SIGNIFICANT EVENTS DURING THE FOURTH QUARTER 2025 (OCT – DEC)

• Order intake increased significantly during the quarter and amounted to 126.8 MSEK, corresponding to an organic increase of 25.3%, giving a YOY increase of 16.6%, due to currency effects of minus 8.7%.
• During December Gulf Offshore Limited, a company controlled by the Howell family, acquired the holdings from Bure. Subsequently Gösta Johannsson decided to step down from the board at the end of December 2025
  
  SIGNIFICANT EVENTS AFTER YEAR-END
• After the end of the financial year the board called for an extraordinary general meeting for election of a new board of directors.
  
  FOURTH QUARTER 2025 (OCT – DEC)
• Order intake amounted to 126.8 (108.7) MSEK, an organic growth of 25.3%, giving an increase of 16.6% for the quarter, impacted by -8.7% currency effects.
• Net sales totaled 90.8 (86.2) MSEK, an organic growth of 17.6%, giving an increase of 5.3% impacted by -12.3% currency effects.
• Earnings before interest, tax, depreciation and amortization (EBITDA) increased to 23.0 (16.6) MSEK.
• Net income for the period reached 13.0 (2.0) MSEK.
• Earnings per share (EPS) amounted to 0.46 (0.08) SEK.
• Cash flow from operating activities totaled 1.5 (13.4) MSEK.
  
  FULL YEAR 2025 (JAN – DEC)
• Order intake amounted to 285.1 (278.9) MSEK, an organic growth of 7.9%, giving an increase of 2.2%, impacted by currency effect of -5.7%.
• The order book at the end of the period was 130.0 (138.0) MSEK, an organic growth of 3.8%, giving a decrease of -5.5%, impacted by -9.4% by currency effects.
• Net sales totaled 279.1 (290.3) MSEK, an organic growth of 3.4%, giving a decrease of 3.9% impacted by 7.3% currency effects.
• Earnings before interest, tax, depreciation, and amortization (EBITDA) amounted to 3.4 (16.6) MSEK.
• Costs related to the strategic realignment of the organization have impacted EBITDA by -7.5 MSEK and net income by -8.7 MSEK during the year. EBITDA adjusted for these costs amounted to 10.9 (24.1) MSEK.
• Net income for the period was -32.3 (-18.4) MSEK.
• Earnings per share (EPS) amounted to -1.15 (-0.72) SEK.
• Cash flow from operating activities totaled -20.3 (17.9) MSEK.
  
  CEO Frans Venker comments
  In the fourth quarter, we delivered strong results with sales growth and improved EBITDA, driven by a solid order intake. The growth is supported by the increased market activity we saw in the third quarter within the global MedTech sector combined with a healthy funnel. The series of initiatives implemented during the first half of the year also began to yield results, and I am pleased with the momentum we have in place.
  
  Our year-end results are a testament to our investments and efforts in improving the realism of our simulation equipment and the excellent customer support organization, which together place us as the top supplier globally for solutions that support Image-Guided Therapies for the Medical Device Industry.
  
  I am encouraged by the progress we have made during the year. Mentice has a competitive offering as demonstrated by the interest coming from the Medical Device Industry and the number of projects and collaborations being awarded and cocreated with our customers.
  
  Webcast presentation of the year-end report
  The Year-end Report Q4 for the period October – December 2025 will be presented by CEO Frans Venker and CFO Ulrika Drotz on February 26, 2026, at 10:00 CET. The live broadcast is followed by a Q&A moderated by Carnegie’s analyst Rikard Engberg.
  
  The presentation will be held in English.
  For more information on how to register, please visit DNB Carnegie Web cast Link.