Zumtobel Group Ag · VIE:ZAG
Zumtobel — Q3 2025/26 Earnings Presentation
23 slides from Zumtobel's earnings presentation, Mar 5, 2026
Slide 1: Q1–Q3 2025/26 Management Presentation
Q1–Q3 2025/26 MANAGEMENT PRESENTATION 5 March 2026 1
Slide 2: Disclaimer
DISCLAIMER The facts and information contained herein constitute forward-looking statements as of the date they were made and based upon assumptions as to future events or circumstances that may not prove to be complete or accurate. By their nature, these statements involve risk and uncertainty beca
Slide 3: Reference projects: European Patent Office, Levis Store, Amazon, Inspire Offices
European Patent Office Munich, Germany Levis Store, Paris, France Amazon, Rochester, UK 3 Inspire Offices, Barcelona, Spain Festhalle Bern, Switzerland
Slide 4: Winter Olympics venues: Arena Santa Giulia, Predazzo, Antholz, Cortina
ARENA SANTA GIULIA MILANO PREDAZZO SKI JUMPING STADIUM 4 SÜDTIROL ARENA ANTERSELVA CORTINA SLIDING CENTRE
Slide 5: Q1–Q3 2025/26 Financial Overview
ZUMTOBEL GROUP Q1–Q3 2025/26 FINANCIAL OVERVIEW IN EUR MILLION Q1–Q3 2025/26 Q1–Q3 2024/25 CHANGE IN % Group revenues 775.0 828.1 –6.4 Lighting Segment revenues 618.6 652.0 –5.1 Components Segment revenues 200.0 226.6 –11.7 Adjusted gross profit 1 288.7 304.9 –5.3 Adjusted EBIT 32.2 41.0 –21.5 Net p
Slide 6: Efficiency programme expected to deliver up to EUR 50 million in 2028/29
SECURING COMPETITIVENESS THROUGH OPTIMISATION: EFFICIENCY PROGRAMME EXPECTED TO DELIVER UP TO EUR 50 MILLION IN 2028/29 Lean Streamlined Shared Cost savings are ramping up 3 key levers organization processes service center year-on-year EUR 40 – 50 million from 2028/2029 onwards Combined expected ann
Slide 7: Lighting Segment: revenues declined, adj. EBIT helped by lower costs
LIGHTING SEGMENT WHILE REVENUES DECLINED, ADJ. EBIT WAS POSITIVELY IMPACTED BY LOWER MATERIAL COSTS AND LOWER PERSONNEL EXPENSES REVENUES IN EUR MILLION ADJUSTED EBIT IN EUR MILLION fx-adj. fx-adj. fx-adj. –7.3% –4.4% –1.9% 10.2% 8.9% –7.0% –5.0% –3.0% 5.4% 7.8% 3.8% 5.4% 226.6 229.5 218.0 22.3 210.
Slide 8: Components Segment: lower costs unable to offset revenue decline
COMPONENTS SEGMENT LOWER MATERIAL COSTS AND PERSONNEL EXPENSES WERE UNABLE TO OFFSET THE DECLINE IN REVENUES REVENUES IN EUR MILLION ADJUSTED EBIT IN EUR MILLION fx-adj. fx-adj. fx-adj. 8.4% –10.4% –11.0% –8.0% 5.9% 8.4% 3.0% 0.3% –11.8% –12.8% –10.4% 1.9% -3.2% 80.3 77.0 6.5 70.9 67.2 69.2 72.8 5.6
Slide 9: Zumtobel Group: revenues declined, adj. EBIT helped by lower costs
ZUMTOBEL GROUP WHILE REVENUES DECLINED, ADJ. EBIT WAS POSITIVELY IMPACTED BY LOWER MATERIAL COSTS AND LOWER PERSONNEL EXPENSES REVENUES IN EUR MILLION ADJUSTED EBIT IN EUR MILLION fx-adj. fx-adj. fx-adj. 9.2% –7.7% –5.1% –3.6% 7.0% 7.3% 2.2% –7.8% –6.0% –5.2% 0.3% 2.5% 289.1 288.6 266.4 271.2 269.1
Slide 10: Weak demand led to lower result
ZUMTOBEL GROUP WEAK DEMAND LED TO LOWER RESULT ADJUSTED EBIT BRIDGE IN EUR MILLION / AS % OF SALES 4.9% –0.7pp 4.2% Mainly due to negative volume development and price Mainly due to lower material pressure costs, lower personnel 41.0 expenses and a positive product/country mix effect 7.3 32.2 22.3 –
Slide 11: Adj. gross profit margin at 37.3%
ADJ. GROSS PROFIT MARGIN AT 37.3% ZUMTOBEL GROUP – INCOME STATEMENT IN EUR MILLION Q1–Q3 2025/26 Q1–Q3 2024/25 CHANGE IN % Revenues 775.0 828.1 –6.4 Adjusted cost of goods sold –486.3 –523.2 –7.1 Adjusted gross profit (incl. development) 288.7 304.9 –5.3 as a % of revenues 37.3 36.8 Adjusted SG&A ex
Slide 12: Cash flow statement
CASH FLOW STATEMENT ZUMTOBEL GROUP – CASH FLOW STATEMENT IN EUR MILLION Q1–Q3 2025/26 Q1–Q3 2024/25 Cash flow from operating results 64.6 69.2 Change in working capital 15.1 1.2 Change in other operating items –36.4 –16.2 Taxes paid/received –6.5 –5.3 Cash flow from operating activities 36.8 48.8 Ca
Slide 13: Solid balance sheet
SOLID BALANCE SHEET ZUMTOBEL GROUP – KEY BALANCE SHEET DATA IN EUR MILLION 31 January 2026 30 April 2025 Solid liquidity position backed by: Total assets 982.9 989.6 • Consortium credit agreement with a term ending in December 2028 and a volume of EUR 125 million Net debt 131.1 118.5 (including clau
Slide 14: Current market outlook
CURRENT MARKET OUTLOOK Growth in non-residential construction Development of non-residential construction in 2026 until 2027 (for selected countries) Development in 2026 1.7 1.5 ✓ A year of recovery for non-residential 1.3 2.7 2.8 construction in most of Europe, with growth 2.0 1.9 1.4 1.5 led by pu
Slide 15: Full year 2025/26 outlook
FULL YEAR 2025/26 OUTLOOK REVENUES IN SINGLE DIGIT PERCENTAGE RANGE BELOW PREVIOUS YEAR'S LEVEL ADJUSTED EBIT MARGIN OF 2.5 – 4% (previously: 1 – 4%) CAPEX EXCL. IFRS 16 ~EUR 50 MILLION Q1–Q3 2025/26 results 15
Slide 16: Investor event at Light & Building 2026
Investor event at Light & Building 2026 Meet CEO Alfred Felder and CFO Thomas Erath on 12 March 2026 at the Zumtobel Group booth Haven’t signed up yet? Reach out to us if you’d like to meet us at the booth in Frankfurt. Q1–Q3 2025/26 results 16
Slide 17: Back up
BACK UP Q1–Q3 2025/26 results 17
Slide 18: Group revenues down by –5.2% in Q3 2025/26
GROUP REVENUES DOWN BY –5.2% IN Q3 2025/26 ZUMTOBEL GROUP – REGIONAL REVENUE DISTRIBUTION Q3 Q3 CHANGE Q1–Q3 Q1–Q3 CHANGE IN % IN EUR MILLION 2025/26 2024/25 IN % 2025/26 2024/25 NOMINAL FX ADJUSTED D/A/CH 86.5 93.8 –7.8 300.2 310.9 –3.5 –4.2 Northern and Western Europe 52.8 55.7 –5.1 177.0 202.1 –1
Slide 19: Financial calendar
FINANCIAL CALENDAR DATE SUBJECT PERIOD 16 July 2026 Annual Results 2025/26 1 May 2025 – 30 April 2026 3 September 2026 Quarterly Report Q1 2026/27 1 May 2026 – 31 July 2026 15 September 2026 Record Date for the Annual General Meeting 25 September 2026 50th Annual General Meeting 29 September 2026 Ex
Slide 20: Working capital development
WORKING CAPITAL DEVELOPMENT ZUMTOBEL GROUP – WORKING CAPITAL 21.0 21.5 21.0 20.7 20.6 20.8 19.7 19.8 20.4 20.4 20.0 • Working capital at EUR 212.6 million as of 31 January 2026 (30 April 2025: EUR 227.8 million) • In % of rolling 12-month revenues, working capital at 20.4% (Q3 2024/25: 20.4%) Q1 Q2
Slide 21: Supplementary data for segment reporting
SUPPLEMENTARY DATA FOR SEGMENT REPORTING ZUMTOBEL GROUP Lighting Segment Components Segment Reconciliation Group Q1–Q3 Q1–Q3 Q1–Q3 Q1–Q3 Q1–Q3 Q1–Q3 Q1–Q3 Q1–Q3 IN EUR MILLION 2025/26 2024/25 2025/26 2024/25 2025/26 2024/25 2025/26 2024/25 Net revenues 618.6 652.0 200.0 226.6 –43.7 –50.5 775.0 828.1
Slide 22: Five-year overview
FIVE-YEAR OVERVIEW ZUMTOBEL GROUP IN EUR MILLION 2024/25 2023/24 2022/23 2021/22 2020/21 Revenues 1,097.2 1,127.0 1,209.2 1,148.3 1,044.5 Adjusted EBIT 46.9 57.3 84.3 60.8 45.5 as a % of revenues 4.3 5.1 7.0 5.3 4.4 EBIT 33.0 49.5 84.3 60.8 43.4 as a % of revenues 3.0 4.4 7.0 5.3 4.2 Net profit/loss
Slide 23: Zumtobel Group AG
ZUMTOBEL GROUP AG Investor Relations investorrelations@zumtobelgroup.com www.zumtobelgroup.com Q1–Q3 2025/26 results 23