Also Holding Ag · SIX:ALSN

Also — H1 2024 Earnings Presentation

22 slides from Also's earnings presentation, 2024

1. Slide 1: Interim Report 2024

   Interim Report 2024

2. Slide 2: Executive Summary

   ALSO INTERIM REPORT 2024 Executive Summary 2 EXECUTIVE SUMMARY ALSO confirms targets for 2024 based on H1 results ■ Short-term EBITDA target of 265 to 305 million euros ■ Short-term ROCE target above 25 percent ■ H1 operating EBITDA of 106 million euros (2.1% EBITDA margin) ■ H1 cloud revenues of 66

3. Slide 3: Executive Summary (continued)

   ALSO INTERIM REPORT 2024 Executive Summary 3 The company achieved a cash position of 643 million euros (+31 million euros) with a free cash flow of 173 million euros. Therefore, ALSO is in an excellent position to capitalize on additional market opportunities. The targets for 2024 are confirmed due

4. Slide 4: Condensed consolidated income statement

   ALSO INTERIM REPORT 2024 Condensed interim consolidated financial statements 4 CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS as of June 30, 2024 (unaudited) Condensed consolidated income statement € 1 000 1st half 2024 1st half 2023 Change Total net sales 4 279 305 100.0 % 4 829 162 100.0 % –

5. Slide 5: Condensed consolidated statement of comprehensive income

   ALSO INTERIM REPORT 2024 Condensed interim consolidated financial statements 5 Condensed consolidated statement of comprehensive income € 1 000 1st half 2024 1st half 2023 Net profit recognized in the consolidated income statement 41 638 52 686 ITEMS THAT WILL NOT BE RECLASSIFIED SUBSEQUENTLY TO PRO

6. Slide 6: Condensed consolidated statement of financial position

   ALSO INTERIM REPORT 2024 Condensed interim consolidated financial statements 6 Condensed consolidated statement of financial position € 1 000 06.30.2024 12.31.2023 Cash and cash equivalents 642 808 665 369 Trade receivables 565 439 722 066 Inventories 819 842 767 194 Other current assets 590 043 611

7. Slide 7: Condensed consolidated statement of changes in equity

   ALSO INTERIM REPORT 2024 Condensed interim consolidated financial statements 7 Condensed consolidated statement of changes in equity Equity attributable Non-controlling € 1 000 Share capital Treasury shares Other reserves 1 Retained earnings to shareholders interests Total January 1, 2024 9 960 – 10

8. Slide 8: Condensed consolidated statement of cash flows

   ALSO INTERIM REPORT 2024 Condensed interim consolidated financial statements 8 Condensed consolidated statement of cash flows € 1 000 1st half 2024 1st half 2023 Net profit Group 41 638 52 686 Depreciation and amortization 21 134 22 372 Change in provisions and employee benefits 1 751 – 690 Other no

9. Slide 9: Notes to the condensed interim consolidated financial statements

   ALSO INTERIM REPORT 2024 Notes to the condensed interim consolidated financial statements 9 NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS as of June 30, 2024 (unaudited) CORPORATE INFORMATION BASIS OF PREPARATION ALSO was founded in 1984 and has evolved into one of the leading The

10. Slide 10: Changes in the scope of the consolidation

    ALSO INTERIM REPORT 2024 Notes to the condensed interim consolidated financial statements 10 As from January 1, 2024, ALSO adopted the following amended standards CHANGES IN THE SCOPE OF for the first time: THE CONSOLIDATION ■ Classification of liabilities as current or non-current The following com

11. Slide 11: Business combinations: Acquisition of Target

    ALSO INTERIM REPORT 2024 Notes to the condensed interim consolidated financial statements 11 BUSINESS COMBINATIONS Fair values at the date of acquisition € 1 000 Target Acquisition of Target CURRENT ASSETS Cash and cash equivalents 130 On January 10, 2024, the ALSO Group acquired 100% of the partner

12. Slide 12: Segment information

    ALSO INTERIM REPORT 2024 Notes to the condensed interim consolidated financial statements 12 Payment of retention amount ALSO Portugal In the first half of 2024, part of the retention amount of T€ 1 000 for the acquisition of ALSO Portugal was paid. In previous year, an amount of T€ 1 712 was paid.

13. Slide 13: Disaggregated net sales and related party transactions

    ALSO INTERIM REPORT 2024 Notes to the condensed interim consolidated financial statements 13 DISAGGREGATED NET SALES TRANSACTIONS WITH ­RELATED ­PARTIES € 1 000 1st half 2024 1st half 2023 Change € 1 000 1st half 2024 1st half 2023 Total net sales 4 279 305 4 829 162 – 11.4 % thereof Supply 2 771 61

14. Slide 14: Other reserves

    ALSO INTERIM REPORT 2024 Notes to the condensed interim consolidated financial statements 14 OTHER RESERVES Remeasurement of defined € 1 000 Cash flow hedge reserve Exchange differences benefit plans Total other reserves January 1, 2024 18 396 9 903 1 460 29 759 Net profit Group – – – – Other compre

15. Slide 15: Financial instruments

    ALSO INTERIM REPORT 2024 Notes to the condensed interim consolidated financial statements 15 FINANCIAL INSTRUMENTS Fair value of the financial instruments Fair value Fair value € 1 000 Level 1 Level 2 Level 3 06.30.2024 Level 1 Level 2 Level 3 12.31.2023 FINANCIAL ASSETS Current derivative financial

16. Slide 16: Seasonality

    ALSO INTERIM REPORT 2024 Notes to the condensed interim consolidated financial statements 16 Reconciliation of financial instruments within Level 3 Measurement techniques of financial instruments € 1 000 1st half 2024 2023 within Level 2 and 3 January 1 – 2 800 – 263 Forward exchange contracts are m

17. Slide 17: Income taxes, distributions to shareholders, Pillar Two

    ALSO INTERIM REPORT 2024 Notes to the condensed interim consolidated financial statements 17 INCOME TAXES DISTRIBUTIONS TO SHAREHOLDERS Income tax expense is recognized based on an estimate of the income tax At the General Meeting held on March 21, 2024, the shareholders of ALSO rate expected for th

18. Slide 18: Alternative Performance Measures

    ALSO INTERIM REPORT 2024 Alternative Performance Measures 18 ALTERNATIVE PERFORMANCE MEASURES This report contains certain Alternative Performance Measures which are not accounting measures as defined by IFRS. These measures should not be used instead of the IFRS-based consolidated financial stateme

19. Slide 19: EBITDA and net financial debt without IFRS 16 effect

    ALSO INTERIM REPORT 2024 Alternative Performance Measures 19 EBITDA WITHOUT EFFECT NET FINANCIAL DEBT WITHOUT DUE TO IFRS 16 LEASES EFFECT DUE TO IFRS 16 LEASES EBITDA is impacted by the adoption of IFRS 16. Since January 1, 2019, NFD = c urrent financial liabilities + non–current financial liabilit

20. Slide 20: Foreign currency effect and return on capital employed (ROCE)

    ALSO INTERIM REPORT 2024 Alternative Performance Measures 20 FOREIGN CURRENCY EFFECT RETURN ON CAPITAL EMPLOYED (ROCE) The foreign currency effect results from the following circumstances: Net profit Group + Financial expense – Financial income ■ The foreign currency effect on total net sales: The s

21. Slide 21: Imprint

    ALSO INTERIM REPORT 2024 Imprint 21 IMPRINT For further information please contact ALSO Holding AG Meierhofstrasse 5 CH-6032 Emmen Tel. +41 41 266 18 00 WWW.ALSO.COM The original German language version is binding. Editing/Concept and Text ALSO Holding AG, Emmen, Switzerland

22. Slide 22: ALSO Holding AG contact details

    ALSO Holding AG Meierhofstrasse 5 CH-6032 Emmen Tel.: +41 41 266 18 00 For further information: www.also.com

ALSO Holding — H1 2024 Earnings Presentation on 6ix