Slide 1: Full year results 2024
full year results 2024 Utrecht, 27 February 2025
Slide 2: Today's agenda
today’s agenda key financial strategy outlook Q&A highlights development in action 1 2 3 4 5 Stéphane Simonetta Arno Monincx Rutger Relker CEO CFO director investor relations 27 February 2025 Aalberts N.V. | full year results 2024 2
Slide 3: Key highlights
key highlights Stéphane Simonetta
Slide 4: 2024 performance
2024 performance 1 revenue EUR 3,149 million, organic decline 3.4% 2 EBITA margin 15% or EUR 471 million before exceptionals, with improved added value at 63.4% 3 CAPEX stable at EUR 231 million, strong free cash flow at EUR 334 million 4 strengthened our position in the USA for our industry segment
Slide 5: New segment reporting
new segment reporting building industry semicon revenue (in EUR million) 1,603 1,061 501 organic growth (3.0%) (7.5%) 4.7% EBITA margin (% of revenue) 12.9% 18.6% 14.2% 27 February 2025 Aalberts N.V. | full year results 2024 5
Slide 6: Operational development | building
operational development | building revenue performance o full year organic revenue (3.0%) o EBITA margin down at 12.9% o Q4 organic revenue 2.0% o strong pricing discipline growing o major improvement in USA thanks to operations excellence with improved o better activity in USA, United service level
Slide 7: Operational development | industry
operational development | industry revenue performance o full year organic revenue (7.5%) o sustained high EBITA margin 18.6% o Q4 organic revenue (9.2%) o business development plans progressing growing o capacity expansion well on track o aerospace, power generation, defence and hydrogen valves o s
Slide 8: Operational development | semicon
operational development | semicon revenue performance o full year organic revenue 4.7% o sustained EBITA margin 14.2% o Q4 organic revenue (10.4%) due to o capacity expansions are on track inventory reduction from our customers o invested in new technologies growing o reinforced the organisation for
Slide 9: Environmental performance
environmental performance SDG rate scope 1 and 2 CO2 reduction (in %) (scope 1 and 2 in ktonnes) 71% 220 2030 target >70% 2030 target <186 2024 71% 2024 220 +1% -12.3% 2023 70% 2023 251 2019 64% 2018 310 we have made great progress on environmental performance 27 February 2025 Aalberts N.V. | full y
Slide 10: Diverse and experienced executive team
diverse and experienced executive team Stéphane Simonetta Oliver Jäger Patrick de Groot Maarten van de Veen Jacob Speight Roland Voermans CEO surface advanced hydronic integrated piping integrated piping technologies mechatronics flow control systems Americas systems EMEA/APAC Anne-Lize van Arno Mon
Slide 11: Financial development
financial development Arno Monincx
Slide 12: Financial development
financial development revenue EBITA margin capital expenditure free cash flow (in EUR million) (in % before exceptionals) (in EUR) (in EUR million before exceptionals) organic (0.7) 3% (21%) (3.4%) 3,324 15.7 423 3,149 15.0 231 224 334 2023 2024 2023 2024 2023 2024 2023 2024 o building (3.0%) o adde
Slide 13: Revenue bridge
revenue bridge 3,324.0 3.7 8.1 -75.2 3,148.6 -112.0 actual 2023 acquisitions divestments currency organic actual 2024 27 February 2025 Aalberts N.V. | full year results 2024 13
Slide 14: EBITA bridge
EBITA bridge 521.0 0.4 0.8 -7.0 471.1 -44.1 actual 2023 acquisitions divestments currency organic actual 2024 before exceptionals 27 February 2025 Aalberts N.V. | full year results 2024 14
Slide 15: EPS bridge
EPS bridge 3.38 0.00 -0.06 0.04 3.12 0.05 0.08 -0.37 actual 2023 acquisitions divestments organic finance cost tax (%) currency actual 2024 before exceptionals 27 February 2025 Aalberts N.V. | full year results 2024 15
Slide 16: Revenue split
revenue split revenue per end market revenue per region (in %) (in %) 16 6 22 33 51 72 building 51% Europe 72% industry 33% America 22% semicon 16% APAC, Middle East, Africa 6% 27 February 2025 Aalberts N.V. | full year results 2024 16
Slide 17: Regional revenue per segment
regional revenue per segment building industry semicon (in %) (in %) (in %) 4 9 6 6 27 23 69 68 88 Europe 69% Europe 68% Europe 88% America 27% America 23% America 6% APAC, Middle East, Africa 4% APAC, Middle East, Africa 9% APAC, Middle East, Africa 6% 27 February 2025 Aalberts N.V. | full year res
Slide 18: Building segment
building segment revenue organic revenue growth EBITA margin capital expenditure (in EUR million) (% of revenue) (% of revenue) (in EUR million) (4%) (1.3) (1.0) 8% 1,677 1,603 80.0 13.9 73.8 12.9 -1.7 -3.0 2023 2024 2023 2024 2023 2024 2023 2024 corrective actions in place to improve performance 27
Slide 19: Industry segment
industry segment revenue organic revenue growth EBITA margin capital expenditure (in EUR million) (% of revenue) (% of revenue) (in EUR million) (10%) (16.4) (0.3) (10%) 8.9 18.9 18.6 111.6 1,184 99.9 1,061 (7.5) 2023 2024 2023 2024 2023 2024 2023 2024 strong EBITA performance despite organic declin
Slide 20: Semicon segment
semicon segment revenue organic revenue growth EBITA margin capital expenditure (in EUR million) (% of revenue) (% of revenue) (in EUR million) 5% (17.4) (0.3) 34% 501 50.7 479 22.1 14.5 14.2 37.9 4.7 2023 2024 2023 2024 2023 2024 2023 2024 EBITA margin challenged by lower growth 27 February 2025 Aa
Slide 21: Exceptional costs of EUR 120.5 million
exceptional costs of EUR 120.5 million » accelerated operational excellence programmes (EUR 54.8 million) annual benefit of approx. EUR 30 million (2024: EUR 10 million) » decision to leave Russia (EUR 37.0 million) » outcome of an arbitral award (EUR 28.7 million) 27 February 2025 Aalberts N.V. | f
Slide 22: Shareholder return
shareholder return dividend proposal share buyback cash dividend EUR 1.13 per share EUR 75 million programme (2023: EUR 1.13) 1.13 0.80 » commencing on 28 February 2025 » end date of 24 October 2025 0.46 » for the purpose of repurchasing and subsequently cancelling shares » reinforcing our dedicatio
Slide 23: 50 years of sustainable profitable growth
our track record 50 years of sustainable profitable growth group of 4 technology 3 business companies clusters segments 3500 3,149 600 3000 revenue (in EUR million) 2,841 EBITA (in EUR million before exceptionals) 500 2500 471 2,201 400 2000 363 1500 1,405 300 247 1000 898 200 500 385 107 99 100 130
Slide 24: Shareholder value creation
shareholder value creation return on incremental earnings per share dividend per share share buyback capital employed (in EUR before exceptionals) (in EUR) (before exceptionals) 1.13 3.12 capital EBITA employed 247 2014 1,854 1.52 EUR 75 million 0.46 471 2024 3,203 programme start (4) IFRS 16 (191)
Slide 25: Strategy in action
strategy in action Stéphane Simonetta
Slide 26: Thrive 2030
thrive 2030 refocus. rebalance. recharge.
Slide 27: Key message capital markets day
key message capital markets day 1 on track and committed to realise 2026 targets, new strategic horizon 2025-2030 2 well positioned for growth, tailwind in attractive end markets with leadership positions 3 stakeholder value creation through balanced capital allocation, M&A as accelerator 4 a simpli
Slide 28: Strategic actions
strategic actions 1 profitable growth 2 leadership positions 3 the Aalberts way 4 sustainable commitments refocus. rebalance. recharge. 27 February 2025 Aalberts N.V. | full year results 2024 28
Slide 29: Organic growth initiatives – examples building
1 organic growth initiatives – examples building prefab connectivity data centre air condition and leakage prevention solutions solutions refrigeration market ease of installation container with IoT enabled systems hydronic cooling and cool press connection systems prefabricated boiler with real tim
Slide 30: Organic growth initiatives – examples industry
1 organic growth initiatives – examples industry HIP capacity Hungary capacity Europe America expansion America expansion expansion expansion hydrogen valves heat treatment reel-to-reel material heat treatment for hydrogen mobility develop e-coating and expansion of reel-to- improvement for rear sus
Slide 31: Organic growth initiatives – examples semicon
1 organic growth initiatives – examples semicon capacity expansion full life cycle integrated large co-development defence in Netherlands support frames and modules products and services industry modules, cabinets & repair, reuse, retrofit new state-of-art vertical integration precision frames lay-o
Slide 32: Innovate to differentiate
1 innovate to differentiate building industry semicon customer enable energy transition enable decarbonisation design to value need tackle labour shortages journey of our customers long-term partnership invest in digital offering focus invest in R&D and invest in subsystem integration our integrated
Slide 33: Portfolio optimisation
2 portfolio optimisation building industry semicon 2024 - EPC divestment (USA) + SGP acquisition (USA) + Paulo* acquisition (USA) 2025 - 2030 + adjacencies ‘source to + footprint USA for + footprint expansion emitter’ portfolio customer proximity South-East Asia + footprint expansion USA + end marke
Slide 34: The Aalberts way
3 the Aalberts way speed and agility global scale end-to-end expertise and accountability financial strength rapid growth functional local presence and excellence customer proximity drive synergies the Aalberts way as our differentiator 27 February 2025 Aalberts N.V. | full year results 2024 34
Slide 35: Net zero carbon roadmap
4 net zero carbon roadmap net zero carbon focus initiatives 2022-2026 targets 2030 2050 scope 1+2 o drive energy efficiency energy use continue o electrification progress38% intensity50% in CO2 intensity and absolute progress o use renewable energy 2024 versus 2018 versus 2018 raw materials o redu
Slide 36: Roadmap towards 2026 EBITA
roadmap towards 2026 EBITA illustrative >16% portfolio optimisation purchase savings building segment organic operations 15% growth productivities operational excellence programmes 2024 2026 on track to reach 2026 objective 27 February 2025 Aalberts N.V. | full year results 2024 36
Slide 37: 2025 outlook
2025 outlook aalberts
Slide 38: Looking forward to 2025
looking forward to 2025 building industry semicon market o modest recovery Europe o automotive, machine build, o destocking from customers dynamics o Germany and France remain agriculture headwinds, o major innovations required challenging especially in Germany and France o refurbishment growth o gr
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Slide 40: Summary
summary 1 Aalberts delivered resilient performance in challenging end markets 2 accelerated operational excellence programmes, cost-out excellence and inventory optimisation in place to address short term challenges 3 active funnel for further acquisitions to strengthen our leadership positions 4 fo
Slide 41: Appendix
appendix aalberts.com/investors aalberts.com/investors
Slide 42: Aalberts at a glance
Aalberts at a glance revenue (EUR million) mission-critical people nationalities locations worldwide 3,149 13,124 40+ 125 SDG impact 16% America Europe 22% 72% of total revenue of total revenue 32% APAC, Middle East, Africa 8% 6% of total revenue 15% building 51% industry 33% semicon 16% close to 50
Slide 43: Driven by four global tailwinds
driven by four global tailwinds … urbanisation technology reshoring decarbonisation acceleration strong need for comfortable regionalisation of growing demand for and healthy buildings, exponential need for AI critical manufacturing energy efficiency and sustainable transportation computing power, s
Slide 44: Building at a glance
building at a glance mission-critical people locations worldwide 5,325 22 America Europe 27% 69% of total revenue of total revenue APAC, Middle East, Africa 4% of total revenue connection systems 49% valves 22% boiler room technology 29% leadership positions in multiple product lines 27 February 202
Slide 45: Industry at a glance
industry at a glance mission-critical people locations worldwide 6,242 82 service 14sites America Europe 23% 68% of total revenue of total revenue APAC, Middle East, Africa 9% of total revenue surface technologies 62% stamping and extrusion 21% industrial products 17% leadership positions in surface
Slide 46: Semicon at a glance
semicon at a glance mission-critical people locations worldwide 1,507 7 America Europe 6% 88% of total revenue of total revenue APAC, Middle East, Africa 6% of total revenue machine conditioning 43% frames & modules 19% mechatronic technologies 38% we are conquering frontiers together with our globa
Slide 47: Free cash flow
free cash flow in EUR million (before exceptionals) 2024 2023 delta EBITDA 545.3 662.6 (117.3) gain on disposal of subsidiaries (9.0) (30.0) 21.0 result on sale of equipment (0.8) (4.4) 3.6 changes in provisions 50.4 (4.5) 54.9 changes in working capital (18.1) 9.9 (28.0) cash flow from operations 5
Slide 48: Condensed consolidated income statement
condensed consolidated income statement in EUR million (before exceptionals) 2024 2023 revenue 3,148.6 3,324.0 EBITDA 621.0 662.6 depreciation (149.9) (141.6) EBITA 471.1 521.0 net finance cost (30.8) (39.4) income tax expense (87.5) (103.5) non-controlling interests (8.3) (4.7) net profit before am
Slide 49: Condensed consolidated balance sheet
condensed consolidated balance sheet in EUR million 31.12.2024 31.12.2023 total non-current assets 2,842 2,707 total current assets 1,388 1,431 total assets 4,230 4,138 total equity 2,605 2,517 total non-current liabilities 618 726 total current liabilities 1,007 895 total equity and liabilities 4,2
Slide 50: Strategic actions
strategic actions » focus on three end markets, delivering customer-centric solutions » drive organic growth with business development and footprint optimisation 1 profitable growth » sustain >20% innovation rate with new products, solutions and digital offerings » double revenue in North America by
Slide 51: Disclaimer
disclaimer This document and related presentation is for information purposes only and does not and is not intended to, constitute or form part of, and should not be construed as, an offer, an invitation or a recommendation to purchase, sell or subscribe for, or otherwise acquire, any Aalberts secur