Slide 1: First-Half 2023 Results
F IRST-H ALF 2023 R ESULTS July 28, 2023
Slide 2: A remarkable first-half
A remarkable first-half MID-TERM CAPITAL SALES CONTRACTS OUTLOOK INCREASE Record Major contracts signed 2027 roadmap unveiled €100m capital increase half-year sales with to support growth Wolfspeed and ACC 2 H1 2023 Results - July 28, 2023
Slide 3: Dynamic growth in all markets, particularly SiC semiconductors and electric vehicles
Dynamic growth in all markets, particularly SiC semiconductors and electric vehicles Chemicals ++ 9% Energy 21% Solar + Wind + Process €608m Industries 33% +18.3%* ++ 24% Electronics SiC semiconductors +++ 13% Si semiconductors ++ Transportation Rail ++ Organic growth H1 2023 vs H1 2022 Aeronautics
Slide 4: Growth market potential confirmed
Growth market potential confirmed Sales growth Organic growth H1 2023 vs H1 2022 ELECTRIC +++ VEHICLES €10m Continued significant quotations ++ Positioned on the most important stages of SI SEMICONDUCTOR €33m MANUFACTURING the manufacturing process (ALD, Ion implant) SIC SEMICONDUCTOR €43m +++ Boost
Slide 5: First-Half 2023 Results
FIRST-HALF 2023 RESULTS THOMAS BAUMGARTNER 5 H1 2023 Results - July 28, 2023
Slide 6: Dynamic sales growth in the segments thanks to price and volume
D yn a m i c s a l e s g r o w t h i n t h e 2 s e g m e n t s t h a n k s to price and volume Price/volume change Change by segment +17% +19% Organic growth Sales in € million 6 H1 2023 Results - July 28, 2023
Slide 7: Strong growth in profitability
Strong growth in profitability in € million H1 2022 H1 2023 EBITDA before non-recurring items 86.9 100.5 +16% • Stable Depreciation & Amortization: High level of Capex in the first half to be Recurring EBITDA margin 16.6% 16.5% commissioned in the coming half years Depreciation & Amortization (31.9)
Slide 8: Strong pricing power to pass on inflation
Strong pricing power to pass on inflation Basis point H1 2022 operating margin before non-recurring items 10.5% Volume/mix effect +2.6 Price effect +4.0 High-tech customized products with limited cost vs total cost Raw material/energy inflation -3.5 0 Productivity gains +1.2 Operational Excellence,
Slide 9: Robust operating margin in both segments
Robust operating margin in both segments Operating income before non-recurring items (in €m) Current operating margin in % of sales Advanced Materials segment Electrical Power segment 50.4 15.1% 44.1 15.1% 29.4 10.7% 21.2 9.1% • Positive volume/mix effect • Positive volume/mix effect • Price increas
Slide 10: Net income up by a sharp 25%
Net income up by a sharp 25% in € million H1 2022 H1 2023 Operating income before non recurring 55.0 68.8 items • Higher net financial expense • Average 4% rise in EUR and Non recurring income and expenses (0.7) (0.1) USD interest rates in H1 • 70% of gross debt at fixed rates Net financial expense
Slide 11: Improvement in operating Cash-flow
Improvement in operating Cash-flow in € million H1 2022 H1 2023 Operating cash flow before change in WCR 82.0 99.2 • WCR ratio: 22,9% (vs 24,8% in June 2022) Change in WCR (70.6) (44.6) • Increased income tax paid : • Accelerated tax depreciation in the o/w change in inventories (55.2) (40.4) USA in
Slide 12: Capex aligned with 2027 roadmap
Capex aligned with with 2027 roadmap ACC dedicated workshop in St Bonnet de Mure, France 23% Maintenance 55% €62m 2027 Capex plan Columbia « New Thermal Treatment » project in Amiens, France 17% 5% Official ribbon cutting Other ceremony at the growth Columbia plant (United States) Safety and Environ
Slide 13: Capital increase improves leverage ratio
Capital increase improves leverage ratio Net debt in €m Leverage : 0.98x (1.36x end of 2022) Does not include lease liabilities €54m (vs. €55m at Dec. 31, 2022) and pension obligations €40m (vs. €39m at Dec. 31, 2022) and lease payment 13 H1 2023 Results - July 28, 2023
Slide 14: No significant refinancing before 2026
No significant refinancing before 2026 UNDRAWN COMMITTED 4 CREDIT LINES Drawn credit lines (€m) (IN €M) AT JUNE 30, 2023 115 ~€320m 55 ~€50m Available cash 30 4 4 20 15 Average maturity 4 4 10 ~ 4.5 years * 2023 2024 2025 2026 2027 2028 2029 2030 2031 * Calculated based on the use of committed credi
Slide 15: Outlook
OUTLOOK LUC THEMELIN 15 H1 2023 Results - July 28, 2023
Slide 16: Targets raised
2 0 2 3 Ta r g e t s r a i s e d SALES OPERATING MARGIN BEFORE NON CAPEX RECURRING ITEMS Organic growth of between Between Between INITIAL 5% et 10% 10.5% and 11% €150m and €200m of sales Organic growth of between Between Between €150m and €200m NEW 11% and 11.2% 10% and 12% of sales 16 H1 2023 Resu
Slide 17: 2027 roadmap confirmed
2027 roadmap confirmed Sales (€m) By 2027 ~€1,700m OPERATING MARGIN BEFORE approx. NON-RECURRING ITEMS CAGR 2022-2027 45% 12% +-50pts Renewable energies €1,115m Si semiconductors > 20% SiC semiconductors EV 27% RECURRING EBITDA MARGIN 19% +-50pts CAGR +3% ROCE 13% +-50pts 2022 2027 17 H1 2023 Result