Belysse Group Nv · EURONEXT:BELYS
Belysse Group Nv — FY2024 Earnings Presentation
15 slides from Belysse Group Nv's earnings presentation, Mar 7, 2025
Slide 1: Full Year 2024 Results
Full Year 2024 Results BELYSSE’ itC modulyss qlarcedition == BENTLEY’
Slide 2: Disclaimer
Disclaimer In considering any performance information contained herein, you should bear in mind that past or projected performance is not necessarily indicative of future results, and there can be no assurance that any entity referenced herein will achieve comparable results or that illustrative ret
Slide 3: Introduction
Introduction Full Year 2024 Financial Summary Financial Review Beyond Update Conclusion Q&A a kw N > a James Neuling Andy Rogiest Ruben Pattheeuws Chief Executive Officer Chief Financial Officer Group Director of Sustainability and Strategic projects
Slide 4: Full Year 2024 Financial Summary
Full Year 2024 Financial Summary FY 2024 ed Revenue o Revenue growth by * US (3.9) + Europe (1 26.0% organic FY 2024 Consolidated Adjusted EBITDA of €42.4m YoY Adj. EBITDA + US €32.0m growth 0.1)% + Europe €10.4m FX impact 3,1x + Net Leverage reduced to 3,Ix at the end of 2024 compared to 4,5x Net D
Slide 5: Financial Review
Financial Review
Slide 6: Group Revenue
Full Year 2024 Group Revenue €m 300.9 (14.2) Revenue FY 2023 Europe (10.2)% (6.3) 280.4 as US Revenu FY 2024 (3.9)% FY 24 Growth (€m) Organic (20.4) FX Impact (0.1) Reported (20.5) FY 24 Growth (6.8)% (0.0)% (6.8)% FY24 consolidated Revenue was €280.4m (-6.8% YoY). In US, Revenue decreased by 3.9% t
Slide 7: Group Adjusted EBITDA
Full Year 2024 Group Adjusted EBITDA Adj. EBITDA Margin (%) i €m 8.8 0.0 42.4 33.7 26.1% (0.1)% 26.0% EBITDA FY 2023 Growth FX Impact EBITDA FY 2024 Europe 10.4 3.0 241.6% US 32.0 30.6 4.6% Consolidated Adjusted EBITDA 42.4 33.7 26.0% FY24 Adjusted EBITDA was €42.4m (26.0% YoY) with an Adjusted EBIT
Slide 8: Cash Flow
Full Year 2024 Cash Flow 424 20 (10.2) 38.6 35-8 (288) oo os ot oe a oe 6, . ot eon? end ok OF A ay oo? ow errea™ Cash at the end of 2024 was at €38.6m. The positive Cash Flow of €2.8m in 2024 was mainly driven by the Adjusted EBITDA of €42.4, while positive changes in Other Working Capital (OWC) co
Slide 9: Leverage stands at 3.1x, excluding IFRS lease liabilities
Leverage! stands at 3.1x, excluding IFRS 16 lease liabilities €m ch HM HHH eRHH Ei LTM Adj. Cash EBITDA Net Debt at the end of the period was €135.0m (including €26.6m related to IFRS16 lease liabilities), being €4.2m lower than reported at end of H1 2024. 151 ay 4s 139 135° NetLeverage reduced to 3
Slide 10: BEYOND update
BEYOND update
Slide 11: Sustainability through Innovation
Sustainability through Innovation ed —_— cradletocradle * Total scope 1 and 2 CO, emissions in our production plants per m’ produced have been reduced by 23% compared to the 2018 baseline. During 2024, several new initiatives were launched, such as technical modifications to reduce energy consumptio
Slide 12: Our Lean program delivered €1.6m savings in 2024
Our Lean program delivered €1.6m savings in 2024. Savings since the start in 2022 are 17% above target. As areminder: objective of this Lean program is to deliver €8m cumulative savings over a 4-year period (2022 — 2025). FY24 results amount to €1.6m P&L savings vs. 2023, against a target of €1.7m.
Slide 13: Agility
Agility ° We are continuously working to further improve our delivery performance and service level to our customers, at the same time managing our end-to-end inventory: o Our Fast Track quick-ship program at Bentley, designed for maximum flexibility and expedited delivery to the client, covering a
Slide 14: Conclusion
Conclusion FY24 Consolidated Revenue was €280.4m and Adjusted EBITDA significantly improved to €42.4m, resulting in an increase of Adjusted EBITDA margin to 15.1%. Bentley Mills, our US division, realized a full year Revenue slightly below 2023. However, further improved efficiencies more than offse
Slide 15: Scheduled Event
eduled Event rading update pril 2025