Bertrandt Ag · XETR:BDT
Bertrandt — Q3 2024/2025 Earnings Presentation
21 slides from Bertrandt's earnings presentation, Aug 4, 2025
Slide 1: Welcome to the Q3 2024/2025 Analyst & Investor Conferences
Welcome to the Q3 2024/2025 Analyst & Investor Conferences Markus Ruf, Björn Voss | August 2025
Slide 2: Market environment
Market environment − Environment impacted by trade disputes, geopolitical tensions, and weak economic conditions in Germany − Tariffs, slowing unit sales, customer-specific challenges led to negative sentiment in the German automotive industry (ifo), profit warnings, cost saving initiatives Analyst
Slide 3: Automotive market: Project postponements (example)
Automotive market: Project postponements (example) 3 04.08.2025 Analyst & Investor Conferences | Bertrandt AG I August 4, 2025
Slide 4: 9m 2024/2025 at a glance
9m 2024/2025 at a glance Analyst & Investor Conferences | Bertrandt AG I August 4, 2025 Total Sales Employees EBIT Free cashflow Equity EUR 742m 12,672 EUR -39m EUR +17m EUR 316m 04.08.2025 -19% yoy -1.743 9m 23/24: EUR 15m 9m 23/24: +26m Ratio: 41.5% (-12% yoy) 9m 22/23: -14m 4
Slide 5: Q3 2024/2025 at a glance
Q3 2024/2025 at a glance Analyst & Investor Conferences | Bertrandt AG I August 4, 2025 Total Sales EBIT EPS Free cashflow CapEx EUR 226m EUR -25m EUR -2.87 EUR -11m EUR 2.6m 04.08.2025 -10% qoq Q3 23/24: EUR -7m Q3 23/24: EUR -0.68 Q3 23/24: EUR -17m Q3 23/24: EUR 4.4m -23% yoy 5
Slide 6: Total sales impacted by lower capacity call-offs
Total sales impacted by lower capacity call-offs Q3 revenues down EUR -69m (-23% yoy) ▪ High prior year base, capacity reduction, short-time work, 2023/2024 2024/2025 external services (EUR -16m), underutilization, working days (qoq) Analyst & Investor Conferences | Bertrandt AG I August 4, 2025 ▪ G
Slide 7: Diversification: expansion of Aerospace/Defence business in line with group strategy
Diversification: expansion of Aerospace/Defence business in line with group strategy − Automotive revenues declined because of ongoing lower call-offs Analyst & Investor Conferences | Bertrandt AG I August 4, 2025 − New order wins at Aerospace/Defence − Strategic target of 20-25% sales outside of Au
Slide 8: EBIT development
EBIT development − Reduced capacity demand led to uneven and unfavorable capacity utilization 2023/2024 2024/2025 − All cost items reduced inline with sales trend, except for Analyst & Investor Conferences | Bertrandt AG I August 4, 2025 personnel expenses due to costs linked to short-time work 8.50
Slide 9: Heterogenous segment performance
160.959 162.569 Heterogenous segment1 136.037 133.471 148.709 159.350 139.975 125.057 performance 132.699 108.318 106.682 Digital Engineering Digital Engineering: 2022/2023 2023/2024 2024/2025 Analyst & Investor Conferences | Bertrandt AG I August 4, 2025 − Declining revenues abroad added to low cal
Slide 10: Update F3 program and test centers: mounting benefits
Update F3 program and test centers: mounting benefits Topic Status Comment ▪ Compensation scheme F3 and closure negotiated Analyst & Investor Conferences | Bertrandt AG I August 4, 2025 Redundancy ▪ Voluntary program program concluded F3 ▪ >200 single measures Infrastructure & ▪ Site closures struct
Slide 11: P&L KPIs: cost optimizations partially offset top line decline
P&L KPIs: cost optimizations partially offset top line decline Item 9m 9m (% sales) (% sales) Comment (EUR m) 2024/2025 2023/2024 Analyst & Investor Conferences | Bertrandt AG I August 4, 2025 Ongoing weak capacity call-offs in Germany and abroad. Reduced Total sales 741.983 - 921.555 - headcount an
Slide 12: Balance sheet KPIs
Balance sheet KPIs 9m 2024/2025 2023/2024 Item (EUR m) Comment (end of period) (end of period) Balance sheet total 762.584 879.538 D&A vs CapEx, WC improvement Analyst & Investor Conferences | Bertrandt AG I August 4, 2025 Working Capital (WC) 234.353 304.103 Release of working capital (trade receiv
Slide 13: Forecast for fiscal year 2024/2025
Forecast for fiscal year 2024/2025 Analyst & Investor Conferences | Bertrandt AG I August 4, 2025 Weak economic Ongoing and Capacity call-offs Q4 with more working Regulatory environment accelerated transfer still sluggish and days and additional F3+ requirements, burdening in Germany of R&D into vo
Slide 14: Revised forecast FY 2024/2025 and ambition for FY 2025/2026
Revised forecast FY 2024/2025 and ambition for FY 2025/2026 Analyst & Investor Conferences | Bertrandt AG I August 4, 2025 Total EBIT Operating EBIT Revenues FY 24/25 Cashflow FY 25/26 Significantly down yoy Significantly up yoy Significantly down yoy, Margin: 6-9% based on (FY 2023/2024: positive v
Slide 15: Summary and outlook
Summary and outlook − Changing market dynamics resulted in weaker call-offs and underutilization in Germany and abroad (France) Analyst & Investor Conferences | Bertrandt AG I August 4, 2025 − EBIT impacted by underutilization and special items − Benefits from F3 earnings improvement program and add
Slide 16: Q&A
Q&A Michael Lücke, Markus Ruf, Björn Voss 16 04.08.2025 Analyst & Investor Conferences | Bertrandt AG I August 4, 2025
Slide 17: Thank you very much for your participation!
Analyst & Investor Conferences | Bertrandt AG I August 4, 2025 Thank you very much for your participation! 04.08.2025 Do you have any questions? Please contact: bjoern.voss@bertrandt.com 17
Slide 18: Back-up
Back-up 18 04.08.2025 Analyst & Investor Conferences | Bertrandt AG I August 4, 2025
Slide 19: Financial calendar
Financial calendar 13 February 2025 Q1 2024/2025 19 February 2025 AGM (Sindelfingen) Analyst & Investor Conferences | Bertrandt AG I August 4, 2025 15 May 2025 Q2 2024/2025, CMD (Ehningen) 04 August 2025 Q3 2024/2025 18 December 2025 FY 2024/2025, Investor, Analyst & Press conferences 18 February 20
Slide 20: Contact details
Bertrandt AG, Birkensee 1, 71139 Ehningen, Germany Analyst & Investor Conferences | Bertrandt AG I August 4, 2025 Markus Ruf Member of the Board, Finance +49 7034 656 13076 bjoern.voss@bertrandt.com www.bertrandt.com 04.08.2025 Björn Voss Vice President Investor Relations and M&A 20
Slide 21: Disclaimer
Disclaimer This presentation contains, among other things, certain forward-looking statements about future developments that are based on management's current estimates. Such statements are subject to certain risks and uncertainties. If any of these or other uncertainties materialize, or if the assu