Shipping and logistics

“Under året fortsatte efterfrågan att normaliseras där transport- och byggaktiviteten sjönk i många regioner runt om i världen jämfört med de mycket höga nivåerna under 2023.”

Annual report 2024A · The company itself

“Ett år med stora produktlanseringar runt om i koncernen VOLVOKONCERNENS ÅRSREDOVISNING Drivande i utvecklingen av framtidens transporter och infrastrukturlösningar Volvokoncernen bidrar till ett ökat välstånd genom att erbjuda transport- och infrastrukturlösningar som lastbilar, bussar, anläggningsmaskiner och motorer för marina och industriella applikationer samt finansiering och tjänster som ökar kundernas drifttid och produktivitet.”

Annual report 2024A · The company itself

“Business activities The Volvo Group drives prosperity through transport and infrastructure solutions, offering trucks, buses, construction equipment, power solutions for marine and industrial applications, financing and services that increase our customers’ uptime and productivity.”

Annual report 2024A · The company itself

“I erbjudandet ingår även tjänster som kundsupportavtal, maskinkontrollsystem, redskap, finansiering och leasing.”

Annual report 2024A · The company itself

“UTVECKLING AV PRODUKTER OCH TJÄNSTER LEVERANTÖRS- NÄTVERK VÅRA KUNDER OCH SLUTANVÄNDARE DISTRIBUTION, SERVICE, UNDERHÅLL OCH REPARATIONER PRODUKTION OCH LOGISTIK 23 VOLVOKONCERNEN 2024 VÅR AFFÄR ò Våra kunder och slutanvändare Volvokoncernens affärsområden stödjer kunder inom huvudsegmenten lastbilar, bussar, anläggningsmaskiner, marina drivsystem och industrimotorer. Kunder och slutanvändare är verksamma inom många branscher. Direkta kunder finns i nyckelbranscherna vägtransporter, kollektivtrafik samt bygg- och infrastrukturutveckling.”

Annual report 2024A · The company itself

“Banbrytande innvationer mot en fossilfri framtid Volvo Penta är verksamt inom två kärnaffärer: Marin (fritidsbåtar, yachter och kommersiella fartyg) och Industri (maskinapplikationer och kraftgenerering, inklusive delsystem till batterienergilagringssystem).”

Annual report 2024A · The company itself

“Utbudet omfattar stads-, intercity- och turistbussar samt chassier tillsammans med tjänster för ökad produktivitet, drifttid och säkerhet. Volvo Bussar har försäljning i 70 länder och tillsammans med Volvo Lastvagnar ett globalt servicenät med fler än 2.200 återförsäljare och verkstäder.”

Annual report 2024A · The company itself

“Den organiska tillväxten var exceptionellt stark inom Marinedivisionen med 39 procent, medan Energydivisionen och Food & Waterdivisionen kompenserade specifika marknadssvagheter med solid tillväxt inom alla övriga produktområden.”

Annual report 2024A · The company itself

“Allteftersom vår portfölj breddas och får ökad komplexitet för att anpassas till behoven av framtida bränsleflexibilitet och digitala lösningar, fortsätter Alfa Laval att öka utbudet ombord på fartyg.”

Annual report 2024A · The company itself

“Pumpar, ventiler, utrustning för tankrengöring och installationsmaterial för industrier med stränga hygienkrav samt pumpsystem specifikt för den marina industrin och offshoremarknaden.”

Annual report 2024A · The company itself

“I ett tekniskt perspektiv var det ett betydelsefullt år, med viktiga produktlanseringar relaterade till ammoniakbränslekonditionering för marina motorer och nya semisvetsade värmeväxlare som även är lämpliga för ammoniak.”

Annual report 2024A · The company itself

“Idag stöds cirka 7 000 fartyg av StormGeos programvara och digitala tjänster i sin dagliga verksamhet. Det tekniska teamet på StormGeo stödjer anslutningslösningar för all Alfa Laval-utrustning ombord på fartyg.”

Annual report 2024A · The company itself

“Den första fullskaliga Oceanbird-vingen, vårt samarbete inom vindframdrivning med Wallenius, har byggts för tester på land under 2024. Nästa generation av OceanGlide, vår luftsmörjningslösning, förväntas bli tillgänglig tidigt under 2025 med förbättrad bränsleminskningskapacitet som erbjuder kunderna en attraktiv ekonomisk avkastning.”

Annual report 2024A · The company itself

“Marinedivisionen är specialiserad på lösningar för kunder inom sjöfart, bland annat rederier, varv, motortillverkare samt bolag som arbetar med utvinning av olja och gas till havs.”

Annual report 2024A · The company itself

“We rely on a limited number of shipping companies to deliver inventory to us and completed orders to our customers. An inability to negotiate acceptable terms with these companies or performance problems, staffing limitations, or other difficulties experienced by these companies or by our own transportation systems, including as a result of labor market constraints and related costs, could negatively impact our operating results and customer experience.”

Annual report 2025A · The company itself

“We regularly experience increases in our net shipping cost due to complimentary upgrades, split-shipments, and additional long-zone shipments necessary to ensure timely delivery for the holiday season.”

Annual report 2025A · The company itself

“We fulfill customer orders in a number of ways, including through: North America and International fulfillment networks that we operate; co-sourced and outsourced arrangements in certain countries; digital delivery; and through our physical stores.”

Annual report 2025A · The company itself

“Sale of Green Coaster vessels 25.2 25.3 Supra 7.5 16.8 EBITA, MEUR 25.5 9.2 17.8 Items affecting comparability, MEUR 9.1 -7.6 -0.6 Invested capital, MEUR 217.2 212.1 218.4 Comparable ROCE, % 7.7 7.8 8.7 In 2025, ESL Shipping’s net sales decreased by 10% from the previous year to EUR 184.6 (206.2) million. Sales development of the handy segment was flat, whereas coaster net sales declined by 15%. The decreased net sales were mainly due to lower capacity, very weak spot market pricing and softer contractual freight volume demand caused by overall modest industrial activity, especially in the coaster segment.”

Annual report 2025A · The company itself

“Aspo continued its strategic review in 2025, and the company aims to complete either the sale of ESL Shipping or a potential partial demerger of Aspo by the end of 2026.”

Annual report 2025A · The company itself

“ESL Shipping is the leading dry bulk sea transportation company operating in the Baltic Sea area. ESL Shipping’s operations are mainly based on long-term customer contracts and established customer relationships. ESL Shipping’s strategy and competitive edge build on sustainability leadership and the company’s unique ability to develop and provide reliable infrastructure for the ice-bound Nordic industrials investing in the green transition.”

Annual report 2025A · The company itself

“At the end of the year, the shipping company’s fleet consisted of 37 vessels, with a total capacity of 298,000 deadweight tons (dwt). Of these, 24 were wholly owned (77% of the tonnage), two were minority owned (3%), and the remaining 11 vessels (20%) were time-chartered.”

Annual report 2025A · The company itself

“ASPO’S VALUE CHAINS Raw materials Vessel building Procurement of goods and services Fleet management Chartering Second life of vessel End-of-life management Raw materials Ingredient production and processing Product and assortment development & innovation Sourcing & supply chain management Food producers Retail / Food service Consumers Raw materials Chemical producers Technical & industry expertise Sourcing, mixing/packing & logistics Industrial customers and wholesale End-users End-of-life management reduction measures also require close and long-term cooperation with customers.”

Annual report 2025A · The company itself

“The operating segments have been identified based on Aspo Group’s organizational structure, in which each business is led separately. • ESL Shipping conducts sea transportation of raw materials for industry and the energy sector and offers related services. • Telko acquires and supplies plastic raw materials, chemicals and lubricants to industry.”

Annual report 2025A · The company itself

“We could experience disruption in our supply or delivery chain, which could cause one or more of our customers to halt or delay production We, as with other component manufactures in the automotive industry, ship our products to customer vehicle assembly facilities throughout the world on a “just-in-time” basis for our customers to maintain low inventory levels. Our suppliers (external suppliers as well as our own production sites) use a similar method in providing raw materials to us.”

Annual report 2024A · The company itself

“At the same time, online and multi-channel retailers are prioritizing fast, low-cost delivery options, including curbside pickup and guaranteed shipping times.”

Annual report 2026A · The company itself

“Our supply chain assets are a critical part of our operations, particularly considering industry trends and initiatives, such as ship-from-store and the emphasis on fast delivery when purchasing online. We depend on our vendors’ abilities to deliver products to us at the right location, at the right time and in the right quantities. We also depend on third parties for the operation of certain aspects of our supply chain network.”

Annual report 2026A · The company itself

“Table of Contents Distribution Customers within our Domestic segment who purchase product online have the choice to have product delivered, or pick up product from a Best Buy store (including curbside pick-up for many products at most stores) or an alternative pick-up location. Our ship-from-store capability allows us to offer additional fast and convenient delivery options for customers.”

Annual report 2026A · The company itself

“Risker relaterade till globala logistikkedjor och valutaeffekter BHG:s importberoende gör verksamheten sårbar för störningar i globala leveranskedjor. Fraktförseningar, råvarubrist och begränsningar inom logistiksektorn kan påverka både varutillgång och kostnadsnivåer, vilket i sin tur kan leda till minskade lagernivåer, ett snävare produktutbud och högre priser.”

Annual report 2024A · The company itself

“Vi stärker vårt kunderbjudande kontinuerligt genom att komplettera produktförsäljningen med värdeskapande tjänster som hemleverans, expertrådgivning, installation, professionell service och support samt ett nätverk av visningsbutiker i hela Norden.”

Annual report 2024A · The company itself

“Den justerade bruttomarginalen (d.v.s. marginalen efter avdrag för direkta försäljningsomkostnader, såsom logistik, lagerhantering etc.) uppgick till 25,5 (25,0) %. Den förbättrade justerade bruttomarginalen jämfört med föregående år förklaras främst av att last-mile-kostnader har reducerats genom främst effektivisering samt förbättrade koncerngemensamma avtal med tredjepartsleverantörer samt förbättring av lagerhanteringskostnader.”

Annual report 2024A · The company itself

“Transport och distribution En stor del av produkterna direktlevereras från leverantör via tredjepartsdistributörer till kund. Utöver detta distribueras produkter i egen regi via tredjepartsaktörer (såsom DSV, DHL och PostNord) samt via BHGs egna ”last-mile-leveranser” med egna bilar och chaufförer.”

Annual report 2024A · The company itself

“In addition, we regard the 607 suppliers in the categories: logistics, chemicals and wood as having potential negative environmental impacts. 35 of these are classified strategic and thus identified as having significant actual and potential negative environmental impacts. Improvements have been agreed with 54% of them.”

Annual report 2024A · The company itself

“Boule Diagnostics AB (publ) / Hållbarhet Miljö Energianvändning, andel CO2e per land 2024 Boule arbetar systematiskt för att minimera miljörisker kopplade till transport av produkter, vilket är Boules största källa till utsläpp av växthusgaser. Boule arbetar också proaktivt med andra miljöaspekter såsom val av återvinningsbara produkter för förpackningar.”

Annual report 2024A · The company itself

“In addition, our financial performance may be influenced by the production and utilization of transport equipment, including truck production cycles in North America and Europe. Significant changes in these factors have in the past and may in the future have materially adverse impacts on our results of operations or financial condition.”

Annual report 2025A · The company itself

“Climate Solutions Transportation For the year ended December 31, 2025, Net sales were $2.9 billion, a 17% decrease compared with the same period of 2024. The components of the year-over-year change were as follows: Net sales Organic / Operational 4 % Foreign currency translation 1 % Acquisitions and divestitures, net (22) % Total % change (17) % The organic increase in Net sales of 4% was primarily driven by volume growth within certain end-markets compared with the prior year.”

Annual report 2025A · The company itself

“Products and services are sold directly to transportation companies and indirectly through joint ventures, independent sales representatives, distributors, wholesalers and dealers.”

Annual report 2025A · The company itself

“The Company's portfolio includes industry-leading brands such as Carrier, Viessmann, Toshiba, Automated Logic and Carrier Transicold, among others, that offer innovative heating, cooling and cold chain solutions to enhance the lives we live and the world we share.”

Annual report 2025A · The company itself

“The Climate Solutions Transportation segment provides climate and energy solutions for customers globally. Our products, services, systems and monitoring solutions offer reliable transport and preservation of food, medicine and other perishable cargo. Products include trucks, trailers, shipping containers and intermodal applications to meet customer needs for both ground transport and ocean freight, while services include maintenance, repair, and monitoring.”

Annual report 2025A · The company itself

“•Climate Solutions Transportation includes global transport refrigeration and monitoring products, services and digital solutions for trucks, trailers, shipping containers, intermodal and rail.”

Annual report 2025A · The company itself

“Lager- och logistiksegmentet behåller sin tredjeplats med 18,2 procent av den totala volymen. Logistikmarknaden är däremot det segment där affärer genomförts trots ett tuffare ekonomiskt klimat under de senaste åren.”

Annual report 2024A · The company itself

“Under året förvärvade vi först en dansk fastighet i Hvidovre, och därefter en nybyggd logistikanläggning i Helsingborg med den internationella DSV-koncernen som hyresgäst. Innan sommaren stod vi som ägare till ytterligare logistikanläggningar som köptes från DSV – då tillfördes 180 000 kvm nyproducerad logistikyta i Landskrona till Catenas portfölj. Vårt största fastighetsförvärv någonsin blev verklighet efter sommaren, återigen via en sale-and-leaseback-transaktion med DSV, denna gång i Horsens, Danmark.”

Annual report 2024A · The company itself

“Att växa tillsammans med befintliga kunder som Nowaste Logistics är optimalt för oss.”

Annual report 2024A · The company itself

“Kontraktsstruktur Kontraktsportföljen är långsiktig och hyresgästerna utgörs till övervägande del av stora, solida och väl etablerade företag verksamma inom olika sektorer såsom logistik, transport samt dagligvaru- och sällanköpshandel.”

Annual report 2024A · The company itself

“Betydande delar av kundbasen utgörs av e-handelsföretag och tredjepartslogistiker.”

Annual report 2024A · The company itself

“Genomsnittlig kontraktstid Ekonomisk uthyrningsgrad Fastighetsbeståndets värdeutveckling Fastighetsbeståndet per region, Mkr Sverige Syd, 12 726 Sverige Väst, 8 551 Sverige Öst, 12 662 Danmark, 7 619 Catenas tio största hyresgäster svarade per 31 december 2024 för 54 procent (44) av koncernens kontrakterade hyresintäkter.”

Annual report 2024A · The company itself

“New growth opportunities include power generation and marine shipping, which are hard-to-abate industries for which low-carbon ammonia offers a potential path to significantly lower carbon footprints as it does not contain or emit carbon when combusted.”

Annual report 2025A · The company itself

“In addition, we rely on railroad, barge, truck, vessel and pipeline companies to coordinate and deliver finished products to our distribution system and to ship finished products to our customers. We also lease rail cars in order to ship finished products.”

Annual report 2025A · The company itself

“These transportation operations, equipment and services are subject to various hazards and other sources of disruption, including adverse operating conditions on the inland waterway system or on the seas with respect to oceangoing vessels, adverse weather conditions, system failures, unscheduled downtime, labor difficulties or shortages, shutdowns, delays, accidents such as spills and derailments, vessel groundings and other accidents and operating hazards. The inability of our third-party providers to develop or operate CO2 pipelines and sequestration wells would impact our ability to generate tax credits and recognize revenue for low-carbon ammonia sales.”

Annual report 2025A · The company itself

“Additionally, due to the aging infrastructure of certain rail lines, bridges, roadways, pipelines, river locks, and equipment that our third-party service providers utilize, we may experience delays in both the receipt of raw materials or the shipment of finished product while repairs, maintenance or replacement activities are conducted.”

Annual report 2025A · The company itself

“Also, certain third-party service providers, such as railroads, have from time to time experienced service delays or shutdowns due to capacity constraints in their systems, operational and maintenance difficulties, blockades, organized labor strikes, weather or safety-related embargoes and delays, and other events, which could impact the shipping of our products and cause disruption in our operations and supply chain.”

Annual report 2025A · The company itself

“If shipping of our products is delayed or we are unable to obtain raw materials as a result of these transportation companies’ failure to operate properly, if new and more stringent regulatory requirements were implemented affecting transportation operations or equipment, or if there were significant increases in the cost of these services or equipment, our revenues and cost of operations could be adversely affected. In addition, increases in our transportation costs, or changes in such costs relative to transportation costs incurred by our competitors, could have a material adverse effect on our business, financial condition, results of operations and cash flows.”

Annual report 2025A · The company itself

“an ageing global fleet and a historically low orderbook underpinning asset values”

Annual report 2025B · From the report

“an historically low orderbook, an ageing global fleet and increasingly stringent environmental regulations”

Annual report 2025B · From the report

“Capture value from expansion into attractive adjacent segments”

Annual report 2025A · The company itself

“our ability to shift between asset-heavy and assetlight exposure has enabled NORDEN to capture value in dynamic markets”

Annual report 2025A · The company itself

“Shippers of dry cargo, project cargo and refined oil products”

Annual report 2025A · The company itself

“Port logistics provides long-term contracts and deeper customer relationships”

Annual report 2025A · The company itself

“NORDEN proudly marks the 20th anniversary of the Tanker Pool”

Annual report 2025A · The company itself

“Shippers of dry cargo, project cargo and refined oil products”

Annual report 2025A · The company itself

“Vessel owners and operators offering available tonnage capacity”

Annual report 2025A · The company itself

“Long-term market fundamentals remain supportive, with an ageing global fleet and limited shipyard capacity underpinning asset values and providing upside to NORDEN’s vessel portfolio and purchase options.”

Annual report 2025A · The company itself

“2025 represented a recovery phase for the Dry operator segment, marked by gradual stabilisation although performance remained below desired levels. While the year has been challenged by margin pressure and demanding market dynamics, we have taken decisive steps to enhance performance.”

Annual report 2025A · The company itself

“During the year, we sold 23 vessels, realising gains of USD 70 million, while simultaneously expanding our fleet by adding 24 new lease agreements with purchase options.”

Annual report 2025A · The company itself

“With a large asset-light platform and low CAPEX, our business model allows us to return a significant share of profits to our shareholders.”

Annual report 2025A · The company itself

“Founded in 1871 and with 19 offices across 6 continents and close to 500 employees, NORDEN is a global provider of ocean- and port-based freight services for bulk and project cargo.”

Annual report 2025A · The company itself

“We integrate freight solutions with port logistics, helping our customers optimise their supply chains.”

Annual report 2025A · The company itself

“Group net profit amounted to USD 120 million in 2025, driven by solid operating earnings and vessel sales. Across the Group, USD 50 million came from combined operating earnings and USD 70 million represented sales gains.”

Annual report 2025A · The company itself

“If any of these developments reduce the desirability of participating in the oilfield services, midstream or downstream portions of the oil and gas industry, then these developments may also reduce the availability to us of necessary third-party services and facilities that we rely on, which could increase our operational costs and adversely affect 24 Table of Contents our ability to explore for, produce, transport and process oil and natural gas and successfully carry out our business and financial strategy.”

Annual report 2025A · The company itself

“Further, as a result of any of these developments we could incur material write-downs of our oil and natural gas properties and the value of our undeveloped acreage could decline in the future. The marketability of our production is dependent upon transportation and other facilities, certain of which we do not control.”

Annual report 2025A · The company itself

“The availability, terms and cost of transportation of oil and natural gas significantly affect its marketability and sale. The interstate transportation and sale for resale of natural gas, and the interstate transportation of oil, is subject to federal regulation, including regulation of the terms, conditions and rates for interstate transportation, storage and various other matters, primarily by FERC.”

Annual report 2025A · The company itself

“The marketability of our oil and natural gas production depends in part upon the availability, proximity and capacity of transportation facilities owned by third parties. We do not control third-party transportation facilities and our access to them may be limited or denied.”

Annual report 2025A · The company itself

“Distribution and Transportation ​ Our stores are currently supported by distribution centers located strategically throughout our geographic footprint. In addition to our traditional distribution centers, we operate multiple temperature-controlled distribution facilities in support of our self-distribution of frozen and refrigerated goods, such as dairy, deli and frozen products.”

Annual report 2026A · The company itself

“We rely on our distribution and transportation network to provide goods to our stores timely and cost-effectively. Using various transportation modes, including ocean, rail, and truck, we and our vendors move goods from vendor locations to our distribution centers and our stores, and we also lease additional temporary warehouse space as necessary to support our distribution needs.”

Annual report 2026A · The company itself

“To the extent that we do become reliant on fleet companies in certain markets, it may be difficult to find a suitable replacement for the fulfillment services that such fleet companies provide in a timely manner or at all. In addition, if fleet companies operate, or are perceived to operate, below appropriate quality standards or have compliance or other regulatory issues, we could be held liable for their deficiencies and/or violations and our business, reputation and results of operations could be adversely affected.”

Annual report 2025A · The company itself

“In certain markets, we regularly engage fleet companies to fulfill deliveries on our platform. Fleet companies are third parties that provide delivery services using their own workforce or, in some cases, their own subcontractors.”

Annual report 2025A · The company itself

“The Company’s local commerce platform facilitates orders between consumers and partner merchants. Separately, the Company’s platform arranges for consumers to obtain delivery service from Dashers.”

Annual report 2025A · The company itself

“Table of Contents In the vast majority of its transactions with end-users, the Company is an agent in facilitating the sale of products and delivery services, thus the Company reports revenue on a net basis, reflecting amounts collected from consumers, less amounts remitted to merchants and Dashers. Dasher payout represents the amounts paid to Dashers for deliveries, including incentives and tips, except for certain referral bonuses.”

Annual report 2025A · The company itself

“For example, it may be impractical or inefficient for our sellers to meet evolving delivery expectations, and we may lack the resources to match shipping subsidies from our competitors. •We may not be able to engage consumers as effectively as our large competitors with broad ecosystems – Some of our competitors, such as Alibaba, Alphabet (Google), Amazon, Apple and Meta (Facebook and Instagram), are larger than we are, have greater resources, have a dominant and secure position in other industries or certain significant markets, or offer other goods and services and product ecosystems to consumers and merchants that we do not offer, which can drive consumers to, and keep them locked-in to, their platforms instead of using ours.”

Annual report 2025A · The company itself

“If these carriers experience performance issues, including delays, losses, damage, or inaccurate tracking information, we may incur increased costs and loss rates under our eBay Money Back Guarantee program.”

Annual report 2025A · The company itself

“We and our customers depend on a variety of third-party products and services that are important to our success, including seller tools that automate and manage listings, merchant tools that manage listings and interface with inventory management software, storefronts that help our sellers list items, shipping providers that deliver goods sold on our platform, payment processing and financial services, item authentication services, third-party traffic drivers such as search engines, social networks and, increasingly, AI technologies such as chatbots and shopping agents.”

Annual report 2025A · The company itself

“We earn revenue primarily through fees collected on paid transactions, first-party advertising and shipping. eBay’s strategy is centered on reinventing the future of ecommerce for enthusiasts by delivering trusted, engaging shopping experiences for our customers.”

Annual report 2025A · The company itself

“Our ability to sell and deliver our crude oil, NGLs and natural gas production could be materially and adversely affected if adequate gathering, processing, compression, storage, transportation, refining, liquefaction and export facilities and equipment are unavailable. The sale of our crude oil, NGLs and natural gas production depends on a number of factors beyond our control, including the availability, proximity and capacity of, and costs associated with, gathering, processing, compression, storage, transportation, refining, liquefaction and export facilities and equipment owned by third parties.”

Annual report 2025A · The company itself

“If these or any other pipeline connections or facilities were to become unavailable for current or future volumes of natural gas due to repairs, damage to the facility, lack of capacity or any other reason, our or the MVP Joint Venture's ability to operate efficiently and ship natural gas to end markets could be restricted, as has occurred in the past. Any temporary or permanent interruption at any key pipeline interconnect or facility could have a material adverse effect on our business, financial condition, cash flows, and results of operations.”

Annual report unknown yearA · The company itself

“We depend on third-party pipelines and other facilities that provide receipt and delivery options to and from our transmission and storage systems. For example, our storage system and the MVP Joint Venture's transmission system interconnect, as applicable, with the following third-party interstate pipelines: Transcontinental Gas Pipe Line Company, LLC, East Tennessee Natural Gas, Texas Eastern, Eastern Gas Transmission, Columbia Gas Transmission, Tennessee Gas Pipeline Company, Rockies Express Pipeline LLC, National Fuel Gas Supply Corporation and ET Rover Pipeline, LLC, as well as multiple distribution companies.”

Annual report unknown yearA · The company itself

“Evergy Kansas Central, Evergy Metro and Evergy Missouri West have also entered into rail transportation contracts with various railroads to transport coal from the PRB and local suppliers to their generating units. The transportation services to be provided under these contracts are expected to satisfy 70%, 25% and 25% of the projected transportation requirements for 2026, 2027 and 2028, respectively. The contract rates adjust for changes in railroad costs.”

Annual report 2025A · The company itself

“We face intense competition. The transportation and business services markets are both highly competitive and sensitive to price and service, especially in periods of little or no macroeconomic growth.”

Annual report 2026A · The company itself

“The ground transportation performed by employees of FedEx and by service providers is integral to its air transportation services.”

Annual report 2026A · The company itself

“Customs Clearance, Customs Brokerage, and Freight Forwarding. Our customs clearance activities, including customs brokerage, are subject to regulation by U.S.”

Annual report 2026A · The company itself

“As of May 31, 2026, Federal Express operated approximately 82,000 motorized vehicles in its global network and also conducts certain linehaul and pickup-and-delivery operations primarily with approximately 100,000 motorized vehicles owned or leased by independent service providers.”

Annual report 2026A · The company itself

“In addition, as of May 31, 2026, FedEx Supply Chain had approximately 70 facilities through which it operated its supply chain logistics services.”

Annual report 2026A · The company itself

“We operate in a rapidly evolving and highly competitive industry and we may be affected by downward pricing pressures and other competitive factors, along with a decrease in our customers’ use of our services, which could materially adversely affect our results of operations and financial condition. The freight transportation market is highly competitive and sensitive to price and service levels.”

Annual report 2026A · The company itself

“Largest LTL Pure-Player with Exceptional Network Scale and Proximity We are the largest LTL freight carrier in North America with more than 26,000 service center doors and established infrastructure and coverage across 98% of all ZIP Codes in the United States (exclusive of military and PO ZIP Codes) as of June 1, 2026.”

Annual report 2026A · The company itself

“Our network is strategically aligned with the densest freight corridors in the United States and we have built our infrastructure to serve these high-demand areas efficiently.”

Annual report 2026A · The company itself

“Our LTL portfolio consists of two complementary service offerings designed to address distinct customer shipping requirements, serving both time-critical and cost-sensitive freight across a single integrated network: •FedEx Freight Priority: A premium, time-definite LTL service designed for shipments requiring the fastest available transit.”

Annual report 2026A · The company itself

“As of June 1, 2026, FedEx Freight operated nearly 30,000 motorized vehicles and over 365 locations (of which approximately 115 are owned and approximately 250 are leased), including approximately 355 shipping terminals (over 320 of which are in the United States) and approximately 10 linehaul relay sites, which are strategically located to provide service throughout North America. These facilities range in size from approximately 2,000 to 280,000 square feet of office and dock space. FedEx Freight has focused on optimizing its network footprint while maintaining strong door count and improving lane efficiency.”

Annual report 2026A · The company itself

“Våre virksomheter er avhengige av sikre og effektive IT- og logistikksystemer.”

Annual report 2024A · The company itself

“Gyldendal er Norges største bokkonsern, med virksomheter i alle ledd – fra forlag og innholdsproduksjon, til distribusjon, handel, markedsplasser og tjenester.”

Annual report 2024A · The company itself

“Forlagssentralen bidrar til effektiv og presis distribusjon for en stor del av bransjen, inkludert ARKs butikker og forsendelser rett hjem til kundene.”

Annual report 2024A · The company itself

“A significant disruption in the operation of the Company’s manufacturing, supply, or distribution capabilities, whether Company-owned or supported by third parties, could have a negative impact on the Company’s ability to operate its business, particularly if such a disruption were to occur at a facility that supports a meaningful amount of the Company’s production, such as its Austin, Minnesota manufacturing facility.”

Annual report 2025A · The company itself

“We depend upon a limited number of specialty pharmacies and wholesalers for a significant portion of any revenues from JAKAFI and most of our other drug products, and the loss of, or significant reduction in sales to, any one of these specialty pharmacies or wholesalers could adversely affect our operations and financial condition. We sell JAKAFI and our other drug products other than OPZELURA primarily to specialty pharmacies and wholesalers. Specialty pharmacies dispense JAKAFI and our other drug products to patients in fulfillment of prescriptions and wholesalers sell JAKAFI and our other drug products to hospitals and physician offices.”

Annual report 2025A · The company itself

“Our ability to competitively serve customers depends on the availability of reliable transportation. Increases in logistics and other transportation-related costs could adversely impact our results of operations.”

Annual report 2026A · The company itself

“The majority of the distribution of our brewers, beverage concentrates, and syrups is handled by third-party order fulfillment companies in the U.S.”

Annual report 2025A · The company itself

“Selling, General, and Administrative Expenses Transportation and Warehousing Costs We incurred $2,087 million, $1,910 million, and $1,783 million of transportation and warehousing costs during the years ended December 31, 2025, 2024, and 2023, respectively. These amounts, which primarily relate to shipping and handling costs, are recorded in SG&A expenses in the Consolidated Statements of Income.”

Annual report 2025A · The company itself

“Amplify our route-to-market advantage. In our DSD network, we have strategically located distribution capabilities that enable us to better align our operations with our customers and sales channels, ensure our products are available to meet consumer demand, reduce transportation costs, and have greater control over the timing and coordination of new product launches.”

Annual report 2025A · The company itself

“•Increases in our cost of employee benefits in the future could reduce our profitability. •We negotiate with our suppliers to optimize our terms and conditions, including payment terms, and reductions in our payment terms with our suppliers could adversely affect our liquidity. •An impairment of the value of our goodwill and other indefinite lived intangible assets could have a material adverse effect on our financial statements. •We depend on third-party bottling and distribution companies for a significant portion of our business. •Changes in the retail landscape or in sales to any key customer can adversely affect our business. •Failure to maintain strategic relationships with brand owners and private label brands could adversely impact our future growth and business, potentially resulting in the termination of those agreements.”

Annual report 2025A · The company itself

“RISKS RELATING TO OUR RELATIONSHIPS WITH THIRD PARTIES We depend on third-party bottling and distribution companies for a significant portion of our business. We license rights to third parties to bottle and distribute our products. A portion of our income from operations is generated from sales of beverage concentrates to third-party bottling companies that we do not own.”

Annual report 2025A · The company itself

“Main risks next 12 months Weak freight rates and changes in trade flows commodities, caustic soda, or clean petroleum products can significantly impact the Group’s financial performance.”

Annual report 2024A · The company itself

“Higher asset utilization compared to standard vessels due to two laden legs, giving a higher number of revenue days.”

Annual report 2024A · The company itself

“There are technical, operational, and commercial risks that the new vessels may not perform as intended, potentially affecting their earnings capacity and market value. In addition, the construction phase carries risks related to delays, cost overruns, and quality issues at the shipyard. Supply chain disruptions, labour shortages, unforeseen technical challenges or sanctions could impact delivery timelines and vessel specifications.”

Annual report 2024A · The company itself

“8x CABU + 3x Newbuilds1 MR product tanker and Panamax dry-bulk vessel CABU (Caustic Soda- Bulk) vessels mainly transport Caustic Soda Solution from Far East to Australia, and dry-bulk commodities on the return.”

Annual report 2024A · The company itself

“8x CLEANBU LR1 product tanker and Kamsarmax dry-bulk vessel CLEANBU (Clean Petroleum Product-Bulk) vessels mainly transport Clean Petroleum Product (CPP) from Middle East/ India, Far East or US Gulf to South America or other dry-bulk export hubs and dry-bulk commodities on the return.”

Annual report 2024A · The company itself

“En generelt aldrende fartøysflåte og strengere krav knyttet til klimagassutslipp, gir behov for fornyelse av flåten, noe som underbygger langsiktig etterspørsel etter forretningsområdets løsninger.”

Annual report 2024A · The company itself

“Ett av våre sterkeste fortrinn er domenekunnskapen vi har bygd opp etter å ha levert utstyr på en tredjedel av verdens skipsflåte.”

Annual report 2024A · The company itself

“Kongsberg Maritime er en ledende teknologipartner for den maritime industrien. Fra avanserte offshorefartøyer til cruiseskip, og fra fiskefartøy til komplekse marinefartøy, styrker vi hele den maritime industrien med banebrytende teknologi og løsninger.”

Annual report 2024A · The company itself

“Kongsberg Discovery utvikler teknologi for å ivareta bærekraftig forvaltning av havressursene, overvåke klimaendringer og kritisk infrastruktur, og ivareta nasjonal trygghet. Teknologien og løsningene er rettet mot områder som offshoreoperasjoner, fiskeri, havforskning, maritime operasjoner, havbasert energiproduksjon, samt sjøforsvar og marine.”

Annual report 2024A · The company itself

“Automation & Control Intelligente kontrollsystemer som gir sikrere og bærekraftig drift •Divisjonens portefølje dekker automasjons- og sikkerhetssystemer, brosystemer og sensorløsninger. Vi støtter et bredt spekter av oppdrag i havrommet, fra sjøtransport til komplekse marine operasjoner og offshore energiproduksjon.”

Annual report 2024A · The company itself

“Kongsberg Satellite Services (KSAT) – Vi eier 50 prosent av Kongsberg Satellite Services (KSAT), en verdensledende leverandør av kommunikasjonstjenester for romfartøy- og utskytningsplattformer og avanserte overvåkningstjenester via satellitter.”

Annual report 2024A · The company itself

“Ekspert på å forstå omgivelsene Gjennom en årrekke har vi utviklet og forbedret vår teknologi for å øke sikkerheten ved maritime operasjoner. I utfordrende maritime miljøer, der navigasjonsfarer, skipstrafikk, uforutsigbart vær og utviklende risikoer stadig oppstår, trenger fagfolk på broen og på land klarhet i sanntid til å fatte riktige beslutninger.”

Annual report 2024A · The company itself

“Teknologi relatert til treghetsnavigasjon, navigasjonssatellittsystemer, mikrobølger og radioteknologi, gir kundene våre verdifull informasjon om posisjon, hastighet, akselerasjon og kurs. I tillegg bidrar våre løsninger til økt situasjonsforståelse på sjø, i lufta, fra verdensrommet og fra land.”

Annual report 2024A · The company itself

“Kongsberg Maritime former den maritime fremtiden og leverer teknologi, utstyr og tjenester som kreves i bærekraftige maritime operasjoner. Forretningsområdet muliggjør virksomhet på verdenshavene, i arktiske farvann, i de travleste havner og under de tøffeste værforholdene.”

Annual report 2024A · The company itself

“Kongsberg Maritime har også en vesentlig andel av leveranser som inntektsføres ved levering. Dette gjelder spesielt for divisjonen Propulsion & Handling, men gjelder også for deler av divisjonene Integration & Energy og Automation & Control. Utstyrsleveransene vurderes i stor grad som frittstående og har kort tidshorisont og inntektsføres dermed ved leveranse.”

Annual report 2024A · The company itself

“Nesten 60 prosent av kontraktsinntektene i Kongsberg Maritime i 2024 er innenfor ettermarkedet. De aller fleste av disse kontraktene inntektsføres ved leveranse av timer/utstyr og har ofte kort varighet.”

Annual report 2024A · The company itself

“Kongsberg Maritime Kongsberg Maritimes virksomhet dekker et bred spekter av de maritime markedene som offshore, flytende naturgass (LNG), sjøbåren transport, cruise og passasjerer, tauebåter (tugs), fiskeri, akvakultur og naval.”

Annual report 2024A · The company itself

“Kongsberg Digital Kongsberg Digital er en ledende leverandør av digitale løsninger til energisektoren og maritim industri. Digitaliseringen er en viktig bidragsyter for økt effektivitet og reduksjon i klimagassutslipp i disse industriene. "Software as a Service" -løsningene er de viktigste driverne for vekst og det oppleves god etterspørsel etter disse løsningene.”

Annual report 2024A · The company itself

“KONGSBERG samarbeider med globale aktører innenfor forsvars-, energi-, maritim-, fiskeri- og romfartsindustrien.”

Annual report 2024A · The company itself

“Våre leveranser støtter i hovedsak kunder i det maritime markedet og forsvarsmarkedet. Markedsrisikoen vil naturlig kunne variere mellom disse ulike markedene.”

Annual report 2024A · The company itself

“Vi er eksponert mot de fleste maritime segmenter.”

Annual report 2024A · The company itself

“Pådriver for klimaomstilling i den maritime næringen Kongsberg Maritime er en ledende teknologipartner for den maritime industrien. Vi har utstyr på en tredjedel av verdens flåte, fra offshorefartøy til cruiseskip, på fiskebåter og komplekse marinefartøy.”

Annual report 2024A · The company itself

“Sterk vekst for Vessel Insight Vi opplevde betydelig vekst i det maritime segmentet i 2024. Ved årets slutt hadde over 85 rederier inngått kontrakter, og mer enn 300 nye skip ble tilkoblet Vessel Insight.”

Annual report 2024A · The company itself

“Produkter fra forretningsområdene Kongsberg Maritime og Kongsberg Defence & Aerospace ble for det meste behandlet som sluttprodukter, med egne forutsetninger om bruk og klimagassutslipp gjennom forventet levetid. Oppsummeringen under beskriver hvordan produktene som selges av Kongsberg Maritime beregnes for utslipp i denne kategorien.”

Annual report 2024A · The company itself

“Markeds- og teknologirisiko og -muligheter Deler av vår virksomhet er eksponert mot olje- og gassindustrien og kan derfor være spesielt utsatt for klimarelatert omstillingsrisiko. Denne risikoen balanseres ved at vår brede produktportefølje i den maritime sektoren er spesielt godt posisjonert for å levere teknologier som bidrar til en netto null havøkonomi.”

Annual report 2024A · The company itself

“Global Customer Support-divisjonen i Kongsberg Maritime er etablert spesielt for å imøtekomme formålene med denne aktiviteten.”

Annual report 2024A · The company itself

“Kongsberg Maritime er dedikert til å optimalisere produkter og tjenester for å sikre maksimal ytelse over en installasjonslivssyklus på opptil 40 år. Med et sterkt fokus på bærekraft og kontinuerlig forbedring integrerer Kongsberg Maritime livssyklusledelse i sine produktutviklings- og ledelsesprosesser. Produktene er designet for lang levetid, med digitale løsninger for å overvåke ytelse og forenkle oppgraderinger.”

Annual report 2024A · The company itself

“Despite having proprietary transport capabilities, the Company remains dependent on third parties for critical supplies and services, including transportation, laboratory materials, and specialized animal populations. Disruptions in supply chains or access to transport—due to factors such as geopolitical instability, public health crises, natural disasters, or vendor noncompliance—have impacted, and could in the future materially impact, the Company’s operations.”

Annual report 2025A · The company itself

“We own and operate sulfur terminals in Riverview and Tampa, Florida, along with Galveston, Texas and Faustina, Louisiana. We also lease terminal space in Beaumont, Texas. We have long-term time charters on two ocean-going tugs/barges and one ocean-going vessel that transports molten sulfur from the Texas terminals to Tampa. We then further transport by truck to our Florida phosphate plants.”

Annual report 2025A · The company itself

“Our production costs have increased due to higher prices for raw materials, including purchased nitrogen, sulfur and ammonia, as well as supply chain challenges, including increased costs and delays caused by transportation and labor shortages.”

Annual report 2025A · The company itself

“Unlike many of our competitors, we have our own distribution system to sell phosphate- and potash-based crop nutrients and animal feed ingredients, whether produced by us or by other third parties, around the globe. In North America, we have one of the largest and most strategically located distribution systems for crop nutrients, including warehouse facilities in key agricultural regions. We also have an extensive network of distribution facilities internationally, including in the key growth regions of South America and Asia, with port terminals, warehouses and blending plants in Brazil, Paraguay, China and India.”

Annual report 2025A · The company itself

“In addition to our production facilities, to service the needs of our customers, we own or have contractual throughput or other arrangements at strategically located distribution warehouses along or near 13 Table of Content the Mississippi and Ohio Rivers, as well as in other key agricultural regions of the U.S. and Canada. From these facilities, we distribute Mosaic-produced phosphate and potash products for customers who in turn resell the product into the distribution channel or directly to farmers in the U.S. and Canada.”

Annual report 2025A · The company itself

“Risks Related to our Industry We operate in a rapidly evolving and highly competitive industry, and our business will suffer if we are unable to adequately address potential downward pricing pressures and other factors that may adversely affect our operations and profitability. Our industry, faced with requirements for faster deliveries and increased visibility into shipments, is rapidly evolving and increasingly competitive. Numerous competitive factors could impair our ability to maintain our current profitability.”

Annual report 2025A · The company itself

“Overview We are one of the largest North American less-than-truckload (“LTL”) motor carriers. We provide regional, inter-regional and national LTL services through a single integrated, union-free organization. Our service offerings, which include expedited transportation, are provided through an expansive network of service centers located throughout the continental United States.”

Annual report 2025A · The company itself

“In addition to our core LTL services, we offer a range of value-added services including container drayage, truckload brokerage and supply chain consulting.”

Annual report 2025A · The company itself

“During 2024–2025, these trends have continued to affect demand patterns, particularly for high-value pharmaceuticals and products requiring advanced logistics.”

Annual report 2025A · The company itself

“In 2026, the pharmaceutical distribution market is expected to continue to grow. Value growth is expected to be driven by highvalue pharmaceuticals and products requiring advanced logistics.”

Annual report 2025A · The company itself

“Distribution Costs Distribution costs, including the costs of shipping and handling activities, which include certain merchandising activities, are reported as selling, general and administrative expenses. Shipping and handling expenses were $16.7 billion in 2025, $16.0 billion in 2024 and $15.4 billion in 2023.”

Annual report 2025A · The company itself

“Stor efterfrågan på utsläppsfria lösningar för sjöfarten Marine Under 2024 såg vi en ökande efterfrågan på bränslecellslösningar inom marinsegmentet. Utvecklingen drivs av både frivilliga åtaganden från företag och regleringar för sänkta utsläpp inom sjöfarten.”

Annual report 2024A · The company itself

“I slutet av året genomfördes en riktad nyemission om 5,75 miljoner aktier, genom vilken Powercell tillfördes cirka 190 MSEK före emissionskostnader. Nyemissionen genomfördes med syftet att fortsätta stödja OEM-kommersialiseringsfasen samt accelerera utvecklingen av nya produkter och applikationer.”

Annual report 2024A · The company itself

“Olika teknologiska lösningar hos kunderna PowerCell arbetar med ett flertal kunder inom sjöfartsindustrin och under 2023 tecknade PowerCell en order med den norska integratören SEAM vilket är världens största vätgasprojekt hittills i marinindustrin. Avtalet omfattar leveranser av vätgaslösningar till två fartyg som ska trafikera en av Norges längsta färjelinjer. Det är den norska transportkoncernen Torghatten Nord som ska leverera färjorna som när dom är färdigställda vardera kommer ha en kapacitet på 599 passagerare, 120 personbilar och tolv långtradare. PowerCell ska leverera Marine System 200 som gör det möjligt för färjorna att producera sammanlagt cirka 13 MW effekt.”

Annual report 2024A · The company itself

“Vi blir en del av EU-projektet H2Marine med mål att utveckla de mest kraftfulla marina bränslecellerna� Projektet innebär att vi kan förbättra vår befintliga bränslecellsplattform i ett segment där vi ligger i framkant genom design, utveckling, testning och distribution av PEMbränslecellsstackar som genererar 250-300 kW elektricitet� Vi samarbetar med Hitachi Energy, Göteborgs Hamn, Skanska, Volvo Group och Linde Gas för att möjliggöra hållbar kraftproduktion och demonstrera nästa steg mot en grönare hamnverksamhet� PowerCell har tillsammans med Hitachi Energy utvecklat en ny produkt kallad HyFlex™� Produkten är en flexibel containerlösning som kan användas i en lång rad tillämpningar för utsläppsfri kraftproduktion� Vi tecknar en order på två 100 kW marina bränslecellssystem från O�S� Energy för det hållbara fartygsprojektet Transship II� Denna order innebär en betydande utvidgning av PowerCells erbjudande till segmentet mindre kommersiella fartyg och fritidsfartyg, inklusive både eftermonteringar och nybyggnationer, och visar att tekniken är redo för en bredare marknad� Juli Sep.”

Annual report 2024A · The company itself

“Under året fick Bolaget även ett principgodkännande (Approval in Principle – AiP) från Den Norske Veritas (DNV) för den nya Methanol-to-Power-lösningen, en fullt integrerad metanolreformer- och bränslecellsystem som kan erbjuda ett betydande steg i den maritima industrins övergång till renare energi. Systemet kan drivas enbart på metanol och riktar sig till kunder med begränsad tillgång till vätgas och vätgastankningslösningar, vilket ofta är fallet i hamnar och off-grid system.”

Annual report 2024A · The company itself

“Under året tecknade PowerCell en av världens hittills största ordrar av marina bränslecellssystem med en ledande italiensk marin OEM-tillverkare som ska installeras på kommersiella kryssningsfartyg. Tillsammans med tidigare stora marinordrar visar det att PowerCell är ledande leverantör av vätgaselektriska lösningar till detta segment.”

Annual report 2024A · The company itself

“A disruption within our logistics or supply chain network could adversely affect our ability to timely and efficiently transport merchandise to our stores or our distribution centers, which could impair our ability to meet customer demand for products and result in lost sales or increased supply chain costs.”

Annual report 2026A · The company itself

“A disruption within our logistics or supply chain network could adversely affect our ability to timely and efficiently transport merchandise to our stores or our distribution centers, which could impair our ability to meet customer demand for products and result in lost sales or increased supply chain costs. Such disruptions may result from public health issues such as pandemics, cyberattacks, damage or destruction to our distribution centers, equipment failures, weather-related events, natural disasters, power outages, fires, trade restrictions, tariffs, third-party strikes or ineffective cross-dock operations, work stoppages or slowdowns, shipping capacity constraints, supply or shipping interruptions, or other factors beyond our control.”

Annual report 2026A · The company itself

“Under 2024 har logistikfastigheter, inklusive lager och lätt industri, stått för 18% av den totala transaktionsvolymen, motsvarande 25,5 miljarder kronor för helåret. Detta gör segmentet till det näst största efter bostäder och visar att marknaden för logistikfastigheter fortsatt är stark, och även i linje med den höga andel som sågs under 2023.”

Annual report 2024A · The company itself

“För att ge bästa möjliga service till hyresgästerna upphandlas fastighetsskötare och drifttekniker av samarbetspartners och det görs lokalt på de orter där bolagets fastigheter är placerade. SLP:s hyresgäster ska alltid känna sig trygga med att SLP finns nära tillhands och tillgodoser behov, detta så att hyresgästerna kan fokusera på sin kärnverksamhet.”

Annual report 2024A · The company itself

“Bolagets fastighetsbestånd omfattar både stora moderna logistikanläggningar och mindre fastigheter som är optimala för citylogistik. Vid årets utgång omfattade fastighetsbeståndet 110 fastigheter med en sammanlagd uthyrningsbar yta om 1 149 tkvm, inklusive pågående nybyggnationsprojekt.”

Annual report 2024A · The company itself

“Hyresgästerna är verksamma inom många olika branscher, varav de största är transport och logistik respektive handel med livsmedel. Diversifiering av branschtillhörighet bedömer vi minskar risken för vakans och hyresförluster.”

Annual report 2024A · The company itself

“Fastigheterna har dels hyresgäster av hög kvalitet, PostNord är den största, och dels hyreskontrakt som ökar vår genomsnittliga hyresduration.”

Annual report 2024A · The company itself

“We are dependent on our vendors, independent contractors, and other third parties (including common carriers) to supply merchandise to our distribution centers, stores, and guests. If our replenishment and fulfillment network does not operate properly, if we are unable to timely import certain merchandise, if a vendor fails to deliver on its commitments, or if common carriers have difficulty providing capacity to meet demands for their services as has happened in the past, we could experience merchandise out-of-stocks, delays in shipping and receiving merchandise, and increased costs, which could adversely affect our reputation and results of operations.”

Annual report 2026A · The company itself

“We rely on third parties to support our business operations, including portions of our technology infrastructure (including certain generative artificial intelligence services), digital platforms, replenishment and fulfillment operations, store and supply chain infrastructure, delivery services (including by independent contractors via our Shipt subsidiary), guest contact centers, payment processing, digital advertising offerings, and extensions of credit for our Target-branded payment card program.”

Annual report 2026A · The company itself

“We have made, and expect to continue to make, significant investments in our technology infrastructure, digital platforms, and supply chain infrastructure.”

Annual report 2026A · The company itself

“Because we rely heavily on third-party package-delivery services, a significant disruption in these services or significant increases in prices may disrupt our ability to ship products, increase our costs and lower our profitability. We ship a significant portion of our products to our customers through independent package delivery companies, such as Federal Express in the U.S. and DHL in Europe.”

Annual report 2025A · The company itself

“Macroeconomic conditions, including inflation and elevated interest rates, as well as labor, transportation, and shipping cost pressures, have had, and may continue to have, a negative impact on our business, financial condition, profitability, 13 Table of Contents and cash flows.”

Annual report 2026A · The company itself

“As of the end of fiscal 2025, Ulta U.S. operates four regional distribution centers and two market fulfillment centers that support both stores and e-commerce demand, and one fast fulfillment center that supports e-commerce orders only. Market fulfillment centers are smaller than regional distribution centers and focus on the most productive products, enabling us to improve service and responsiveness, especially in markets with high store and population density.”

Annual report 2026A · The company itself

“Product is delivered to stores using a broad network of contract and local pool (final mile) carriers.”

Annual report 2026A · The company itself

“Disruptions to our regional network and United Express flights provided by third-party regional carriers could adversely affect our business, operating results and financial condition. While the Company has contractual relationships that are material to its business with various regional carriers to provide regional aircraft service branded as United Express that include contractually agreed performance metrics, each regional carrier is a separately certificated commercial air carrier, and the Company does not control the operations of these carriers.”

Annual report 2025A · The company itself

“Operations The Company transports people and cargo throughout North America and to destinations in Asia, Europe, Africa, the Pacific, the Middle East and Latin America.”

Annual report 2025A · The company itself

“Air Cargo. The Company provides freight and mail transportation services ("Air Cargo"). The majority of Air Cargo services are provided to commercial businesses, freight forwarders, logistics firms and national postal services.”

Annual report 2025A · The company itself

“Disruptions in the supply of key inputs or transportation services could have a significant effect on manufacturing operations. This could, for example, result in interruption or downscaling production, change in the product mix or increased costs resulting from price increases for critical inputs or transportation services as well as shifts in the availability and price of wood.”

Annual report 2025A · The company itself

“In the U.S., McLane Foodservice, Inc. is the distributor for the majority of items used in Company-owned restaurants and for a substantial number of franchisee restaurants.”

Annual report 2025A · The company itself

“If the third-party aggregators that we utilize for delivery, cease or curtail their operations, fail to maintain sufficient labor force to satisfy demand, provide poor customer service, materially change fees, access or visibility to our products, or give greater priority or promotions to our competitors, our business may be negatively impacted. In addition, third-party delivery aggregators typically charge restaurants a per order fee, and as such utilizing third-party delivery may not be as profitable as sales directly to our customers, and may also introduce food quality and customer satisfaction risks outside of our control.”

Annual report 2025A · The company itself

“RSCS manages our relationship with McLane Foodservice, Inc. (“McLane”) which serves as the largest distributor for the Company’s KFC, Taco Bell and Pizza Hut Concepts in the U.S.”

Annual report 2025A · The company itself

“Logistics & Services 15,103 ... A.P. Moller - Maersk consolidated 53,988”

Annual report 2025B · From the report

“Terminals 5,339 ... A.P. Moller - Maersk consolidated 53,988”

Annual report 2025B · From the report

“Terminals are uniquely positioned to help both shipping line and landside customers, with ~75%/25% of revenue”

Annual report 2025A · The company itself

“Improving life for all by integrating the world Maersk is an integrated logistics company connecting and simplifying its customers’ supply chains. As a global leader in logistics services, the company has 100,000+ customers, operates in almost 130 countries and employs 100,000+ people. Maersk delivers innovative, reliable ocean network solutions, offers truly integrated logistics products and operates advanced container terminals, both gateways and hubs, with 60+ locations globally.”

Annual report 2025A · The company itself

“Strengthened and expanded logistics capabilities We continued to advance our Logistics & Services business, delivering improved profitability and operational performance in 2025. Despite this progress, we are not yet at our full potential across all areas. We are committed to improving the performance levels of our logistics activities.”

Annual report 2025A · The company itself

“Managed by Maersk offers Customs brokerage services, Lead Logistics, Cold Chain Logistics and Project Logistics, enabling customers to outsource part of their supply chain. Fulfilled by Maersk offers Warehousing (consolidation, deconsolidation, fulfilment), Cold Storage, Ground Freight, Depot operations and e-commerce logistics solutions, supporting integrated fulfilment solutions to improve customer consolidation. Transported by Maersk offers Landside Transportation, Air, Less than Container Load (LCL), Full Container Load (FCL) and Cargo Risk Management products, to facilitate supply chain control across Maersk. • Equipment electrification • Site energy efficiency • Integration of renewable electricity For more details, see climate change in the sustainability statement, pages 63-78.”

Annual report 2025A · The company itself

“At the heart of the Integrator strategy, Ocean ensures that goods keep moving across the world, providing customers with a unique offering, combining flexibility and stability to manage and simplify their end-toend supply chains. While providing access to a competitive global network, Ocean offers resilient solutions and differentiated value propositions through its global network and digital products to fit the diverging customer needs and enhance long-term partnerships.”

Annual report 2025A · The company itself

“Terminals are uniquely positioned to help both shipping line and landside customers, with ~75%/25% of revenue, respectively, to grow their business and achieve better supply chain efficiency, flexibility and dependability. • Equipment electrification • Integration of renewable electricity For more details, see climate change in the sustainability statement, pages 63-78.”

Annual report 2025A · The company itself

“Within the maritime market, we expect to retain our strong position.”

Annual report 2024A · The company itself

“Our purpose needs to be more heavily embedded and seen in the business and externally, so we are including strategic initiatives to focus on driving sustainability in energy and oceans.”

Annual report 2024A · The company itself

“Independent engineering, design and analysis consultants working across marine markets: Renewables, Oil & Gas, Maritime, Small Craft & Defence and Infrastructure.”

Annual report 2024A · The company itself

“Since then, it has evolved to become a worldleading provider of marine and engineering consultancy services to the maritime industry supporting in pre and post-loss scenarios.”

Annual report 2024A · The company itself

“ABL Group serves three main industries oil and gas, along with renewables and maritime - industries which experience volatile business cycles.”

Annual report 2024A · The company itself

“ABL Group has a maritime legacy spanning more than 150 years since the establishment of The Salvage Association. In bringing together the trusted reputations and expertise of AqualisBraemar and LOC, the Group is the leading market provider of loss prevention, loss management and engineering and consulting services to the global maritime industry.”

Annual report 2024A · The company itself

“Shipping ABL's expert team supports international shipping with a full range of engineering and consulting, loss prevention and loss management services.”

Annual report 2024A · The company itself

“Ports and Harbours Ports are critical infrastructure not only to the global maritime community, but to the global transport ecosystem. The offshore energy industry also relies heavily on port infrastructure and availability for through-life support, from construction through to operations and production.”

Annual report 2024A · The company itself

“Sustainability & Energy Transition / Our Services Emissions Consulting ABL provides digital and consultancy solutions to support primarily port, maritime and marine assets in the audit, assessment and abatement (AAA) of their greenhouse gas (GHG) emissions.”

Annual report 2024A · The company itself

“Our AMD Pensando™ DPUs and comprehensive networking software stack offload data center infrastructure services from the host CPU and are used by large Infrastructure as a Service (IaaS) cloud providers to accelerate workload performance for hosted virtualized and bare-metal offerings.”

Annual report 2025A · The company itself

“Divisionen är en ledande aktör inom Divisionen erbjuder ingenjörsoch konsulttjänster inom byggnader, transportinfrastruktur och vatten i Europa.”

Annual report 2024A · The company itself

“Akers investeringer er delt inn i to rapporteringssegmenter; Industrielle investeringer og Finansielle investeringer : Industrielle investeringer Den industrielle porteføljen omfatter Akers langsiktige investeringer og bestod ved utgangen av 2024 av eierskapet i ti selskaper. De fem børsnoterte selskapene var Aker BP, Aker Solutions, Aker BioMarine, Aker Horizons og Solstad Offshore, og de fem unoterte selskapene var Cognite, Solstad Maritime, Aker Qrill Company, SalMar Aker Ocean og Aize.”

Annual report 2024A · The company itself

“In addition, both plants have dedicated rail spurs that provide access to several rail lines to transport product throughout the country.”

Annual report 2025A · The company itself

“På kort sikt har samordningen givit upphov till störningar som lett till längre ledtider i Norge.”

Annual report 2024A · The company itself

“Ett exempel på en viktig åtgärd som slutfördes under året är en ny fraktupphandling i Sverige. Resultatet är förbättrade flöden och ett reducerat antal transportörer, vilket i sin tur ökat fyllnadsgraden i befintliga bilar.”

Annual report 2024A · The company itself

“Alligos logistikfunktion förser butiker och kunder över hela Norden med varorna de behöver för att fungera.”

Annual report 2024A · The company itself

“There is an inherent risk of supply chain disruptions, due to infrastructure breakdowns or congestion where delays can lead to higher freight rates. Furthermore, increased demand and/or supply shortages may lead to increased raw material and energy costs and a potential delay of orders to our customers.”

Annual report 2025A · The company itself

“We compete, both for new business and for the acquisition of assets, with other public tower companies, such as Crown Castle International Corp., SBA Communications Corporation, Vertical Bridge, Telesites S.A.B. de C.V. and Cellnex Telecom, S.A., wireless carrier tower consortia and private tower companies, private equity sponsored firms, carrier-affiliated tower companies, independent wireless carriers, tower owners, broadcasters and owners of non-communications sites, including rooftops, utility towers, water towers and other alternative structures.”

Annual report 2025A · The company itself

“I fastighetsbeståndet ingår även Valhall Park i Ängelholm och Ljungbyhed Park i Ljungbyhed med totalt 13 fastigheter på en yta om cirka 600 hektar med en mångfald av verksamheter inom både privat och offentlig sektor. Båda företagsparkerna omfattar såväl flexibla kontor som logistikfastigheter samt lätt industri tillsammans med tillhörande service som boende, utbildningslokaler, konferenscentrum, sporthallar och samhällsservice.”

Annual report 2024A · The company itself

“I tråd med konsernets langsiktige strategi om vertikal integrasjon og kontroll over hele verdikjeden, har vi gjennomført tre strategiske oppkjøp: JetCarrier AS, Ovalen AS og 3D Innovation Nordic AS. JetCarrier er positiv, men de to andre investeringene har avdekket betydelige utfordringer.”

Annual report 2024A · The company itself

“Selskapets teknologi og effektive logistikk gir konsernet et betydelig konkurransefortrinn og muliggjør sømløs logistikkstøtte på tvers av konsernets virksomheter.”

Annual report 2024A · The company itself

“Gjennom Jet Carrier AS tilbyr konsernet teknologiske frakt- og logistikkløsninger som effektiviserer distribusjon og logistikkstøtte for egne selskaper og eksterne kunder.”

Annual report 2024A · The company itself

“Marketing. Our reinsurance group generally markets its reinsurance products through brokers, except our property and casualty facultative reinsurance groups, which deal directly with ceding companies along with brokers.”

Annual report 2025A · The company itself

“Piracy and related maritime threats could negatively impact the Company. Crew extractions, potential ransom payments, lease obligations, and expenses related to rerouting vessels to circumvent high-risk areas may result in financial loss.”

Annual report 2025A · The company itself

“The Company’s operations rely on dependable and efficient transportation services, the disruption of which could result in difficulties supplying materials to the Company’s facilities and impair the Company’s ability to deliver products to its customers in a timely manner.”

Annual report 2025A · The company itself

“The Company relies on access to navigable rivers and waterways in order to fulfill its transportation obligations more effectively.”

Annual report 2025A · The company itself

“In addition, its integrated grain sourcing, handling, and multimodal transportation network supports global import, export, and distribution activities and provides essential services to customers and the Company’s processing operations.”

Annual report 2025A · The company itself

“To support sales activities, ArcticZymes has established strategically located warehouses and logistic centres in Europe and the United States. These centres have made it possible to build inventories and safety stocks, improve the cost- effectiveness of logistics, and most importantly, ensure on-demand delivery to customers on a global basis.”

Annual report 2024A · The company itself

“Arjo har identifierat utmaningar inom transportområdet och arbetar för att identifiera säkra, effektiva och hållbara transportvägar och -lösningar.”

Annual report 2024A · The company itself

“Marine focus on the Maritime sector. BA Marine’s competencies are the development, implementation, and consulting of the owned asset management system solutions: Infoship.”

Annual report 2024A · The company itself

“Supply chain difficulties may result in product shortages which could lead to lost product sales and materially affect our reputation and results of operations. • Establishment of new manufacturing facilities, creating capacity and technical capability to support new product launches. • Contingency plans, including dual sourcing, multiple suppliers and close monitoring and maintenance of stock levels. • Business continuity and resilience initiatives, disaster and data recovery, and emergency response plans. • Quality management systems.”

Annual report 2025A · The company itself

“Sales and Marketing The Group has positioned itself over the last decade with strong relationships with retailers, food service players, distributors, and other selected partners.”

Annual report 2024A · The company itself

“Flexible purchasing and logistics are of great importance. Purchased components account for approximately 75% of the production cost of equipment, while the remaining 25% are internally manufactured core components, assembly costs and overhead.”

Annual report 2024A · The company itself

“The Group primarily distributes products and services directly to the end customer. If the distribution is not efficient, it may impact customer satisfaction, sales and profits.”

Annual report 2024A · The company itself

“Currently, our distribution divisions utilize 33 pipeline transportation companies, both interstate and intrastate, to transport our natural gas.”

Annual report 2025A · The company itself

“At August 30, 2025, in 6,098 of our domestic stores as well as the vast majority of our stores in Mexico and Brazil, we had a commercial sales program that provides prompt delivery of parts and other products and commercial credit to local, regional and national repair garages, dealers, service stations, fleet owners and other accounts.”

Annual report 2025A · The company itself

“Solutions Group Our Solutions Group is a leading provider of information and branding solutions that cover worldwide marketplace needs ranging from digital identification and data management to branding and embellishment, productivity, pricing and retail media. Our ultra-high-frequency RFID solutions empower customers across multiple retail and industry segments, including apparel, logistics, food and grocery, and general retail, to connect the physical and digital worlds by enabling a digital identity and life for physical items.”

Annual report 2025A · The company itself

“IT, media, underhållning, 8% (8) Medlemsorganisationer, föreningar 6% (6) Handel, 7% (7) Transport/logistik, 7% (6) Telekom, 4% (4) Övrigt, 7% (9) Myndighet, kommun, 16% (13) INTÄKTER PER BRANSCH 2024 Några av B3s kunder Almi, Arbetsförmedlingen, Bliwa, Epiroc, FAR, Filmstaden, Försäkringskassan, Handelsbanken, Hyresgästföreningen, Inera, Jordbruksverket, Lantmäteriet, Länsförsäkringar, Sveriges Lärare, Parks and Resorts, Polismyndigheten, Preem, Region Skåne, Region Stockholm, Sandvik, SEB, SGDS-gruppen, SJ, Skandia, Skatteverket, Skolverket, SMHI, Stena, Sundsvalls kommun, Sveaskog, Svenska kyrkan, Svenskt Näringsliv, SVT, Swedbank, Telenor, Telia, Trafik förvaltningen (SL), Trafikverket, Transportstyrelsen, Valmyndigheten, Vattenfall, Volvo, Västra Götalandsregionen.”

Annual report 2024A · The company itself

“Boteks verksamhet ger kunderna optimerade och effektiva lösningar för avfallshantering.”

Annual report 2024A · The company itself

“Inom området resurseffektivitet och avfallshanteringssystem har Boteks robusta fordonsmonterade vågar för mobil vägning, kombinerat med RFID-registrering och ett dynamiskt system för detaljerad avfallsstatistik. Det ger kunderna optimerade och mer effektiva avfallshanteringslösningar.”

Annual report 2024A · The company itself

“Beijer Ref distribuerar företrädesvis sina produkter genom ett eget filialnätverk och via egna logistikcenter som finns på varje marknad. Därtill äger Beijer Ref sex fyllningsstationer för köldmedier.”

Annual report 2024A · The company itself

“För lagerhållning och distribution har Beijer Ref både en lokal och regional strategi. Koncernen har cirka 40 logistikcenter och 500+ filialer som är specialiserade på effektiv produktleverans vilket ger snabb tillgång till service, underhåll och reparation.”

Annual report 2024A · The company itself

“Koncernens lagerstrategi har under de senaste åren gått från att ha en lokal inriktning med flera distributionscenter i varje land till att ha ett mer nationellt och regionalt fokus. Beijer Ref har därför slagit ihop lager på ett antal marknader och skapat distributionscenter som täcker flera bolag.”

Annual report 2024A · The company itself

“Möjligheter till förbättringar inom områden som inköp och logistik utnyttjas löpande, och bolagets globala distributionsnätverk med över 500 filialer i 45 länder är en avgörande konkurrensfördel.”

Annual report 2024A · The company itself

“Beijer Ref koncernen är en av världens största kylgrossister fokuserade på handels- och distributionsverksamhet inom kommersiell och industriell kyla samt luftkonditionering.”

Annual report 2024A · The company itself

“Samtidigt tar omställningen fart i logistikcenter, processindustrier, bensinmackar och inom HORECA.”

Annual report 2024A · The company itself

“The Rail & Leasing group manufactures, leases and maintains railcars; leases intermodal tank containers; manufactures mobile railcar movers; provides in-plant rail switching and loading services; and performs track construction and maintenance.”

Annual report unknown yearA · The company itself

“Other XTRA Corporation (“XTRA”), headquartered in St. Louis, Missouri, is a leading transportation equipment lessor operating under the XTRA Lease® brand name. XTRA manages a diverse fleet of approximately 90,000 units located at 47 facilities throughout the U.S. The fleet includes over-the-road and storage trailers, chassis, temperature-controlled vans and flatbed trailers.”

Annual report unknown yearA · The company itself

“Pilot’s travel centers are generally located close to an interstate highway and offer petroleum products, merchandise, food and other services and amenities to consumers, travelers and professional truck drivers.”

Annual report unknown yearA · The company itself

“KMC Properties invests in industrial and warehouse properties due to the segment’s high returns, long lease agreements, and stable occupancy rates.”

Annual report 2023A · The company itself

“Since our inception in 2020, KMC Properties has had a clear strategy and vision of becoming the preferred real estate partner for logistics and industrial companies, proven resilient in changing macroeconomic conditions.”

Annual report 2023A · The company itself

“Solidity of the tenants, the long-term rental contracts, and the strategic importance of the location of the properties are key elements of the strategy.”

Annual report 2023A · The company itself

“KMC Properties’ objective is to be the preferred partner for logistic and industrial companies with a strategic focus on Northern Europe. The company invests primarily in logistics and industrial properties due to high returns, long lease agreements and stable occupancy rates in the commercial property segment.”

Annual report 2023A · The company itself

“Bilia är en av Europas största helhetsleverantörer för allt som rör bilägandet med en ledande position inom service och försäljning av nya och begagnade person bilar, transportbilar och lastbilar.”

Annual report 2024A · The company itself

“BlueNord is active in the Danish North Sea with a 36.8 percent non-operated working interest in the DUC The Danish Underground Consortium (DUC) comprises fifteen fields, three export pipelines (owned by Ørsted) and significant infrastructure. Oil and gas are produced from four operational hubs, and overall the DUC accounts for nearly 90 percent of the oil and gas produced in Denmark. The three pipelines secure exports from the hubs to the Danish mainland and international markets.”

Annual report 2024A · The company itself

“Global Services sustains aerospace platforms and systems with a full spectrum of products and services, including supply chain and logistics management, engineering, maintenance and modifications, upgrades and conversions, spare parts, pilot and maintenance training systems and services, technical and maintenance documents, and digital solutions and analytics.”

Annual report 2025A · The company itself

“Boozts funktionsdugliga infrastruktur utgör en konkurrensfördel. Beställningar levereras vanligtvis inom 1–2 dagar, vilket innebär att Boozt uppfyller nordiska konsumenters förväntningar på snabbhet och pålitlighet.”

Annual report 2024A · The company itself

“Logistik och lagerhantering är hörnstenar i Boozts affärsmodell där vårt hanteringscenter i Ängelholm möjliggör snabba leveranser och effektiva returer. Verksamheten där är optimerad så att kostnaderna minskas samtidigt som snabbheten och pålitligheten ökar, faktorer som bidrar till en bra kundupplevelse.”

Annual report 2024A · The company itself

“Hanteringscentrets strategiska läge i södra Sverige gör att vi kan uppfylla vårt löfte om snabba och pålitliga leveranser. 90% av alla ordrar levereras inom 1–2 dagar, en effektivitet som är avgörande för att leva upp till de nordiska konsumenternas höga förväntningar.”

Annual report 2024A · The company itself

“Kontroll över hela värdekedjan Något som utmärker Boozt är vårt beslut att ha kontroll över hela värdekedjan. Till skillnad från många konkurrenter som förlitar sig på externa leverantörer till kärnverksamheten har Boozt byggt upp en integrerad modell som säkerställer kvalitet, effektivitet och flexibilitet i verksamhetens alla led.”

Annual report 2024A · The company itself

“Att äga värdekedjan Boozts affärsmodell bygger på att behålla kontroll över hela värdekedjan. Detta möjliggör verksamhetsoptimering och hög flexibilitet samtidigt som en smidig köpupplevelse säkerställs.”

Annual report 2024A · The company itself

“I Boozts strävan efter att ha kontroll över verksamheten samarbetar vi med distributörer för att få en bild av vilka konsekvenser våra leveranser och returer har på miljön. Vår metod att sköta logistik och verksamhet själva minskar miljöpåverkan, att hanteringen av returer sker lokalt på vårt hanteringscenter innebär att utsläppen per order minskar.”

Annual report 2024A · The company itself

“Omsetning per sektor Helse og sosial 1,4 % Industri 3,7 % Info og kommunikasjon 2,1 % Kraftforsyning 20,4 % Off. adm. og forsvar 17,8 % Olje, gass og fornybart 40,5 % Tjenesteyting 6,0 % Transport 4,3 % Varehandel 2,5 % Andre 1,2 % Intro | Våre nøkkeltall Intro | Våre nøkkeltall 5 5 Om Bouvet I dagens samfunn er digitalisering en avgjørende faktor for virksomheters leveranseevne og konkurransekraft.”

Annual report 2024A · The company itself

“Oversikten viser sektorene som utgjør den største andelen av omsetningen i konsernet Sektor Jan-Des 2024 Kraftforsyning 20,4 % Helse og sosial 1,4 % Industri 3,7 % Informasjon og kommunikasjon 2,1 % Off. adm. og forsvar 17,8 % Olje, gass og fornybart 40,5 % Tjenesteyting 6,0 % Transport 4,3 % Varehandel Konsernets kunder har store komplekse og gjensidig avhengige behov innen digitalisering og bærekraft.”

Annual report 2024A · The company itself

“We rely on government-sponsored postal services and third-party carriers to deliver communications and changes in our relationships with these carriers or an increase in postal rates or shipping costs may adversely impact demand for our products and services and could have an adverse impact on our business and results of operations. We rely upon the United States Postal Service (“USPS”), Canada Post, other government-sponsored postal services globally, and third-party carriers, such as the United Parcel Service, for timely delivery of communications on behalf of our clients.”

Annual report 2026A · The company itself

“Sudden discontinued service from key service providers could disrupt AO's ability to deliver goods timely or negatively impact the efficiency of the logistics. A lack of ability to live up to AO's commitments towards customers could result in loss of business affecting revenue and earnings.”

Annual report 2025A · The company itself

“Further, as a leading supplier and manufacturer of building materials, manufactured components and construction services, we operate a fleet of commercial motor vehicles, including semi-tractor trailer trucks, flatbed trucks, and forklifts. Accordingly, a safety incident involving our commercial fleet could result in material economic damages, as well as injuries and/or death, for our employees and any other parties involved.”

Annual report 2025A · The company itself

“In addition, we operate a fleet of approximately 19,300 rolling stock units which includes trucks, forklifts, and trailers used to deliver products from our distribution and manufacturing centers to our customers’ job sites. Through our emphasis on local market flexibility and strategically placed locations, we minimize shipping and freight costs while maintaining a high degree of local market expertise.”

Annual report 2025A · The company itself

“Dette er verdiøkende for Forestia og kundene, og i tillegg får vi en miljøgevinst gjennom mer effektiv transport av varer. I 2024 hadde vi en salgsvekst av kryssfinér- og OSB-plater på MNOK 43,7 (70,2 %) sammenlignet med 2023. Dette bekrefter at denne løsningen vi tilbyr er attraktiv hos våre kunder.”

Annual report 2024A · The company itself

“Our proprietary technology connects 75,000 customers and 450,000 contract carriers. We work closely with a global network of transportation companies, including motor carriers, railroads, and ocean and air carriers.”

Annual report 2025A · The company itself

“As an integral part of our transportation services, we also provide a wide range of value-added logistics services, such as freight consolidation, drop trailer, cross-border logistics, customs brokerage and trade compliance, supply chain consulting and design, and fully managed third-party logistics (“3PL”) and fourth-party logistics (“4PL”) solutions.”

Annual report 2025A · The company itself

“Global Forwarding provides transportation and logistics services through an international network of offices in North America, Europe, Asia, Oceania, South America, and the Middle East and also contracts with independent agents worldwide. The primary services provided by Global Forwarding include ocean freight services, air freight services, and customs brokerage.”

Annual report 2025A · The company itself

“We provide pharmaceuticals and medical products and cost-effective services and solutions that enhance the healthcare system and supply chain efficiency.”

Annual report 2026A · The company itself

“from direct distribution to multi-layered distributor networks tailored to local customs andlogistics”

Annual report 2025A · The company itself

“We have developed proprietary logistics software and an in-house nationwide delivery network designed to predictably and efficiently transport cars and provide customers with a distinctive fulfillment experience. Our logistics network and technologies that support it are based on a "hub and spoke" model, which connects Reconditioning Sites to vending machines and hubs via our fleet of multi-car and single-car haulers.”

Annual report 2025A · The company itself

“Principal Investments intäkter ökade däremot främst på grund av försäljningen av logistikprojektet Polaxis. Föregående års intäkter inkluderade avyttringar av projekten Infrahubs Vaggeryd och Barcelona Logistics.”

Annual report 2024A · The company itself

“Under 2024 avyttrade Principal Investments logistikprojektet Polaxis, Barcelona Logistics färdigställdes och levererades till kund och Metz-Eurolog genererade intäkter för uppnådda kontraktsmässiga milstolpar under året.”

Annual report 2024A · The company itself

“Cat Financial finances a significant portion of Caterpillar dealers’ sales and inventory of Caterpillar equipment throughout the world. Cat Financial’s competitive position is improved by marketing programs offered in conjunction with Caterpillar and/or Caterpillar dealers.”

Annual report 2025A · The company itself

“Backed by one of the largest independent global dealer networks and financing services through Cat Financial, the company’s primary business segments: Power & Energy, Construction Industries and Resource Industries are solving customers’ toughest challenges through commercial excellence and advanced technology, driven by a highly skilled, dedicated global team.”

Annual report 2025A · The company itself

“In addition to purchasing products and certain services directly from our vendor partners, we purchase products and certain services from wholesale distributors for resale to our customers or for inclusion in the solutions we offer. These wholesale distributors provide logistics management and supply-chain services for us, as well as for our vendor partners.”

Annual report 2025A · The company itself

“Leveraging our distribution and logistics capabilities, we handle and ship approximately 22 million units annually on an aggregate basis from our distribution centers.”

Annual report 2025A · The company itself

“CenterPoint Energy’s and CERC’s natural gas distribution businesses transport their natural gas supplies through various intrastate and interstate pipelines under contracts with remaining terms, including extensions, varying from one to fifteen years.”

Annual report 2025A · The company itself

“Over 16% of our 2025 food and beverage revenue consisted of delivery orders for which we are reliant on third-party delivery companies. Depending on which ordering platform a guest uses – our brand platform or the third-party delivery platform – the delivery fee we collect from the guest may be less than the actual delivery cost.”

Annual report 2025A · The company itself

“We market our insurance and reinsurance worldwide primarily through insurance and reinsurance brokers.”

Annual report 2025A · The company itself

“Marsh & McLennan Companies, Inc. generated or placed approximately 11 percent of our gross premiums written for each of the years ended December 31, 2025, 2024, and 2023. This entity is a large, well-established company, and there are no indications that it is financially troubled at December 31, 2025.”

Annual report 2025A · The company itself

“At May 31, 2026, Cintas, in total, had approximately 12,500 local delivery routes, 484 operational facilities and 12 distribution centers.”

Annual report 2026A · The company itself

“The Sundby wind farm further illustrates how establishing a power plant can boost local industry. A grid connection built specifically for the plant acted as a catalyst for additional local investments by providing easier grid access for third parties. This connection spurred the construction of several warehouses and logistics facilities that now employ approximately 3 000 people, demonstrating how the plant’s presence has driven local economic growth.”

Annual report 2024A · The company itself

“Our P&R segment includes manufacturers, automakers, retailers, consumer goods companies, aerospace and defense companies, and travel and hospitality companies, as well as businesses providing logistics, energy and utility services. Demand in this segment is driven by our clients’ focus on improving the efficiency and sustainability of their operations; the enablement and integration of business platforms to support sales and customer experience enhancement initiatives; the generational shift from mechanical to software-defined, experience-driven customer interactions; grid modernization to support a consumer-driven energy landscape that enables cleaner, more efficient energy use; and their adoption and integration of AI and other technologies, such as intelligent systems to manage supply chains and enhance overall customer experiences, and IoT to generate data and insights for factories, fleets, products and real estate companies.”

Annual report 2025A · The company itself

“SAL Navigation, med huvudkontor i Stockholm (Sverige) är ett av världens ledande företag inom specialnischade navigationssystem som integrerade fartygsloggar, marina färdskrivare och avancerade positioneringssystem.”

Annual report 2024A · The company itself

“Matre Maskin, grundat 1953, är en välrenommerad leverantör av produkter, system och tjänster för den globala sjöfarts- och offshoreindustrin, med fokus på brandbe - kämpningslösningar, kalibreringsutrustning, specialpumpar, reservdelar, service och support.”

Annual report 2024A · The company itself

“En navigationslogg används för att mäta ett fartygs fart och räkna ut dess tillryggalagda sträcka. SAL Navigation har en bred produktportfölj som täcker alla typer av kommersiella fartyg och bolagets loggar har installerats på en stor mängd fartyg världen över.”

Annual report 2024A · The company itself

“Det största applikationsområdet utgörs av havsbaserade anlägg - ningar och större fartyg.”

Annual report 2024A · The company itself

“Our ability to sell and deliver the crude oil, bitumen, LNG, natural gas and NGLs that we produce also depends on the availability, proximity and capacity of gathering, processing, compression, transportation and pipeline facilities and equipment, as well as any necessary diluents to prepare our crude oil, bitumen, LNG, natural gas and NGLs for transport. The facilities, equipment and diluents we rely on may be temporarily unavailable to us due to market conditions, extreme weather events, permitting delays and other regulatory matters, mechanical reasons or other factors or conditions, many of which are beyond our control.”

Annual report 2025A · The company itself

“The inability of Customers and suppliers to access liquidity could impact our ability to produce and distribute our products.”

Annual report 2026A · The company itself

“The strength of our brands makes us a supplier of choice to many of our consumers and our Customers, which include wholesale distributors and retailers.”

Annual report 2026A · The company itself

“In the U.S., our products are primarily distributed by wholesale distributors, and we generally use separate distribution networks for (i) our beer portfolio and (ii) our wine and spirits portfolio.”

Annual report 2026A · The company itself

“Marknaden står dock inför flera utmaningar, inklusive fortsatta brister i leveranskedjorna, vilket har lett till minskad produktionskapacitet och längre ledtider.”

Annual report 2024A · The company itself

“We also rely on third-party logistics providers for storage and distribution of our components and products. Because we have limited control over their operations, any disruption in these relationships—whether due to labor shortages, transportation delays, capacity constraints—could adversely affect our ability to deliver products to customers on time and result in increased costs, reputational harm and potential liability. If we are unable to promptly transition to alternative providers in the event of a disruption, our business, financial condition, and results of operations could be materially and adversely affected.”

Annual report 2025A · The company itself

“We manage and report our operating results through the following three reportable segments: Corporate Payments, Vehicle Payments and Lodging Payments. The remaining results are included within Other, which includes our Gift and Payroll Card businesses.”

Annual report 2025A · The company itself

“Our e-commerce operations depend heavily on logistics providers, both internal and external, and are negatively affected when services are unable to be provided in a timely fashion.”

Annual report 2025A · The company itself

“Även Instabee (SEK –70 mn/–13 procent) går in i 2025 med viss medvind. Sedan Instabox grundare Alexis Priftis övertog vd-rollen för ett drygt år sedan har bolaget tagit rejäla kliv i att få ut fördelarna från sammanslagningen av Instabox och Budbee. I synnerhet skåpaffären utvecklas starkt och levererar fina resultat på den svenska hemmamarknaden vilket även ger en fingervisning om den potential som finns att hämta då övriga geografier når liknande skala.”

Annual report 2024A · The company itself

“Our Connected Portfolio CRH’s connected portfolio of value-added building materials, products and services serves transportation and critical infrastructure construction (including highways, bridges, rail, water, energy and telecommunications projects), reindustrialization activity (including manufacturing and data center projects) and commercial and residential markets across North America, Europe and Australia.”

Annual report 2025A · The company itself

“Ferry Division 17.0bn Revenue”

Annual report 2025B · From the report

“Logistics Division 15.7bn Revenue”

Annual report 2025B · From the report

“Key freight customers are forwarders and hauliers for port-to-port transport of trailers”

Annual report 2025A · The company itself

“The network was expanded by a new freight ferry route between the Netherlands and Spain as well as a full-year of operations on the route opened in late 2024 between Egypt and Italy. In addition, ferry services for the island of Jersey across four routes were started in March 2025 following the award of a 20-year operating concession. A new space charter agreement was late in 2025 entered into on the Baltic Sea to improve efficiency and scope to mitigate the impact of the war in Ukraine.”

Annual report 2025A · The company itself

“An agreed expansion in 2026 of the main route, Algeciras-Tanger Med, with two ferries awaits regulatory approval.”

Annual report 2025A · The company itself

“Organic growth of 9% was achieved in partnership with the top 30 Enterprise customers – large customers using multiple products of the network – underpinned by the transport network’s reliability and high customer service levels.”

Annual report 2025A · The company itself

“To enhance the efficiency and scope of our Baltic Sea ferry network, a space charter agreement with TT Line was entered into in August 2025, effective from October 2025.”

Annual report 2025A · The company itself

“Monday, 17:30 Our transport network is mainly structured around trading corridors that overlap with our ferry routes.”

Annual report 2025A · The company itself

“DFDS A/S DFDS A/S · Marmorvej 18 · DK 2100 Copenhagen Ø · +45 3342 3342 · www.dfds.com · CVR 14 19 47 11 DFDS A/S · Marmorvej 18 · DK 2100 Copenhagen Ø · +45 3342 3342 · www.dfds.com · CVR 14 19 47 11 Annual Report 2025 Turning point ahead Moving goods & people in and around Europe Our network combines ferry, road, and rail transport with complementary logistics solutions.”

Annual report 2025A · The company itself

“Various risks and uncertainties pertain to forward-looking statements, such as possible major changes in the demand for ferry services – freight and passengers – as well as road transport and logistics solutions.”

Annual report 2025A · The company itself

“Outlook 2026 Outlook 2026 DKK m Outlook 2026 2025 Revenue Around on level 30,947 EBIT 800-1,100 520 Per division: Ferry Division 1,000-1,200 791 Logistics Division 50-150 -30 Non-allocated items -250 -241 Capital expenditure (Capex) Around -1,700 -994 Operating -1,700 -1,240 Ferries (sale/purchase/new-buildings) 0 246 Adjusted free cash flow Above zero 1,184 Revenue around on level with 2025 EBIT-range of DKK 800-1,100m Adjusted free cash flow above zero Key passenger outlook assumptions for 2026 No major changes are expected in 2026 in the passenger route network.”

Annual report 2025A · The company itself

“Revenue for the top 25 freight ferry (trailer) customers increased 5% in 2025.”

Annual report 2025A · The company itself

““Our warehouse in Wijchen is one of our biggest warehouses in our network with the ability to store over 80.000 pallets. On any given day more than 200 trucks crossdock here transporting goods to more than 15 countries across Europe,” says Patrick Noordzij, Managing Director, DFDS, Wijchen.”

Annual report 2025A · The company itself

“Average number of employees 8,709 6,146 2,563 41.7% Financial performance The Logistics Division’s revenue increased 17.8% to DKK 15,723m and decreased 1.8% adjusted for acquisitions compared to 2024. The adjusted revenue included higher revenue in UK & Ireland, driven by organic growth, offset by lower revenue in Nordic and Continent reflecting a mix of positive organic growth in certain areas and lower revenue from activity adjustments/closures and market headwinds.”

Annual report 2025A · The company itself

“European operators took Key freight customers are forwarders and hauliers for port-to-port transport of trailers with or without the driver accompanying the trailer.”

Annual report 2025A · The company itself

“Market and competitive landscape Market participants are a mix of global and pan-European transport and logistics companies as well as smaller, regional companies specialised in certain geographic corridors, transport modes, and/or customer segments.”

Annual report 2025A · The company itself

“There has been growth across all segments, with a strong performance from the subsea segment where we have experienced a significant growth in the activity level together with improved rates and project margins.”

Annual report 2024A · The company itself

“STYRNING AV HÅLLBARHET OCH DETALJERAD INFORMATION 129 Taxonomi 131 Redovisningsprinciper och definitioner 137 FINANSIELL KALENDER 2025 140 DOMETIC ÅRS- OCH HÅLLBARHETSREDOVISNING 2024 Nettoomsättning per försäljningskanal OEM (Original Equipment Manufacturer), 40% (43) Service & Aftermarket, 29% (28) Distribution 31% (29) 2024 (2023) Nettoomsättning per geografisk region Americas, 58% (58) EMEA, 33% (33) APAC, 9% (9) 2024 (2023) Nettoomsättning, miljarder kronor 24,6 Antal länder som produkter säljs i 100 EBITA-marginal 1) 2024, procent 10,8 Antal medarbetare över hela världen ~7 000 Dometic är ett globalt tech-friluftsbolag med en målsättning att underlätta ett mobilt liv: ”Make mobile living easy”.”

Annual report 2024A · The company itself

“OEM-tillverkare (Original Equipment Manufacturer): Installerade produkter som säljs till tillverkare av RV-fordon, båtar eller CPV-fordon.”

Annual report 2024A · The company itself

“Det kompletta produktutbudet för kunder inom båtbranschen globalt.”

Annual report 2024A · The company itself

“Road 25% of total”

Annual report 2025A · The company itself

“Contract Logistics 27% of total”

Annual report 2025A · The company itself

“With our flexible business model, we have a strong position in an industry which is highly fragmented and competitive with many global and local providers. With our robust logistics expertise, supported by approximately 150,000 skilled freight forwarders, advanced digital capabilities, top-tier service offerings and an extensive global network, we are the leading player in the industry.”

Annual report 2025A · The company itself

“DSV A/S Annual Report 2025 A new global leader in the industry Delivering sustainable growth DSV is a global leader in the freight forwarding and logistics industry. We connect our customers with the world and ensure flexible and efficient supply chains through storage and transport of goods by air, sea and road.”

Annual report 2025A · The company itself

“We connect our customers with the world and ensure flexible and efficient supply chains through storage and transport of goods by air, sea and road. We enable the business of our customers by keeping supply chains flowing – from shipper to consignee.”

Annual report 2025A · The company itself

“Our business model We move freight by land, sea and air and provide contract logistics as well as a wide range of freight forwarding and logistics services at both origin and destination.”

Annual report 2025A · The company itself

“The Road division reported an increase in revenue of 93.0% compared to the previous year.”

Annual report 2025A · The company itself

“Schenker contributed with a lower gross profit margin in Air & Sea, but higher gross profit in both Road and Contract Logistics.”

Annual report 2025A · The company itself

“We enhanced our service portfolio, which includes value-added services such as customs formalities and insurance, while we further developed our supply chain and projects solutions.”

Annual report 2025A · The company itself

“Broadband and Satellite Services ​ We offer broadband satellite technologies and broadband internet products and services to consumer customers. We provide broadband network technologies, managed services, equipment, hardware, satellite services and communications solutions to government and enterprise customers.”

Annual report 2025A · The company itself

“Most of our manufacturing plants also serve as distribution centers. In addition, we operate distribution centers around the world, most of which are leased, and utilize third party logistics service providers to facilitate the distribution of our products and services.”

Annual report 2025A · The company itself

“— Assembly and Testing — Production Distribution & Outbound Services — Pick and Pack — Consolidation and Transit — Global and Local Deliveries — JIS (Just-in-Sequence) — E-commerce Procurement & Inbound Services — Sourcing and Procurement — Customs Services — Freight Solutions — Warehouse and Inventory Management Recipients — Consumers — Retail — E-commerce — Factories — Hospitals All steps of the life cycle On behalf of customers, Elanders manages and optimizes the flow of raw materials, components, finished products, payments and information through all steps of a product’s life cycle.”

Annual report 2024A · The company itself

“The service offering includes everything from order management, procurement, purchasing components, customs management and warehousing to production logistics, manufacturing, configuration, quality control and delivery. The Group also handles payment flows and synchronizing purchasing and warehousing with demand, as well as managing the recycling or resale of returned or discarded products.”

Annual report 2024A · The company itself

“Avoided emissions in thousand tonnes CO e 1) Elanders’ two business areas Through its largest business area Supply Chain Solutions, Elanders is one of the lea ding com panies in the world in global solutions for supply chain management. The range of ser vices includes, among other things, taking responsibility for and optimizing customers’ material and product ows, everything from sourcing and procure ment combined with warehousing to aer-sales services.”

Annual report 2024A · The company itself

“Elanders is a global logistics company offering a broad service range of integrated solutions within supply chain management. The business is mainly operated through two business areas, Supply Chain Solutions and Print & Packaging Solutions.”

Annual report 2024A · The company itself

“While being true experts within the area of print and packaging, we also add value by delivering solutions in every step of the customer’s supply chain, end-to-end and beyond. Starting from the online sales process, where we can supply web shop solutions, online print production, storage and finally invoicing and aftermarket services, where we for instance can manage end customer returns.”

Annual report 2024A · The company itself

“Elanders offers integrated and customized solutions for handling all or part of the customers’ supply chain. The Group can take complete responsibility for complex and global deliveries that may include purchasing, storage, configuration, production and distribution. The offer also includes order management solutions, payment flows and after market services on behalf of the customers.”

Annual report 2024A · The company itself

“The business model focuses on supply chain resilience through geographical diversification, minimising reliance on shipping intermediate products or finished goods across regions.”

Annual report 2024A · The company itself

“This method helps Elopak focus on important categories and countries, specifically raw materials, logistics and transport, filling machines and equipment, maintenance, and catering and cleaning services.”

Annual report 2024A · The company itself

“Vi ser en växande efterfrågan på våra e-Mobility tjänster på samtliga marknader, särskilt från aktörer inom tung transport och logistik.”

Annual report 2024A · The company itself

“ENERSENSE | KESTÄVYYSRAPORTTI | 40 SBM-1 – Strategia, liiketoimintamalli ja arvoketju Enersense toimii asiakkaidensa elinkaarikumppanina energiansiirrossa ja -tuotannossa, teollisuuden energiasiirtymässä, tietoliikenteessä ja datakeskuksissa. Yhtiö suunnittelee, rakentaa, kunnossapitää ja modernisoi kriittistä infrastruktuuria Pohjoismaissa ja Baltiassa. Yhtiöllä on kolme liiketoimintayksikköä: Power, Energy Transition ja Connectivity.”

Annual report 2025A · The company itself

“Enersense tiedotti 8.7.2025, että se myy Enersense Offshore Oy:n eli meriteollisuusyksikkönsä Davielle. Kauppa toteutui 11.7.2025. Kauppahinta oli 7,5 miljoonaa euroa ja kaupasta kirjattiin 1,9 miljoonan euron myyntivoitto.”

Annual report 2025A · The company itself

“Eolus samarbetar också med lokala intressenter i det havsbaserade vindkraftsprojektet Västvind utanför Göteborg. Göteborgs hamn har köpt in sig som delägare i Västvind och äger 5 procent av projektet där Eolus äger resterande 95 procent.”

Annual report 2024A · The company itself

“Med tydligt fokus på kundsegmenten marin, tillverkande industri och applikationer för krävande miljöer, där affärsenheten har särskilt stark ställning, har Beijer Electronics organiserat om försäljning, support och service till en global funktion.”

Annual report 2024A · The company itself

“AFFÄRSENHET BEIJER ELECTRONICS Beijer Electronics erbjudande för den marina sektorn handlar främst om att visualisera data, samt att styra och kontrollera processer ombord.”

Annual report 2024A · The company itself

“Beijer Electronics fokuserar på tre segment där affärsenheten har stark ställning med god lönsamhet, nöjda kunder och ett starkt erbjudande. Det handlar om marina applikationer ombord på fartyg, där Beijer Electronics har lång erfarenhet och hög certifieringsnivå, maskinbyggare inom industri, samt applikationer för särskilt krävande miljöer där väder, damm och andra faktorer ställer höga krav på robusthet och tillförlitlighet.”

Annual report 2024A · The company itself

“Fokussegment 2024 Marknadsposition Potential Marina applikationer stod för 22 procent av försäljningen 2024.”

Annual report 2024A · The company itself

“Marknadssegment i fokus är tåg, järnvägsinfrastruktur, energi, tillverkande industri och marin.”

Annual report 2024A · The company itself

“Affärsenhet Westermo Westermo utvecklar robusta och säkra kommunikationslösningar för krävande miljöer med främsta fokus på tågnätverk där affärsenheten är global marknadsledare inom sin nisch, för järnvägsinfrastruktur och för energiområdet.”

Annual report 2024A · The company itself

“I maj 2024 tillkännagav EQT Real Estate förvärvet av 20 industrifastigheter i Minneapolis, Minnesota, med en total yta på över 460 000 kvadratmeter. Portföljen består av bulk-, lättindustri- och last-mile-anläggningar, med en genomsnittlig byggnadsstorlek på över 19 000 kvadratmeter.”

Annual report 2024A · The company itself

“— EQT Private Capital Asia investerar främst inom tjänster och tekniktjänster, men även i hälso- och sjukvård-, teknik- och industriteknik-sektorerna. — EQT Infrastructure är aktivt inom både värdeskapande och core-infrastruktur globalt.”

Annual report 2024A · The company itself

“Basert på funnene vil oppfølgingstiltak bli planlagt for 2025 .Også ved det andre verftet blir tilsvarende oppfølgingtiltak sammen med relevante parter vurdert. • Industrisamarbeid - verft Vi fortsatte å samarbeide med BP, Ørsted, Shell, TenneT og Petrobras for å videreutvikle Worker Welfare Group, vårt partnerskap som fokuserer på fremmedarbeideres rettigheter og velferd i verftsnæringen. Gruppen har utviklet et sett med prinsipper og retningslinjer for å støtte den maritime verftsindustrien i Singapore i å møte relevante internasjonale standarder, med spesiell fokus på ansvarlig rekruttering, boforhold, transport og tilgang til klagemekanismer. Gruppen har også dialog med sentrale lokale interessenter for å fremme systemiske forbedringer og samarbeider også med lokale organisasjoner for å lette tilgangen til gjenoppretting for arbeidere. • Oppfølging av funn ved skipsverft Sent i 2024, ble det gjennom en stedlig vurdering av et skipsverft identifisert flere negative funn hos underleverandører, inkludert betaling av rekrutteringsgebyr og utilstrekkelige klagemekanismer.”

Annual report 2024A · The company itself

“Vesentlig påvirkning: Helse og sikkerhet i verdikjeden Arbeidere i våre leverandørkjeder og i energibransjen generelt arbeider ofte under utfordrende forhold der de utsettes for iboende helse- og sikkerhetsrisiko. Dette inkluderer arbeid med høyenergiprodukter, tungt maskineri, farlige og/ eller brennbare materialer, samt transport til og fra arbeidssted. Vår bransje omfatter store byggeprosjekter og bruk av internasjonal skipsfart - to sektorer der arbeidere står overfor høyere risiko for skader.”

Annual report 2024A · The company itself

“Med utgangspunkt i vår posisjon som både leverandør og innkjøper av marine drivstoff ønsker vi å bidra til å utvikle kapasitet i markedet for nye og alternative drivstoff. På innkjøpssiden vil vi fortsette å ta i bruk og støtte utvikling av utslippsreduserende tiltak, og vi vil både beholde og investere i nye “dual-fuel” LNG- og LPGskip, batteridrevne hybridskip og landstrøm.”

Annual report 2024A · The company itself

“Vi samarbeider tett med leverandører og entreprenører for å oppnå en standardisert tilnærming på tvers av våre operasjoner. I løpet av 2024 arrangerte vi jevnlige fellesmøter, ble enige om prioriteringer og mål, og signerte samarbeidsavtaler for å formalisere våre respektive forpliktelser.”

Annual report 2024A · The company itself

“Full-service provider of technical, sustainable solutions and services to maritime and landbased industries.”

Annual report 2024A · The company itself

“BKS is a full-service provider of technical installations to the land-based and maritime industry in Norway.”

Annual report 2024A · The company itself

“Our ability to provide services to our customers is highly dependent on good working relationships with a variety of entities, including airlines, ocean carrier lines and ground transportation providers, as well as governmental agencies.”

Annual report 2025A · The company itself

“(herein referred to as "Expeditors,” the "Company," "we," "us," "our") provides a full suite of global logistics services, offering customers access to an international network of people and integrated information systems to support the movement and strategic positioning of goods. As a third-party logistics provider, we purchase cargo space from carriers (such as airlines, ocean shipping lines, and trucking lines) on a volume basis and resell that space to our customers.”

Annual report 2025A · The company itself

“We provide a broad range of transportation services and customer solutions, such as customs brokerage, order management, time-definite transportation, warehousing and distribution, temperature-controlled transit, cargo insurance, specialized cargo monitoring and tracking, and other customized logistics and consulting solutions.”

Annual report 2025A · The company itself

“ITEM 7 — MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Overview Expeditors International of Washington, Inc. provides a full suite of global logistics services. Our services include air and ocean freight consolidation and forwarding, customs brokerage, warehousing and distribution, purchase order management, vendor consolidation, time-definite transportation services, temperature-controlled transit, cargo insurance, specialized cargo monitoring and tracking, and other supply chain solutions.”

Annual report 2025A · The company itself

“Our three principal services are the revenue categories presented in our financial statements: 1) airfreight services, 2) ocean freight and ocean services, and 3) customs brokerage and other services.”

Annual report 2025A · The company itself

“Customs brokerage and other services involve providing services at destination, such as helping customers clear shipments through customs by preparing and filing required documentation, calculating and providing for payment of duties and other taxes on behalf of customers as well as arranging for any required inspections by governmental agencies, and import services such as arranging for local pick up, storage and delivery at destinations. These are complicated functions requiring technical knowledge of customs rules and regulations in the multitude of countries in which we have offices.”

Annual report 2025A · The company itself

“We also help businesses improve non-customer facing decisions such as supply chain optimization, scheduling management and policy adherence.”

Annual report 2025A · The company itself

“Transaktionsvolumen på lager – og logistik samt let industrisegmentet faldt som eneste segment tilbage med ikke mindre end 29%. Dette skal dog ses på baggrund af nogle exceptionelt gode år på bagkanten af Corona krisen, og hverken Colliers eller EDC Erhverv tolker udviklingen som kritisk for segmentet, men snarere en ikke uventet justering til et mere normalt niveau.”

Annual report 2025A · The company itself

“Den fortsat let stigende e-handel fastholder behovet for lager– og logistik ejendomme, samt for ejendomme til brug for lettere industri, gerne som ”last mile distribution” eller ”urban logistic” tæt på forbrugeren. Interessen for lager - og logistikejendomme i de sekundært beliggende områder omkring storbyerne, og med let adgang til den offentlige infrastruktur, har over årene været stigende som konsekvens af de ændrede krav fra forbrugerne til hurtig levering som skabes af netop e-handel.”

Annual report 2025A · The company itself

“Risikoen for den effekt disse tiltag og pludselige indskydelser fra præsidenten kan få på verdensøkonomien, påvirker virksomhedernes beslutninger mht. lagre og forsyningssikkerhed. Mange virksomheder foretrækker som følge af ovenstående at trække forsyningskæderne hjem fra udlandet, hvilket understøtter behovet for, og efterspørgslen efter, lager – og logistikejendomme.”

Annual report 2025A · The company itself

“Internally we are facing extra costs from implementing the new ERP system, while keeping old sys - tems running, as well as higher than normal costs running our logistics until we have fully implemented our warehouse oper - ation in Ludwigslust.”

Annual report 2024A · The company itself

“The Company depends on affiliation and carriage arrangements that enable it to reach a large percentage of households through MVPDs and third party-owned television stations.”

Annual report 2026A · The company itself

“A significant portion of our revenue is generated through indirect sales and distribution channels, including distributors, resellers, telecom service providers and strategic partners that bundle or incorporate our products into their offerings. In our MoneyLion business specifically, we also depend on channel partners that provide access to consumers – such as news sites, content publishers, product comparison sites and financial institutions – and on product partners that offer financial products through our marketplace platform.”

Annual report 2026A · The company itself

“Our mobile products are typically sold globally to national and regional rental companies who then rent the equipment to the end user.”

Annual report 2025A · The company itself

“Under planprocessen kunde fastigheten generera kassaflöden från stabila hyresgäster som PostNord, Systembolaget och Swedbank.”

Annual report 2024A · The company itself

“Most orders are filled immediately from our existing inventory and deliveries are typically completed within 24 hours of order receipt.”

Annual report 2025A · The company itself

“These include raw material shortages, inadequate manufacturing capacity, labor strikes, shortages and disputes anywhere within the supply and distribution chain delivering products to us, tariff and customs legislation and enforcement, transportation disruptions, taxes and other legislative uncertainties, public health emergencies and/or weather conditions.”

Annual report 2025A · The company itself

“In some countries, we rely on international distributors for sales of certain of our products. Some of these relationships also involve the clinical development of these products by our partners.”

Annual report 2025A · The company itself

“As a result, Goodtech has intensified its focus on strategic advisory services, leading to major transformation projects for companies such as Aker Solutions, Equinor, Vesterålen Marine Olje, Vianode and Moelven.”

Annual report 2024A · The company itself

“The Aker Solutions project was successfully handed over to the client in H1 2024, and this became a milestone project both for Goodtech and Aker Solutions. Aker Solutions now owns and operates one of the most modern yard operations in the world, and Goodtech delivered the project as planned and on time.”

Annual report 2024A · The company itself

“In 2022, Hafnia launched three more Pools across the Chemical and LR2 segments, thus extending our Pool offering across all product tanker segments.”

Annual report 2022A · The company itself

“With the strength of our team and coverage globally, I believe Hafnia is in a unique position to maintain and even strengthen our relative TCE performance over time.”

Annual report 2022A · The company itself

“Hafnia is the market leader in the tanker sector because of our active management. We maintain a balance of navigating cautiously through the volatile global environment and decisiveness in appropriate market situations.”

Annual report 2022A · The company itself

“Hafnia Bunkers Alliance on the Rise CHW Collaboration Hafnia: A Year in Review / The Product Tanker Market The Product Tanker Market Product & Chemical transportation Hafnia primarily operates in the worldwide transportation of refined oil products and chemicals, which is shown in the simplified tanker market overview below.”

Annual report 2022A · The company itself

“The Hafnia Bunker Alliance serviced more than 1,250 vessels, demonstrating the strength of its business model.”

Annual report 2022A · The company itself

“The Group’s results are largely dependent on the worldwide market for transportation of refined oil products. Market conditions for shipping activities are typically volatile, and as a consequence the results may vary considerably from year to year. The market in broad terms is dependent upon two factors: the supply of vessels and the demand for oil products.”

Annual report 2022A · The company itself

“Time Charter Equivalent (TCE) earnings for Hafnia in 2022 increased to USD 1,346.7 million from USD 402.9 million in 2021 due to stronger freight rates and bigger fleet size following the strategic acquisitions of 44 modern chemical and product tanker vessels, Hafnia reported strong TCE earnings of USD 23,351/ day for its Handy fleet, USD 30,113/day for its MR fleet, USD 35,826/day for its LR1 fleet, USD 33,563/ day for its LR2 fleet, USD 24,910/day for its Chemical – Handy fleet, USD 31,481/day for its Chemical – MR fleet and USD 18,446/day for its Chemical – Stainless fleet. Hafnia’s net TCE in 2022 was USD 30,274/day based on vessel utilisation of 98%, as compared to 2021, where net TCE was USD 12,141/day based on vessel utilisation of 98%.”

Annual report 2022A · The company itself

“The total fleet of the Group comprised of 132 vessels, with six LR2s, six Handy vessels, 40 LR1s (including four bareboat chartered-in and four time chartered-in), 52 MRs (including nine time chartered-in), six Chemical – MRs, and 18 Chemical – Handy vessels.”

Annual report 2022A · The company itself

“The Hafnia Bunkers Alliance now procures and supplies bunkers to over 1,250 vessels worldwide. The team includes 18 members across Singapore, Copenhagen and Houston.”

Annual report 2022A · The company itself

“We are opportunistic about taking contracts of affreightment at levels supporting our long-term strategy. The operational synergies of our product and new chemical fleet allows us to broaden our cargo carrying capabilities and secure our positioning in the market, and thus reinforce our long-standing relationships with our customers and brokers.”

Annual report 2022A · The company itself

“Why Hafnia / Testimonials A Growing Pool… Over 30 owners and operators from all corners of the world entrust Hafnia as a global leader in the Tanker sector to take care of their vessels. It is exciting to be part of a team that manages these multicultural relationships, and a privilege to represent an organization that promotes such a uniquely versatile and dynamic culture, servicing the diverse needs of our esteemed pool partners.”

Annual report 2022A · The company itself

“Many of the raw materials essential to our business require the use of rail, storage, and trucking services to transport the materials to our job sites. These services, particularly during times of high demand, may cause delays in the arrival of or otherwise constrain our supply of raw materials.”

Annual report 2025A · The company itself

“Distribution Distributionen af vores færdige produkter sker gennem egen distribution og for hovedpartens vedkommende gennem etablerede netværk og samarbejdspartnere med henblik på at sikre, at vores produkter kommer frem til vores kunder og forbrugere, effektivt og rettidigt i henhold til vores aftaler.”

Annual report 2026A · The company itself

“Climate-related physical hazards – including acute events such as floods, storms, and wildfires, and chronic stressors such as droughts and extreme heat – may disrupt supplier operations or logistics infrastructure, leading to supply chain interruptions that increase input costs or delay deliveries, thereby raising the company’s cost of revenue.”

Annual report 2025A · The company itself

“Harvia has also optimized road freight routes in the EU, reduced overlapping inventories and selected a contract with a key logistics partner that enables approximately 60% fewer emissions than a standard contract to reduce transportation carbon footprint.”

Annual report 2025A · The company itself

“•We may be unable to develop, introduce and ship products on a timely and cost-effective basis, or we may be unable to successfully navigate through global supply chain challenges. •We may be unable to successfully adapt to the increasing importance of direct-to-consumer sales. •Our customer base remains highly concentrated, making us susceptible to the success of their businesses. •Our substantial business, sales and manufacturing operations outside the U.S. subjects us to risks of international operations, including the risk and impact of current, potential, retaliatory or reciprocal tariffs on our products. •Our reliance on third-party manufacturers, particularly in China, presents risks to our business. •Our digital games and entertainment offerings may be dependent on third-party studios, content producers and distribution channels.”

Annual report 2025A · The company itself

“Supply Chain and Manufacturing We are committed to transforming our supply chain into an industry-leading organization that delivers competitive advantages from design to shelf through superior service, responsiveness, and operational excellence. Our multi-year plan is focused on strengthening capabilities and maintaining a robust productivity pipeline to fuel Hasbro’s growth.”

Annual report 2025A · The company itself

“Our ability to meet our customers’ expedited delivery expectations is an integral component of our business strategy for which our customers rely. Shipping is a significant expense in the operation of our business. We ship almost all of our orders through third-party delivery services, and typically bear the cost of shipment.”

Annual report 2025A · The company itself

“Our solutions enable OEMs, fleet owners and gas distributors to make the switch to clean energy.”

Annual report 2024A · The company itself

“REFLECTING ON 2024 | HIGHLIGHTS 2024REFLECTING ON 2024 | HIGHLIGHTS 2024 Signed a multi-year supply agreement with GILLIG, a leading designer and manufacturer of heavy-duty transit buses in the United States, for supply of hydrogen fuel storage systems for their new fuel cell powered transit buses Secured an order from Freire Shipyard for a hydrogen fuel system for a Greenpeace vessel Successfully raised approximately NOK 1 billion in equity Selected by New Flyer, North America’s largest mass mobility solutions provider, to supply Type 4 hydrogen cylinders for the fifth consecutive year for their next generation, zero-emission hydrogen fuel cell-electric transit bus, the Xcelsior CHARGE FC™ REFLECTING ON 2024 | HIGHLIGHTS 2024REFLECTING ON 2024 | HIGHLIGHTS 2024 The broader energy transition is developing slower than expected in Europe and North America, creating a challenging market backdrop and limited forward visibility on customer demand for 2025.”

Annual report 2024A · The company itself

“Hiab tavoittelee kannattavaa kasvua keskeisillä toimialoilla kuten rakentamisessa, jätehuollossa ja kierrätyksessä, puolustuslogistiikassa sekä vähittäiskaupassa ja viimeisen kilometrin toimituksissa.”

Annual report 2025A · The company itself

“The group intends to transport more goods by rail and boat if solutions for such transport can compete with road transport regarding speed and infrastructure.”

Annual report 2024A · The company itself

“Furthermore, with respect to delivery options, customers are seeking faster and/or guaranteed delivery times, real-time updates on delivery status, low-price or free shipping, and/or convenient pickup options. Our ability to be competitive on delivery and pickup times, options and costs depends on many factors, as described more fully under “Our Supply Chain” below, and our interconnected strategy.”

Annual report 2026A · The company itself

“We have market delivery operations that function as local hubs to consolidate freight for dispatch to customers for the final mile of delivery, with a focus on appliances. Because we typically do not stock appliances in our facilities, we have invested in our capabilities to control more of our appliance delivery end-to-end, manage our appliance delivery volume through our market delivery operations, and expand our last mile delivery capacity.”

Annual report 2026A · The company itself

“We continue to evaluate and implement further mitigating actions, including potential supply chain resiliency movements and cost and pricing measures, as the tariff environment evolves.”

Annual report 2025A · The company itself

“Det har även beslutats om solpaneler på Lev Groups fabrik i Aveiro, Portugal där installation förväntas ske under 2025. • Fortsatt produktion av biogas från restavfall på Jalofoods egna biogasanläggning. • Privab har infört en ny logistiklösning genom anlitandet av en ny speditör där varor levereras till terminaler för samlastning med andra företag.”

Annual report 2024A · The company itself

“Dotterbolagen delas in i tre huvudkategorier: producenter som driver fabriker där produkter tillverkas och utvecklas, varumärken som utvecklar, designar och marknadsför produkter samt distributörer som hanterar lager, försäljning och distribution till slutkunder.”

Annual report 2024A · The company itself

“Aktiviteterna består huvudsakligen av utgående transporter och distribution till kund. Transporterna omfattar främst leveranser till centrallager eller direkt till butik.”

Annual report 2024A · The company itself

“Annual Report 2024 / About Höegh About Höegh in brief Höegh Autoliners is a leading global provider of ocean transportation services within the Roll-on Roll-off (RoRo) segment. We operate a global network of deep sea trades with Pure Car and Truck Carrier (PCTC) vessels.”

Annual report 2024A · The company itself

“The Group has two operating segments, Shipping services and Logistics services.”

Annual report 2024A · The company itself

“We sell many products through distributors, which presents risks that could negatively affect our operating results Some of our international product sales occur through third-party distributors. As a result, we are dependent on these distributors to promote and create demand for our products.”

Annual report 2025A · The company itself

“We sell a significant portion of our products through independent distributors and sales representatives. We rely in large part on the orderly operation of this distribution network, which depends on adherence to shipping schedules and effective management.”

Annual report 2025A · The company itself

“Idag är Caljan global ledare på en marknad i långsiktigt stark tillväxt. Kort om caljan Caljan är en ledande leverantör av utrustning, lösningar och tjänster som optimerar lastningsoch lossningsprocesser inom logistik. Caljan stödjer kunder i många delar av deras leveranskedja, vanligtvis centrerad kring e-handel, post och distribution.”

Annual report 2024A · The company itself

“En global ledare inom innovativ teknik och lösningar för marin- och energimarknaderna.”

Annual report 2022A · The company itself

“Eventuella störningar eller avbrott i försörjningskedjan skulle kunna ha en negativ effekt på koncernens verksamhet och försäljning. ITABs försörjningsprocesser ses kontinuerligt över i syfte att förbättra och att åtgärda eventuella brister.”

Annual report 2024A · The company itself

“Our service offerings include transportation of full-truckload containerized freight, which we directly transport utilizing our company-controlled revenue equipment and company drivers, independent contractors or third-party carriers. We have arrangements with most of the major North American rail carriers to transport freight in containers or trailers, while we perform the majority of the pickup and delivery services.”

Annual report 2025A · The company itself

“We also provide customized freight movement, revenue equipment, labor, systems, and delivery services that are tailored to meet individual customers’ requirements and typically involve long-term contracts. These arrangements are generally referred to as dedicated services and may include multiple pickups and drops, freight handling, specialized equipment, and freight network design.”

Annual report 2025A · The company itself

“In addition, we provide or arrange for local and home delivery services, generally referred to as last-mile delivery services, to customers through a network of cross-dock and other delivery system locations throughout the continental United States.”

Annual report 2025A · The company itself

“Utilizing thousands of reliable third-party carriers, we also provide comprehensive freight transportation brokerage and logistics services. In addition to dry-van, full-load operations, we also arrange for these unrelated outside carriers to provide flatbed, refrigerated, less-than-truckload (LTL), and other specialized equipment, drivers, and services.”

Annual report 2025A · The company itself

“Revenue for the JBI segment in 2025 was $5.98 billion.”

Annual report 2025A · The company itself

“DCS revenue for 2025 was $3.38 billion.”

Annual report 2025A · The company itself

“ICS revenue for 2025 was $1.11 billion.”

Annual report 2025A · The company itself

“At December 31, 2025, we had 2,003 independent contractors operating in the JBT segment.”

Annual report 2025A · The company itself

“With a global team of approximately 43,000, we provide end-to-end capabilities across advanced manufacturing, cities & places, energy, environmental, life sciences, transportation and water.”

Annual report 2025A · The company itself

“In England, we provide engineering, technical advice and innovation services to National Highways.”

Annual report 2025A · The company itself

“Our end-to-end services span advanced manufacturing, cities & places, energy, environmental, life sciences, transportation and water.”

Annual report 2025A · The company itself

“Interessen for logistik- og industriejendomme er fortsat høj, især for ejendomme med strategisk placering til last-mile-distribution.”

Annual report 2025A · The company itself

“Tillverkning och leverans av komponenterna till JMs projekt garanteras i långsiktiga ramavtal med leverantörer, och styr dokument möjliggör effektivt och hållbart logistikflöde.”

Annual report 2024A · The company itself

“Vuotta leimasi myös palveluliiketoiminnan maailmanlaajuinen laajentuminen.”

Annual report 2025A · The company itself

“Satamat ja terminaalit säilyivät Kalmarin vahvana loppuasiakassegmenttinä valmistavan teollisuuden ja raskaan logistiikan ohella.”

Annual report 2025A · The company itself

“Keskeinen osa Kamuxin asiakaspalvelukonseptia on kotiinkuljetuspalvelu, jolloin auto toimitetaan asiakkaan kanssa sovittuun paikkaan sekä samalla tarvittaessa noudetaan mahdollinen vaihtoauto.”

Annual report 2024A · The company itself

“We strive to earn the trust of our clients who rely on Kempower’s solutions, along with our extensive network of sales and service partners. By deeply understanding both the market and our customers, we deliver user-friendly DC fast-charging experiences that set us apart. • Earning the trust of leading global operators who are driving electrification across segments and regions. • Entered the U.S market with a strong start and attractive share gain opportunity to deliver above-market growth rates. • Demonstrated ability to scale with long‑standing customers, delivering hundreds of high‑power charging points that support reliable, day‑to‑day fleet operations across multiple regions.”

Annual report 2025A · The company itself

“Kempower has been selected as one of Kalmar’s strategic partners for developing a comprehensive new range of DC fast charging solutions for material handling and logistics, focusing on the port segment. This role enables us to leverage shared customer insights to deliver tailored, high performance and user-friendly systems for the global port sector.”

Annual report 2025A · The company itself

“Additionally, commercial fleet operators, particularly those managing buses and trucks, also rely on Kempower’s charging solutions to support their operations.”

Annual report 2025A · The company itself

“Our ability to receive inventory and deliver products to distributors, customers, and consumers on a timely basis depends on the proper functioning of our manufacturing, supplier, and distribution operations, and interruptions or delays in, or affecting, these operations could adversely affect our business, results of operations, or financial condition. Distribution disruptions can occur for many reasons, including manufacturing or supplier disruptions, labor disputes or shortages, concentration or insolvency of distributors or logistics providers, site-specific incidents, natural disasters, political unrest, terrorist attacks, cybersecurity incidents, epidemics, pandemics, other unfavorable economic or market conditions, trade embargoes or sanctions, tariffs, customs, and tax requirements and similar factors, increases in transportation or shipping costs, issues with overseas shipments, reductions in the transportation capacity of carriers, disruptions to transportation infrastructure, and other unexpected delivery interruptions or delays.”

Annual report 2025A · The company itself

“Our Real Assets business line represents $192 billion of AUM and $163 billion of FPAUM as of December 31, 2025, across infrastructure, real estate and energy. These strategies invest capital for long-term capital appreciation, current income generation, or both.”

Annual report 2025A · The company itself

“We outsource a number of services, including our transportation, information systems management and logistics management of spare parts and certain accounting and procurement functions, among others, to domestic and overseas third-party service providers.”

Annual report 2026A · The company itself

“Konecranesin tarjooma on alan laajin ja syvin, ja kattaa miehitetyt ja täysin automaattiset konttipihanosturit ja itseohjautuvat ajoneuvot, siirrettävät satamanosturit, miehitetyt ja täysin automaattiset konttilukit sekä raskaan kuorman trukit.”

Annual report 2025A · The company itself

“Satamaratkaisut tarjoaa nostolaitteita ja ratkaisuja sekä palveluja konttisatamiin, sisämaan terminaaleihin, telakoille ja bulkkitavaraa käsitteleviin satamiin.”

Annual report 2025A · The company itself

“These favorable impacts to Segment Adjusted Operating Income more than offset higher procurement and logistics costs reflecting inflationary pressure in WEEM, increased advertising expenses, unfavorable changes in allowances for trade receivables in Indonesia, the unfavorable impact of foreign currency (4.5 pp), and higher depreciation expense.”

Annual report 2025A · The company itself

“Kasvava tilauskanta – kehitysvaiheessa edelleen noin 400 miljoonan euron hankekanta Tilauskantamme oli vuoden 2025 lopussa 400 miljoonaa euroa ja kehitysvaiheessa oli tämän lisäksi hankkeita vielä noin 400 miljoonan euron arvosta. Vuonna 2025 tilauskantaa kasvattivat etenkin raideympäristössä tehtävät hankkeet. Vuoden loppupuolella Helsinki-Riihimäki-hankkeelta kirjattiin tilauskantaan noin 40 miljoonaa euroa ja Vantaan ratikan itäosasta noin 45 miljoonaa euroa.”

Annual report 2025A · The company itself

“Maan alle rakennetaan myös liikenne- ja logistiikkainfrastruktuuria, muun muassa rata- ja autotieväyliä, liityntä- ja huoltotunneleita sekä maanalaisia pysäköintilaitoksia.”

Annual report 2025A · The company itself

“Disruptions to Our Supply Chain and Outsource Providers Could Impact Our Ability to Meet Demand, Increase Our Costs, and Adversely Impact Our Revenue and Results of Operations Our supply chain has played and will continue to play a key role in our product development, manufacturing operations, field installation, and customer support. Our business depends on our timely supply of products and services to meet the demand from our customers, which depends in significant part on the timely delivery of parts, materials, and services, including components and subassemblies, from our direct suppliers to us, and to our direct suppliers by other companies. In addition, outsource providers have played and will continue to play a key role both in the manufacturing and customer-focused operations described above, and in many of our transactional and administrative functions, such as information technology, facilities management, and certain elements of our finance organization.”

Annual report 2026A · The company itself

“Viimeaikaiset merkittävät hankkeet, kuten Bangladeshin Mongla Portin sataman Marpol-jätteenkäsittelylaitoksen toimitus, innovatiiviset vedenpuhdistusratkaisut kalankasvatuksessa sekä rakennus­ vaiheessa oleva muovin kemiallinen kierrätyslaitos Suomessa luovat Lamorille uusia kasvumahdollisuuksia.”

Annual report 2024A · The company itself

“Headquartered in Reston, Virginia, with 47,000, global employees, we pursue strategic growth across five pillars: space and maritime; energy infrastructure; digital modernization and cyber; mission software; and managed health services.”

Annual report 2026A · The company itself

“uMaritime Systems – On and under the sea, we offer a wide range of innovative capabilities. We continue to enhance our surface and subsurface autonomous and unmanned technologies to make maritime operations safer and more efficient. We provide innovative platforms, software solutions for vessel control and common core autonomous behaviors, enhanced sensor systems, advanced signal processing, secure communications hardware and software to fully support these vital missions.”

Annual report 2026A · The company itself

“Två bolag riktar sig mot den marina sektorn: norska Rustibus Worldwide som levererar ytbehandlings- och säkerhetsutrustning för fartyg samt danska Green Instruments som utvecklar och tillverkar mätsystem för övervakning av utsläpp från fartyg.”

Annual report 2024A · The company itself

“I divisionen ingår brittiska Brian James Trailers, en nischad tillverkare av öppna och överbyggda biltransportsläp, italienska Cramaro som tillverkar system för att täcka lastbils- och jordbrukstransporter samt nederländska Sailmakers Group som tillverkar presenningar för främst transportsektorn.”

Annual report 2024A · The company itself

“Further, cost and wage inflation, availability of adequate capacity in global transportation, supply chain complexities, including consolidation therein, labor market issues, international tension and conflicts, uneven economic growth or downturns, an increase in overall demand in our industry for certain products and materials, and public health outbreaks, epidemics, or pandemics, have caused, and in the future may cause, delays or disruptions in and/or increased costs related to distribution of our medicines, the construction or acquisition of manufacturing capacity, procurement activity, and supplier or contract manufacturer arrangements, as well as other general business impacts.”

Annual report 2025A · The company itself

“In addition, in the U.S., most of our products are distributed through a limited number of wholesalers. If one of these significant wholesalers encounters financial or other difficulties or otherwise is unable or unwilling to support distribution of our products, it could cause disruption to our supply chain or we might be unable to timely collect the amounts that the wholesaler owes us, which could negatively impact our results of operations.”

Annual report 2025A · The company itself

“In the U.S., most of our products are distributed through wholesalers that serve pharmacies, physicians and other healthcare professionals, and hospitals.”

Annual report 2025A · The company itself

“A significant portion of LINK’s revenue—approximately 70% —derives from notification-based communication. These notifications play a crucial role in industries such as healthcare, utilities, and logistics, ensuring timely reminders, alerts, updates, and other mission-critical communications.”

Annual report 2024A · The company itself

“For logistics companies, timely and automated communications are crucial. Real-time updates, proactive delivery notifications, and AI-driven customer support improve both operational efficiency and customer satisfaction.”

Annual report 2024A · The company itself

“Countries with cash handling operations Loomis erbjuder säkra och effektiva helhetslösningar för betalningar, inklusive distribution och hantering av kontanter och värdesaker. Vår verksamhet bygger på toppmodern teknologi och våra logistiksystem, kontanthanteringstjänster och internationella lösningar skräddarsys för behoven hos finansiella institutioner, detaljhandelsföretag och andra kunder.”

Annual report 2024A · The company itself

“Loomis erbjuder nationella värdehanteringstjänster i USA, i stora delar av Europa, i vissa delar av Sydamerika samt internationella transporter av kontanter och ädelmetaller och förvaring av värde föremål.”

Annual report 2024A · The company itself

“To efficiently replenish our stores and meet our customers’ expectations for fast fulfillment and delivery, we own and operate more than 120 supply chain facilities in our network. These facilities include regional distribution centers, flatbed distribution centers, import distribution centers, bulk distribution centers, cross-dock terminals, and Fulfillment Centers.”

Annual report 2026A · The company itself

“Distribution Facilities We operate and distribute finished products from our distribution facilities in the United States, Canada, and Australia, where we own our distribution center in Groveport, Ohio, and lease other distribution facilities. In our other markets we utilize third-party logistics providers to operate, warehouse, and distribute finished products from their warehouse locations.”

Annual report 2026A · The company itself

“As of December 31, 2025, the Company’s aggregates distribution facilities consisted of 89 distribution yards. The Company’s rail-based distribution network, coupled with the extensive use of rail service, increases the Company’s dependence on and exposure to railroad performance, including track congestion, crew availability, railcar availability, locomotive availability and the ability to negotiate favorable railroad shipping contracts.”

Annual report 2025A · The company itself

“Adverse weather conditions, including hurricanes and tropical storms, extreme temperatures, snow, heavy or sustained rainfall, wildfires and earthquakes, reduce construction activity, restrict the demand for our products and impede our ability to efficiently transport material. Severe events can close or damage transportation networks or constrain logistics capacity, slowing our ability to move materials and increasing delivered costs.”

Annual report 2025A · The company itself

“Labor actions by our suppliers, contractors, railroads, ports, trucking firms, or other logistics providers may interrupt inbound materials or outbound deliveries, increase delivered costs, or require us to source alternatives. Tight labor markets, especially for skilled trades and licensed commercial drivers, can constrain operating days, raise turnover and training costs, and delay maintenance or capital projects.”

Annual report 2025A · The company itself

“Prices and lead times for parts and contractor services can be volatile due to supply-chain disruptions, limited supplier alternatives, inflation, labor availability, and logistics constraints.”

Annual report 2025A · The company itself

“Even where supply is available, our delivered costs can rise due to logistics constraints. Limited availability or higher rates for trucks and licensed drivers, rail service and cars, port capacity, or pipeline interruptions can delay deliveries, reduce operating days, or force us to source from higher-cost alternatives.”

Annual report 2025A · The company itself

“◦Delivery: The Company offers delivery from nearly 41,000 restaurants across approximately 100 markets, representing approximately 90% of McDonald's restaurants. The Company is continuing to build on and enhance the delivery experience for customers, including adding the ability to place a delivery order in our mobile app (a feature that is currently available in five of the Company’s top markets).”

Annual report 2025A · The company itself

“Som en konsekvens finns risk för ytterligare störningar i leverantörskedjorna och ökade distributionskostnader.”

Annual report 2024A · The company itself

“Ökade personalkostnader, som en följd av kraftigt höjda reglerade minimilöner i Polen och högre transportkostnader påverkade resultatet negativt.”

Annual report 2024A · The company itself

“Resultatförbättringen förklaras främst av högre volymer, vilket i viss mån motverkats av en något lägre bruttomarginal och ökade kostnader relaterat till personal och transporter jämfört med föregående år.”

Annual report 2024A · The company itself

“Koncernen köper in och distribuerar fordonsrelaterade produkter via egna centrallager, regionlager och ett brett nätverk av butiker samt lokala lager. Samtliga lager och majoriteten av butikerna ägs av koncernen. Ett mindre antal butiker drivs genom delägarskap eller franchisesamarbete.”

Annual report 2024A · The company itself

“Risks related to the availability of transport capacity, unstable conditions on key transit routes, and significant increases in market prices have the potential to hamper the product transport operations of Metsä Board and its associated company Metsä Fibre, thereby weakening profitability.”

Annual report 2025A · The company itself

“Table of Contents Estimating the impact of ongoing global conflicts on supply chain disruptions and energy shortages is challenging. The Ukraine invasion and Middle East conflict could negatively affect our financial results and pose risks to our business.”

Annual report 2025A · The company itself

“Transportation and Logistics We supply automatic dimensional measurement and data capture solutions, which integrate in-motion weighing, dimensioning, and identification technologies. With these solutions, customers can measure the weight and cubic volume of packages for appropriate billing, load management, and quality control. Our solutions also integrate into customers’ information systems.”

Annual report 2025A · The company itself

“We supply automatic identification and data capture solutions, which integrate in-motion weighing, dimensioning, and identification technologies for transport, shipping, and logistics customers.”

Annual report 2025A · The company itself

“Table of Contents Customers and Distribution Our principal customers include companies in the following key end-markets: the life science industry (pharmaceutical and biotech companies, as well as independent research organizations and testing labs); food manufacturers; chemical, specialty chemicals, and cosmetics companies; the academic community; food retailers; the transportation and logistics industry; the metals industry; and the electronics industry.”

Annual report 2025A · The company itself

“Momentum Group erbjuder kunderna ett omfattande logistiknätverk och lokal närvaro, vilket säkerställer snabba leveranser och tillgång till skräddarsydda lösningar.”

Annual report 2024A · The company itself

“Vi utvecklar och förvärvar framgångsrika hållbara företag Momentum Group är en ledande börsnoterad industrigrupp som idag består av mer än 30 företag som erbjuder hållbara produkter, tjänster och lösningar till kunder inom industri och industriell infrastruktur i Norden.”

Annual report 2024A · The company itself

“We rely on limited Company-owned facilities for production of certain of our non-alcohol and alcohol beverages, and developments negatively affecting production at such facilities could materially impact the financial results of our business. ● We rely on bottlers and distributors to distribute our products. If we are unable to maintain good relationships with our existing bottlers and distributors and/or secure such bottlers and distributors, our business could suffer.”

Annual report 2025A · The company itself

“No assurance can be given that we will be able to maintain our current distribution network or secure additional distributors on terms not less favorable to us than our current arrangements.”

Annual report 2025A · The company itself

“In March 2025, as part of the Group's strategy for fleet optimization and renewal, the Group entered into agreement to sell five vessels en bloc, involving three 1,300 TEU vessels and two 2,000 TEU vessels, to an unrelated party.”

Annual report 2024A · The company itself

“As part of its fleet renewal strategy, MPCC sold five vessels in 2024, averaging 17 years in age and 2,300 TEU in size, and acquired seven vessels averaging 10 years and a capacity of 3,400 TEU.”

Annual report 2024A · The company itself

“MPC Container Ships’ vessels are chartered out on fixed-rate contracts with a specific focus on intra-regional trade lanes. Intra-regional services play a pivotal role in connecting major ports on intercontinental shipping lanes with smaller, regional ports.”

Annual report 2024A · The company itself

“The Company owns and operates a portfolio of vessels serving intra-regional trade lanes on fixed-rate charters.”

Annual report 2024A · The company itself

“MPCC delivered a strong operational performance in 2024 while actively managing fleet composition, with continued robust chartering activity, successfully securing attractive time charters throughout the year to capture additional value and achieve high utilization for the fleet.”

Annual report 2024A · The company itself

“Our vessels are chartered to global liner shipping companies and regional carriers.”

Annual report 2024A · The company itself

“Mobility & Transportation delivers engineering and advisory services for safe and forward-looking transportation systems. The business area covers both road and rail, airport and harbour facilities and channel transportation systems.”

Annual report 2024A · The company itself

“Risker Vi optimerar vår tillverkningsstruktur och leverantörskedja för att minska transporter. Miljöpåverkan beaktas i planeringen av transporter. • Störningar i leveranskedjan till följd av extrema väderhändelser kan leda till ökade kostnader, längre ledtider och påverka materialtillgången.”

Annual report 2024A · The company itself

“*2024 and 2027 includes revenue from Globetech and FiiZK KEY FIGURES, NEKKAR GROUP MNOK 2024 2023 2022 EBIT 81 101 57 EBITDA % 14.8% 18.9% 17.4% Order intake 474 478 277 Order backlog 744 803 824 EPS (NOK) 0.82 0.78 0.30 Revenue MNOK EBITDA MNOK 14.8% EBITDA margin Techano Oceanlift has developed a new series of offshore/subsea cranes to meet the increased demand for subsea operations and construction.”

Annual report 2024A · The company itself

“The acquisition was finalised at August 15 2024. The company provides ICT (information and communication technology) infrastructure, connectivity and support services to the global maritime sector.”

Annual report 2024A · The company itself

“Under Nekkar’s ownership, Globetech is positioned as a leading niche provider of maritime IT solutions, with a singular focus on vessel owners and operators. The company scales through organic growth expanding service offerings and increasing the number of vessels under long-term managed service agreements—while exploring inorganic growth through strategic acquisitions.”

Annual report 2024A · The company itself

“Techano Oceanlift is exposed to the shipbuilding market for the offshore energy industries.”

Annual report 2024A · The company itself

“But some industries, such as refineries, steel and ammonia producers, shipping companies etc. face a more challenging path toward zero emissions.”

Annual report 2024A · The company itself

“Kläderna och accessoarerna köps in från tillverkare globalt och på närmarknad.”

Annual report 2024A · The company itself

“Koncernen är beroende av transporter till och från lagret och är exponerat mot störningar i distributionsnätverket. Vid en eventuell störning avser koncernen reparera lagret eller använda alternativa lager eller transporter.”

Annual report 2024A · The company itself

“Netcompany’s Infrastructure vertical leads the digital transformation of Infrastructure in broader terms, including transportation and logistics, supporting businesses in optimising operations and adapting to changing market demands. Our real-time data engines and control towers provide a single source of truth, enabling seamless integration of planning, execution, and results.”

Annual report 2025A · The company itself

“Reported EBIT increased 14% reflecting higher reported revenues and the following: •Gross margin expansion of 210 basis points primarily due to lower product costs, lower warehousing and logistics costs driven by channel mix, and higher ASP.”

Annual report 2026A · The company itself

“We distribute our products to customers directly from the factory and through global distribution centers. Our ability to meet customer expectations, manage inventory, complete sales and achieve objectives for operating efficiencies and growth, particularly in emerging markets, depends on the proper operation of our distribution facilities, the development or expansion of distribution capabilities and the timely performance of services by third parties (including in shipping product to and from our distribution facilities).”

Annual report 2026A · The company itself

“In the US, margins improved earlier in the year supported by the success of our repeatable Supply Chain solutions, which help customers enhance visibility and efficiency across global operations.”

Annual report 2025A · The company itself

“The stable development in regional operating profit and increase in margin despite revenue contracting reflects the resilience of the US operating model where repeatable services come with a significantly higher margin than other consultancy services.”

Annual report 2025A · The company itself

“These safety risks pose challenges to our business model through potential delivery delays and increased logistics costs.”

Annual report 2024A · The company itself

“Vi jobber også tett med Volvo Group for å se på muligheter for Volvo til å ta i bruk lavkarbon aluminium, og vi har inngått et partnerskap med Siemens Mobility og et nasjonalt togselskap for å skape en resirkuleringsløsning som anvender brukt skrap i nye tog.”

Annual report 2024A · The company itself

“Centrale elementer i relation til koncernens bæredygtighedsstrategi Det er North Medias ambition at skabe vækst og resultatfremgang såvel organisk som igennem opkøb af andre virksomheder, hvor koncernen har særlig styrke og indsigt. Bl.a. vil vi styrke og udvikle Last Mile’s drift og udbygge markederne for pakning og omdeling i Danmark og Sverige.”

Annual report 2025A · The company itself

“I segmentet Distributører giver adgangsløsning til distributører af dagligvarer, måltidskasser, pakker, tryksager mv. mulighed for at levere direkte til slutbrugerne i etageejendomme og private hjem døgnet rundt.”

Annual report 2025A · The company itself

“Value chain workers provide a range of products and services essential to the Company’s operations including ground handling, cleaning services, hotel accommodation, catering and the production of sustainable aviation fuel.”

Annual report 2024A · The company itself

“I Birsta, som är mest känt för sitt handelsområde, äger NP3 främst logistik- och handelsfastigheter. Birsta ligger strategiskt mellan E4 och E14 och även med närhet till Timrå vilket gör området attraktivt och efterfrågat.”

Annual report 2024A · The company itself

“I affärsområdet har NP3 valt att fokusera fastighetsbeståndet inom främst två områden i Gävle, Näringen och Sörby Urfjäll. Näringen är ett centralt beläget industriområde där NP3 äger många business-to-business-handelsfastigheter. Sörby Urfjäll är NP3s största område i Gävle och ett område där NP3 är den dominerande fastighetsägaren. Fastighetsbeståndet innefattar bland annat logistik, business-to-businesshandel och lätt industri.”

Annual report 2024A · The company itself

“Största hyresgästerna inom kategorin är Post- Nord, Systembolaget och Svensk Cater.”

Annual report 2024A · The company itself

“Systembolaget, Dagab Inköp & Logistik samt Berners.”

Annual report 2024A · The company itself

“De tre största hyresgästerna i affärsområdet utgörs av BGA Group, Trelleborg Sealing Solutions och PostNord. per ort Antal fastigheter per ort Timrå 17 (17) Härnösand 6 (6) Sollefteå 7 (6) Sandviken 7 (7) Bollnäs 6 (6) Söderhamn 3 (3) Huvudorterna i affärsområdet utgörs av Falun och Borlänge där fastighetsbeståndet på dessa två orter utgör 79 procent av affärsområdets hyresvärde.”

Annual report 2024A · The company itself

“De största hyresgästerna i affärsområdet är Bilkompaniet Sigoro AB, PostNord och Scania.”

Annual report 2024A · The company itself

“Net revenue 8, 893 m illion in 2 025 (2024: DKK 6, 6 18 mil lion)”

Annual report 2025B · From the report

“Warehousing · Inventory management · Pick & pack · E-commerce fulfilment · Returns handling”

Annual report 2025A · The company itself

“Net revenue was DKK 8,893 million in 2025 (2024: DKK 6,618 million), corresponding to a growth of 34.4%.”

Annual report 2025A · The company itself

“The Road & Logistics division provides transport and warehousing solutions with a geographical focus on Europe.”

Annual report 2025A · The company itself

“Structural steel products come in standard sizes and grades, which allows us to maintain inventory levels of these products to meet our customers’ expected orders. • Plate mills - Nucor operates three plate mills that produce plate for manufacturers of barges, bridges, heavy equipment, rail cars, refinery tanks, ships, wind towers and other items. Our products are further used in the pipe and tube, pressure vessel, transportation and construction industries. Considering Nucor’s production capabilities and the mix of plate products generally produced and marketed, the capacity of the plate mills is estimated at approximately 3,600,000 tons per year.”

Annual report 2025A · The company itself

“Long-term agreements with several customers ensure stable profitability for the next few years.”

Annual report 2025A · The company itself

“We see good growth prospects for our international railway business, as the expansion of our service network, the growth of our clientele and the strengthening of our brand awareness create clear prerequisites for development.”

Annual report 2025A · The company itself

“Nurminen Logistics will continue to invest in international railway services, which we expect to be the Group’s growth engine in the future.”

Annual report 2025A · The company itself

“NURMINEN LOGISTICS IN BRIEF Nurminen Logistics is a Finnish logistics company that provides high-quality rail transport, terminal, and multimodal solutions between Asia and Europe, the Nordic countries, and the Baltic region.”

Annual report 2025A · The company itself

“Thanks to our extensive clientele, strong expertise, European terminal network and the available wagon pool, we are able to grow the business quickly and with capital lightness.”

Annual report 2025A · The company itself

“This is reflected in the railway business, where net sales have continued to grow by double-digit percentages and profitability has improved by three-digit percentages.”

Annual report 2025A · The company itself

“Our growing rail operations in Finland were among the most punctual and efficient in the industry, achieving a delivery reliability of 96%.”

Annual report 2025A · The company itself

“We offer our customers a comprehensive service from terminal operations to door-todoor transports that we can produce competitively, flexibly scaling capacity.”

Annual report 2025A · The company itself

“We believe our commitment to a robust, regional, tiered distribution network provides superior replenishment and access to hard-to-find parts and enables us to optimize product availability and inventory levels throughout our store network. Our strategic, regional, tiered distribution network includes distribution centers (“DCs”) and Hub stores. Our inventory management and distribution systems electronically link each of our stores to one or more DCs, which provides for efficient inventory control and management.”

Annual report 2025A · The company itself

“MIDSTREAM AND MARKETING OPERATIONS GENERAL The Company’s midstream and marketing operations primarily support and enhance its oil and gas business. The midstream and marketing segment evaluates opportunities across the value chain to provide services to Occidental’s subsidiaries as well as third parties by optimizing the use of its gathering, processing, transportation, storage and terminal commitments and to provide access to domestic and international markets.”

Annual report 2025A · The company itself

“STRATEGY The Company is focused on delivering a unique shareholder value proposition with its portfolio of oil and gas and midstream and marketing assets, as well as its ongoing development of carbon management and storage solutions and GHG emissions reduction efforts.”

Annual report 2025A · The company itself

“Itämeren alueen liiketulos laski yllä mainittujen markkinavaikutusten, merkittävämpien myynti- ja markkinointipanostusten, kasvaneiden palkkakustannusten sekä logistiikkakustannusten nousun vuoksi 23,1 prosenttia ja oli 17,9 (23,3) miljoonaa euroa.”

Annual report 2025A · The company itself

“Iranin sodan pitkittyminen voi nostaa energian hintoja ja sen myötä logistiikkakustannuksia ja materiaalien valmistuskustannuksia.”

Annual report 2025A · The company itself

“Forsyningskjede-ytelsen var robust, med HMSog servicenivåer som oppfylte målene.”

Annual report 2024A · The company itself

“The services segment offers various services to the Group. It manages a fleet of farming service vessels, providing fish transportation, treatments, net cleaning, heavy marine support services, and it also converts organic waste into biogas, heating, electricity, and fertilizer for external sale.”

Annual report 2024A · The company itself

“Per produktområde, 2024 Per kundtyp, 2024 Per geografisk marknad, 2024 Rörelseresultat och marginal Projektfördelning orderstock, 31 december 2024 Orderstock fördelad över tiden PEAB ÅRS- OCH HÅLLBARHETSREDOVISNING 2023PEAB ÅRS- OCH HÅLLBARHETSREDOVISNING 2023 AFFÄRSOMRÅDE ANLÄGGNING 2024 Stora offentliga investeringar i Norden Affärsområde Anläggning är en ledande aktör i Sverige och en av de större aktörerna i Norge. Anläggning utför mark- och ledningsarbeten, bygger och underhåller vägar, järnvägar, broar och annan infrastruktur samt utför grundläggningsarbeten.”

Annual report 2024A · The company itself

“Ariti Con P/f skal bygge nyt hovedkontor til Smyril Line.”

Annual report 2025B · From the report

“Operating Segments Our businesses are organized into five operating segments: 1)Midstream—Provides crude oil and refined petroleum product transportation, terminaling and storage services, as well as natural gas and natural gas liquids (NGL) gathering, processing, transportation, fractionation, storage and marketing services in the United States.”

Annual report 2025A · The company itself

“Distribusjonsvirksomheten i Norge er organisert under Polaris Distribusjon, og rapporteres i segmentet Distribusjon Norge. Polaris Distribusjon består av fem regionale distribusjonsselskaper, som distribuerer papiraviser for både konsernets egne mediehus og eksterne mediehus. I tillegg til tradisjonell avisdistribusjon, har distribusjonsvirksomheten betydelige eksterne inntekter fra distribusjon av netthandelspakker gjennom Helthjem-nettverket.”

Annual report 2024A · The company itself

“Also, the increased competition in the postal business may have negative implications for Posti’s delivery volumes and market share.”

Annual report 2025A · The company itself

“Posti and its subsidiaries have, from time to time, faced and may in the future face negative publicity, due to events such as failures or delays in the delivery of individual items to customers, failure or default by suppliers and subcontractors, employee misconduct towards customers or otherwise, external criminality, adverse regulatory investigations, inquiries and actions, and press speculation.”

Annual report 2025A · The company itself

“We plan to achieve this through increased fill rates, operational efficiency improvements, and warehouse footprint consolidation. The relatively low outsourcing rate of logistics services in Finland and Sweden compared to the European average indicates opportunity for growth.”

Annual report 2025A · The company itself

“Today, we foster connections between people and companies by delivering information, emotions, and goods with nearly 14,000 experts across the Nordic and Baltic countries.”

Annual report 2025A · The company itself

“Businesses eCommerce and Delivery Services The eCommerce and Delivery Services business’s offering covers parcel delivery services in Finland and the Baltic countries and freight and certain value-add services in Finland.”

Annual report 2025A · The company itself

“Fulfillment and Logistics Services provide contract logistics and inhouse logistics in Finland and Sweden, with one storage in Norway. The business has a comprehensive service offering covering outsourced warehousing at sites owned or leased by Posti, staffing, and in-house logistics at customers’ sites.”

Annual report 2025A · The company itself

“Business model and the value chain Posti’s business is segmented into three Business Groups: eCommerce and Delivery Services; Fulfillment and Logistics Services; and Postal Services. Posti enhances customers’ everyday lives by offering a comprehensive range of services, including parcels, freight, warehousing, in-house logistics, and postal services.”

Annual report 2025A · The company itself

“Funktioner som inte hör till kärnverksamheten, så som produktion, lager, logistik, redovisning, IT-tjänster samt reparationer, outsourcas.”

Annual report 2024A · The company itself

“Commercial Lines The Commercial Lines operating segment writes auto-related liability and physical damage insurance, business-related general liability and commercial property insurance predominately for small businesses, and workers’ compensation insurance primarily for the transportation industry.”

Annual report 2025A · The company itself

“We also offer workers’ compensation insurance tailored for the transportation industry.”

Annual report 2025A · The company itself

“Properties GEOGRAPHIC DISTRIBUTION We predominately invest in logistics facilities. Our properties are typically used for distribution, storage, packaging, assembly and light manufacturing of consumer products. The vast majority of our operating properties are used by our customers for retail and online fulfillment and business-to-business transactions.”

Annual report 2025A · The company itself

“PSEG LI has an OSA with LIPA to operate LIPA’s electric T&D system in Long Island which was recently extended through 2030.”

Annual report unknown yearA · The company itself

“Disruptions in the company's warehousing and logistics chain of suppliers or its own stores as well as possible strikes in the logistics sector may have an adverse effect on Puuilo's business, financial position, profit, and cash flows.”

Annual report 2026A · The company itself

“Trafikverkets analyser pekar på att så- För Railcares transportverksamhet, som är en leveransväl person- som godstransporter kom- säker och flexibel leverantör inom gods-, entreprenad- Ett standardiserat trafikstyrningssystem för järnvägen i Europa. Sedan några år pågår ett arbete med att Railcare behöver uppgradera de lok som bolaget äger, bygga upp ett enhetligt järnvägssystem men står väl rustade inom detta område tack vare den mer att öka med ca 50% till år 2040. och specialtransporter, är marknadens förflyttning från vägtransporter till järnvägstransporter, samt det ökade behovet av godstransporter en möjlighet. Bolaget har goda relationer med samarbetspartners som säkerställer tillgång till lok, samt ett starkt arbetsgivarvarumärke vilket ger förutsättningar att både behålla och rekrytera förare.”

Annual report 2024A · The company itself

“Dels har vi vunnit ett större kontrakt avseende röjningslok som bidrar till att säkra långsiktighet, dels ser vi en ökad efterfrågan på våra tjänster inom både entreprenad- och transportverksamheten.”

Annual report 2024A · The company itself

“RAILCARE FÖRVÄRVAR 40 PROCENT AV AKTIERNA I AC FINANCE AB SAMT INGÅR AVTAL OM LÅNEFINANSIERING OCH HYRA AV LOK [Q2] Railcare förvärvar 40 procent av aktierna i det nystartade lokuthyrningsföretaget AC Finance. Köpeskillingen uppgår till 400 000 kronor. I samband med förvärvet ingår Railcare et låneavtal om lämnande av ägarlån, samt et hyresavtal om at hyra nio lok från AC Finance AB under fem år. ”Det är fantastiskt roligt att vi får ett sådant här förtroende från LKAB, efter att ha haft kortare uppdrag under de senaste åren.”

Annual report 2024A · The company itself

“Som järnvägsspecialist erbjuder vi spårunderhåll med egenutvecklade maskiner, transporter med egna lok och förare, lokoch vagnsverkstäder samt maskin- och teknikutveckling.”

Annual report 2024A · The company itself

“Unik erfarenhet & kompetens Investeringar (maskiner, lok, verkstäder) Transport Miljövänliga och leveranssäkra transporter på järnvägen, med egna lok- och vagnsverkstäder.”

Annual report 2024A · The company itself

“Lokverkstad Inom deta segment erbjuder vi även verkstadstjänster för järnvägsfordon; livstidsförlängning, revisioner, reparationer och löpande underhåll. Lokverkstaden är ISO-certifierad samt certifierad underhållsansvarig enhet (ECM) för järnvägsfordon.”

Annual report 2024A · The company itself

“Lokverkstaden har järnvägsoperatörer och lokuthyrare som sina största kunder, exempelvis Infranord, Nordic Re-Finance och Beacon Rail. inte finns att jämföra med.”

Annual report 2024A · The company itself

“Vår verksamhet bedrivs inom följande segment: ENTREPRENAD SVERIGE Andel av koncernens % Vår verksamhet omsätning 39 ENTREPRENAD UTLAND % Andel av koncernens omsätning 4 TRANSPORT SKANDINAVIEN Andel av koncernens % omsätning 55 MASKIN OCH TEKNIK Andel av koncernens % omsätning 2 Kurt Boström, installatör Entreprenad Sverige Entreprenad Utland Transport Skandinavien Maskin och Teknik → VERKSAMHETEN AKTIEN FÖRVALTNINGSBERÄTTELSE HÅLLBARHETSRAPPORT FINANSIELLA RAPPORTER, NOTER ÖVRIGT Lokverkstad i Pitkäjärvi Reparation och underhåll Entreprenadtransporter Maskin-, slipers och makadamtransporter Godstransporter Malmtransporter åt Kaunis Iron och LKAB Verkstad i Skelleſtehamn Maskinutveckling, byggnation och underhåll Huvudkontoret ligger i Skelleſtehamn.”

Annual report 2024A · The company itself

“Distribution To facilitate global distribution, our products are shipped from manufacturers to a network of distribution centers around the world for inspection, sorting, packing, and delivery to our retail locations and digital commerce and wholesale customers.”

Annual report 2026A · The company itself

“Speed Group förvärvar Nord Logistics Med förvärvet utökar Speed Group sitt erbjudande inom transport tjänster. Förvärvet stärker Speed Groups position som global helhetsleverantör och öppnar upp för nya marknader och kundsegment.”

Annual report 2024A · The company itself

“Dimitris Gioulekas, vd i Knightec Group Viktiga händelser 202411 Affärsområden Rapporter Övrigt Om Ratos Historisk miljardaffär till Speed Group I december blev det klart att Speed Group landat en ny miljardaffär – den största i bolagets historia – när de fick nytt förtroende av Ericsson att sköta deras logistikhub i Borås, Sverige. Det nya avtalet som löper över åtta år, bedöms vara värt 2,5 miljarder kronor.”

Annual report 2024A · The company itself

“Speed Group erbjuder hållbara, flexibla och innovativa lösningar för komplexa logistik-, transport- och personalutmaningar.”

Annual report 2024A · The company itself

“Koneja projektitoimitusten lisäksi Raute tarjoaa laajan valikoiman palveluja, joihin kuuluvat varaosat, huolto, korjaukset, modernisoinnit ja asiantuntijan tuki lopputuotteen laadun ja tuotannon optimoimiseksi.”

Annual report 2025A · The company itself

“Divisionen Infrastructure har vunnit en rad järnvägs- och väguppdrag med fokus på omställning till en hållbar transportsektor.”

Annual report 2024A · The company itself

“Samtidigt är utsikterna starka inom Industry och Infrastructure, där stora nationella projekt driver tillväxt.”

Annual report 2024A · The company itself

“Marknaden för Infrastruktur har varit god, främst drivet av tillväxt inom järnvägssektorn och långsiktiga ramavtal som ger en stabil grund.”

Annual report 2024A · The company itself

“NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 1.BASIS OF PRESENTATION Republic Services, Inc., a Delaware corporation, and its consolidated subsidiaries (also referred to collectively as Republic, the Company, we, us, or our), is one of the largest providers of environmental services in the United States, as measured by revenue.”

Annual report 2025A · The company itself

“Such impacts may disrupt parties in our supply chain, our customers, and our operations.”

Annual report 2026A · The company itself

“We ship a significant portion of our products to our customers through independent package delivery and import/export companies, including UPS and Federal Express in the United States; TNT, UPS and DHL in Europe; and UPS in Asia. We also ship our products through other carriers, including commercial airlines, freight carriers, national trucking firms, overnight carrier services and the United States Postal Service.”

Annual report 2025A · The company itself

“DAT – electronic marketplaces that automate broker and carrier freight capacity matching throughout the U.S. and Canada, freight tracking and financing, and AI-enabled analytics solutions.”

Annual report 2025A · The company itself

“För att reducera utsläpp fokuserar vi på effektiv logistik och hållbara transportmedel, som båt och tåg.”

Annual report 2024A · The company itself

“Finished products are stored at ambient temperatures and distributed through a well-established logistics network. In most multi-beverage markets, we operate a direct-to-customer distribution model, delivering products from our warehouses directly to retail outlets, bars, restaurants, convenience stores, or customers’ central warehouses.”

Annual report 2025A · The company itself

“Overall, the Danish business delivered volumes and net revenue slightly above the prior year while continuing to realize efficiency gains in supply chain and sourcing. These improvements were supported by our investments in both production capacity and warehouse facilities.”

Annual report 2025A · The company itself

“Under första kvartalet började Bolaget att hantera produkter via den nya logistikpartnern och logistikenheten i Tyskland. Andelen produkter som hanteras via denna logistikenhet nådde under andra kvartalet en ändamålsenlig nivå baserat på Bolagets försäljning i de olika geografiska marknaderna vilket resulterat i både snabbare, mer kostnadseffektiva och miljöeffektiva leveranser utanför Norden.”

Annual report 2022A · The company itself

“Number of harvesting- and processing plants: 3 in operation Includes 4 time-limited demonstration licenses and 1,100 tonnes MAB in development licenses.”

Annual report 2024A · The company itself

“This category includes emissions from vehicles and ships distributing materials to both owned printing houses and to printing suppliers. This category also includes delivering products to customers in both businesses: in Learning, from printing supplier to warehouse and warehouse to customers, and in Media Finland, newspapers from owned printing houses to customers and magazines from printing supplier to warehouse and from warehouse to customer.”

Annual report 2025A · The company itself

“Logistics partners are used to transfer the materials to warehouses. Paper, print and logistics procurement are categories with the most significant environmental impacts.”

Annual report 2025A · The company itself

“De fire andre erhvervsejendomme som vi har i vores portefølje, har overvejende lange uopsigelige lejekontrakter med overvejende gode lejere samt en vis lejereserve på fornuftige beliggenheder, hvor der på alle ejendomme er lavet en fast plan for vedligehold til ejendommen.”

Annual report 2025A · The company itself

“I 2025 er ejendommen negativt dagsværdireguleret med DKK 0,9 mio. primært grundet at uopsigeligheden på den nuværende aftale er blevet mindre. • En lager/kontor ejendom på ca. 7.000 m2 beliggende på Hvidkærvej 52, 5250 Odense SV, hvor vi har en lang lejekontrakt med en større ankerlejer med en uopsigelighed frem til 2032.”

Annual report 2025A · The company itself

“Udlejere SIG’s direkte kunder vil være lejere i de udlejningsejendomme, som tilkøbes. Ejendommene tilkøbes kun når SIG’s bestyrelse har en høj grad af sikkerhed for lejers bonitet, eller får stillet en passende garanti til rådighed, og derudover vælges kun ejendomme som vurderes at kunne genudlejes i tilfælde af en kundes konkurs eller fraflytning, hvorfor SIG også har stor fokus på markedslejen ved overtagelse af en eksisterende lejer.”

Annual report 2025A · The company itself

“Category 4 & 9, upstream and downstream Transportation and Distribution”

Annual report 2025B · From the report

““Manufacture of low carbon technologies for transport”: Scanfil manufactures on-board charger and frequency converters, fulfilling the substantial contribution criteria for a selection of two subsections: (i) vehicles of categories N2 and N3; (m) sea and coastal passenger water transport vessels. • CCM 3.5.”

Annual report 2025A · The company itself

“Supply Chain & Transportation Verksamheter med innovativa lösningar som verkar inom att modernisera och effektivisera transport- och leveranskedjor, drivet av en ökad efterfrågan på mer hållbara, effektiva och säkra logistiklösningar.”

Annual report 2024A · The company itself

“Sdiptechs verksamheter inom Supply Chain & Transportation utvecklar innovativa lösningar för att modernisera transport- och leveranskedjor. Med en växande efterfrågan på smartare logistik blir optimering av infrastruktur och transportflöden allt viktigare. Globala och regionala leveranskedjor kräver anpassade system och teknik för att möta kraven på precision, kapacitet och minskad miljöpåverkan.”

Annual report 2024A · The company itself

“Vintervägunderhåll, inklusive plogning, saltning och halkbekämpning för att garantera trafiksäkerhet året om.”

Annual report 2024A · The company itself

“Sdiptech har många verksamheter som gynnas av automatiseringstrenden, ett exempel är Certus Automation, en ledande aktör inom optisk teckenigenkänning (OCR), bildbehandling och programvaruutveckling. Certus lösningar automatiserar och optimerar logistikprocesser i hamn- och terminalmiljöer, vilket ökar säkerheten och gör processerna mer effektiva.”

Annual report 2024A · The company itself

“Senzime verkar globalt, både genom egen direktförsäljning och genom utvalda distributörer samt samarbetspartners inom patientövervakning.”

Annual report 2024A · The company itself

“In Finland, key wins included supplying the Digiroad national road and street network information system and serving as expert supplier for the RAIDE railway information system project.”

Annual report 2025A · The company itself

“In Sweden, Infracontrol secured Swedavia’s and Trafikverket’s long-term assignments, as well as a ten-year agreement with Gothenburg Municipality for tramway infrastructure control systems.”

Annual report 2025A · The company itself

“We partner with suppliers that produce high-quality and sought-after products for our customers, to which we add delivery and logistics services, inventory management, technical support, training etc.”

Annual report 2025A · The company itself

“Solar relies on strong partnerships across our value chain to deliver products, services, and transport.”

Annual report 2025A · The company itself

“Solventum may experience a sustained interruption in its receipt of adequate supplies or the distribution of its products, or disruption to key manufacturing sites’ operations, including due to government actions relating to discharge or emission permits or other legal or regulatory requirements.”

Annual report 2025A · The company itself

“SP Gibo’s egne produkter omfatter Dan-Fender (fender og bøjer til den maritime industri), Atlantic Floats (fiskeriprodukter) og Nycopac (industriel transportemballage).”

Annual report 2025A · The company itself

“Dan-Fender omfatter bl.a. rotationsstøbte fendere og bøjer til den maritime industri.”

Annual report 2025A · The company itself

“For å håndtere denne type risiko, er naturrisiko innlemmet i bankens risikoveileder og inngår som en del av kredittprosessen. For shipping, fiskeri, havbruk og småkraft er det harde krav i kredittpolicyene knyttet til at kunder må ha iverksatt tiltak som bidrar til å redusere naturrisiko.”

Annual report 2024A · The company itself

“Mål øvrige skip: I løpet av 2025 skal banken finne målemetoder på øvrige segment i shippingporteføljen, basert på relevant utslippsintensitet i disse segmentene. Dette gjelder for følgende delsegment: Offshore og offshore vind.”

Annual report 2024A · The company itself

“SSAB har en konkurrensfördel genom att produktionen sker relativt nära kunderna, vilket också underlättar produktutveckling. Den ledande positionen på hemmamarknaderna skapar en stabil bas för att fortsätta utveckla SSABs erbjudande.”

Annual report 2024A · The company itself

“SSAB är även återförsäljare av stål och andra metaller via Tibnor samt erbjuder stålbaserade byggprodukter via Ruukki Construction.”

Annual report 2024A · The company itself

“The steel rail marketplace in the United States, Canada, and Mexico is specialized and defined, with seven Class I railroads and a large distribution network.”

Annual report 2025A · The company itself

“De områden där Stendörrens fastighetsbestånd är beläget erbjuder utmärkta förutsättningar för distribution, då en stor del av Sveriges slutkonsumenter finns inom kort räckvidd.”

Annual report 2024A · The company itself

“Segmentet för lager-, logistik- och industrifastigheter noterade en relativt stark efterfrågan med 19 procent av volymen, även om andelen minskade något från föregående år. Segmentet fortsätter attrahera investerare tack vare låga vakansgrader och långsiktiga hyresavtal.”

Annual report 2024A · The company itself

“Stendörren har en geografisk närvaro i Göteborg och Borås, två strategiska logistiklägen.”

Annual report 2024A · The company itself

“Stendörrens fastighetsbestånd omfattar lager-, logistikoch industrifastigheter, ett segment med ökande efterfrågan och låg vakansgrad.”

Annual report 2024A · The company itself

“Tyngdpunkten av fastigheterna låg värdemässigt inom segmentet lager/lätt industri/ logistik med drygt 7 143 miljoner kronor i fastighetsvärde.”

Annual report 2024A · The company itself

“Transporter med lastbil förutspås ha en positiv tillväxt under många år framöver och en god efterfrågan på utbytesdäck är en naturlig följd av detta.”

Annual report 2024A · The company itself

“Trainparts verkar inom ett område med en stabil och säker efterfrågan där produkterna används i järnvägsnätet och för underhåll av lok- och järnvägsvagnar. Järnvägsnätet i både Sverige och övriga nordiska länder har ett löpande behov av underhåll vilket bedöms ha en stabil och ökande efterfrågan mot bakgrund av investeringar i hållbara transportalternativ, grön omställning och fokus på minskade utsläpp.”

Annual report 2024A · The company itself

“Kunderna omfattar främst däckverkstäder och åkerier samt en mängd andra rörelsedrivande verksamheter med egen transportfunktion.”

Annual report 2024A · The company itself

“Stolt Tank Containers 652,121 699,504 Corporate and Other 753 229 Total 2,890,625 2,820,218 Stolt Tankers 390,082 371,076 Stolt Tank Containers 58,988 (37,831) Stolt-Nielsen Gas (20,492) (10,396) Corporate and Other (29,581) (32,522) Total 538,530 419,647 Operating revenue increased by $93.1 million in 2024 versus 2023, with deep-sea revenue decreasing by $43.2 million and regional revenues increasing by $136.3 million.”

Annual report 2024A · The company itself

“Tärkeimmät palvelut ovat kuljetukset sekä erilaiset ulkoistetut liiketoiminnantukipalvelut.”

Annual report 2025A · The company itself

“Tärkeimpiä toimijoita ovat yksityiset metsänomistajat, kemikaalitoimittajat, kuljetus- ja logistiikkakumppanit sekä alla olevassa kuvassa esitetyt keskeiset asiakassegmentit.”

Annual report 2025A · The company itself

“Intäkter från utförande av tjänsteuppdrag Koncernens intäkter från tjänsteuppdrag avser både kortare och längre uppdrag och inkluderar bland annat konsulttjänster, entreprenaduppdrag och transporttjänster. Det förekommer både ramavtal och enskilda avtal.”

Annual report 2024A · The company itself

“Affärsområde Services Nyckeltal Antal medarbetare, st 3 395 4 352 5 140 Antal affärsenheter, st 53 58 62 Nettoomsättningen minskade med 10 procent till 10 254 MSEK (11 346), mestadels förklarat av avyttringar under året, delvis motverkat av årets organiska omsättningstillväxt om 1 procent, samt affärsområdets skärpta lönsamhetsfokus. Justerad EBITA ökade med 4 procent till 1 097 MSEK (1 057) och den justerade EBITA-marginalen uppgick till 10,7 procent (9,3), positivt påverkad av avyttringar, effektivitetshöjande insatser samt fokus på projekt med högre lönsamhet.”

Annual report 2024A · The company itself

“Affärsområde Services består av 53 affärsenheter som erbjuder ett brett spektrum av tjänster, främst inom infrastrukturarbeten, frakt och spedition, tekniska installationer samt digitala tjänster. Bolagen inom affärsområdet köper bland annat in entreprenadtjänster, byggmaterial och transporter. Leverantörerna finns till 95 procent inom Sverige.”

Annual report 2024A · The company itself

“Affärsområde Services såg stärkt efterfrågan under det andra halvåret, efter en svagare inledning på året. Särskilt affärsenheter inom frakt och spedition, installation samt produktoch konsultbolagen som erbjuder digitala tjänster upplevde goda marknadsförutsättningar.”

Annual report 2024A · The company itself

“Affärsområde Services fokuserar på tjänstebolag med starka positioner inom specifika B2B-nischer och är indelat i sju vertikaler: Contracting Services, Infrastructure, Installation, Logistics, Engineering Services, Digital Services samt HR and Competence. Services består av 53 affärsenheter (58) och stod för 30 procent (32) av omsättningen under 2024.”

Annual report 2024A · The company itself

“Supply chain resilience remains a priority, as retailers seek to manage rising logistics costs, mitigate disruptions, and maintain steady inventory levels. By leveraging diversified sourcing, real-time visibility tools, and predictive analytics, they can better navigate market fluctuations.”

Annual report 2024A · The company itself

“Our main actors in our downstream value chain include transportation companies, our customers, product end-users and waste operators.”

Annual report 2025A · The company itself

“Transportomställningen innebär elektrifiering och modernisering av infrastruktur, utveckling av förnybara drivmedel samt förbättrad kollektivtrafik och mobilitet.”

Annual report 2024A · The company itself

“Sweco ska bistå Trafikverket med tjänster för en omfattande utbyggnad av delar av Ostkustbanan mellan Uppsala och Stockholm i syfte att möta det ökade behovet av hållbar personoch godstrafik. Ordervärdet är cirka 400 MSEK.”

Annual report 2024A · The company itself

“Sweco har anlitats för projekteringstjänster tillden första spårvagnen som ska byggas i Åbo i Finland. I uppdraget ingår utformningen av 19 nya stationer. Kontraktsvärdet uppgår till 68 MSEK.”

Annual report 2024A · The company itself

“Med fler än 6 000 medarbetare med fokus på transportfrågor är Sweco en av Europas största aktörer på området med expertis inom järnvägar, vägar, hamnar, tunnlar, broar samt gång- och cykelvägar.”

Annual report 2024A · The company itself

“Uppdragen utförs inom tjänstesegmenten: Byggnader och stadsdelar; Vatten, energi och industri; samt Transportinfrastruktur.”

Annual report 2024A · The company itself

“Verksamhetsgenomförande Riskområde Beskrivning Hantering Försörjningskedjan Sobi förlitar sig på tredje part för att tillverka och distribuera läkemedel. Svårigheter att säkra tillräcklig kapacitet vid rätt tidpunkt, kan leda till risk för otillräcklig tillgång på läkemedlen eller lagerbrist.”

Annual report 2024A · The company itself

“En viktig del av koncernens hållbarhetsarbete för en minskad miljöpåverkan är en genomtänkt och konsoliderad logistikkedja. Här märks bland annat förläggandet av produktion i Sverige och att ett ökande antal produkter därmed är närproducerade.”

Annual report 2024A · The company itself

“Med kontinuerliga förbättringar i fokus har varuförsörjningsarbetet under året resulterat i en ytterligare minskad leveransfrekvens till butiker. Att ett gradvis ökande antal av Synsams produkter nu produceras i Sverige minskar ytterligare transportutsläppspåverkan.”

Annual report 2024A · The company itself

“Targa is a leading provider of midstream services and is one of the largest independent infrastructure companies in North America. We own, operate, acquire, and develop a diversified portfolio of complementary domestic infrastructure assets. Our Operations We are engaged primarily in the business of: • gathering, compressing, treating, processing, transporting, and purchasing and selling natural gas; • transporting, storing, fractionating, treating, and purchasing and selling NGLs and NGL products, including services to LPG exporters; and • gathering, storing, terminaling, and purchasing and selling crude oil.”

Annual report 2025A · The company itself

“Our fractionation, pipeline transportation, storage and terminaling businesses include 2,600 miles of company-owned pipelines to transport mixed NGLs and specification products. The Logistics and Transportation segment also transports, distributes, purchases, sells, and markets NGLs via terminals and transportation assets in multiple states across the U.S.”

Annual report 2025A · The company itself

“We provide a broad range of end-to-end undersea interconnect solutions to the offshore oil and gas, naval defense, oceanographic and telecom markets.”

Annual report 2025A · The company itself

“As a manufacturer and distributor of a wide variety of products, including monitoring instruments, gas and flame detection instruments, products used in offshore oil and gas production, products used in transportation and commercial aviation, products used in maritime navigation and products used in medical devices (including X-ray detectors), our results of operations are susceptible to adverse publicity regarding the quality or safety of our products.”

Annual report 2025A · The company itself

“Resursutflöden Produkter och material Primära fysiska resursutflöden från Ericssons produktionsprocesser, inklusive outsourcad produktion, omfattar hårdvara för kommunikationsnät i form av radiobasstationer, antenner, basband, kraftmoduler, routrar och modem, och sitematerial (till exempel kablar och batterier) samt förpackningar i form av kartong och viss plast.”

Annual report 2024A · The company itself

“Telenor Maritime offers mobile maritime communication, serving cruise and ferry segments, fisheries, and the oil & gas industry.”

Annual report 2024A · The company itself

“Näihin kuuluvat muun muassa elektroniikkakomponentit ja kuljetukset.”

Annual report 2025A · The company itself

“YLEISKATSAUS Teleste on kansainvälinen teknologiakonserni, jonka tuotteet ja ratkaisut auttavat rakentamaan verkottunutta ja turvallista digitaalista yhteiskuntaa. Yhtiön ratkaisut mahdollistavat laajakaista- ja televisiopalvelut, takaavat turvallisuuden julkisilla paikoilla ja opastavat sujuvaan joukkoliikenteen käyttöön.”

Annual report 2025A · The company itself

“Yhtiön päätuotteita ovat laajakaistaverkkoratkaisut sekä julkisen liikenteen ja turvallisuuden ratkaisut, kuten matkustajainformaatiojärjestelmät ja videovalvontaratkaisut sekä näihin liittyvät asennus- huolto- ja ylläpitopalvelut.”

Annual report 2025A · The company itself

“Telesten tärkeimmät markkina-alueet ovat Eurooppa ja Pohjois-Amerikka, ja pääasiakasryhmiä ovat teleoperaattorit, julkisen turvallisuuden toimijat sekä liikenne- ja infrastruktuuriyhtiöt.”

Annual report 2025A · The company itself

“PSM-liiketoiminnan keskeiset tuotteet ovat näytöt sekä raideliikenteen matkustajavaunuissa että asemilla sekä muut juniin, raitiovaunuihin ja metroihin asennettavat infotainment-tuotteet.”

Annual report 2025A · The company itself

“Idag använder 51% av kollektivtrafikbussarna i Sverige, 25% i Finland och 7% i Norge kollektivtrafiklösningar från Telia Smart i sina fordon.”

Annual report 2024A · The company itself

“Färjerederiet Finferries blev den första pilotkunden för Telias Sirius 5G korridorutvecklingsprojekt och Telia ingick även ett samarbetsavtal med Danfoss kring optimering av energilösningar för hyresvärdar och bostadsrättsföreningar samt och avtal avseende Crowd Insights data med laddsystems-leverantören Plugit för att lokalisering av nya laddpunkter.”

Annual report 2024A · The company itself

“Teradyne’s robotics product offerings consist primarily of collaborative robotic arms and autonomous mobile robots used by global manufacturing, logistics and industrial customers to improve quality and increase manufacturing and material handling efficiency while reducing costs.”

Annual report 2025A · The company itself

“In addition, we generate revenue from pipeline, power line and utility easements, commercial leases and temporary permits principally related to a variety of land uses, including, but not limited to, midstream infrastructure projects and processing facilities as hydrocarbons are processed and transported to market.”

Annual report 2025A · The company itself

“Distribution We currently operate a distribution facility network for supplying stores with merchandise and delivering product ordered through our websites and mobile application. In fiscal 2025, our Tractor Supply stores received approximately 81% of their merchandise through this network while the remaining merchandise shipped directly from our vendors to our stores or customers.”

Annual report 2025A · The company itself

“Our customers include: (1) distributors of aerospace components; (2) worldwide commercial airlines, including national and regional airlines; (3) large commercial transport and regional and business aircraft OEMs; (4) various armed forces of the United States and friendly foreign governments; (5) defense OEMs; (6) system suppliers; and (7) various other industrial customers.”

Annual report 2025A · The company itself

“In construction, we connect teams across the design, build, and operational phases of a project. Our connected supply chain solutions provide transportation companies and their drivers with tools to enhance fuel efficiency, safety, transparency, and sustainability.”

Annual report 2026A · The company itself

“By connecting shipper and carrier TMS solutions, our platform creates self-reinforcing network effects, differentiating us from point solution competitors.”

Annual report 2026A · The company itself

“Transportation and Logistics The T&L segment provides a suite of solutions for shippers, carriers, retailers, and intermediaries globally, maintaining a substantial footprint within the truckload freight market while expanding platform capabilities to connect the broader freight ecosystem. Our solutions are designed to create a connected supply chain by integrating all forms of transportation, drivers, back-office management, and freight operations to build a safer, simpler, and more efficient global supply chain.”

Annual report 2026A · The company itself

“Following the introduction of advanced planning capabilities in 2025, we repositioned Transporeon as a global shipper TMS, making Trimble a unique provider of both shipper and carrier TMS solutions.”

Annual report 2026A · The company itself

“Our mapping and routing solutions, such as PC*Miler and CoPilot, provide the industry standard for truck-specific routing, mileage, and navigation. These solutions enable the transportation industry to achieve greater fleet utilization and improve safety through precise, commercial-grade routing while ensuring compliance with regulatory requirements.”

Annual report 2026A · The company itself

“Our carrier TMS and maintenance solutions manage core transportation operations and maintenance workflows, act as a single source of truth repository of transport data, and automate mission-critical business processes. We offer capabilities for long-haul trucking and fleet maintenance customers, focusing on business intelligence, safety, compliance, and efficiency.”

Annual report 2026A · The company itself

“Our Transporeon solutions provide a cloud-based ecosystem that manages the transportation lifecycle from freight sourcing and procurement through transport execution, dock and yard management, and auditing.”

Annual report 2026A · The company itself

“Reportable Segments We report our financial performance, including revenue and operating income, based on three segments: (i) Architects, Engineers, Construction and Owners, (ii) Field Systems, and (iii) Transportation and Logistics.”

Annual report 2026A · The company itself

“IDAG ÄR VI DEN GLOBALA MARKNADS - LEDAREN INOM NÄTPANELS LÖSNINGAR FÖR MASKINSKYDD, LAGER OCH FÖRRÅD.”

Annual report 2024A · The company itself

“Våra skyddslösningar återfinns inom tillverkande industrier inom robotceller och automationslösningar, inom automatiserade lager med rasskydd, hyllplan, väggar för avgränsning och avdelning, sensorbaserad övervakning för minskade olyckor samt förråd för förvaring.”

Annual report 2024A · The company itself

“Freight powers a managed transportation and logistics network and connects Shippers and Carriers in a digital marketplace to move shipments while leveraging our proprietary technology, brand awareness, and experience revolutionizing industries.”

Annual report 2025A · The company itself

“We connect consumers (“Rider(s)”) with independent providers of ride services (“Mobility Driver(s)”) for ridesharing services, and connect Riders and other consumers (“Eater(s)”) with restaurants, grocers and other stores (collectively, “Merchants”) with delivery service providers (“Couriers”) for meal preparation, grocery and other delivery services.”

Annual report 2025A · The company itself

“Competitive Strengths Our competitive strengths include: Global Smart Logistics Network. We believe that our integrated global air and ground network is the broadest in the industry.”

Annual report 2025A · The company itself

“All packages flow through our single, global network, unless dictated by specific service commitments. This enables efficiently scheduled pick ups for any service level.”

Annual report 2025A · The company itself

“Item 1.Business Overview UPS, founded in 1907, is a global package delivery and logistics provider. We offer a broad range of industry-leading products and services through our extensive global presence, serving over 200 countries and territories.”

Annual report 2025A · The company itself

“Logistics Our global logistics and distribution business provides value-added fulfillment and transportation management services. We operate both multi-client and dedicated facilities across our network, many of which are strategically located near UPS air and ground transportation hubs to support rapid delivery to business and consumer markets.”

Annual report 2025A · The company itself

“The business focuses on growing recurring revenue through Data as a Service and Solutions as a Service in core segments: transportation and logistics, energy and utilities, and finance and insurance.”

Annual report 2025A · The company itself

“Veidekke har rammeavtaler med enkelte grossister, distributører og utleievirksomheter Veidekke har ingen aktivitet innenfor distribusjon og logistikk • Produksjon Ressurser Dette er hovedfasen i realisering av bygg; omfatter alt fra prosjektering til ferdigstillelse Entreprenører, rådgivere og underentreprenører Veidekkes hovedaktivitet ligger i selve produksjonsfasen.”

Annual report 2024A · The company itself

“Infrastruktur omfatter samferdselsprosjekter, som vei, bane og flyplasser, vann og avløp, fundamentering, veivedlikehold, asfaltering og leveranser av steinmaterialer og deponitjenester. Samlet står Infrastruktur for 39 % av Veidekkes omsetning.”

Annual report 2024A · The company itself

“SBM-1 Strategi, forretningsmodell og verdikjede Veidekke er en entreprenør som tilbyr byggherrer i det skandinaviske bygg- og anleggsmarkedet utvikling, oppføring og vedlikehold av bygg og infrastruktur til samferdsel, energi og industri.”

Annual report 2024A · The company itself

“Schibsted Delivery manages both media distribution and ecommerce parcel deliveries in Norway.”

Annual report 2024A · The company itself

“The company is the leading provider of door-to-door deliveries for second-hand goods sold through marketplaces such as FINN and Tise, further solidifying its profitable position in the market.”

Annual report 2024A · The company itself

“Engagement with value chain workers and measures to provide remedy In 2024, our engagement with value chain workers focused on workers within the value chain of Delivery and Morgenlevering.”

Annual report 2024A · The company itself

“The company's strategic focus on fast deliveries may increase the company’s indirect greenhouse gas emissions from distribution in the short and medium term.”

Annual report 2025A · The company itself

“Koncernen bedrev under året passagerar- och frakttrafik med fem helägda fartyg på norra Östersjön och Finska viken.”

Annual report 2024A · The company itself

“Passagerarvolymerna för 2024 har varit relativt stabila. Årets fraktvolymer nådde glädjande rekordnivåer.”

Annual report 2024A · The company itself

“For large business spend, we have been expanding our presence in specific commercial spend verticals, such as fleet and fuel, travel and agriculture. We have also extended our products and capabilities specifically for accounts receivable and accounts payable spend, through either embedded finance capabilities, or new solutions like our Accounts Receivable Manager virtual card automation solution in the U.S.”

Annual report 2025A · The company itself

“We conduct integrated power generation and retail electricity activities, focusing on power generation, wholesale electricity sales and purchases, retail sales of electricity and natural gas to end users and commodity risk management.”

Annual report 2025A · The company itself

“Taxiteknik tillhandahåller programvara för trafikledning, skräddarsydd för taxi- och transportbranschen, främst i Sverige. Företaget erbjuder heltäckande lösningar inklusive ett system för live-kartor, automatiserad bokning, fakturering och en white -label-bokningsapp för slutkunder.”

Annual report 2024A · The company itself

“NL 2024 155 99 % Taxiteknik Taxiföretag, främst i Sverige.”

Annual report 2024A · The company itself

“Delivered by trucks, ships, barges and trains, we provide the materials needed for the infrastructure that maintains and expands the U.S. economy.”

Annual report 2025A · The company itself

“As a result of those strategic acquisitions, as well as other smaller acquisitions and organic growth, Wabtec is a global provider of value-added, technology-based locomotives, equipment, systems and services for the freight rail and passenger transit industries, and the mining, marine, and industrial markets and applications.”

Annual report 2025A · The company itself

“Customers include large, publicly traded railroads, leasing companies, manufacturers of original equipment such as locomotives and freight cars, utilities, and companies in the mining, marine, and industrial markets.”

Annual report 2025A · The company itself

“Our customers include passenger transit authorities and railroads throughout North America, Europe, Asia Pacific, Africa, and South America; utilities; manufacturers of transportation equipment, such as locomotives, freight cars, passenger transit vehicles and buses; companies that own, lease, and maintain such equipment; as well as customers in the mining, marine, and industrial markets and applications and companies in the generation, distribution, and charging industries.”

Annual report 2025A · The company itself

“By fleet size, we are the world’s largest operator of pure car and truck carriers (PCTCs).”

Annual report 2024A · The company itself

“On shore we provide a comprehensive land-based logistics network through eight terminals, 11 inland distribution networks and more than 66 service and processing centers. Strategically located to support customers’ operations, in addition we also work in-house at many manufacturers' plants preparing vehicles for end consumers.”

Annual report 2024A · The company itself

“Benefiting from over 160 years of heritage and history, Wallenius Wilhelmsen includes EUKOR, American Roll-on Roll-off Carrier (ARC), Armacup and Keen, and today has operations in three key segments: Shipping services, logistics services and government services.”

Annual report 2024A · The company itself

“Total revenue was USD 5,308 million for the year 2024, an increase of 3 percent compared to 2023. Shipping revenues were up 1 percent year-over-year (YoY), from USD 3,881 million in 2023 to USD 3,937 million in 2024.”

Annual report 2024A · The company itself

“Logistics revenues were up 5 percent, from USD 1,148 million to USD 1,205 million, as volumes increased as a result of less disruptions in supply chains.”

Annual report 2024A · The company itself

“The occurrence of these events could result in immediate and longer-term impacts on our operations, including physical damage or loss of properties, the closure of stores, clubs and distribution or fulfillment centers, limited operating hours, workforce shortages and challenges in labor availability, the inability of customers and associates to reach or have transportation to our 15 stores and clubs affected by such events, the evacuation of the populace from areas in which our stores, clubs and distribution and fulfillment centers are located, the unavailability of our digital platforms to our customers, and changes in the purchasing patterns of consumers (including the frequency of visits by consumers to physical retail locations, whether as a result of limitations on large gatherings, travel and movement limitations or otherwise).”

Annual report 2026A · The company itself

“Failure to renew, renewal with less favorable terms, or termination of our content licenses and similar distribution agreements may cause a decline in our revenue. Because our content and pay-TV networks are licensed to and distributed through third parties, such as traditional television and pay-TV broadcasters (such as cable and satellite operators) and operators of digital platforms, which in turn make such content available, directly and indirectly, to consumers, we are dependent upon the maintenance of these licensing and distribution agreements with such third parties.”

Annual report 2025A · The company itself

“Overview We are North America’s leading provider of comprehensive environmental solutions, primarily providing services throughout the United States (“U.S.”) and Canada. We partner with our customers and the communities we serve to manage and reduce waste at each stage from collection to disposal, while recovering valuable resources and creating clean, renewable energy. We own or operate the largest network of landfills throughout the U.S. and Canada.”

Annual report 2025A · The company itself

“Webstep is a provider of IT consultancy services and offers expertise to solve demanding digitalization and IT projects in the private and public sector, in a number of different industries including banking, finance and insurance, public administration, agriculture and food production, IT and telecommunication, commerce and transportation.”

Annual report 2024A · The company itself

“Natural Gas Utility Industry We offer natural gas transportation services to our customers that elect to purchase natural gas directly from a third-party supplier. Since these transportation customers continue to use our distribution systems to transport natural gas to their facilities, we earn distribution revenues from them.”

Annual report 2025A · The company itself

“I det första kvartalet tecknar vi avtal med logistikföretaget Dachser i östra Landskrona (Bilrutan 5) om en ny anläggning, som uppförs på bara tio månader. Projektet blir ett första steg mot att utveckla en av flera väl positionerade fastigheter i området med ett strategiskt bra läge och stor potential.”

Annual report 2024A · The company itself

“Income was up for all main business units. EBITDA for the year was USD 109 million, up 3 % from the previous year.”

Annual report 2024A · The company itself

“With global networks, strong brands built over many years, and a long history of innovation and market adaptation, the group is in a good position to service this market.”

Annual report 2024A · The company itself

“Committed to shaping the maritime industry, through our market-leading products, services, and support, the group also seeks to develop new opportunities in renewables, zero-emission shipping, and marine digitalisation.”

Annual report 2024A · The company itself

“Wilhelmsen Holding group (Wilhelmsen or group) is an industrial holding company within the maritime industry. The group’s activities are carried out through fully and partly owned entities, most of which are among the market leaders within their segments.”

Annual report 2024A · The company itself

“Maritime Services • Wilhelmsen Maritime Services AS • Wilhelmsen Ships Service • Wilhelmsen Port Services • Wilhelmsen Ship Management • Wilhelmsen Chemicals • Wilhelmsen Insurance Services • Global Business Services Ships Service Wilhelmsen Ships Service offers a portfolio of maritime solutions to the merchant fleet.”

Annual report 2024A · The company itself

“Total income from Port Services was 162 million in 2024, up 6%. The increase was supported by higher number of vessel appointments and husbandry volumes.”

Annual report 2024A · The company itself

“Ship Management Wilhelmsen Ship Management provides full technical management, crewing, and related services for all major vessel types. Total income for Ship Management was USD 147 million in 2024, up 70% from 2023.”

Annual report 2024A · The company itself

“Maritime Services New Energy Strategic Holdings and Investments The ambition is to be the leading provider of products and services for the global merchant fleet – driving sustainable transformation of the industry.”

Annual report 2024A · The company itself

“Maritime Services provides essential products and services to the global merchant fleet, focusing on the three business units Ships Service, Port Services, and Ship Management.”

Annual report 2024A · The company itself

“Through the shareholdings in these companies, the group will continue to provide and develop world leading logistics services to the global automotive and ro-ro industries.”

Annual report 2024A · The company itself

“USD mill Maritime Services New Energy Strategic Holdings and Invest-ments Group elimination Total Revenue segments Ships Service Port Services Ship Manage-ment Other/ elimination Infrastructure Technology& Decarbon-isation Other/ elimination 2024 Revenue from customers 507 160 149 14 299 3 16 (12) 1 136 Total 507 160 149 14 299 3 16 (12) 1 136 Timing of revenue recognition At a point in time 507 10 3 16 (12) 525 Over time 160 149 4 299 611 Total 507 160 149 14 299 3 16 (12) 1 136 2023 Revenue from customers 477 155 87 14 283 2 5 16 (11) 1 027 Total 477 155 87 14 283 2 5 16 (11) 1 027 Timing of revenue recognition At a point in time 477 10 2 16 (11) 494 Over time Ships service - Sale of goods Wilhelmsen Ships Service offers a wide range of products to the maritime industry.”

Annual report 2024A · The company itself

“The group holds a 37.9% share in listed company Wallenius Wilhelmsen (WAWI), headquartered at Lysaker, Norway. WAWI is a market leader in RoRo shipping and vechile logistics, managing the distrubution of cars, trucks, rolling equipment and breakbulk to customers all over the world.”

Annual report 2024A · The company itself

“The group holds a 11.0% share in Hyundai Glovis, a logistics company headquartered in Seoul, Republic of Korea, listed on the Korean Stock Exchange. Hyundai Glovis’ principal activity is logistics and distribution services. The company provides overseas logistics services, including vehicle export logistics, air freight forwarding, ocean freight forwarding and international express service.”

Annual report 2024A · The company itself

“Any rise in fulfillment expenses could negatively affect our business and operating results. Our inability to successfully manage our order-taking and fulfillment operations could have a negative impact on our business and operating results.”

Annual report 2026A · The company itself

“We outsource certain aspects of our business to third parties that subject us to risks of disruptions in our business as well as increased costs. For example, we utilize outside suppliers for such things as payroll processing, email and other digital advertising and various distribution facilities and delivery services.”

Annual report 2026A · The company itself

“Marine — Marine provides specialist expertise to the maritime and logistics industries. Our Marine business provides insurance broking services related to hull and machinery, cargo, protection and indemnity, fine art and general marine liabilities, among others.”

Annual report 2025A · The company itself

“Customers We sell to emerging, medium-sized, and large global organizations that span numerous industry categories, including financial services, government, healthcare, higher education, hospitality, manufacturing, professional and business services, retail, technology and media, and transportation.”

Annual report 2026A · The company itself

“The company understands the specific requirements of different industries and can offer tailored solutions for sectors such as logistics, healthcare, and property management.”

Annual report 2025A · The company itself

“Annual report Taloudellinen katsaus Wärtsilä Oyj Abp:n vuositilinpäätös 2024 ESEF - formaatissa Taloudellinen katsaus HA TUKSEN TOIMINTAKERTOMUS LIIKETOIMINTAMALLI Wärtsilä toimittaa merenkulkuja energiamarkkinoille innovatiivisia teknologioita ja elinkaariratkaisuja. Energiateollisuudessa Wärtsilä tarjoaa voimajärjestelmien optimointiin muun muassa tulevaisuuden polttoaineilla toimivia säätövoimaratkaisuja, hybridiratkaisuja sekä energian hallintaja varastointijärjestelmiä lähinnä laitteistotoimituksina.”

Annual report 2024A · The company itself

“Merenkulkualan tarjonta käsittää voimantuotantoja propulsiojärjestelmät, laivaliikenteen optimointiratkaisut, pakokaasujen käsittelysovellukset ja akselistoratkaisut.”

Annual report 2024A · The company itself

“Wärtsilän palveluvalikoima kattaa kaiken varaosista ja huollosta suorituskykyperusteisiin sopimuksiin, jotka varmistavat laitosten maksimaalisen elinkaaren sekä paremman hyötysuhteen ja suorituskyvyn.”

Annual report 2024A · The company itself

“Palvelut ovat avainasemassa laitteiden käyttöajan, luotettavuuden, vähäisemmän polttoaineenkulutuksen ja pienempien päästöjen mahdollistajana. Wärtsilällä on keskeinen rooli alusten toiminnan ja koko merenkulun arvoketjun hiilineutraaliuskehityksessä.”

Annual report 2024A · The company itself

“Wärtsilä Marine tarjoaa ratkaisuja koko merenkulkualalle ja on korkealuokkaisten alussegmenttien johtava toimittaja. Näihin lukeutuvat esimerkiksi matkustaja-alukset, LNG-säiliöalukset, erikoisalukset ja offshore-projektit.”

Annual report 2024A · The company itself

“Wärtsilä on kansainvälisesti johtava älykkään teknologian ja kokonaiselinkaariratkaisujen toimittaja merenkulku- ja energiamarkkinoilla.”

Annual report 2024A · The company itself

“Wärtsilä Marine Wärtsilällä on merenkulkuasiakkaita kaikilla suurimmilla alussegmenteillä, kuten perinteiset kauppalaivat, kaasutankkerit, risteilyalukset ja matkustajalautat, laivastot ja erikoisalukset. Öljyja kaasuteollisuudessa Wärtsilä palvelee aktiivisesti offshore-laitoksia ja niihin liittyviä aluksia sekä maalla sijaitsevia kaasulaitoksia. Wärtsilän asiakaskunta koostuu laivanvarustamoista, telakoista ja laivojen liikennöitsijöistä.”

Annual report 2024A · The company itself

“Bygger och utvecklar logistik- och industrianläggningar i Sverige, Danmark, Norge och Finland.”

Annual report 2024A · The company itself

“Wästbygg Gruppens verksamhet är uppdelad i de tre affärsområdena Bostad, Kommersiellt samt Logistik och industri.”

Annual report 2024A · The company itself

“SKA UPPGÅ TILL 50 PROCENT Bostad -41 % 811 1 376 Kommersiellt -9 % 1 657 1 811 Logistik och industri +14 % 1 880 1 656 Andel av affärsområdets intäkter från projektutveckling Bostad 35 % 53 % Kommersiellt 0 % 0 % Logistik och industri 33 % 34 % Wästbygg Gruppen har i över tio år bedrivit verksamheten i de tre affärsområdena Bostad, Kommersiellt samt Logistik och industri. Fokuseringen har gjort oss konkurrenskraftiga inom respektive affärsområde och vi ser en fördel i att kunna vara tydliga med både vad vi gör och vad som inte ingår i vår verksamhet.”

Annual report 2024A · The company itself

“Orderingången för affärsområde Logistik och industri uppgick till 394 mkr (3 925) för helåret och utgjordes av merförsäljning i pågående samt ett tidigare genomfört projekt, samt av projektvinst från avtalet med Niam om försäljning av det pågående utvecklingsprojektet i Norge med Ahlsell som blivande hyresgäst.”

Annual report 2024A · The company itself

“Forward commitmentavtal tecknades med Niam där de förvärvade fastigheten som LC utvecklat för Ahlsell i Norge. Överenskommet fastighetsvärde uppgår till 1 450 miljoner norska kronor.”

Annual report 2024A · The company itself

“Andra större kundgrupper är marinor, möbel- och inrednings producenter samt olika tekniska industrier.”

Annual report 2024A · The company itself

“Industries such as mining, logistics and packaging, particularly in regions with weaker labor protections, present inherent risks related to working conditions, health and safety, fair wages, and fundamental labor rights.”

Annual report 2024A · The company itself

“It marked an important milestone for Yara and for the decarbonization of the food value chain, shipping fuel and other energy-intensive industries.”

Annual report 2024A · The company itself

“Infra, joka keskittyy infrastruktuurin rakentamiseen julkiselle sektorille sekä yksityisille teollisuuden asiakkaille Suomessa.”

Annual report 2025A · The company itself

“Our products are shipped to regional distribution centers, operated by third-party logistics providers or the Company.”

Annual report 2025A · The company itself

“End-users of our offerings include those in retail and e-commerce, manufacturing, transportation and logistics, healthcare, hospitality, public sector, and other industries.”

Annual report 2025A · The company itself

“Distribution We distribute our products both through large, centralized warehouses and through smaller, market specific facilities, depending on the needs of the market. We maintain large, centralized warehouses in the U.S. and Europe to be able to efficiently distribute our products to customers in those regions. In addition to these centralized warehouses, we maintain smaller distribution facilities in the U.S. and in each of the countries where we have a direct sales presence.”

Annual report 2025A · The company itself

“Unavailability of transportation mechanisms for carrying products and raw materials •Some of our agtech industry tenants’ and venture investment portfolio companies’ businesses depend on transportation services to deliver their products or to deliver raw materials to their clients. If transportation service providers are unavailable or fail to deliver our agtech industry tenants’ or venture investment portfolio companies’ products in a timely manner, they may be unable to manufacture and deliver their services and products on a timely basis.”

Annual report 2025A · The company itself

“Den politiska strejken i Finland under det första kvartalet påverkade vår verksamhet i landet. Strejken påverkade Bolidens tillgång till kritisk infrastruktur som järnväg och hamnar, men påverkan på produktionen var begränsad.”

Annual report 2024A · The company itself

“In addition, we are currently transitioning one of our international 3PLs to a new partner, which may create temporary operational risks.”

Annual report 2026A · The company itself

“Freight transport services by road CCM 6.6”

Annual report 2025A · The company itself

“Logistiikan suunnittelussa ja hankinnassa jatkettiin kuljetusten optimointia. Logistiikassa (scope 3.4 ja 3.9) kuljetuskumppaneiden omat ilmastotavoitteet sekä uudet ajoneuvohankinnat tukevat myös yhtiön päästövähennyksiä.”

Annual report 2025A · The company itself

“Uppströms Nedströms Intressenter i värdekedjan Leverantörer Uppdragsgivare Medarbetare Kunder Samhället Aktieägare Aktiviteter Våra primära leverantörer förser oss med varor och tjänster inom följande kategorier: • IT, vilket omfattar bland annat infrastruktur, hårdvara, programvara och molntjänster. • Inhyrd personal och konsulttjänster • Fastighet • Bud- och posttjänster • Bank- och investeringstjänster • Juridiska tjänster Vi har kring 80 00 uppdragsgivare vilka utgörs av företag i olika storlekar och branscher.”

Annual report 2024A · The company itself

“Additionally, we used $127 million for purchases of property, plant and equipment, net of $1 million of government incentives, and $7 million for purchase of investments, partially offset by $399 million provided by the divestiture of Spirent’s high-speed ethernet, network security and channel emulation business lines to Viavi Solutions Inc. and $30 million provided by sale of investments.”

Annual report 2025A · The company itself

“The main upstream business actors include suppliers of raw materials and wind turbine components, project developers and transportation providers.”

Annual report 2025A · The company itself

“These events and others, such as fluctuations in travel and energy costs, supply chain disruptions and malware and other cyber-related attacks or intrusions or other widespread computing, telecommunications or payment processing failures, from time to time disrupt our ability to provide our products and services, raise the cost of providing our products and services and in certain instances affect our ability to obtain insurance coverage with respect to some of these events.”

Annual report 2025A · The company itself