Slide 1: Elevating Champions
Elevating Champions Earnings Call FY 2024 August 7, 2025
Slide 2: Disclaimer
Disclaimer This document is being presented solely for informational purposes and should not be treated as in this presentation are free from errors nor does it accept any responsibility for the future giving investment advice and does not constitute or form part of, and should not be construed as,
Slide 3: Delayed audit and final outcome
Delayed audit and final outcome Unqualified audit opinion received ▪ As published in our ad-hoc release on August 5, BKHT received an unqualified audit opinion from its auditor KPMG Validation of key metrics ▪ KPMG’s audit confirmed our preliminary key performance metrics (group revenue and adjusted
Slide 4: Postponement of the 2024 financial statement publication
Postponement of the 2024 financial statement publication Audit timeline controlled by auditor ▪ BKHT supported the audit process fully, utilizing both internal resources and external advisors ▪ Despite our best efforts to expedite the process, the audit timeline was largely determined by the auditor
Slide 5: Non-cash impairments in the 2024 financial statements
Non-cash impairments in the 2024 financial statements Goodwill of the Security Technologies segment (IHSE) ▪ Previously valued at €80 million, was impaired by €40 million to €40 million ▪ Intangible assets recognized during the acquisitions of IHSE and kvm-tec (PPA assets) were impaired by €8 millio
Slide 6: Summary FY 2024
Summary FY 2024 Selected group financials Key highlights (€ million) +10% 186.6 204.3 Strong revenue growth in FY 2024 despite a Revenue challenging economic environment -3% 67.0 EBITDA and EBIT particularly influenced by Adjusted 65.0 higher personnel and other operating pro forma expenses to enabl
Slide 7: Strong free cash flow development
Strong free cash flow development Free cash flow before tax Highlights (€ million) CAGR: +60% Free cash flow before taxes at €43 million, close to the 44.4 record level of the previous 43.4 year (2023: €44 million) 39.8 Operating cashflow of €41 million significantly € above prior year (2023: €35 mi
Slide 8: Dynamic increase in earnings since the IPO
Dynamic increase in earnings since the IPO Adjusted earnings per share (EPS) Highlights (in €) CAGR: +107% Adjusted earnings per share have increased nearly 9x since the IPO Compound annual growth rate (CAGR) of +107% between 2021 and 2024 1.05 0.88 0.64 The development of EPS underscores the resili
Slide 9: Revenue by quarter
Revenue by quarter +51.3% +20.4% 62.4 +28.7% 56.4 46.8 -35.1% 41.2 32.4 33.0 25.1 21.4 Q1 Q2 Q3 Q4 -15.5% -31.3% -25.5% -12.5% 11.8 11.0 9.4 10.0 8.3 7.5 7.3 7.0 Q1 Q2 Q3 Q4 (€ million) IHSE Bikeleasing Prior-year period 9
Slide 10: Revenue by region
Revenue by region +18.0% 172.6 146.2 - - - - EMEA Americas APAC -1.9% 21.7 21.3 -67.5% 15.5 +68.8% 5.1 5.4 3.2 EMEA Americas APAC (€ million) IHSE Bikeleasing Prior-year period 10
Slide 11: KPIs by segment (pro forma)
KPIs by segment (pro forma) Central Functions BKHT HR Benefit & Mobility Platform Security Technologies and Consolidation Group Pro forma Pro forma (€ thousand) FY 2024 FY 2023 FY 2024 FY 2023 FY 2024 FY 2023 FY 2024 FY 2023 Revenue 172,552 146,213 31,770 40,468 - (51) 204,321 186,631 Revenue growth
Slide 12: Constant net leverage well below the target level
Constant net leverage well below the target level Net debt calculation as per FY 2024 Highlights (€ million) Available financing capacity 72.8 ~0.70x allows for future growth Net debt / adj. pro-forma EBITDA through new acquisitions (LTM) 5.0 45.6 16.2 Further reduction of the € leverage ratio from
Slide 13: Bikeleasing – Operational deep dive
Bikeleasing – Operational deep dive Development 2024: German bike market (in € billion bikes sold) 7.1 -2.5% -8.0% -10.3% Record fiscal year for Bikeleasing in terms 6.3 of financial KPIs Corporate customers increased to # ~72,000 (+21% YoY) with 3.7 million Volume 2023A Unit growth Price growth Vol
Slide 14: Breadth of product offering
Transformation of Bikeleasing from single- to multi-product initiated [schematic illustration only] TAM: ~€25 billion1 Through the acquisition of Probonio and the launch of Bike2Future, Bikeleasing evolves from a pure-play brokerage platform to a digital HR benefit ecosystem Breadth of product offer
Slide 15: Unlocking the used bike market
Unlocking the used bike market ▪ At lease end, ~93% of users (employees) purchase their leased bike; ~7% return to Bikeleasing ▪ Returned bikes also stem from early lease terminations (e.g. employees leaving), triggering insurance claims ▪ To improve monetization of an increasing number of returning
Slide 16: Building the digital backbone for HR benefit management
Building the digital backbone for HR benefit management ▪ Probonio acquisition (April 2024) – strategic rationale: o Expand breadth of employee benefits for corporate clients o Reduce admin cost for our customers by digitizing and automating the benefit administration o Ease internationalization of
Slide 17: IHSE – Operational deep dive
IHSE – Operational deep dive Revenue declined YoY, even though the (€ million) underlying base revenue (excluding the € ~€8 million one-off in 2023) remained 40.5 broadly stable 36.1 8.0 32.7 31.8 32.5 Stable revenue development in EMEA and strong growth in APAC (despite ongoing decoupling tendencie
Slide 18: IHSE – Operational deep dive
IHSE – Operational deep dive As a result of identified irregularities relating to incorrect revenue recognition for a project in one of IHSE’s international subsidiaries, the management was reorganized 1. Frank Breitenfelder was appointed as Managing Director / CFO to strengthen governance and finan
Slide 19: Group Forecast FY 2025
Revenue €225m - €235m Group (2024: €204m | +10% to +15%) Forecast FY 2025 Adj. EBITDA €50m - €55m (2024: €65m | -15% to -23%) 19
Slide 20: Happy to answer your questions
Q&A Happy to answer your questions 20
Slide 21: Brockhaus Technologies AG contact details
BROCKHAUS TECHNOLOGIES AG Thurn-und-Taxis-Platz 6 60313 Frankfurt am Main, Germany Phone: +49 69 20 43 40 90 Fax: +49 69 20 43 40 971 E-Mail: ir@brockhaus-technologies.com Web: www.brockhaus-technologies.com IR Distribution List | Newsletter | Follow us on Executive Board: Marco Brockhaus (Chair), D