Somero Enterprises, Inc. · LSE:SOM
Somero Enterprises — H1 2025 Earnings Presentation
41 slides from Somero Enterprises's earnings presentation, Sep 9, 2025
Slide 1: 2025 Interim Results Presentation
2025 INTERIM RESULTS PRESENTATION
Slide 2: Agenda
AGENDA Tim Averkamp Welcome & Opening Remarks Chief Executive Officer & Director H1 2025 Results Joined April 2025 Product Innovation 30+ yrs. in Intl. Industrial Mfg., Construction Machinery, & Innovation BS Mech Engineering Outlook Masters Business Administration Strategic Framework Questions Vinc
Slide 3: At a Glance
AT A GLANCE North America Offices What we do Global Headquarters & Training Center Somero’s laser-guided technology and Fort Myers, FL U.S.A. wide-placement methods have been Production, Operations, & Support specified for use in a wide range of Atlantic Mine (Houghton), MI USA construction projects
Slide 4: At a Glance
AT A GLANCE What makes us different Our beneficiaries Innovative product leadership Customers Building owners and end users – Pioneered Laser Screed® machine market in 1986 – Quality – Operational efficiency – Product portfolio grown to 20+ products – Productivity – Improved physical appearance – Ov
Slide 5: Products & Applications
PRODUCTS & APPLICATIONS RELEASE PRODUCT APPLICATION MARKET BOOMED SCREEDS: 2025 SRS-4e 2024 SRS-6s 2022 S-PS50 25,000-50,000+ ft2 2022 S-28EZ placements warehouses, SLAB ON GRADE SRS-4 SRS-6s S-28EZ 2014 S-22EZ (re-launch in ‘23) manufacturing CAST-IN-PLACE assembly plants, tilt- 2012 S-15R panel an
Slide 6: Products & Applications
PRODUCTS & APPLICATIONS RELEASE PRODUCT APPLICATION MARKET WALK-BEHIND SCREEDS: Small commercial, residential SLAB ON GRADE 2009 Mini Screed® and multi-level placements SLAB ON DECK 2002 CopperHead ® XD 3.0 Mini Screed ® CopperHead® MATERIAL APPLICATION: Projects involving concrete 2024 STS-11HC hos
Slide 7: Leaders in Leveling
LEADERS IN LEVELING Building Owners/End-Users Specifying Flat, Level Floors: Extensive track record of Golden Trowel Awards for laser screeded floors won using a Somero Laser Screed® Golden Trowel award given annually to commercial concrete contractors that achieve the highest industry standards in
Slide 8: Key Messages
KEY MESSAGES Disciplined approach to H1 against a FY guidance reaffirmed with trading challenging market backdrop improvement expected in H2 Near-term headwinds but resilient Introduction of Strategic Framework underlying demand and long-term to guide the next phase of growth drivers intact Steadfas
Slide 9: H1 2025 Highlights
H1 2025 HIGHLIGHTS Key leadership appointments with Tim Averkamp as Implemented a second round of cost-cutting Chief Executive Officer and Bob Scheuer to Chairman measures to mitigate the impact of lower Long-term demand drivers for non-residential revenues on profits construction remain intact unpi
Slide 10: North America
Fort Myers, FL NORTH AMERICA US$ 31.8m in revenue in 2025 (2024: US$ 38.8m) Tariffs, restrictive immigration policies, and high interest rates have caused global uncertainty and caution in investment decisions Revenue (direct) from new customers represented 15% of the total NA revenue in 2025 (2024:
Slide 11: Europe
Chesterfield, ENG EUROPE US$ 3.5m in revenue in 2025 (2024: US$ 7.1m) Europe, 9% Revenue (direct) from new customers represented 38% of the total European revenue in 2025 (2024: 32%) Parts and service revenue, which includes accessories % OF REVENUE sold with machines, declined to a lesser extent (1
Slide 12: Australia
AUSTRALIA US$ 2.1m in revenue in 2025 (2024: US$ 3.2m) Australia, 5% Revenue (direct) from new customers represented 25% of the total AUS revenue in 2025 (2024: 62%) Australia’s market declined 34% as it continues to % OF REVENUE normalizes to more sustainable levels after an initial BY REGION uptak
Slide 13: Rest of World
REST OF WORLD ROW, 6% US$ 2.4m in revenue in 2025 (2024: US$ 2.7m) Revenue from new customers represented 17% of the total ROW revenue in 2025 (2024: 53%) % OF REVENUE BY REGION ROW includes several small markets, therefore fluctuations in each geography are normal 13
Slide 14: Sales by Product
SALES BY PRODUCT US$ MILLIONS H1 2025 H1 2024 Commentary Boomed screeds(1) $ 13.3 $ 19.1 Product mix is dictated by the size and Ride-on screeds(2) 7.1 10.7 type of projects Remanufactured machines 3.4 4.1 All products lines have been affected by macro factors 3-D Profiler System® 2.7 4.3 SkyScreed®
Slide 15: Financial Highlights
FINANCIAL HIGHLIGHTS US$ MILLIONS (EXCEPT PER SHARE DATA) H1 2025 H1 2024 Revenue $ 39.8 $ 51.8 Commentary Adjusted EBITDA (1,2) 6.4 12.4 Profitability decline attributable to overall decrease in sales across most territories Adjusted EBITDA margin (1,2) 16% 24% and product lines Profit before tax 4
Slide 16: Operating Results
OPERATING RESULTS US$ MILLIONS H1 2025 H1 2024 Commentary Revenue $ 39.8 $ 51.8 Gross margin pressured by low sales volume relative to Gross profit 21.0 28.3 direct labor and overhead costs sustained in H1, partly Operating expenses: offset by operational workforce reduction at the end of April Sell
Slide 17: Financial Position
FINANCIAL POSITION JUNE DECEMBER US$ MILLIONS 30, 2025 31, 2024 Cash $ 24.6 $ 29.5 Commentary Accounts receivable, net 3.9 9.3 Cash decrease from year-end 2024 reflects US$ 7.1m dividend Inventory 24.4 18.9 payments, capex and share buyback, offset by cash flow from Prepaid & other 2.6 3.7 operation
Slide 18: Cash Flows
CASH FLOWS US$ MILLIONS H1 2025 H1 2024 Net income $ 2.6 $ 8.1 Adjustments to reconcile to cash Commentary 2.5 0.6 provided by operating activities Decrease in net income mainly attributable to the revenue Net working capital changes (1.0) (5.8) decline compared to the prior year period Net cash pro
Slide 19: 2025 Innovation
2025 INNOVATION SRS-4e Virtual Reality Training Simulation Somero Experts App The first Somero® battery operated Boomed Laser Screed® Machine No Emissions and no compromise on productivity Same screeding power as gas or diesel On-board charging, including generator package 5 hours of run time, scree
Slide 20: 2025 Innovation
2025 INNOVATION US Concrete Customer Segmentation Greater customer capabilities and readiness of complex Total Addressable Market 40,000+ Contractors and labor demanding projects. Elevated FF (Floor Flatness) / FL (Floor Levelness) Specs. Commercial Balance affordability/ease of use between segments
Slide 21: 2025 Innovation
2025 INNOVATION Simplified Operator Controls Fast and efficient concrete screeding in minutes Training Videos via QR Codes & Somero Experts App See the launch video https://youtu.be/z9W6s_IBUIw?si=ord7vNuN-nckBUIG 21
Slide 22: 2025 Innovation
2025 INNOVATION Ruggedness and Simplicity Lightweight and maneuverable 4-wheel drive, ride-on platform OASIS Laser Control System Somero® Quick GradeSet System Quick Pass Training videos – English & Spanish Clean-Assist Screed Head Quick-Attach Screed Head On-Board, Stowable Receiver Poles On-Board,
Slide 23: 2025 Innovation
2025 INNOVATION Next Generation S-15EZ Improved Floor Quality & Increased Profitability Somero® Quick GradeSet System OASIS Laser Control System Column-Block Protection 360° Machine Rotation 2-Wheel, 4-Wheel, and Crab Steering Full-time 4-Wheel Drive Head Rotation with Independent Auger and Vibrator
Slide 24: 2025 Outlook
2025 OUTLOOK Long-term US demand for non-residential construction remains Anticipate trading improvement in H2 over H1 supported by sound unpinned by positive of trends and end-markets normal seasonality and contributions from two new products Global uncertainty, including effects of tariffs, restri
Slide 25: Long-Term Strategic Framework
LONG-TERM STRATEGIC FRAMEWORK 25
Slide 26: Phase 1 Founding, Phase 2, Next Phase
Phase 1 Phase 2 Phase 3 – Next Phase Founding First Growth Phase Somero 3.0 - Shaping Excellence 26 26
Slide 27: Supportive Long-Term Trends: Faster. Flatter. Fewer.
SUPPORTIVE LONG-TERM TRENDS FASTER. FLATTER. FEWER.® Shortage of skilled labor Increasing requirements for high floor flatness and level specifications Somero Value Proposition On-shoring of manufacturing and logistics Increase speed, productivity, and pour sizes U.S. federal funded CHIPS and Scienc
Slide 28: Long-Term Strategic Framework
LONG-TERM STRATEGIC FRAMEWORK To shape a future where innovation and excellence lead the way! Fortify the present to secure our future Innovate Innovate Somero 3.0 to transform challenges into Shaping Excellence tomorrow’s opportunities Sustainable Growth Amplify our influence to extend our Amplify
Slide 29: Fortify. Innovate. Amplify.
LONG-TERM STRATEGIC FRAMEWORK FORTIFY. INNOVATE. AMPLIFY. Fortify the present to secure our future Create a resilient and reliable foundation that not only safeguards our existing operations but empowers us to build on our trusted successes Focus Areas: Operational excellence Commercial excellence C
Slide 30: Fortify. Innovate. Amplify.
LONG-TERM STRATEGIC FRAMEWORK FORTIFY. INNOVATE. AMPLIFY. Innovate to transform challenges into tomorrow’s opportunities Champion continuous reinvention and creativity across all levels. Embrace bold ideas to push us forward and adapt to market shifts with agile strategies. Focus Areas: New product
Slide 31: Fortify. Innovate. Amplify.
LONG-TERM STRATEGIC FRAMEWORK FORTIFY. INNOVATE. AMPLIFY. Amplify our influence to extend our impact and multiply our reach Expand and scale our reach by multiplying the impact of our initiatives through strategic partnerships, market expansion, and increased external visibility. Focus Areas: Growth
Slide 32: Long-Term Strategic Framework
LONG-TERM STRATEGIC FRAMEWORK To shape a future where innovation and excellence lead the way! Fortify the present to secure our future Innovate Innovate Somero 3.0 to transform challenges into Shaping Excellence tomorrow’s opportunities Sustainable Growth Amplify our influence to extend our Amplify
Slide 33: Questions
QUESTIONS 33
Slide 34: Appendices
APPENDICES 34
Slide 35: Our Proven Model
OUR PROVEN MODEL Warehousing Assembly Parking Commercial Exterior Retail plants structures construction paving centers WHAT WHAT INNOVATIVE PRODUCT LEADERSHIP MAKES INDUSTRY EXPERTISE, TRAINING AND SUPPORT WE DO US Pioneered Laser Screed® machine market Somero’s laser-guided DIFFERENT in 1986 Proven
Slide 36: Training and Expertise
TRAINING AND EXPERTISE Somero does more than sell equipment. The Company helps customers grow profitable businesses by providing access to world class training and concrete placement & finishing expertise. Since 2021, Somero has enhanced its on-demand and virtual training capabilities to meet our cu
Slide 37: Global Reach
GLOBAL REACH Leaders in Levelling Customers in 90+ Countries At Somero we provide industry-leading concrete levelling equipment, training, North America Belgium education and support to customers in Fort Myers, Florida: Kampenhout: over 90+ countries. Global headquarters and Sales and service office
Slide 38: Our ESG Framework
OUR ESG FRAMEWORK Our goal is to strike the right balance between shareholder expectations and the needs and concerns of our employees and customers, the communities we live in, and the environment. Social Somero is dedicated to fostering an open and inclusive working en- vironment for our employees
Slide 39: ESG in Action: Social
ESG IN ACTION: SOCIAL Concrete Industry Management Omega House S-485 Donation Industry Support Charitable Donations Employee Volunteering PTO Employee Training Somero Concrete Institute 39
Slide 40: ESG in Action: Environmental
ESG IN ACTION: ENVIRONMENTAL Investments and actions to re- Environmental Study Phase I: 2021 Middle Tennessee State Uni- duce waste, energy and water versity research study identified environmental benefits from the consumption: use of Somero laser screed equipment over traditional manual Cardboard
Slide 41: Historical Results
HISTORICAL RESULTS YEARS ENDED DECEMBER 31, US$ Millions (except per share data) 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Revenue 24.2 21 21.9 32.2 45.1 59.3 70.2 79.4 85.6 94.0 89.3 88.6 133.3 133.6 120.7 109.2 Revenue growth -53.4% -13.2% 4.3% 47.0% 40.1% 31.