Electro Optic Systems Holdings Limited · ASX:EOS
Electro Optic Systems — H1 2025 Earnings Presentation
40 slides from Electro Optic Systems's earnings presentation, Aug 22, 2025
Slide 1: 1H 2025 Results Presentation
For personal use only 1H 2025 Results Presentation Dr. Andreas Schwer, Managing Director & Chief Executive Officer Clive Cuthell, Chief Financial Officer & Chief Operating Officer 22 August 2025 Approved for release by the Board of Directors
Slide 2: Agenda and Speakers
Agenda and Speakers For personal use only Today’s Agenda Today’s Speakers Dr. Andreas Schwer, MD & CEO 1H 2025 Highlights and Business Update • Over 30 years in global Defence, Manufacturing and Space • Previously with Rheinmetall AG, Manitowoc and Airbus • Deep experience in Europe & Middle East 1H
Slide 3: 1H 2025 Highlights and Business Update
For personal use only 1H 2025 Highlights and Business Update Dr. Andreas Schwer, Managing Director & Chief Executive Officer
Slide 4: Summary
Summary EOS has grown the Contract Backlog by $171m since Dec 2024. We aim to deliver high growth Growing • Contract Backlog $307m at 22 August up 126% from 31 Dec 2024 Contract Backlog For personal use only • Revenue $44.1m down 58% or $61.4m on 1H 2024 Strong • Gross Margin %2 76% up 32% on 1H 202
Slide 5: 2025 YTD Highlights
2025 YTD Highlights In 1H 2025 we continued to diversify the order book and strengthened the balance sheet Key Developments in 2025 YTD For personal use only Jan Receipt of $160m proceeds from EM Solutions divestment Jan Repayment of all remaining debt May Slinger €31m (~A$53m) Slinger Counter-Drone
Slide 6: Market Conditions
Market Conditions Ongoing geopolitical tensions coupled with rapidly evolving technology and the need to replenish depleted stocks has created a strong and enduring macro tailwinds For personal use only Defence Industry Geopolitical Growth Super Cycle Changes Regional tensions US and Rest of NATO De
Slide 7: The Rise of Drone Warfare
The Rise of Drone Warfare Militaries and law enforcement are struggling to keep up with the drone threat; demand for counter-drone solutions is growing rapidly For personal use only Russian drone and missile strikes on Ukraine 7
Slide 8: Drones Continue to Evolve and Attack a Range of Targets
Drones Continue to Evolve and Attack a Range of Targets The trends are expected to continue – smaller; cheaper; more sophisticated/autonomous; greater numbers Drone attacks pose key challenges for defence forces For personal use only Low Cost Agile Swarms Autonomy Hardening GROUP I/II/III DRONES GRO
Slide 9: Effective Counter-Drone Strategies Require a Layered Response
Effective Counter-Drone Strategies Require a Layered Response The key EOS products are complementary within a comprehensive and layered counter-drone defence system Weapon \ Range 1km 2km 3km 4km 5km 6km 7km 8km 9km 10km Electronic For personal use only Warfare (EW) EOS CURRENT FOCUS Remote Weapon S
Slide 10: Slinger Counter-Drone System
Slinger Counter-Drone System EOS’ world-leading Counter Drone system is battle-proven in Ukraine. Sales growth continued in 1H 2025 with a record €31m order For personal use only Context • Reported >10,000 Ukraine drone launches / month • Limited defence options: • technical requirements • economic
Slide 11: EOS World-First Export Contract
EOS World-First Export Contract In August 2025, EOS signed a €71.4m, (approx. A$125m) contract with a European NATO member For personal use only Deliverable - 100kW System, including: • Container module for truck • Laser modules incl. seed oscillators • Beam Director and Management System • System i
Slide 12: Developing EOS Space Capabilities
Developing EOS Space Capabilities EOS has delivered on its commitment to secure customer funding to develop and grow its Space Systems division For personal use only Announced Description $m 1 15 April 2024 Contract with ADF Joint Capabilities Division to further develop space capabilities 5 2 31 Ju
Slide 13: EOS is focused on growing its order book
EOS is focused on growing its order book EOS has established the key enablers to deliver sustainable growth in the order book For personal use only Markets Products Sales & Marketing Order Book • Global military spending • Recent launch of the R500, the • Step-change in sales • Contract backlog of $
Slide 14: Contract Backlog
Contract Backlog EOS has delivered growth: Contract Backlog at 22 August 2025 is $307m, an increase of 126% on December 2024 For personal use only Contract Backlog (excludes EM Solutions), $m Recent Contract Wins 500 • $53m Slinger contract to Western European customer (announced May 2025) 450 • $12
Slide 15: Market Development Update
Market Development Update Growing the order book continues to be our key focus; we are working on several opportunities for growth in 2026 & 2027 Opportunity Maturity Maturity Description Notable Opportunities / Comments For personal use only • ADF Project LAND 156 for counter-drone capability – Fir
Slide 16: 1H 2025 Financial Results
For personal use only 1H 2025 Financial Results Clive Cuthell, Chief Financial Officer & Chief Operating Officer
Slide 17: 1H 2025 Financial Performance
1H 2025 Financial Performance 1H revenue was lower after large 2024 contract completions. 2025 revenue is expected to be heavily biased to 2H Revenue (Continuing Operations), $m $m (continuing operations) 1H 2025 1H 2024 Var For personal use only Revenue 44.1 105.5 (61.4) Gross Margin % 2 76% 44% 32
Slide 18: 1H 2025 Segment Performance
1H 2025 Segment Performance Defence Systems focussed on rebuilding the contract backlog while Space Systems grew its topline For personal use only $m 1H 2025 1H 2024 Var Revenue 38.8 101.4 (62.6) Defence Underlying EBITDA1 (incl. corp allocations) (13.1) 3.1 (16.2) Systems • Revenue decreased by 62%
Slide 19: 1H 2025 Cashflow
1H 2025 Cashflow During 1H EOS sold EMS and repaid all debt. At 30 June 2025 EOS had no borrowings and $130m in Cash and Term Deposits $m 1H 2025 1H 2024 Var • Operating cash flow includes: For personal use only Receipts from customers 100.8 120.3 (19.5) • Receipts from customers includes US$40m (~A
Slide 20: Balance Sheet Update
Balance Sheet Update During 1H 2025, all debt was repaid. At 30 June 2025 EOS had $130m of cash & term deposits + $52m in security deposits Net Contract Asset Balance $m Operational Balance Sheet Management For personal use only • Net contract asset (working capital) steadily reduced over 3 years 14
Slide 21: Summary of Investment Opportunities
Summary of Investment Opportunities EOS continues to develop attractive investment opportunities. We will continue to exercise strategic and capital discipline, including sourcing customer funding and partnerships where appropriate Opportunity Focus For personal use only • Artificial Intelligence (A
Slide 22: Strategic Growth Update
For personal use only Strategic Growth Update Dr. Andreas Schwer, Managing Director & Chief Executive Officer
Slide 23: Executing on Strategic Agenda
Executing on Strategic Agenda EOS is delivering on key strategic goals - commercialising IP in Counter-Drone and Space Control, while exercising capital discipline For personal use only Counter-Drone RWS - Key Strategic Achievements • Developed and launched counter-drone variants Remote Weapon • Gro
Slide 24: Growth Strategy
Growth Strategy EOS has executed on key strategic growth initiative and plans to deliver high growth in core focus areas 1-3 Years For personal use only 2-5 Years 3-10 Years • Significant organic growth opportunities: DEFEND NURTURE SEED • Remote Weapons Systems (RWS) & GROW • Counter-Drone products
Slide 25: Conclusion
For personal use only Conclusion Dr. Andreas Schwer, Managing Director & Chief Executive Officer
Slide 26: Summary and Outlook
Summary and Outlook EOS has continued to execute its growth strategy. Markets are very strong and we plan to continue growing Summary • Market conditions remain supportive For personal use only • Divestment of non-core activity (EM Solutions) & Strengthened balance sheet to support growth • Focused
Slide 27: Appendices
For personal use only Appendices
Slide 28: Glossary
Glossary Term Description Term Description ADF Australian Defence Force ISR Intelligence, surveillance and reconnaissance For personal use only Technique of precisely deforming a mirror in order to Adaptive Optics kW Kilo Watts compensate for (atmospheric) light distortion APKWS Advanced Precision K
Slide 29: The Challenge of Defending Against Drones
The Challenge of Defending Against Drones The rapid rise of drones has changed the battlefield. Defending against drones is challenging. Offence is currently in the ascendant OFFENCE: the challenge of drones DEFENCE: requirements for effective drone defence For personal use only • Low-cost drones pr
Slide 30: Market Development Update
Market Development Update Growing the order book continues to be our key focus; several opportunities are developing Emerging Preliminary Evaluation Advanced For personal use only Notable Opportunities Region Product Size Opportunity • LAND 400-3 Project for ADF Australia R400 $100m • Contract devel
Slide 31: Market Development Update
Market Development Update Growing the order book continues to be our key focus; several opportunities are developing Emerging Preliminary Evaluation Advanced For personal use only Notable Opportunities Region Product Size Opportunity • Existing customer, follow-on order Middle East R500 $500m+ • Ini
Slide 32: Market Development Update
Market Development Update Growing the order book continues to be our key focus; several opportunities are developing Emerging Preliminary Evaluation Advanced For personal use only Notable Opportunities Region Product Size Opportunity • Opportunity to put RWS on large logistics vehicle fleet Europe R
Slide 33: Market Development Update
Market Development Update Growing the order book continues to be our key focus; several initial opportunities are emerging Emerging Preliminary Evaluation Advanced For personal use only Notable Opportunities Region Product Size Opportunity • Potential new NATO customer nation in Western Europe Europ
Slide 34: Strategic Growth Opportunities
Strategic Growth Opportunities EOS is developing world-leading innovations with large addressable markets and is developing customer and partner opportunities High Energy Laser Weapon (HELW) Space Control For personal use only • There is an urgent market need for • Satellites have become a key defen
Slide 35: 1H 2025 Segment Performance
1H 2025 Segment Performance For personal use only Continuing Operations, $m 1H 2025 1H 2024 Var Revenue Defence Systems 38.8 101.4 (62.6) Space Systems (excl. EM Solutions) 5.3 4.1 1.2 Total 44.1 105.5 (61.4) Underlying Divisional EBITDA Profit/(Loss) (incl. allocated corporate costs) Defence System
Slide 36: Reconciliation of Statutory Profit / (Loss) and Non-GAAP measures
Reconciliation of Statutory Profit / (Loss) and Non-GAAP measures Continuing Operations, $m 1H 2025 1H 2024 For personal use only (Loss) for the period (44.8) (10.8) Income tax (benefit) (0.4) (3.7) (Loss) before tax (45.2) (14.5) Finance costs 16.6 12.4 Foreign exchange loss/(gain) 5.8 (5.0) Underl
Slide 37: EOS Customer Identities
EOS Customer Identities EOS deals with a number of customers in the defence and security industries and has not disclosed the identity of certain customers in this announcement. For personal use only EOS confirms that: 1. it does not consider the identity of such customers to be information that a r
Slide 38: Important Notice and Disclaimer
Important Notice and Disclaimer CONTENT OF PRESENTATION FOR INFORMATION PURPOSES ONLY This presentation has been prepared as at 22 August 2025. For personal use only Electro Optic Systems Holdings Limited (EOS) published the 30 June 2025 half year financial statements on 22 August 2025 and this pres
Slide 39: Important Notice and Disclaimer
Important Notice and Disclaimer Presentation of Information All financial information has been prepared in accordance with Australian Accounting Standards. Certain financial data included in this presentation is ‘non IFRS financial information’. The Company believes that For personal use only this n
Slide 40: For personal use only
For personal use only
Electro Optic Systems Holdings — H1 2025 Earnings Presentation on 6ix