Georg Fischer Ag · SIX:GF

Georg Fischer — FY2024 Earnings Presentation

41 slides from Georg Fischer's earnings presentation, Feb 26, 2025

Slide 2: 2024 Financial Year
Zurich, 26 February 2025 2024 Financial Year Andreas Müller, CEO | Mads Joergensen, CFO © GF v3.2
Slide 3: Highlights
GF Corporation Highlights Resilient business performance Strategic transformation underway Preview of Strategy 2030 ▪ Solid profitability despite market ▪ Integration of Uponor well on track ▪ Average organic growth 4 – 6% p.a. slowdown ▪ Strategic review of GF Casting ▪ EBITDA margin 16 – 18% by 20
Slide 4: Resilient performance amid challenging markets
GF Corporation Resilient performance amid challenging markets (in CHF) Sales EBITDA margin Dividend proposed 4.8 billion +18.6% -2.6% 12.9% comparable* 1.35 per share consolidated growth organic growth (2023: 12.7%) (2023: 1.30) EBIT margin Free cash flow Return on invested capital 9.4% 8.1% 184 mil
Slide 5: GF's transformation to become the global leader in Flow Solutions
GF Corporation GF’s transformation to become the global leader in Flow Solutions Sales per division Flow Solutions 19% 23% 30 – 40% 30 – 40% 2020 2024 40% 2030 CHF 3.2 bn 18% CHF 4.8 bn CHF 4.5 – 5 bn 54% 23% 23% 30 – 40% GF Piping Systems GF Building Flow Solutions GF Casting Solutions GF Machining
Slide 6: Flow Solutions: Strong position in attractive American markets; further diversified European presence
GF Corporation Flow Solutions: Strong position in attractive American markets; further diversified European presence Sales per region approximate (in CHF million) >+60% >+60% <-15% ~1’300 ~1’000 ~800 >+25% ~700 ~600 ~600 ~150 ~200 2023 2024 2023 2024 2023 2024 2023 2024 Americas Europe Rest of world
Slide 7: Key milestones reached in the integration of Uponor; synergies in line with increased ambition
GF Corporation Key milestones reached in the integration of Uponor; synergies in line with increased ambition … Expected annual run rate of Key milestones synergies until 2027 (in CHF million) 40 – 50 One procurement team on the fast track to realize savings 30 – 40 25 – 30 Focus on the business seg
Slide 8: … and operational footprint optimization well on track
GF Corporation … and operational footprint optimization well on track Consolidation of production in Poland ▪ Leverage low-cost environment for labor-intense production processes ▪ Consolidation of four locations into one production plant in Świebodzice (PL) ▪ CHF 3 million investment (net); SOP1 by
Slide 9: Leader in corporate sustainability
GF Corporation Leader in corporate sustainability Sales with social or environmental benefits as % of total GF sales 21% newly appointed 80 76 74 women managers 2 70 68 (Target 2025: 25%) 60 CO2e emissions Accident rate (Lost time injury frequency rate) Scope 1 and 2, in 1'000 tonnes per million hou
Slide 10: GF Piping Systems is demonstrating resilience in key segments
GF Piping Systems GF Piping Systems is demonstrating resilience in key segments (in CHF) Sales¹ EBIT margin¹ (comparable) 1‘971 -3.7% 12.7% 2 -9% million organic growth (2023: 13.3%) Microelectronics ▪ Temporary project delays impacting industry performance ▪ Significant growth in Marine and Cooling
Slide 11: GF with innovative solution to retrofit production plants – Scan to Fab
GF Piping Systems GF with innovative solution to retrofit production plants – Scan to Fab Before After Existing desalination plant – no plan of installation available 3D scan of customers’ current piping infrastructure Prefabricated solution – perfectly fits customer setup © GF v3.2 11 Zurich, 26 Fe
Slide 12: GF Piping Systems at the forefront of urban infrastructure
GF Piping Systems GF Piping Systems at the forefront of urban infrastructure +2.7 additional people to live in urban areas billion by 2050 compared to 2021 By underinvestment in water MULTI/JOINT® infrastructure will become a challenge 3000 Plus 2030 for urban areas GF expands innovative stormwater
Slide 13: GF Building Flow Solutions is showing resilience in stabilizing markets
GF Building Flow Solutions GF Building Flow Solutions is showing resilience in stabilizing markets (in CHF) Sales¹ EBIT margin¹ (comparable) Europe – Building activity confidence3 Central Europe Eastern Europe Nordics 1‘083 -6.7% 10.3% million organic growth2 ▪ Resilient profitability despite subdue
Slide 14: Driving commercial synergies in the commercial potable water market in the US
GF Building Flow Solutions Driving commercial synergies – increasing share in the commercial potable water market in the US Commercial water market demanding alternative materials offers high growth potential 1 GF is the sole provider of high- New adapter performance polymers Before After Innovative
Slide 15: GF Casting Solutions with robust profitability driven by growing Aerospace sector
GF Casting Solutions GF Casting Solutions with robust profitability driven by growing Aerospace sector (in CHF) Sales EBIT margin (comparable) 841 -5.6% 6.7% +19% 1 million organic growth (2023: 7.0%) Aerospace & Industrial Gas Turbines ▪ Ongoing accelerated demand in the Aerospace sector ▪ Light ve
Slide 16: GF Machining Solutions with good momentum in Aerospace and ICT
GF Machining Solutions GF Machining Solutions with good momentum in Aerospace and ICT (in CHF) Discontinued operations Order intake Sales EBIT margin (comparable) 1 848 885 +2.4% 5.9% +23% million million organic growth (2023: 6.8%) Aerospace ▪ Strong execution on orders in the Aerospace and Energy
Slide 17: Consolidated financial statements
Consolidated financial statements Mads Joergensen, CFO © GF v3.2 17 Zurich, 26 February 2025 | 2024 Financial Year | Analyst and Media Conference
Slide 18: Net sales
GF Corporation Net sales (CHF million) Organic -2.6% -3.7% 4’776 2’066 1’971 Full year 4’026 organic growth -6.7% +1.0% -5.6% +2.4% 1’083 910 887 885 841 164 2 months (Nov–Dec) 2023 2024 2023 2024 2023 2024 2023 2024 2023 2024 GF Corporation GF Piping Systems GF Building Flow Solutions GF Casting So
Slide 19: Net sales bridge
GF Corporation Net sales bridge (CHF million) +983 4’776 4’026 -105 -128 Uponor +920 Corys +63 2023 Organic Currencies Acquisitions 2024 © GF v3.2 19 Zurich, 26 February 2025 | 2024 Financial Year | Analyst and Media Conference
Slide 20: Income statement
GF Corporation Income statement (CHF million) Continuing Discontinued 2024 Continuing Discontinued 2023  operations operations operations operations Net sales 3’892 885 4’776 3’139 887 4’026 +19% Gross value added 1’538 354 1’892 1’235 362 1’597 +18% Personnel expenses -1’044 -288 -1’332 -824 -287
Slide 21: EBIT margin (comparable)
GF Corporation EBIT margin (comparable) (in %) Strategic objectives 2025 13 – 15% 13.3 12.7 10 – 12% 10.3 9.7 9 – 11% 9.4 8 – 10% 6.9 7.0 6.7 6.8 5.9 2 months (Nov–Dec) 2023 2024 2023 2024 2023 2024 2023 2024 2023 2024 GF Corporation GF Piping Systems GF Building Flow Solutions GF Casting Solutions
Slide 22: Items affecting comparability
GF Corporation Items affecting comparability (CHF million) 4 449 31 12 14 389 Σ60 EBIT reported Purchase Price Value Creation Performance Other EBIT (comparable) Allocation (PPA) Program (VCP) Improvement Program (PIP) © GF v3.2 22 Zurich, 26 February 2025 | 2024 Financial Year | Analyst and Media C
Slide 23: EBITDA bridge
GF Corporation EBITDA bridge (CHF million) EBITDA margin 12.1% 12.7% 12.9% 11.7% +138 618 -58 560 511 -1 -30 486 PPA -14 VCP -12 PIP -29 Other -4 2023 2023 Organic Currencies Acquisitions 2024 IAC* 2024 reported comparable comparable reported *IAC: items affecting comparability; CHF 2 million not EB
Slide 24: Currency effects on sales and EBIT in 2024
GF Corporation Currency effects on sales and EBIT in 2024 (CHF million) Per division: Sales EBIT Per currency: Rates Sales EBIT 2023 2024 Change 0.972 0.953 -2.0% GF Piping Systems -82.5 -20.2 EUR -18.9 -5.0 0.899 0.880 -2.1% GF Building Flow Solutions -2.2 -0.2 USD -0.3 -13.4 0.127 0.122 -3.7% GF C
Slide 25: Balance sheet: assets
GF Corporation Balance sheet: assets (CHF million) 2024 % 2023 % Cash and cash equivalents 681 566 Trade accounts receivable 792 814 Inventories 939 979 Other current assets 189 170 Non-current assets of discontinued operations 130 Current assets 2’732 64 2’530 61 Property, plant, and equipment 1’25
Slide 26: Balance sheet: liabilities and equity
GF Corporation Balance sheet: liabilities and equity (CHF million) 2024 % 2023 % Current liabilities 1’461 1’464 Bonds 1’274 625 Other financial liabilities 1’112 1’720 Other non-current liabilities 269 287 Non-current liabilities 2’655 2’632 Liabilities 4’116 96 4’097 99 Shareholders’ equity 109 -4
Slide 27: Free cash flow
GF Corporation Free cash flow (CHF million) 2024 2023 EBITDA 560 486 Changes in A/R, inventory and A/P 71 19 Changes in other net working capital -16 -1 Interest paid -93 -22 Income taxes paid -122 -81 Other changes -7 -63 Cash flow from operating activities 393 338 Additions to property, plant, and
Slide 28: Expected reduction of transaction related interest expense in 2025
GF Corporation Expected reduction of transaction related interest expense in 2025 (CHF million) Assumptions: 55 ▪ Closing of GF Machining Solutions divestment end of Q1 2025 -8 ▪ 2025 bonds placed end of Q2 at ~1.5% ▪ GF Casting Solutions divestment closed post 2025 -18 -4 25 Σ-30 Replacing Replacin
Slide 29: Key figures at a glance
GF Corporation Key figures at a glance 2024 2023 Net debt in CHF million 1’892 1’879 Net debt / EBITDA (multiple) 3.4x 3.9x1 Equity ratio in % 3.9 0.5 ROIC (comparable) in % GF Corporation 19.9 21.5 GF Piping Systems 26.5 31.1 GF Building Flow Solutions 22.5 n/a GF Casting Solutions 15.8 17.6 GF Mac
Slide 30: Board proposes dividend of CHF 1.35 for the financial year 2024
GF Corporation Board proposes dividend of CHF 1.35 for the financial year 2024 2024 2023 Net profit shareholders GF in CHF million 214 235 Earnings per share in CHF 2.61 2.87 Proposed / Approved dividend in CHF million 111 107 Proposed / Approved dividend per share in CHF 1.35 1.30 Pay-out ratio in
Slide 31: Outlook 2025
Outlook 2025 Andreas Müller, CEO © GF v3.2 31 Zurich, 26 February 2025 | 2024 Financial Year | Analyst and Media Conference
Slide 32: 2025 – a year of transition for GF
GF Corporation 2025 – a year of transition for GF 2025 Outlook for GF’s Flow Solutions business Industry Infrastructure Buildings ▪ Positive momentum in North America ▪ Continuing positive momentum in ▪ Innovations driving business supported by strong reshoring trends Eastern Europe activities ▪ Sta
Slide 33: The new GF
The new GF © GF v3.2 33 Zurich, 26 February 2025 | 2024 Financial Year | Analyst and Media Conference
Slide 34: GF Flow Solutions: One company – three business areas
GF Corporation GF Flow Solutions: One company – three business areas Buildings Industry Infrastructure © GF v3.2 34 Zurich, 26 February 2025 | 2024 Financial Year | Analyst and Media Conference
Slide 35: A common denominator: Excellence in Flow
GF Corporation A common denominator: Excellence in Flow Ensure process quality Offer solutions & services Leakage free Easy installation and low maintenance © GF v3.2 35 Zurich, 26 February 2025 | 2024 Financial Year | Analyst and Media Conference
Slide 36: Our Strategy 2030 has a clear focus on our end markets
GF Corporation Our Strategy 2030 has a clear focus on our end markets … Sales EBITDA margin Maximize the core business CHF billion 4.5 – 5.0 16 – 18% Grow with new opportunities incl. 0.5 – 1 bn acquisitions EBIT margin: 13 – 15% FCF / EBITDA conversion Return on invested capital Lead with innovativ
Slide 37: … and will be reflected in our future organization
GF Corporation … and will be reflected in our future organization GF Corporation CEO CFO Division Industry and Infrastructure Flow Solutions Division Building Flow Solutions President President Corporate-wide aligned processes and governance Sales effectiveness and Key account management Innovation
Slide 38: Our vision: GF is the global leader in Flow Solutions
GF Corporation Our vision GF is the global leader in Flow Solutions © GF v3.2 38 Zurich, 26 February 2025 | 2024 Financial Year | Analyst and Media Conference
Slide 39: Our purpose: Becoming better every day – since 1802
GF Corporation Our purpose Becoming better every day – since 1802 © GF v3.2 39 Zurich, 26 February 2025 | 2024 Financial Year | Analyst and Media Conference
Slide 41: Disclaimer
Disclaimer This document is for presentation purposes only and should not be construed as an offer, invitation or solicitation to subscribe for, purchase or sell any investment. Neither this document nor anything it contains shall form the basis of any promise or contract whatsoever. Opinions expres

Georg Fischer AG (GF) — FY2024 Earnings Presentation on 6ix

Georg Fischer — FY2024 Earnings Presentation

Slide 1: Welcome

Slide 2: 2024 Financial Year

Slide 3: Highlights

Slide 4: Resilient performance amid challenging markets

Slide 5: GF's transformation to become the global leader in Flow Solutions

Slide 6: Flow Solutions: Strong position in attractive American markets; further diversified European presence

Slide 7: Key milestones reached in the integration of Uponor; synergies in line with increased ambition

Slide 8: … and operational footprint optimization well on track

Slide 9: Leader in corporate sustainability

Slide 10: GF Piping Systems is demonstrating resilience in key segments

Slide 11: GF with innovative solution to retrofit production plants – Scan to Fab

Slide 12: GF Piping Systems at the forefront of urban infrastructure

Slide 13: GF Building Flow Solutions is showing resilience in stabilizing markets

Slide 14: Driving commercial synergies in the commercial potable water market in the US

Slide 15: GF Casting Solutions with robust profitability driven by growing Aerospace sector

Slide 16: GF Machining Solutions with good momentum in Aerospace and ICT

Slide 17: Consolidated financial statements

Slide 18: Net sales

Slide 19: Net sales bridge

Slide 20: Income statement

Slide 21: EBIT margin (comparable)

Slide 22: Items affecting comparability

Slide 23: EBITDA bridge

Slide 24: Currency effects on sales and EBIT in 2024

Slide 25: Balance sheet: assets

Slide 26: Balance sheet: liabilities and equity

Slide 27: Free cash flow

Slide 28: Expected reduction of transaction related interest expense in 2025

Slide 29: Key figures at a glance

Slide 30: Board proposes dividend of CHF 1.35 for the financial year 2024

Slide 31: Outlook 2025

Slide 32: 2025 – a year of transition for GF

Slide 33: The new GF

Slide 34: GF Flow Solutions: One company – three business areas

Slide 35: A common denominator: Excellence in Flow

Slide 36: Our Strategy 2030 has a clear focus on our end markets

Slide 37: … and will be reflected in our future organization

Slide 38: Our vision: GF is the global leader in Flow Solutions

Slide 39: Our purpose: Becoming better every day – since 1802

Slide 40: Q&A

Slide 41: Disclaimer