Slide 1: FY2025 Results Presentation
FY2025 RESULTS PRESENTATION 26 June 2025 Making critical connections
Slide 2: Agenda
AGENDA HIGHLIGHTS FINANCIAL STRATEGIC SUMMARY Q&A AND REVIEW UPDATE AND OUTLOOK OPERATIONAL REVIEW Nat Rothschild Jon Boaden Nat Rothschild Nat Rothschild Executive Chairman Chief Financial Officer 2
Slide 3: Highlights in FY2025
HIGHLIGHTS IN FY2025 Strong profitable growth in challenging market backdrop Successfully delivering our strategy: $1,086.5m +11.1% Revenue Organic • Investing in delivering manufacturing centres of excellence revenue growth • Essential and trusted partner to global technology companies • Delivering
Slide 4: Our Investment Proposition
OUR INVESTMENT PROPOSITION Positioned 5 years Proven track Underlying operating in structural Global footprint record of growth margin between 9-10% growth markets and scale and margin delivery 11.0% Average organic growth over the past five years Engineering-led Agile and Value enhancing innovation
Slide 5: Navigating Evolving Tariff Landscape
Potential exposure from tariff change NAVIGATING EVOLVING TARIFF LANDSCAPE 4% Mexico Creates opportunities to support customers Potential tariff China 2% 88% exposure 12% Not impacted by Other Ability to relocate operations seamlessly tariff changes countries 6% Single points of contact Manufacturer
Slide 6: Financial Review
FINANCIAL REVIEW
Slide 7: Sustained Strong Financial Performance
SUSTAINED STRONG FINANCIAL PERFORMANCE REVENUE UNDERLYING OPERATING PROFIT UNDERLYING OPERATING MARGIN FY2025 +19.0% $1,086.5m FY2025 +18.4% $106.2m FY2025 9.8% FY2024 $912.8m FY2024 $89.7m FY2024 9.8% FY2023 $722.8m FY2023 $67.3m FY2023 9.3% ORGANIC REVENUE GROWTH RETURN ON CAPITAL EMPLOYED COVENAN
Slide 8: Electric Vehicles
ELECTRIC VEHICLES Accessories & Other Strong return to growth 12% Vehicle parts 31% With a leading position in this market, we continue to invest in new product development, Grid cords strengthen vertical integration and enhance manufacturing efficiency, delivering cost and 27% logistic optimisation
Slide 9: Consumer Electricals
CONSUMER ELECTRICALS Industrial & Competitive production supporting volume growth Other 19% Domestic We support global manufacturers of domestic appliances with highly reliable internal power appliances and data harnesses. Our end-to-end manufacturing process ensures consistent product 56% quality a
Slide 10: Medical
MEDICAL Life science Anticipated reduction, but strong long term prospects Medical 9% device 11% Volex provides a complete range of integrated manufacturing to the medical market. With 44% highly skilled and experienced engineering and manufacturing teams, medical standard Diagnostics 16% quality pr
Slide 11: Complex Industrial Technology
COMPLEX INDUSTRIAL TECHNOLOGY IT / Telecoms Data centre volumes boosted by AI demand 10% Aerospace & Defence 15% Data Volex has deep expertise in wire harnesses, printed circuit board assemblies (‘PCBa’), and centre integrated box builds, which are utilised in diverse industry solutions. We create c
Slide 12: Off-Highway
OFF-HIGHWAY Defence Diversification and scale in an attractive sector Construction 7% 9% Commercial Volex manufactures ruggedised, custom wiring harnesses and battery cables designed for 39% & Other off-highway and specialist vehicles. These products ensure robust power transmission and Industrial 1
Slide 13: Operating Margins Maintained Within Target Range
OPERATING MARGINS MAINTAINED WITHIN TARGET RANGE Growth investments Continued targeted, customer-led 0.9% investments to support long term growth 1.5% Product mix (1.0%) Greater contribution from higher margin complex products 9.8% 0.2% 9.8% Inflation (1.6%) Majority of inflationary impact comes fro
Slide 14: Cash Flow
CASH FLOW $m FY25 FY24 Underlying EBITDA 134.7 111.6 Net capital expenditure (45.3) (31.2) Underlying EBITDA - $135m +21% Underlying working capital (18.2) 1.5 Increased revenue, with margins maintained Net interest and tax (29.2) (24.5) Capex investment of $45m, 4.2% of revenue Other including pens
Slide 15: Generating Excellent Returns
GENERATING EXCELLENT RETURNS Return on capital employed 21.9% 20.3% 20.7% 19.7% Maintained strong returns During a year of increased investment and expansion Background of increased FY22 FY23 FY24 FY25 investment Basic underlying earnings per share Additional working capital required to support cust
Slide 16: Capital Allocation Prioritises Sustainable Growth
CAPITAL ALLOCATION PRIORITISES SUSTAINABLE GROWTH ORGANIC GROWTH ACQUISITIONS ORDINARY CAPITAL RETURNS DIVIDENDS Capital investments key to Enhance capabilities and Sustainable through-cycle If cannot generate greater strategic growth grow customer base dividend value elsewhere Usually between 3-4%
Slide 17: Strategic Update
STRATEGIC UPDATE
Slide 18: Our Clearly Defined, Proven Strategy
OUR CLEARLY DEFINED, PROVEN STRATEGY Market Focused Embedded Disciplined … AND BUILDING A Agile, BALANCED AND leadership investment to relationships acquisitions decentralised in structural differentiate through to drive culture FUTURE-PROOFED growth adding value growth sectors BUSINESS: ENABLES OUR
Slide 19: Focused on the Right End-Markets
FOCUSED ON THE RIGHT END-MARKETS Advantages Importance of quality Complex Technical drawings Products need to be Medical Complex Long product cycles able to withstand wear Off-Highway Industrial Specific accreditations and tear e.g. tractors Technology operating in rugged fields Complexity Electric
Slide 20: Creating Centres of Excellence
CREATING CENTRES OF EXCELLENCE 21% additional production space 27 manufacturing locations added this year, on top of 9% last year Strategically located Centres of Closure of one factory in China, Excellence reflecting local focus in region Provide one-stop shop for Largest sites capable of deliverin
Slide 21: Case Study: Leveraging Global Vertical Integration
CASE STUDY: LEVERAGING GLOBAL VERTICAL INTEGRATION Hypervolt make cutting-edge smart EV charging solutions Volex is the global manufacturing partner for Hypervolt Adding value through our vertically integrated capabilities Demonstrates how our capabilities support innovative technology companies 21
Slide 22: Successful Acquisition Framework
SUCCESSFUL ACQUISITION FRAMEWORK Embedded Key Attractive High-mix and relationships / lock- requirements valuations complex products in Preference for operating locations that are cost competitive with low trade barriers Considerations More often Less often Industrial Consumer Electricals End-market
Slide 23: Integration of Murat Ticaret
INTEGRATION OF MURAT TICARET Productivity improvements PROFITABILITY Site optimisation / relocation ENHANCEMENT Added scale Supply chain efficiency Strengthened Off-Highway High inflation in Türkiye position OPTIMISING Profitability remains aligned with Group’s target range COST BASE Strong customer
Slide 24: On-Track to Deliver Five-Year Plan to FY2027
ON-TRACK TO DELIVER FIVE-YEAR PLAN TO FY2027 $1,200m 9-10% Revenue $1,200.0m Underlying $1,086.5m operating margin $912.8m 9.8% 9.8% 9.3% FY2027 $722.8m target FY2023 FY2024 FY2025 FY2027 FY2023 FY2024 FY2025 FY2027 target target ON TRACK ON TRACK DELIVERED AVERAGE ORGANIC GROWTH OF 10%, REQUIRE ONL
Slide 25: Summary and Outlook
SUMMARY AND OUTLOOK 25
Slide 26: Summary and Outlook
SUMMARY AND OUTLOOK Excellent results in Ongoing success in FY25 investments Well-positioned to Strong start to FY26 tough markets securing new projects bring additional successfully navigate underscores strength capacity and created global trade and tariff Well placed to Strong revenue of global ca
Slide 27: Q&A
gas fax ger Q&A
Slide 28: Appendices
APPENDICES 28
Slide 29: End-Markets
END-MARKETS ELECTRIC VEHICLES CONSUMER ELECTRICALS WHAT THE WORLD THE VALUE WE BRING WHAT THE WORLD THE VALUE WE BRING DEMANDS DEMANDS Government support Vertically integrated Consumers seek out Global manufacturing OFF-HIGHWAY ELECTRIC solutions reliable, energy efficient footprint to support VEHIC
Slide 30: Medical, Complex Industrial Technology, Off-Highway
MEDICAL COMPLEX INDUSTRIAL OFF-HIGHWAY TECHNOLOGY WHAT THE WORLD THE VALUE WE BRING WHAT THE WORLD THE VALUE WE BRING WHAT THE WORLD THE VALUE WE BRING DEMANDS DEMANDS DEMANDS Support for ageing Highly experienced Demand for cloud Integrated solutions Increased urbanisation Global expertise and popu
Slide 31: Unique Global Footprint Supporting Localisation
UNIQUE GLOBAL FOOTPRINT SUPPORTING LOCALISATION China 2 production sites North America 2,100 people 46% of sales Cable extrusion 7 production sites 2,600 people to NA 38% of sales to R&D centre PCBa capability customers European customers Opportunities Penetration into China EV Opportunities market
Slide 32: Management Team
MANAGEMENT TEAM Volex is led by a group of highly committed and experienced individuals that shape and drive the direction of the organisation Nat Rothschild John Molloy Jon Boaden Executive Chairman Chief Operating Officer Chief Financial Officer • Nat joined Volex in 2015 and has extensive experie
Slide 33: Adjusting Items
ADJUSTING ITEMS $M FY2025 FY2024 Acquisition-related costs 0.4 3.8 Acquisition-related remuneration 1.0 1.6 Adjustment to fair value of contingent consideration 0.4 (1.3) Cyber incident costs 0.1 2.0 Site closure costs 4.0 - Measurement loss on assets held for sale 2.2 - Amortisation of intangibles
Slide 34: Balance Sheet
BALANCE SHEET $m FY2025 FY2024 Goodwill and intangible assets 239.9 253.1 Property, plant and equipment 163.7 130.2 Investments 12.2 8.1 Inventories 197.9 174.3 Trade and other receivables 227.0 215.1 Net assets held for sale 1.4 - Trade and other payables (268.0) (261.4) Pensions and provisions (13
Slide 35: Technical Guidance
TECHNICAL GUIDANCE Cash flow FY2025 FY2026 Income statement FY2025 FY2026 Depreciation (incl. ROU) $28.5m $30m - $35m Net finance costs $22.8m ~$22m ROUA depreciation $9.7m ~$10m Underlying effective tax rate2 22.1% 23% - 24% Working capital intensity1 20.3% ~25% Average no. of shares in issue 185.0
Slide 36: Sustainability
SUSTAINABILITY Certifications A sustainable Scale use of onsite solar power generation, improve water business intensity and maximise recycling rates across our operations A responsible Ensuring all our employees are safe, healthy and engaged business An inclusive culture that values diversity A tru
Slide 37: Product Portfolio
PRODUCT PORTFOLIO Data Centre and Integrated Power Cords, Custom Cable Electric Vehicle High-Speed Manufacturing Cable Extrusion Plugs and Assembly and Charging Solutions Cables Services Connectors Wire Harness EV NACS Plugs Charging Cables and Box Builds Plugs High-Speed Copper Cord Reels Interconn
Slide 38: Follow Us on Social Media
FOLLOW US ON SOCIAL MEDIA Find out more at www.volex.com www.linkedin.com/company/volex/ www.x.com/volex 38