Gothenburg                                                                                2026-02-25

Group financial overview

All amounts in kSEK	Fourth Quarter		Full year
Financial overview (Consolidated)	2025	2024	2025	2024
Net turnover	52 402	47 976	222 483	360 588
EBITDA	-2 647	-560	5 249	23 991
Earnings after financial items	-5 874	-2 157	-4 132	17 881
Balance sheet total	99 282	75 648	99 282	75 648
Equity ratio (%)	20,3%	33,0%	20,3%	33,0%
Earnings per share (SEK)	-3,07	-1,12	-2,22	8,97
Number of shares	1 576 000	1 576 000	1 576 000	1 576 000

A Year of Strategic Realignment in a Delayed Market

The full year 2025 was marked by a clear market shift within the AI sector. Following an

exceptionally strong 2024, driven by large-scale AI infrastructure deals, 2025 brought a more cautious investment climate. Several major decisions related to AI infrastructure and advanced solution projects were postponed, despite continued structural demand for AI.

• The Group’s net sales amounted to SEK 222.5 million (SEK 360.6 million).

• EBITDA amounted to SEK 5.2 million (SEK 24.0 million), and operating profit to SEK -2.2 million (SEK 18.4 million).

• Profit after financial items amounted to SEK -4.1 million (SEK 17.9 million), and net profit for the year to SEK -3.5 million (SEK 14.1 million).

• Earnings per share amounted to SEK -2.22 (SEK 8.97).

Total assets increased to SEK 99.3 million (SEK 75.6 million), primarily as a result of completed acquisitions, while the equity ratio amounted to

20.3 percent (33.0 percent).

However, this financial development should be viewed in the context of a year characterized by market maturation rather than structural decline.

Throughout 2025, international financial media and capital markets have engaged in intense discussions about a so-called “AI bubble.” Our assessment is that this narrative is largely linked to valuation levels and capital allocation strategies among major U.S. technology companies, where the most aggressive investments and highest expectations have been concentrated.

In the Nordic and European industrial markets, we see a different development. We do not see an AI bubble.We see a market entering its next phase of maturity.

The market has shifted from generative AI and experimental pilots toward measurable impact, scalability, and profitability. The conversation has moved from “What is possible?” to “What delivers tangible return?”

We also see a clear transition from generative AI toward:

• Agentic AI

• Physical and industrial AI

• Applied AI solutions integrated into operational environments

This is where Aixia holds one of its strongest positions.

Within our Applied AI / AI for Industry business area, particularly vision-based quality solutions for heavy industry, we work exclusively with solutions deployed directly into production environments and designed to deliver measurable results. All implemented solutions to date have demonstrated positive and short ROI. They are directly linked to reduced quality deviations, improved product quality, minimized production downtime, and more efficient resource utilization.

This is not experimental AI. This is industrial AI with measurable business impact.

At the same time, the broader market has strugg-led to demonstrate clear ROI and profitability improvements across large-scale AI initiatives. This has contributed to extended decision-making cycles and more selective investment processes during 2025. For us, this does not represent re-duced opportunity – but rather a shift in priorities. As the focus moves from hype to business value, the position strengthens for players capable of delivering applied solutions with measurable effect.

Applied AI continues to grow and represents a central pillar of our long-term strategy. We believe that this segment of the AI market – physical and industrial AI with clear ROI – will remain one of the most stable and structurally expanding segments in the years ahead.

CALENDAR

INTERIM REPORT Q1 2026: 2026/04/22

ANNUAL GENERAL MEETING 2025: 2026/04/16

A MESSAGE FROM THE CEO

2025 has clearly demonstrated the difference between short-term market turbulence and long-term strategic conviction.

We have navigated a period defined by geopolitical uncertainty, extended investment cycles, and a global debate on whether AI development has entered a bubble. At the same time, we have witnessed a clear shift in maturity in how AI is perceived and implemented across industries.

It is in periods like these that the distinction between hype and sustainable strategy becomes evident.

A Market Maturing – Not Retreating

During 2025, the pace of AI investments slowed in certain parts of the market, particularly in large capital-intensive projects and broad generative AI initiatives lacking a clear business model.

But the need for AI has not diminished. It has deepened.

We see the market moving from experimental generative AI toward agentic AI and physical, industrial AI – solutions integrated directly into operational workflows and delivering measurable business impact.

This is where Aixia stands strong. Our Applied AI/AI for Industry business area, including vision-based quality solutions for heavy industry, delivers concrete results with short and positive ROI. This is the type of AI now being prioritized.

Digital Sovereignty is Redefining the Playing Field

Geopolitical developments have also elevated digital sovereignty to board-level priority across Europe. Questions of data control, jurisdiction, and technological independence are no longer theoretical – they are business-critical.

In a world where U.S. dominance in technology is a structural reality, the ambition to build local capacity and strengthen European technological independence is accelerating.

Since 2007, Aixia has built precisely that:
local infrastructure, local competence, and local control – powered by global technology.

Our DNA has always been to leverage world-leading technologies while implementing them locally in Sweden and the Nordics, under Swedish and European legislation. What was once considered a niche positioning has now become strategically central. It gives us a unique position in a transformed world.

Strategic Partnerships at the Highest Level A clear testament to our technical position is our long-standing partnership with NVIDIA.

For many years, we have held the position of NVIDIA Elite Partner – a status that requires deep technical expertise, proven delivery capability, and continuous investment in advanced AI infrastructure.

During 2025, NVIDIA restructured its global partner program. In the new structure, Aixia is one of only 11 companies in Europe and one of 27 companies globally to qualify at the highest level.

This is not a symbolic title.

It is recognition of our technical excellence, our installation capability, and our ability to deliver AI infrastructure in production environments.

It strengthens our position in dialogues with major industrial players and public institutions and provides us with early access to next-generation AI technology.

Offensive Investments – Disciplined Execution
Throughout the year, we have continued to invest in local AI capacity built on the latest generation of GPU-based technology. Together with our proprietary AiQu platform, we can now offer:

• Orchestration of AI workflows

• Locally hosted LLM solutions

• A foundational platform for developing agentic AI solutions

• Secure operations under Swedish jurisdiction

At the same time, we implemented a cost-alignment program generating an annual net effect of approximately SEK 6 million, with full impact in 2026. In addition, internal AI-driven efficiency initiatives have delivered approximately SEK 1 million in annual savings.

This balance between offensive investment and financial discipline defines our work in 2025.

2026 – Structural Acceleration

We enter 2026 with a market gradually moving from uncertainty toward structure. The focus on AI sovereignty, secure infrastructure, and applied industrial AI continues to increase.

We are not changing our vision.
We are not changing our long-term strategy.
We are adjusting the pace – not the direction.

“AI – Made in Sweden” is not a marketing phrase.

It is a strategic position in a world where techno-logical autonomy is becoming decisive.

We focus locally – and act globally.

With responsibility, discipline, and strong innova-tion momentum, we continue to build Aixia for the next phase of AI development.

//

Mattias Bergkvist
CEO, Aixia Group AB (publ)

This information is information that Aixia Group AB (publ) is required to make public pursuant to the EU Market Abuse Regulation.
The information was provided by the above contact, for publication 2026-02-25.

FOR MORE I N FORMATION / 

Get in touch with the company at: 

CEO Mattias Bergkvist
Phone: 031-762 02 40
info@aixia.se
www.aixia.se

Aixia Group AB (publ)
Hälsingegatan 10
431 63 Göteborg