Arteche Lantegi Elkartea Sa · BME:ART
Arteche Lantegi Elkartea Sa — Arteche — FY2024 Earnings Presentation
37 slides from Arteche Lantegi Elkartea Sa's earnings presentation, 2025
Slide 1: Arteche Corporate Presentation 2025
Arteche Corporate Presentation 2025 0
Slide 2: Disclaimer
Disclaimer The information contained in this presentation of results has been prepared by Arteche Lantegi Elkartea, S.A. (hereinafter the Company or Arteche Group) and includes financial information drawn from the annual accounts of the Company and its Group as of fiscal years 2017 to 2023 audited b
Slide 3: Snapshot of Arteche
Snapshot of Arteche Revenue growth €447m Key financial figures (FY 2024) We are a global designer, +12% CAGR ‘17-’24 manufacturer, integrator and provider of electrical equipment… Cash flow generation 78% Operating Activity FCF/EBITDA … and solutions for the measuring, Attractive operating profitabi
Slide 4: Key milestones achieved since our incorporation in 1946
Key milestones achieved since our incorporation in 1946 Through our +75 years of activity we have achieved a unique expertise and positioning within the industry 3
Slide 5: Value-add product portfolio
Value-add product portfolio Measurement & Monitoring Transmission & Distribution Network Reliability Systems Grid Automation Solutions that guarantee the Services that strengthen Expertise in products focused digitalization and automation of electrical infrastructures on energy measuring systems 202
Slide 6: Arteche's presence across the value chain
Arteche’s presence across the value chain 5
Slide 7: Manufacturing capabilities
Manufacturing capabilities Key figures Production and distribution footprint Headquarters Countries with commercial 175 distribution capabilities Sales footprint Physical presence Factories in Europe, (factories and/or 13 America and Asia… delegations) …including dedicated R&D 7 centres Commercial d
Slide 8: Historical financials: solid business model
Historical financials: solid business model EBITDA Net debt Revenue (€ million) (€ million and % o/revenue) (€ million and times EBITDA) 7
Slide 9: Key investment highlights
Key investment highlights Positive trends within the renewables and transmission & distribution markets are Positive 1 generating new opportunities perspectives Leading independent group backed by key pillars that strengthen our 2 leadership position Differentiated 3 Long-term relationship with sect
Slide 10: Positive trends within renewables and transmission & distribution markets
Positive trends within the renewables and transmission & distribution 1 markets are generating new opportunities 9
Slide 11: Arteche's addressable market and leadership positioning
2 Arteche’s addressable market and leadership positioning Main markets Global market size Leadership position Key players High voltage #2 instrument transformers #2 Measurement & Monitoring > €1.5bn Systems Medium voltage #1 instrument transformers #2 Relays #1 > Electricity sector > Railway sector
Slide 12: Competitive landscape
2 Competitive landscape Arteche’s unique business model has the competitive advantage of being hybrid between Tier I and Tier II players, bringing the flexibility of small players while having international footprint and offering a wide range of product portfolio 11
Slide 13: Customer retention and customer acquisition process
2 Customer retention and customer acquisition process Direct relationship with the end user Indirect relationship with the end user Each company has its own standards and criteria for Technical approval / technical approvals Homologation Framework agreement Specifications and internal analysis Produ
Slide 14: Long-term relationship with sector-leading clients
3 Long-term relationship with sector-leading clients Utilities >1,500 globally(1) 1 2024 Revenues by 2024 Revenues client type concentration Others, 19% Client A, 11% Client B, 7% OEM Diversified Utilities Client C, 2% 10% customer base 27% Client D, 2% Client E, 2% Distributors Others 25% EPC 76% T
Slide 15: Industry reference company backed by our outstanding innovation capacity
Industry reference company backed by our outstanding innovation 4 capacity Annual investment in R&D(1) (€m) R&D team with 200 people 12.1 9.7 10.0 11.0 Dedicated 8.8 9.2 9.3 5.1 5.6 team sourced +199,000 hours in 2023 in R&D 5.7 4.4 4.5 4.7 4.9 with recurrent 4.7 4.6 5.1 5.9 6.5 4.0 4.4 investment c
Slide 16: Scalable business with a clear strategic roadmap 2024-26
5 Scalable business with a clear strategic roadmap 2024 - 2026 Inorganic Strategy New solutions Geographic expansion Such as, Digitalization, Bet on renewables and Expand into the USA and Asia; and ESG and Energy storage solutions consolidate presence in Europe New businesses Solid New business segm
Slide 17: Accelerating profitability and cash generation
5 Strategic plan 2024 – 2026: committed to ambitious targets Accelerating profitability and cash generation 16
Slide 18: Best-practices in Corporate Governance
6 Best-practices in Corporate Governance Current shareholding structure The Board of Directors Free-float Mr. Alexander Artetxe 15.4% Chairman & CEO Onchena S.L. 5.6% Mr. Lander Arteche Mr. José María Abril Arteche family Executive (rep. Ziskua Other external 52.4% Ber S.L.) Basque Private Equity Fu
Slide 19: Environmental and Social responsibility plans at the centre of core activities
Environmental and Social responsibility plans always at the centre of 7 Arteche’s core activities Sustainability Strategic Goals 2030 10 strategic objectives 1 Net-zero carbon Products designed with ecological insulation. 5 strategic lines 100% use of Renewable Digitalization of all processes. 2 Ele
Slide 20: Closing remarks
Closing remarks Arteche presents strong investment fundamentals 1 2 3 4 5 Industry leader Unique Top positioned on serving niche Smart innovation Strong growth investment structurally products to a wide capabilities and perspective opportunity with growing markets client base in a top notch support
Slide 21: FY 2024 Resultados
Slide 22: < O za Lu - [a4 Lu > fa) = arteche La informacion que
< O za Lu - [a4 Lu > fa) = arteche La informacion que contiene esta presentacion de resultados ha sido preparada por Arteche Lantegi Elkartea, S.A. (la Sociedad, y su grupo de empresas o Grupo Arteche) e incluye informacion financiera extraida de las cuentas anuales de la Sociedad y su Grupo del eje
Slide 23: Principales hitos 2024
arteche Principales hitos 2024 La contratacién crece durante el afio 2024 +12,3% hasta los €532,4 millones, por encima del crecimiento de mercado. La facturacién se incrementa un +11,5% hasta los €447,4m y crece a doble digito durante el 2024. El margen directo mejora en +340 pbs vs el afo anterior
Slide 24: Cumplimiento del guidance FY2024
Cumplimiento del guidance FY2024 Guidance Reportado FY 2024 FY 2024 Cumplimiento Facturacion 440,0 - 460,0 447,4 @ (millones €) EBITDA (millones €) 45,8 - 50,6 51,6 g Margen EBITDA —19,4% - 11,0% 11,5% Y) (% sobre ingresos)
Slide 25: Principales magnitudes financieras
Principales magnitudes financieras Contrataci6n Facturacién Margen EBITDA Directo €532,4M €447,4M €163,4M €51,6M Beneficio Neto €18,9M arteche DFN / EBITDA 0,5x +12,3% +11,5% +22,3% +26,8% a/a a/a a/a a/a (4+14,2% a moneda (+24,1% a moneda (+25,8% a moneda constante@) constante) constante) (1) Marge
Slide 26: Crecimiento sostenido a doble dígito
Crecimiento sostenido a doble digito arteche Contrataci6n por geografia (€M, %) Facturacion por geografia (€M,%) +12,3% 532,4 +11,5% 447,4 401,3 474,1 FY 2023 FY 2024 FY 2023 FY 2024 mMEMEA =NAM &LATAM ®APAC mMEMEA =NAM &LATAM ®APAC Book - to - Bill: 1,19x (D Ventas por destino: EMEA (Europa, Orient
Slide 27: Crecimiento global
Crecimiento global lineas de negocio Facturacion por linea de negocio, (€M, %) +11,5% 447.4 401,3 FY 2023 FY 2024 ™Automatizacion de redes de Transmision y Distribucion mFiabilidad de la red ™Medida y Monitorizacién impulsado por todas las arteche Medida y Monitorizacién - Alcanzando el #1/2 en AT y
Slide 28: Margen Directo FY 2024
Margen Directo FY 2024 Mejora solida y continuada Evolucién por semestres del Margen Directo! (% de facturacién a precio de venta)? 35,0% 32,0% 32,1% 30,5% 28,5% H122 H222 H123 H223 H124 (1) Margen directo = Ingresos a precio de venta - aprovisionamientos - mano de obra directa - gastos operativos d
Slide 29: EBITDA FY 2024
EBITDA FY 2024 Acelerando en rentabilidad EBITDA evolucién por semestres (€ millones, % facturacién) 12,1% 11.0% 9.3% 9.0% 8.a% 27,0} 33 4,6 IAC) 17,4 13,1 H1 22 H2 22 H1 23 H2 23 H124 H2 24 © arteche Incremento del EBITDA en los dos semestres del afho impulsado por un alto volumen de ventas, precio
Slide 30: 20,0 0,35 0,30 15,0 0,25 0,20 10,0 0,15 5,0 0,10 0,05 0,0 0,00
20,0 0,35 0,30 15,0 0,25 0,20 10,0 0,15 5,0 0,10 0,05 0,0 0,00
Slide 31: Deuda financiera neta a 30/12/24
Deuda financiera neta a 30/12/24 Musculo financiero para afrontar nuevos proyectos Deuda financiera neta (DFN) / EBITDA Evoluci6n (€ millones, veces EBITDA) Recursos disponibles por fuente de arteche 1.0x ‘ yon financiacién FY 2024 = MARF r | O.5x Box | x 2 = Deuda Bancaria = 78 Ea 280 - prestamo ~-
Slide 32: Avanzando en nuestro compromiso ESG
Avanzando en nuestro compromiso ESG indicsdor 13 ¢ Total residuos Residuos reutilizados o Peni ceuiillzzestes< > reciclados)/ 58% 69% 100% reciclados Total residuos P+NP E generados (%) Reducir nuestra huella de Reduccién de emisiones ene 1#2 vs2021 39% 26% >50% Net Zero Carbon Consumo de electricid
Slide 33: Primer año de nuestro plan 24-26 con excelentes resultados
Primer afio de nuestro plan 24- 26 con excelentes resultados y por delante de los objetivos marcados Oe @O® Crecimiento solido en contratacion (+12,3% a/a) y en facturacion (#11,5% a/a) impulsado por una fuerte demanda y disciplina comercial. Crecimiento sostenido de la rentabilidad, una estricta ge
Slide 34: Moving together
Moving together Q&A ARTECHE LANTEGI ELKARTEA, S.A. Investor Relations Office Tel: +34 620 328 643 investors@arteche.com www.arteche.com
Slide 35: Anexo | Medidas Alternativas de Rendimiento (MAR)
Anexo | Medidas Alternativas de Rendimiento (MAR) arteche MAR Det i6n FY 2024 30 Junio 2024 FY 2023 Ingresos a Importe neto de la cifra de negocios - variacién de existencias a precio de = = = precio de venta €M venta €459.9m =447.3 + 12.5 | €235.2m = 224.9 + 10.3 |€416.6m = 401.3 + 15.4) Costes dir
Slide 36: Anexo | Principales Cifras Financieras
Anexo | Principales Cifras Financieras Principales Cifras Financieras @ arteche €M 31.12.2024 31.12.2023 % variacion Facturaci6n 447,4 401,3 +11,5% Margen directo 163,4 133,6 +22,3% Margen directo (% sobre ingresos a precio de venta*) 35,5% 321% +340pbs EBITDA 51,6 40,7 +26,8% Margen EBITDA (% sobre
Slide 37: Anexo | Balance de situación consolidado
Anexo | Balance de situacién . arteche consolidado Balance de situaci6én consolidado M€ 31.12.2024 31.12.2023 Activo no corriente 14,4 106,7 Activo corriente 257,7 221,1 Existencias 77,9 82,9 Deudores comerciales y otras cuentas a cobrar 86,6 72,6 Inversiones financieras a corto plazo 3,7 4,1 Efecti