Chervon Holdings Limited · HKEX:2285

Chervon — FY2025 Earnings Presentation

56 slides from Chervon's earnings presentation, Mar 26, 2026

  1. Slide 1: 2025 Annual Result

    CHERVON HOLDINGS LIMITED 2025 ANNUAL RESULT 泉峰控股2025年度业绩 March 26, 2026

  2. Slide 2: Agenda

    AGENDA FINANCIAL HIGHLIGHTS BUSINESS REVIEW & OUTLOOK Q&A

  3. Slide 3: Agenda: Financial Highlights

    AGENDA FINANCIAL HIGHLIGHTS BUSINESS REVIEW & OUTLOOK Q&A

  4. Slide 4: Financial Highlights

    FINANCIAL HIGHLIGHTS 财务概览 In USD million 2024 2025 CHANGE SALES 1,774 1,628 - 8.2% GP 616 536 -13.0% GP % 34.7% 32.9% -180bps Profit from operations 155 122 - 21.3% OP % 8.7% 7.5% NET PROFIT (NP) 113 98 - 13.3% NET PROFIT % 6.4% 6.0% ADJUSTED NP 136 78 - 42.2% ADJUSTED NP% 7.7% 4.8% Earnings Per sha

  5. Slide 5: Non HKFRS Measure - Adjusted Net Profit

    FINANCIAL HIGHLIGHTS 财务概览 NON HKFRS MEASURE- ADJUSTED NET PROFIT 经调整净利润 2024 2025 CHANGE USD'000 USD'000 Profit for the year 112,708 97,693 - 13.3% Add: Flex repositioning 23,032 Gain from Disposal of Chervon Auto(1) -19,240 Adjusted net (loss)/profit 135,740 78,453 - 42.4% (1) Represents the non-re

  6. Slide 6: Sales Analysis – By Segment

    SALES ANALYSIS – BY SEGMENT 销售分析-分业务版块 In USD million 2024 2025 CHANGE SALES 1,774 1,628 - 8.2% = PT 电动工具 748 611 - 18.3% OPE 园林工具 1,007 1,009 0.1% 6

  7. Slide 7: Sales Analysis – By Region

    SALES ANALYSIS – BY REGION 销售分析-分地区 In USD million 2024 2025 % CHANGE SALES 1,774 1,628 - 8.2% = NORTH AMERICA 北美 1,293 1,145 70% - 11.5% EUROPE 欧洲 314 317 20% 0.9% CHINA 中国 111 106 6% - 3.8% ROW 其他地区 56 60 4% 6.8% 7

  8. Slide 8: Profit Analysis

    PROFIT ANALYSIS 利润分析 EXPENSE BREAK DOWN 费用拆解 -0.1% USD’000 2024 2025 Change R&D 研发费用 83,410 85,795 2.9% 104,758 105,367 Administrative Selling As % of revenue 4.7% 5.3% R&D Selling 销售费用 262,251 258,799 -1.3% 262,251 258,799 As % of revenue 14.8% 15.9% Administrative 管理费用 104,758 105,367 0.6% As % of

  9. Slide 9: Financial Positions

    FINANCIAL POSITIONS 财务状况 USD’000 2024/12/31 2025/12/31 Change Non-current assets 非流动资产 478,767 472,574 -1.3% Current assets 流动资产 1,513,530 1,371,361 -9.4% Current liabilities 流动负债 782,968 630,158 -19.5% Non-current liabilities 非流动负债 172,636 195,923 13.5% EQUITY 净资产 1,036,693 1,017,854 -1.8% 9

  10. Slide 10: Financial Positions: Gearing Ratio

    FINANCIAL POSITIONS 财务状况 Gearing ratio 250% 220% 196% 200% 150% 130% 100% 54% 50% 35% 34% 30% 30% 0% 2018 2019 2020 2021 2022 2023 2024 2025 Gearing ratio Gearing Ratio=total net borrowing (excluding bank advance from factored trade receivables)/ equity attributable to owners of the Company 10

  11. Slide 11: Working Capital

    WORKING CAPITAL 运营资本 Turnover days of Turnover days of Turnover days of Inventory Trade and bills receivables Trade and bills payables 库存周转天数 应收账款周转天数 应付账款周转天数 209 106 110 106 180 177 87 95 94 96 159 157 90 90 150 77 86 129 127 67 57 59 56 47 18 19 20 21 22 23 24 25 18 19 20 21 22 23 24 25 18 19 20

  12. Slide 12: Cash Flow

    CASH FLOW 现金流 USD’000 2024 2025 12/31 12/31 Cash from operating activities 167,684 229,355 经营活动现金流 Cash from investing activities -70,415 10,776 投资活动现金流 Cash from financing activities -60,808 -190,242 融资活动现金流 Cash and cash equivalents at the end of the period 328,758 379,292 现金及现金等价物 12

  13. Slide 13: Agenda: Business Review & Outlook

    AGENDA FINANCIAL HIGHLIGHTS BUSINESS REVIEW & OUTLOOK Q&A

  14. Slide 14: Tariff! A Challenging Year

    TARRIF ! GROWTH 2025 Q1 2025 Q2 2025 Q3 2025 Q4 YOY FLAT DECLINE 2025 A CHALLENGING YEAR 14

  15. Slide 15: Fundamental Resilience

    SOLID POS GROWTH 终端增速稳健 STABLE GROSS MARGIN 稳定的盈利水平 RECORD OPERATION CASH FLOW FUNDAMENTAL 强劲的经营性现金流 RESILIENCE GLOBAL MANUFACTURING OPTIMIZATION 持续优化的产能布局 ASSET PORTFOLIO OPTIMIZATION 资产优化 ENHANCING SHAREHOLDER RETURN 持续不断提升股东分红 15

  16. Slide 16: #1 Rated Brand in Cordless Outdoor Power

    #1 RATED BRAND IN CORDLESS OUTDOOR POWER

  17. Slide 17: EGO 56V Lithium

    oO ARG LITHIUM 56V yet

  18. Slide 18: Continue the Momentum with Record Setting POS

    CONTINUE THE MOMENTUM WITH 动销强劲 RECORD SETTING POS THE LARGEST OPE PLATFORM #1 in CANADA DC OPE MARKET #1 BRAND IN BATTERY WALK BEHIND OPE & BATTERY RIDING MOWER

  19. Slide 19: Chervon Has Created EGO Branding

    CHERVON HAS CREATED EGO BRANDING BUSINESS WITH CORE COMPETENCIES 强势品类 NO.1 IN MULTIPLE CATEGORIES OF DC OPE IN US SNOW BLOWER RIDING MOWER WALK-BEHIND MOWER Source: Dollar market size-TraQline Report 2025 (Sell Out / POS)

  20. Slide 20: Award-Winning Products

    AWARD-WINNING PRODUCTS 产品认可 BEST ELECTRIC LAWN MOWER BEST ELECTRIC RIDING MOWER

  21. Slide 21: #1 Rated

    持续好评 #1 RATED 52 OUT OF 68 TIMES OVERALL SCORE: NEW OVERALL SCORE: 8488 8883 OVERALL SCORE OVERALL SCORE OVERALL SCORE OVERALL SCORE OVERALL SCORE OVERALL SCORE 89 85 88 84 2-STAGE LEAF ZERO TURN HEDGE BACKPACK CHAINSAWS SNOW BLOWERS BLOWER RIDING MOWERS TRIMMERS BLOWERS

  22. Slide 22: Best Battery Platform for All Power Tools

    BEST BATTERY PLATFORM FOR ALL POWER TOOLS OVERALL SCORE 86 #1 RATED

  23. Slide 23: Platform Effect Expanding Further

    PLATFORM EFFECT EXPANDING FURTHER 平台效应进一步凸显 ONE 110+ BATTERY POWERSTOOLS

  24. Slide 24: Platform Effect Expanding Further: Users and SKUs

    PLATFORM EFFECT EXPANDING FURTHER 平台效应进一步凸显 MORE MARKET SHARE 7.0 MILLION 110+SKUS MORE PLATFORM USERS IN EGO 56V TOOLS PLATFORM MORE CUSTOMER CONVERSION 19 MILLION & BATTERIES IN THE GLOBAL MARKET 140 LOYALTY MORE POWERED BY EGO BATTERY （PBE ） PRODUCTS 46 % MORE BATTERY SALES CAGR -25) (19 BRAND 1)

  25. Slide 25: Multi-Channel Distribution

    MULTI-CHANNEL DISTRIBUTION EASIER ACCESS TO THE USERS 全渠道销售 AND MORE DISTRIBUTER & DEALERS… VALUE CREATING FOR THE CHANNELS POS GROWTH IN EVERY SINGLE CHANNEL! 为渠道创造价值，全面增长

  26. Slide 26: Market Share

    MARKET SHARE 15% 亚马逊排名第一 MARKET SHARE MARKET SHARE 21% 50% NO.1 MARKET SHARE 16% MARKET SHARE OPE BRAND 14% 21% MARKET SHARE MARKET SHARE 10% Source: Amazon Stackline Report 2025 include gas & battery OPE

  27. Slide 27: Leveraging EGO Innovation as a Draw

    LEVERAGING EGO INNOVATION AS A DRAW 持续加深合作 LOWE’S SOCIAL MEMORIAL DAY NATIONAL TV DISPLAY AD EGO INNOVATION END CAP

  28. Slide 28: Expanded Distribution Delivers Increased Sales in Canada

    EXPANDED DISTRIBUTION DELIVERS INCREASED SALES IN CANADA 加拿大强势增长 #1 in CANADA DC OPE MARKET IN-STORE AND ONLINE EXPANSION HAS LED TO STRONG POS GROWTH

  29. Slide 29: ACE Leveraging EGO Brand in New MLB Partnership

    ACE leveraging the power of EGO brand in new MLB partnership EGO Won Vendor of the Year Award, once again, in ACE Spring Show

  30. Slide 30: JD & Chervon Partnership Milestone

    JD & CHERVON PARTNERSHIP MILESTONE EGO与约翰迪尔达成合作

  31. Slide 31: EGO Benelux Distributor SDL B.V. Acquisition

    EGO BENELUX DISTRIBUTOR SDL B.V. ACQUISITION

  32. Slide 32: More and More Commercial Products

    MORE AND MORE COMMERCIAL PRODUCTS 商用化 RIDING WHEELED HAND-HELD PGX SYSTEM MOWER PRODUCT PRODUCT & OTHERS

  33. Slide 33: Go Autonomous

    GO AUTONOMOUS 智能化 TECHNOLOGY FAST MAPPING SUPERIOR SLOPE HANDLING

  34. Slide 34: Copyright©2024.Chervon Holdings Ltd., Strictly Confidential

    Copyright©2024.Chervon Holdings Ltd., Strictly Confidential

  35. Slide 35: 2025 Highlights - FLEX

    - FLEX 2025 HIGHLIGHTS Ae.

  36. Slide 36: FLEX Product Range: General, Auto & Detailing, Drywall, Framing

    DRYWALL GENERAL AUTO & DETAILING FRAMING

  37. Slide 37: Framing, Drywall, Auto & Detailing

    FRAMING DRYWALL AUTO & DETAILING

  38. Slide 38: FLEX 24V Range Successfully Launched in ANZ Market

    FLEX 24V RANGE SUCCESSFULLY LAUNCHED IN ANZ MARKET FLEX 24V 系列 成功登陆澳大利亚市场

  39. Slide 39: FLEXperience

    Vaio OM - tat FLEXsbiv#2025% “FLEXperience” Sia, ait* BRK, LRMLSRLAMR, SHRTMAAAUASHALA, w GEL, MARE ROUSE RRG RA ROME. ECO &, BMFLEXBRRMSUT RRMA SPT ALA.

  40. Slide 40: Ambassadors Program

    AMBASSADORS PROGRAM + AWARENESS + TRAINING + CONFIDENCE

  41. Slide 41: Slide 41

  42. Slide 42: SKIL Is Gaining More and More Channel Customers

    SKIL IS GAINING MORE AND MORE CHANNEL CUSTOMERS…

  43. Slide 43: SKIL Partner with Team Visma | Lease a Bike

    SKIL PARTNER WITH TEAM VISMA | LEASE A BIKE

  44. Slide 44: New Brushless Series

    NEW BRUSHLESS SERIES Introducing the next generation of motor technology, specifically targeted at the homeowner market. BRUSHLESS TECHNOLOGY • 10x long lifetime vs. Brushed​ • More Compact, Better Control & Motor Response • Higher performance across the entire platform of cordless products 44

  45. Slide 45: Devon

    DEVON AS

  46. Slide 46: 大有产品获得渠道 高度认可 大有助力“苏超” 燃情开战 战略灯塔产品 年度趋势新品 社交媒体粉丝量， 话题量行业领先

    大有产品获得渠道 高度认可 大有助力“苏超” 燃情开战 战略灯塔产品 年度趋势新品 社交媒体粉丝量， 话题量行业领先

  47. Slide 47: Supply Chain

    SUPPLY CHAIN 供应链

  48. Slide 48: Reshape Our Global Manufacturing Footprint

    RESHAPE OUR GLOBAL MANUFACTURING FOOTPRINT 重塑全球供应链结构 Campus 1(leasing) Campus 2 (leasing) Campus 3 (self-own) Campus 4 (leasing) 41,850 sqm 45,600 sqm 170,000 sqm 40,000 sqm Since 2020 Since 2024 Target 2027 Target 2026 48

  49. Slide 49: Campus 3 Ongoing, Scheduled to Be Operational in 2027

    CAMPUS 3 ONGOING, SCHEDULED TO BE OPERATIONAL IN 2027. 越南三厂区按计划推进 A 3D rendering of Chervon's Vietnam Plant 3, which is scheduled to be operational in 2027. 49

  50. Slide 50: Reshape Our Global Manufacturing Footprint

    RESHAPE OUR GLOBAL MANUFACTURING FOOTPRINT 重塑全球供应链结构 MORE FLEXIBLE MORE AGILE MORE RESILIENT FLEX DE MOVED TO CHINA VN EXPANSION AS PLANNED 德国工厂已迁移至中国 越南按计划扩大产能 50

  51. Slide 51: Effective Cost Management

    EFFECTIVE COST MANAGEMENT 合理费用管理 A STRATEGIC RESPONSE PLAN: CONTINUE R&D INVESTMENT CONTROLED ADMINISTRATION EXPENSE STRENGTHEN BRAND MARKETING 51

  52. Slide 52: Future Outlook

    FUTURE OUTLOOK

  53. Slide 53: Manage Uncertainty for 2026 & Beyond

    MANAGE UNCERTAINTY FOR 2026 & BEYOND 穿越波动 回归增长 53

  54. Slide 54: Thank You

    r THANK YOU 4 CHERVON 54

  55. Slide 55: Agenda

    AGENDA FINANCIAL HIGHLIGHTS BUSINESS REVIEW & OUTLOOK Q&A

  56. Slide 56: Tieromennen | 2200.HK

    Tieromennen | 2200.HK } Sui

Chervon Holdings — FY2025 Earnings Presentation on 6ix