Somero Enterprises, Inc. · LSE:SOM
Somero Enterprises — FY2025 Earnings Presentation
39 slides from Somero Enterprises's earnings presentation, Mar 9, 2026
Slide 1: 2025 Results Presentation
2025 RESULTS PRESENTATION 1986 - 2026 1
Slide 2: Agenda
AGENDA Tim Averkamp Welcome & Opening Remarks Chief Executive Officer & Director 2025 Results 30+ yrs. in International Industrial Manufacturing, Construction Machinery, and Innovation Outlook BS Mechanical Engineering Masters Business Administration Strategic Plan Update Questions Vincenzo (Enzo) L
Slide 3: Opening Remarks
OPENING REMARKS A Year of Continuity and Momentum Four decades of industry leadership Seamless CEO transition and Chairman appointment Deep engagement with key stakeholders Strategy actively driving execution 1986 2025 2026 3
Slide 4: Leadership/Governance
LEADERSHIP/GOVERNANCE Executive Leadership Non-Executive Board of Directors Chief Executive Officer & Director Chairman of the Board, Director Tim Averkamp Joined 2025 Robert Scheuer Chief Financial Officer, Secretary & Director Chair of the Remuneration Committee, Director Vincenzo (Enzo) LiCausi J
Slide 5: At a Glance: Customers in 90+ Countries
AT A GLANCE Who we are Somero pioneered the Laser Screed® machine providing industry-leading Customers in concrete-levelling equipment, training, education and support for 40 years 90+ Countries Global Headquarters Somero Concrete Institute Training Fort Myers, Florida, USA Founded 150+ LSE (AIM: SO
Slide 6: 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 7: Strong Financial Profile
STRONG FINANCIAL PROFILE • Premium brand Free • Healthy profits Gross • Low labor cost Atlantic Mine (Houghton), MI Cash • Modest working capital investment Margins • Low capital assembly operation • Inventory to support short order lead times • Flexible cost structure Flows • Tenured senior leaders
Slide 8: Products & Applications
PRODUCTS & APPLICATIONS RELEASE PRODUCT APPLICATION MARKET BOOMED SCREEDS: 2025 S-15EZ 2025 SRS-4e 25,000-50,000+ ft2 2024 SRS-6s placements SRS-4 SRS-4e SRS-6s 2022 S-PS50 warehouses, SLAB ON GRADE 2022 S-28EZ manufacturing CAST-IN-PLACE 2026 S-22EZ+ assembly plants, tilt- 2012 S-15R panel and S-28
Slide 9: 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 10: Key Messages
KEY MESSAGES 2025 Market & Performance - Challenging uneven market, stabilizing late - Soft H1, strong H2 performance (new product revenue and seasonality uplift) - Resilient execution protected margins, cash, and strategic investment Strategy in Action - Refreshed three-pillar strategy executing -
Slide 11: 2025 Highlights
2025 HIGHLIGHTS Strong end to 2025 as anticipated with Operating cashflow improvement trading performance for 2025 in line with revised market expectations Updated strategic framework: developed to guide the Company’s next phase of growth New and next generation products launched in 2025 collectivel
Slide 12: Market Update
MARKET UPDATE Uncertainty linked to macro factors slowed the market • US private nonresidential construction spending: Stabilizing toward end of 2025 ‘25 year-end US market indicators provide encouraging signs • The Architecture Billings Index (ABI): Fewer firms reported a decrease in billings Note
Slide 13: Financial Highlights
FINANCIAL HIGHLIGHTS US$ MILLIONS (EXCEPT PER SHARE DATA) 2025 2024 Commentary Revenue 88.9 109.2 Profitability decline attributable to overall decrease Adjusted EBITDA (1,2) 17.5 27.7 in sales across most territories and product lines Adjusted EBITDA margin (1,2) 20% 25% Profit margins impacted by
Slide 14: Regional Performance North America
Fort Myers, Florida, USA REGIONAL PERFORMANCE NORTH AMERICA US$ 68.1m in revenue in 2025 (2024: US$ 82.2m) H2 revenue up 14% on H1 Uncertainty linked to tariffs, interest rates and credit, labor shortages and restrictive immigration policies which impacted sales volumes across all product lines, but
Slide 15: Regional Performance Europe
Chesterfield, United Kingdom REGIONAL PERFORMANCE EUROPE US$ 8.9m in revenue in 2025 (2024: US$ 14.6m) H2 revenue up 55% on H1 Economic growth is weak but seems to be stabilizing and private investments remain cautious, which impacted Kampenhout, sales volumes across all product lines, but most Belg
Slide 16: Regional Performance Australia
REGIONAL PERFORMANCE AUSTRALIA US$ 5.6m in revenue in 2025 (2024: US$ 6.6m) H2 revenue up 58% on H1 Australia’s market declined 15% as it continues to normalizes to more sustainable levels after an initial uptake period, albeit the decline was less than the prior year Australia, 6% The territory has
Slide 17: Regional Performance Rest of World
REGIONAL PERFORMANCE REST OF WORLD US$ 6.3m in revenue in 2025 (2024: US$ 5.8m) H2 revenue up 66% on H1 ROW, 7% Middle East reported sales of US$ 2.2m, mostly Boomed screeds, compared to US$ 0.6m in 2024 Machine revenue from new customers represented 15% of the total ROW revenue in 2025 (2024: 30%)
Slide 18: Sales by Product
SALES BY PRODUCT US$ MILLIONS 2025 2024 Boomed screeds(1) 34.8 $ 43.1 Product mix is dictated by the size and type Ride-on screeds(2) 16.1 20.3 of projects Remanufactured machines 5.8 7.1 All products categories have been affected by 3-D Profiler System® 7.0 9.6 macro factors Parts and Service 17.0
Slide 19: Operating Results
OPERATING RESULTS US$ MILLIONS 2025 2024 Revenue $ 88.9 $ 109.2 Gross profit 46.2 58.8 Gross margin pressured by lower sales volumes; partially offset by workforce reductions Operating expenses: Selling, marketing & Operating expenses declined from prior driven by 13.4 14.7 customer support workforc
Slide 20: Financial Position
FINANCIAL POSITION DECEMBER DECEMBER US$ MILLIONS 31, 2025 31, 2024 Cash $ 33.2 $ 29.5 Cash increased from operating cash flow and Accounts receivable, net 7.0 9.3 customer deposits; partly offset by capex and dividends Inventory 21.0 18.9 Prepaid & other 3.2 3.7 Accounts receivable declined with lo
Slide 21: Cash Flows
CASH FLOWS US$ MILLIONS 2025 2024 $ 10.2 $ 18.6 Net income Net income declined due to lower revenue Adjustments to reconcile to cash 5.8 2.4 Increase in adjustment driven by deferred tax provided by operating activities asset charge and higher depreciation Net working capital changes 1.9 (3.4) Net c
Slide 22: 2025 Dividend
2025 DIVIDEND Ordinary Dividend: The dividend payout ratio is 50% of adjusted net income $m 11.1 Interim dividend: US$ 0.0400 per share 50% Final dividend: US$ 0.0624 per share 5.6 2.2 3.4 Adjusted 2025 Interim Final net income dividend payout payout Supplemental Dividend: • No supplemental dividend
Slide 23: 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 Somero 3.0 Innovate Shaping Excellence Advancing technolog
Slide 24: Inspire Our Future
INSPIRE OUR FUTURE Purpose Statement (Why we Exist): To shape a future where innovation and excellence lead the way Mission Statement (How we Achieve our Goals): We work hard to deliver world-class products and services because we are passionate about HELPING our Customers succeed Vision Statement (
Slide 25: Fortify. Innovate. Amplify.
FORTIFY. INNOVATE. AMPLIFY. Reinforcing the foundation of the business to ensure resilience, consistency, and operational discipline across cycles. Operational Excellence Somero Concrete Institute (SCI) – Europe Costs aligned to demand; core capabilities protected European SCI launched to extend U.S
Slide 26: Fortify. Innovate. Amplify.
FORTIFY. INNOVATE. AMPLIFY. Advancing technology and product development to expand our addressable market and reinforce category leadership. 2025 Product Development & Portfolio Expansion Electric Boomed Screed SRS-4e Next Generation S-15EZ Zero-emissions, full performance Advanced automation, preci
Slide 27: Fortify. Innovate. Amplify.
FORTIFY. INNOVATE. AMPLIFY. Advancing technology and product development to expand our addressable market and reinforce category leadership. 2025 Product Development & Portfolio Expansion Hammerhead Ride-on Screed Expands total addressable market Converts manual to mechanized Accelerates global cust
Slide 28: Fortify. Innovate. Amplify.
FORTIFY. INNOVATE. AMPLIFY. Advancing technology and product development to expand our addressable market and reinforce category leadership. 2025 Technology Development Virtual Reality Training Simulation Somero Experts App Telematics Offering Mobile, immersive operator training Digital manuals and
Slide 29: Fortify. Innovate. Amplify.
FORTIFY. INNOVATE. AMPLIFY. Advancing technology and product development to expand our addressable market and reinforce category leadership. 2026 Product Development & Portfolio Expansion Next Generation S-22EZ+ New Viper Walk-Behind Screed Flagship platform, automation (30+ new features) Compact, w
Slide 30: Fortify. Innovate. Amplify.
FORTIFY. INNOVATE. AMPLIFY. Expanding Somero’s reach, broadening market coverage, and deploying capital to drive long-term value creation. Commercial Expansion & Market Coverage Deepened market penetration through a more integrated commercial approach Expanded dealer coverage to improve customer pro
Slide 31: Fortify. Innovate. Amplify.
FORTIFY. INNOVATE. AMPLIFY. Expanding Somero’s reach, broadening market coverage, and deploying capital to drive long-term value creation. Capital Allocation Framework Mergers & Acquisitions Framework Formalized a clear capital allocation framework Disciplined M&A framework aligned to strategy Reinf
Slide 32: 2026 Outlook / Summary
2026 OUTLOOK / SUMMARY Disciplined Execution, Expanding Opportunity Disciplined execution through the cycle Late-2025 momentum carrying into 2026 Customers cautious amid macro uncertainty Financial Strategy Returns Strategy expanding customers and markets Sustainable Long-term non-residential fundam
Slide 33: Questions
QUESTIONS 33
Slide 34: Appendices
APPENDICES 1986 - 2026 34
Slide 35: 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. Since 2021, Somero has enhanced its on-demand and virtual training capabilities to meet our cu
Slide 36: 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 37: ESG in Action: Social
ESG IN ACTION: SOCIAL Harry Chapin Food Bank SW Florida (Spring & Fall 2025) ▪ Industry Support ▪ Charitable Donations ▪ Employee Volunteering ▪ PTO Employee Training ▪ Somero Concrete Institute Feeding America Upper Peninsula Houghton Area Food Drive (Fall 2025) BackPack Food Program (2025) 37
Slide 38: ESG in Action: Environmental
ESG IN ACTION: ENVIRONMENTAL Investments and actions to re- duce 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 tr
Slide 39: 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%