Slide 1: Q1 2024 Results Presentation
• Q1 2024 RESULTS PRESENTATION • May 14th, 2024
Slide 2: Executive Summary
ibdroot\projects\IBD-LN\fiberglass2019\643420_1\7. Marketing Materials\03 Analyst Presentation\Project Vicky_Analyst Presentation_ v55.pptx Executive Summary Q1 2024 key trends and figures Q1 2024 Sales growing +1.9% excluding FX at €103.9m, signaling a gradual volume recovery €24.3m adjusted EBITDA
Slide 3: Q1 2024 Results At-a-Glance
ibdroot\projects\IBD-LN\fiberglass2019\643420_1\7. Marketing Materials\03 Analyst Presentation\Project Vicky_Analyst Presentation_ v55.pptx Q1 2024 Results At-a-Glance Organic growth led by Safety division, profitability recovery on track SALES Adjusted EBITDA and % Adjusted NFP and Leverage €m Orga
Slide 4: Sales – Q1 2024 vs. Q1 2023
ibdroot\projects\IBD-LN\fiberglass2019\643420_1\7. Marketing Materials\03 Analyst Presentation\Project Vicky_Analyst Presentation_ v55.pptx Sales – Q1 2024 vs. Q1 2023 +1.9% YoY organic growth, supported by volume recovery and pricing SALES – Q1 2023 TO Q1 2024 BRIDGE €m • +1.9% organic growth (excl
Slide 5: Sales Performance by Division
ibdroot\projects\IBD-LN\fiberglass2019\643420_1\7. Marketing Materials\03 Analyst Presentation\Project Vicky_Analyst Presentation_ v55.pptx Sales – Q1 2024 Performance by Division Safety division strong order momentum leading the organic growth Healthcare & Life Sciences Health & Safety Energy & Mob
Slide 6: Adj. EBITDA Margin – Q-on-Q Evolution
ibdroot\projects\IBD-LN\fiberglass2019\643420_1\7. Marketing Materials\03 Analyst Presentation\Project Vicky_Analyst Presentation_ v55.pptx Adj. EBITDA Margin – Q-on-Q Evolution Q-on-Q profitability recovery continues ADJ. EBITDA MARGIN – Q3 2022 – Q1 2024 QUARTERLY EVOLUTION €m 23.3% 23.4% 22.1% 21
Slide 7: Adj. EBITDA vs. Q1 2023
ibdroot\projects\IBD-LN\fiberglass2019\643420_1\7. Marketing Materials\03 Analyst Presentation\Project Vicky_Analyst Presentation_ v55.pptx Adj. EBITDA – Q1 2024 vs. Q1 2023 +9.7% YoY organic growth excl. FX ADJ. EBITDA – Q1 2023 TO Q1 2024 BRIDGE €m 21.7% ADJUSTED EBITDA % 23.4% 170bps of margin ac
Slide 8: Adj. Net Income vs. Q1 2023
ibdroot\projects\IBD-LN\fiberglass2019\643420_1\7. Marketing Materials\03 Analyst Presentation\Project Vicky_Analyst Presentation_ v55.pptx Adj. Net Income – Q1 2024 vs. Q1 2023 +7.7% YoY growth excl. FX impact Adj. Net Income Adj. Net Income Excl. FX Gains/Losses €m €m 13.0 +7.7% 9.9 9.2 12.5% 9.5%
Slide 9: Adj. Net Financial Position vs. FY 2023
ibdroot\projects\IBD-LN\fiberglass2019\643420_1\7. Marketing Materials\03 Analyst Presentation\Project Vicky_Analyst Presentation_ v55.pptx Adj. Net Financial Position – Q1 2024 vs. FY 2023 Limited NWC absorption despite seasonality ADJUSTED NET FINANCIAL POSITION – FY 2023 TO Q1 2024 BRIDGE €m 2.65
Slide 10: 2024 Outlook and Guidance
ibdroot\projects\IBD-LN\fiberglass2019\643420_1\7. Marketing Materials\03 Analyst Presentation\Project Vicky_Analyst Presentation_ v55.pptx 2024 Outlook and Guidance Volume recovery to accelerate in Q32024, FY 2024 guidance confirmed Q2 2024: continue the Q1 gradual volume recovery trend across divi
Slide 11: Appendix – Support Material
Appendix – Support Material
Slide 12: Q1 2024 Results – Financial Statements: P&L
ibdroot\projects\IBD-LN\fiberglass2019\643420_1\7. Marketing Materials\03 Analyst Presentation\Project Vicky_Analyst Presentation_ v55.pptx Q1 2024 Results – Financial Statements Q1 2023 and Q1 2024 P&L – Statutory Adjusted View of which Q1 2023 of which Q1 2024 €m Q1 2023 % Q1 2024 % non-recurring
Slide 13: Q1 2024 Results – Financial Statements: Balance Sheet
ibdroot\projects\IBD-LN\fiberglass2019\643420_1\7. Marketing Materials\03 Analyst Presentation\Project Vicky_Analyst Presentation_ v55.pptx Q1 2024 Results – Financial Statements Reclassified Balance Sheet - FY 2023 – Q1 2024 FY 2023 Q1 2024 €m Net intangible fixed assets 471.7 473.9 Net usage right
Slide 14: Q1 2024 Results – Financial Statements: Cash Flow
ibdroot\projects\IBD-LN\fiberglass2019\643420_1\7. Marketing Materials\03 Analyst Presentation\Project Vicky_Analyst Presentation_ v55.pptx Q1 2024 Results – Financial Statements Cash Flow Statement - Q1 2023 – Q1 2024 €m Q1 2023 Q1 2024 Pre-tax result 3.5 12.5 Amortisation, depreciation and writedo
Slide 15: Intercompany Loans
ibdroot\projects\IBD-LN\fiberglass2019\643420_1\7. Marketing Materials\03 Analyst Presentation\Project Vicky_Analyst Presentation_ v55.pptx Intercompany Loans Q1 2024 FX gains – detailed calculation FY 2023 FY 2023 Main USD denominated financial receivables from subsidiaries EUR m USD m GVS NA Holdi
Slide 16: Disclaimer
ibdroot\projects\IBD-LN\fiberglass2019\643420_1\7. Marketing Materials\03 Analyst Presentation\Project Vicky_Analyst Presentation_ v55.pptx Disclaimer Pursuant to art. 154-bis, paragraph 2, of the Italian Unified Financial Act of February 24, 1998, the executive in charge of preparing the corporate