Munters (MTRS) Investor presentation summary

Business overview and performance

• Global leader in energy-efficient climate solutions with operations in over 25 countries and ~5,000 employees.

• Operates through three business areas: AirTech, Data Center Technologies (DCT), and FoodTech.

• FY 2025 net sales reached SEK 14,712 million, with AirTech contributing 51%, DCT 37%, and FoodTech 12%.

• Adj. EBITA margin for FY 2025 was 12.7%, with a stable leverage ratio and improved operating working capital.

• Strong cash flow from operations, but net income and margins declined due to tariffs, lower volumes, and restructuring costs.

Market and segment highlights

• AirTech saw stable order intake but lower sales and margins, impacted by weak battery market and underutilization.

• DCT experienced record order intake, driven by hyperscaler and colocator demand, especially in the Americas.

• FoodTech achieved strong growth in controllers and recurring SaaS revenue, with stable order intake and robust margins.

• Regional trends: Americas led growth in DCT, EMEA faced mixed demand, and APAC showed improvement in select segments.

Strategic initiatives and M&A

• Multiple acquisitions and investments across all business areas, including Geoclima (Italy), Hotraco (Netherlands), and InoBram (Brazil).

• Focus on expanding technology, digital, and service capabilities, with structured M&A and integration processes.

• Strategic cost-saving and efficiency measures in AirTech, targeting annual net savings of SEK 250-300 million by end of 2026.