Kvartalsrapport Q3 2025

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

Interim report January 1 – September 30, 2025 
 ProfilGruppen AB (publ)   
Page 1 of 11 
Interim report January 1 – September 30, 2025 
 
Continued consistency in a time of uncertainty 
  
This is a translation of the Swedish version of the report. In case of any discrepancies, the Swedish version shall prevail. 
 
Third quarter 2025 
• Net turnover MSEK 534.4 (506.6) 
• Adjusted operating profit* MSEK 24.7 (24.0) 
• Adjusted operating margin 5.0 percent (4.7), target level >14 percent for existing operations and accounting method 
• Result of starting operations in Poland MSEK -6.7 (0.0) reported separately until further notice 
• Realized result from metal position at risk MSEK 2.9 (0.7) 
• Accounting operating profit MSEK 20.9 (33.7) 
 
  Q 3 Q 3 Q 1-3 Q 1-3 
  2025 2024 2025 2024 
Net turnover, MSEK 534.4 506.6 1 887.3 1 692.3 
       
Alternative key ratios*         
Adjusted operating profit*, MSEK 24.7 24.0 140.7 124.8 
and corresponding share of net turnover (excluding the polish operations), % 5.0 4.7 7.8 7.4 
Realized result from metal position at risk*, MSEK** 2.9 0.7 -10.3 4.0 
Items affecting comparability due to timing effect, MSEK 0.0 9.0 -3.3 3.4 
Items affecting comparability due to the Polish operations, MSEK -6.7 0.0 -20.6 0.0 
       
Accounting result      
Income before depreciation (EBITDA), MSEK  43.1 56.7 173.4 201.6 
Operating profit (EBIT), MSEK  20.9 33.7 106.5 132.2 
Net income, Mkr 14.9 18.8 79.1 87.9 
Earnings per share , SEK (no dilution exists) 1.91 2.25 10.18 11.00 
          
Financial      
Net debt, MSEK - - 141.9 81.2 
EBITDA R12, MSEK - - 224.0 240.2 
Net debt/EBITDA - - 0.6 0.3 
Liquidity reserve, MSEK - - 172.3 251.7 
*Due to a change in methodology, the accounting results are not fully comparable between years. The operating profit is comparable and does not 
include calculated depreciation or the Polish operation. Definitions of key figures can be found at www.profilgruppen.se. 
** The change in value of the metal position for the period when valuing at market price was SEK 5.3 million compared to the realized SEK 2.9 million.

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

*Operating profit does not include calculated depreciations or the Polish business. 
Definitions are presented on www.profilgruppen.se 
Interim report January 1 – September 30, 2025 
ProfilGruppen AB (publ)  
Page 2 of 11 
 
CEO Mari Kadowaki comments on the first 
three quarters of 2025 
 
Market and results 
During the first three quarters of the year, the market for 
aluminum profiles has been challenging. The economic 
situation has been weak throughout Europe. The European 
industry organization notes that the extrusion sector has 
moved from a previous downward trend to a flat position 
during the year. 
In this context, our long-term and differentiated business 
portfolio has continued to deliver good stability. It shows 
resilience against, among other things, a continued weak 
construction market and delayed vehicle electrification. 
It is pleasing that during the third quarter ProfilGruppen 
achieved a delivery volume of 8,200 tonnes (7,300), which is 
roughly twelve percent higher than the same period last year. 
The main explanation for the increase is due to the Polish 
operations. 
The delivery volume for the first nine months has been   
27,550 tonnes (26,000), i.e. slightly higher than the same 
period last year despite the difficult global situation.   
Revenue for the third quarter amounted to MSEK 534.4 
(506.6). The operating profit* amounted to MSEK 24.7 (24.0), 
which corresponds to a margin of 5.0 percent (4.7), calculated 
excluding the Polish operations. Revenue during the first nine 
months amounted to MSEK 1,887.3 (1,692.3), an increase of 
approximately 12 percent. The operating profit* during the 
first nine months of the year amounted to MSEK 140.7 (124.8). 
This corresponds to a margin of 7.8 percent (7.4), calculated 
on revenue excluding the Polish operations.   
The cash flow from current operations amounted to MSEK 
18.1 (51.0), where the establishment of Poland had a negative 
impact of MSEK -65.8 (0.0) and repayment of pandemic-
related deferrals with MSEK -69.0 (-90.8). Excluding these two 
effects, the cash flow amounted to MSEK 152.9 (141.8). 
Corresponding cash flow after investment activities 
amounted to MSEK 92.4 (85.9). 
 
Profitability and stability 
We want to be able to develop attractive solutions for the 
market in the long term and offer stability. Therefore, our 
ambition is to avoid short-term profits at the expense of long-
term sustainable business and gradually move towards our 
operating margin target. Satisfied customers, expanded 
business, streamlining of our processes and price and margin 
raising measures are required. We can deliver among the 
lowest carbon dioxide emission levels in the industry. We 
continue to work with our sustainability and CSRD work to 
highlight opportunities and risks in our value chain, which are 
largely shared with our customers and suppliers. The 
investment in Poland provides an opportunity for a 
complementary range in a large market, but it also provides 
increased redundancy and cost-effective manufacturing and 
logistics concepts. 
 
 
 
 
 
 
 
 
 
Our extrusion business in Poland 
Since March, ProfilGruppen's Polish subsidiary has been 
running an extrusion and anodizing operation in Walcz with 
approx. 90 employees. The business portfolio is growing and 
currently includes just over 80 customers. The Polish 
subsidiary has been certified according to ISO 9000 and  
ISO 14000 and obtained membership in the Polish industry 
association. 
The intention is still to acquire the facility as soon as the 
reconstruction process allows and to expand operations in 
Poland. The process currently looks like it won't be 
completed until next year. The bankruptcy trustee has 
decided to put our lease agreement out to competition 
ahead of the upcoming bidding. We don't know how that will 
happen at the moment. 
As we have previously informed, we do not dispose of the 
timetable and decisions in the reconstruction procedure. The 
pricing will be determined in the ongoing bankruptcy process 
and there is still a risk that we will not succeed in the 
acquisition.   
We have planned to be able to fulfill all commitments 
without interruption, including with redundancy and support 
in capacity and competence between the factories in Sweden 
and Poland.   
ProfilGruppen has several crucial foundations in place, 
such as established customer and supplier agreements in 
both countries as well as an enterprise-wide management 
and business system to drive the business forward with full 
force if we get the opportunity.

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

*Operating profit does not include calculated depreciations or the Polish business. 
Definitions are presented on www.profilgruppen.se 
Interim report January 1 – September 30, 2025 
ProfilGruppen AB (publ)  
Page 3 of 11 
 
The use of alternative key ratios 
The purpose of using alternative key ratios and profit 
designations is to give the reader a fairer view of the 
operation’s financial development. To provide as transparent 
picture as possible, ProfilGruppen uses the term adjusted 
operating profit*. The adjusted operating profit* is the result 
of the operating activities. The metal cost in the adjusted 
operating profit is equal to the agreed cost in the customer 
contracts. 
The tables on sides 6-10 in this report are calculated in 
accordance with accounting principles given in the latest 
annual report where nothing else is noted. 
 
Turnover and deliveries in the third quarter 
The turnover for the Group in the third quarter of 2025 
amounted to MSEK 534.4 (506.6), an increase of about  
5 percent compared to the same period previous year.  
The delivery volumes were 8,200 tonnes (7,300) of 
aluminum profiles.  
During the third quarter the Group manufactured 8,300 
tonnes (7,250) of aluminium extrusions. 
 
Third quarters result based on alternative principles* 
The adjusted operating profit amounted to MSEK 24.7 (24.0), 
which corresponded to an adjusted operating margin of 5.0 
percent (4.7), where turnover from the Polish operations is 
excluded.  
The difference between adjusted operating profit and 
accounting operating profit is the realized result of metal 
position at risk MSEK 2.9 and result of the Polish operations 
of MSEK -6.7.  
 
Third quarters accounting result 
The operating profit for the third quarter of the year 
amounted to MSEK 20.9 (33.7). This is equivalent to an 
operating margin of 3.9 percent (6.7). The actual result from 
market based value of the metal position was MSEK 5.3 and 
not MSEK 2.9. 
The profit before tax amounted to MSEK 18.8 (23.7).  
Earnings per share totalled SEK 1.91 (2.25) (no dilution). 
 
Turnover and deliveries in the first nine months 
The turnover for the Group in the first nine months of 2025 
amounted to MSEK 1,887.3 (1,692.3), an increase of about 12 
percent compared to the same period previous year.  
The delivery volumes were 27,550 tonnes (26,000) of 
aluminum profiles.  
During the first nine months the Group manufactured 
27,650 tonnes (25,450) of aluminium extrusions. 
 
First nine months result based on alternative principles* 
The adjusted operating profit amounted to MSEK 140.7 
(124.8), which corresponded to an adjusted operating margin 
of 7.8 percent (7.4), where turnover from the polish 
operations is excluded.   
The difference between adjusted operating profit and 
accounting operating profit is the realized result of metal 
position at risk MSEK -10.3, reversal of earlier altered 
allocation of metal cost MSEK -3.3 and result of the polish 
operations of MSEK -20.6.  
 
 
 
 
 
 
 
 
 
 
1300
1700
2100
2500
2900
0
200
400
600
800
Q3 23 Q3 24 Q3 25
MSEK/R12MSEK/Q Turnover
Quarter Rolling 12 months
0
100
200
300
400
500
600
Q3 23 Q3 24 Q3 25
MSEK Turnover breakdown
Processed products Profiles
0
3
6
9
12
0
20
40
60
80
Q3 23 Q3 24 Q3 25
Mkr Adjusted operating profit, quarter
Adjusted operating profit, MSEK
Adjusted operating margin %
%
0
4
8
12
0
20
40
60
Q3 23 Q3 24 Q3 25
%MSEK Operating profit, quarter
Operating profit, MSEK
Operating margin, %

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

*Operating profit does not include calculated depreciations or the Polish business. 
Definitions are presented on www.profilgruppen.se 
Interim report January 1 – September 30, 2025 
ProfilGruppen AB (publ)  
Page 4 of 11 
 
First nine months accounting result 
The operating profit for the first nine months of the year 
amounted to MSEK 106.5 (132.2). This is equivalent to an 
operating margin of 5.6 percent (7.4).  
The profit before tax amounted to MSEK 99.6 (110.7) and 
earnings per share totalled SEK 10.18 (11.00) (no dilution). 
 
Investments 
Investments during the first nine months amounted to  
MSEK 66.7 (56.2), excluding changes in right-of-use assets. 
The investments mainly consist of machinery and 
equipment of MSEK 47.2, and extrusion dies of MSEK 19.5. 
 
Financing and liquidity 
Cash flow from current operations amounted to MSEK 18.1  
(51.0). Cash flow has been affected negatively by polish 
activities with MSEK -65.8 (0.0) and amortization of 
pandemic-related deferrals of collection to the amount of 
MSEK -69.0 (-90.8). Excluding these effects the cash flow 
amounted to MSEK 152.9 (141.8).  
The corresponding cash-flow after investments amounted 
to MSEK 92.4 (85.9).  
The liquidity reserve as of September 30, 2025, amounted 
to MSEK 172.3 (251.7).  
The balance sheet total as of the end of the third quarter 
was MSEK 1,467.8 (1,417.7). 
Net debt as of September 30, 2025, amounted to 
MSEK 141.9 (81.2) and net debt/EBITDA to 0.6 (0.3),.  
The calculation of the net debt does not include 
pandemic-related deferrals of MSEK 88. If the deferrals were 
included in net-debt the net debt/EBITDA would amount to 
1.0. ProfilGruppen’s target for net debt/EBITDA is < 2.0. 
The debt for the deferrals will be amortized gradually until 
2027. The future amortization is covered by the liquidity 
reserve of MSEK 172.3. 
 
Currency 
The Group has a loan in euros which amounted to MEUR 6.1 
on the balance sheet date. Of the forecasted exposure in EUR 
for 2025, 84 percent is hedged through currency forwards. 
 
Personnel 
The average number of employees in the Group during the 
first nine months was 498 (521). The number of employees as 
of September 30, 2025, totalled 488 (515). As from March 1, 
ProfilGruppen puts around 90 people to work in a Polish 
extrusion business. 
 
Risks and uncertain factors 
The initiated acquisition process in Poland may lead to that 
the investments made do not yield the desired results, but 
the risks are currently very limited. Apart from this the 
company's risks and risk management have not changed 
significantly since the description in the annual report for 
2024.  
At the end of the third quarter of 2025, the company had a 
risk-exposed metal position of approximately MSEK 96 (1). 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
0
5
10
0
50
100
150
200
Q3 23 Q3 24 Q3 25
%MSEK Operating profit, rolling 12 months
Operating profit, MSEK
Operating margin, %
0
5
10
15
20
0
2
4
6
8
Q3 23 Q3 24 Q3 25
Earnings per share, SEK
Quarter Rolling 12 months
SEK/Q SEK/R12M
0
1
2
3
Q3 23 Q3 24 Q3 25
Net Debt/EBITDA
Accounting
Target

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

*Operating profit does not include calculated depreciations or the Polish business. 
Definitions are presented on www.profilgruppen.se 
Interim report January 1 – September 30, 2025 
ProfilGruppen AB (publ)  
Page 5 of 11 
 
 
Significant events during the period 
During the third quarter, the company's CEO Mari Kadowaki 
resigned and her replacement is currently being sought. A 
recruitment process regarding the CFO is also underway 
since the current CFO resigned in September. Both have a 
notice period until March 2026. 
  
Significant events after the end of the period 
No events have occurred after the balance sheet date that 
significantly affected the company's results or financial 
position. 
 
Outlook for 2025 
ProfilGruppen does not provide a forecast. 
 
Year-end report and Annual General Meeting 
The Year-end report of 2025 will be published Thursday 
February 12, 2026, at 14:00 CET. 
The AGM 2025 will take place Tuesday April 28, 2026, at 
16:00 CET. All shareholders are then welcome to Folkets Hus 
in Åseda. The Annual Report will be available three weeks 
before the AGM, at the latest.  
The Nomination Committee for the AGM 2026 consists of 
Bengt Stillström (shareholder) as Chairman of the Committee 
and the members Lars Johansson (shareholder),  
Mats Egeholm (shareholder) and Petter Stillström (for Hanna 
Kusterer).  
Shareholders who wish to submit proposals to the 
Nomination Committee shall present their proposal as soon 
as possible. Proposals to the Nomination Committee can be 
sent by e-mail to valberedningen@profilgruppen.se, or by 
mail: ProfilGruppen AB, att: Valberedningen, Box 36,  
SE-364 21 Åseda, Sweden. 
Shareholders who wish to have a case raised at the Annual 
General Meeting may either send the proposal by e-mail to: 
styrelsen@profilgruppen.se, or by mail to: ProfilGruppen AB, 
att: Årsstämmoärenden, Box 36, SE-364 21 Åseda, Sweden. 
The proposals must be received by the company by January 
15, 2026, at the latest in order to ensure inclusion in the 
notice and the AGM agenda.

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

Interim report January 1 – September 30, 2025 
ProfilGruppen AB (publ)  
Page 6 of 11 
 
Statement of comprehensive income in short 
    Q 3 Q 3 Q 1-3 Q 1-3     
MSEK Note 2025 2024 2025 2024 R 12 2024 
Net turnover 2 534.4 506.6 1 887.3 1 692.3 2 466.8 2 271.8 
Cost of goods solds  3 -480.3 -443.9 -1 673.6 -1 462.2 -2 188.1 -1 976.7 
Gross Margin  54.1 62.7 213.7 230.1 278.7 295.1 
           
Other operating revenues    0.2 0.0 0.6 0.3 0.9 0.6 
Selling expenses   -17.9 -17.1 -60.5 -56.6 -81.9 -78.0 
Administrative expenses   -15.5 -11.9 -47.2 -40.7 -62.5 -56.0 
Other operating expenses   0.0 0.0 -0.1 -0.9 -0.1 -0.9 
Operating profit/loss  20.9 33.7 106.5 132.2 135.1 160.8 
           
Financial income   0.5 1.7 1.2 4.0 0.9 3.7 
Financial expenses 4 -2.6 -11.7 -8.1 -25.5 -14.2 -31.6 
Net financial income/expense   -2.1 -10.0 -6.9 -21.5 -13.3 -27.9 
           
Income after financial items   18.8 23.7 99.6 110.7 121.8 132.9 
           
Income tax   -3.9 -4.9 -20.5 -22.8 -30.5 -32.8 
Net income for the period  14.9 18.8 79.1 87.9 91.3 100.1 
of which attributable to:          
Owners of the parent   14.1 16.7 75.3 81.5 87.5 93.7 
Non-controlling interests   0.8 2.1 3.8 6.4 3.8 6.4 
          
Earnings per share (before and after dilution), SEK    1.91 2.25 10.18 11.00 11.84 12.67 
          
Other comprehensive income          
Net income for the period   14.9 18.8 79.1 87.9 91.3 100.1 
Hedging reserve   0.8 6.1 5.3 7.5 1.1 3.3 
Translation differences   0.2 -0.1 0.0 0.0 0.2 0.2 
Deferred tax on the above items    -0.2 -1.2 -1.1 -1.5 -0.3 -0.7 
Total items that will subsequently be reclassified to net income:  0.8 4.8 4.2 6.0 1.0 2.8 
Revaluation of defined benefit pension obligation    0.0 0.0 -0.1 0.1 -0.4 -0.2 
Total items that will subsequently not be reclassified to net income:  0.0 0.0 -0.1 0.1 -0.4 -0.2 
Total other comprehensive income    0.8 4.8 4.1 6.1 0.6 2.6 
Comprehensive income for the period    15.7 23.6 83.2 94.0 91.9 102.7 
of which total comprehensive income for the period attributable to:          
Owners of the parent   14.9 21.5 79.4 87.6 88.1 96.3 
Non-controlling interests   0.8 2.1 3.8 6.4 3.8 6.4 
 
Statement of financial position in short 
    30 Sep 30 Sep 31 Dec 
MSEK Note 2025 2024 2024 
Assets      
 Intangible fixed assets   10.0 10.0 10.0 
 Tangible fixed assets   591.1 589.9 587.1 
 Right of use assets   15.9 24.0 22.0 
 Financial fixed assets   0.9 0.8 0.9 
Deferred tax assets   0.3 0.3 0.4 
Total fixed assets  618.2 625.0 620.4 
      
 Inventories   376.9 369.4 352.1 
 Current receivables 5 416.2 374.2 316.7 
 Liquid assets   56.5 49.1 68.7 
Total current assets   849.6 792.7 737.5 
Total assets  1 467.8 1 417.7 1 357.9 
      
Shareholders’ equity      
Total equity attributable to the parent Company´s shareholders    699.0 648.9 657.6 
Non-controlling interests   16.3 16.7 16.7 
Total equity  715.3 665.6 674.3 
      
Liabilities      
 Interest-bearing liabilities   77.3 99.9 94.8 
 Interest-free liabilities   93.8 89.5 93.5 
Total long-term liabilities  171.1 189.4 188.3 
      
 Interest-bearing liabilities and provisions   121.1 30.4 30.5 
 Interest-free liabilities 5 460.3 532.3 464.8 
Total short-term liabilities   581.4 562.7 495.3 
Total shareholders’ equity and liabilities   1 467.8 1 417.7 1 357.9

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

Interim report January 1 – September 30, 2025 
ProfilGruppen AB (publ)  
Page 7 of 11 
 
Statement of changes in equity in short 
    Q 3 Q 3 Q 1-3 Q 1-3   
MSEK   2025 2024 2025 2024 2024 
Opening balance, total equity   699.6 648.9 674.3 615.5 615.5 
Changes attributable to owners of the parent:           
Comprehensive income for the period   14.9 21.5 79.4 87.6 96.3 
Changes attributable to non-controlling interests:          
Comprehensive income for the period  0.8 2.1 3.8 6.4 6.4 
Transactions with shareholders          
Dividend   0.0 -6.9 -42.2 -43.9 -43.9 
Closing balance, total equity  715.3 665.6 715.3 665.6 674.3 
 
Statement of cash flows in short 
    Q 3 Q 3 Q 1-3 Q 1-3     
MSEK Note 2025 2024 2025 2024 R 12 2024 
Operating activities          
Income after financial items   18.8 23.7 99.6 110.7 121.8 132.9 
Depreciation and write-down   22.2 23.0 66.9 69.4 88.9 91.4 
Adjustment for other non-cash items   0.0 12.8 13.4 25.7 20.8 33.1 
Interest received/paid   -3.7 -4.3 -13.4 -12.0 -20.1 -18.7 
Paid income tax   0.4 -5.4 -24.3 -24.5 -17.5 -17.7 
Cash flow prior to change in working capital   37.7 49.8 142.2 169.3 193.9 221.0 
          
Inventories   -7.4 -23.0 -27.1 8.3 -9.8 25.6 
Operating receivables   37.7 9.3 -96.4 -60.3 -48.4 -12.3 
Operating liabilities   -80.3 -83.7 -0.6 -66.3 -78.6 -144.3 
Cash flow from operating activities   -12.3 -47.6 18.1 51.0 57.1 90.0 
          
Acquisition of property. plant and equipment    -13.6 -27.8 -61.7 -55.9 -72.0 -66.2 
Sale of property, plant and equipment   0.0 0.0 0.0 0.0 0.0 0.0 
Cash flow from investing activities   -13.6 -27.8 -61.7 -55.9 -72.0 -66.2 
          
Dividend   0.0 -6.9 -42.2 -43.9 -42.2 -43.9 
Loans raised   0.0 0.0 0.0 0.0 0.0 0.0 
Change in bank overdraft facility utilized   51.4 0.0 94.8 0.0 94.8 0.0 
Repayment of loans   -4.1 -4.7 -12.3 -14.0 -17.0 -18.7 
Repayment of lease debts   -3.4 -3.3 -8.8 -9.3 -13.1 -13.6 
Cash flow from financing activities    43.9 -14.9 31.5 -67.2 22.5 -76.2 
Cash flow for the period  18.0 -90.3 -12.1 -72.1 7.6 -52.4 
          
Liquid assets, opening balance   38.5 141.0 68.7 120.9 49.1 120.9 
Translation differences in liquid assets   0.0 -1.6 -0.1 0.3 -0.2 0.2 
Liquid assets, closing balance  56.5 49.1 56.5 49.1 56.5 68.7 
Liquidity reserve     172.3 251.7  273.2

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

Interim report January 1 – September 30, 2025 
ProfilGruppen AB (publ)  
Page 8 of 11 
 
The parent company 
The turnover of the parent company amounted to MSEK 30.9 
(31.6) and comprises payments for rents from companies in 
the Group. Income after financial items amounted to MSEK 
36.7 (39.2).  
Investments in the parent company during the first three 
quarters amounted to MSEK 2.6 (0.8) and are related to 
investments in properties.  
The parent company employs none (none). The parent 
company’s risks and uncertain factors do not significantly 
differ from the Group as the business consists of renting 
properties to group companies. 
 
 
 
Income statement in short – the parent company 
    Q 3 Q 3 Q 1-3 Q 1-3   
MSEK Note 2025 2024 2025 2024 2024 
Turnover  7 10.3 10.5 30.9 31.6 42.2 
Real estate costs   -1.9 -2.2 -6.2 -6.1 -8.5 
Gross Margin  8.4 8.3 24.7 25.5 33.7 
         
Other operating revenues   0.0 0.0 0.0 0.0 0.0 
Administrative expenses   -1.0 -0.9 -3.4 -3.0 -3.9 
Operating income   7.4 7.4 21.3 22.5 29.8 
         
Result from shares in group companies   0.0 16.2 12.3 16.2 80.2 
Interest income and similar income and expense items  1.0 0.7 3.5 0.7 2.9 
Interest expenses and similar income and expense items  0.0 0.0 -0.4 -0.2 -0.2 
Income after financial items   8.4 24.3 36.7 39.2 112.7 
         
Appropriations   0.0 0.0 0.0 0.0 3.6 
Income before tax  8.4 24.3 36.7 39.2 116.3 
         
Income tax   -1.7 -1.6 -5.0 -4.7 -7.9 
Net income for the period  6.7 22.7 31.7 34.5 108.4 
         
Parent company statement of comprehensive income         
Net income for the period   6.7 22.7 31.7 34.5 108.4 
Items that will subsequently be reclassified to net income:  0.0 0.0 0.0 0.0 0.0 
Items that will subsequently not be reclassified to net income  0.0 0.0 0.0 0.0 0.0 
Comprehensive income for the period    6.7 22.7 31.7 34.5 108.4 
 
Balance sheet in short – the parent company 
    30 Sep 30 Sep 31 Dec 
MSEK Note 2025 2024 2024 
Assets      
Tangible assets      
Tangible fixed assets   170.3 175.0 173.2 
Financial assets (shares in subsidiaries)   90.5 87.9 87.9 
Total fixed assets  260.8 262.9 261.1 
      
      
Current receivables   142.7 80.5 154.9 
Cash and bank balances   0.0 0.0 0.0 
Total current assets   142.7 80.5 154.9 
Total assets  403.5 343.4 416.0 
      
      
Equity   316.4 247.8 321.7 
Untaxed reserves   75.4 79.0 75.4 
Provisions for taxes   3.8 3.8 3.8 
Long-term liabilities   0.0 0.0 0.0 
Current liabilities   7.9 12.8 15.1 
Total equity and liabilities  403.5 343.4 416.0

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

Interim report January 1 – September 30, 2025 
ProfilGruppen AB (publ)  
Page 9 of 11 
 
Notes 
 
Note 1 - Accounting Principles 
The interim report has been prepared in accordance with IAS 34 Interim Financial Reporting. The parent company accounting has 
been prepared in accordance with the Swedish Annual Accounts Act (ÅRL) and the Swedish Financial Reporting Standards Council’s 
RFR 2 Accounting for Legal Entities. The accounting principles applied are identical to the ones used for the latest annual report with 
the exception of valuation of metal in stock. The method of calculating the acquisition value of inventories regarding commodities 
attributable to specific customer orders has changed from 1 January 2025, from first-in-first-out-principle to customer specific costs 
according to IAS 2:23. This method reflects the Group’s way of doing business better.  New or amended standards that came into 
effect in 2025 have not had any impact on the Group’s reporting.  
 
Note 2 - Revenue by market  
  Q 3 Q 3 Q 1-3 Q 1-3 12 mån   
MSEK 2025 2024 2025 2024 rullande 2024 
Sweden 238.7 228.6 834.0 750.3 1 090.9 1 007.2 
Germany 90.5 111.8 388.1 372.7 515.8 500.4 
Others 205.2 166.2 665.2 569.3 860.1 764.2 
Total 534.4 506.6 1 887.3 1 692.3 2 466.8 2 271.8 
 
 Note 3 - Depreciation and write-down of fixed assets  
  Q 3 Q 3 Q 1-3 Q 1-3     
MSEK 2025 2024 2025 2024 R 12 2024 
Intangible fixed assets 0.0 0.9 0.0 3.9 0.0 3.9 
Land and buildings 1.7 1.7 5.0 5.0 6.7 6.7 
Machinery and equipment 17.2 17.1 52.0 50.3 69.0 67.3 
Right of use assets 3.3 3.3 9.9 10.2 13.2 13.5 
Total 22.2 23.0 66.9 69.4 88.9 91.4 
of which write-down  0.0 0.0 0.0 0.0 0.0 0.0 
 
 Note 4 - Financial expenses  
  Q 3 Q 3 Q 1-3 Q 1-3     
MSEK 2025 2024 2025 2024 R 12 2024 
Interest expenses to financial institutions  1.2 2.1 4.1 6.2 5.0 7.1 
Unrealized exchange rate revaluation of financial items (gain neg, loss pos)  -0.6 -0.5 -3.1 1.8 -1.6 3.3 
Cost for pandemic suspension of collection*  1.1 8.9 3.4 14.0 5.2 15.8 
Other financial expenses 0.9 1.2 3.7 3.5 5.6 5.4 
Total 2.6 11.7 8.1 25.5 14.2 31.6 
 
Note 5 - Financial instruments, valued at fair value in statement of financial position  
  30 Sep 30 Sep 31 Dec  
MSEK 2025 2025 2024  
Short-term receivables:        
Currency derivatives 5.3 5.0 1.6  
Short-term non interest-bearing liabilities;        
Currency derivatives 0.1 0.9 1.7  
Currency derivatives are used for hedge and are valued on level 2 according to IFRS 13.        
        
Forward contracts foreign exchange        
Hedged future cash flows, MEUR 20.3 26.2 26.7  
Notional amount 230.2 298.5 305.5  
Last maturity date of concluded forward contracts 2026-12-17 2026-12-15 2026-12-15  
 
Note 6 - Pledged assets and contingent liabilities  
  30 Sep 30 Sep 31 Dec  
MSEK 2025 2024 2024  
Property mortgages 82.9 82.9 82.9  
Floating charges 440.0 440.0 440.0  
Shares in subsidiaries 393.2 394.3 381.8  
Guarantee commitments pensions 0.3 0.3 0.3  
 
Note 7 – Related transactions  
During the period no related transactions that significantly affect the Groups result or financial statement have been made, apart 
from customary payments of directors’ fees, remuneration of senior executives, dividend and the rents from companies in the Group 
to the parent company.

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

Interim report January 1 – September 30, 2025 
ProfilGruppen AB (publ)  
Page 10 of 11 
 
Key ratios       
  Q 3 Q 3 Q 1-3 Q 1-3     
The Group 2025 2024 2025 2024 R 12 2024 
Net turnover, MSEK 534.4 506.6 1 887.3 1 692.3 2 466.8 2 271.8 
Income before depreciation, MSEK 43.1 56.7 173.4 201.6 224.0 252.2 
Operating income/loss, MSEK 20.9 33.7 106.5 132.2 135.1 160.8 
Operating margin, % 3.9 6.7 5.6 7.8 5.5 7.1 
Income after financial items, MSEK 18.8 23.7 99.6 110.7 121.8 132.9 
Profit margin, % 3.5 4.7 5.3 6.5 4.9 5.8 
              
Return on equity, % 8.5 11.4 15.2 18.3 13.2 15.5 
Return on capital employed, % 9.1 13.0 16.1 20.0 14.9 17.9 
Cash flow from operating activities, MSEK  -12.3 -47.6 18.1 51.0 57.1 90.0 
Investments, MSEK 24.9 23.5 66.7 56.2 82.3 71.8 
              
Liquidity reserve, MSEK - - 172.3 251.7 - 273.2 
Net debt, MSEK - - 141.9 81.2 - 56.6 
Net debt/EBITDA - - 0.6 0.3 - 0.2 
Interest-bearing liabilities and interest-bearing provisions, MSEK - - 198.4 130.3 - 125.3 
Net debt/equity ratio - - 0.2 0.1 - 0.1 
              
Total assets, MSEK - - 1 467.8 1 417.7 - 1 357.9 
Equity ratio, % - - 48.7 46.9 - 49.7 
Capital turnover - - 2.9 2.9 2.9 2.9 
Proportion of risk-bearing capital, % - - 55.1 53.3 - 56.5 
Interest coverage ratio 16.3 12.7 25.4 19.0 25.1 19.6 
              
Average number of employees 501 518 498 521 499 515 
Net turnover per employee (average), TSEK  1 067 978 3 790 3 248 4 943 4 411 
Income after fin, per employee (average), TSEK  38 46 200 213 244 258 
              
Average number of shares, thousands (no dilution)  7 399 7 399 7 399 7 399 7 399 7 399 
Number of shares, end of period, thousands  7 399 7 399 7 399 7 399 7 399 7 399 
Earnings per share, SEK 1.91 2.25 10.18 11.00 11.84 12.67 
Equity per share, SEK - - 94.47 87.71 - 88.88 
              
Alternative key ratios*             
Adjusted operating profit/loss, MSEK * 24.7 24.0 140.7 124.8 167.9 152.0 
Adjusted operating margin,% * 5.0 4.7 7.8 7.4 7.0 6.7 
       
* Key ratios with realized result of metal position at risk and excluding non -comparable items. 
For definition and reconciliation please visit www.profilgruppen.se.  
 
 
The key ratios above are a summary of the financial report to give an overview of ProfilGruppen’s financial position. Definitions and reconciliation of 
the alternative performance measures are given at www.profilgruppen.se. Net debt does not include pandemic-related deferrals to the amount of 
MSEK 88. In calculation of interest coverage ratio is only interest expenses to financial institutions used. 
 
Rounding differences may occur. When calculating key ratios: return on equity, return on capital employed and capital turnover have the result and 
turnover for the period been adjusted upward to 12 months. The key ratios presented are for the total Group and based on the Group consolidated 
figures including non-controlling interest, except Earnings per share, Total earnings per share and Equity per share. 
 
This report has been prepared in accordance with IAS 34 Interim reporting, respectively good accounting practices and in accordance with the IFRS 
regulations. 
 
The Board of Directors and the CEO assure that the interim report provides a fair overview of the parent company's and the group's operations, 
position and results, and describes significant risks and uncertainties that the parent company and the companies included in the group face. 
 
Åseda, October 21, 2025 
ProfilGruppen AB (publ). Org. No. 556277-8943 
 
 
 
Mari Kadowaki   
President and CEO

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

Interim report January 1 – September 30, 2025 
ProfilGruppen AB (publ)  
Page 11 of 11 
 
THIS IS A TRANSLATION FROM THE SWEDISH ORIGINAL  
 
Report on Review of Interim Financial Information  
 
To the Board of Directors of ProfilGruppen AB (publ) 
Company registration number 556277-8943 
 
Introduction 
We have reviewed the accompanying balance sheet of ProfilGruppen AB (publ) as of September 30, 2025 and the related statements 
of income, changes in equity and cash flows for the nine-month period then ended, and a summary of significant accounting policies 
and other explanatory notes. Management is responsible for the preparation and fair presentation of this interim financial 
information in accordance with IAS 34 and the Swedish Annual Accounts Act. Our responsibility is to express a conclusion on this 
interim financial information based on our review. 
 
Scope of Review 
We conducted our review in accordance with International Standard on Review Engagements 2410, “Review of Interim Financial 
Information Performed by the Independent Auditor of the Entity.” A review of interim financial information consists of making 
inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. 
A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and 
consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified 
in an audit. Accordingly, we do not express an audit opinion. 
 
Conclusion 
Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim financial 
information does not give a true and fair view of the financial position of the entity as at September 30, 2025, and of its financial 
performance and its cash flows for the ninemonth period then ended in accordance with IAS34 and the Swedish Annual Accounts 
Act, regarding the Group, and with the Swedish Annual Accounts Act, regarding the Parent Company. 
 
21st of October 2025, Stockholm 
Grant Thornton Sweden AB 
 
Joakim Söderin 
Authorized Public Accountant

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

Interim report January 1 – September 30, 2025 
ProfilGruppen AB (publ)  
Page 12 of 11 
 
Brief facts about ProfilGruppen 
• ProfilGruppen is a solution partner for aluminum profiles and components in Northern Europe 
• A partnership with ProfilGruppen should be uncomplicated and involve personal commitment 
• Customer benefit is created through a wide range of services, for example in logistics, warehousing and various delivery service concepts. 
• Aluminium is our choice, it is more favorable in a life cycle perspective than many alternatives and enables us to create sustainable 
products 
• Aluminium extrusions are used within many industries, for example furnishings, construction, automotive and electronics  
• The manufacturing of extrusions mainly takes place in Åseda, but increases gradually in Polish Walcz and includes: 
• Four production lines for extrusion of aluminium in Åseda and four in Walcz 
• Anodizing facility for surface treatment in Åseda and Walcz 
• Further processing of aluminium extrusions in the form of cutting processing, bending and stamping in Åseda  
• Fully automated facilities for processing, coating and packaging of interior design details in Åseda 
• A dozen subcontractors broadens the range of processing possibilities 
• The company is certified in accordance with IATF 16949, ISO 14001 and ISO 45001 and the industry’s own sustainability standard 
Aluminium Stewardship Initiative Performance Standard  
• Started in 1981 in Åseda, Sweden 
• Listed on the Stockholm Stock Exchange in 1997 and is included in the Small Cap list 
 
 
 
 
 
 
 
 
 
 
For more information, please contact 
Mari Kadowaki, President and CEO 
Tel: +46 (0)70-956 80 01 
mari.kadowaki@profilgruppen.se 
  
 
Johan Löfmark, CFO 
Tel: +46(0)70–715 53 16 
johan.lofmark@profilgruppen.se  
 
 
 
 
Current information and photographs for free publication are available at www.profilgruppen.se