Alumasc Group Plc · LSE:ALU
Alumasc — H1 FY25 Earnings Presentation
33 slides from Alumasc's earnings presentation, February 2025
Slide 1: Interim Results, Six months to 31 December 2024
KX Frmasc Interim Results Six months to 31 December 2024 Sustainability driving further growth
Slide 2: Contents
Contents
Slide 3: Introducing Alumasc
umasc Ke Introducing Alumasc Paul Hooper, Chief Executive White City Living — oh Ree ™
Slide 4: Three divisions, diverse range of products & markets
Three divisions, diverse range of products & ma Water Management Climate change resilience through urban water and stormwater management Products: + Rainwater management (gutters/downpipes) + Architectural aluminium + Building and surface water drainage + Access covers The Alume = Building = Envelop
Slide 5: Clear and Well-Established Growth Strategy
Clear and Well-Established Growth Strategy al Championing Sustainable Building Products > Portfolio aligned with strategic growth markets > Resource-efficient manufacturing > Targeted product development > Sustainability commitment recognised by LSE Green Economy Mark The Alumasc Group ple Accelerat
Slide 6: H1 FY25 Overview
umasc Ke H1 FY25 Overview Paul Hooper, Chief Executive ee Lady Byron House, Knowle
Slide 7: H1 FY25 highlights
H1 FY25 highlights Delivery of strategic priorities driving market outperformance Record H1 performance in challenging end market conditions * Revenue +20% to £57.4m (H1 FY24: £47.8m) Underlying PBT* +19% to £7.5m (H1 FY24: £6.3m) * Organic growth in all three divisions * Excellent performance from
Slide 8: H1 FY25 highlights
H1 FY25 highlights Delivery of strategic priorities driving market outperformance Successful execution of strategic and commercial priorities * Organic revenue growth +8% * Strong overseas sales growth (+43%), assisted by acceleration of CLK order * Resilient domestic sales (+3%), outperforming chal
Slide 9: Financial Review
Ke umasc Financial Review Simon Dray, Group Finance Director Alumase Roofing - Alumase Inverted BluRoof = Fletcher Joseph - Student Roost - Nelson Street, Belfast (Image credit; Chris Humphreys Photography) Poise lt ete | Cua eat ae ee
Slide 10: Income statement summary
Income statement summary 6 months to 31 December H1 FY24 Welitela] §=Revenue +20% £m B= ARP contribution £5.7m Revenue 47.8 420.1% = + Organic growth +8% Gross profit 21.6 17.9 * UK revenues resilient (+39) Gross margin % 37.6% 37.5% * Strong export revenues (+43%) Sales, general & administration ov
Slide 11: Revenue and profit bridges
Revenue and profit bridges Six months to 31 December Revenue Bridge - continuing operations 1s7 0 41.5 +0.4 Six month contribution from ARP acquisition - es —_—_—_— a CC] * Revenue £5.7m ganic h +£3.9m . . Organic growth +£3.9 * Underlying PBT £0.5m (after £0.3m attributable 57.4 interest) 47.8 Orga
Slide 12: Cashflow statement summary
Cashflow statement summary Six months to 31 December H1 FY25 H1 FY24 Strong cash performance £m £m * — Cash conversion 127% (H1 FY24: 140%) EBITDA* 98 8.3 Change in working capital 7 7 * — £1.1m inflow from working capital: Pension deficit funding (0.6) (0.6) * Significant working capital reductions
Slide 13: Balance sheet summary
Balance sheet summary at 31 December H1FY25 H1 FY2. hange £m £m £1 Property, plant & equipment 21.5 191 $2.4 Intangible assets 191 18.8 +0.3 Working capital 10.8 1.4 (0.6) Other net liabilities (6.6) (7.2) +0.6 Capital invested 44.8 421 +2.7 Net debt bank (4.6) (7.4) 42.8 Net debt lease (5.3) (4.8)
Slide 14: Scope 3 targets underway
(2020 -2024: 0%) (2024: (3)% to (5)%) Scope 3 targets +8.1% HY25 14.1% underway
Slide 15: a ae
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Slide 16: bMS
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Slide 18: Housebuilding Products (Timloc)
Housebuilding Products (Timloc) Revenue (£m) 75 71 Underlying* operating profit (£m) 1.9 17 Underlying* operating margin (%) 25.0% 24.5% Operating profit (£m) 19 17 > Record H1 performance > Organic revenue (+6%) and profit (+8%) growth despite further declines in general UK housebuilding market > M
Slide 19: Accelerating Our Growth
oy Accelerating Our Growth Paul Hooper, Chief Executive a A gies Z A qe a, a aaa > mai at es 2 Wy * f Alumasc Water Management — Gatic UltraSlot and Access Covers - Moin Container Terminal, Limon Province, Costa Rica = Image Credit: APM Terminals > — _ - -_ - ~ _ yo
Slide 20: Accelerating organic sales growth - UK
Strategic Priority Accelerating organic sales growth - UK Revenue Growth (UK)*: +3.4% Outperformed challenging UK market (estimated c.5% decline**) Attractive positions in markets supported by long-term growth drivers: * 80% of product portfolio subject to regulations/legislation * >80% of revenue d
Slide 21: Accelerating organic sales growth - Overseas
Strategic Priority Accelerating organic sales growth - Overseas = coe Revenue growth (Exports): +42.9% 14% of Group revenue (H1 FY24: 12%) Acceleration of Chek Lap Kok (HK) airport work + Investment in overseas sales resource: growing pipeline of opportunities AO International Distributors Tradition
Slide 22: Driving margin improvement
Strategic Priority Driving margin improvement Medium term operating margin growth opportunities Dover site closure ARP synergies Operational leverage Target range 15-20% <> Eas De | 14.1% The Alumasc Group plc FY19 - FY24: 435bp margin growth (9.8%-14.1%) HY25 margin stable at 14.1% Continual focus
Slide 23: Championing sustainable building products
Strategic Priority Championing sustainable building products Building energy efficiency Improving building energy efficiency with products that improve insulation and control insulation, absorb CO, and facilitate solar power generation Regulatory drivers: Future Homes Standard 2025 Building regulati
Slide 24: Value enhancing investment - organic growth
Strategic Delivery Value enhancing investment - organic growth Investment for long term growth Targeted investments in capability: Sales coverage in Building Envelope Senior management/overseas sales resource in Water Management Access covers automation in Water Management Efficiency/new product dev
Slide 25: Value enhancing investment - M&A
Strategic Delivery Value enhancing investment - M&A M&A target characteristics Case studies Bolt-on (to c.£20m EV) Acquisition Date Cost ROl ROI Operating in Alumasc markets/close (initial) _ | (act/target) adjacents Timloc Sep 2004 £3.4m 8% 35% Consistent with Group margin and cash Rainclear Dec 20
Slide 26: Outlook
umasc O6. Outlook Ke Paul Hooper, Chief Executive Simon Dray, Group Finance Director rN AL SN oy rq
Slide 27: Outlook
> After excellent H1: > Expect continued resilient UK performance despite persistent demand headwinds > H2 export growth likely to normalise > Strategic progress on margin targets from further efficiency improvements > Minimal impact from NIC/NLW increase > — £0.6m gross annual cost from April 2025
Slide 28: Thank you
p ‘alumasc Thank you www.alumasc.co.uk BSL nd EE LSID SE MO aw A> ES ROS Alumasc Water Management - AX
Slide 29: Appendices
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Slide 30: Underlying to statutory profit reconciliation
Appendix Underlying to statutory profit reconciliation (£m) H1FY25 H1FY24 Operating Profit/(loss) Operating Profit/(loss) Profit Before Tax Profit Before Tax £'000 £'000 £'000 £'000 Underlying profit 8.1 75 67 6.3 Amortisation of acquired intangible assets (0.2) (0.2) - - Net IAS 19 defined benefit
Slide 31: Diversified end markets
Appendix Diversified end markets % of Group revenue Water Management Building Envelope Products < % of Group profit >80% revenue derived from environmental products >80% revenue supported by legislation/regulations Private vs Public Housebuilding vs Non-residential vs Commercial/infrastructure RMI v
Slide 32: Industry forecasts
Appendix Industry forecasts The Alumasc Group plc £bn 300 250 200 150 100 50 00 £bn 350 300 250 200 150 10.0 50 00 0.4% Actual 2022 0.1% Actual 2022 Commercial construction 46.8% 9.8% 0.0% — #2.7% Actual Estimate _Forecast_| Projection 2023 2024 2025 2026 Infrastructure 44.3% 9.9% 41.0% 41% Actual E
Slide 33: Medium/long term structural growth drivers
Appendix Medium/long term structural growth drivers Growth drivers Building Water Housebuilding Envelope Management Products Under-supply of new housing v vv VVV Ageing building stock WV VVV v Demand for more sustainable materials WV VVV vv Energy efficient buildings WV v VVV Urban drainage/wastewat