Arbonia Ag · SIX:ARBN
Arbonia — Investor Day (March 2025)
71 slides from Arbonia's investor day presentation, Mar 27, 2025
Slide 1: Capital Markets Day 2025
Capital Markets Day 2025 Claudius Moor (CEO), Uwe Schiller (CFO)
Slide 2: Schedule
Schedule Time Topic Speaker Place 9.00 - 9.30 Arbonia – One strategy Claudius Moor, CEO Zentralheize, Erfurt 9.30 - 10.00 Market outlook & financial targets Uwe Schiller, CFO Zentralheize, Erfurt 10.00 - 10.30 Q&A session all Zentralheize, Erfurt 11.00 - 12.00 Tour of Arbonia Next25 Uwe Schiller, CF
Slide 3: Arbonia
sf} ARBONIA
Slide 4: One
s} ARBONIA One
Slide 5: One play
s} ARBONIA One play
Slide 6: Number one in Europe
s} ARBONIA Number one in Europe
Slide 7: Priorities and performance drivers
Product innovation Delivery performance Profitability Process costs Product quality Cash Flows Revenues Customer service Place to work Sustainability Maintenance Product range Digitalization / AI Brand
Slide 8: One face to the customer
s} ARBONIA one face to the customer
Slide 9: One stop for the customer
s} ARBONIA one stop for the customer
Slide 10: One overarching brand
s} ARBONIA one overarching brand
Slide 11: One production footprint
s} ARBONIA one production footprint
Slide 12: One vision
s} ARBONIA one vision
Slide 13: One mission
s} ARBONIA one mission
Slide 14: One strategy
s} ARBONIA one strategy
Slide 15: Our vision: The most desired door brand
Our vision The most desired door brand.
Slide 16: Our mission
Our mission We transform the architecture and enhance the understanding of solutions that connect spaces.
Slide 17: Our strategy
Our strategy Arbonia one – Market leader in continental Europe Production sites of Arbonia1 European Footprint standard doors specialized doors glass doors Weinsheim (DE) Roggwil (CH) Dagmersellen (CH) Key markets 1 1 1 1.3 M doors / year 100k doors / year 2'000 m² P-area Export markets Ichtershause
Slide 18: Brand structure
Brand structure Group label Product labels PRÜM- GARANT TPO Bekon- Arbonia RWD INVADO Interwand DIMOLDURA LIGNIS joro Türen Kermi Türenwerk Türen und Holz-Systeme Koralle Glassysteme Schlatter AG Sp. z o.o. GmbH IBÉRICA, S.L. s.r.o. GmbH GmbH Production sites GmbH Zargen GmbH GmbH AG GmbH
Slide 19: We are an international premium brand
We are an international premium brand.
Slide 20: A leading interior brand for room solutions
We are a leading interior brand for room solutions made of wood, glass and metal.
Slide 21: Comfortable, stylish and safe living
Which makes life at home and in public areas comfortable, stylish and safe.
Slide 22: Doors, shower enclosures and room dividers
Our doors, shower enclosures and room divider systems combine our enthusiasm for innovation and design with outstanding material and craftsmanship quality.
Slide 23: Complete range for end and contract customers
As a unique provider of a complete range, we offer end and contract customers exceptional creative freedom.
Slide 24: Customized support from a single source
As well as customized support from our first-class service teams and partners throughout Europe, from planning to maintenance - all from a single source.
Slide 25: 140 years of experience
With 140 years of experience, we develop and produce innovative masterpieces that drive the interior sector forward.
Slide 26: Rethinking doors and fittings
We are rethinking doors and fittings. Only when they work together do they develop their full effect and open up a wide range of interior design options.
Slide 27: State-of-the-art plants in Europe
We produce in state-of-the-art plants in Europe Arbonia Investments in Industry 4.0 in the last 5 years EUR > 300 M Guaranteed delivery capability in the upswing Capacity reserves of > 30 %
Slide 28: Integrated, seamless, cloud-based processes
Integrated, seamless, cloud-based processes Visual 3D configuration Technical configuration SAP(ERP) Production system MES / MOTIS Machines Industrie 4.0
Slide 29: We generate our own energy from waste
We generate our own energy from waste 50-60 % self-generated electricity1 -28 % CO2 emissions1 > 100 % self-generated heat1 1 In our two largest door factories Prüm and Garant.
Slide 30: Wood as a key to success
Wood as a key to success Steel frames cause 12 times more greenhouse gas emissions than wooden frames and have a 10 times greater impact on the environment.
Slide 31: We promote sustainable products
We promote sustainable products The use of a linoleum surface means 6.4 kg less CO2 per door compared to CPL.
Slide 32: Open for aspiration
Open for aspiration.
Slide 33: Arbonia
sf} ARBONIA
Slide 34: Agenda
Agenda Recap 2024 Guidance 2025 Market outlook Mid-term guidance Q&A session Capital Markets Day 2025 | 27 March 2025 34
Slide 35: New Arbonia with focus on Interior Doors Business
New Arbonia with focus on Interior Doors Business Milestones in 2024 Division Climate • EU Commission approved sale of the Climate division on 28 January 2025 • Sale of Climate division closed on 26 February 2025, proceeds from the sale of EUR 742 million • Distribution of proceeds to shareholders p
Slide 36: Gaining market leadership in continental Europe
Gaining market leadership in continental Europe Acquisition of Dimoldura/Lignis in context Core markets Arbonia Doors and … … combined with Dimoldura/Lignis Platform for growth • Participation in growing Spanish construction market; new-built CAGR 2024-27 of 7.2%3 • Market entry France – Europe's 2n
Slide 37: Closing of sale of Division Climate
Closing of sale of Division Climate Transaction closed on 26 February 2025 Net cash / debt development post sale of Climate (estimate) • Cash proceeds total EUR 742 M ~167 • Transaction closed at the beginning of the year, which is ~(37) ~130 normally cash intensive due to normal seasonal patterns,
Slide 38: Closing timeline
Closing timeline General meeting after closing to decide on the repayment of funds Approval by EU Notice to CMD Arbonia AGM Arbonia Payment date commission creditors Resolutions: ordinary dividend FY '23 of CHF 0.30 ordinary dividend FY '24 of CHF 0.33 nominal value repayment of CHF 4.00 ext
Slide 39: 2024 summary
2024 summary Financials 20241 CHF 604.4 M CHF 48.7 M 8.1 % net revenues (pro-forma) adj. EBITDA (pro-forma) adj. EBITDA margin (pro-forma) 1. With acquisition of Dimoldura/Lignis, Arbonia took over market leadership in continental Europe, at the same time entering Key messages attractive markets in
Slide 40: Establishing the European market leader for door frames
Establishing the European market leader for doors frames Development of Arbonia Doors Milestones Looser- Integration of Capacity Start of ERP Integration of SAP Go Live Interwand- Dimoldura/ Dimoldura/Lignis (pro-forma) acquisition Prüm, Garant expansion harmonization BU Glass incl. Invado; Joro- ac
Slide 41: Competitive landscape
Competitive landscape Strong market positions and attractive competitive environment 2023 2024 Arbonia's market position in Europe Net revenues in CHF M -9.7% 1,067 964 -4.4% 630 602 -12.8% Nordics 201 175 Competitor 1 Competitor 2 Arbonia1 organic growth: -9.7% -12.8% -2.1%1 UK CEE DACH No. 4 -17.0
Slide 42: Agenda
Agenda Recap 2024 Guidance 2025 Market outlook Mid-term guidance Q&A session Capital Markets Day 2025 | 27 March 2025 42
Slide 43: 2025 Guidance
2025 Guidance By leveraging: • Geographic distribution • Product portfolio ranging from standard to special doors Revenue • Project business and new sales channels Revenues should increase in 2025 3-5% net revenue growth1, from a pro- forma revenue of CHF 604 M in 2024 Due to modern factories with a
Slide 44: Agenda
Agenda Recap 2024 Guidance 2025 Market outlook Mid-term guidance Q&A session Capital Markets Day 2025 | 27 March 2025 44
Slide 45: Revenue breakdown Arbonia
Revenue breakdown Arbonia Including FX effects, continuing operations (excl. Climate) 2023 2024 (pro-forma3) NL/BE Others PT Others SWE2 AT 4% NL/BE 3% AT 2% 2% 2% 2% 2% 1% 7% CEE1 5% FR 7% CEE 49% DE CH 24% 12% ES 61% DE 18% CH 1 CEE: Poland, Czechia, Hungary, Slovakia | 2 SWE: Spain, France, Portu
Slide 46: Market outlook: German residential building market
Market outlook Development of residential building market in Germany Building permits1 Building completions1 Growth/decline in renovations2 327 337 271 265 264 263 1.5% 318 261 311 215 1.0% 220 -23% -23% 205 172 170 184 0.3% 173 -0.3% 2.9% 2.9% 6.7% 11.1% 3.8% -1.0% -7.6% -2.3% -0.4% -0.3% -1.4% -29
Slide 47: Market outlook: German investment fund
Market outlook German construction market expected to benefit from investment fund Key takeaways of the German coalition's roadmap: • Creation of a special investment fund of EUR 500 B (for the next 12 years) to fund additional investments into hospitals, educational, science and (child) care infras
Slide 48: Market outlook: interest rates and housing completions
Market outlook Interest rates, mortgages and housing completions Development of European Markets (housing completions) in % in EUR M Share 4 12 Country 20243 20253 20263 20273 20232 10 3 France 30% -3% -15% -3% 0% 8 2 6 Germany 27% -15% -18% -15% -6% 4 Poland 20% -8% 3% 10% 3% 1 2 Spain 8% 8% 16% 9%
Slide 49: Market outlook: overview core markets
Market outlook Overview core markets1 D-A-CH2 Iberian Peninsula3 Central-Eastern Europe4 497 427 458 158 384 55.7 55.9 147 393 55.2 55.5 343 340 368 365 399 400 136 341 310 307 319 308 119 317 347 288 286 299 304 111 110 111 282 302 275 54.5 54.9 285 54.1 240 246 32.6 32.7 32.8 32.9 33.0 33.1 33.2 2
Slide 50: Market outlook: urbanisation in Europe
Market outlook Urbanisation in selected, major European cities (2024 – 2040) and overall population development Greater urbanisation is one of the biggest drivers of living demand over the next couple of decades Berlin Major cities continue to attract greater populations with clear consequences +4.2
Slide 51: Growth potential for Arbonia
Market outlook Growth potential for Arbonia European Doors Market 2024 Market share Arbonia1 in terms of volume (wooden doors) Revenue split Arbonia (pro-forma)2 in CHF M NL/BE Others CEE 4% Jeld-Wen 6% 2% ~20% FR 28 million 7% Interior doors 28 M CHF ES 12% doors ~10% Arbonia 604 Mio. ~70% 69% 1.3
Slide 52: Agenda
Agenda Recap 2024 Guidance 2025 Market outlook Mid-term guidance Q&A session Capital Markets Day 2025 | 27 March 2025 52
Slide 53: Mid-term guidance (until 2029)
Mid-term guidance (until 2029) Without one-time effects and M&A • Raise market share • Market normalisation and recovery in Germany • Net revenues: CHF 820 – 850 M in 2029 • Growth stimulus from interest rate cuts Revenue1 • EBITDA-margin: 14 – 15% in 2029 • Spare capacities after completed investme
Slide 54: M&A: extending market leadership
M&A: extending market leadership Value creating acquisitions of Dimoldura and Lignis Core markets Arbonia Doors and … … combined with Dimoldura/Lignis Platform for growth • Participation in growing Spanish construction market; new-built CAGR 2024-27 of 7.2%1 • Market entry France – Europe's 2nd larg
Slide 55: Agenda
Agenda Recap 2024 Guidance 2025 Market outlook Mid-term guidance Q&A session Capital Markets Day 2025 | 27 March 2025 55
Slide 56: Appendix
Appendix Capital Markets Day 2025 | 27 March 2025 56
Slide 57: Gaining market leadership in continental Europe
Gaining market leadership in continental Europe Acquisition of Dimoldura/Lignis in context Core markets Arbonia Doors and … … combined with Dimoldura/Lignis Platform for growth • Participation in growing Spanish construction market; new-built CAGR 2024-27 of 7.2%3 • Market entry France – Europe's 2n
Slide 58: Winning market share in the project business
Winning market share in the project business (Objektgeschäft) 2024 highlights • From designs made for purpose to customized support, Arbonia covers the complete life-cycle of a door, which enables the continued growth of the project business • Raised the market share in a competitive market through
Slide 59: Revenues: 2024 Arbonia Group financial results
2024 Arbonia Group Financial Results Revenue decline reduced – EBITDA decline almost stopped in CHF M -9.2% Revenue decline significantly improved -5.0% 556 556 505 479 77 • Revenue excluding acquisitions YoY decline of 5.0% versus 9.2% in 2023 • Organic revenue (adjusted for acquisitions and FX) de
Slide 60: 2024 Division Doors
2024 Division Doors - excluding corporate costs Revenues and adj. EBITDA pro-forma for the acquisition of Dimoldura/Lignis in CHF M Revenue decline in 2024 is softening -7.4% -4.4% 680 630 602 • Division Doors is a CHF 602 M business Revenues • Revenue decline softened significantly in CHF • EUR:CHF
Slide 61: Depreciation & amortisation
2024 Arbonia Group Financial Results EBIT impacted by past investments and acquisitions in CHF M +3.7% Depreciations and Amortization are expected to rise +8.8% 7 41 42 37 2 • PPA amortizations increased in 2024 due to the acquisitions of Dimoldura/Lignis 12 11 • Activation of past investments, e.g.
Slide 62: Operational NWC
NWC1 Group Level As reported, continuing operations (excl. Climate) in CHF M -23.0% 81 Operational NWC, adjusted for acquisitions improved 71 +13.6% 26 • Operational NWC, including the acquisitions of Dimoldura/Lignis increased by Operational NWC1 55 13.6%, resulting in 13.5% of net revenues 14.2% 1
Slide 63: Capex in % of net revenue
Capex in % of Net Revenue As reported, continuing operations (excl. Climate) in CHF M Arbonia Group Doors -54.3% -42.2% 1041 99 58 -13.9% -15.2% 58 57 Corporate 59 49 25 50 Center 33 33 17 Strategic Capex 17 Strategic Capex 46 Maintenance Capex 41 26 33 32 Maintenance Capex 25 23.3% 17.9% Corporate
Slide 64: Cash flow and net debt development
Cash Flow1 and Net Debt Development Continuing operations (excl. Climate) in CHF M +900.0% Cash Flow and Operational 1 10 Operational Cash Flow remained stable Op. CF excl. Capex Capex 60 60 Capex • Cash Flow from operations remained stable and with declining Capex, -59 -50 Cash Flow after Capex imp
Slide 65: Income Statement
Income Statement As reported, continuing operations (excl. Climate) In CHF m 2024 in % 2023 in % EBITDA EBITDA one-time one-time effects effects (CHF 24.6 M total net) Net Revenues 556.3 100.0 504.6 100.0 (CHF 24.6 M total net) Cost of material and goods -216.0 -38.8 -199.7 -39.6 • Other operating i
Slide 66: Consolidated Balance Sheet, Assets
Consolidated Balance Sheet, Assets Incl. discontinued operations in 1’000 CHF 31.12.2024 % 31.12.2023 % Assets Assets held for sale Cash and cash equivalents 23’639 17’160 • Recognition of the assets of the Climate division and AFG RUS under "Assets held for sale" Accounts receivable 46’072 50’041 •
Slide 67: Consolidated Balance Sheet, Liabilities and shareholders' equity
Consolidated Balance Sheet, Liabilities and shareholders' equity Incl. discontinued operations in 1’000 CHF 31.12.2024 % 31.12.2023 % Liabilities and shareholders’ equity Financial debt Accounts payable 45’126 33’139 • Increase of short-term financial debts due to: Contract liabilities 5’545 7’935
Slide 68: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Incl. discontinued operations in 1’000 CHF 2024 2023 Group result 8’279 -17’212 Change in Net Working Capital (NWC) Depreciation, amortisation and impairments 72’117 77’813 • Absolut NWC has been significantly reduced in 2023. On the low Profit/loss on disposal of no
Slide 69: EBITDA Bridge 12.2023 – 12.2024
EBITDA Bridge 12.2023 – 12.2024 DIV Doors1 in CHF m +23.7% 11.0 51.2 +9.8 Mio. 41.4 40.2 EBITDA SPI SVI MCC SI PI ECC Residual FX-Effect ACT 12/2024 Dimoldura, EBITDA w/o. Acq. Rozière, M12 2023 Lignis, M12 2024 1) 2) 3) 4) 5) 6) 7) 8) 9) Interwand 10) Explanations: 1) Actual December 2023 2) SPI -
Slide 70: Organic growth, continuing operations
Organic growth1 continuing operations Net revenues as reported Δ FX Organic 2024 2023 Acq. effect Year Total effect growth1 in CHF M Arbonia Group 556.3 504.6 +10.2% -1.6% +17.2% -5.4% Wood Solutions 425.2 367.5 +15.7% -1.1% +20.9% -4.1% Glass Solutions 129.4 134.4 -3.7% -2.7% +7.3% -8.3% 1 adjusted
Slide 71: Thank you!
Thank you! Ansprechpartner: Investor Relations +41 71 447 45 54 ir@arbonia.com Arbonia AG Amriswilerstrasse 50, CH-9320 Arbon www.arbonia.com