Cenergy Holdings Sa · EURONEXT:CENER
Cenergy Holdings Sa — Investor Presentation (November 2025)
26 slides from Cenergy Holdings Sa's investor presentation, November 2025
Slide 1: Cenergy Holdings Corporate Presentation
Cenergy Holdings Corporate Presentation
Slide 2: Agenda
/01 Introduction to Cenergy Holdings /02 Key Strengths Agenda /03 Financials
Slide 3: Part of Viohalco, a Holding Company of Metal Processing Companies
Part of Viohalco, a Holding Company of Metal Processing Companies Viohalco is a holding company of several metal processing companies across Europe with €6.6bn of sales in 2024 BELGIUM AI Cu Fe Real Aluminium1 Copper1 Cables Steel Pipes Steel R&D Estate2 Cenergy Holding Ownership Cenergy Holdings is
Slide 4: Introduction to Cenergy Holdings
01 INTRODUCTION TO CENERGY HOLDINGS
Slide 5: Cenergy Comprises Two Leading Segments in Cables and Steel Pipes
Cenergy Comprises Two Leading Segments in Cables and Steel Pipes Cables Segment Steel Pipes Segment • Manufacturer of low, medium, high and extra high voltage • Manufacturer of steel pipes for onshore & offshore energy cables for onshore & offshore wind farms, and projects and hollow sections for co
Slide 6: Cables Segment at a Glance
Cables Segment at a Glance Business Overview Key Activities • A leading provider of reliable cable solutions at the forefront of Energy Transmission, Power Cables: LV, MV, HV & EHV energy transition Distribution & Renewables Onshore and offshore • Offers a full suite of cable products and solutions
Slide 7: Steel Pipes Segment at a Glance
Steel Pipes Segment at a Glance Business Overview Activities and End-Markets • A leading manufacturer of steel pipes and hollow sections for the Onshore Drilling & Offshore energy and construction sectors Gas & Liquid Fuel Pipelines Extraction Pipelines • It implements demanding projects for the wor
Slide 8: Long Heritage of Successful Growth
Long Heritage of Successful Growth 1950-60s 1970s 1980s 1990s 2000s 2010s 2020s Foundation Focus on submarine Growth in MV Expanding into HV Establishing HV Established Energy transition cables cables cables capabilities Tier 1 supplier enabler Start of cable Cables Segment Production of XLPE Fulgor
Slide 9: Cenergy Plays a Key Role in Enabling the Energy Transition
Cenergy Plays a Key Role in Enabling the Energy Transition Renewable Energy Sources Wide range of cable solutions (onshore, offshore, floating OFW parks) Evaluation of expansion to OFW floating metallic structures Electricity & Power Connections CCS Subsea connections: leading position Landmark awar
Slide 10: Key Strengths
- 02 KEY STRENGTHS Co CENERGY HOLDINGS
Slide 11: Key Strengths
Key Strengths Leading position in energy transmission /01 in a growing electrification market Well-invested and vertically integrated asset base /02 with capacity expansion potential Established technological capabilities /03 with a longstanding commitment to innovation /04 Clearly defined strategy
Slide 12: Fundamental Long-term Trends Driving Global Energy Transition
Fundamental Long-term Trends Driving Global Energy Transition 01 Resulting in Increased Demand for Cables and Pipes Increasing Global Regulatory Support for Emerging New Energy Significant Investment Demand for Energy Green Transition Technologies in Infrastructure • Global population reached • 147
Slide 13: Cables: Sophisticated and Technologically Advanced Manufacturing Plants
Cables: Sophisticated and Technologically Advanced Manufacturing 02 Plants With >€820m Invested To Date since 2012 • Key facility strategically located close to the sea, with its own port • Vertically integrated facilities to optimise distribution and minimise cost base • Situated in low-cost Europe
Slide 14: Capacity Expansion to Execute on Record Backlog
02 Capacity Expansion to Execute on Record Backlog Deep Dive: Corinth Plant Deep Dive: Thiva Plant HV & EHV Offshore Cables MV & HV Onshore Cables • Two-year investment program commenced in early 2023 to address • Expansion program aimed at growing onshore cable capacity to serve growing demand for
Slide 15: Expansion to Capture the US Opportunity
02 Expansion to Capture the US Opportunity Clear Rationale for US Expansion Investing in a State-of-the-Art Facility to Capitalise on US Opportunities • Large and fast-moving market, with similar long-term megatrends to our existing core markets • Capacity constraints from local players with very lo
Slide 16: Steel Pipes: Vertically Integrated Thisvi Plant Providing End-to-End Solutions
Steel Pipes: Vertically Integrated Thisvi Plant 02 Providing End-to-End Solutions All-in-One Location for Cenergy’s Steel Pipes Activities • Scale facility with total land area of 496,790m2 and building area of 121,171m2 Port • Broad portfolio capabilities: onshore / offshore pipelines, hollow Dedic
Slide 17: Advanced Technological Capabilities
03 Advanced Technological Capabilities Leading Technological Capabilities Landmark Projects Long Continuous Length Submarine Cables Complex Turnkey Project Solutions of up to 500kV Dogger Bank project: between 2021-2025, the Cables Segment will supply ~900km of 66kV inter-array cables and accessorie
Slide 18: Clearly Defined Strategy to Drive Growth and Profitability
04 Clearly Defined Strategy to Drive Growth and Profitability 3 Key Pillars to Cenergy’s Strategy Value over Volume Grow Export Sales Optimising Operational Performance • Focus on high value-added products • Execute on new Maryland US facility • Automation across the factory • HV/EHV subsea and land
Slide 19: Financials
Pa 03 FINANCIALS Co CENERGY HOLDINGS
Slide 20: Solid Track Record Of Growth and Profitability
05 Solid Track Record Of Growth and Profitability Cables Segment Steel Pipes Segment Cenergy Holdings Group YoY 9% 17% 26% -1% 14% 10% Revenue Growth % 1,796 1,224 1,628 1,047 1,426 964 581 573 Revenue 462 (€m) 2022 2023 2024 2022 2023 2024 2022 2023 2024 EBITDA 11.3% 14.4% 14.7% 6.1% 11.0% 16.4% 9.
Slide 21: Strong Continued Momentum: Current Trading
05 Strong Continued Momentum Current Trading Adjusted EBITDA Turnover Profits after tax (%) as percentage of revenue +23% +8% 1,546 +35% 1,170 1,260 +34% 261 +47% 194 (16.9%) +113% 145 (15.4%) 148 (12.4%) 100 47 9M 2023 9M 2024 9M 2025 9M 2023 9M 2024 9M 2025 9M 2023 9M 2024 9M 2025 CENERGY HOLDINGS
Slide 22: Strong Continued Momentum: Solid Order Backlog
05 Strong Continued Momentum Solid Order Backlog providing visibility for further increase Dec 2022 Dec 2023 €2.00bn €3.15bn Dec 2024 Dec 2021 €3.44bn €1.00bn Diversified backlog Per region Per application Cables Steel Pipes Cables Steel Pipes Rest of world Rest of world Greece Americas Greece Other
Slide 23: Disciplined Balance Sheet to Facilitate Major Ongoing Capex Plan
05 Disciplined Balance Sheet to Facilitate Major Ongoing Capex Plan Net Debt Net Debt / EBITDA Amounts in €m 494 343 2.0x JUN 24 0.6x DEC 24 1.1x 152 JUN 25 JUN 2024 DEC 2024 JUN 2025 CENERGY HOLDINGS | NOVEMBER 2025 22
Slide 24: Delivering returns
05 Delivering returns Dividends / Payout ratio1 Share price2 evolution (€ / share) a-ROCE3 Amounts in €/share 14.70 +75% 0.14 (21.3%) +60% 0.08 (20.9%) 15.4% 21.0% 26.3% 28.0% 0.05 (15.7%) 9.39 2022 2023 2024 Dec Nov 2022 2023 2024 2025 2024 2025 9M 3Adjusted Return on Capital Employed (a-RoCE): 1To
Slide 25: Updated FY2025 Guidance & Medium-Term Financial Ambitions
Updated FY2025 Guidance & Medium-Term Financial Ambitions FY2025 Guidance Medium - Term Financial Ambitions 1 Adjusted EBITDA 2 range Amounts in € million 335 350 + 23 % / +2 9 % 335 - 350 >12% p.a. €380 - 420m Organic Revenue Growth Adjusted EBITDA 2 272 214 2023 2024 2025E Excludes contribution fr
Slide 26: Disclaimer
Disclaimer This corporate presentation and accompanying discussion (together with any materials, oral commentary or question and answer session delivered together herewith, the “Presentation”) have been prepared by Cenergy Holdings S.A. (the “Company”, and together with its consolidated subsidiaries
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