Zumtobel Group Ag · VIE:ZAG
Zumtobel — Q1-Q3 2024/25 Earnings Presentation
20 slides from Zumtobel's earnings presentation, Mar 6, 2025
Slide 1: Q1-Q3 2024/25 Management Presentation
Q1-Q3 2024/25 MANAGEMENT PRESENTATION 6 March 2025 1
Slide 2: Disclaimer
DISCLAIMER The facts and information contained herein constitute forward-looking statements as of the date they were made and based upon assumptions as to future events or circumstances that may not prove to be complete or accurate. By their nature, these statements involve risk and uncertainty beca
Slide 3: Zumtobel Group Q1-Q3 2024/25 Financial Overview
ZUMTOBEL GROUP Q1-Q3 2024/25 FINANCIAL OVERVIEW IN EUR MN Q1-Q3 2024/25 Q1-Q3 2023/24 CHANGE IN % Group revenues 828.1 840.0 –1.4 Lighting Segment revenues 652.0 663.4 –1.7 Components Segment revenues 226.6 222.6 1.8 Adjusted gross profit 1 304.9 297.9 2.3 Adjusted EBIT 41.0 45.9 –10.7 Net profit fo
Slide 4: Project references: Landhaus St. Pölten, TÜV Süd Munich, Giant
LANDHAUS ST.PÖLTEN, Austria TÜV SÜD MUNICH, Germany © Julio Piatti 4 GIANT, Germany BIBLIOTHECA ALEXANDRINA, Egypt NOTRE-DAME DE PARIS, France
Slide 5: Lighting Segment: lower revenues and higher personnel expenses hit adjusted EBIT
LIGHTING SEGMENT LOWER REVENUES AND HIGHER PERSONNEL EXPENSES HAD A NEGATIVE IMPACT ON THE ADJUSTED EBIT REVENUES IN EUR MN ADJUSTED EBIT IN EUR MN fx-adj. fx-adj. fx-adj. 11.7% 0.8% –1.0% –6.9% 8.9% 7.8% 1.1% –0.4% –6.2% 5.5% 7.7% 6.0% 26.9 1.0% 224.1 226.6 230.3 229.5 226.0 208.9 195.9 20.1 17.3 1
Slide 6: Components Segment: adjusted EBIT increased due to lower material costs
COMPONENTS SEGMENT ADJUSTED EBIT INCREASED DUE TO LOWER MATERIAL COSTS AND AN INVENTORY REVALUATION EFFECT REVENUES IN EUR MN ADJUSTED EBIT IN EUR MN fx-adj. fx-adj. fx-adj. 8.4% 5.4% 2.8% –2.5% 5.9% 3.0% 4.3% 2.5% –1.8% 4.3% 2.9% 3.7% -1.9% 77.0 80.3 75.1 77.0 76.8 6.5 70.5 69.2 4.7 3.2 2.8 2.2 2.1
Slide 7: Group: lower material ratio unable to offset weak demand
ZUMTOBEL GROUP LOWER MATERIAL RATIO UNABLE TO OFFSET WEAK DEMAND AND OVERALL HIGHER PERSONNEL EXPENSES REVENUES IN EUR MN ADJUSTED EBIT IN EUR MN fx-adj. fx-adj. fx-adj. 8.8% 1.3% 0.8% –6.4% 7.0% 7.3% 1.2% –0.1% –5.7% 2.2% 5.1% 4.0% 285.6 289.1 288.9 288.6 287.0 -0.1% 265.5 250.5 25.5 20.2 21.0 14.5
Slide 8: Adjusted EBIT bridge / as % of sales
ZUMTOBEL GROUP LOWER MATERIAL COSTS AND A POSITIVE REVALUATION EFFECT WERE MORE THAN OFFSET BY WEAK DEMAND AND HIGHER OVERALL PERSONNEL EXPENSES ADJUSTED EBIT BRIDGE IN EUR MN / AS % OF SALES 5.5% –0.6pp 4.9% 14.5 45.9 41.0 -11.9 -7.5 Mainly due to negative volume Mainly due to a positive Mainly due
Slide 9: Group income statement
ADJ. GROSS PROFIT MARGIN INCREASED TO 36.8%; ADJ. EBIT BELOW PREVIOUS YEAR DUE TO WEAK ENVIRONMENT ZUMTOBEL GROUP – INCOME STATEMENT IN EUR MN Q1-Q3 2024/25 Q1-Q3 2023/24 CHANGE IN % Revenues 828.1 840.0 –1.4 Adjusted cost of goods sold –523.2 –542.1 –3.5 Adjusted gross profit (incl. development) 30
Slide 10: Group cash flow statement
LOWER CASH FLOW FROM OPERATING RESULTS AND CHANGES IN WORKING CAPITAL IMPACTED OUR FREE CASH FLOW ZUMTOBEL GROUP – CASH FLOW STATEMENT IN EUR MN Q1-Q3 2024/25 Q1-Q3 2023/24 Cash flow from operating results 69.2 78.5 Change in working capital 1.2 8.7 Change in other operating items –16.2 –22.3 Taxes
Slide 11: Solid balance sheet: strong equity ratio and debt coverage ratio
SOLID BALANCE SHEET: STRONG EQUITY RATIO AND DEBT COVERAGE RATIO ZUMTOBEL GROUP – KEY BALANCE SHEET DATA IN EUR MN 31 January 2025 30 April 2024 Solid liquidity position backed by: Total assets 996.3 987.2 • Consortium credit agreement with a term ending in December 2028 and a volume of EUR 125 mn N
Slide 12: Current market outlook
CURRENT MARKET OUTLOOK Growth in non-residential construction Development of non-residential construction in 2025 until 2027 (for selected countries) Development in 2024 • Weak non-residential construction 3.1 forecasts were confirmed in 2024 1.8 2.1 • New-built residential construction 1.2 1.5 decl
Slide 13: Full year 2024/25 outlook
Full year 2024/25 outlook — with adjusted revenues and CAPEX expectations Revenues slightly below Adjusted EBIT CAPEX excl. IFRS 16 prior year margin ~EUR 50 mn (prior: revenue at of 3 – 6% (prior: ~EUR 60 mn) least slightly above previous year) Q1-Q3 2024/25 results 13 Copyright notice: Jens Ellens
Slide 14: Back up
BACK UP Q1-Q3 2024/25 results 14
Slide 15: Regional revenue distribution
GROUP REVENUES SLIGHTLY DOWN BY –1.4% IN Q1-Q3 2024/25 ZUMTOBEL GROUP – REGIONAL REVENUE DISTRIBUTION CHANGE IN % IN EUR MN Q3 2024/25 CHANGE IN % Q1-Q3 2024/25 NOMINAL FX ADJUSTED D/A/CH 93.8 0.6 310.9 2.2 1.7 Northern and Western Europe 55.7 –5.0 202.1 4.0 2.5 Southern and Eastern Europe 64.8 –9.0
Slide 16: Financial calendar
FINANCIAL CALENDAR DATE SUBJECT PERIOD 24 July 2025 Annual Results 2024/25 1 May 2024 – 30 April 2025 4 September 2025 Interim Report Q1 2025/26 1 May 2025 – 31 July 2025 16 September 2025 Record Date for the Annual General Meeting 26 September 2025 49th Annual General Meeting 30 September 2025 Ex-D
Slide 17: Working capital development
WORKING CAPITAL DEVELOPMENT ZUMTOBEL GROUP – WORKING CAPITAL 21.0 21.5 20.7 19.7 19.7 19.8 20.4 19.2 20.0 18.4 17.4 • Working capital at EUR 227.7 mn as of 31 January 2025 (30 April 2024: EUR 225.6 mn) • In % of rolling 12-month revenues, working capital at 20.4% (PY: 19.8%) Q1 Q2 Q3 Q4 FY 2022/23 F
Slide 18: Supplementary data for segment reporting
SUPPLEMENTARY DATA FOR SEGMENT REPORTING ZUMTOBEL GROUP Lighting Segment Components Segment Reconciliation Group Q1-Q3 Q1-Q3 Q1-Q3 Q1-Q3 Q1-Q3 Q1-Q3 Q1-Q3 Q1-Q3 IN EUR MN 2024/25 2023/24 2024/25 2023/24 2024/25 2023/24 2024/25 2023/24 Net revenues 652,0 663.4 226.6 222.6 -50.5 -46.0 828.1 840.0 Exte
Slide 19: Five-year overview
FIVE-YEAR OVERVIEW ZUMTOBEL GROUP IN EUR MN 2023/24 2022/23 2021/22 2020/21 2019/20 Revenues 1,127.0 1,209.2 1,148.3 1,044.5 1,131.3 Adjusted EBIT 57.3 84.3 60.8 45.5 53.9 as a % of revenues 5.1 7.0 5.3 4.4 4.8 EBIT 49.5 84.3 60.8 43.4 35.1 as a % of revenues 4.4 7.0 5.3 4.2 3.1 Net profit/loss for
Slide 20: Zumtobel Group AG Investor Relations
ZUMTOBEL GROUP AG Investor Relations investorrelations@zumtobelgroup.com www.zumtobelgroup.com Q1-Q3 2024/25 results 20