H+h International A/s · OMXCOP:HH
H+h International A/s — FY2025 Earnings Presentation
15 slides from H+h International A/s's earnings presentation, Mar 4, 2026
Slide 1: Q4 and Annual Report 2025
H+H International A/S Q4 and Annual Report 2025
Slide 2: Forward-looking statements
Forward-looking statements This presentation contains forward-looking statements. Such statements are subject to risks and uncertainties, as various factors, many of which are beyond the control of H+H International A/S, may cause actual developments and results to differ materially from the expecta
Slide 3: Key numbers 2025
Key numbers 2025 Financial Sustainability Organic growth EBITDA before special items Free cash flow Climate – Reduction in Percent DKKm DKKm scope 1 and 2 emissions 0% 291 -61 3% Sales volume fell by 1% as a result of In 2025, EBITDA before special items was Free cash flow was negative DKK 61 We ach
Slide 4: Germany+ still weighing on Group results
Germany+ still weighing on Group results Key takeaways Indexed building permits across our markets (2021 = 100) UK Poland Germany ▪ UK, PL and CH showing strong performance, despite still 20% 130 lower building activities than in 2021 120 110 ▪ Result can be seen, when adjusting 100 Group earnings:
Slide 5: Building on regional strengths in Germany
Building on regional strengths in Germany Focus on developing profitable regional positions Key priorities From 2022 To 2025 ▪ In the last three years we have delivered massive cost # of plants 15 11 savings of almost 200m DKK in Shifts Products DE Price per m3 (DKK) 1.115 1.161 Pricing ▪ New region
Slide 6: UK, Poland and CH showing strong performance
UK, Poland and CH showing strong performance HOME (H+H Operating Model for Excellence) is delivering Key achievements and focus Net hour improvement 2023-2025 ▪ As a manufacturing company operational excellence is key to our business success 130 114 118 ▪ Since the launch of HOME we are continuously
Slide 7: Stable development in permits building a solid foundation for 2026
Stable development in permits building a solid foundation for 2026 UK registrations/Building Permits in '000 3m rolling y/y (%) United Kingdom Poland Germany (CWE) 30 50% 40 50% 40 40% 25 30% 35 25% 30 20% 20 30 10% 15 25 0% 20 0% -10% 10 20 -25% 10 -20% 5 -30% 15 0 -50% 10 -50% 0 -40% 2022 2023 202
Slide 8: Lower volumes in UK drive negative organic growth for Q4
Lower volumes in UK drive negative organic growth for Q4 Volumes by quarter (Thousand m3) Revenue by quarter DKKm. Revenue growth (%) UK Poland CWE -3% -6% 791 719 738 763 702 649 675 694 673 611 237 247 206 210 183 212 222 236 197 209 246 253 260 255 219 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q4 2
Slide 9: Margin performance supported by stock build
Margin performance supported by stock build Gross Profit (DKKm) Gross Margin (%) 350 30 300 25% 25 24% 250 22% 22% 22% 20 200 179 164 15 155 150 146 135 10 100 5 50 0 0 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4 2025 9 | Annual Report 2025
Slide 10: Cash flow driven by stock build and planned investments
Cash flow driven by stock build and planned investments FY 2025 Free cash flow development (DKKm) 291 ▪ Cash flow driven by planned stock (51) build ▪ Upgrade of Pulawy plant in PL (95) ▪ Pr. 31/12 2025 Net interest-bearing debt was DKK 802 million compared to DKK 682 million last (26) 119 year. (48
Slide 11: Weather impacting financial outlook for 2026
Weather impacting financial outlook for 2026 ▪ Severe weather delays site activity, temporarily reducing product off-take while some plants were closed. ▪ Around 25% volume loss in Q1 significantly impacting topline and plant efficiency ▪ EBIT before special items impact of around DKK 70 million low
Slide 12: Financial outlook for 2026
Financial outlook for 2026 Organic growth EBIT before special items (DKKm) -5% to 0% 50 - 100 Key assumptions for the financial outlook for 2026 • The year began with unusually severe winter weather, which significantly reduced sales across all markets and is expected to negatively impact EBIT befor
Slide 13: Key takeaways
Key takeaways (1) Strong performances in Poland, the UK, and Switzerland, all of which have exceeded the 10% EBIT margin. (2) Germany continues to present challenges which led to further restructuring in 2025. Key focus is to drive commercial transformation, become cash neutral and facilitate consol
Slide 14: Questions and answers
H+H “PARTNERS IN WALL BUILDING
Slide 15: For further information, please contact
For further information, please contact Niclas Bo Kristensen Head of Investor Relations and Treasury niclas.kristensen@HplusH.com H+H International A/S Lautrupsgade 7, 5th Floor 2100 Copenhagen Ø Denmark +45 35 27 02 00 info@hplush.com www.hplush.com