Arbonia Ag · SIX:ARBN
Arbonia — HIT – Hamburger Investorentage 2026
35 slides from Arbonia's conference presentation, Aug 27, 2026
Slide 1: HIT – Hamburger Investorentage
HIT – Hamburger Investorentage Uwe Schiller (CFO)
Slide 2: Agenda
Agenda Arbonia one strategy Highlights H1 2026 Highlights H1 2026 Market update Market update Financial results Financial results Outlook and Guidance Outlook and Guidance HIT - Hamburger Investorentage | August 2026 2
Slide 3: Arbonia's long and eventful history 1874–2003
Arbonia's long and eventful history… 1874 – 2003 Initial Public Offering (IPO) 1874 1973 1988 2003 Event Edgar Oehler takes over as Founded in Arbon by Merged into Going public of the company majority shareholder from the Franz Josef Forster Arbonia-Forster AG "Züllig" heirs Main products Steel tube
Slide 4: Arbonia's long and eventful history 2014–2017
Arbonia's long and eventful history… 2014 - 2017 ALEXANDER VON WITZLEBEN 2014 2015 2016 2017 Event Alexander von Witzleben Sale of Forster Profile systems & Sale of the kitchen business and Merger with Looser Holding takes over as Chairman and sale of Coatings and Industrial Artemis' entry → Rebrand
Slide 5: Towards the leading door producer in Europe
… towards the leading door producer in Europe 2021 – 2025 SALE WINDOWS DIVISION SALE CLIMATE DIVISION ARBONIA ONE 2021 2023 2024 2025 Event Launch Arbonia one – Sale of the Windows business Arbonia announces the sale Arbonia sells the HVAC business towards the leading door for CHF 345 M of the HVAC
Slide 6: Arbonia one – sites and revenue development
Arbonia one – sites and revenue development Arbonia one – Market leader in continental Europe Arbonia's1 production sites Market presence Standard doors Special doors Glass doors Core markets Weinsheim (DE) Roggwil (CH) 1 Seiça (PT) 5 Dagmarsellen (CH) 1 1 1.3 M doors / year 100 K doors / year 80 K
Slide 7: Agenda
Agenda Arbonia one strategy Arbonia one strategy Highlights H1 2026 Market update Market update Financial results Financial results Outlook and Guidance Outlook and Guidance HIT - Hamburger Investorentage | August 2026 7
Slide 8: Overview
Overview Financials CHF 318.2 M CHF 23.8 M 7.5% CHF 12 M Capex H1 2026 net revenues EBITDA (reported) EBITDA margin (rep.) (3.6% of NR, -31% vs. PY) +2.3% organic growth CHF 23.8 M 7.5% EBITDA (adjusted) EBITDA margin (adj.) 1. Organic revenue growth of 2.3% (Wood 2.9%, Glass 0.3%), showing Arbonia'
Slide 9: H1 '26 results in perspective – improving results
H1 '26 results in perspective – improving results Revenue and profitability development by semester (in CHF M) 1 Launch of Net revenue EBITDA SAP-/ERP-effect Garant 2 new Arbonia 8% -8.8% 12.6 307.2 318.2 288.5 8.4 +23% 20.5 26.1 23.8 H2 ’24 H1 ’25 H1 ’26 H2 ’26 FC . . Start of new Arbonia • Revenue
Slide 10: SAP/ERP introduction Garant
SAP/ERP introduction Garant Significant financial impact in H1 '26 CHF M -12.6 Adjustments to Garant's reported results • The financial impact during the first six months was: Revenues Revenues CHF -12.6 M; EBITDA CHF -8.4 M compared to same period of last year Garant – • No adjustments were booked
Slide 11: Successful key sales initiatives
Successful key sales initiatives In H1 '26 Current projects • High-single digit revenue growth in H1 '26 leading to market share gains in Europe's second Wholesale largest construction market France • Launch of Dimoldura delivery express programme with local stock availability • Portfolio optimisati
Slide 12: Projects recently won and in delivery H2 '26
Projects recently won and in delivery H2 '26 Overview of reference projects (Germany and international) Hotel (D): EUR 0.7 M Hotel (HU): EUR 1.6 M Offices (D): EUR 1.4 M Government office (HU): EUR 0.8 M Hotel (D): EUR 0.2 M Apartments (D): EUR 0.2 M Multi-purpose (D): EUR 1.1 M Multi-purpose (D): E
Slide 13: Arbonia – Platform for Growth
Arbonia – Platform for Growth Market leadership in continental Europe • Extending market share by organic growth in our core and neighbouring markets by accessing new customers, market segments and sales channels • Leveraging the Arbonia platform to combine products Sales from all our factories acro
Slide 14: Cost leadership
Cost leadership Cost leadership through state-of-the-art plants and digital end-to-end processes Cost leadership: key initiatives operations Arbonia completed the ARBEX 5-year investment program • Arbonia Excellence program to improve process quality at plants for Industry 4.0, totalling: • Full mon
Slide 15: M&A – Extending market leadership
M&A – Extending market leadership Diversifying sales and adding key-competences with acquisition of Cicomol and RZB Core markets Extending our market leadership Export markets Arbonia Doors markets Integration of Cicomol RZB • Extending market share with acquisition of Cicomol, Cicomol market leader
Slide 16: Agenda
Agenda Arbonia one strategy Arbonia one strategy Highlights H1 2026 Highlights H1 2026 Market update Financial results Financial results Outlook and Guidance Outlook and Guidance HIT - Hamburger Investorentage | August 2026 16
Slide 17: Market outlook
Market outlook Construction output by country (CAGR '26f – '28f) – promising outlook in all markets where Arbonia is present ARBN core markets Residential Total building construction Arbonia ARBN export markets CAGR '26 – '28 (%) CAGR '26 – '28 (%) Total 26f Total 26f Δ rev. vs. Revenues Δ vs. Count
Slide 18: Agenda
Agenda Arbonia one strategy Arbonia one strategy Highlights H1 2026 Highlights H1 2026 Market update Market update Financial results Outlook and Guidance Outlook and Guidance HIT - Hamburger Investorentage | August 2026 18
Slide 19: H1 2026 Arbonia Group financial results – Revenues
H1 2026 Arbonia Group financial results in CHF M +3.6% Revenues 307 318 • Increased order backlog at end of 2025 and turn-around of BU Glass supported revenue growth Revenues • Organic growth of 2.3% is coming from BU Wood with 2.9% and BU Glass with 0.3% • Garant and some delayed as well as project
Slide 20: H1 2026 Arbonia Group financial results – Depr. & Amort.
H1 2026 Arbonia Group financial results in CHF M +5.7% Depreciation & Amortization • Depreciations are slightly increasing due to 28 27 capitalization of finished projects from the Depr. & Amort. 8 past investment programs, including CHP 8 Prüm • PPA amortizations almost stable (-3.6%) 18 20 H1 2025
Slide 21: Arbonia Group NWC, Capex and Free Cash Flow
Arbonia Group NWC, Capex and Free Cash Flow As reported, continuing operations (excl. Climate) in CHF M NWC Capex Free Cash Flow in % of net revenue incl. discontinued operations -15.2% -105.3% +88.5% 20 -30.9% 618 89 17 7 -17.6% 6 12 58 47 5 13 10 7 14.1% 7.4% 9.7% 7.4% 5.4% 3.6% 06 20251 12 2025 0
Slide 22: Net Debt development
Net Debt development in CHF M 184 11 173 Comments 26 • Seasonal increase in NWC compared to 26 149 146 year end 2025 132 • Year-over-Year increase mainly driven by 28 increases in receivables and inventories, 27 partially related to higher revenues, raw materials, finished goods and higher stock at
Slide 23: Agenda
Agenda Arbonia one strategy Arbonia one strategy Highlights H1 2026 Highlights H1 2026 Market update Market update Financial results Financial results Outlook and Guidance HIT - Hamburger Investorentage | August 2026 23
Slide 24: Updated 2026 guidance
Updated 2026 guidance Rising EBITDA & lower Capex to drive FCF growth Continued organic revenue growth in 2026 by leveraging: • Geographic distribution • Project business and new sales channels Revenue • Disciplined pricing policy • … and supported by catch-up effect from H1 as well as full effect o
Slide 25: Mid-term guidance (until 2029) confirmed
Mid-term guidance (until 2029) confirmed Without one-time effects and M&A and full recovery of Garant • Raise market share • Market normalisation and recovery in Germany Guidance 2029 • Growth stimulus from interest rate cuts Revenue 1 • Spare capacities after completed investment programme • Net re
Slide 26: Why Arbonia
Why Arbonia Key takeaways Building the clear market leader in Europe for doors with constant gain of market shares Established a platform for growth by accessing new markets and sales channels – strong momentum outside Germany with market share gains across key European markets and Middle East Stron
Slide 27: Appendix
s} ARBONIA Appendix
Slide 28: SAP/ERP introduction Garant – action plan and issues
SAP/ERP introduction Garant Action plan and issues Issues Action Plan Complex, fully integrated go-live – SAP, MES (machinery control) Group-wide task force with strict KPI governance and direct executive and Motis (warehouse management) launched in parallel oversight; additional SAP expertise mobil
Slide 29: Revenue breakdown Arbonia
Revenue breakdown Arbonia Including FX effects, continuing operations H1 2025 (pro-forma) 2 H1 2026 AT Others AT Others NL/BE NL/BE 3% 4% PT 2% 1% PT 2% 2% 3% 3% 6% FR 7% FR 6% CEE1 7% CEE1 45% DE 49% DE 12% ES 12% ES 17% CH 18% CH 1 CEE: Poland, Czech Republic, Hungary, Slovakia | 2 incl. revenue o
Slide 30: Germany: Current market developments
Germany: Current market developments Residential building permits Residential construction Multi-family homes 1 Single-family homes Two-family homes Number of approved residential units in Number of approved residential units Number of approved residential units Number of approved residential units
Slide 31: Development of residential construction markets
Development of residential construction markets Arbonia's main markets Germany 1 Switzerland 2 Spain 2 311 59 150 155 58 145 58 139 220 -2% 57 128 177 56 Permits 3 0% 222 236 55 +1% 109 109 198 208 55 19.6% 12.2% 5.2% 6.6% 6.4% 3.9% 2.0% 1.4% 16.7% 8.1% 5.1% 3.5% 3.3% 0.9% 0.9% 264 263 49 135 221 48
Slide 32: Interest rate development
Interest rate development 1 Arbonia's main markets In % 5 Main market developments 4 • ECB and SNB interest rates have decreased in 2025, with 117 bps one upwards revision (ECB) in 2026 199 bps 3 • DE: mortgages rates have not reacted in line with ECB interest reduction and have risen significantly
Slide 33: Germany: Market developments through 2028
Germany: Market developments through 2028 Interior doors market Development of total interior door potential in Germany until 2027 • Due to war in Ukraine, inflation, high construction costs and rising interest rates, Germany experienced a significant decline since mid-2022, especially in residentia
Slide 34: Overview of European interior doors market
Overview of European interior doors market Financial performance vs. Jeld-Wen in H1 Goal: Achieving clear market leadership Jeld-Wen Europe Arbonia Group in USD in CHF Market share 2024 Net revenues in M Org. growth Org. growth +9% of 2.0% of 2.3% Long-tail of 558.7 national door Jeld-Wen 513.5 +4%
Slide 35: Thank you!
Thank you! Contact: Investor Relations +41 71 447 45 55 ir@arbonia.com Arbonia AG Amriswilerstrasse 50, CH-9320 Arbon www.arbonia.com