Montana Aerospace Ag · SIX:AERO
Montana Aerospace — H1 2025 Earnings Presentation
15 slides from Montana Aerospace's earnings presentation, 2025
Slide 1: Montana
A MONTANA
Slide 2: Speaking to you today
SPEAKING TO YOU TODAY A KAI ARNDT C0-CEO MICHAEL PISTAUER CO-CEO & CFO A A
Slide 3: We are mission-critical in two segments
WE ARE MISSION-CRITICAL IN TWO SEGMENTS: AEROSTRUCTURES “MISSION-CRITICAL AEROSTRUCTURES FOR EVERY AIRCRAFT IN THE SKY” ENERGY “POWERING GREEN INNOVATION TO DRIVE THE ENERGY TRANSITION”
Slide 4: Net Sales H1 2024 vs H1 2025
in EURm H1 2024 H1 2025 yoy change Net Sales 719.5 820.6 +14.1% EBITDA 75.2 101.4 +34.9% (EBITDA margin %) (10.5%) (12.4%) Net Income -17.4 6.4 +23.8m CAPEX spent(1) -38.8 -41.1 -2.3m Net debt(2) 210.9 237.6 +26.7m Free Cash Flow -42.3 1.0 +43.3m Notes: (General) Financials only show Aerostructures,
Slide 5: Q2 2025 net sales of €411.9 million
in EURm - In Q2 2025, Montana Aerospace generated EBITDA margin net sales of €411.9 million (+13.0% compared to Q2 2024) 10% 11% 13% +34% - Positive net sales development mainly +13% organic driven, reflecting higher +68% volumes and market share gains in both Aerostructures and Energy segments +38%
Slide 6: Quarterly cash flow development Q2 2024 to Q2 2025
86.4 36.0 43.9 11.5 -5.4 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 144.1 19.8 26.0 -8.2 -25.0 Q2 2024 Q3 2024 Q4 2024(1) Q1 2025 Q2 2025 Notes: (1) Q4 2024 includes the proceeds from the divestment of the E-mobility segment, which was closed in Nov. 2024 6
Slide 7: LTM sales and net debt to LTM EBITDA
% LTM Sales 23.0% 24.1% 23.7% 25.1% 23.5% 365.7 353.6 387.8 375.3 342.2 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 (x) LTM EBITDA 2.5x 2.4x 1.3x 1.5x 1.3x 342.4 346.2 252.5 237.6 210.9 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 7
Slide 8: Other financial expenses rose to €35.0 million in H1 2025
in EURm Other - Other financial expenses rose to €35.0 Financial Expenses million in H1 2025, up from €6.2 million in H1 2024, primarily driven by higher foreign exchange losses, largely stemming from the 47.4 USD rate development 12.4 on Net Debt - These FX losses are predominantly non-cash of €237
Slide 9: Q2 2025 Aerostructures segment net sales of €208.6 million
in EURm - In Q2 2025, Aerostructures segment generated EBITDA margin net sales of €208.6 million (+3.7% compared to Q2 2024) 13% 15% 18% +26% - Positive net sales development mainly +4% due to higher production volumes and +69% higher sales with third party customers besides Airbus and Boeing +19% 2
Slide 10: Airbus and Boeing aircraft production and deliveries
YTD 06/24 YTD 06/25 -5% A220 28 41 316 323 306 295 34 35 33 40 A320 family 261 232 255 281 289 273 A330 13 10 Jun-22 Jun-23 Jun-24 Jun-25 A350 21 23 Wide-body Narrow-body +60% 266 280 216 50 71 B737 137 209 28 175 38 188 216 209 B767 9 14 137 Jun-22 Jun-23 Jun-24 Jun-25 B777 7 20 Wide-body Narrow-bo
Slide 11: Q2 2025 Energy segment net sales of €186.3 million
in EURm - In Q2 2025, Energy segment generated EBITDA margin net sales of €186.3 million (+13.6% compared to Q2 2024) 4% 6% 7% +31% - Positive net sales development mainly +14% due to higher production volumes and +120% continuation to benefit from exceptional tailwinds from the global energy +38% t
Slide 12: Energy segment: at the heart of the global energy transition
ENERGY SEGMENT: BEING AT THE HEART OF THE GLOBAL ENERGY TRANSITION COPPER EXCELLENCE ACROSS THE WHOLE VALUE CHAIN ASTA CNercy @Q cevernova ABB HITACHI
Slide 13: Outlook: sales and adjusted EBITDA targets
Sales increase to >EUR 1.6bn Adj. EBITDA growth to >EUR 200m Positive Net Income Positive Free Cash Flow Streamline Trade Working Capital Sales increase to ~EUR 2bn Adj. EBITDA growth to >EUR 250m 13
Slide 14: Presentation confidential, not for release or distribution
THIS PRESENTATION AND ITS CONTENTS ARE CONFIDENTIAL AND ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY JURISDICTION WHERE SUCH DISTRIBUTION IS UNLAWFUL. This
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