Vincorion Se · XETR:V1NC
Vincorion — Q1 2026 Earnings Presentation
28 slides from Vincorion's earnings presentation, May 7, 2026
Slide 1: Q1 2026 Results
Q1 2026 RESULTS 7 May 2026 Kajetan von Mentzingen Dieter Holst CEO CFO
Slide 2: Disclaimer
DISCLAIMER By accessing this presentation, you agree to be bound by the following limitations. This presentation has been prepared for information and background purposes only. It does not constitute or form part of, and should not be construed as, an offer of, a solicitation of an offer to buy, or
Slide 3: Strategy & Business Update
Kajetan von Mentzingen CEO 1. STRATEGY & BUSINESS UPDATE
Slide 4: Vincorion Very Well on Track to Deliver the Ramp-Up
VINCORION VERY WELL ON TRACK TO DELIVER THE RAMP-UP Q1 2026 in a nutshell Key financials Constant increase of total order backlog 1 secures multi-year revenue visibility € ~€1.2b +€ 108m vs. year-end 2025 Total order backlog Strongest Q1 revenues in VINCORION’s history 2 on track to deliver FY 2026
Slide 5: We Power Your Mission
WE POWER YOUR MISSION OPERATIONAL HIGHLIGHTS Q1 2026 POWERING EUROPEAN REARMAMENT Vehicle Systems1 Power Systems2 Aviation3 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Revenue €22.0m €35.4m Revenue €14.5m €20.7m Revenue €13.7m €13.7m +61% +43% = ▪ Energy supply, storage and management ▪ Ground b
Slide 6: Ramp-Up Measures Start to Take Effect Across All Segments
RAMP-UP MEASURES START TO TAKE EFFECT ACROSS ALL SEGMENTS 1 Deployment of site development roadmaps according to plan 2 Continued industrialization of production areas and implementation of pulse lines 3 Simplification of supply chain processes and logistical flows 4 Increased strategic partnerships
Slide 7: Vincorion Remains a Compelling Investment Opportunity
VINCORION REMAINS A COMPELLING INVESTMENT OPPORTUNITY 1 Outperforming defense market growth in a structural supercycle 2 Winning products on leading platforms at the heart of modern warfare 3 Sole source partner for fully integrated mission critical applications 4 Building up decades of recurring af
Slide 8: Financial Overview
Dieter Holst CFO 2. FINANCIAL OVERVIEW
Slide 9: Vincorion's Financial Snapshot
VINCORION’S FINANCIAL SNAPSHOT Financial KPIs Key highlights (€m) FY 2025 Q1-25 Q1-26 Fixed order backlog1 435.4 286.3 515.7 Sustained increase in fixed order backlog underscores strong market demand and highlights successful new business wins and program % growth 46.7% 18.4% 80.1% expansions Orde
Slide 10: Robust Order Backlog Expansion Reflecting Strong Demand
ROBUST ORDER BACKLOG EXPANSION REFLECTING STRONG DEMAND Total order backlog (€m) Commentary Total Order backlog to revenue ratio1 ~4.5x ◼ Growing total order backlog underpins 251 1,183 strong market demand ~1,074 ◼ Fixed order backlog growth through strong 416 contract conversion, led by OE in the
Slide 11: Building Backlog and Executing on It
BUILDING BACKLOG AND EXECUTING ON IT Total Order Backlog (€m) Revenue (€m) Commentary Total Order Backlog to LTM Revenue1 4.5X 4.5X +10% +40% ◼ Ongoing order backlog growth, particularly for original equipment (OE) across Vehicles 1,183 69 1,075 and Power Systems Segment 49 ◼ Significant top-line gr
Slide 12: Adjusted Gross Profit and EBIT Growth Driven by Strong Operational Execution
ADJUSTED GROSS PROFIT AND EBIT GROWTH DRIVEN BY STRONG OPERATIONAL EXECUTION Adjusted gross profit1 (€m) Adjusted EBIT (€m) Commentary Adj. gross profit margin Adj. EBIT Margin 29.2% 29.0% 19.4% 18.0% +30% ◼ Adjusted gross profit expansion reflected +39% higher revenues and sustained margin 20 12 st
Slide 13: Strong Segment Growth, Supported by Solid Underlying Gross Profit Performance
STRONG SEGMENT GROWTH, SUPPORTED BY SOLID UNDERLYING GROSS PROFIT PERFORMANCE Revenue (€m) Growth (%) Adj. gross profit (€m) Growth (%) Commentary ( ) adj. GP margin in % of segment revenues Revenue 20 ◼ Vehicle Systems: growth led by stabilization 69 +39% (29%) +40% 4 products for Leopard 2 14 - (2
Slide 14: Underlying Cash Generation Close to Breakeven
UNDERLYING CASH GENERATION CLOSE TO BREAKEVEN AND FULLY CONSISTENT WITH SEASONAL TRAJECTORY Key cash flow items (€m) Commentary Q1-25 Q1-26 1◼ Strong Adj. EBITDA development reflecting continued business Adj. EBITDA1 1 11.6 14.6 growth Reversal of adjustments (0.7) 0.7 2◼ CAPEX increased to enable t
Slide 15: Outlook
Speaker TBD / Pictures to come Kajetan von Mentzingen CEO 3. OUTLOOK
Slide 16: Well-Positioned for Long-Term Revenue Growth
WELL-POSITIONED FOR LONG-TERM REVENUE GROWTH Mid-term revenue target Long-term revenue potential Capture Leverage next-gen Continue technologies platforms to grow across around existing segments products Develop new Continue & platforms business models to grow with market Bridge in aftermarket techn
Slide 17: FY2026 Guidance Confirmed
FY2026 GUIDANCE CONFIRMED FY 2026 Guidance Mid-term target1 Revenue €280-320m >15% CAGR Adj. EBIT2 ~18-19% ~20% Margin 17 1. 2026 onwards; 2. Adjusted EBIT is defined as earnings before interest and tax (EBIT), adjusted to exclude PPA Effects and certain items that management considers to be
Slide 18: Q&A
Q&A
Slide 19: Contact Details
Upcoming IR Events 13 August 2026 H1 2026 Interim Report 11 November 2026 Q3 2026 Quarterly Statement More Information Contact details https://ir.vincorion.com/en INVESTOR RELATIONS IR@VINCORION.COM
Slide 20: Financial Section
FINANCIAL SECTION
Slide 21: Profit or Loss
PROFIT OR LOSS 21 ¹The ultimate parent company was reorganized in the reporting period (formerly: VINCORION Holding GmbH; currently: VINCORION SE).
Slide 22: Comprehensive Income
COMPREHENSIVE INCOME 22 ¹The ultimate parent company was reorganized in the reporting period (formerly: VINCORION Holding GmbH; currently: VINCORION SE).
Slide 23: Balance Sheet – Total Assets
BALANCE SHEET – TOTAL ASSETS 23
Slide 24: Balance Sheet – Total Equity and Liabilities
BALANCE SHEET – TOTAL EQUITY AND LIABILITIES 24
Slide 25: Changes in Equity
CHANGES IN EQUITY ¹ The contribution of the VINCORION Group under the control of VINCORION Holding GmbH to VINCORION SE prior to the IPO was treated in accordance with the IFRS principles of continuation accounting. The comparative financial information presented above corresponds to the figures alr
Slide 26: Cash Flow (1)
CASH FLOW (1) CONSOLIDATED STATEMENT OF CASH FLOW FOR Qi 2026 VINCORION 1Jan 2026 1Jan 2025 EUR k 31 Mar 2026 31 Mar 2025 Earnings before taxes (EBT) 9,936 5,587 Finance income and expenses 2.481 2,279 Depreciation and amortisation 2,800 3,049 Profit / Loss on the disposal of non-current assets - @
Slide 27: Cash Flow (2)
CASH FLOW (2) CONSOLIDATED STATEMENT OF CASH FLOW FOR Q1 2026 27
Slide 28: Reconciliation to Consolidated Financial Reporting
RECONCILIATION TO CONSOLIDATED FINANCIAL REPORTING 28