% 3,055 7,030 -56.5% 12,702     16,677 -23.8% EBITDA margin 2.1% 8.5% -6.4pp 4.1% 8.2% -4.1pp 7.8% 9.5% -1.7pp EBITDA, adjusted 1,094     3,609 -69.7% 3,636     7,030 -48.3% 13,530     16,924 -20.1% EBITDA margin, adjusted 3.1% 8.5% -5.4pp 4.9% 8.2% -3.3pp 8.3% 9.7% -1.4pp EBIT (operating result) (715) 2,360 -130.3% 39 4,311 -99.1% 6,621     10,893 -39.2% EBIT margin -2.0% 5.5% -7.5pp 0.1% 5.0% -4.9pp 4.0% 6.2% -2.2pp EBIT (operating result), adjusted (376) 2,360 -115.9% 620 4,311 -85.6% 7,449 11,139 -33.1% EBIT margin, adjusted -1.1% 5.5% -6.6pp 0.8% 5.0% -4.2pp 4.5% 6.4% -1.9pp Net profit/loss for the period (1,466)    665 -320.5% (1,410) 1,182 -219.3% 1,248     3,840 -67.5% Operating cash flow 51     4,960 -99.0% 5,436 5,009 8.5% 6,653     6,226 6.9% Basic and diluted EPS, EUR (0.014) 0.006 -333.3%  (0.013)     0.011 -218.2% 0.012     0.036 -66.7%  Net debt (15,572)     (13,686) 13.8%  (15,572) (13,686) 13.8%  (15,572) (15,257) 2.1% Equity/assets ratio 39.8% 36.3% 3.5pp 39.8% 36.3% 3.5pp 39.8% 40.4% -0.6pp Leverage ratio 1.23x  0.82x 0.41x 1.23x 0.82x 0.41x 1.23x  0.91x 0.32x

===== SIDA 2 =====

Comment from the CEO   Successful change of domicile to Sweden    Order intake was strong during the quarter, reflec5ng our solid posi5on in markets driven by the electrifica5on of society. However, the increased global uncertainty has led to greater cau5on among our customers, which has affected our sales of goods and services with shorter delivery 5mes. This has also impacted the profitability for the quarter. During the quarter, we successfully completed the reloca5on of our headquarters from Switzerland to Sweden, which, among other things, brings us closer to our investor base. Order intake increased 10.1% to EUR 44.4 million, driven by good demand for goods and services in the Ports & Maritime segment. As a result, the order backlog grew 7.4% to EUR 124.9 million compared to the end of the previous quarter. The strong order intake in Ports & Maritime was largely driven by demand for shore power in Europe. Among the larger orders announced during the quarter are a contract worth EUR 8.1 million with a leading global container shipping company, and the order from Equans for the cruise terminal at the Port of Antwerp-Bruges, worth EUR 1.55 million. We are also seeing solid demand for our automated mooring systems and announced in July a contract worth EUR 5 million with a container terminal in Morocco.   Demand driven by customers’ efficiency needs This development is being driven by the strong need to electrify the mariXme sector and thereby reduce emissions. Other factors driving demand include the need for safer workplaces and reduced noise levels in areas such as cruise terminals. Increased efficiency and operaXonal excellence also remain strong driving forces for our customers, not least within the Industry segment. Within the Industry segment, we have increased our customer acXviXes over the year and see new opportuniXes with both new and exisXng customers.  Despite these strong drivers, we see that our customers have been affected by the global economic uncertainty and have postponed some orders with shorter lead Xmes that would have been booked and billed within the year. This impacted our sales, which declined  -16.2% during the quarter to EUR 35.7 million. Revenue is also affected by the project-driven character of our business and the fact that we will not begin delivering on the orders Ports & MariXme signed at the end of 2024 unXl the second half of 2025 at the earliest.  Upcoming major deliveries  Profitability was also affected by the lower sales of goods and services with shorter delivery Xmes and the ongoing ramp-up in preparaXon for the upcoming major deliveries in Ports & MariXme. EBIT , adjusted for the cost of relocaXon the headquarters to Sweden, decreased to EUR  -0.4 million (2.4). Cash flow as well as our financial posiXon was negaXvely impacted by the performance in the quarter . We are, of course, closely monitoring the sales development and how it affects our profitability and financial posiXon in order to be prepared to take acXon should that be necessary. 
Closer to our investor base in Sweden We have recently successfully completed the relocaXon of our headquarters from Switzerland back to Sweden. Cavotec was founded in Sweden 50 years ago, and a large majority of our investors are based there. With this move, we are now closer to our large and important investor base in Sweden. We have been listed on Nasdaq Stockholm since 2011, but in connecXon with the relocaXon, we carried out a re-lisXng of our shares on 9 July. As a result of now having a Swedish headquarters, we also have a new auditor — Patrik Adolfson from PwC Sweden. We expect that the move will increase our visibility while enabling faster decision-making, more efficient processes, and greater flexibility. In short, it will make us more investor-friendly, more efficient, and help reduce costs.  More product launches in the second half of the year This spring, we launched our new generaXon of radio remote controls and a new MCS Manual Dispenser. The Dispenser is designed to support our Megawaf Charging System (MCS) for high-power charging applicaXons with up to 4.5 MW of charging power. The products have been well received, and we have more exciXng product launches planned for the second half of the year.   ConXnued strong underlying markets Our underlying markets remain strong, despite an uncertain global environment, driven by electrificaXon and the need to reduce negaXve climate impact. Our customers, like many others, are however affected by the uncertainty surrounding interest rates and tariffs, which makes them cauXous and hesitant in their purchasing of goods and services with shorter delivery Xmes. With our strong customer relaXonships, afracXve offering, and dedicated employees, I remain confident in our ability to grow profitably and create value.     David Pagels Chief Executive Officer

===== SIDA 3 =====

Q2 2025 | Interim Report January-June 2025   
 
3 ● cavotec.com 
Financial Review – Group  REVENUE – GROUP AND SEGMENTS – VOLUMES, PRICES, CURRENCY  EUR 000s Q225 Q224 6M25 6M24  Group Ports & Maritime Industry Group Ports & Maritime Industry Group Ports & Maritime Industry Group Ports & Maritime Industry Revenue  35,670 21,232 14,438 42,550 25,553 16,997 74,387 43,375 31,012 85,453 52,207 33,246 Increase/(decrease) -6,880 -4,321 -2,559 -3,184 -3,211 27 -11,066 -8,832 -2,234 192 -193 385 Change -16.2% -16.9% -15.1% -7.0% -11.2% 0.2% -12.9% -16.9% -6.7% 0.2% -0.4% 1.2% Of which             - Volumes and prices -15.9% -16.8% -14.6% -7.0% -11.3% 0.3% -12.6% -16.7% -6.2% 0.8% 0.2% 1.9% - Currency effects -0.3% -0.1% -0.5% 0.0% 0.1% -0.1% -0.3% -0.2% -0.5% -0.6% -0.6% -0.7%  APRIL-JUNE 2025  Revenue, order intake and order backlog Revenue decreased -16.2% to EUR 35.7 million (42.6) due to softer sales in both the Ports & Maritime and Industry segments. Currency effects had a negative effect of -0.3% in the quarter.  Order intake increased 10.1% to EUR 44.4 million (40.3), driven by good demand for Ports & Maritime’s product and service offerings. The order backlog increased 5.5% to EUR 124.9 million (118.3) and increased 7.4% from the end of the first quarter 2025.   EBIT (operating result) EBIT decreased -130.3% to EUR -0.7 million (2.4) due to lower revenue. The EBIT margin amounted to -2.0% (5.5%).   Adjusted EBIT decreased -115.9% to EUR -0.4 (2.4) million and the adjusted EBIT margin amounted to -1.1% (5.5%). EBIT has been adjusted in the quarter for non-recurring costs of EUR 0.34 million (-) related to the relocation of the registered office from Switzerland to Sweden.   Profit for the period and earnings per share Net financial income improved to EUR -0.6 million (-0.9). Profit before income tax decreased to EUR -1.2 million (1.5). Income taxes amounted to EUR -0.3 million (-0.8). Profit for the period decreased to EUR -1.5 million (0.7). Earnings per share, basic and diluted, decreased to EUR -0.014 (0.006).  Cash flow Operating cash flow decreased to EUR 0.05 million (5.0) due to lower profit and higher working capital.   JANUARY-JUNE 2025  Revenue and order intake Revenue decreased -12.9% to EUR 74.4 million (85.5) due to lower sales in both the Ports & Maritime and Industry segments. Currency effects had a negative impact of -0.3% during the six-month period.  Order intake decreased -9.0% to EUR 73.0 million (80.2), mainly due to the lower order intake in Ports & Maritime in the first quarter. However, the order intake in Ports & Maritime in the first quarter should be seen in the light of the strong order intake during the latter part of the fourth quarter 2024.   EBIT (operating result) EBIT decreased 99.1% to EUR 0.04 million (4.3) and the EBIT margin amounted to 0.1% (5.0%), reflecting lower revenue.

===== SIDA 4 =====

Q2 2025 | Interim Report January-June 2025   
 
4 ● cavotec.com 
 Adjusted EBIT decreased -85.6% to EUR 0.6 million (4.3) and the adjusted EBIT margin amounted to 0.8% (5.0%). EBIT has been adjusted in the six-month period for non-recurring costs of EUR 0.58 (-) million related to relocation of the registered office from Switzerland to Sweden.   Profit for the period and earnings per share Net financial income improved to EUR -1.0 million (-1.5). Profit before income tax decreased to EUR -0.9 million (2.8). Income taxes amounted to EUR -0.5 million (-1.6). Profit for the period decreased to EUR -1.4 million (1.2). Earnings per share, basic and diluted, amounted to EUR -0.013 (0.011).  Cash flow Operating cash flow increased to EUR 5.4 million (5.0) due to improved working capital.  Financial position Net debt increased to EUR -15.6 million from EUR -15.3 million at 31 December 2024 and increased from EUR -11.6 million at 31 March 2025. The leverage ratio, measured as debt-to-adjusted EBITDA LTM, amounted at the end of the quarter to 1.23x, an increase from 0.91x at 31 December 2024 and an increase from 0.74x at 31 March 2025. The equity/assets ratio decreased in the quarter to 39.8% from 40.4% at 31 December 2024 and was unchanged from  31 March 2025.   Employees At the end of the period, Cavotec had 722 (674) full-time equivalent employees. The increase is mainly due to the recruitment of service engineers.    
  
 - 10 20 30 40 50 60
Q223Q323Q423Q124Q224Q324Q424Q125Q225
Group Revenue quarterly development EUR m
EBIT margin, % 
EBIT, EUR million Ports & Maritime Industry 
-4%-2%0%2%4%6%8%10%12%14%
-1012345
Q223Q323Q423Q124Q224Q324Q424Q125Q225
Group EBIT and EBIT marginEUR m

===== SIDA 5 =====

Q2 2025 | Interim Report January-June 2025   
 
5 ● cavotec.com 
 Financial Review – Segments  ORDER INTAKE AND BACKLOG – SEGMENTS EUR 000s Q225 Q224 Change Q125 Change Q424 Change Order intake        Ports & Maritime 29,318 24,512 19.6% 12,011 144.1% 43,644 -32.8% Industry 15,073 15,792 -4.6% 16,566 -9.0% 17,810 -15.4% Group 44,391 40,304 10.1% 28,577 55.3% 61,454 -27.8% Order backlog         30 June, 2025 30 June, 2024 Change 31 March, 2025 Change 31 December, 2024 Change Ports & Maritime 100,116 95,339 5.0% 92,161 8.6% 102,293 -2.1% Industry 24,743 22,973 7.7% 24,089 2.7% 24,097 2.7% Group 124,859 118,312 5.5% 116,250 7.4% 126,390 -1.2%   PORTS & MARITIME  APRIL-JUNE 2025  Revenue, order intake and order backlog Revenue decreased -16.9% to EUR 21.2 million (25.6), negatively impacted by the increased global uncertainty which has led to greater caution among customers. Currency effects had a negative impact of -0.1%.   Order intake increased 19.6% to EUR 29.3 million (24.5), largely driven by demand for shore power in Europe. The order backlog increased 5.0% to EUR 100.1 million (95.3) and increased 8.6% from EUR 92.2 in the first quarter 2025. In the quarter, an order for shore power systems, valued at EUR 8.1 million, was signed with a leading global container shipping company. The order includes cable management reels and weatherproof enclosures, with deliveries scheduled to begin in the second half of 2026. After the end of the quarter, a EUR 5 million contract was signed with a leading port operator to supply a MoorMaster automated vacuum mooring system to a container terminal in Morocco. Delivery is scheduled for September 2026 and includes a two-year service level agreement.  EBITDA EBITDA decreased -58.2% to EUR 1.1 million (2.7), impacted by the lower revenue, and the EBITDA margin amounted to 5.4% (10.7%).      
0510152025303540
Q223Q323Q423Q124Q224Q324Q424Q125Q225
Ports & Maritime RevenueEUR m
0%5%10%15%20%
01234567
Q223Q323Q423Q124Q224Q324Q424Q125Q225
Ports & Maritime EBITDA and EBITDA marginEUR m
EBITDA, EUR million 
EBITDA margin, %

===== SIDA 6 =====

Q2 2025 | Interim Report January-June 2025   
 
6 ● cavotec.com 
 JANUARY-JUNE 2025  Revenue and order intake Revenue decreased -16.9% to EUR 43.4 million (52.2). Currency effects had a negative impact of -0.2%.   Order intake decreased -13.5% to EUR 41.3 million (47.8), negatively impacted by the lower order intake in the first quarter. However, the order intake in the first quarter should be seen in the light of the strong order intake during the latter part of the fourth quarter 2024.   EBITDA EBITDA decreased -60.3% to EUR 2.2 million (5.5) and the EBITDA margin amounted to 5.1% (10.6%), negatively impacted by lower revenue.   INDUSTRY  APRIL-JUNE 2025  Revenue, order intake and order backlog Revenue decreased -15.1% to EUR 14.4 million (17.0), negatively impacted by the increased global uncertainty which has led to greater caution among customers. Currency effects had a negative impact of -0.5%.   Order intake decreased -4.6% to EUR 15.1 million (15.8) while the order backlog increased 7.7% to EUR 24.7 million (23.0) and increased 2.7% from EUR 24.1 million in the first quarter 2025.   EBITDA EBITDA decreased -144% to EUR -0.4 million (0.9) due to lower revenue. The EBITDA margin amounted to -2.7% (5.1%).  JANUARY-JUNE 2025  Revenue and order intake Revenue decreased -6.7% to EUR 31.0 million (33.2). Currency effects had a negative impact of -0.5%.   Order intake decreased -2.4% to EUR 31.6 million (32.4), mainly due to lower intake in the second quarter.   EBITDA EBITDA decreased -42.6% to EUR 0.9 million (1.5) and the EBITDA margin amounted to 2.8% (4.5%).        
EBITDA, EUR million 
 EBITDA margin, % -3%-1%1%3%5%7%
-0,500,511,52
Q223Q323Q423Q124Q224Q324Q424Q125Q225
Industry EBITDA and EBITDA marginEUR m
05101520
Q223Q323Q423Q124Q224Q324Q424Q125Q225
Industry RevenueEUR m

===== SIDA 7 =====

Q2 2025 | Interim Report January-June 2025   
 
7 ● cavotec.com 
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 
EUR 000s Unaudited three months 30 Jun, 2025 Unaudited three months 30 Jun, 2024 Unaudited six months 30 Jun, 2025 Unaudited six months 30 Jun, 2024 Audited year  31 Dec, 2024 Revenue from sales of goods and services 35,670 42,550 74,387 85,453 174,952 Other income 352 56 652 792 1,336 Cost of materials (16,285) (19,670) (34,594) (41,423) (85,073) Employee benefit costs (13,482) (13,113) (27,263) (27,266) (53,428) Operating expenses (5,500) (6,214) (10,127) (10,527) (21,109) Gross operating result 755 3,609 3,055 7,030 16,677       Depreciation and amortisation (596) (626) (1,209) (1,198) (2,462) Depreciation of right-of-use of leased asset (874) (622) (1,807) (1,520) (3,129) Impairment losses  -  - (193) Operating result (EBIT) (715) 2,360 39 4,311 10,893       Interest income 14 10 16 13 35 Interest expenses (569) (856) (1,050) (1,533) (2,605) Currency exchange differences – net 109 (64) 113 12 (113) Other financial item - - - - (4)       Profit / (loss) before income tax (1,161) 1,451 (882) 2,802 8,206       Income taxes (305) (785) (528) (1,620) (4,366)       Profit / (loss) for the period (1,466) 665 (1,410) 1,182 3,840       Other comprehensive income:      Remeasurements of post-employment benefit obligations (4) (2) (2) 5 (43) Items that will not be reclassified to profit / (loss) (4) (2) (2) 5 (43)       Currency translation differences (1,369) 367 (1,943) (49) (366) Items that will not be subsequently reclassified to profit / (loss) (1,369) 367 (1,943) (49) (366)       Other comprehensive income for the period, net of tax (1,373) 365 (1,945) (44) (409)       Total comprehensive income for the period (2,839) 1,030 (3,355) 1,138 3,431       Total comprehensive income attributable to:      Equity holders of the Group (2,839) 1,030 (3,355) 1,138 3,431 Non-controlling interest - - - - - Total (2,839) 1,030 (3,355) 1,138 3,431       Profit / (loss) attributed to:      Equity holders of the Group  (1,466) 665 (1,410) 1,182 3,840 Total (1,466) 665 (1,410) 1,182 3,840       Basic and diluted earnings per share attributed to the equity holders of the Group (0.014) 0.006 (0.013) 0.011 0.036 Average number of shares 106,696,030 106,696,030 106,696,030 106,696,030 106,696,030

===== SIDA 8 =====

Q2 2025 | Interim Report January-June 2025   
 
8 ● cavotec.com 
CONSOLIDATED BALANCE SHEET EUR 000s Unaudited 30 Jun, 2025 Unaudited 30 Jun, 2024 Audited 31 Dec, 2024 Assets    Current assets    Cash and cash equivalents 11,688 15,803 11,597 Trade receivables 21,867 30,823 26,163 Contract assets - 199 830 Tax assets 2,454 489 2,451 Other current receivables 9,897 10,777 9,899 Inventories 34,501 38,782 35,555 Total current assets 80,407 96,875 86,495     Non-current assets    Property, plant and equipment 5,082 5,335 5,362 Right-of-use of leased assets 13,711 11,342 12,526 Intangible assets 35,161 36,653 35,604 Non-current financial assets 288 288 288 Deferred tax assets 6,652 7,656 6,663 Other non-current receivables 1,357 1,247 1,311 Total non-current assets 62,251 62,520 61,754     Total assets 142,658 159,394 148,249     Equity and Liabilities    Current liabilities    Bank overdraft (1,277) - (128) Current lease liabilities (3,033) (2,526) (2,566) Trade payables (21,143) (24,652) (21,900) Contract liabilities (17,281) (26,318) (17,935) Tax liabilities (2,234) (4,859) (2,320) Provision for risk and charges, current (2,724) (2,241) (3,231) Other current liabilities (11,946) (10,890) (12,857) Total current liabilities (59,638) (71,485) (60,937)     Non-current liabilities    Non-current financial liabilities (11,747) (17,619) (13,601) Non-current lease liabilities (10,950) (8,964) (10,160) Deferred tax liabilities (1,121) (1,254) (1,442) Other non-current liabilities (15) (31) (15) Provision for risk and charges, non-current (1,568) (1,434) (1,321) Employee benefit obligation (899) (759) (911) Total non-current liabilities (26,300) (30,061) (27,450)     Total liabilities (85,938) (101,546) (88,387)     Equity    Share Capital (54,130) (54,130) (54,130) Reserves (53,051) (55,427) (54,783) Retained earnings 50,461 51,709 49,051 Equity attributable to owners of the parent (56,720) (57,848) (59,862) Non-controlling interests  - - Total equity (56,720) (57,848) (59,862)     Total equity and liabilities (142,658) (159,394) (148,249)

===== SIDA 9 =====

Q2 2025 | Interim Report January-June 2025   
 
9 ● cavotec.com 
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY  EUR 000s Share Capital Reserves Retained earnings Equity related to owners of the parent Non- controlling interest Total equity 
Balance as at 1 January 2024 (54,130) (55,323) 52,891 (56,562) - (56,562)        (Profit) / Loss for the period - - (1,182) (1,182) - (1,182) Currency translation differences - 49 - 49 - 49 Remeasurements of post-employment benefit obligations - (5) - (5) - (5) Total comprehensive income and expenses - 44 (1,182) (1,138) - (1,138)        Employees share scheme - (148) - (148) - (148) Transactions with shareholders - (148) - (148) - (148)        Balance as at 30 June 2024 (54,130) (55,427) 51,709 (57,848) - (57,848)        Unaudited       Balance as at 1 January 2024 (54,130) (55,323) 52,891 (56,562) - (56,562)        (Profit) / Loss for the period - - (3,840) (3,840) - (3,840) Currency translation differences - 366 - 366 - 366 Remeasurements of post-employment benefit obligations - 43 - 43 - 43 Total comprehensive income and expenses - 409 (3,840) (3,431) - (3,431)        Employees share scheme - 131 - 131 - 131 Transactions with shareholders - 131 - 131 - 131        Balance as at 31 December 2024 (54,130) (54,783) 49,051 (59,862) - (59,862)        Balance as at 1 January 2025 (54,130) (54,783) 49,051 (59,862) - (59,862)        (Profit) / Loss for the period - - 1,410 1,410 - 1,410 Currency translation differences - 1,943 - 1,943 - 1,943 Remeasurements of post-employment benefit obligations - 2 - 2 - 2 Total comprehensive income and expenses - 1,945 1,410 3,355 - 3,355        Employees share scheme - (213) - (213) - (213) Transactions with shareholders - (213) - (213) - (213)        Balance as at 30 June 2025 (54,130) (53,051) 50,461 (56,720) - (56,720)

===== SIDA 10 =====

Q2 2025 | Interim Report January-June 2025   
 
10 ● cavotec.com 
CONSOLIDATED STATEMENT OF CASH FLOWS 
EUR 000s Unaudited three months  30 Jun, 2025 Unaudited three months  30 Jun, 2024 Unaudited six months  30 Jun, 2025 Unaudited six months  30 Jun, 2024 Audited  31 Dec, 2024 Profit / (loss) for the period (1,466) 665 (1,410) 1,182 3,840       Adjustments for:      Net interest expenses 556 846 1,034 1,521 2,570 Current taxes 293 1,011 616 2,357 4,204 Depreciation and amortisation 595 626 1,209 1,198 2,462 Depreciation of right-of-use of leased assets 874 622 1,807 1,520 3,129 Impairment losses - - - - 193 Deferred tax 11 (225) (89) (736) 163 Provision for risks and charges (442) 687 (766) 129 (460) Capital (gain) or loss on assets - (1) (2) 27 14 Other items not involving cash flows 762 129 659 (99) (271) Interest paid (553) (844) (1,020) (1,482) (2,729) Taxes (paid) / received (457) (1,985) (705) (2,713) (4,730)  1,639 866 2,743 1,721 4,545       Cash flow before changes in working capital 173 1,531 1,333 2,902 8,385       Impact of changes in working capital:      Inventories 14 (1,825) 960 (1,571) 1,849 Trade receivables and contract assets 2,890 (1) 5,476 (230) 4,651 Other current receivables 279 802 (12) (1,456) (4,934) Trade payables and contract liabilities (2,024) 5,956 (1,411) 5,697 (5,437) Other current liabilities (1,281) (1,504) (910) (333) 1,713 Impact of changes involving working capital (121) 3,429 4,103 (2,106) (2,158)       Net cash inflow / (outflow) from operating activities 51 4,960 5,436 5,009 6,226       Financial activities:      Net changes in loans and borrowings (2,000) (2,501) (2,000) (4,023) (7,898) Repayment of lease liabilities (1,103) (1,167) (1,602) (1,501) (3,136) Net cash inflow / (outflow) from financial activities (3,103) (3,668) (3,602) (5,524) (11,034)       Investing activities:      Investments in property, plant and equipment (201) (169) (353) (352) (904) Investments in intangible assets (181) (56) (342) (58) (63) (Increase)/Decrease of non-current financial asset - - - (220) (220) Disposal of assets (16) (3) (15) 1,745 1,873 Net cash inflow / (outflow) from investing activities (398) (229) (710) 1,116 686       Cash at the beginning of the period 15,281 14,169 11,469 15,056 15,056 Cash flow for the period (3,450) 1,063 1,124 601 (4,122) Currency exchange differences (1,420) 572 (2,182) 147 535 Cash at the end of the period 10,411 15,803 10,411 15,803 11,469 Cash and cash equivalents 11,195 15,803 11,688 15,803 11,597 Bank overdraft (784) - (1,277) - (128) Cash at the end of the period 10,411 15,803 10,411 15,803 11,469

===== SIDA 11 =====

Q2 2025 | Interim Report January-June 2025   
 
11 ● cavotec.com 
NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS  General information  Cavotec is a leading cleantech company that designs and delivers connection and electrification solutions to enable the decarbonisation of ports and industrial applications worldwide. Backed by 50 years of experience, our systems ensure safe, efficient, and sustainable operations for a wide variety of customers and applications worldwide. Our credibility comes from our application expertise, dedication to innovation and world class operations. Our success rests on the core values we live by: Integrity, Accountability, Performance and Teamwork. Cavotec’s personnel represent many cultures and provide customers with local support, backed by the Group’s global network of engineering expertise.   On 21 May 2025, Cavotec Group AB (“CGAB”), which at the time was a wholly owned Swedish subsidiary of Cavotec SA (“CSA”), announced an offer to acquire all shares in CSA in exchange for one (1) ordinary share in CGAB per CSA share, for the purpose of implementing a change of domicile from Switzerland to Sweden (the “Offer”). On 30 June 2025, CGAB announced that the Offer was successfully completed, entailing that CGAB is the new parent company of the Cavotec group. CGAB was dormant until the completion of the Offer and continues to operate CSA’s business without any changes after the completion of the Offer. Trading in CGAB’s shares (ISIN: SE0025010887) commenced on Nasdaq Stockholm 9 July 2025 and CSA’s shares will be delisted from Nasdaq Stockholm 30 July 2025.  As the interim report for the second quarter 2025 refers to the period before completion of the Offer, Cavotec’s interim report for the second quarter 2025 is issued by CSA. The interim report for the third quarter 2025 will be the first report issued by CGAB.  These unaudited Financial Statements have been approved by the Board of Directors for publication on 25 July 2025.      
Basis of preparation of Financial Statements This quarterly report was prepared in accordance with IFRS, applying IAS 34 Interim Financial Reporting. The same accounting and valuation policies were applied in the most recent annual report. The amendments to the standards that became applicable for the current reporting period did not have an impact on Cavotec accounts. The interim financial statements should be read in conjunction with the annual financial statements for the year ended December 2024. The preparation of quarterly financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income, and expenses. Actual results may differ from these estimates.   Segment information Operating segments have been determined based on the Group Management structure in place and on the management information and used by the Chief Operating Decision Maker (CODM) to make strategic decisions.   The two operating segments are:  a) Ports & Maritime – development, manufacture and service of innovative automation and electrification technologies for the global ports and maritime sectors.  b) Industry – development, manufacture and service of electrification and radio control products for industrial applications, such as cranes, energy, processing and transportation, mining, and tunnelling.  Noteworthy risks and uncertainties Cavotec’s significant risks and uncertainties are divided into three categories: market, credit, and liquidity risks. In these categories, there are both risks due to political and macroeconomic trends and specific risks directly linked to business carried out by the Group. Market risk includes currency and interest rate risk. Credit risk includes the risk of managing our customers and other receivables while liquidity risk includes the management of cash in a diverse, global group. Read more about the risks in the Annual Report 2024.

===== SIDA 12 =====

Q2 2025 | Interim Report January-June 2025   
 
12 ● cavotec.com 
SEGMENT INFORMATION  EUR 000s Ports & Maritime Industry Other reconciling items Total  Unaudited Three months ended 30 June 2025     
Revenue from sales of goods and services 21,232 14,438 - 35,670 Other income 162 190 - 352 Cost of materials and operating expenses before depreciation and amortisation (18,608) (14,011) (2,648) (35,267) Gross operating result (EBITDA) 2,786 617 (2,648) 755      Unaudited Three months ended 30 June 2024     Revenue from sales of goods and services 25,553 16,997 - 42,550 Other income (37) 93 - 56 Cost of materials and operating expenses before depreciation and amortisation (21,268) (15,280) (2,449) (38,997) Gross operating result (EBITDA) 4,248 1,810 (2,449) 3,609      Unaudited Six months ended 30 June 2025     
Revenue from sales of goods and services 43,375 31,012 - 74,387 Other income 224 428 - 652 Cost of materials and operating expenses before depreciation and amortisation (38,286) (28,666) (5,032) (71,984) Gross operating result (EBITDA) 5,313 2,774 (5,032) 3,055  Unaudited Six months ended 30 June 2024     
Revenue from sales of goods and services 52,207 33,246 - 85,453 Other income 412 380 - 792 Cost of materials and operating expenses before depreciation and amortisation (44,603) (30,577) (4,035) (79,215) Gross operating result (EBITDA) 8,016 3,049 (4,035) 7,030      Unaudited Year ended 31 December 2024     Revenue from sales of goods and services 109,925 65,027 - 174,952 Other income 687 649 - 1,336 Cost of materials and operating expenses before depreciation and amortisation (92,852) (60,296) (6,463) (159,610) Gross operating result (EBITDA) 17,760 5,379 (6,463) 16,677

===== SIDA 13 =====

Q2 2025 | Interim Report January-June 2025   
 
13 ● cavotec.com 
DISAGGREGATION OF REVENUE FROM CONTRACTS WITH CUSTOMERS The Group derives revenue from the transfer of goods and services over time and at a point in time in the following divisions and geographical regions.  30 June 2025 EUR 000s         Ports & Maritime        Industry  Total Revenue from external customer    Timing of revenue recognition    At a point in time 40,750 31,012 71,762 Over time 2,625 - 2,625 Total 43,375 31,012 74,387  30 June 2024 EUR 000s         Ports & Maritime        Industry  Total Revenue from external customer    Timing of revenue recognition    At a point in time 50,910 33,246 84,156 Over time 1,297 - 1,297 Total 52,207 33,246 85,453  31 December 2024 EUR 000s         Ports & Maritime        Industry  Total Revenue from external customer    Timing of revenue recognition    At a point in time 105,349 65,027 170,376 Over time 4,576 - 4,576 Total 109,925 65,027 174,952   30 June 2025 EUR 000s  AMER  EMEA  APAC  Total Ports & Maritime 5,523 18,047 19,805 43,375 Industry 3,080 19,495 8,437 31,012 Total 8,603 37,542 28,242 74,387  30 June 2024 EUR 000s  AMER  EMEA  APAC  Total Ports & Maritime 10,387 12,543 29,276 52,206 Industry 3,043 23,203 7,002 33,247 Total 13,430 35,745 36,278 85,453  31 December 2024 EUR 000s  AMER  EMEA  APAC  Total Ports & Maritime 17,406 37,300 55,219 109,925 Industry 5,915 44,234 14,878 65,027 Total 23,321 81,534 70,097 174,952

===== SIDA 14 =====

Q2 2025 | Interim Report January-June 2025   
 
14 ● cavotec.com 
PARENT COMPANY – CONDENSED STATEMENT OF COMPREHENSIVE INCOME CAVOTEC SA EUR 000s Unaudited three months  30 Jun, 2025 Unaudited three months  30 Jun, 2024 Unaudited six months  30 Jun, 2025 Unaudited six months  30 Jun, 2024 Audited 31 Dec, 2024 Other income 914 1,049 1,720 1,603 2,392 Employee benefit costs (296) (843) (523) (1,145) (1,484) Operating expenses (889) (612) (1,581) (1,158) (2,502) Operating Result (271) (407) (384) (700) (1,594) Interest expenses – net (579) (506) (1,086) (932) (6,946) Currency exchange differences – net (6) 2 (4) 13 9 Non-recurring income - - - - 10,000 Profit / (Loss) for the period (856) (910) (1,474) (1,620) 1,469 Income taxes (15) (3) (17) (5) (3) Profit / (Loss) for the period (871) (913) (1,491) (1,625) 1,466 Other comprehensive income:      Actuarial gain (loss) - - - - 21 Total comprehensive income for the period (871) (913) (1,491) (1,625) 1,487  PARENT COMPANY – CONDENSED BALANCE SHEET CAVOTEC SA EUR 000s Unaudited 30 Jun, 2025 Unaudited 30 Jun, 2024 Audited  31 Dec, 2024 Assets    Current assets    Cash and cash equivalents 59 486 31 Trade receivables 1,184 1,692 2,217 Other current receivables 1,115 1,066 58 Total current assets 2,358 3,243 2,306 Non-current assets    Investment in subsidiary companies 93,412 93,365 93,365 Intangible assets 46 139 92 Other non-current financial liabilities 288 288 288 Total non-current assets 93,746 93,791 93,745     Total assets 96,104 97,034 96,051     Equity and Liabilities    Current liabilities    Bank overdraft (1,277) - (128) Trade payables (8,375) (2,213) (7,903) Other current liabilities (3,621) (3,433) (3,789) Total current liabilities (13,273) (5,646) (11,820) Non-current liabilities    Long-term financial debt (28,747) (38,615) (28,656) Other non-current liabilities - (31) - Total non-current liabilities (28,747) (38,646) (28,656)     Total liabilities (42,020) (44,291) (40,475)     Total equity (54,084) (52,743) (55,575)     Total equity and liabilities (96,104) (97,034) (96,051)

===== SIDA 15 =====

Q2 2025 | Interim Report January-June 2025   
 
15 ● cavotec.com 
Other informationForward looking statement Some statements in this report are forward-looking, and the actual outcome could be materially different. In addition to the factors explicitly discussed, other factors could have a material effect on the actual outcome. Such factors include, but are not limited to, general business conditions, fluctuations in exchange rates and interest rates, political developments, the impact of competing products and their pricing, product development, commercialization and technological difficulties, interruptions in supply, and major customer credit losses.  Annual General Meeting 2025 The Annual General Meeting 2025 took place 3 June 2025 in Lugano, Switzerland. An Extraordinary General Meeting took place on 16 July 2025 in Lugano, Switzerland. More information is available on https://ir.cavotec.com/general-meetings-cavotec-SA.  Financial calendar  Third quarter report              7 November, 2025 Fourth quarter report           20 February, 2026 Annual and Sustainability     Week that begins  Report 2025                            30 March, 2026   Webcasted presentation and telco CEO David Pagels and CFO Joakim Wahlquist will present the interim report on Friday 25 July at 10:00 am 
CEST. If you wish to participate via webcast, please use the link https://cavotec.events.inderes.com/q2-report-2025. Via the webcast you may submit written questions. If you wish to participate via teleconference, please register on the link https://events.inderes.com/cavotec/q2-report-2025/dial-in. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference. The presentation is in English.  Interim reports on cavotec.com The full report and previous interim and annual reports are available on https://ir.cavotec.com/financial-reports.  Contact person for analysts and media Joakim Wahlquist, CFO  Phone +41 91 911 4010 Email investor@cavotec.com   This is information that Cavotec SA is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication, through the agency of the contact person set out above, at 07:00 am CEST on 25 July 2025.       About Cavotec Cavotec is a leading cleantech company that designs and delivers connection and electrification solutions to enable the decarbonization of ports and industrial applications. Backed by close to 50 years of experience, our systems ensure safe, efficient and sustainable operations for a wide variety of customers and applications worldwide. To find out more about Cavotec, please visit cavotec.com.