SP Group A/S

Announcement No. 31 /2025

10 July 2025

CVR No. 15701315

Inside information: Trading update for first half year of 2025 (preliminary figures)

SP Group experienced lower-than-expected sales and earnings in the second quarter of 2025 due to the postponement of several orders and projects during the period. The development has been impacted by ongoing geopolitical unrest, leading to increased uncertainty in global markets and disruptions in supply chains, with several of our customers postponing the launch of new projects.

Key figures for H1 2025:

• Revenue decreased by DKK 18.2 million to DKK 1,466.9 million in H1 2025 (compared to DKK 1,485.1 million in the same period last year), a decrease of 1.2%. In Q2 2025, revenue decreased by DKK 81.6 million to DKK 680.6 million (compared to DKK 762.2 million in the same period last year), a decrease of 10.7%.
• EBITDA decreased by DKK 11.1 million to DKK 291.1 million in H1 2025 (compared to DKK 302.1 million in the same period last year), a decrease of 3.7%. The EBITDA margin was 19.8%. In Q2 2025, EBITDA decreased by DKK 28.9 million to DKK 124.8 million (compared to DKK 153.7 million in the same period last year), a decrease of 18.8%. The EBITDA margin was 18.3%.
• Earnings before tax (EBT) decreased by 6.7% to DKK 164.7 million in H1 2025 (compared to DKK 176.4 million in the same period last year). The EBT margin was 11.2%. In Q2 2025, EBT decreased by 30.6% to DKK 63.6 million (compared to DKK 91.6 million in the same period last year). The EBT margin was 9.4%.

Consequently, SP Group is lowering its revenue expectations for 2025, while maintaining its guidance for profit margins:

• Revenue growth is now expected in the range of -3% to +3% (previously 3-10%) with an EBITDA margin of 19-21% (unchanged) and an EBT margin of 11-13% (unchanged)

SP Group A/S will publish its Interim Report for the first half of 2025 as scheduled on 19 August 2025.

For further information:

CEO Lars Bering

Phone: +45 70 23 23 79

www.sp-group.dk

In case of any discrepancies, the Danish version shall prevail.