Cabka N.v. · EURONEXT:CABKA
Cabka — H1 2025 Earnings Presentation
20 slides from Cabka's earnings presentation, Aug 12, 2025
Slide 1: Cabka Half Year 2025
Cabka Half Year 2025 Results on Track: Delivering on Key Milestones with Improved Visibility for H2
Slide 2: Disclaimer
Disclaimer No representation, warranty or undertaking is given as to the accuracy or completeness of the information or opinions contained in this document by any of Cabka N.V., its representatives, founders or employees and no liability is accepted by such persons for the accuracy and completeness
Slide 3: Highlights, HY 2025 Financials, Outlook, Q&A
_ Highlights of HY 2025 and ~ operational progress — Alexander Masharov = 02 HY 2025 Financials — ~~ Frank Roerink ) Outlook & ~ Financial calendar in Q&A 3 Cabka N.V. | Unaudited Results Webcast Presentation | 12 August 2025
Slide 4: Alexander Masharov, Chief Executive Officer
4 Alexander Masharov Chief Executive Officer Cabka N.V. | Unaudited Results Webcast Presentation | 12 August 2025 “Cabka delivered solid progress in H1 2025, with improving commercial momentum, SHIFT-driven efficiencies, and growing confidence in full-year guidance.” Alexander Masharov
Slide 5: HY 2025 Highlights
Cabka N.V. | Unaudited Results Webcast Presentation | 12 August 2025 HY 2025 Highlights Sales € 90.0m or -2% vs HY 2024 Volatile European market, clear improvement in the US Early signs of improved commercial momentum Gross Operating margin improved by 220 bps to 51.7% Turnaround strategy implemente
Slide 6: Operational progress in H1 2025
Operational progress in H1 2025 Utilization developing positively © Europe clients hesitant with some bright spots > Lower Portfolio, tough comparison base (-15%) > Contract Manufacturing bright spot (+24%) » Capacity utilization continues to develop favorably © US recovery gaining traction > Reorga
Slide 7: Frank Roerink, Chief Financial Officer
“Frank has been instrumental in Cabka’s evolution to a listed company. We would like to express our gratitude for his contribution” Alexander Masharov Frank Roerink Chief Financial Officer 7 Cabka N.V. | Unaudited Results Webcast Presentation | 12 August 2025
Slide 8: Introducing our new CFO
Introducing our new CFO “We're pleased to welcome Mark Letterie as our new CFO, joining Cabka in September from Vinmar, where he served as Finance Director and Group Controller’ Mark Letterie Chief Financial Officer 8 — Cabka N.V. | Unaudited Results Webcast Presentation | 12 August 2025
Slide 9: H1 2025 financial results
o> Cabka H1 2025 financial results
Slide 10: Half-year 2025 financials at a glance
Half-year 2025 financials at a glance Revenues Net Debt Operating Capex investments expenses (in € million) (in€ million) (in € million) (in € million) 2024HY 2025HY 2025HY 2024HY 2025HY 2024HY 2025HY Cabka N.V. | Unaudited Results Webcast Presentation | 12 August 2025
Slide 11: European Product segments
European Product segments 8% Lower in European Product segments resulting from Market Volatility Portfolio Customized solutions ECO Contract manufacturing in € millon in€ million in € millon in € millon 40.5 15.9 15.7 13.3 14.2 1.1 34.4 24HY 25HY 24HY 25HY 24HY 25HY 24HY 25HY Portfolio Customized So
Slide 12: US Product segments
US Product segments 9% Growth underscores Commercial Success Portfolio Customized solutions Contract manufacturing in € million in € millon in € millon 10.3 10.0 1.6 0.4 0.8 0.0 24HY 25HY 24HY 25HY 24HY 25HY Portfolio Customized Solutions Contract Manufacturing > Driven by aggressive > Revenue resul
Slide 13: Operational Results for HY 2025
Operational Results for HY 2025 Sales Other operating income items Total Operating Income Expenses for materials, energy and purchased services Gross Profit Operating expenses Operational EBITDA Depreciation, amortization and impairment of intangible and tangible fixed assets EBIT /Operating Income
Slide 14: Net Debt development
Net Debt development ° Cash flow from operating activities | € 0.2m > € 9.1m operational EBITDA » €-2.2m non-cash adjustments » €-0.5m income taxes paid » €-6.7m Working Capital movement © Cash flow used in investing activities | € -1.4m » €-5.3m related to Capex investments » €-0.1m intangible asse
Slide 15: Net Working Capital
Net Working Capital Inventories 30.4 36.2 35.7 Trade receivables 22.6 19.5 31.9 Received prepayments - (0.2) (1.7) Trade payables (24.4) (29.2) (27.3) Hl Working capital Total Net Working Capital 28.6 265 38.6 MM % of sales % Sales LTM 15.7% 14.6% 19.6% 2024HY 2024FY 2025HY Net Working Capital | € 2
Slide 16: CAPEX Investments for HY 2025
CAPEX Investments for HY 2025 Replacement & Maintenance 27 5.8 Expansion & Automation (mould & machines) 2.0 2.4 ECO business 07 rr 23% 2.9% Others - - Total Capital expenditures 5.4 9.3 2022HY 2023HY 2024HY 2025HY Capital Expenditures | € 5.4 © Total CAPEX investments for H1 2025 compared to prior
Slide 17: Financial Calendar 2025
Financial Calendar 2025 @ ‘\ Extraordinary General Meeting 2025 _ Trading Update 202503 ) Capital Markets Update 17 Cabka N.V. | Unaudited Results Webcast Presentation | 12 August 2025
Slide 18: Full year 2025 Outlook
18 Full year 2025 Outlook Cabka NV. | Unaudited Results Webcast Presentation | 12 August 2025 Performance on Track HY 2025 progressed in line with expectations, reinforcing confidence in delivering on our FY results Guidance Reiterated Sales and EBITDA at least in line with 2024 Shift Program Impact
Slide 19: Cabka N.V. |
Cabka N.V. | Unaudited Results Webcast Presentation | 12 August 2025
Slide 20: investors.cabka.com
ir@cabka.com investors.cabka.com