Montana Aerospace Ag · SIX:AERO
Montana Aerospace — Q3 2025 Earnings Presentation
12 slides from Montana Aerospace's earnings presentation, Nov 14, 2025
Slide 1: Montana Aerospace
A MONTANA AEROSP |
Slide 2: Speaking to you today
SPEAKING TO YOU TODAY A KAI ARNDT C0-CEO MICHAEL PISTAUER CO-CEO & CFO A A
Slide 3: Successful divestment of the Energy and E-mobility segments
Successful divestment of the Energy and E-mobility segments Streamlined operations and reduced leverage drive robust financial profile Numerous high-return opportunities to deploy growth capital in the aerospace market 3
Slide 4: Divestment transaction includes deferred cash payment contingent on milestones
The transaction includes a deferred cash payment in the mid-double-digit EUR million amount, contingent on certain milestones being achieved by ASTA Group (formerly the Energy segment). Montana Aerospace had planned to invest approx. €30 million in the ASTA Group in FY25 to support its expansion str
Slide 5: 9M 2025 financial results
in EURm 9M 2024 9M 2025 yoy change Net Sales 616.9 712.3 +15.5% EBITDA 87.8 113.0 +28.6% (EBITDA margin %) (14.2%) (15.9%) Result (cont. op.) -1.3 3.0 +4.3m CAPEX(1) -57.3 -62.3 -5.0m CAPEX (excl. Energy) -42.9 -40.4 +2.5m Net Debt 346.2 258.6 -87.7m Free Cash Flow -22.5 -48.4 -25.9m Free Cash Flow
Slide 6: Q3 2025 net sales and EBITDA
in EURm - In Q3 2025, Montana Aerospace generated EBITDA margin net sales of €248.4 million (+18.8% compared to Q3 2024) 15% 15% - Positive net sales development was +19% driven by organic growth, reflecting higher volumes on existing programs, 248.4 +17% market share gains and new business 209.0 wi
Slide 7: EBITDA and cash flow development by quarter
86.4 43.9 48.6 36.0 17.4 o/w Energy -5.4 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 144.1 19.8 26.0 -39.3 o/w -25.0 Energy -49.4 Q3 2024 Q4 2024(1) Q1 2025 Q2 2025 Q3 2025(2) Note(s): (General) The cash flow figures include the results of both the Energy and E-mobility segments; (1) Q4 2024 includes th
Slide 8: Net debt and leverage
% LTM Sales 24.1% 23.7% 25.1% 23.5% 34.7% 365.7 353.6 387.8 375.3 328.7 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 (x) LTM EBITDA 2.4x 1.3x 1.5x 1.3x 1.7x 346.2 252.5 237.6 258.6 210.9 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Note(s): (General) The historical balance sheet figures and ratios include the
Slide 9: Airbus and Boeing production rates
YTD 09/24 YTD 09/25 +2% A220 45 62 488 497 507 435 56 56 53 61 A320 family 396 392 432 441 454 374 A330 20 18 Sep-22 Sep-23 Sep-24 Sep-25 A350 36 35 Wide-body Narrow-body +51% 440 371 328 110 85 291 B737 229 330 51 62 277 286 330 229 B767 15 20 Sep-22 Sep-23 Sep-24 Sep-25 B777 11 29 Wide-body Narrow
Slide 10: Outlook and mid-term targets
Sales increase to >EUR 900m Adj. EBITDA growth to >EUR 160m Positive Net Income Positive Free Cash Flow Sales increase to >EUR 1bn Adj. EBITDA growth to >EUR 185m Net Cash Position 10
Slide 11: Confidential presentation disclaimer
THIS PRESENTATION AND ITS CONTENTS ARE CONFIDENTIAL AND ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY JURISDICTION WHERE SUCH DISTRIBUTION IS UNLAWFUL. This
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