Compagnie Chargeurs Invest · EURONEXT:CRI
Compagnie Chargeurs Invest — H1 2025 Earnings Presentation
35 slides from Compagnie Chargeurs Invest's earnings presentation, Sep 10, 2025
Slide 1: H1 2025 Results
September 10, 2025 H1 2025 Results
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements relating to the business, results and financial position of Compagnie Chargeurs Invest. Such forward-looking statements are based on assumptions that are currently considered reasonable, but which are dependent on external factors a
Slide 3: Contents
01 CONTENTS INTRODUCTION 02 OPERATING REVIEW 03 ASSET AND FINANCIAL REVIEW 04 CONCLUSION 3
Slide 4: Introduction
01 Introduction Michaël Fribourg Chairman and CEO 4
Slide 5: A dual industrial and financial vision
A dual industrial and financial vision A culture of active An operator and developer of global champions in industry and services portfolio management CULTURE INNOVATIVE FASHION & KNOW-HOW & EDUCATION MATERIALS A long-term family and institutional shareholder base Museum Studio Chargeurs PCC Luxury
Slide 6: A global presence across 5 continents
A global presence across 5 continents EUROPE +100 countries 11 production sites International footprint 23 distribution centres and commercial offices 20 ~1.400 Production sites employees 3 49 London 5 Distribution centres and Paris commercial offices 2 New York ~2.600 Abu Dhabi Hong Kong Employees
Slide 7: A tailor-made approach to drive development and sustainable value creation
A tailor-made approach to drive development and sustainable value creation € In-house development Combined development Arbitration Invest Contribution or merger of assets Full or partial disposal of assets Develop and strengthen know-how, geographies or offers Accelerate development and strengthen A
Slide 8: Study of the potential disposal of the Innovative Materials platform
Study of the potential disposal of the Innovative Materials platform following several indicative expressions of interest Study of the potential divestment of Novacel Indicative expressions of interest received for the Innovative Materials platform • The Group is reviewing the various opportunities
Slide 9: Museum Studio exclusive discussions for acquisition of Chaplin's World
Museum Studio entered into exclusive discussions for the acquisition, operation and global development of Chaplin’s World Acquisition project of Chaplin’s World A unique cultural venue with international reach CULTURE & ÉDUCATION • Acquisition project of the only museum in the world entirely dedicat
Slide 10: Portfolio driven by new businesses and resilient historical businesses
In the first half-year, a portfolio of assets driven by the strong momentum of new businesses and the solid resilience of historical businesses Chargeurs PCC Personal Goods Context of uncertainty Continued strong commercial regarding customs tariffs in growth for all three maisons Asia and slowdown
Slide 11: Solid performance of the business portfolio despite customer wait-and-see attitude
Solid performance of the business portfolio despite the wait-and-see attitude from Chargeurs PCC customers linked to customs tariffs 583 M€ €372.2m €10.8m € 24.2 €/share NET ASSET VALUE REVENUE OPERATING PROFIT -0.6% -1.7% +€0.1/share +5.9% Reported Like-for-like vs. December 31, 2024 vs. H1 2024 ch
Slide 12: Operating review
02 Operating review Jérôme Angin Group Chief Financial Officer 12
Slide 13: Revenue maintained in the first half of 2025
Revenue maintained in the first half of 2025, despite a volatile and uncertain economic environment Very strong momentum in the United States Continued very strong growth for Museum Studio Wait-and-see attitude in Europe and Asia and Personal Goods Reported Like-for- (in €m) H1 2025 H1 2024 change l
Slide 14: Ongoing improvement in cash flows from operating activities before changes in NWC
Ongoing improvement in the businesses’ cash flows provided by operating activities before changes in NWC Cash flow from operating activities (in €m) +12% 18.2 +10% 16.2 14.7 9.1 7,4 Novacel Museum Studio 6.3 Chargeurs PCC 4,8 Luxury Fibers 3,5 8.1 Personal Goods 6,8 5,9 4.3 0,2 0.5 -0.1 -1,2 -3,3 -3
Slide 15: Culture & Education
Culture & Education 15
Slide 16: Museum Studio
Museum Studio Continued remarkable and highly profitable growth in the business +30% Revenue +71% ROP H1 2025 H1 2024 Change CAGR 80.2 (in €m) €m Revenue 80.2 66.3 +21.0% 66.3 Like-for-like growth +17.9% 52.0 EBITDA 10.9 7.2 +51.4% 36.3 9.0 6.0 as a % of revenue 13.6% 10.9% 4.5 Recurring operating p
Slide 17: Museum Studio: two new acquisitions
Museum Studio Two new acquisitions to further strengthen expertise, geographic footprint, and service offerings Chaplin’s World Lord Cultural Resources Acquisition project of the only museum in the world Majority stake acquired dedicatedto Charlie Chaplin University of Michigan Centre Culturel et Lo
Slide 18: Fashion & Know-how
Fashion & Know-how a COMPAGNIE i, SHARGEURS af INVEST
Slide 19: Chargeurs PCC
Chargeurs PCC Differentiation between fashion activities and technical textiles A fashion business impacted by Asian and European wait- Ongoing transformation and reorganization of technical and-see attitudes textiles activities Chargeurs PCC - Fashion Activities Chargeurs PCC - Technical Textiles (
Slide 20: Luxury Fibers
Luxury Fibers Strong demand for NATIVATM programs and wait-and-see attitude toward more traditional offerings H1 2025 H1 2024 Change €m Revenue 38.1 43.1 -11.6% Like-for-like growth -10.4% EBITDA 0.8 1.1 -27.3% as a % of revenue 2.1% 2.6% Recurring operating profit 0.6 0.9 -33.3% as a % of revenue 1
Slide 21: Personal Goods: Swaine 275th anniversary
Personal Goods Swaine celebrates its 275th anniversary and accelerates its commercial expansion A dialogue between two Historic entry into Harrods in British institutions: London meeting with Royal Ascot Upcoming openings in the at a private event hosted United States and by Daniel Fletcher Switzerl
Slide 22: Personal Goods: Cambridge Satchel and Altesse Studio
Personal Goods Retail roll-out of Cambridge Satchel and very strong momentum for Altesse Studio Sustained growth for Cambridge Satchel with new stores and Altesse Studio's strong momentum reflects the success of its new collections positioning in France and internationally • Opening of four new stor
Slide 23: Personal Goods
Personal Goods Continued strong growth and commercial investments with numerous store openings +18% H1 2025 H1 2024 Change CAGR €m Revenue 7.1 5.8 +22.4% 7,1 5,8 Like-for-like growth +21.1% 5,1 EBITDA -1.4 -1.9 +26.3% as a % of revenue -19.7% -32.8% Recurring operating profit -3.6 -3.7 +2.7% as a %
Slide 24: Innovative Materials
Innovative Materials 24
Slide 25: Novacel
Novacel Very solid results despite a high basis for comparison (*) • Strengthening of positioning in growth markets and technical and premium products Upcoming opening of a service center in India to consolidate presence and strengthen proximity and responsiveness Continued strong demand for the e
Slide 26: Asset and financial review
03 Asset and financial review Jérôme Angin Group Chief Financial Officer 26
Slide 27: Good resilience despite a volatile and uncertain economic environment
Good resilience despite a volatile and uncertain economic environment €m H1 2025 H1 2024 variation Stable revenue in a volatile economic environment, Revenue 372.2 374.3 -0.6% 1 impacted by the currency war and changes in customs duties Gross profit 99.9 99.3 +0.6% Improvement in gross margin thanks
Slide 28: Improvement in cash flows provided by operating activities
Improvement in cash flows provided by operating activities before changes in NWC and solid level of operating cash flow generation €m H1 2025 H1 2024 EBITDA continued and discontinued activities 29.0 29.7 Non-recurring – cash -2.8 -6.0 Financial expenses – cash -13.2 -13.4 Tax – cash -5.4 -2.0 Other
Slide 29: Solid balance sheet and long-term refinancing of part of the debt
Solid balance sheet and long-term refinancing of part of the debt €m 30/06/2025 31/12/2024 Equity technically impacted by exchange rate Intangible assets 297.5 320.2 fluctuations In €m Property, plant and equipement 143.6 147.0 315,7 Associates 4.8 5.3 263,3 Other net assets and liabilities 23.2 25.
Slide 30: Change in net asset value as of June 30, 2025
Change in net asset value as of June 30, 2025 €24.1 €24.2 per share per share In +0.1€ Net asset value €/share XX € / action 2,4 24,1 24,2 €583m -2,1 -0,2 Key factors determining valuation in H1 2025 + Operational performance - Exchange rates impact - Evolution of market multiples XX € / action NAV
Slide 31: Conclusion
04 Conclusion Michaël Fribourg Chairman and CEO 31
Slide 32: Ongoing strengthening of the portfolio of leading assets
Ongoing strengthening of the portfolio of leading assets in the Group’s core excellence themes Our ambition A committed family shareholder base with a long-term vision A portfolio of new, high-growth businesses Accelerate sustainable and resilient traditional businesses value creation A portfo
Slide 33: Outlook: increase in Net asset value and stabilization at a normative debt leverage
Outlook: increase in Net asset value and stabilization at a normative debt leverage 2025-2030 outlook Net asset value [8-10%] of CAGR(1) Consolidated leverage ratio Net debt / EBITDA(2) [2x-3x] (1) Compound annual growth rate, excluding dividend payout (2) Group consolidated EBITDA 33
Slide 34: Compagnie Chargeurs Invest
EST. T 1872 COMPAGNIE CHARGEURS INVEST
Slide 35: Appendix: Revenue for the second quarter of 2025
Appendix Revenue for the second quarter of 2025 35
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