Slide 1: FY Results 2024
Solutions Ye { r £ Solutions For New Technologies \ 7 ri A \ FY RESULTS
Slide 2: Disclaimer
DISCLAIMER This presentation, the presentation materials and discussion may contain certain forecasts, projections and forward-looking statements – that is statements related to future, not past, events – in relation to, or in respect of, the financial condition, operations or businesses of Solution
Slide 3: Today's Presenters
TODAY’S PRESENTERS Gianbeppi Fortis Amaury Boilot Chief Executive Officer Group General Secretary 3
Slide 4: 2024 Highlights
2024 HIGHLIGHTS Gianbeppi Fortis, CEO 4
Slide 5: Providing our customers with solutions for new technologies
PROVIDING OUR CUSTOMERS WITH SOLUTIONS FOR NEW TECHNOLOGIES France: S30 takes part in construction of Spain: EVC contract with Atlante Belgium: FTTH partnership with Belgium: electrical grid services Gueugnon floating solar power plant Wire and Telenet contract with Fluvius France: IT services at th
Slide 6: Continued margins increase, significant improvement in cash generation
CONTINUED MARGINS INCREASE SIGNIFICANT IMPROVEMENT IN CASH GENERATION Slight revenue decrease reflecting increased selectivity -5.8% to € 996m, priority to margins over revenue growth Continued margin improvement Adjusted EBITDA margin: 7.5%, up 40 bps Adjusted EBITDA up 0.7% to € 75.1m despite reve
Slide 7: Selectivity in connectivity, continued expansion in energy
SELECTIVITY IN CONNECTIVITY, CONTINUED EXPANSION IN ENERGY REBALANCING OUR MIX FY24 revenue breakdown € -61.0m (-5.8%) 1057.0 110.1 +6.1 +34.0 996.0 11% Q4: 13% -101.2 Total: 732.2 153.6 € 996.0m 74% 15% Q4: 68% Q4: 19% -12.1% +5.9% +28.5% Q2 2023 Connectivity Tech Energy Revenue - 2023 Connectivity
Slide 8: Energy: a wide array of capabilities
ENERGY: A WIDE ARRAY OF CAPABILITIES STRONG GROWTH DRIVER GOING FORWARD Smart meters Solar EV charging Grid services #1 installer of smart meters in Key player in installation of >150 active clients across Europe Successful diversification in 2024 Europe with >11m deployed photovoltaic power units,
Slide 9: Acceleration of ramp-up in Germany
ACCELERATION OF RAMP-UP IN GERMANY STRONG GROWTH DRIVER GOING FORWARD Outstanding growth with adjusted EBITDA Connectivity driving the growth Large opportunities in Energy margins above Group average in 2024 ✓ Leveraging Xperal +33.6% ✓ S30 trusted end-to-end acquisition partner to the “big 6” telco
Slide 10: Further improvement in adjusted EBITDA margin in 2024
FURTHER IMPROVEMENT IN ADJUSTED EBITDA MARGIN IN 2024 SELECTIVITY STRATEGY BEARING FRUIT 7.5% ▪ Benelux: double-digit 2024 Adjusted EBITDA margin margin maintained, swift 7,1% 7,5% adaptation to temporary +40 bps slowdown in Connectivity vs. 2023 5,2% ▪ France: strong improvement driven by increased
Slide 11: 2024 Financial Results
2024 FINANCIAL RESULTS Amaury Boilot, Group General Secretary
Slide 12: Income statement highlights
INCOME STATEMENT HGHLIGHTS CONTINUED IMPROVEMENT IN ALL PROFITABILITY KPIs € millions FY 2024 FY 2023 Change 24/23 Revenue 996.0 1 057.0 -5.8% Operational costs 826.1 887.9 -7.0% As % of turnover 82.9% 84.0% Central org. costs 94.8 94.8 - As % of turnover 9.5% 9.0% Adjusted EBITDA(1) 75.1 74.6 0.7%
Slide 13: Adjusted EBITDA – Benelux
ADJUSTED EBITDA – BENELUX DOUBLE-DIGIT MARGIN MAINTAINED AMID TEMPORARY SLOWDOWN Adjusted EBITDA -14.9% 13,9% 30,0% 12,9% 45,0 43,6 12,0% 25,0% 40,0 9,7% 10,0% 10,0% ▪ Double-digit margin 37,1 20,0% sustained through the year 35,0 despite impacts from delays 15,0% 11,4% in fiber roll-out since Q2 30
Slide 14: Adjusted EBITDA – France
ADJUSTED EBITDA – FRANCE MARGIN INCREASE DRIVEN BY SELECTIVITY AND MIX Adjusted EBITDA -3.9% 9,6% 9,7% 9,2% 8,5% ▪ Increased selectivity in 7,9% 37,0 Connectivity bearing fruit 35,5 14,0% 35,0 34,1 12,0% ▪ Positive impact from ramp-up of 33,0 9,5% Energy activities 8,8% 10,0% 31,0 8,0% 29,0 1,0% ▪ C
Slide 15: Adjusted EBITDA – Other Countries
ADJUSTED EBITDA – OTHER COUNTRIES UPTICK DRIVEN BY GERMANY AND ITALY Adjusted EBITDA +195% 23,0 14,0% 7,5% ▪ Strong performance in Germany 18,0 16,3 12,0% 10,0% ▪ Good margins in Poland, slightly 4,8% 4,9% 13,0 improved in 2024 8,0% 3,6% 6,2% 8,0 6,0% ▪ Tangible improvements in Italy: risk 5,5 2,0%
Slide 16: Ongoing recovery of adjusted net income group share
ONGOING RECOVERY OF ADJUSTED NET INCOME GROUP SHARE Financial result: € millions FY 2024 FY 2023 ▪ Interest expense from bank debt: €7.2m, compared to €5.4m in 2023 ▪ Interest expense from IFRS 16 lease debt: €3.2m, compared to €1.7m in Adjusted EBIT 28.4 22.6 2023 ▪ Adjustment of value of contingen
Slide 17: Significant improvement in cash generation
SIGNIFICANT IMPROVEMENT IN CASH GENERATION FCF STRONGLY UP; NET FCF (POST LEASES) TURNS POSITIVE in €m: € millions 2024 2023 40,2 Cash Flow From Operations 56.6 60.3 Change in WC 1.6 -26.2 13,4 Capex -18.0 -20.7 5,9 Free Cash Flow1 40.2 13.4 Lease payments -34.3 -30.4 -17,0 2023 2024 Net Free Cash F
Slide 18: 2024 Cash Generation
2024 CASH GENERATION Net free cash-flow: € 5.9m Free cash-flow: € 40.2m 56,6 1,6 -18,0 118,2 -34,3 -3,6 96,3 -23,1 -1,1 Better DSO and customer advance Earn-out Reimbursement payments payment of loans (net) €-3.5m €-14.3m Lower revenue in H2 Interest paid Acquisitions of Decrease in factoring €-6.9m
Slide 19: Solid financial structure
SOLID FINANCIAL STRUCTURE €0.8m Equity 124.6 Equity 108.1 Net bank debt at end Dec. 2024 Fixed assets Fixed assets 220.9 214.4 (excluding IFRS 16 lease debt) Provisions 38.2 vs. €(5.7)m at end Dec. 2023 Provisions 47.3 IFRS 16 Lease Debt 68.8 IFRS 16 Lease Debt 76.4 Debt on future earn outs & €73.8m
Slide 20: Corporate Social Responsibility
CORPORATE SOCIAL RESPONSIBILITY Amaury Boilot, Group General Secretary
Slide 21: 2024 Highlights
2024 HIGHLIGHTS Updated double Launched a new ESG materiality assessment & E-learning module ESG strategy Increased share of Improved carbon taxonomy-aligned footprint management activities Integrated new CSRD-aligned annual compliance risk report management tool 21
Slide 22: 2024 Key Achievements
2024 KEY ACHIEVEMENTS ENVIRONNEMENTAL -8.3% absolute reduction in Scope 1 & 2 GHG emissions (-2.7% intensity) 11.4% of 2024 revenue aligned with EU Taxonomy vs. 8.0% in 2023 SOCIAL 0.65 injury severity rate vs. 0.67 in 2023; uninterrupted reduction since 2021 29.4 hours of training per employee vs.
Slide 23: 2025 Objectives
2025 OBJECTIVES ENVIRONNEMENTAL SOCIAL GOVERNANCE ▪ Further reduce Carbon Footprint ▪ Decrease injury Severity ▪ Manage at least 95% of Intensity* by 8.8% compared to rate** to under 0.65 at group level) subcontractors on mySupplace 2024 (Scope 1 & 2) platform ▪ Maintain high number of training hour
Slide 24: Outlook & Conclusion
OUTLOOK & CONCLUSION Gianbeppi Fortis, CEO 24
Slide 25: On track to deliver our 2026 objectives
ON TRACK TO DELIVER OUR 2026 OBJECTIVES BENELUX FRANCE GERMANY REST OF EUROPE Resume growth trajectory Triple Energy revenue Triple revenue to Portfolio management in 2025 to c. €150m in 2026 (vs. 2023) €150m to €200m in 2026 approach Maintain selectivity and vs. €64m in 2023 seize new opportunities
Slide 26: Financial Calendar
FINANCIAL CALENDAR 2025 Q1 Revenue – Press release April 29, 2025 after market close 2025 H1 Results – Press release & conference call September 17, 2025 after market close 2025 Q3 Revenue – Press release November 5, 2025 after market close 26
Slide 27: Q&A
Q&A PLEASE TYPE IN YOUR QUESTION BY USING THE BUTTON ON THE READER 27
Slide 28: Conclusion – 2024 Wrap-up
CONCLUSION – 2024 WRAP-UP Continued improvement in margins Strong focus on profitability, prioritized over revenue growth Germany and Energy services confirming their status as key growth drivers S30 model successfully deployed on promising markets Improved cash generation, solid balance sheet Maint
Slide 29: Appendix
Appendix Solutions lutions Fe Soli ‘or New Technologies
Slide 30: -5.8% revenue decrease in 2024 reflecting priority given to margins
-5.8% REVENUE DECREASE IN 2024 REFLECTING PRIORITY GIVEN TO MARGINS € -61.0m (-5.8%) Organic change: € -67.3m (-6.4%) 1057.0 +2.5 +3.8 996.0 -10.6 -44.3 -12.3 -2.8% -11.0% -4.5% Benelux - Organic Other Countries -… FX 9M 2023 France - Organic Acquisitions Revenue - 2023 FY23 Benelux France Other Acq
Slide 31: 2024 revenue by geography and by activity
2024 REVENUE BY GEOGRAPHY AND BY ACTIVITY -5.8% -5.8% 1057.0 1057.0 996.0 Energy 996.0 119,6 +28.4% 153,6 381,6 104 Benelux Technology -2.6% 371,6 +5.9% 110,1 Other Countries 272,1 -3.1% 263,6 833,4 Connectivity 732,2 -12.1% 403,3 France -10.5% 360,8 2023 2024 2023 2024 France Benelux Other Countrie
Slide 32: www.solutions30.com
21 rue du Puits Romain L-8070 Bertrange, Grand Duchy of Luxembourg Investor.relations@solutions30.com Solutions 30 is listed on Euronext Paris Mnemo: S30 www.solutions30.com