Cenergy Holdings Sa · EURONEXT:CENER
Cenergy Holdings Sa — FY2024 Earnings Presentation
25 slides from Cenergy Holdings Sa's earnings presentation, Mar 6, 2025
Slide 1: Cenergy Holdings FY2024 Results
CENERGY H OL OTING S SS oé pi | ta
Slide 2: Highlights
2024 was a significant milestone in the HIGHLIGHTS history of Cenergy Holdings, as alongside We continue to capitalize on the growing demand in the energy sector. The contribution of cables projects to our consistent upward drive, came the the Group’s profitability increased with the successful exec
Slide 3: Group Key Financial Figures
Group Key Financial Figures 01 FY 2024 Financial Results 4
Slide 4: Revenue at EUR 1.80 billion (+10% y-o-y)
01/ Revenue at EUR 1.80 billion (+10% y-o-y) GROUP KEY FINANCIAL FIGURES Revenue per major product line +156 +1 +42% 0% +207 532 533 +57% +75 376 +26% 572 365 289 Cables projects Steel pipes projects 2022 2023 2024 2022 2023 2024 +24 +4% -66 -11% 568 592 526 -29 -52% -4 57 -13% 28 24 Cables products
Slide 5: Geographical dispersion of sales
01/ Geographical dispersion of sales GROUP KEY FINANCIAL FIGURES Revenue per country / region 2022 2023 2024 Rest of the world Rest of the world 9% 15% Greece Rest of the world 24% 23% Greece Greece 31% 31% Americas 18% Americas 12% 1,426 1,628 1,796 Americas 5% 42% 42% 48% Europe Europe Europe Amou
Slide 6: Record-high margins
02/ Record-high margins GROUP KEY FINANCIAL FIGURES Amounts in EUR million Turnover Adjusted EBITDA Adjusted EBITDA Margins +10% +14% 1,796 1,628 1,426 +27% +56% 272 15.1% 13.1% 214 9.6% 137 2022 2023 2024 2022 2023 2024 2022 2023 2024 FY 2024 Financial Results 7
Slide 7: New record for order backlog – per region
03/ New record for order backlog – per region GROUP KEY FINANCIAL FIGURES Cables Steel Pipes Dec 2022 Dec 2023 Americas Rest of world Rest of world Greece Greece €2.02bn €3.15bn 3% 10% 3% 1% 2% Americas 21% Dec 2021 Dec 2024 €3.01bn €0.43bn €1.00bn €3.44bn 75% Europe 85% Strong commercial momentum E
Slide 8: New record for order backlog – per application
03/ New record for order backlog – per application GROUP KEY FINANCIAL FIGURES Cables Steel Pipes Dec 2022 Dec 2023 €2.02bn €3.15bn Other 15% Hydrogen CCS 20% 22% Dec 2021 Dec 2024 €3.01bn 50% €0.43bn €1.00bn €3.44bn 35% Wind offshore Interconnections 58% Strong commercial momentum Gas fuel New proj
Slide 9: PBT at EUR 179m / Net profit at EUR 139m
04/ PBT at EUR 179 m / Net profit at EUR 139m GROUP KEY FINANCIAL FIGURES Amounts in EUR million 11.6 4.3 2.8 2.7 1.1 179.2 29.7 -0.2 38.2 -6.2 95.4 Earnings Cables Steel Pipes SG&A Net finance Income from Impairment Fixed assets Share of Other Earnings before tax gross profit gross profit expenses
Slide 10: Delivering returns
04/ Delivering returns GROUP KEY FINANCIAL FIGURES Dividends (€ / share) Share price* evolution (€ / share) a-ROCE* (Payout ratio*) +75% 9.39 0.14 (21.3%) +60% 7.16 0.08 (20.9%) 15.4% 21.0% 26.3% 0.05 (15.7%) 2022 2023 2024 Dec Dec 2022 2023 2024 2023 2024 *Total dividend declared / Profit after tax
Slide 11: Free Cash Flow Generation
05/ Free Cash Flow Generation GROUP KEY FINANCIAL FIGURES Amounts in EUR million FCF = €48m 104.6 -25.0 276.2 8.1 -62.3 200.0 29.5 1.4 442.5 -12.8 -1.1 2.9 6.3 183.4 -253.4 -15.2 Cash in 1 EBITDA Non cash Changes in Income Payments CAPEX Proceeds Other Dividends Share Share Treasury Debt FX effect C
Slide 12: Disciplined Balance Sheet
05/ Disciplined Balance Sheet GROUP KEY FINANCIAL FIGURES Amounts in EUR million Net debt CAPEX Working Capital (Net Debt / EBITDA) -61 US plant 438 28 (3.3x) -225 Offshore cables 378 (1.9x) Steel pipes -102 41 214 121 259 152 -119 (0.6x) 113 68 Onshore cables units 2022 2023 2024 -6 2022 2023 2024
Slide 13: Overview per segment
02 Overview per segment FY 2024 Financial Results 14
Slide 14: Cables
Cables 01/ Efficient OVERVIEW PER SEGMENT execution of high-profile projects / High-capacity utilization of all production lines Adjusted EBITDA Turnover Earnings Before Taxes Working Capital Net Debt (%) as percentage of revenue 19% +59% +39% 1,224 179 (14.7%) 115 335 1,047 150 163 304 314 964 (14.
Slide 15: Steel Pipes
Steel Pipes 02/ Strong OVERVIEW PER SEGMENT momentum leading the segment to record-high profitability margins Adjusted EBITDA Turnover Earnings Before Taxes Working Capital Net Debt (%) as percentage of revenue 46% +166% 581 573 94 126% (16.4%) 63 51 104 462 64 37 (11.0%) 74 +231% 28 24 (6.1%) 7 6 1
Slide 16: Looking forward
Looking forward 03 FY 2024 Financial Results 17
Slide 17: 2024: a flagship year
• 2024: a flagship year • New awards + Good execution = Stronger Backlog • Investment program on track • Growth potential of European & US markets • Optimistic about future financial prospects
Slide 18: Steel Pipes
Steel Pipes A truly global business World class manufacturing capabilities Sustainability on all fronts Diversification in applications & in continents Positive outlook, commercially and financially
Slide 19: Committed to deliver
Committed to deliver Medium-Term Financial Ambitions FY2025 A-EBITDA Base year 2023 Organic Revenue Growth > 12% p.a. 300 330 Amounts in EUR million Adjusted EBITDA € 380 – 420m +10% / +21% 300 - 330 272 214 2023 2024 2025E 20 FY 2024 Financial Results
Slide 20: Financial Calendar
FINANCIAL CALENDAR Publication of 2024 Ordinary General Ex-Dividend date of Dividend payment of Half Yearly 2025 results Annual Report Meeting 2025 fiscal year 2024 fiscal year 2024 Conference Call 28 May 2025 25 June 2025 17 September 2025 9 April 2025 27 May 2025 24 June 2025 26 June 2025 18 Septe
Slide 21: The world runs on Cenergy
CO CENERGY rooming) | N ces CORINTH ones f = A PIPEWORKS Poncucs
Slide 22: Appendix
Appendix FY 2023 Financial Results 23
Slide 23: Consolidated Statement of Profit & Loss 2024
Consolidated Statement of Profit & Loss 2024 APPENDIX Segmental information For the year ended 31 December Cables Steel Pipes Other activities Cenergy Holdings Amounts in € thousand 2024 2023 Amounts in € thousand Revenue 1,796,448 1,627,724 2024 2023 2024 2023 2024 2023 2024 2023 Cost of sales (1,5
Slide 24: Consolidated Statement of Financial Position 2024
Consolidated Statement of Financial Position 2024 APPENDIX Amounts in € thousand 31 Dec 2024 31 Dec 2023 EQUITY Share capital 131,669 117,892 Share premium 232,059 58,600 Treasury shares (1,127) - Reserves 36,205 42,741 Retained earnings 312,047 185,804 Amounts in € thousand 31 Dec 2024 31 Dec 2023
Slide 25: Disclaimer
Disclaimer APPENDIX The information contained in this corporate presentation (CP) has been prepared by Cenergy Holdings (the Forward Looking Statements Company). It is based on historical financial data and other information already publicly disclosed by the Certain statements in the CP are forward-