TRESU Q3 2023 Financial Report

Machines & Units | Order intake picking up during 2024 with subsequent margin recovery Segment development (DKKm) TRESU +57% -12% 378 326 239 271 210 144 97 Order intake 2020A 2021A 2022A 2023E 2024F 2025F 2026F Backlog 113 187 237 161 201 255 308 Revenue 136 167 156 168 232 271 326 Y-o-Y growth 23% (7%) 8% 38% 17% 20% Gross profit I 35 32 24 21 22 52 66 99 87 Gross profit I-% 26% 19% 13% 13% 22% 24% 27% Comments • • . Machines & Units business plan heavily contingent on ability to rebuild order intake to DKK +250m yearly Confidence in ability to lift order intake, given increased activity in large machines where TRESU has a strong value proposition and know-how (Liquid, Folding Carton, Lottery) Following drought in order intake in past 18 months, M&U pipeline is picking up with multiple advanced discussions held across customers (including recently winning order to Zumbiel in Nov-23) Improvement in margins once negative effect from unprofitable backlog is cleared 28

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