Slide 1: Q1 2025 Sales
Q1 2025 Sales April 24, 2025 Luc Themelin Thomas Baumgartner CEO CFO
Slide 2: A first quarter in line with full-year objectives
A first quarter in line with full-year objectives Reported sales Contribution of Expected decrease Growth in 3 acquisitions in solar and SiC transportation €305m (net of disposal semicon (aeronautics, rail, EV), impact) wind and power -2.5% vs 2024 electronics -6.4% on organic ~€10m, ie +3% basis 2
Slide 3: Expected decrease in electronics and energy (solar); dynamic transportation markets
Expected decrease in electronics and energy (solar) Dynamic transportation markets 9.5% CHEMICALS + 35% 17% PROCESS INDUSTRIES TRANSPORTATION - ++ 305 M€ -6,4%* 19% ENERGY 19.5% - ELECTRONICS Organic growth 2024 vs 2023 -- ++ +5% ; +10% + + 0% ; +5% - -10% ; 0% *Estimated breakdown of Q1 2025 sales
Slide 4: Solar impacts growth in Asia; SiC semiconductors impact growth in North America
Solar impacts growth in Asia SiC semiconductors impact growth in North America Q1 2025 sales €103M Organic growth -1.4% Europe North America €128M Asia-Pacific Organic growth €62M South America Organic growth -4.9% Africa - 19.3% €12M Organic growth + 24.4% 4 Mersen - Q1 2025
Slide 5: A global presence is an asset in the current geopolitical context
A global presence is an asset in the current geopolitical context Continental Europe 17 industrial sites €375m 2024 sales ~92% locally produced United States China 15 industrial sites €450m 2024 sales 7 industrial sites ~75% locally produced €145m 2024 sales Mainly assembly of fuses in ~95% locally
Slide 6: Market trends
Market trends • Energy • Further slowdown in solar energy in Q2 (inventory levels in the value chain) and potential impact of tariffs • Good momentum in wind energy • Electronics • High order book in semiconductors Si • Completion of negotiations with our SiC semiconductors customers • Several power
Slide 7: 2025 outlook confirmed
2025 outlook confirmed Sales Profitability Industrial capex Reported sales stable to EBITDA margin between €160-170m, of which €15m positive on the basis of a 16% and 16.5% carried forward from 2024 EUR/USD exchange rate of 1.05 and EUR/RMB of 7.65 (includes normative capex and growth capex) Operati
Slide 8: Questions
QUESTIONS