Kendrion N.v. · EURONEXT:KENDR
Kendrion — Shareholder Meeting (April 2026)
65 slides from Kendrion's shareholder meeting presentation, Apr 13, 2026
Slide 1: Transformation complete: Industrial Motion Control Technology
AMSTERDAM, 13 APRIL 2026 Transformation complete: Industrial Motion Control Technology Kendrion N.V. Annual General Meeting of Shareholders [Confidential]
Slide 2: Agenda item 1: Opening and notifications
General meeting of shareholders Agenda item 1 Opening and notifications [Confidential] 2
Slide 3: Agenda item 2.a: Reports of the Executive and Supervisory Board
General meeting of shareholders Agenda item 2.a Report by the Executive Board and report of the Supervisory Board for the financial year 2025 (for discussion) [Confidential] 3
Slide 4: Joep van Beurden - CEO, Jeroen Hemmen - CFO
Joep van Beurden - CEO Jeroen Hemmen - CFO [Confidential]
Slide 5: Agenda
Agenda 01 Kendrion Group 02 Strategic position 03 Financial review 04 Outlook 05 Q&A [Confidential] 5
Slide 6: Cautionary note regarding forward looking statements
General meeting of shareholders CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS Certain statements contained in this presentation constitute forward-looking statements. These statements may include, without limitation, statements concerning future results of operations, the Company's share of n
Slide 7: [Confidential]
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Slide 8: Kendrion Group
Kendrion Group 2025 Revenue Segmented by Customer Location Europe 1,167 The Americas Asia1 48 54 €208m 84% €19m €19m 8% 8% Kendrion business location # Number of FTEs [Confidential] 8
Slide 9: Strategic position
3. Strategic position [Confidential]
Slide 10: Divesting automotive: strategic rationale
Divesting automotive: strategic rationale MORE FOCUS, BETTER PROFITABILITY − Automotive requires high investment but delivers lower margins. − Industrial investments offer stronger growth and profitability. − The China divestment completes the shift away from Automotive. − The cooperation with Knorr
Slide 11: A leaner, more profitable Group
A leaner, more profitable Group STRATEGIC JOURNEY 2015 2025 (% of revenue) STRATEGIC JOURNEY Knorr-Bremse (% of revenue) Partnership 12% 17% Industrial Brakes Industrial Automotive 38% 22% INTORQ (2020) Solero (2024 / 2025) Actuators & Controls 3T (2021) China MBO (2025) Automotive 66% Knorr-Bremse
Slide 12: Strategic Phase-out of Remaining Automotive Activities
Strategic Phase-out of Remaining Automotive Activities PARTNERSHIP KNORR-BREMSE (KB) − Cooperation secures factory continuity as Kendrion volumes decline − Cash flow contribution of partnership of around EUR 7 million − Employees to be transferred: around 190 FTE Kendrion ownership KB ownership − Co
Slide 13: Kendrion today
Kendrion today WE KEEP ADVANCED MACHINES MOVING SAFELY, PRECISELY, AND RELIABLY. − Today, Kendrion enables industrial machines and systems to move with safety, precision, and reliability. − With our advanced motion technology and control solutions, we ensure our customers’ systems perform exactly as
Slide 14: Turning digital innovation into real world motion
Turning digital innovation into real world motion A SIGNIFICANT OPPORTUNITY FOR KENDRION − Today’s digital innovation, transforms industrial machines. − We invest in products that power the next generation of machines: robotics and automation, safety systems, renewable energy, and med-tech. − Precis
Slide 15: Investment criteria for new projects
Investment criteria for new projects DRIVING PROFITABLE GROWTH − New business investment decisions are made per project based on a set of financial criteria: o Healthy growth potential of at least 10% per year, and typically more. o Steady-state, fully costed EBITDA margin >20%. − Clear differentiat
Slide 16: Summary: The right to win
Summary THE RIGHT TO WIN Focussed on high growth, high margin industrial end-markets benefitting from secular trends Unique expertise and differentiated technologies enabling safe, precise and reliable motion High barriers to entry: IP, regulatory approvals, deep application know-how and experienced
Slide 17: Financial review
3. Financial review FY 2025 [Confidential]
Slide 18: 2024 – 2028 ESG Program
2024 – 2028 ESG PROGRAM ACHIEVEMENTS IN 2025 Targets Targets Targets • Progressing emission • Implement gender diversity targets at • Integratation of ESG metrics into reduction in 2025 Business Group level for indirect staff sourcing process Environmental • Increase renewable Social • Continue prog
Slide 19: Business review: Q4 and full year 2025 results
Business review Q4 AND FULL YEAR 2025 RESULTS Normalized (in EUR million) FY 2025 FY 2024 delta FY 2025 highlights Revenue 245,5 247,5 -1% − Revenue decrease of 1% due to weakness in EBITDA 38,1 33,2 15% EBITA 25,3 20,4 24% industrial markets in the first half year. Net profit before amortization fr
Slide 20: Business review: Development by segment
Business review DEVELOPMENT BY SEGMENT IAC -1% Industrial − Revenue down 2% for the full year primarily due to IB -2% MOB + 4% weak manufacturing activity in Germany during the first half year. − Performance improved in H2 with Q4 delivering 7% growth in Q4 as markets began to recover. − EBITDA marg
Slide 21: Business review: Cash flow and financial position
Business review CASH FLOW AND FINANCIAL POSITION Highlights − Strong normalized free cash flow of EUR 25.6 million, with cash conversion of 67% of continued EBITDA. − Cash flow supported by a net working capital inflow from working capital and capital investments EUR 6.0 million below depreciation.
Slide 22: Business review: Dividend proposal and cash distribution
Business review DIVIDEND PROPOSAL AND CASH DISTRIBUTION Highlights − Dividend policy provides for a payout of at least 50% of normalized net profit before amortization. − 2025 payout comprised a EUR 0.45 per share optional dividend over FY 2024 profit and a EUR 1.00 per share special dividend, from
Slide 23: Outlook
4. Outlook [Confidential]
Slide 24: Outlook 2026
Outlook 2026 − European economy is starting to improve. − Kendrion expects to benefit from long-term growth trends, in Robotics, Automation, Safety systems, Med- Tech and Renewable Energy with AI as an accelerator. − We anticipate better economic conditions, a stronger pipeline, and rising customer
Slide 25: 2027 Financial targets - unchanged
2027 Financial targets - unchanged Expectation: 5-8% annual Revenue growth EBITDA margin 15%-18% from 2025 ROI* 23%-27% from 2027 At least 50% of Dividend Normalized Net Profit *EBITA / invested capital, excluding goodwill and intangibles arising from acquisitions [Confidential]
Slide 26: [Confidential]
We ape KENDRION KENDRION
Slide 27: [Confidential]
[Confidential]
Slide 28: [Confidential]
[Confidential]
Slide 29: Questions & answers
Questions & answers [Confidential]
Slide 30: Agenda item 2.b: Corporate governance
General meeting of shareholders Agenda item 2.b Main items corporate governance structure and compliance with the corporate governance code in 2025 (for discussion) − Corporate governance report – page 38-42 of the Annual Report 2025 [Confidential] 30
Slide 31: Questions & answers
Questions & answers [Confidential]
Slide 32: Agenda item 3.a: Adoption of 2025 financial statements
General meeting of shareholders Agenda item 3.a Adoption of the 2025 financial statements (for resolution) [Confidential] 32
Slide 33: Annual general meeting of Kendrion N.V. April 2026
Annual general meeting of Kendrion N.V. 13 April 2026
Slide 34: Contents
Contents 1. Engagement Forvis Mazars 2. Audit approach 3. Auditor’s report financial statements 34
Slide 35: Engagement Forvis Mazars
1. Engagement Forvis Mazars Audit • Audit of the financial statements for the year ended 31 December 2025 of Kendrion N.V. • We have conducted our audit in accordance with Dutch Standards on Auditing (NV COS), the relevant ethical and professional standards and the terms of our engagement which have
Slide 36: Audit approach
2. Audit approach • Design and implementation of the relevant business processes related to financial reporting for Significant Significant risks: Class Of Transactions • Management override of controls (presumed 1. Audit • General understanding of IT General Controls fraud risk) procedures • Revenu
Slide 37: Auditor's report financial statements
3. Auditor’s report financial statements Our opinion Audit response related to fraud risks • For 2025, we have expressed an unqualified opinion on the financial statements of We included a description of the following identified fraud risks and Kendrion N.V. our specific audit response in the audit
Slide 38: Contact
Contact Forvis Mazars Attn. Marc Vazel RA Watermanweg 80 3067 CG Rotterdam T: +31 (0)88 277 13 92 / M: +31 (0)6 2143 1588 Forvis Mazars is a leading global professional services network. The network operates under a single brand with just two members: Forvis Mazars, LLP in the United States and Forv
Slide 39: Questions & answers
Questions & answers [Confidential]
Slide 40: Agenda item 3.b: Dividend over financial year 2025
General meeting of shareholders Agenda item 3.b Dividend over financial year 2025 (for resolution) - Proposal: EUR 0.70 per share (61% of normalized net profit before amortization) - Dividend in cash - Ex-dividend date: 15 April 2026 - Record date: 16 April 2026 [Confidential] 40
Slide 41: Questions & answers
Questions & answers [Confidential]
Slide 42: Agenda item 4.a: Discharge of Executive Board
General meeting of shareholders Agenda item 4.a Discharge of the members of the Executive Board (for resolution) [Confidential] 42
Slide 43: Questions & answers
Questions & answers [Confidential]
Slide 44: Agenda item 4.b: Discharge of Supervisory Board
General meeting of shareholders Agenda item 4.b Discharge of the members of the Supervisory Board (for resolution) [Confidential] 44
Slide 45: Questions & answers
Questions & answers [Confidential]
Slide 46: Remuneration report 2025 (for advice)
General meeting of shareholders Agenda item 5 Remuneration report 2025 (for advice) - Advisory vote by the shareholders − Remuneration report – page 109-124 of the Annual Report 2025 [Confidential] 46
Slide 47: Executive Board: 2025 annual base salary
General meeting of shareholders Executive Board 2025 Annual Base Salary CEO EUR 601,800 CFO EUR 357,000 [Confidential] 47
Slide 48: Executive Board: 2025 short-term incentive (financial criteria)
General meeting of shareholders Executive Board Pay-out 2025 short-term incentive (financial performance criteria) Target amount % of target Pay-out as % of target Pay-out amount for amount financial CEO EUR 361,080 (60% of EUR 324,972 2025 base salary) 60% 90% CFO EUR 160,650 (45% of EUR 145,120.50
Slide 49: Executive Board: 2025 short-term incentive (non-financial criteria)
General meeting of shareholders Executive Board Pay-out 2025 short-term incentive (non-financial performance criteria) Target amount % of target Pay-out as % of target Pay-out amount for amount financial CEO EUR 361,080 (60% of EUR 144,432 2025 base salary) 40% 40% CFO EUR 160,650 (45% of EUR 64,260
Slide 50: Executive Board: Total pay-out 2025 short-term incentive
General meeting of shareholders Executive Board Total pay-out 2025 short-term incentive Target amount Pay-out as % of target Pay-out amount CEO EUR 361,080 (60% of 2025 469,404 base salary) 130% CFO EUR 160,650 (45% of 2025 EUR 209,380.50 base salary) [Confidential] 50
Slide 51: Executive Board: Performance 2023 long-term incentive
General meeting of shareholders Executive Board Performance 2023 long-term incentive (performance period 2023 – 2025) 2023 Target Average share # Conditional # Vested shares amount price Q4 2022 performance shares CEO EUR 332,000 22,030 6,609 EUR 15.07 CFO EUR 171,250 11,363 3,409 [Confidential] 51
Slide 52: Executive Board: 2025 long-term incentive
General meeting of shareholders Executive Board 2025 long-term incentive Target amount Average share price Q4 # Conditional 2024 performance shares CEO EUR 361,080 33,218 EUR 10.87 CFO EUR 178,500 16,421 [Confidential] 52
Slide 53: Supervisory Board remuneration
General meeting of shareholders Supervisory Board Annual base fee 2025 Remuneration Chairman EUR 59,000 Mr. Van Hout (Chairman) EUR 65,000 Member EUR 41,800 Ms. Slijkhuis (Chair Audit committee) EUR 49,000 Committee fee Chair Audit committee / HR EUR 7,200 Ms. Baijens (Chair HR committee) EUR 49,000
Slide 54: Questions & answers
Questions & answers [Confidential]
Slide 55: Agenda item 6.a: Authorization to issue shares
General meeting of shareholders Agenda item 6.a Authorization to issue shares (for resolution) - Valid for a period of 18 months - Approval by the Supervisory Board - Maximum authorization of 10% of the company's issued share capital [Confidential] 55
Slide 56: Agenda item 6.b: Authorization to restrict or exclude pre-emptive rights
General meeting of shareholders Agenda item 6.b Authorization to restrict or exclude pre-emptive rights (for resolution) - Valid for a period of 18 months - Approval by the Supervisory Board [Confidential] 56
Slide 57: Questions & answers
Questions & answers [Confidential]
Slide 58: Authorization to repurchase Kendrion N.V. shares
General meeting of shareholders Agenda item 7 Authorization to repurchase Kendrion N.V. shares (for resolution) - Valid for a period of 18 months - Approval by the Supervisory Board - Maximum authorization of 10% of the company's issued share capital [Confidential] 58
Slide 59: Questions & answers
Questions & answers [Confidential]
Slide 60: Cancellation of Kendrion N.V. shares
General meeting of shareholders Agenda item 8 Cancellation of Kendrion N.V. shares (for resolution) - Shares held or acquired by the company - Number of shares that will be cancelled o to be determined by Executive Board o with the approval of the Supervisory Board o shall not exceed 10% of the issu
Slide 61: Questions & answers
Questions & answers [Confidential]
Slide 62: Any other business
General meeting of shareholders Agenda item 9 Any other business [Confidential] 62
Slide 63: Questions & answers
Questions & answers [Confidential]
Slide 64: Closing
General meeting of shareholders Agenda item 10 Closing [Confidential] 64
Slide 65: Thank you!
PRECISION. SAFETY. MOTION. Please feel free to contact us at any time. Thank you! kendrion.com [Confidential]