Comer Industries Spa · MIL:COM
Comer Industries Spa — Investor Presentation (April 2025)
21 slides from Comer Industries Spa's investor presentation, Apr 16, 2025
Slide 1: Comer Industries Corporate Presentation
COMER INDUSTRIES CORPORATE PRESENTATION 16 APRIL 2025 - Equity Story Comer Industries Proprietary & Confidential 1
Slide 2: Key Pillars
Overview COMER INDUSTRIES 2025 Key Pillars Sharpen strategic direction Lay foundation for continuous Unlock potential in market towards future growth excellence in performance capitalization - Equity Story Comer Industries Proprietary & Confidential 2 2
Slide 3: Solid financial performance through operational excellence and continuous growth
Overview COMER INDUSTRIES 2025 Solid financial performance through operational excellence and continuous growth 01 Solid financial performance 02 Continuously ambitious growth 03 Operational excellence Best in class product 04 development 05 Result-driven culture 06 FY 2024 Financial results - Equit
Slide 4: Successful transition: from a family-owned company to managerial excellence
1 | Solid financial performance COMER INDUSTRIES 2025 Successful transition: from a family-owned company to managerial excellence REVENUE EBITDA MARGIN 2024 €0.9 bn 16.7% 2ND GENERATION TAKES OVER 2017 €0.3 bn 8.7% 4
Slide 5: Profitable growth with continuous efficiency improvements and strategic development
1 | Solid financial performance COMER INDUSTRIES 2025 Profitable growth with continuous efficiency improvements and strategic development Amount in (€m) 16,7% 16,7% 14,5% Cost effectiveness through 12,3% 12,4% efficient operations 11,3% 10,1% 1.238 1.224 8,7% 1.048 7,2% 942 Growth at margins above i
Slide 6: High ability to generate value from M&A
1 | Solid financial performance COMER INDUSTRIES 2025 High ability to generate value from M&A Before After Acquisitions Y2020 Standalone companies Integration Y2024 Consolidated companies Revenues Revenues 940 ~ 800 Comer 11.1% Group Comer Industries 16.7% EBITDA-Margin1 EBITDA-Margin Walterscheid S
Slide 7: Firepower available for further inorganic growth
2 | Continuously ambitious growth COMER INDUSTRIES 2025 Firepower available for further inorganic growth 2021 2022 ~ 400 mn available for next acquisition1 FUTURE TARGETS Existing business fields to increase market share New technologies Electric, electronic and hydraulic for the move towards system
Slide 8: High flexibility due to local production footprint in markets
2 | Continuously ambitious growth COMER INDUSTRIES 2025 High flexibility due to local production footprint in markets 11 Germany (3) + R&D centers Production facilities 8 USA (1) Italy (4) + R&D centers + R&D centers China (1) R&D centers India (1) 16-20 Delivery time weeks Brazil (1) Value proposit
Slide 9: Close to the customer to execute complex projects fast
3 | Operational Excellence COMER INDUSTRIES 2025 Close to the customer to execute complex projects fast Long-lasting Understanding Data and system Physical relationships customers integration proximity 9
Slide 10: High durability and reliability of products for heavy use purposes
4 | Best in class product development COMER INDUSTRIES 2025 High durability and reliability of products for heavy use purposes ~ 300 PPM1 ~ 10 years ~ 75 Complain rate Average Active patents (0.03%) product lifetime 1. Parts per million, customer requirements of 500-2,000 PPM 10
Slide 11: Customer advancement through co-development
4 | Best in class product development COMER INDUSTRIES 2025 Customer advancement through co-development ~ 15% ~ 70% < 2 years of products developed of products time to in co-development customized market High flexibility and short time to market Value creation beyond manufacturing Stable client rela
Slide 12: Comer Industries management enables strong bottom-line results with visionary outlook
5 | Result-driven culture COMER INDUSTRIES 2025 Comer Industries management enables strong bottom-line results with visionary outlook Driven by results when following growth opportunities Clear bottom-line focus in every decision made Excellent execution skills in pursuing full excellence with a “ca
Slide 13: FY 2024 Financial results
COMER INDUSTRIES 2024 6 | FY 2024 Financial results 13
Slide 14: Economic KPI's
6 | FY 2024 Financial Results COMER INDUSTRIES 2025 ECONOMIC KPI’s Market declined but EBITDA has proven to be resilient, confirmed margin equal to FY 2023 REVENUES (€m) EBITDA (€m) (% on Revenue) 205 1.224 942 158 16.7% 16.7% 272 46 198 33 17.0% 16.8% 1 2 Q4 Q4 FY FY Q4 Q4 FY FY 2023 2024 2023 2024
Slide 15: Revenues by Sector
6 | FY 2024 Financial Results COMER INDUSTRIES 2025 Revenues by Sector The agricultural sector continues to be weak also in Q4 2024 - in line with previous quarters - mainly due to low demand from farmers concerned about low raw material prices and high production costs Lower demand accelerates in Q
Slide 16: Revenues by Geography
6 | FY 2024 Financial Results COMER INDUSTRIES 2025 Revenues by Geography EMEA region is the one that continues to underperform, penalized by the macroeconomic trend, mainly in Germany American market slowed down sharply in Q4 2024, recording an annual performance like the European ones The APAC reg
Slide 17: Business Trend
6 | FY 2024 Financial Results COMER INDUSTRIES 2025 BUSINESS TREND (Revenues in €m) 21,2% 17,0% 22,0% (Q/Q Growth rate %) 12,3% 11,0% Current market trend, which began after the peak reached in Q2 2023, continued in 2,7% (9,5%) (9,3%) Q4 2024 with no signs of reversal (21,3%) (21,9%) (22,5%) (27,1%)
Slide 18: Financial KPI's
6 | FY 2024 Financial Results COMER INDUSTRIES 2025 FINANCIAL KPI’s Although sales decreased, the Group's financial structure is still solid with ample flexibility for M&A NET FINANCIAL POSITION One-off included in FY 2024: • LTIP payment equal to €13m (58) • Strategic investment in Rockford plan (U
Slide 19: Industry Overview: Agriculture
6 | FY 2024 Financial Results COMER INDUSTRIES 2025 INDUSTRY OVERVIEW: AGRICULTURE EMEA USA CEMA BUSINESS BAROMETER MARCH 2025 AG ECONOMIC BAROMETER FEBRUARY 2025 European Agricultural machinery industry Pardue University - 19 19
Slide 20: Industry Overview: Industrial
6 | FY 2024 Financial Results COMER INDUSTRIES 2025 INDUSTRY OVERVIEW: INDUSTRIAL CONSTRUCTION EQUIPMENT EMEA MARKET ENVIRONMENT CECE BUSINESS CLIMATE JANUARY 2025 Volvo construction equipment – February 2025 Committee for European Construction Equipment - 20 20
Slide 21: Thank You
COMER INDUSTRIES 2025 THANK YOU Contact: Alessandro Brizzi Investor Relator ir@comerindustries.com +39 3316685321 - 21 21
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