Hgears Ag · XETR:HGEA
Hgears — 9M 2025 Earnings Presentation
11 slides from Hgears's earnings presentation, November 2025
Slide 1: 9M 2025 results
9M 2025 results the heart of your CALS | performance
Slide 2: Disclaimer
Disclaimer This report contains forward-looking statements. These statements are based on current experience, estimates and projections of the Management Board and the information available at the time this report was prepared. They are not guarantees of future performance and results and are subjec
Slide 3: 9M 2025 Highlights
9M 2025 Highlights Effective countermeasures offset negative mix and missing operating leverage • hGears delivered 9M25 results slightly above expectations, successfully navigating the weakest quarter in the company’s history • As anticipated, e-Bike performance in 3Q25 was impacted by ongoing desto
Slide 4: Quarterly sales development of the business areas
Quarterly sales development of the business areas Sales (in EUR million) 28.8 27.8 28.2 26.8 25.9 5.2 6.9 24.9 24.3 24.2 9.0 23.0 7.7 6.0 21.9 4.0 3.4 4.5 4.1 20.2 3.8 0.7 12.3 13.2 12.2 11.7 12.6 11.9 9.2 10.4 11.3 11.8 12.3 10.3 8.7 8.9 8.5 8.7 9.2 8.2 7.3 6.9 7.3 7.8 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24
Slide 5: Financial Review
Financial Review the heart of your | CALS | performance
Slide 6: 9M25 results slightly above expectations – strong cost discipline offset negative mix and lack of leverage
9M25 results slightly above expectations – strong cost discipline offset negative mix and lack of leverage Sales (in EUR million) Adj. Gross Profit (in EUR million) Adj. EBITDA (in EUR million) 72.1 69.6 40.0 14.3 -42.7% 8.2 33.7 31.8 1.3 30.0 0.9 33.8 +4.1% 35.2 20.0 0.8 0.4 10.0 24.0 +9.0% 26.2 0.
Slide 7: Streamlined operations reflected in the 9M25 free cash flow
Streamlined operations reflected in the 9M25 free cash flow Free Cash Flow bridge (in EUR million) Free Cash Flow bridge 0 -0.6 • Net cash flow from operating activities 1.0 – Improved non-adjusted EBITDA (EUR -2.5 +1.5 Mio. Vs PY) and reduction of -2 0.9 inventories are partially offset by a tempor
Slide 8: Stable balance sheet
Stable balance sheet Net Debt (in EUR million) and Leverage 19.0 • Net debt & liquidity 18.0 17.2 17.0 32.5 16.0 14.7 15.0 13.8 – Cash and cash equivalents amount to 14.0 12.4 27.5 EUR 8.7 million; like-for-like value 13.0 12.0 10.2 22.5 including credit lines EUR 10.7 million 11.0 9.7 9.4 10.0 (Dec
Slide 9: Outlook & Closing Remarks
Outlook & Closing Remarks the ‘of your | ars | perrormance”
Slide 10: Guidance for 2025
Guidance for 2025 2025 Guidance Revenue EUR 87 – 90 million Adjusted EBITDA EUR minus 1 to plus 1 million Free Cash Flow EUR minus 2 to 0 million 10
Slide 11: the heart of your performance
the heart of your CALS | performance