Semiconductor industry

“We utilize third-party wafer foundries to fabricate the silicon wafers for all of our products. We rely on Taiwan Semiconductor Manufacturing Company Limited (TSMC) for the production of all wafers for microprocessor and GPU products at 7 nanometer (nm) or smaller nodes, and we rely primarily on GLOBALFOUNDRIES Inc.”

Annual report 2025A · The company itself

“(GF) for wafers for microprocessor and GPU products manufactured at process nodes larger than 7 nm.”

Annual report 2025A · The company itself

“We also utilize TSMC, United Microelectronics Corporation (UMC) and Samsung Electronics Co., Ltd. for our integrated circuits (IC) in the form of programmable logic devices.”

Annual report 2025A · The company itself

“Table of Contents We do not have long-term commitment contracts with some of our third-party manufacturing suppliers. We obtain many of these manufacturing services on a purchase order basis and these manufacturers are not required to provide us with any specified minimum quantity of product beyond the quantities in an existing purchase order. Accordingly, we depend on these suppliers to allocate to us a portion of their manufacturing capacity sufficient to meet our needs, to produce products of acceptable quality and at acceptable manufacturing yields and to deliver those products to us on a timely basis and at acceptable prices.”

Annual report 2025A · The company itself

“We are party to a wafer supply agreement with GF where GF will provide a minimum annual capacity allocation to us and set pricing through 2026. If our actual wafer requirements are less than the number of wafers required to meet the applicable annual wafer purchase target, we could have excess inventory or higher inventory unit costs, both of which may adversely impact our gross margin and our results of operations.”

Annual report 2025A · The company itself

“We are party to two ATMP joint ventures (collectively, the ATMP JVs) with affiliates of Tongfu Microelectronics Co., Ltd. The majority of our ATMP services are provided by the ATMP JVs and there is no guarantee that the ATMP JVs will be able to fulfill our long-term ATMP requirements. If we are unable to meet customer demand due to fluctuating or late supply from the ATMP JVs, it could result in lost sales and have a material adverse effect on our business.”

Annual report 2025A · The company itself

“Order volumes for vacuum equipment to the semiconductor and flat panel industry increased, driven by strong development in Asia and a somewhat increased order intake in Europe.”

Annual report 2024A · The company itself

“The order intake in North America decreased 4% in local currencies. Order volumes for industrial compressors, and gas and process compressors, decreased, particularly for the latter part of the year. The order intake for vacuum equipment decreased markedly, driven primarily by lower demand from the semiconductor industry.”

Annual report 2024A · The company itself

“The order intake for vacuum equipment increased, driven by higher demand from the semiconductor and flat panel industry.”

Annual report 2024A · The company itself

“The Vacuum Technique business area provides vacuum products, exhaust management systems, valves and related products, and service through a global network.”

Annual report 2024A · The company itself

“During fiscal year 2025, approximately 95% of the wafers manufactured by our CMs were produced by TSMC. We believe our wafer requirements represent a meaningful portion of TSMC’s total production capacity.”

Annual report 2025A · The company itself

“Our semiconductor products require wafer manufacturers with state-of-the-art fabrication equipment and techniques, and most of our products are designed to be manufactured in a specific process, typically at one particular fab or foundry, either our own or with a particular CM.”

Annual report 2025A · The company itself

“To meet these requirements, semiconductor manufacturers are adopting vertical scaling approaches, including three-dimensional (“3D”) architecture, more sophisticated patterning schemes, new materials, and advanced integration approaches, as traditional two-dimensional scaling is becoming more challenging. These technology inflections are increasing manufacturing complexity and precision requirements in the production of semiconductors driving demand for our advanced semiconductor fabrication technologies and services.”

Annual report 2026A · The company itself

“For more than 25 years, the primary driver of technology advancement in the semiconductor industry has been to shrink the lithography that prints the circuit design on semiconductor chips. That driver could be approaching its technological limit, leading semiconductor manufacturers to investigate more complex changes in multiple technologies in an effort to continue technology development.”

Annual report 2026A · The company itself

“We are a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry.”

Annual report 2026A · The company itself

“Our customer base includes leading semiconductor memory, foundry, and integrated device manufacturers (“IDMs”) that make products such as non-volatile memory (“NVM”), dynamic random-access memory (“DRAM”), and logic devices.”

Annual report 2026A · The company itself

“The Chinese provincial and local governments have also provided, and may continue to provide, various incentives to encourage the development of the semiconductor industry in China. Such incentives include cash awards, tax rebates, reduced tax rates, favorable lending policies and other measures, some or all of which may be available to our manufacturing partners, suppliers and us.”

Annual report 2025A · The company itself

“Historically, the semiconductor industry has been highly cyclical and, at various times, has experienced significant downturns and wide fluctuations in supply and demand. Certain segments of the semiconductor market may experience significant downturns while other segments could be growing. These conditions have caused significant variances in product demand and production capacity, as well as rapid erosion of average selling prices, which have resulted, and could in the future result, in lower demand for our products, downward pressure on the price of our products, and/or increased inventory due to our customers’ delayed production schedule.”

Annual report 2025A · The company itself

“In addition, from time to time, governments may provide subsidies or make other investments that could give competitive advantages to competing semiconductor companies. For example, in August 2022, the U.S. enacted the CHIPS Act, which, among other things, provides funding to increase domestic production and research and development in the semiconductor industry. Because we operate a fabless business model, we are not eligible for such investments. Many of our competitors benefit from these and other investments, which helps increase their production capacities, shorten their lead times and gain market share.”

Annual report 2025A · The company itself

“Inom halvledarsegmentet har vi konstaterat en successiv förbättring av efterfrågan under hela 2024, vilken vi bedömer kommer att fortsätta även under 2025. > NIBE ELEMENT > ÅRSREDOVISNING 2024 NIBE INDUSTRIER AB · 43 · Vår verksamhet Vår verksamhet fortsätter att påverkas positivt av utvecklingeninomenergi-ochmiljöområdet.Denna utveckling driver vår affär som riktas mot behovet av att göra slutprodukterna mer energieffektiva och anpassade till ökade krav på minskad klimatpåverkan. Dettaärisynnerhet aktuelltibranscher somocksåärinriktadepåhållbarutvecklingsåsom vindkraft, värmepumpar, spårbundna transporter samt el- och hybridfordon. I takt med att kraven på ökad energieffektivitet, drivet av nya lagar och direktiv, kan nu också kategorin traditionella vitvaru-ochhushållsmaskineradderastilldessatyp avprodukter. Ävendenpågåendedigitaliseringenärenpåtaglig drivkraft,bådevadgällerfunktionivåralösningaroch efterfråganinomhalvledarindustrin. Vår inriktning mot att öka vårt förädlingsvärde genomattocksålevereraintelligentstyrningtillvåra produkterharhaftenfortsattstarkutvecklingunder året. Detta gäller flera viktiga marknadssegment så somhalvledar-ochfordonsindustrinsamtbranscher förolikaformeravenergilösningar.”

Annual report 2024A · The company itself

“NIBE ELEMENT ledare.Långsiktigtharbranschenenstarkutveckling men med avsevärda cykliska svängningar som inte följerdentraditionellaindustrikonjunkturen.Efteren mycketstarkutvecklingibörjanav2020-taletinförde USA nya handelsrestriktioner avseende teknikexport tillKina,vilketkortsiktigtpåverkarefterfrågan negativt. Detta kommerpå sikt att kompenserasav ökad efterfrågan kopplat till investeringar i nya produktionsenheteribådeNordamerikaochEuropasamtnya applikationsområden.”

Annual report 2024A · The company itself

“Due to the advanced, capital-intensive technologies required for semiconductor fabrication that only a few suppliers, like TSMC and Global Foundries, can provide, Nordic is limited in its choice of wafer suppliers. Additionally, Nordic’s strict performance and reliability standards for critical applications further narrow the pool of qualified suppliers. As such, the key action for reducing emissions from purchased goods and services (approximately 80% of total emissions) is to engage with our outsourced manufacturing suppliers, who have the largest impact on our GHG emissions.”

Annual report 2024A · The company itself

“As Nordic´s first product to be fabricated using a 22-nanometer wafer process node, the nRF54 Series represent a significant advancement bringing key advantages such as improved performance and even lower power consumption. This manufacturing process also allows Nordic to source wafers from two fabricators, TSMC and Global Foundries, positioning the company for additional supply chain resilience moving forward.”

Annual report 2024A · The company itself

“Our ability to compete successfully in the highly competitive semiconductor industry depends on elements both within and outside of our control. We face significant competition within each of our product lines from major global semiconductor companies as well as smaller companies focused on specific market niches.”

Annual report 2025A · The company itself

“The primary foundry suppliers for our various digital, analog/mixed-signal, RF and PM integrated circuits include Taiwan Semiconductor Manufacturing Company (TSMC), Samsung Electronics and Global Foundries.”

Annual report 2025A · The company itself

“Our primary semiconductor assembly and test suppliers are Advanced Semiconductor Engineering, Amkor Technology, Siliconware Precision Industries and STATSChipPAC. The majority of our foundry and semiconductor assembly and test suppliers are located in the Asia-Pacific region.”

Annual report 2025A · The company itself

“Other than for certain of our RFFE modules and RF filter products, QCT utilizes a fabless production model, which means that we do not own or operate foundries for the production of silicon wafers from which our integrated circuits are made. Therefore, we primarily rely on third parties to perform the manufacturing and assembly, and most of the testing, of our integrated circuits based primarily on our proprietary designs and test programs.”

Annual report 2025A · The company itself

“QCT primarily uses internal fabrication facilities to manufacture certain RFFE modules and RF filter products, and our manufacturing operations consist of front-end and back-end processes. The front-end processes primarily take place at manufacturing facilities located in Germany and Singapore and involve the imprinting of substrate wafers with the structure and circuitry required for the products to function (also known as wafer fabrication).”

Annual report 2025A · The company itself

“Stark konkurrens från en eller flera av koncernens konkurrenter kan leda till ökat tryck att sänka koncernens priser, ökade försäljnings- och marknadsföringskostnader och förlust av marknadsandelar. Därtill finns en risk att konkurrerande metoder och produkter kan visa sig vara mer effektiva, säkrare eller billigare än de som Sivers Semiconductors har utvecklat.”

Annual report 2024A · The company itself

“More than 70% of IT products are sourced from reliable Strategic and Gold partners who comply with relevant EU directives, are registered with EPEAT®, ISO certified, and include third-party verification of environmental criteria set by EU Regulation.”

Annual report 2024A · The company itself

“Produktionen af instrumenter og forbrugsvarer sker i overensstemmelse med kundernes og slutbrugernes krav og standarder. produktionslinjer, da den manuelle pakning af poser i æsker nu bliver fuldautomatiseret. Sikring af produktkvalitet har særdeles høj prioritet i ChemoMetec.”

Annual report 2025A · The company itself

“•Our Imaging & Identification segment supplies precision marking and coding, product traceability, brand protection and digital textile printing equipment, as well as related consumables, software and services to the global packaged and consumer goods, pharmaceutical, industrial manufacturing, textile and other end-markets. •Our Pumps & Process Solutions segment manufactures specialty pumps and flow meters, fluid transfer connectors, highly engineered precision components, instruments and digital controls for rotating and reciprocating machines, polymer processing equipment, measurement, inspection, and control technologies, serving single-use biopharmaceutical production, diversified industrial manufacturing applications, chemical production, plastics and polymer processing, midstream and downstream oil and gas, clean energy markets, thermal management, wire and cable, food and beverage, semiconductor production and medical applications and other end-markets. •Our Climate & Sustainability Technologies segment is a provider of innovative and energy-efficient equipment, components, solutions, services and parts for the commercial refrigeration, heating and cooling and beverage can-making equipment end-markets.”

Annual report 2025A · The company itself

“The contract logistics market stayed stable, with growth mainly driven by increased demand in the technology sector.”

Annual report 2025A · The company itself

“In 2025, the division benefited significantly from the addition of Schenker’s strong logistics activities, which drove improved performance in the second half of the year, enhancing both profitability and ROIC before tax.”

Annual report 2025A · The company itself

“We provide supply chain services across most sectors, including bespoke solutions within the Aerospace and Defence, Automotive, Consumer, Healthcare, Industrials and Technology verticals.”

Annual report 2025A · The company itself

“Commercially, we will continue to strengthen our commercial approach and vertical expertise, with a particular focus on our large, global customers. In 2025, we saw significant growth within Technology and Aerospace & Defence, and we aim to pursue further profitable growth by leveraging the capabilities gained through the Schenker acquisition.”

Annual report 2025A · The company itself

“During the year, we further strengthened our value-added delivery services, which include “white glove” and installation services. Based on these efforts, we saw strong traction within the technology vertical.”

Annual report 2025A · The company itself

“Despite current challenges, forecasts for 2026 remain positive, largely due to growth within the technology sector and a generally more positive economic outlook for Europe.”

Annual report 2025A · The company itself

“Results Contract Logistics revenue was DKK 43,463 million in 2025 (2024: DKK 25,624 million), an annual increase of 72.4%. The growth was driven by strong results in the Technology and Healthcare verticals, most notably in North America and Europe, along with a significant contribution from Schenker.”

Annual report 2025A · The company itself

“Discrete Automation The Discrete Automation segment includes solenoid valves, pneumatic valves, valve position indicators, pneumatic cylinders and actuators, air preparation equipment, pressure and temperature switches, electric linear motion solutions, programmable automation control systems and software, electrical distribution equipment, and materials joining solutions used primarily in discrete industries. Products within our Discrete Automation segment are marketed under a variety of brands including: Afag, Appleton, ASCO, Aventics, Branson, Movicon, PACSystems, SolaHD, TESCOM, and TopWorx.”

Annual report 2025A · The company itself

“Stora och komplexa projekt I moderna komplexa industrier såsom halvledartillverkningen är det avgörande att projekttidsplaner accelereras och att effektiviteten i verksam heterna bibehålls.”

Annual report 2024A · The company itself

“The Company’s largest end markets include industrial, life sciences, energy, water, fire suppression, semiconductor, automotive and aviation, chemical, paint dispensing and food and beverage.”

Annual report 2025A · The company itself

“The Intelligent Infrastructure segment is focused on the modern digital ecosystem including artificial intelligence (“AI”) infrastructure and includes revenues from customers primarily in the capital equipment, cloud and data center infrastructure, and networking and communications industries.”

Annual report 2025A · The company itself

“Our customers represent a diverse group of suppliers across the global industry value chain and include original equipment and contract manufacturers supplying wireless and wireline semiconductors, chipsets, modules, and devices. Our customers also include network equipment manufacturers (“NEMs”) as well as those operating communications and computing networks, including enterprises, communications network service providers, and cloud computing service providers.”

Annual report 2025A · The company itself

“Semiconductor The market for Keysight’s semiconductor solutions consists of design and measurement applications to enable continued innovation in leading-edge semiconductors to address the demand for smaller, more power efficient, and highly integrated chips and chipsets. This innovation requires new approaches to design and measurement to enable realization of the design in the fab along with efficient testing at scale to preserve and enhance yield.”

Annual report 2025A · The company itself

“Table of Contents Process Analytics Our process analytics business provides instruments for the in-line measurement of liquid and gas parameters used primarily in the production process of pharmaceutical, biotech, beverage, micro-electronics, chemical, and refining companies, as well as power plants.”

Annual report 2025A · The company itself

“The capital expenditures table presented in the “Liquidity and Capital Resources” section of Management’s Discussion and Analysis of Financial Condition and Results of Operations in Part II, Item 7 of this report includes new APS transmission projects, along with other transmission costs for upgrades and replacements, including those for data center and semi-conductor manufacturing development.”

Annual report 2025A · The company itself

“Senzime är ett tillverkande medicintekniskt företag.”

Annual report 2024A · The company itself

“Central to its offering, are strategic partnerships with top-tier mobile device manufacturers and mobile technology software providers.”

Annual report 2024A · The company itself

“These products and services are used by customers in pharmaceutical, biotechnology, academic, government, environmental and other research and industrial markets, as well as the clinical laboratory.”

Annual report 2025A · The company itself

“Demand grew in all market segments with particularly strong growth in life science and power markets. Growth in the industrial market segment was driven by data center and semiconductor industries as well as orders from industrial OEM's.”

Annual report 2025A · The company itself

“Net sales increased very strongly in the life science and power market segments. In industrial markets, net sales growth was driven by data center and semiconductor industries as well as sales to industrial OEM's.”

Annual report 2025A · The company itself

“The business area is leveraging its solid foundation to accelerate growth with focus on key industries – life science, data centers, semiconductors, battery manufacturing, and power – as well as deepening customer relationships and accelerating services growth.”

Annual report 2025A · The company itself

“Teollisen rakentamisen markkina, erityisesti datakeskusmarkkina, kehittyi vahvasti Suomessa vuonna 2025. YIT investoi systemaattisesti sekä Infra- että Rakennussegmenttien kyvykkyyksiin, vahvistaen asemaansa Suomen johtavana datakeskusrakentajana.”

Annual report 2025A · The company itself

“Our industrial machine vision platform-independent AI-enabled software, software development kits, smart cameras, vision controllers, frame grabbers, input/output cards, and 3D sensors capture, inspect, assess, and record data from industrial vision systems in factory automation, semiconductor inspection, pharmaceutical packaging, food & beverage, among other use cases.”

Annual report 2025A · The company itself

“Operationella risker omfattar bl a regulatoriska risker, bransch- och marknadsrelaterade risker, risker relaterade till produktkvalitet och produktsäkerhet, beroende av nyckelpersoner och kunder, beroende av lager, konkurrens, leverantörer, miljörisker, immateriella rättigheter, bristande kontroll, försäkringsrisker, IT-relaterade risker och tvister.”

Annual report 2024A · The company itself

“This muted product fleet development is largely attributed to a low level of deliveries in 2022, with total product tanker deliveries falling by 29% yearon-year to a limited 5.1m DWT.”

Annual report 2022A · The company itself