Aebi Schmidt Holding Ag · NASDAQ:AEBI
Aebi Schmidt — Q2 2025 Earnings Presentation
36 slides from Aebi Schmidt's earnings presentation, Aug 14, 2025
Slide 1: Q2 2025 Earnings Call
Q2 2025 Earnings Call August 14, 2025 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains information, including our sales and earnings guidance, all other information provided with respect to our outlook for 2025 and future periods, and other statements concerning our business, strategic position, financial projections, financial str
Slide 3: Financial materials and basis of presentation
Financial materials and basis of presentation Aebi Schmidt Group merged with The Shyft Group as of July 1, 2025 Materials filed today Form 10-Q filed for pre-merger, standalone Aebi Schmidt Group for the second quarter of 2025 Form 8-K/A with pro-forma financials of the combined Group for the fi
Slide 4: Presenters and Agenda
Presenters and Agenda Presenters Agenda 1 Highlights & Company Overview - Barend Fruithof 2 North America Overview - Steffen Schewerda Barend Fruithof Marco Portmann Group CEO Group CFO 3 Europe and Rest of World Overview - Henning Schröder 4 Financial Overview - Marco Portmann 5 Concluding Remarks
Slide 5: Highlights & Company Overview
Highlights & Company Overview Barend Fruithof, Group CEO Q2 2025 Earnings Call August 14th, 2025 | Aebi Schmidt Group
Slide 6: Strong achievements across markets, operations and merger execution
Strong achievements across markets, operations and merger execution, positioning the new combined Aebi Schmidt Group for significant growth • Landmark deals with record award of $56m from Minneapolis airport in North America and €41m from Rijkswaterstaat (NL) in Europe • Strong momentum in Europe, w
Slide 7: Aebi Schmidt Group is the trusted global partner in specialty vehicles
Aebi Schmidt Group is the trusted global partner delivering intelligent, cutting-edge solutions in targeted markets of the specialty vehicles industry Direct presence in 17 16 production $1.9b sales in 2024 ~6,000 employees countries; dealer facilities partnerships in 90+ more 5 markets in 2 segment
Slide 8: Commanding leadership positions across all end markets and segments
Commanding leadership positions across all end markets and segments, which remain key targets for Aebi Schmidt's continued growth Airport & Chassis Commercial trucks Goods transport Municipal Agriculture Market North EU/ROW Trucks Trailers Walk-In Truck Body Street Snow & Ice EU/ROW TAM1 America Van
Slide 9: Well-positioned to accelerate growth toward a $3 billion+ company
Aebi Schmidt is well-positioned to accelerate growth toward becoming a $3 billion+ company, leveraging its unique strengths Scale and presence Customer centricity Merger execution excellence • Scaled-up global specialty vehicles leader • Expanded portfolio, shared innovation, • Annual run-rate syner
Slide 10: Strong track record of successful M&A integration
Strong track record of successful M&A integration; Driving integration of recently closed Shyft merger and tuck-in acquisitions Combined company revenue growth ($m) Current M&A integration update $1,872 $1,499 • Kicked off 14 integration $786 workstreams led by project management organization $1,005
Slide 11: Targeted synergies fully confirmed and in execution with significant upside
Targeted synergies fully confirmed and in execution with significant upside Merger synergies ($m) 2 to 7 35 to 40 Dedicated and experienced project team executing 33 integration since day 1 25 to 30 Targeted synergies of $25 to $30m fully confirmed and in execution Synergies upside of up to $1
Slide 12: North America Overview
North America Overview Steffen Schewerda, CEO North America Q2 2025 Earnings Call August 14th, 2025 | Aebi Schmidt Group
Slide 13: North America commands product leadership through direct customer access
North America commands product leadership through direct customer access, nationwide presence, and unmatched quality across all end markets Overview Brands and main products by end market Airport & Chassis Commercial truck Goods transport Municipal • Covering U.S. and Canada • $1.4b in Sales in 2024
Slide 14: Strengthened North America platform with nationwide reach
Strengthened North America platform with nationwide reach and further expansion potential Combined value proposition Operational footprint Improved geographical presence reaching major population centers and high growth regions Accelerates opportunities with customers to provide national coverage an
Slide 15: Increased customer focus will improve sales execution and market share
Increased customer focus will improve sales execution and market share How will we 01 02 03 improve commercial Sales Teams Sales Teams Execution Sales Executives Monitoring Empowerment and Steering operations? - Ensure salespeople are - Set clear individual sales goals - Monitor sales activities and
Slide 16: Highly attractive North America platform for future investment
Highly attractive North America platform for future investment, growth, and profitability Market Leadership in High-Growth Sectors 01. Leading player and active consolidator in sectors with high growth potential, particularly in Commercial Trucks. Proven M&A Integration Playbook 02. Successful track
Slide 17: Europe and Rest of World Overview
Europe and Rest of World Overview Henning Schröder, CEO Europe and Rest of World Q2 2025 Earnings Call August 14th, 2025 | Aebi Schmidt Group
Slide 18: Europe and RoW commands product leadership through customer access
Europe and RoW commands product leadership through customer access, global distribution, and scalable production across all end markets Overview Brands and main products by end market Airport & Chassis Municipal Agriculture • Covering Europe and RoW through direct sales in 12 EU countries and dealer
Slide 19: European production footprint and sales structure
European production footprint and sales structure are critical to sustaining and accelerating growth Footprint Production overview Sales overview Sales Organization & Management Holten (NL) Operate in four regions: International (RoW), Southern Europe, Northern Europe, Winter municipal products (e.g
Slide 20: Europe and RoW is a highly attractive platform
Europe and RoW is a highly attractive platform for future investment, growth, and profitability Strong and Stable European Core Business 01. Established, cash-generating business, continues to grow above GDP levels—with leading market position that reinforces long- term value. Clear Growth Path in E
Slide 21: Financial Overview
Financial Overview Marco Portmann, Group CFO Q2 2025 Earnings Call August 14th, 2025 | Aebi Schmidt Group
Slide 22: Legacy Aebi Schmidt on track despite one-offs; Legacy Shyft strong profitability
Legacy Aebi Schmidt on track despite one-offs, with very strong backlog Legacy Shyft Group with strong profitability, countering lagging sales Legacy “Aebi Schmidt” – Second Quarter Legacy “The Shyft Group” – Second Quarter Sales Q2 2025 of $278m, up $11m or 4% vs. prior year Sales Q2 2025 of $1
Slide 23: Combined first half-year results provide strong foundation
Combined first half-year results of new Aebi Schmidt Group provide strong foundation for future growth and improved profitability Sales ($m) Order backlog ($m) Combined company commentary1 – Half Year -1.0% 1,068 Sales H1 2025 of $907m, down $8m or 0.9% vs. prior year 916 907 235 Adj. EBITDA of
Slide 24: Substantial deleveraging until year-end 2026 targeted
Substantial deleveraging until year-end 2026 targeted, to maintain flexibility for “tuck-in” acquisitions and enable competitive dividend Net Working Capital ($m) Combined company commentary2 +12.5% Net Working Capital (NWC) 465 NWC structurally highest during summer, driven by seasonality in wint
Slide 25: Outlook and pro-forma market guidance for Full-Year 2025
Outlook and pro-forma market guidance for Full-Year 2025 Pro-forma guidance1 Combined company commentary1 Strong market momentum Sales Expecting continued strong order momentum and improving margins in Europe and RoW vs. prior half-year $1.85 to $2.0b Robust order intake in North America, includ
Slide 26: Concluding Remarks
Concluding Remarks Barend Fruithof, Group CEO Q2 2025 Earnings Call August 14th, 2025 | Aebi Schmidt Group
Slide 27: Strategic vision to create a premier specialty vehicles leader
Strategic vision to create a premier specialty vehicles leader with pro-forma revenues of $3b+ and mid-teens adjusted EBITDA margin is well on track Merger integration progressing very well after 45 days with the team immediately unlocking value Financial results, including $1.1b backlog, provid
Slide 28: Thank you for your time and interest!
Thank you for your time and interest! Disclaimer: The information and materials in this document (the “Materials”) have been prepared by Aebi Schmidt Group (hereinafter «ASG») for information and discussion purposes only. While ASG believes that all information in the Materials is materially accurat
Slide 29: Appendix: Supplemental Financial Information
Appendix: Supplemental Financial Information Q2 2025 Earnings Call August 14th, 2025 | Aebi Schmidt Group
Slide 30: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Non-GAAP Financial Measures To supplement its reporting of financial measures determined in accordance with generally accepted accounting principles in the United States ("GAAP"), Aebi Schmidt utilizes certain non-GAAP financial measures. Aebi Schmidt ut
Slide 31: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Aebi Schmidt Group and Shyft Group Combined Financial Summary (Non-GAAP) (in thousands) (Unaudited) Aebi Schmidt Group Shyft Group Combined Aebi Schmidt + Shyft 2Q 2025 2Q 2025 2Q 2025 Net loss $(2,322) $(5,573) $(7,895) Add (subtract): Interest expense
Slide 32: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Aebi Schmidt Group and Shyft Group Combined Financial Summary (Non-GAAP) (in thousands) (Unaudited) Aebi Schmidt Group Shyft Group Combined Aebi Schmidt + Shyft 2Q 2024 2Q 2024 2Q 2024 Net income $8,187 $2,164 $10,351 Add (subtract): Interest expense 8,4
Slide 33: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Aebi Schmidt Group and Shyft Group Combined Financial Summary (Non-GAAP) (in thousands) (Unaudited) Aebi Schmidt Group Shyft Group Combined Aebi Schmidt + Shyft 1H 2025 1H 2025 1H 2025 Net loss ($260) ($7,009) ($7,269) Add (subtract): Interest expense 15
Slide 34: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Aebi Schmidt Group and Shyft Group Combined Financial Summary (Non-GAAP) (in thousands) (Unaudited) Aebi Schmidt Group Shyft Group Combined Aebi Schmidt + Shyft 1H 2024 1H 2024 1H 2024 Net income (loss) $16,934 ($2,505) $14,429 Add (subtract): Interest e
Slide 35: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Aebi Schmidt Group and Shyft Group Combined Financial Summary (Non-GAAP) (in thousands) (Unaudited) As of June 30, 2025 Aebi Schmidt Group Shyft Group Combined Aebi Schmidt + Shyft Current portion of long-term debt 26,973 337 27,310 Long-term debt, less
Slide 36: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Aebi Schmidt Group and Shyft Group Combined Financial Summary (Non-GAAP) (in thousands) (Unaudited) As of December 31, 2024 Aebi Schmidt Group Shyft Group Combined Aebi Schmidt + Shyft Current portion of long-term debt 23,259 235 23,494 Long-term debt, l