Cohort Plc · LSE:CHRT
Cohort — Investor Presentation (2025)
28 slides from Cohort's investor presentation, 2025
Slide 1: Empowering innovation for defence advantage
Empowering innovation for defence advantage
Slide 2: Presenting today
Presenting today ▪ 20 years at Cohort plc since its foundation ▪ 20 years at Cohort plc since its foundation ▪ Co-founder of Cohort plc ▪ Joined as Finance Director in 2006 ▪ Chief Executive since 2009 ▪ Prior roles at BAE, Alvis plc and P&O ▪ Prior roles at Alvis plc and the UK MOD ▪ 30 years of de
Slide 3: Key strengths underpinning Cohort's investment case
Key strengths underpinning Cohort’s investment case • Strong and proven business model led by experienced team • Access to attractive growth markets in our chosen niches • Active acquisition strategy to accelerate growth • Financial strength for acquisitions, R&D and capacity investment • Visibility
Slide 4: Empowering innovation for defence advantage
Empowering innovation for defence advantage Empowering organic growth Accelerating through acquisition Corporate Strategy With a culture that underpins our success EXPERT RESPONSIBLE PRACTICAL DYNAMIC 4
Slide 5: Overview of businesses
Overview of businesses COMMUNICATIONS AND INTELLIGENCE FY25 REVENUE £125.4M • Electronic Warfare Support • Tactical C4ISR systems • Tactical Communications • Satellite Communications • Cyber Security & Data Services • EW & Signals Intelligence • Naval Communications Terminals • ICT Service Managemen
Slide 6: Empowering organic growth
Empowering organic growth Combined Expertise Winning together Financial Backing Collaboration Connections Opportunitiesfor •• Opportunities for •• Cohortsigned Cohort signedaa Strongbanking •• Strong banking Majorconferences •• Major conferences Cohortrepresents •• Cohort representsthethe cross-busi
Slide 7: Accelerating growth through acquisitions
Accelerating growth through acquisitions ▪ We look to acquire companies where Cohort can act as a value-added parent by bringing our expertise to the ingenuity of the businesses. ▪ We continually review acquisition opportunities as they arise, in line with our criteria: • Small, innovative, agile an
Slide 8: Geopolitical tensions driving demand
Geopolitical tensions driving demand CATALYSTS DRIVING DEFENCE SPENDING INCREASED DEMAND FOR… ▪ Continued conflict in ▪ NATO commitment to 5% of ▪ Underwater infrastructure Central/Eastern Europe and Ukraine national income on security protection (SEA/ELAC) ▪ Rising tensions between China and ▪ NATO
Slide 9: Strong opportunity pipeline
Strong opportunity pipeline COMMUNICATIONS AND INTELLIGENCE Communication and network systems for new Portuguese Navy vessels. Vehicle upgrades for Portuguese Army. Multiple communication systems opportunities from NATO countries and Asia/Pacific Future Portuguese and New Zealand navies fleetwide in
Slide 10: Expanding our global footprint
Expanding our global footprint Completion of ELAC’s new ELAC Italy opening in Launch of SEA Canada facility in Kiel, Germany La Spezia Signalling our commitment to The regional hub will help provide The state-of-the-art manufacturing innovation, the new site will closer support and assistance to the
Slide 11: Robust organic and acquisition-driven growth
Robust organic and acquisition-driven growth Revenues (£m) Acquisition EM Solutions Acquisition ITS Acquisition Chess 270.0 8.2 Acquisition Acquisition ELAC Acquisition 202.5 MCL EID 182.7 Acquisition MASS Acquisition J+S 143.3 137.8 131.1 8.3 Acquisition SEA 112.6 112.7 110.5 121.2 261.8 99.9 10.7
Slide 12: Key strengths underpinning Cohort's investment case
Key strengths underpinning Cohort’s investment case • Strong and proven business model led by experienced team • Access to attractive growth markets in our chosen niches • Active acquisition strategy to accelerate growth • Financial strength for acquisitions, R&D and capacity investment • Visibility
Slide 13: Open minded naval systems
OPEN MINDED NAVAL SYSTEMS Your introduction to ELAC SONAR GmbH
Slide 14: Agenda
AGENDA Introduction to ELAC SONAR ELAC CUBE Tour Q&A session 14 ELAC SONAR GmbH Company Confidential
Slide 15: German engineering based in Kiel
Your introduction to ELAC SONAR GmbH GERMAN ENGINEERING BASED IN KIEL Our home port Kiel is an important centre of naval and defence technology. Kiel is hometown to the German Navy and the NATO Centre of Excellence for Confined and Shallow Waters. It harbours a number of global players in naval ship
Slide 16: ELAC SONAR at a glance
Your introduction to ELAC SONAR GmbH ELAC SONAR AT A GLANCE 270+ 6.000 M2 2 SITES Capacities: Key assets on site: employees ✓acoustic signal processing ✓algorithm programming engineers ✓transducer assembly testing ✓pressure tanks up to 120 bar ✓testing tank 1000 m³ manufacturing ✓high security stand
Slide 17: ELAC CUBE
Your introduction to ELAC SONAR GmbH ELAC CUBE Operational since September 2025 Customer benefits compared to the old facility • Doubled volume 1,000 m³ water tank • Doubled sonar production capacity • Improved shopfloor & warehouse efficiency • Higher security clearance • Strong physical & cyber se
Slide 18: September 2026
Your introduction to ELAC SONAR GmbH SEPTEMBER 2026 18 ELAC SONAR GmbH
Slide 19: First mover in sonars and underwater communication
Your introduction to ELAC SONAR GmbH 1980/90 FIRST MOVER IN SONARS AND Development and manufacture of heavyweight torpedo sonars, ASW and submarine sonars. UNDERWATER COMMUNICATION * 1926 ELECTROACUSTIC GmbH 2000/10/20 (ELAC) founded, first manufacturer of echo sounders, submarine sonars and foghorn
Slide 20: The next significant move in sonar technology
Your introduction to ELAC SONAR GmbH THE NEXT SIGNIFICANT MOVE IN SONAR TECHNOLOGY We no longer think in products – but in holistic sonar solutions completely driven by our customers’ needs. 20 ELAC SONAR GmbH
Slide 21: SPHERE Apps & Platforms
Your introduction to ELAC SONAR GmbH SPHERE APPS & PLATFORMS 21 ELAC SONAR GmbH
Slide 22: We equip innovative navies with advanced sonar systems
Your introduction to ELAC SONAR GmbH WE EQUIP INNOVATIVE NAVIES WITH ADVANCED SONAR SYSTEMS Annual market size SPHERE Underwater Application ELAC Market Share (25/26-27/28) Surveillance Passive 500 mEUR 5% Surveillance Active 150 mEUR Surveillance of CRITIS / Seabed 100 mEUR new Collision Avoidance
Slide 23: Global customer base
Your introduction to ELAC SONAR GmbH GLOBAL CUSTOMER BASE Regional: − Our legacy stronghold in Asia now complemented by strong growth with European customers 1st tier sonar system contractor to: − Submarine and surface combatant shipyards in Europe and Asia 2nd tier supplier to − System Integrators
Slide 24: Italian submarines U212 NFS
ITALIAN SUBMARINES U212 NFS ➢ Customer Chain: Italian Navy – OCCAR – Fincantieri – Leonardo ➢ Contract value > 100mEUR for 4 submarines, rollout till 2032 ➢ Latest and current deliveries: • 2025: o first sonar equipment • 2026: o sonar software o sonar training center o sonar sensors • 2027: o sea t
Slide 25: ELAC SONAR Italia S.r.l.
ELAC SONAR ITALIA S.R.L. Our subsidiary in La Spezia Manifests our commitment to „il conto chiave“: ➢ Performing NFS installation and acceptance work ➢ Ditto for other existing contracts in Italy ➢ Our Business Development hub for Italy and export Founded on 30. April 2025, registered in Milan Locat
Slide 26: New SPHERE products
NEW SPHERE PRODUCTS Introducing our sensor-to-shooter solution to protect critical underwater assets: SPHERE Seabed Surveillance “ENLITOR” • Passive surveillance, onshore processing, ITAR-free • 2nd demonstration at SeaSec 26 in Rostock • High demand in Europe & Asia SPHERE Counter-Drone “Effector”:
Slide 27: Conclusion
CONCLUSION ELAC´s Growth-Driven Underwater Strategy Capture the Sub-Sea Surge: Ride the Unmanned Wave: Exploit growing demand for submarines and anti-submarine First-Mover Advantage in Capitalise on the rapid adoption warfare vessels across Europe and Critical-Infrastructure Defense: of autonomous u
Slide 28: Walk the floor
Your introduction to ELAC SONAR GmbH WALK THE FLOOR 28 ELAC SONAR GmbH