Brockhaus Technologies Ag · XETR:BKHT
Brockhaus Technologies — Q2 2025 Earnings Presentation
15 slides from Brockhaus Technologies's earnings presentation, Aug 14, 2025
Slide 1: Elevating Champions
Elevating Champions Earnings Call Q2 2025 August 14, 2025
Slide 2: Disclaimer
Disclaimer This document is being presented solely for informational purposes and should not be treated as Brockhaus Technologies does not guarantee that the assumptions underlying the forward-looking giving investment advice and does not constitute or form part of, and should not be construed as, s
Slide 3: Summary H1 2025
Summary H1 2025 Selected group financials Summary (€ million) +2.6% 111.9 Revenue growth mainly driven by the Revenue 109.0 significant increase in revenue from the resale of bikes at the end of the lease term at Bikeleasing -33.5% Bikeleasing invests in its long-term growth Adjusted strategy to tra
Slide 4: Free cash flow impacted by refinancing backlog
Free cash flow impacted by refinancing backlog Free cash flow before tax FCF and refinancing backlog ▪ Due to seasonality in the bike leasing business and the resulting refinancing backlog, most of the Group’s operating cash flow occurs in the second half of the year H1 2025: €-22.7 million € Backlo
Slide 5: Revenue by quarter
Revenue by quarter -1.3% 62.4 61.6 56.4 +10.9% 32.4 35.9 21.4 Q1 Q2 Q3 Q4 +12.6% -10.6% 10.0 7.9 7.5 7.3 7.0 6.5 Q1 Q2 Q3 Q4 (€ million) IHSE Bikeleasing Prior-year period 5
Slide 6: Revenue by region
Revenue by region +2.9% 94.7 97.5 - - - - EMEA Americas APAC +2.6% 8.2 8.4 -1.1% 5.2 5.2 -4.8% 0.8 0.8 EMEA Americas APAC (€ million) IHSE Bikeleasing Prior-year period 6
Slide 7: KPIs by segment
KPIs by segment Central Functions BKHT HR Benefit & Mobility Platform Security Technologies and Consolidation Group [€ thousand] H1 2025 H1 2024 H1 2025 H1 2024 H1 2025 H1 2024 H1 2025 H1 2024 Revenue 97,469 94,732 14,392 14,277 - - 111,860 109,009 Revenue growth 2.9% 0.8% 2.6% Gross Profit 58,667 6
Slide 8: Leverage well below the target level
Leverage well below the target level Net debt calculation as per H1 2025 Highlights (€ million) Leverage ratio of 1.01x well ~1.01x below target value of ~2.5x Net debt / 76.7 adj. EBITDA (LTM) 19.3 53.0 50.7 Net debt from loans slightly (26.0) (16.9) higher compared to Dec 31, € 2024, while adj. EB
Slide 9: Bikeleasing – Operational deep dive
Bikeleasing – Operational deep dive BLS seasonality is typically balanced between H1 and H2 Corporate customers @ BLS increased to ~78,000 (+17% YoY) with 3.9 million connected employees (+8% YoY) 47% 42% H2 48% H1 52% 53% 58% ~71,000 bikes facilitated in H1 2025, reflecting a YoY decline, primarily
Slide 10: Introduction of a partner participation model
Introduction of a partner participation model Fair system for all parties involved: LEVEL 3 PERFORMANCE o LEVEL 3: Retailers actively supporting BLS in generating new PREMIUM business eligible to earn more than before (+3% PREMIUM) From the 21st bike 100% ordered by corporate o LEVEL 1 & 2: Retailer
Slide 11: IHSE – Operational deep dive
IHSE – Operational deep dive (€ million) Revenue grew slightly YoY; broadly in line with average H1 revenue over the past four 17.7 years Ø 14.8 14.9 14.4 14.3 12.7 Stable development across all regions (EMEA, Americas, APAC) as compared to H1 2024 Increased traction in the Defense segment € (44% of
Slide 12: IHSE – Operational deep dive
IHSE – Operational deep dive IHSE Secure extenders approved for the NATO Information Assurance Product Catalogue (NIAPC), offering highest level of protection for all NATO data classifications IHSE announces new Draco XStreme extender generation, based on a completely new hardware platform and imple
Slide 13: Group Forecast FY 2025
Revenue €225m - €235m Group (2024: €204m | +10% to +15%) Forecast FY 2025 Adj. EBITDA €50m - €55m (2024: €65m | -15% to -23%) 13
Slide 14: Happy to answer your questions
Q&A Happy to answer your questions 14
Slide 15: Brockhaus Technologies AG contact details
BROCKHAUS TECHNOLOGIES AG Thurn-und-Taxis-Platz 6 60313 Frankfurt am Main, Germany Phone: +49 69 20 43 40 90 Fax: +49 69 20 43 40 971 E-Mail: ir@brockhaus-technologies.com Web: www.brockhaus-technologies.com IR Distribution List | Newsletter | Follow us on Executive Board: Marco Brockhaus (Chair), D
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