Somero Enterprises, Inc. · LSE:SOM
Somero Enterprises — H1 2026 Earnings Presentation
43 slides from Somero Enterprises's earnings presentation, 2026
Slide 1: 2026 Interim Results Presentation
2026 INTERIM RESULTS PRESENTATION 1986 - 2026
Slide 2: Agenda
AGENDA 01 Welcome & Opening Remarks Tim Averkamp Chief Executive Officer & Director 02 Governance Update 30+ yrs. in international industrial manufacturing and construction machinery 03 H1 2026 Results BS Mechanical Engineering | MBA 04 Strategic Plan Update Vincenzo (Enzo) LiCausi Chief Financial O
Slide 3: Opening Remarks: Forty Years of Defining the Industry
OPENING REMARKS Forty Years of Defining the Industry And executing on it today 1986 2026 3
Slide 4: About Us
ABOUT US FASTER. FLATTER. FEWER.® 40 yrs 90+ 20+ 160+ Laser Screed Pioneer Countries Served Products in Range Employees Worldwide Chesterfield, UK & Kampenhout, BE Boomed Screeds Sales, Aftermarket Parts & Service and Training Large-Format Industrial Floors Delhi, India Atlantic Mine, MI Sales, Afte
Slide 5: Key Messages
KEY MESSAGES Market stabilization and strong strategy execution drove growth 01 • Revenue up 22%, across every region and most product lines • Operating leverage lifted Adjusted EBITDA • Strong cash generation with strong net cash Fortify, Innovate, Amplify is delivering measurable results 02 • New
Slide 6: Governance Update
GOVERNANCE UPDATE A COMPLETE PROCESS, SHAPED BY SHAREHOLDERS JUNE 2026 JULY - AUGUST 2026 AUGUST 2026 IN PROCESS NEXT Review Launched Feedback Gathered Changes Agreed Board Refresh Special Meeting Governance Review Shareholder Consultation 1) Majority Voting New Non-Executive Director(s) Certificate
Slide 7: Board Evolution
GOVERNANCE BOARD EVOLUTION Announced 28 August 2026: how the composition of the Board changes BOARD TODAY FOLLOWING THE TRANSITION THE RESULT NON-EXECUTIVE DIRECTORS NON-EXECUTIVE DIRECTORS Robert Scheuer Chairman Robert Scheuer Chairman Greater proportion of Non-Executives Thomas Anderson Non-Execu
Slide 8: H1 2026 Highlights
H1 2026 HIGHLIGHTS Growth returned across the business 01 Broad-based across all territories and most product lines, with new US$ 48.7m and next generation products contributing meaningfully revenue, up 22% Operating leverage converted growth into profit and cash 02 Adjusted EBITDA up 59% to US$ 10.
Slide 9: Market Update
MARKET UPDATE Market Conditions Stabilizing • Delayed projects beginning to restart • Customer activity and backlogs remain healthy, albeit uncertainty has not dissipated • Growth concentrated around AI-led data centers (up 22% year-over-year) ~7%-10% of private non-residential construction • Intere
Slide 10: Financial Highlights
FINANCIAL HIGHLIGHTS US$ MILLIONS H1 H1 Commentary (EXCEPT PER SHARE DATA) 2026 2025 REVENUE GROWTH Revenue 48.7 39.8 Adjusted EBITDA (1,2) 10.1 6.4 +22% Revenue of US$ 48.7m, with growth across all territories and most product lines Adjusted EBITDA margin (1,2) 20.7% 15.9% Profit before tax 9.1 4.9
Slide 11: Regional Performance: North America
Fort Myers, Florida, USA REGIONAL PERFORMANCE NORTH AMERICA REGIONAL REVENUE US$ 38.9m H1 2026 revenue, up from US$ 31.8m in H1 2025 REVENUE GROWTH +22% Growth across most product lines, led by Boomed and Ride-on screeds Customers report steady activity and robust backlogs, with improvement in proje
Slide 12: Regional Performance: Europe
Chesterfield, United Kingdom REGIONAL PERFORMANCE EUROPE REGIONAL REVENUE US$ 4.9m H1 2026 revenue, up from US$ 3.5m in H1 2025 REVENUE GROWTH +41% Increased activity across the region drove the improvement Kampenhout, Belgium Europe remains a key target international market offering significant fut
Slide 13: Regional Performance: Australia
REGIONAL PERFORMANCE AUSTRALIA REGIONAL REVENUE US$ 2.4m H1 2026 revenue, up from US$ 2.1m in H1 2025 +12% REVENUE GROWTH Growth normalizing after the strong initial uptake period Direct machine revenue from new customers represented 16% of Australia, 5% total AUS direct machine revenue in H1 2026 (
Slide 14: Regional Performance: Rest of World
REGIONAL PERFORMANCE REST OF WORLD1 REGIONAL REVENUE US$ 2.5m H1 2026 revenue, up from US$ 2.4m in H1 2025 REVENUE GROWTH +7% Driven primarily by higher sales volume into Latin America ROW, 5% Given the relatively small base of business in each geography, trading will fluctuate from period to period
Slide 15: Sales by Product Category
SALES BY PRODUCT CATEGORY US$ MILLIONS H1 2026 H1 2025 Commentary Boomed screeds(1) 17.6 $ 13.3 Ride-on screeds(2) 10.2 7.1 BOOMED SCREEDS Remanufactured machines 3.3 3.4 +33% US$ 17.6m, up from US$ 13.3m, as larger project activity returns; mix reflects project size and type 3-D Profiler System® 4.
Slide 16: Operating Results
OPERATING RESULTS US$ MILLIONS H1 2026 H1 2025 Commentary Revenue $ 48.7 $ 39.8 GROSS PROFIT Gross profit 25.7 21.0 US$ 25.7m, up from US$ 21.0m, manufacturing Operating expenses: +22% cost and sourcing actions offset inflation and Selling, marketing & customer tariffs, maintaining gross margin at 5
Slide 17: Balance Sheet
BALANCE SHEET JUNE DECEMBER US$ MILLIONS 30, 2026 31, 2025 Commentary Cash $ 29.6 $ 33.2 Accounts receivable, net 5.6 7.0 NET CASH Inventory 22.2 21.0 $29.6m Cash of US$ 29.6m and no debt, after US$ 5.8m of share repurchases and US$ 3.4m of dividends Prepaid & other 2.4 3.3 Total current assets 59.7
Slide 18: Cash Flows
CASH FLOWS US$ MILLIONS H1 2026 H1 2025 $ 6.7 $ 2.6 Commentary Net income Adjustments to reconcile to cash OPERATING CASH FLOW 1.7 2.5 provided by operating activities +76% Operating cash flow of US$ 7.1m, up from US$ 4.1m, as net income rose to US$ 6.7m Net working capital changes (1.3) (1.0) Net c
Slide 19: Capital Allocation
CAPITAL ALLOCATION Capital Allocation Framework Maintain strong balance sheet Ordinary Dividend Policy Remains Unchanged: $ Fixed payout ratio of 50% of adjusted net income Interim dividend declared: Invest in the business US$ 0.05 per share (2025: US$ 0.04) Share Buyback Strategic Return capital H1
Slide 20: Strategic Plan Update: Shaping Excellence
STRATEGIC PLAN UPDATE Shaping Excellence To shape a future where innovation and excellence lead the way! Fortify Reinforcing the foundation of the business to ensure resilience, consistency, and operational discipline across cycles. Innovate Innovate Somero 3.0 Advancing technology and product devel
Slide 21: Fortify. Innovate. Amplify. (Fortify: Operations)
FORTIFY. INNOVATE. AMPLIFY. Reinforcing the foundation of the business to ensure resilience, consistency, and operational discipline across cycles. Operational Excellence Organizational Development Lean, visual management, and 6S embedded daily Continued investment in employee development Efficiency
Slide 22: Fortify. Innovate. Amplify. (Customer Support)
FORTIFY. INNOVATE. AMPLIFY. Reinforcing the foundation of the business to ensure resilience, consistency, and operational discipline across cycles. Customer Support & Service Excellence Somero Concrete Institute (SCI) Europe 24/7 technical support, training, and field service Launched in H1 2026, ex
Slide 23: Fortify. Innovate. Amplify. (Next Generation Products)
FORTIFY. INNOVATE. AMPLIFY. Advancing technology and product development to expand our addressable market and reinforce category leadership. Boomed screed sales up 33% to US$ 17.6 million vs H1 2025 Next Generation S-15EZ Next Generation S-22EZ+ Advanced automation, precision control Flagship platfo
Slide 24: Fortify. Innovate. Amplify. (Hammerhead and Viper)
FORTIFY. INNOVATE. AMPLIFY. Advancing technology and product development to expand our addressable market and reinforce category leadership. Hammerhead Ride-on Screed Viper Walk-Behind Screed Opens the small to mid-size segment Debuted at World of Concrete More accessible entry point to Somero Small
Slide 25: Fortify. Innovate. Amplify. (Connected Machines)
FORTIFY. INNOVATE. AMPLIFY. Advancing technology and product development to expand our addressable market and reinforce category leadership. Technology Development – Connected Machines Where We Are Today Value We Are Creating Standard S-15EZ, S-22EZ+, S-28EZ Fortify enabler - strengthens 24/7 suppor
Slide 26: Fortify. Innovate. Amplify. (Innovation Pipeline)
FORTIFY. INNOVATE. AMPLIFY. Advancing technology and product development to expand our addressable market and reinforce category leadership. Innovation Pipeline Active, Robust Pipeline Strengthened Capabilities Built on Deep Engagement Focused on evolving needs Expanded product management Year
Slide 27: Fortify. Innovate. Amplify. (Commercial Expansion)
FORTIFY. INNOVATE. AMPLIFY. Expanding Somero’s reach, broadening market coverage, and deploying capital to drive long-term value creation. Commercial Expansion & Market Coverage Global dealer network up 23% now 37 (multiple locations) Expanded product-specialist group accelerating Hammerhead adoptio
Slide 28: Mergers & Acquisitions Framework
FORTIFY. INNOVATE. AMPLIFY. Expanding Somero’s reach, broadening market coverage, and deploying capital to drive long-term value creation. Mergers & Acquisitions Framework STRATEGIC FILTERS FINANCIAL CRITERIA PROCESS & GOVERNANCE Incremental Revenue Board-Level Review Technology / Capability Portfol
Slide 29: H1 2026 Results & Outlook
H1 2026 RESULTS & OUTLOOK Delivering Results 01 • Broad based return to growth • Strong cash generation; net cash and a debt-free balance sheet • Returned capital to shareholders through buybacks and dividends Executing the Strategy 02 • Fortify, Innovate, Amplify initiatives underway with measurabl
Slide 30: Investment Case
INVESTMENT CASE OUR INVESTMENT CASE IS BASED ON SIX CORE STRENGTHS MARKET LEADING POSITION 20+ products, small pours to complex placements; category creator INDUSTRY LEADER IN NEW TOTAL SOLUTIONS PROVIDER PRODUCTS Equipment, expertise, aftermarket parts & Innovation and protected technology, service
Slide 31: Questions
QUESTIONS 31
Slide 32: Appendices
APPENDICES 1986 - 2026
Slide 33: Executive Leadership
GOVERNANCE EXECUTIVE LEADERSHIP Tim Averkamp Howard Hohmann Vincenzo (Enzo) LiCausi Jesse Aho Chief Executive Officer & Director Chief Commercial Officer Chief Financial Officer, Secretary, Director President Global Operations Joined 2025 Joined 1997 Joined 2018 Joined 2008 30+ yrs. in international
Slide 34: At a Glance
AT A GLANCE Who we are Somero pioneered the Laser Screed® machine providing industry-leading Customers in concrete-leveling equipment, training, education and support for 40 years 90+ Countries Global Headquarters Somero Concrete Institute Training Fort Myers, Florida, USA Founded 160+ LSE (AIM: SOM
Slide 35: Leaders in Leveling
LEADERS IN LEVELING Building Owners/End-Users Specifying Flat, Level Floors: Extensive track record of Golden Trowel Awards for laser screeded floors won using a Somero Laser Screed® Golden Trowel award given annually to commercial concrete contractors that achieve the highest industry standards in
Slide 36: Strong Financial Profile
STRONG FINANCIAL PROFILE • Premium brand Free • Healthy profits Gross • Low labor cost Atlantic Mine (Houghton), MI Margins Cash • Modest working capital investment • Low capital assembly operation Flows • Inventory to support short order lead times • Flexible cost structure • Tenured senior leaders
Slide 37: Products & Applications
PRODUCTS & APPLICATIONS RELEASE PRODUCT APPLICATION MARKET BOOMED SCREEDS: 2026 S-22EZ+ 2025 S-15EZ SRS-4e SRS-6s 2025 SRS-4e 25,000-50,000+ ft2 placements SRS-4 2024 SRS-6 warehouses, SLAB ON GRADE 2022 S-PS50 manufacturing CAST-IN-PLACE assembly plants, tilt- S-22EZ+ S-28EZ 2022 S-28EZ panel and a
Slide 38: Products & Applications
PRODUCTS & APPLICATIONS RELEASE PRODUCT APPLICATION MARKET WALK-BEHIND SCREEDS: 2026 Viper® Small commercial, SLAB ON GRADE residential and multi- SLAB ON DECK 2009 Mini Screed® level placements Mini Screed® CopperHead® Viper® 2002 CopperHead® XD 3.0 MATERIAL APPLICATION: Projects involving 2024 STS
Slide 39: Training and Expertise
TRAINING AND EXPERTISE Somero does more than sell equipment. The Company helps customers grow profitable businesses by providing access to world class training and concrete placement & finishing expertise. IN-PERSON ON DEMAND VIRTUAL In-Person at the Somero Concrete Institute On demand training thro
Slide 40: Our ESG Framework
OUR ESG FRAMEWORK Our goal is to strike the right balance between shareholder expectations and the needs and concerns of our employees and customers, the communities we live in, and the environment. Social Somero is dedicated to fostering an open and inclusive working environment for our employees,
Slide 41: ESG in Action: Social
ESG IN ACTION: SOCIAL Habitat for Humanity (Spring 2026) Feeding America Upper Peninsula BackPack Food Program (Summer 2026) ▪ Industry Support ▪ Charitable Donations ▪ Employee Volunteering ▪ PTO Employee Training ▪ Somero Concrete Institute Harry Chapin Food Bank SW Florida (Spring & Fall 2025) Ho
Slide 42: ESG in Action: Environmental
ESG IN ACTION: ENVIRONMENTAL Investments and actions to reduce Environmental Study Phase I: 2021 Middle Tennessee waste, energy and water consumption: State University research study identified environmental benefits from the use of Somero laser screed • Cardboard recycling baler equipment over trad
Slide 43: Historical Results
HISTORICAL RESULTS YEARS ENDED DECEMBER 31, US$ Millions 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Revenue 24.2 21 21.9 32.2 45.1 59.3 70.2 79.4 85.6 94.0 89.3 88.6 133.3 133.6 120.7 109.2 88.9 Revenue growth -53% -13% 4% 47% 40% 31% 18% 13% 8% 10% -5% -1%