Aalberts N.v. · EURONEXT:AALB
Aalberts — Shareholder Meeting (April 2026)
81 slides from Aalberts's shareholder meeting presentation, Apr 9, 2026
Slide 1: General meeting Aalberts N.V.
general meeting Aalberts N.V. Utrecht, 9 April 2026
Slide 2: Agenda
agenda 9 April 2026 Aalberts N.V. | general meeting 2026 2
Slide 3: Agenda
agenda 9 April 2026 Aalberts N.V. | general meeting 2026 3
Slide 4: Slide 4
Slide 5: 2025 in review
2025 in review @ Global Compact WEB Network Nethertands membership of the United Nations Global ‘Compact (UNGC) Ql T launch of the sustainability campaign ‘our power our plant’ A eSaRE SS We annual Aalberts leadership conference attendance ISH fair in Frankfurt, Germany, showcasing latest building i
Slide 6: 2025 in review (Q3-Q4)
completion of the acquisition of Geo-Flo in America (building) appointment Steve Kenny as CEO of Aalberts hydronic flow control attendance the Utrecht Singelloop, the Netherlands. attendance Data Center Paris with two of our business segments celebration 50 years 12,000 sqm surface of MIFA treatment
Slide 7: Aalberts
A. aalberts mission critical technologies (a - - : vat, a's) = s pan ew ey
Slide 8: Full year results 2025
full year results 2025 Utrecht, 26 February 2026
Slide 9: Key message
key message Stéphane Simonetta chief executive officer
Slide 10: Key message
key message 1 performance impacted by continued short-term end markets softness 2 disciplined execution of operational excellence to protect margins 3 free cash flow improvement with lower inventories and capex 4 good progress on portfolio optimisation, accretive to segment growth% and EBITA% 5 firs
Slide 11: Full year 2025 performance
full year 2025 performance revenue EUR 3,091 million, organic revenue decline at 2.5% EBITA EUR 410 million before exceptionals, EBITA margin at 13.2% added value sustained at 63% free cash flow at EUR 361 million, inventory reduction by EUR 155 million, DIO at 82 capital expenditure EUR 189 million
Slide 12: Aalberts at a glance
Aalberts a glance revenue EBITA FCF mission-critical active in locations worldwide (EUR million) (EUR million) (EUR million) people countries 3,091 410 361 12k+ 125+ 50+ building industry semicon we engineer integrated solutions for we enable industrial customers to we provide front-end and back-end
Slide 13: Why owning Aalberts?
why owning Aalberts? urbanisation technology reshoring decarbonisation strong need for acceleration comfortable and healthy regionalisation of growing demand for buildings, sustainable exponential need for critical manufacturing energy efficiency and transportation and AI computing power, drives nee
Slide 14: Operational development
operational development Stéphane Simonetta chief executive officer
Slide 15: Revenue breakdown
revenue breakdown semicon | 15% EUR 0.5 billion Europe America building | 50% EUR 1.6 billion 24% 69% of total revenue of total revenue other APAC, Middle East, Africa non- 7% residential lithography lithography of total revenue EUR industrial 3,091 applications million commercial SDG impact 71% aer
Slide 16: Segment reporting
segment reporting building industry semicon revenue (in EUR million) 1,565 1,086 460 organic growth (% of revenue) 1.3% (2.8%) (13.8%) EBITA margin (% of revenue) 11.7% 17.2% 11.9% 9 April 2026 Aalberts N.V. | general meeting 2026 16
Slide 17: Building | operational development
building | operational development highlights performance financials operational organic growth » EBITA margin at 11.7% » closure of Doncaster (UK) site » full year organic revenue growth 1.3% complete » added value maintained on a » Q4 organic revenue decline 0.6% solid level » purchasing excellenc
Slide 18: Building | end markets
building | end markets residential buildings commercial buildings industry, utility 2025 2026 2025 2026 2025 2026 market market market market market market trend trend trend trend trend trend long-term growth drivers growing demand for comfortable energy efficient buildings, increase of labour short
Slide 19: Industry | operational development
industry | operational development highlights performance financials operational organic growth » EBITA margin at 17.2% » operational excellence » full year organic revenue decline 2.8% initiatives, footprint optimisation » resilient performance, margin » Q4 organic revenue growth 0.3% protections w
Slide 20: Industry | end markets
industry | end markets automotive aerospace power gen and machine build and defence other industrials 2025 2026 2025 2026 2025 2026 2025 2026 market market market market market market market market trend trend trend trend trend trend trend trend long-term growth drivers growing need for more sustain
Slide 21: Semicon | operational development
semicon | operational development highlights performance financials operational organic growth » EBITA margin at 11.9% » construction of new location » full year organic revenue decline 13.8% Dronten (NL) on track, » added valued remained on a equipment installed » Q4 organic revenue decline 9.9% go
Slide 22: Semicon | end markets
semicon | end markets front-end back-end other industries semicon production semicon production defence, life science, equipment equipment 2025 2026 2025 2026 2025 2026 market market market market market market trend trend trend trend trend trend long-term growth drivers new applications driving ove
Slide 23: Environmental performance
environmental performance SDG rate scope 1 and 2 absolute CO2 emissions (in %) accumulative progress (%) 71% -5% 2030 target >70% 2030 target target -40% 2025 2025 71% 2025 -34% -5%* 2024 71% 2024 -29% 2021 66% 2018 base year *organic improvement we have made good progress on environmental performan
Slide 24: Financial development
financial development Frans den Houter chief financial officer
Slide 25: Financial development
financial development revenue EBITA margin capital expenditure free cash flow (in EUR million) (in % before exceptionals) (in EUR million) (in EUR million before exceptionals) organic (2.5%) (1.8) (18)% 8% 3,149 3,091 15.0 231 361 13.2 334 189 53.8% 64.2% 2024 2025 2024 2025 2024 2025 2024 2025 o bu
Slide 26: Revenue bridge
revenue bridge 105.4 -59.6 3,148.6 -26.4 3,090.8 -77.2 actual 2024 acquisitions divestments currency organic actual 2025 lower revenue driven by organic decline 9 April 2026 Aalberts N.V. | general meeting 2026 26
Slide 27: EBITA bridge
EBITA bridge before exceptionals 18.7 471.1 -4.0 -3.3 409.5 -73.0 15.0% 13.2% actual 2024 acquisitions divestments currency organic actual 2025 lower EBITA driven by organic decline 9 April 2026 Aalberts N.V. | general meeting 2026 27
Slide 28: Free cash flow bridge
free cash flow bridge before exceptionals 62.3 361.0 -13.6 334.1 37.0 -58.8 53.8% 64.2% actual 2024 EBITDA CAPEX cash out NWC other actual 2025 strong free cash flow conversion 53.8% and 64.2% correspond to free cash flow conversion ratio 9 April 2026 Aalberts N.V. | general meeting 2026 28
Slide 29: EPS bridge
EPS bridge before exceptionals 0.16 3.12 -0.17 -0.13 -0.09 -0.02 0.04 2.61 -0.30 actual 2024 acquisitions divestments finance cost tax (%) currency organic share buyback actual 2025 lower EPS due to organic decline and higher finance cost 9 April 2026 Aalberts N.V. | general meeting 2026 29
Slide 30: Segment reporting
segment reporting holding | building industry semicon eliminations revenue (in EUR million) 1,565 1,086 460 (19.5) 2024: 1,603 2024: 1,061 2024: 501 2024: (16.1) organic revenue growth 1.3 (2.8) (13.8) (% of revenue) 2024: (3.0) 2024: (7.5) 2024: 4.7 EBITA (in EUR million) 184 186 55 (14.8) 2024: (4
Slide 31: Balance sheet items
balance sheet items net debt leverage ratio equity solvability (in EUR million) (net debt / EBITDA) (in EUR million) (total equity as a % of total assets) 981 1.8 2,427 56.1 2024: 597 2024: 1.0 2024: 2,605 2024: 61.6 capital employed ROCE net working capital days net working capital (in EUR million)
Slide 32: Exceptional costs
exceptional costs » accelerated operational excellence programmes EUR 40.8 million (2024: EUR 54.8 million) » annual benefit of approximately EUR 15 million » write-off of investments, mostly related to semicon innovation with no perspective of commercialization EUR 28.9 million » costs related to t
Slide 33: Capital allocation 2021-2025
capital allocation 2021-2025 EUR million acquisitions and 700 divestments acquired revenue 2025 EUR 215 million 600 M&A divested/deconsolidated revenue 2025 EUR 325 million capital expenditure 500 400 capex organic capex cash out EUR 204 million 300 cash out share buyback 200 SBB total shareholder a
Slide 34: Proposed shareholder returns
proposed shareholder returns dividend proposal share buyback proposal cash dividend EUR 1.15 per share EUR 75 million programme 1.13 1.15 EUR 75 million EUR 75 million 36% net result 44% net result 2024 2025 2025 2026 commencing on 27 February 2026 for the purpose of repurchasing and subsequently ca
Slide 35: Strategy in action
strategy in action Stéphane Simonetta chief executive officer
Slide 36: Our strategy 'thrive 2030'
our strategy ‘thrive 2030’ refocus. rebalance. recharge. our playing field four global tailwinds strategic priorities 1 profitable growth urbanisation semicon building 2 leadership positions technology acceleration reshoring 3 the Aalberts way decarbonisation 4 sustainable commitments industry engin
Slide 37: 'thrive 2030' – deployment strategic actions
‘thrive 2030’ – deployment strategic actions profitable leadership the Aalberts sustainable 1 2 3 4 growth positions way commitments » end market short- » transformative » operational and » continued progress, term softness acquisitions, functional excellence on track with our continued rebalancing
Slide 38: Organic growth initiatives
1 organic growth initiatives building industry semicon prefab solutions Hungary capacity front-end and back-end expansion co-development products and services data centre aerospace defence solutions industry industry 9 April 2026 Aalberts N.V. | general meeting 2026 38
Slide 39: Organic growth | data centres
1 organic growth | data centres flow control and valve technologies reliable system control for engineered and efficient and resilient cooling prefabricated systems engineered pre-fab solutions for speed, quality and reliability safe, fast and scalable piping and connection technologies piping and c
Slide 40: Innovate to differentiate
1 innovate to differentiate building industry semicon customer enable energy transition enable decarbonisation design to value need tackle labour shortages journey of our customers long-term partnership invest in digital offering focus invest in R&D and invest in subsystem integration our integrated
Slide 41: Portfolio optimisation, 2024-2025 progress
2 portfolio optimisation, 2024-2025 progress 2024 2025 2026-2030 ‘thrive 2030’ CMD ‘thrive 2030’ kick-off building and industry USA extension, PMI execution, continue to execute semicon Southeast Asia entry, European strategy with value accretive divestments in building and industry acquisitions M&A
Slide 42: GVT transformative acquisition for semicon
2 GVT transformative acquisition for semicon » 5 sites in Southeast Asia across Singapore, Malaysia, China » entry and access to new blue-chip customers » post merger integration on track » system build and qualifications with robust organic growth expected in key verticals; semicon front-end, back-
Slide 43: Operational excellence 2025 progress
3 operational excellence 2025 progress footprint inventory operations optimisation reduction productivities 4 sites closed EUR 155 million ~ EUR 25 million reduction in inventories saving scenario planning & tariffs taskforce DIO 82 days aligned cost base (-12 days) with customer demand driving oper
Slide 44: Net zero carbon roadmap
4 net zero carbon roadmap net zero carbon focus initiatives progress 2025 targets 2030 2050 scope 1+2 o drive energy efficiency energy use o electrification absolute34% absolute40% continue in CO2 intensity and absolute intensity40% intensity50% progress o use renewable energy versus 2018* versu
Slide 45: 2026 outlook
2026 outlook aalberts
Slide 46: Looking forward to 2026
looking forward to 2026 building industry semicon market o continued growth expected in o aerospace, power generation and o customer order books dynamics commercial buildings defence high growth outlook strengthening with destocking coming to an end o no short-term rebound expected o automotive sect
Slide 47: Summary
summary 1 drive organic growth in attractive end markets with business development, geographical expansion and innovation 2 execute operational excellence to improve margins 3 navigate short-term market dynamics with scenario planning 4 deliver solid FCF with further inventory improvements and tight
Slide 48: Questions and answers
questions and answers aalberts.com/investors aalberts.com/investors
Slide 49: Agenda
agenda 9 April 2026 Aalberts N.V. | general meeting 2026 49
Slide 50: Annual General Meeting – Audit financial statements 2025
Annual General Meeting Aalberts N.V. Audit financial statements 2025 & Assurance engagement sustainability reporting 2025 EY Accountants BV April 9, 2026
Slide 51: Audit approach & focus
Audit approach & focus Scope Strategy & Execution Conclusion Statutory and consolidated financial statements Responsibilities Audit procedures • Key Audit Matters Teaming Annual/board report, including: Board report • Corporate Governance Materiality • Risk management, including VOR Our opinion • CS
Slide 52: Agenda
agenda 9 April 2026 Aalberts N.V. | general meeting 2026 52
Slide 53: Voting instructions
voting instructions abstention against for 9 April 2026 Aalberts N.V. | general meeting 2026 53
Slide 54: Test question
test question Will all shareholders clearly mention their name and organisation when they ask a question in this meeting? 9 April 2026 Aalberts N.V. | general meeting 2026 54
Slide 55: Advisory vote
advisory vote 3a. Advisory vote regarding the remuneration report 2025 (advisory vote) 9 April 2026 Aalberts N.V. | general meeting 2026 55
Slide 56: Agenda
agenda 9 April 2026 Aalberts N.V. | general meeting 2026 56
Slide 57: Vote
vote 3b. Adoption of the Company’s and consolidated financial statements 2025 (vote) 9 April 2026 Aalberts N.V. | general meeting 2026 57
Slide 58: Agenda
agenda 9 April 2026 Aalberts N.V. | general meeting 2026 58
Slide 59: Agenda
agenda 9 April 2026 Aalberts N.V. | general meeting 2026 59
Slide 60: Vote
vote 4b. Adoption of the dividend for the financial year 2025 (vote) 9 April 2026 Aalberts N.V. | general meeting 2026 60
Slide 61: Agenda
agenda 9 April 2026 Aalberts N.V. | general meeting 2026 61
Slide 62: Vote
vote 5a. Granting of discharge to the members of the Management Board in office in 2025 for the policy pursued in the financial year 2025 (vote) 9 April 2026 Aalberts N.V. | general meeting 2026 62
Slide 63: Agenda
agenda 9 April 2026 Aalberts N.V. | general meeting 2026 63
Slide 64: Vote
vote 5b. Granting of discharge to the members of the Supervisory Board in office in 2025 for the supervision exercised on the policy pursued in the financial year 2025 (vote) 9 April 2026 Aalberts N.V. | general meeting 2026 64
Slide 65: Agenda
agenda 9 April 2026 Aalberts N.V. | general meeting 2026 65
Slide 66: Vote
vote 6a. Authorisation to repurchase shares (vote) 9 April 2026 Aalberts N.V. | general meeting 2026 66
Slide 67: Agenda
agenda 9 April 2026 Aalberts N.V. | general meeting 2026 67
Slide 68: Vote
vote 6b. Authorisation to cancel shares (vote) 9 April 2026 Aalberts N.V. | general meeting 2026 68
Slide 69: Agenda
agenda 9 April 2026 Aalberts N.V. | general meeting 2026 69
Slide 70: Vote
vote 7. Adoption of the revised remuneration policy of the Management Board (vote) 9 April 2026 Aalberts N.V. | general meeting 2026 70
Slide 71: Agenda
agenda 9 April 2026 Aalberts N.V. | general meeting 2026 71
Slide 72: Vote
vote 8. Designation of the Management Board as body authorised to issue ordinary shares and to grant rights to subscribe for ordinary shares (vote) 9 April 2026 Aalberts N.V. | general meeting 2026 72
Slide 73: Agenda
agenda 9 April 2026 Aalberts N.V. | general meeting 2026 73
Slide 74: Vote
vote 9. Designation of the Management Board as body authorised to restrict or exclude pre- emptive rights when issuing ordinary shares (vote) 9 April 2026 Aalberts N.V. | general meeting 2026 74
Slide 75: Agenda
agenda 9 April 2026 Aalberts N.V. | general meeting 2026 75
Slide 76: Vote
vote 10a. Reappointment EY Accountants B.V. to audit the Company’s and consolidated financial statements for the financial year 2027 (vote) 9 April 2026 Aalberts N.V. | general meeting 2026 76
Slide 77: Agenda
agenda 9 April 2026 Aalberts N.V. | general meeting 2026 77
Slide 78: Vote
vote 10b. Reappointment EY Accountants B.V. to carry out the limited assurance engagement for the sustainability statement for the financial year 2027 (vote) 9 April 2026 Aalberts N.V. | general meeting 2026 78
Slide 79: Agenda
agenda 9 April 2026 Aalberts N.V. | general meeting 2026 79
Slide 80: Agenda
agenda 9 April 2026 Aalberts N.V. | general meeting 2026 80
Slide 81: Aalberts
aalberts mission critical technologies