Profitability, financial position and cash flow
The return on equity at the end of the period was 29 percent (28) and return on capital employed was 22 percent (22). Return on working capital P/WC (EBITA in relation to working capital) amounted to 77 percent (72).

At the end of the period the equity ratio amounted to 38 percent (36). Equity per share, excluding non-controlling interest, totalled SEK 24.95 (22.55). The Group's net debt at the end of the period amounted to SEK 5,411 million (5,391), excluding pension liabilities of SEK 263 million (271). The net debt/equity ratio, calculated on the basis of net debt excluding provisions for pensions amounted to 0.8 (0.8).

Cash and cash equivalents consisting of cash and bank equivalents and approved but non-utilised credit facilities amounted to SEK 2,774 million (1,948) at 30 September 2025. 

Cash flow from operating activities amounted to SEK 1,336 million (1,195) during the period. Company acquisitions and disposals including settlement of contingent consideration regarding acquisitions implemented in previous years amounted to SEK 411 million (865). Investments in non-current assets totalled SEK 75 million (122) and disposal of non-current assets amounted to SEK 3 million (16). Repurchase of call options amounted to SEK 71 million (73). Exercised and issued call options totalled SEK 5 million (11). During the second quarter, dividend of SEK 3.20 (2.80) per share was paid, totalling SEK 864 million (755).

Employees
At the end of the period, the number of employees was 4,650 compared to 4,470 at the beginning of the financial year. During the period, completed acquisitions resulted in an increase of the number of employees by 132. The average number of employees in the latest twelve month period was 4,495.

Ownership structure
At the end of the period the share capital amounted to SEK 51.1 million.

In accordance with a resolution of the August 2025 AGM, about 150 members of management were offered the opportunity to acquire 1,000,000 call options on repurchased Class B shares. In total, 761,575 options were subscribed for. Addtech has four outstanding call option programmes for a total of 2,431,180 shares. Call options issued on repurchased shares entail a dilution effect of about 0.1 percent during the latest twelve month period. Addtech's own shareholdings fully meet the needs of the outstanding call option programmes.

Acquisitions and disposal
During the period, 1 April to 30 June 2025 the following acquisitions were completed; AMP Power Protection Ltd., Great Britain, was acquired to become part of the Electrification business area. Novatech Analytical Solutions Inc., Canada was acquired to become part of the Process Technology business area. 

On 25 September innovatek OS GmbH, Germany, was acquired to become part of the Electrification business area. Innovatek develops and produces customized cooling systems for industrial applications. The company's products and solutions, which also include control- and monitoring technology, are primarily sold to customers in E-mobility, Medical Technology, and Microscopy. The company has 52 employees and sales of around EUR 12 million.

The purchase price allocation calculations for the acquisitions completed during the period 1 April - 30 September 2024 have now been finalised. No significant adjustments have been made to the calculations. Acquisitions completed as of the 2024/2025 financial year are distributed among the Group’s business areas as follows:

If all acquisitions which have taken effect during the period had been completed on 1 April 2025, their impact would have been an estimated SEK 220 million on Group net sales, about SEK 22 million on operating profit and about SEK 15 million on profit after tax for the period. 

Addtech normally employs an acquisition structure comprising basic purchase consideration and contingent consideration. The outcome of contingent purchase considerations is determined by the future earnings reached by the companies and is subject to a fixed maximum level. Of considerations not yet paid for acquisitions during the period, the discounted value amounts to SEK 97 million. The contingent purchase considerations fall due for payment within two years and the outcome is subject to a maximum of SEK 114 million. 

Transaction costs for acquisitions that resulted in an ownership transfer during the period amounted to SEK 8 million (14) and are reported under Selling expenses. 

Revaluation of contingent consideration had a positive net effect of SEK 21 million (-11) during the period. The impact on profits is reported under Other operating income and Other operating expenses, respectively.

According to the preliminary acquisitions analyses, the assets and liabilities included in the acquisitions were as follows, during the period:

Parent Company
Parent Company's net sales during the period amounted to SEK 57 million (55) and profit after financial items was SEK -16 million (21). Net investments in non-current assets were SEK 0 million (0). The Parent Company's financial net debt was SEK 99 million (119) at the end of the period.