Amrize Ltd · NYSE:AMRZ
Amrize — Investor Day (2025)
15 slides from Amrize's investor day presentation, Mar 27, 2025
Slide 1: Driving Shareholder Value
Section 4 DRIVING SHAREHOLDER VALUE Ian Johnston CFO Winthrop Center, Boston, MA Amrize inside
Slide 2: Strong 2024 Results Highlighted by Double-Digit Adjusted EBITDA Growth
STRONG 2024 RESULTS HIGHLIGHTED BY DOUBLE-DIGIT ADJUSTED EBITDA GROWTH $11.7B $3.2B 27.2% $1.7B 54% 2024 Revenues 2024 Adjusted 2024 Adjusted 2024 Free Cash 2024 Cash Flat vs. FY 2023 EBITDA1 EBITDA Margin1 Flow1 Conversion1 +12% vs. FY 2023 +280bps vs. FY 2023 +19% vs. FY 2023 +330bps vs. FY 2023 5
Slide 3: Financial Highlights
FINANCIAL HIGHLIGHTS 1 Successful track record of value creation 2 Realizing synergies in our supply chain 3 Investing for long-term growth Strong cash generation supports capital 4 allocation strategy 5 Mid-term financial targets 53 M3 Tower Project, Mississauga, ON, Canada Amrize inside
Slide 4: Successful Track Record of Value Creation: Double Digit Revenue and Profit Growth
1 SUCCESSFUL TRACK RECORD OF VALUE CREATION DOUBLE DIGIT REVENUE AND PROFIT GROWTH Revenues Adjusted EBITDA1 Adjusted EBITDA Margin1 +13% +16% +220 CAGR CAGR bps $11.7B $3.2B 27.2% $8.1B 25.0% $2.0B 2021 2024 2021 2024 2021 2024 54 1 See appendix for non-GAAP reconciliation.
Slide 5: Successful Track Record of Value Creation: Strong Cash Generation and Conversion
1 SUCCESSFUL TRACK RECORD OF VALUE CREATION STRONG CASH GENERATION AND CONVERSION Free Cash Flow1 Cash Conversion1 +15% >50% CAGR Free Cash Flow / Adjusted EBITDA in each of the last 4 years $1.1B $1.7B >100% Free Cash Flow / Net Income in each of the last 4 years 2021 2024 55 1 See appendix for non
Slide 6: Realizing Synergies in Our Supply Chain
2 REALIZING SYNERGIES IN OUR SUPPLY CHAIN READY TO DRIVE VALUE THROUGH SCALE AND FOCUS 2024 Third-party spend Raw Materials: joint external sourcing and mineral materials insourcing opportunities Services Raw Services: digital procurement tools and 24% Materials cost benchmarking across 1,000+ sites
Slide 7: Synergy Targets
2 REALIZING SYNERGIES IN OUR SUPPLY CHAIN SYNERGY TARGETS $250M+ 50bps+ Cumulative Synergy Target Margin Improvement per Year (2025 – 2028) 57
Slide 8: Deploying Capex to Grow and Maintain Our Business
3 INVESTING FOR LONG-TERM GROWTH DEPLOYING CAPEX TO GROW AND MAINTAIN OUR BUSINESS Property, Plant & Equipment % of Revenues 5.5% Invest in expanding our footprint, increasing production capacity and reaching new markets 4.8% Investing in supply chain capacity and automation $642M Well maintained an
Slide 9: Growth Capex to Expand Capacity and Margin
3 INVESTING FOR LONG-TERM GROWTH GROWTH CAPEX TO EXPAND CAPACITY AND MARGIN Ste. Genevieve, Missouri St. Constant, Quebec Malarkey Plant, Indiana Largest cement plant Expanding capacity with a new New shingles in North America clinker line and reducing costs manufacturing plant Cement capacity incre
Slide 10: Value Accretive and Disciplined Acquisition Strategy
3 INVESTING FOR LONG-TERM GROWTH VALUE ACCRETIVE AND DISCIPLINED ACQUISITION STRATEGY $3.8B+ 35 acquisitions since 2018 across Aggregates, Ready-mix and Building Envelope Building Envelope segment built through M&A and accounts for 29% of Revenues in 2024 Annual Revenue Acquired companies with stron
Slide 11: Expected Investment Grade Credit Rating & Significant Liquidity
4 STRONG CASH GENERATION SUPPORTS CAPITAL ALLOCATION STRATEGY EXPECTED INVESTMENT GRADE CREDIT RATING & SIGNIFICANT LIQUIDITY Key Financial Policies Proposed Initial Capital Structure and Liquidity Strong Investment Grade Credit Ratings Moody’s Baa1 | S&P BBB+ expected <1.5x $2.0B Net Leverage Ratio
Slide 12: Growth-Driven Capital Priorities
4 STRONG CASH GENERATION SUPPORTS CAPITAL ALLOCATION STRATEGY GROWTH-DRIVEN CAPITAL PRIORITIES Invest in the Capital 1 business expenditures Invest in expanding our footprint, increasing production capacity and reaching new markets Acquisitions Bolt-on opportunities in attractive, fragmented 2 M&A B
Slide 13: Mid-Term Financial Targets: Key Growth Drivers
5 MID-TERM FINANCIAL TARGETS KEY GROWTH DRIVERS STRONG END MARKET DEMAND Aging infrastructure, recent onshoring trends and historical underinvestment in residential housing provides runway for future growth ATTRACTIVE PRICING DYNAMICS Favorable supply demand dynamics in local markets with limited na
Slide 14: Mid-Term Financial Targets: FY2025-FY2028 Underlying Assumptions
5 MID-TERM FINANCIAL TARGETS FY 2025 - FY 2028 Underlying Assumptions over over 22% – 24% 5 – 8% 8 – 11% $8B 50% Effective Tax Rate Revenue Adjusted EBITDA Cumulative Cash Conversion CAGR CAGR Free Cash Flow 5% – 7% CAPEX (% of Revenue) 64 Little Island & One World Trade Center, New York Targets inc
Slide 15: Safe Harbor Statement
SAFE HARBOR STATEMENT This presentation (and the information contained herein or provided to you in connection herewith) contains forward-looking statements with respect to the future financial or business performance, strategies, or expectations of Amrize AG (the “Company”). Forward-looking stateme