Tessenderlo Group N.v. · EURONEXT:TESB
Tessenderlo — HY26 Earnings Presentation
26 slides from Tessenderlo's earnings presentation, 2026
Slide 1: Half Year 2026 Results
HALF 2 a 5 RESULTS O 6
Slide 2: Key Events First Half 2026
a KEY EVENTS FIRST HALF 2026 wT Tessenderlo Group EVE3Y MOLECULE COUNTS
Slide 3: Joint Venture Tessenderlo Group and Darling Ingredients
Joint Venture Tessenderlo Group and Darling Ingredients • December 2025, signing of definitive agreements with Darling Ingredients Inc. to combine the collagen and gelatin segments of their companies into a new company • This strategic partnership aims to create a top-tier, collagen-based health, we
Slide 4: Akiolis biomass cogeneration facility to reduce carbon footprint
Akiolis biomass cogeneration facility to reduce carbon footprint • In April 2026, Akiolis inaugurated the biomass cogeneration facility at the site in St-Langis-lès-Mortagne (France) • Powered by animal by-products. This innovative industrial installation marks a major step in our decarbonization st
Slide 5: New Board Member
New Board Member • In May 2026, the General Meeting acknowledged the resignation of Mr. Karel Vinck from the Board of Directors and expressed its sincere gratitude for his many years of dedicated service, valuable guidance and contributions to the Group. • The General Meeting also confirmed the co-
Slide 6: Acquisition of fertilizer plant Cinis Fertilizer AB
Acquisition of fertilizer plant Cinis Fertilizer AB • In May 2026, acquisition of a production plant previously owned by Cinis Fertilizer AB • The production plant, located in Sweden, produces sulphate of potassium (SOP) and was built with the aim of producing an environmentally friendly mineral fer
Slide 7: PB Leiner Brazil
PB Leiner Brazil • In June 2026, PB Leiner completed the acquisition of the 40% minority stake in PB Leiner's Brazilian plant (PB Brasil Industria e Comercio de Gelatinas Ltda). • Following this acquisition, the group owns 100% of the subsidiary. 7
Slide 8: Key Events After the Balance Sheet
KEY EVENTS AFTER THE BALANCE SHEET
Slide 9: FMC investment
FMC investment • In March 2026, 790,000 shares of FMC Corporation (NYSE: FMC) were purchased at an average price of 14.67 USD per share for an amount of 10.1 million EUR • In July 2026, the group announced the definitive agreement under which the group will make a strategic minority equity investmen
Slide 10: Intention to close Vilvoorde plant
Intention to close Vilvoorde plant • In July 2026, the group announced its intention to close its PB Leiner production site in Vilvoorde • The information and consultation process with employee representatives in accordance with applicable Belgium legislation was immediately initiated • A formal agr
Slide 11: T-Power 6-month tolling agreement
T-Power 6-month tolling agreement • In July 2026, T-Power entered into a 6-month tolling agreement for the full capacity of the 425 MW power plant in Tessenderlo • Considering its terms and conditions, this short- term tolling agreement is not expected to contribute significantly to the 2H26 Adjuste
Slide 12: HY26 Results
HY26 RESULTS
Slide 13: Operational key figures
Operational key figures % Change excluding fx Million EUR HY26 HY25 % Change as reported effect Revenue 1,493.5 1,487.4 2.6% 0.4% Adjusted EBITDA1 176.8 163.4 11.9% 8.2% Adjusted EBIT2 76.4 59.5 34.4% 28.4% Profit (+) / loss (-) for the period 65.9 -9.0 nm Total comprehensive income 78.1 -55.9 nm Ca
Slide 14: Group revenue per segment
Group revenue per segment HY26 revenue HY25 revenue (% of total) (% of total) 3% 3% 17% Agro 18% Agro 38% Bio-valorization 35% Bio-valorization 1,493.5 Industrial Solutions 1,487.4 Industrial Solutions mio EUR Machines & Technologies mio EUR Machines & Technologies 23% 23% T-Power T-Power 19% 21% ©T
Slide 15: Group Adjusted EBITDA per segment
Group Adjusted EBITDA per segment HY26 Adjusted EBITDA HY25 Adjusted EBITDA (Million EUR) (Million EUR) 29,6 Agro 29,2 Agro Bio-valorization Bio-valorization 176.8 75,0 163.4 67,9 22,3 Industrial Solutions Industrial Solutions mio EUR Machines & Technologies 33,6 mio EUR Machines & Technologies T-Po
Slide 16: Agro segment
Agro segment HY26 HY25 % Change excluding fx effect % Change as reported Million EUR Revenue 574.5 521.8 14.7% 10.1% Adjusted EBITDA 75.0 67.9 17.3% 10.4% Adjusted EBITDA margin 13.0% 13.0% Adjusted EBIT 38.1 28.2 44.5% 35.0% Adjusted EBIT margin 6.6% 5.4% • When excluding the foreign exchange effec
Slide 17: Bio-valorization segment
Bio-valorization segment HY26 HY25 % Change excluding fx effect % Change as reported Million EUR Revenue 279.0 312.2 -9.1% -10.6% Adjusted EBITDA 12.2 4.7 178.5% 161.8% Adjusted EBITDA margin 4.4% 1.5% Adjusted EBIT -5.6 -14.4 64.7% 61.1% Adjusted EBIT margin -2.0% -4.6% • HY26 Bio-valorization reve
Slide 18: Industrial Solutions segment
Industrial Solutions segment HY26 HY25 % Change excluding fx effect % Change as reported Million EUR Revenue 348.5 347.0 1.4% 0.4% Adjusted EBITDA 37.8 28.0 36.1% 34.9% Adjusted EBITDA margin 10.8% 8.1% Adjusted EBIT 18.0 8.4 117.5% 114.8% Adjusted EBIT margin 5.2% 2.4% • HY26 Industrial Solutions r
Slide 19: Machines & Technologies segment
Machines & Technologies segment HY26 HY25 % Change excluding fx effect % Change as reported Million EUR Revenue 252.9 267.4 -5.0% -5.4% Adjusted EBITDA 22.3 33.6 -33.0% -33.6% Adjusted EBITDA margin 8.8% 12.6% Adjusted EBIT 13.9 25.8 -45.7% -46.2% Adjusted EBIT margin 5.5% 9.6% • The HY26 revenue of
Slide 20: T-Power segment
T-Power segment HY26 HY25 % Change excluding fx effect % Change as reported Million EUR Revenue 38.6 39.1 -1.1% -1.1% Adjusted EBITDA 29.6 29.2 1.4% 1.4% Adjusted EBITDA margin 76.6% 74.7% Adjusted EBIT 12.1 11.6 4.3% 4.3% Adjusted EBIT margin 31.3% 29.7% • The HY26 revenue of T-Power remained stabl
Slide 21: HY26 Adjusted EBIT to profit details (Million EUR)
HY26 Adjusted EBIT to profit details (Million EUR) 76,4 -15.3 65,9 61,1 4.9 -6.9 6,8 Adjusted EBIT HY26 EBIT Adjusting items EBIT Finance (costs) Income Tax Expense Share of result Result HY26 / income of investments EBIT adjusting items (-15.3 million EUR) include: Net finance result amounts to +4.
Slide 22: 2025 - HY26 Net financial debt reconciliation (Million EUR)
2025 - HY26 Net financial debt reconciliation (Million EUR) Net financial debt 31/12/2025 -41,3 Adjusted EBITDA 176.8 Proceeds from the sale of shares to a non-controlling interest 4,5 Net change in emission allowances recognized within intangible assets 4,3 Dividends received 3,5 Proceeds from the
Slide 23: Outlook
Outlook • The following statements are forward-looking, and actual results may differ materially. • The group anticipates a continued high level of economic and geopolitical uncertainty in the second half of 2026. Based on currently available information, the 2026 full year Adjusted EBITDA is expect
Slide 24: Financial calendar
Financial calendar 2026 Results March 25, 2027 ©Tessenderlo Group Conference call - HY26 results
Slide 25: Q&A
Slide 26: Thank you
iderlo Group COUNTS