Cenergy Holdings Sa · EURONEXT:CENER
Cenergy Holdings Sa — Investor Presentation (April 2025)
32 slides from Cenergy Holdings Sa's investor presentation, April 2025
Slide 1: Cenergy Holdings Corporate Presentation
Cenergy Holdings Corporate Presentation
Slide 2: Agenda
/01 Introduction to Cenergy /02 Key Strengths Agenda /03 Appendix
Slide 3: Part of Viohalco, a Holding Company of Metal Processing Companies
Part of Viohalco, a Holding Company of Metal Processing Companies Viohalco is a holding company of several metal processing companies across Europe with €6.6bn of sales in 2024 BELGIUM AI Cu Fe Real Aluminium1 Copper1 Cables Steel Pipes Steel R&D Estate2 Cenergy Holding Ownership Cenergy is the hold
Slide 4: Introduction to Cenergy
Ps 01 INTRODUCTION TO CENERGY Co CENERGY HOLDINGS
Slide 5: Cenergy Comprises Two Leading Segments in Cables and Steel Pipes
Cenergy Comprises Two Leading Segments in Cables and Steel Pipes Cables Segment Steel Pipes Segment • Manufacturer of low, medium, high and extra high voltage • Manufacturer of steel pipes for onshore & offshore energy cables for onshore & offshore wind farms, and projects and hollow sections for co
Slide 6: Cables Segment at a Glance
Cables Segment at a Glance Business Overview Key Activities • A leading provider of reliable cable solutions at the forefront of Energy Transmission, Power Cables: LV, MV, HV & EHV energy transition Distribution & Renewables Onshore and offshore • Offers a full suite of cable products and solutions
Slide 7: Steel Pipes Segment at a Glance
Steel Pipes Segment at a Glance Business Overview Activities and End-Markets • A leading manufacturer of steel pipes and hollow sections for the Onshore Drilling & Offshore energy and construction sectors Gas & Liquid Fuel Pipelines Extraction Pipelines • It implements demanding projects for the wor
Slide 8: Long Heritage of Successful Growth
Long Heritage of Successful Growth 1950-60s 1970s 1980s 1990s 2000s 2010s 2020s Foundation Focus on submarine Growth in MV Expanding into HV Establishing HV Established Energy transition cables cables cables capabilities Tier 1 supplier enabler Start of cable Cables Segment Production of XLPE Fulgor
Slide 9: Cenergy Plays a Key Role in Enabling the Energy Transition
Cenergy Plays a Key Role in Enabling the Energy Transition Renewable Energy Sources Wide range of cable solutions (onshore, offshore, floating OFW parks) Evaluation of expansion to OFW floating metallic structures Electricity & Power Connections CCS Subsea connections: leading position Landmark awar
Slide 10: Key Strengths
-- 02 KEY STRENGTHS Co CENERGY Ho LD SDNNWIN GS s
Slide 11: Key Strengths
Key Strengths Leading position in energy transmission /01 in a growing electrification market Well-invested and vertically integrated asset base /02 with capacity expansion potential Established technological capabilities /03 with a longstanding commitment to innovation /04 Clearly defined strategy
Slide 12: Fundamental Long-term Trends Driving Global Energy Transition
Fundamental Long-term Trends Driving Global Energy Transition 01 Resulting in Increased Demand for Cables and Pipes Increasing Global Regulatory Support for Emerging New Energy Significant Investment Demand for Energy Green Transition Technologies in Infrastructure • Global population reached • 147
Slide 13: Significant Investments in T&D Supporting ~7% CAGR in Power Cables Market Until 2030
Significant Investments in T&D Supporting 01 ~7% CAGR in Power Cables Market Until 2030 Global Power Cables Market to Reach ~$100bn by 2030 Power Cables Global Market, ($bn) • Overhead lines, underground and subsea power cables market expected to grow at ~7% CAGR until 2030 and ~3% CAGR from CAGR CA
Slide 14: Europe has Highest Regional Growth At ~11% CAGR Until 2030
01 Europe has Highest Regional Growth At ~11% CAGR Until 2030 EU is Expected to have the Highest Growth at ~11% p.a. Until 2030 Power Cables Global Market ($bn) • Higher share of subsea and interconnection projects expected in Europe driven by UK CAGR CAGR and Germany (~45% of EU capex in subsea 202
Slide 15: HVDC Applications Expected to Have the Highest Growth
HVDC Applications are Expected to Have the Highest Growth 01 Reaching ~$19bn in 2030 and ~$35bn in 2050 HVDC Applications Expected to see the Highest Growth • HV expected to grow the fastest, driven by Total Market Size ($bn) growth in OFW (~12-20% p.a. until 2030), CAGR resulting in increased deman
Slide 16: Gas Continues to Play an Important Role in Energy Transmission
01 Gas Continues to Play an Important Role in Energy Transmission Global Fossil Fuel Demand will Continue to Rise in the Near-Term million TJ • Total fossil fuel demand exp. to make up ~43% of global energy demand in 2050 500 2037 Gas Peak – Natural gas projected to peak in mid/late 2029 2030s, late
Slide 17: Cables: Sophisticated and Technologically Advanced Manufacturing Plants
Cables: Sophisticated and Technologically Advanced Manufacturing 02 Plants With >€720m Invested To Date since 2012 • Key facility strategically located close to the sea, with its own port • Vertically integrated facilities to optimise distribution and minimise cost base • Situated in low-cost Europe
Slide 18: One of the most advanced submarine cables plant in the world
One of the most advanced submarine cables plant 02 in the world • Leadership: One of the largest (275,022m2 land plot, covered area of 118,043m2) and one of the most advanced submarine cable factories globally • Location: Strategically located next to the sea in Corinth, Greece • Capabilities: EHV,
Slide 19: Capacity Expansion to Execute on Record Backlog
02 Capacity Expansion to Execute on Record Backlog Deep Dive: Corinth Plant Deep Dive: Thiva Plant HV & EHV Offshore Cables MV & HV Onshore Cables • Two-year investment program commenced in early 2023 to address • Expansion program aimed at growing onshore cable capacity to serve growing demand for
Slide 20: Expansion to Capture the US Opportunity
02 Expansion to Capture the US Opportunity Clear Rationale for US Expansion Investing in a State-of-the-Art Facility to Capitalise on US Opportunities • Large and fast-moving market, with similar long-term megatrends to our existing core markets • Capacity constraints from local players with very lo
Slide 21: Steel Pipes: Vertically Integrated Thisvi Plant Providing End-to-End Solutions
Steel Pipes: Vertically Integrated Thisvi Plant 02 Providing End-to-End Solutions All-in-One Location for Cenergy’s Steel Pipes Activities • Scale facility with total land area of 496,790m2 and building area of 121,171m2 Port • Broad portfolio capabilities: onshore / offshore pipelines, hollow Dedic
Slide 22: Advanced Technological Capabilities
03 Advanced Technological Capabilities Leading Technological Capabilities Landmark Projects Long Continuous Length Submarine Cables Complex Turnkey Project Solutions of up to 500kV Dogger Bank project: between 2021-2025, the Cables Segment will supply ~900km of 66kV inter-array cables and accessorie
Slide 23: Continuously Investing In Attractive Market Segments
03 Continuously Investing In Attractive Market Segments Investing in the High Growth High Profitability Segments • Existing established presence in cables for High Cenergy’s Developed High-End Capabilities Capabilities Being Further Developed construction and industrial use • Future market growth ex
Slide 24: Clearly Defined Strategy to Drive Growth and Profitability
04 Clearly Defined Strategy to Drive Growth and Profitability 3 Key Pillars to Cenergy’s Strategy Value over Volume Grow Export Sales Optimising Operational Performance • Focus on high value-added products • Execute on new Maryland US facility • Automation across the factory • HV/EHV subsea and land
Slide 25: Solid Track Record Of Growth and Profitability
05 Solid Track Record Of Growth and Profitability Cables Segment Steel Pipes Segment Cenergy Group YoY 9% 17% 26% -1% 14% 10% Revenue Growth % 1,796 1,224 1,628 1,047 1,426 964 581 573 Revenue 462 (€m) 2022 2023 2024 2022 2023 2024 2022 2023 2024 EBITDA 11.3% 14.4% 14.7% 6.1% 11.0% 16.4% 9.6% 13.1%
Slide 26: Strong Continued Momentum
05 Strong Continued Momentum Record Order Backlog providing visibility for further increase Dec 2022 Dec 2023 €2.00bn €3.15bn Dec 2024 Dec 2021 €3.44bn €1.00bn Diversified backlog Per region Per application Cables Steel Pipes Cables Steel Pipes Rest of world Rest of world Greece Americas Greece Othe
Slide 27: Disciplined Balance Sheet to Facilitate Major Ongoing Capex Plan
05 Disciplined Balance Sheet to Facilitate Major Ongoing Capex Plan Net Debt Net Debt / EBITDA -60 3,3x 438 -226 378 1,9x 152 0,6x 2022 2023 2024 2022 2023 2024 CENERGY HOLDINGS | APRIL 2025 26
Slide 28: Delivering returns
05 Delivering returns Dividends / Payout ratio1 a-ROCE2 +75% 0.14 (21.3%) +60% 0.08 (20.9%) 15.4% 21.0% 26.3% 0.05 (15.7%) 2022 2023 2024 2022 2023 2024 2Adjusted Return on Capital Employed (a-RoCE): 1Total dividend declared / Profit after tax for the period Adjusted EBIT (a-EBIT) / Average last fiv
Slide 29: Superior a-EBITDA Margin as Compared to Many Key Competitors
05 Superior a-EBITDA Margin as Compared to Many Key Competitors 2024A a-EBITDA Margin Across the Industry1 • Consistently delivered superior a-EBITDA 12.6% 13.4% 9.3% 8.4% 10.4% margin to many of its key peers, driven by: – Increased exposure to HV projects which 15,1% benefit from higher margins gi
Slide 30: 2025 Guidance & Mid-Term Ambitions
03 2025 GUIDANCE & MID-TERM AMBITIONS
Slide 31: FY2025 Guidance & Medium-Term Financial Ambitions
FY2025 Guidance & Medium-Term Financial Ambitions € 1 Base year 2023 2 Adjusted EBITDA as per company’s alternative performance measures: Defined as EBITDA, adjusted to exclude metal price lag, impairment / reversal of fixed, intangible assets and investment properties, impairment / reversal of inve
Slide 32: Disclaimer
Disclaimer This corporate presentation and accompanying discussion (together with any materials, oral commentary or question and answer session delivered together herewith, the “Presentation”) have been prepared by Cenergy Holdings S.A. (the “Company”, and together with its consolidated subsidiaries
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