Interpump Group S.p.a. · MIL:IP
Interpump — Q1 2025 Earnings Presentation
49 slides from Interpump's earnings presentation, May 2025
Slide 1: Interpump Group
INTERPUMP GROUP May 2025
Slide 2: Index
INDEX INTERPUMP GROUP ▪• GROUP OVERVIEW KEY HIGHLIGHTS ▪• 2025 OUTLOOK 4Q-2023 PRELIMINARY FINANCIAL RESULTS ▪ 1Q2025 FINANCIAL RESULTS • GROUP SUSTAINABILITY PATH ▪ ANNEX • OUTLOOK • ANNEX 1
Slide 3: Index
INDEX ▪• GROUP OVERVIEW KEY HIGHLIGHTS • 4Q-2023 PRELIMINARY FINANCIAL RESULTS • GROUP SUSTAINABILITY PATH • OUTLOOK • ANNEX 2
Slide 4: Interpump a Delivering Group
3Q-3Q2023YTD INTERPUMP A DELIVERING GROUP ▪ € 2.078m of turnover and € 457m of EBITDA (22% on net sales) in 2024 divided between two divisions − Hydraulics and Water Jetting ▪ Hydraulics: around 70% of Group sales, EBITDA margin around 20% − Wide range of components for mobile and non-mobile hydraul
Slide 5: Excellence Track Record
2023 INTERPUMP A DELIVERING GROUP – EXCELLENCE TRACK RECORD ▪ Since IPO in 1996 a track record of excellence and GROUP 1996-2024 SALES EVOLUTION (€ million) resilience 2024: post COVID normalisation Sales: -7.2% ▪ Sales: around 8% of growth (1), with only 5 years 2020: COVID crisis Sales: -5.4% of d
Slide 6: Excellence Track Record – FCF
2023 INTERPUMP A DELIVERING GROUP – EXCELLENCE TRACK RECORD ▪ FCF: growing generation and consistent GROUP 1996-2024 FCF EVOLUTION (€ million) exploitation in worsening environment 2024: post COVID normalisation – EBITDA excellence and resilience Sales: -7.2% and EBITDA: -14.9% EBITDA margin: from 2
Slide 7: Sales Diversification
ANNEX INTERPUMP A DELIVERING GROUP – SALES DIVERSIFICATION GROUP 2024 sales: € 2.078m OTHERS: 1% EARTH MOVING MACHINE: 6% GENERIC DEALERS: 16% PACIFIC AREA: 13% CONSTRUCTION: 8% REST of THE WORLD: 9% CLEANING: 5% AGRICOLTURE: 8% GENERIC CONTRACTORS: 4% EUROPE: 50% OTHER INDUSTRIAL LIFT: 6% SECTOR: 8
Slide 8: Market Diversification
3Q-3Q2023YTD INTERPUMP A DELIVERING GROUP – MARKET DIVERSIFICATION WATER JETTING HYDRAULICS HIGH PRESSURE PUMPS DEVICES FLOW PROCESSING & SYSTEMS COMPONENTS • Power take-offs, cylinders, hydraulic motors & gear • Piston pumps 1-2,000hP used in • Stainless steel agitators, mixers, pumps, valves high-
Slide 9: Application Diversification
3Q-3Q2023YTD INTERPUMP A DELIVERING GROUP – APPLICATION DIVERSIFICATION HYDRAULICS WATER JETTING TRUCK OUTFITTERS FOOD, COSMETICS (1) AUTOMOTIVE EARTH MOVING Tipping trucks High-pressure homogenizers Rail engine heads deburring Excavators Trash collection Water-jet food cutting, Bodywork cutting Bac
Slide 10: Brand & Product Diversification
3Q-3Q2023YTD INTERPUMP A DELIVERING GROUP – BRAND&PRODUCT DIVERSIFICATION WATER JETTING HYDRAULICS HIGH PRESSURE PUMPS FLOW PROCESSING DEVICES & SYSTEMS COMPONENTS BERTOLI GENERAL PUMP Homogenizers INTERPUMP HYDRAULICS WALVOIL – WHITE - EUROFLUID INTERPUMP MUNCIE POWER Directional control valves, PR
Slide 11: Strategy Milestones
3Q-3Q2023YTD INTERPUMP A DELIVERING GROUP – STRATEGY MILESTONES FLEXIBILITY • Vertically integrated manufacturing DIVERSIFICATION (wherever possible) Product mix and sales strategy • Across the widest possible range • Use of general-purpose programmable of applications, products, can adapt fast to m
Slide 12: Strategy Milestones
3Q-3Q2023YTD INTERPUMP A DELIVERING GROUP – STRATEGY MILESTONES Volatility reduction through multiple cycles exposure Effective reaction to unexpected swings FLEXIBILITY • Vertically integrated manufacturing DIVERSIFICATION (wherever possible) Product mix and sales strategy • Across the widest possi
Slide 13: 2023-25 Group Commitments
3Q-3Q2023YTD INTERPUMP A DELIVERING GROUP – 2023-25 GROUP COMMITMENTS ▪ 2023-25 commitments, 1 target with 2 guidelines (1) 2023-25 GROUP EXPECTED SALES EVOLUTION (1) 3,500 2022-2025 sales growth: +25% ▪ One target: sales 3,000 – around 25% of total growth(2) 2,500 2,000 ▪ Two guidelines: profitabil
Slide 14: Index
INDEX ▪• GROUP OVERVIEW KEY HIGHLIGHTS ▪• 2025 OUTLOOK 4Q-2023 PRELIMINARY FINANCIAL RESULTS • GROUP SUSTAINABILITY PATH • OUTLOOK • ANNEX 13
Slide 15: 2025 Outlook Sales Guidance Confirmed
2025 OUTLOOK SALES GUIDANCE CONFIRMED ▪ April evolution(1) in line with Group expectations – Until now no evidence of both “Germany’s Infrastructure Fund” and “tariffs tensions” impacts ▪ Local and/or regional production – for most or even all production phases – has always been one of the most impo
Slide 16: Index
INDEX A DELIVERING GROUP ▪• GROUP OVERVIEW KEY HIGHLIGHTS ▪• 2025 OUTLOOK 4Q-2023 PRELIMINARY FINANCIAL RESULTS ▪ 1Q2025 FINANCIAL RESULTS • GROUP SUSTAINABILITY PATH • OUTLOOK • ANNEX 15
Slide 17: 1Q2025 Group – Results Consistent with Expectations
1Q2025 GROUP – RESULTS CONSISTENT WITH EXPECTATIONS ▪ Results consistent with 2025 expectations 2024 and 2025 SALES & EBITDA EVOLUTION (1) % change compared to previous reporting period ‒ Sales: -8.1% 1Q2024 1Q2025 • Evolution consistent with Group assumptions 0% • Stagnation in Hydraulic stronger t
Slide 18: 1Q2025 Group – Results Consistent with Expectations
1Q2025 GROUP – RESULTS CONSISTENT WITH EXPECTATIONS ▪ 1Q2025 – Sales: Hydraulic stagnation stronger than Water Jetting growth – Profitability: diversification and flexibility drove to negative flow through minimisation and no dilution coming from acquisitions – NFP: profitability decrease impact mit
Slide 19: 1Q2025 Divisions Results
1Q2025 DIVISIONS – RESULTS CONSISTENT WITH DIVISION FEATURES ▪ Hydraulics – Sales: stagnation at the bottom of 2H2024 – EBITDA: effective margin protection despite 6 consecutive Quarters of negative sales ▪ Water-Jetting – Sales: “process pump” best performer among most important categories – EBITDA
Slide 20: 1Q2025 Sales – Stagnation Stronger than Growth
1Q2025 SALES – STAGNATION STRONGER THAN GROWTH ▪ 1Q2025: stagnation stronger than growth 1Q2025 GROUP SALES EVOLUTION – Hydraulics: stagnation spread to almost all market applications 700 -4.5% – Water Jetting: organic growth better than acquisitions 650 600 € 545m -8.1% 550 +3.1% +0.6% € 522m 500 4
Slide 21: 1Q2025 NFP – TWC & CAPEX Normalisation
1Q2025 NFP – TWC & CAPEX NORMALISATION MITIGATED PROFITABILITY IMPACT ▪ NFP of € 383m compared to € 409m as of December 2024(1) NFP EVOLUTION (1) 500 (€ m) ▪ FCF: € 29m, profitability decrease impact mitigated 480 460 by ongoing TWC (2) and CAPEX normalisation 440 € 409m € 30m – TWC: absorption redu
Slide 22: 1Q2025 NFP – CAPEX – Last Important Project
1Q2025 NFP – CAPEX – LAST IMPORTANT PROJECT ▪ New Interpump Hydraulics headquarter – 62,000sq. metres, of which almost 24,000sq. covered, a total area increase of around 30% – Best environmental standards ▪ Relocation started at 2024 end, transfer should be completed before autumn – New machine deli
Slide 23: 2025 ESG Actions
1Q2025 2025 ESG ACTIONS 2023-2025 ESG JOURNEY 2025 ACTIONS UPDATINGS E.2 (1) Carbon intensity reduction E.3 (1) Increase of renewable energy consumption E.5 Circular economy – Phase 2 E.6 Water monitoring system S.3 Increase of non-compulsory training Approved by the Board of Directors S.4 Global mo
Slide 24: Index – ESG Path
INDEX ESG PATH ▪• GROUP OVERVIEW KEY HIGHLIGHTS ▪• 2025 OUTLOOK 4Q-2023 PRELIMINARY FINANCIAL RESULTS ▪ 1Q2025 FINANCIAL RESULTS • GROUP SUSTAINABILITY PATH ▪ ANNEX • OUTLOOK • ANNEX 23
Slide 25: Annex
ANNEX ▪ DISCLAIMER ▪ 1Q2025 DETAILS ▪ 2024 DETAILS ▪ 2023-2025 ESG PLAN 24
Slide 26: Disclaimer
ANNEX ▪ DISCLAIMER 25
Slide 27: Disclaimer − Performance Indicators
ANNEX DISCLAIMER − PERFORMANCE INDICATORS The Group uses several alternative measures that are not identified as accounting parameters in the framework of the IFRS standards in order to allow the trend of economic operations and the Group's financial position to be better evaluated. Such indicators
Slide 28: Disclaimer – Forward Looking Statements
ANNEX DISCLAIMER – FORWARD LOOKING STATEMENTS This document has been prepared by Interpump Group S.p.A for not constitute an offer to sell or a solicitation to buy or subscribe to use during meetings with investors and financial analysts and is Company shares. Neither this document nor a portion the
Slide 29: 1Q2025 Details
ANNEX ▪ DISCLAIMER ▪ 1Q2025 DETAILS 28
Slide 30: Sales Details – Organic Evolution – Group
ANNEX SALES DETAILS – ORGANIC EVOLUTION – GROUP GROUP 2020-2025 ORGANIC GROWTH EVOLUTION by QUARTER 2020: -12.6% - 2021: +20.1% - 2022: +13.7% - 2023: +6.9% - 2024: -9.0% - 2025YTD: -8.1% 50% 40% 39.4% 30% 17.9% 18.7% 20% 15.7% 14.2% 10% 11.6% 14% 9.1% 12.6% 12.5% 4% 0% -7.8% -3.4% -10% -1.7% -11.2%
Slide 31: Sales Details – Organic Evolution – Divisions
ANNEX SALES DETAILS – ORGANIC EVOLUTION – DIVISIONS HYDRAULICS 2020-2025 ORGANIC GROWTH EVOLUTION by QUARTER 2020: -13.6% - 2021: +22.8% - 2022: +15.9% - 2023: +5.9% - 2024: -14.0% - 2025YTD: -14.5% 60% 50% 47.2% 40% 30% 16.2% 17.8% 19.5% 20% 20.9% 16.2% 13.4% 15.6% 10% 11.1% 8.6% 4.2% 0% 2.3% -6.0%
Slide 32: 2024 Details
ANNEX ▪ DISCLAIMER ▪ 1Q2025 DETAILS ▪ 2024 DETAILS 31
Slide 33: Sales Breakdown – Group
ANNEX SALES DETAILS – SALES BREAKDOWN (1) – GROUP GROUP 2024 sales: € 2.078m OTHERS: 1% EARTH MOVING MACHINE: 6% GENERIC DEALERS: 16% PACIFIC AREA: 13% CONSTRUCTION: 8% REST of THE WORLD: 9% CLEANING: 5% AGRICOLTURE: 8% GENERIC CONTRACTORS: 4% EUROPE: 50% OTHER INDUSTRIAL LIFT: 6% SECTOR: 8% STEEL A
Slide 34: Sales Breakdown – Hydraulics
ANNEX SALES DETAILS – SALES BREAKDOWN (1) – HYDRAULIC HYDRAULICS 2024 sales: € 1.407m OTHERS: 1% PACIFIC AREA: 10% EARTH MOVING MACHINE: 10% GENERIC DEALERS: 17% REST of THE WORLD: 10% CONSTRUCTION: 8% OTHER INDUSTRIAL SECTOR: 9% AGRICOLTURE: 12% F&B: 1% ENERGY&UTILITIES: 1% MINING: 1% SHIPYARD-MARI
Slide 35: Sales Breakdown – Water Jetting
ANNEX SALES DETAILS – SALES BREAKDOWN (1) – WATER JETTING WATER JETTING 2024 sales: € 671m OTHERS: 1% PACIFIC AREA: 17% CONSTRUCTION: 7% GENERIC DEALERS: 13% ADAPTORS INDUSTRIAL VEHICLES: 4% AUTOMOTIVE: 4% REST of THE WORLD: 10% SHIPYARD-MARINE: 5% CLEANING: 14% OIL&GAS: 5% RAILWAY: 0% ENERGY&UTILIT
Slide 36: Acquisitions Details
ANNEX ACQUISITIONS DETAILS 2024 INTERPUMP GROUP ACQUISITIONS FINANCIAL DATA (1) IMPLIED First consolidation ACQUIRED COMPANIES EBITDA Additional Total EV/EBITDA Group division Sales Margin Information consideration PP CHINA April 2024 9 April YRP FLOW TECNOLOGY € 10m 10% - € 2.9m 2.9x Water Jetting
Slide 37: 2023-2025 ESG Plan
ANNEX ▪ DISCLAIMER ▪ 1Q2025 DETAILS ▪ 2024 DETAILS ▪ 2023-2025 ESG PLAN (1) Please refers to Group web site for specific documentation on the topic (“2024 ESG Actions Overview”, January 2025) (1) Please refers to Group web site for specific documentation on the topic (“2023 ESG Activities Overview”,
Slide 38: Three Priorities for Three Pillars
ANNEX THREE PRIORITIES FOR THREE PILLARS SUPPORTED GRI 2023-2025 KEY TARGETS and SDG ▪ Definition of Group “Carbon neutrality” strategy 2023 E ▪ Reduction of Group “Carbon intensity” 2025 ▪ Increase of renewed electricity consumption 2025 305-1 and 2 302-1 ▪ Injury rate improvement 2024 S ▪ ESG supp
Slide 39: Highlights - A Delivering Group
ANNEX HIGHLIGHTS - A DELIVERING GROUP ANALYSIS AND MEASUREMENT BUILDING GROUP LEADING TO ESG FOUNDATIONS 2030 AND 2050 DECARBONISATION TARGETS 2022 2023 2024 2025 2027 ▪ E.1 - Carbon neutrality strategy ▪ E.2 - Carbon intensity reduction ▪ E.4 - Circular economy (phase 1) ▪ E.3 - Increase of renewab
Slide 40: ESG Plan – Climate Change
ANNEX ESG 2023-25 PLAN – LEADING TO 2030-50 TARGETS E ▪ 3 main streams – Climate change – Product life cycle – Water efficiency ▪ Formalisation of Group “E” strategy and policies is the cornerstone ▪ Approximately € 10m of CAPEX and not material impact on Group G&A in the plan horizon – CAPEX: aroun
Slide 41: ESG Plan – Climate Change, Product Life Cycle
ANNEX ESG 2023-25 PLAN – LEADING TO 2030-50 TARGETS E ACTION ID DESCRIPTION GRI and SDG KPI TIMING K.P.I. Carbon intensity reduction tCO2eq/€ (1) ▪ Focus on Scope 1 and 2 Base year: 2021 E.2 ▪ Main leverages: photovoltaic plants installation Target: -30% Target year: 2025 and renewable purchase ener
Slide 42: ESG Plan – Water Efficiency
ANNEX ESG 2023-25 PLAN – LEADING TO 2030-50 TARGETS E ACTION ID DESCRIPTION GRI and SDG KPI TIMING WATER EFFICIENCY Water monitoring system ▪ Phase 1: mapping of the installed water Base year: 2022 E.6 monitoring systems across the Group N.A. Target year: 2025 ▪ Phase 2: implementation of a continuo
Slide 43: ESG Plan – Health & Safety
ANNEX ESG 2023-25 PLAN – EXPANDING THE SILENT GROWING FOREST S ▪ 4 main streams – Health & safety – People development – Responsible supply chain – Diversity & inclusion ▪ “Pilot projects” will be crucial to capitalise on already existing best practices at subsidiaries level – Walvoil for “ESG suppl
Slide 44: ESG Plan – People Development
ANNEX ESG 2023-25 PLAN – EXPANDING THE SILENT GROWING FOREST S ACTION ID DESCRIPTION GRI and SDG KPI TIMING HEALTH & SAFETY K.P.I. % Group turnover ISO 45001 extension Base year: 2021 S.2 ▪ Focus on subsidiaries with manufacturing sites Target year: 2027 Base: 22% Target: 45% K.P.I. Increase of non-
Slide 45: ESG Plan – Responsible Supply Chain
ANNEX ESG 2023-25 PLAN – EXPANDING THE SILENT GROWING FOREST S ACTION ID DESCRIPTION GRI and SDG KPI TIMING SUPPLY CHAIN RESPONSIBLE ESG supply chain evaluation model extension ▪ First focus on Italy (100% of manufacturing Base year: 2023 S.6 N.A. subsidiaries) Target year: 2024 ▪ Feasibility study
Slide 46: ESG Plan – ESG Cornerstone
ANNEX ESG 2023-25 PLAN – BUILDING ESG FOUNDATIONS G ▪ 3 main streams – ESG as governance cornerstone – Spread of ESG principles, actions and results inside and outside the Group – Tax compliance consolidation in line with best practices ▪ “G” actions will follow the natural path of Group governance
Slide 47: ESG Plan – Principles-Actions-Results
ANNEX ESG 2023-25 PLAN – BUILDING ESG FOUNDATIONS G ACTION ID DESCRIPTION GRI and SDG KPI TIMING ESG PRINCIPLES-ACTIONS-RESULTS Code of Ethics revision Base year: 2022 G.2 N.A. Target year: ▪ To reflect ESG principles in Code of Ethics 1H2023 SPREAD Succession plan formalization G.3 ▪ Succession pla
Slide 48: ESG Plan – Principles-Actions-Results Spread
ANNEX ESG 2023-25 PLAN – BUILDING ESG FOUNDATIONS G ACTION ID DESCRIPTION GRI and SDG KPI TIMING ESG PRINCIPLES-ACTIONS- RESULTS SPREAD Base year: 2022 Updating on ESG journey G.6 N.A. Target year: ▪ Periodic updating on actions implementation annual 47
Slide 49: Mauro Barani
The Manager in charge of preparing the company’s financial reports declares - pursuant to paragraph 2 of Article 154-bis of the Consolidated Law on Finance - that the accounting information contained in this presentation corresponds to the document results, books and accounting records. S.Ilario d’E