Thermador Groupe · EURONEXT:THEP
Thermador Groupe — Q3 2025 Earnings Presentation
16 slides from Thermador Groupe's earnings presentation, Oct 20, 2025
Slide 1: Q3 2025 turnover
Q3 2025 turnover 20th October 2025
Slide 2: Group workforce
Group workforce 911 911 people 821 798 770 712 668 599 476 439 314 319 271 278 Arrivals from C2AI (45 people) and Quilinox (40 people) in 2025 13 14 15 16 17 18 19 20 21 22 23 24 10/ 25
Slide 3: Milestones
Milestones DIY market Public works Quilinox Building Watering The swimming Industry pool
Slide 4: Our business - Specialised distribution
Our business - Specialised distribution OUR SUPPLIERS : 1099 factories of partner-manufacturers France International OUR CUSTOMERS MANUFACTURE DIY FOOD, RS WHOLESALERS SUPERSTORES, WHOLESALERS E-COMMERCE E-COMMERCE E-COMMERCE WEBSITES WEBSITES WEBSITES, MARKETPLACES MARKETPLACES MARKETPLACES, AGRICU
Slide 5: Volumes from 2021 to 2025
Volumes from 2021 to 2025 2021 2022 2023 2024 2025 25.0% 21.1% 20.0% 16.8% 15.0% 12.0% 10.8% 10.0% 5.9% 4.3% 5.0% 1.2% 0.0% -1.8% -1.5% -5.0% -2.6% -4.1% -5.6% -10.0% -7.7% -10.9% -15.0% -13.5% -20.0% Organic growth in sales Selling price effect Average changes a volume Organic sales growth Selling
Slide 6: New housing in France
New housing in France Number of dwellings authorised and started each month Thousand of dwellings, unadjusted data Building permits granted Housing starts
Slide 7: Coédis
Coédis End of September : COEDIS: -3.6 % 20.0% 15.8% 15.0% 10.1% 10.0% 7.1% 6.6% 4.8% 5.0% 3.1% 0.9% 1.5% 0.1% 0.5% 0.3% 0.0% -0.3% -0.7% -1.8% -5.0% -2.8% -3.9% -6.0% -5.0% -5.5% -4.8% -5.5% -4.9% -6.6% -10.0% -8.2% -8.2% -7.8% -9.3% -9.0% -10.9% -15.0% -14.8% -14.5% -15.6% -16.2% -20.0% ▪ Coedis i
Slide 8: Inoha
Inoha End of September : INOHA: -1.4% 4.0% 2.7% 2.0% 0.7% 0.0% -0.8% -2.0% -1.6% -2.0% -1.8% -2.1% -2.1% -2.2% -2.4% -2.5% -2.9% -4.0% -3.5% -4.4% -4.8% -4.8% -6.0% -5.9% -5.7% -8.0% -8.0% -10.0% Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25
Slide 9: Industry France and Europe
Industry France and Europe France, end of August Eurozone, end of August PMI index for French manufacturing industry PMI index for Eurozone manufacturing industry cvs, >50 = improvement on previous month cvs, 50 = no change Sources : HCOB, S&P Global PMI
Slide 10: Turnover
Turnover Variation Variation In €k 2025 2025 2024 2025/2024 to constant scope 2025/2024 To constant scope RETAIL 62,430 62,430 68,922 -9.4% -9.4% PROFESSIONAL CHANNEL 320,283 315,126 321,339 -0.2% -1.9% TOTAL 383,088 377,931 390,551 -1.9% -3.2%
Slide 11: Financial structure
Financial structure EQUITY STOCK €384m versus €365m €165,3m versus €174,9m CASH POSITION LOANS AND FINANCIAL DEBT €85m versus €46,8m €47,6m versus €32,6m ACCOUNTS RECEIVABLE Low and controlled risks
Slide 12: Financial structure
Financial structure 85 CASH (in €m) €85M 63,3 39,9 35,2 32,3 29 28,6 27,4 27,4 23 20,8 16 14 15 16 17 18 19 20 21 22 23 24 Sept. 2025
Slide 13: Capital expenditure
Capital expenditure 14 12 10 8 Forecasts 6 4 2 0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Investissements Dont investissements immobiliers Investments Of which, real estate investments
Slide 14: Return on reinvested dividends - 2015-2025
Return on reinvested dividends - 2015-2025 From 19/10/2015 to 18/10/2025 Thermador Groupe: 10.3% per year CAC 40: 8.6% per year CAC M&S: 5.7% per year
Slide 15: Outlook
Outlook New Industr housing y MaPrimeRénov’ and energy certificates Acquisitions (CEE) DIY Prices Public Staff works
Slide 16: Organic growth by quarter
Organic growth by quarter 50.0% 43.9% 40.0% 30.0% 28.0% 20.0% 15.9% 14.1% 11.5% 12.3% 10.3% 10.3% 8.5% 10.0% 5.4% 6.7% 2.2% 0.6% 0.0% -2.0% -2.1% -10.0% -6.4% -8.9% -9.7% -9.1% -8.8% -11.3% -14.9% -20.0% -17.2% -30.0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2020 2021 202