Tecnoglass Inc. · NYSE:TGLS
Tecnoglass — Q4 2025 Earnings Presentation
23 slides from Tecnoglass's earnings presentation, Feb 26, 2026
Slide 1: Fourth Quarter and Full Year 2025 Earnings Conference Call
Fourth Quarter and Full Year 2025 Earnings Conference Call February 26, 2026 – TECNOGLASS INC. (NYSE: TGLS) www.tecnoglass.com
Slide 2: Disclaimer
Disclaimer FORWARD LOOKING STATEMENTS This presentation includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future financial performance, future growth and future acquisitions. These statements are bas
Slide 3: Highlights
300 Third Avenue Waltham, Massachusetts l Highlights www.tecnoglass.com
Slide 4: FY 2025 Key Takeaways
FY 2025 Key Takeaways • Revenues up 10.5% YoY to a record $983.6 mm, driven by strong performance across core markets, Revenues by Geography FY’25 continued market share gains through expanding presence in new geographies, and increased traction in the vinyl business 5% • Single-family residential r
Slide 5: U.S. Growth Driving Resilient Multi-family/Commercial Backlog
U.S. Growth Driving Resilient Multi-family/Commercial Backlog Backlog Overview Backlog as of Q4’25 by End Market • Backlog expanded 16.1% YoY to a record $1.3 bn, supported by our strong execution track record on high-profile projects and ability to gain Multifamily / market share, which continues t
Slide 6: Demonstrated History of Converting Backlog to Revenue
Demonstrated History of Converting Backlog to Revenue Backlog to Revenue Conversion $ 1,450 130 % 114% 110% 111% 110 % $ 1,250 106% 107% 100% 102% 95% 93% 97% 95% 93% 92% 90% 88% 88% 89% 92% 91% 87% 90% $ 1,050 86% 84% 75% 70% $ millions 73% 69% 61% 70% 66% 60% 70% 64% 59% 60% $ 850 58% 56% 61% 58%
Slide 7: Single-Family Residential Business Expanding
Single-Family Residential Business Expanding Strong Presence in High-Demand U.S. Markets Product Innovation to Propel Effective Expansion Florida Texas East Coast California & Arizona Operational Showrooms Expected 2025 Openings Core Presence Today Developing Presence Mixed Energy Efficiency & Impac
Slide 8: Residential Stabilization in 2026 with Structural Growth Across Core TGLS Markets
Residential Stabilization in 2026 with Structural Growth Across Core TGLS Markets Construction Spending Put in Place Estimated for the United States • 2026 Marks Stabilization Before Recovery Cycle ➢ Total U.S. construction spending expected to increase +1% in 2026, transitioning toward recovery ➢ R
Slide 9: Financial Update
l Aston Martin Miami, Florida l Financial Update www.tecnoglass.com
Slide 10: Revenue Bridge 2025 vs. 2024
Revenue Bridge 2025 vs. 2024 300.0 Q4 2025 Revenue Bridge (US$M) 250.0 239.6 5.8 2.0 245.3 -2.1 200.0 150.0 100.0 50.0 - Q4'24 Revenues US Single-Family Residential US Multi-Family / Commercial LATAM/Rest of the world Q4'25 Revenues 1,200.0 FY 2025 Revenue Bridge (US$M) 1,000.0 51.8 10.3 983.6 890.2
Slide 11: Adjusted EBITDA Bridge 2025 vs. 2024
Adjusted EBITDA(1) Bridge 2025 vs. 2024 Adjusted EBITDA margin Q4 2025 Adjusted EBITDA Bridge (US$M) 33.1% 25.4% 90.0 79.2 2.3 80.0 -4.6 70.0 -5.1 0.1 -4.8 62.2 -4.9 60.0 50.0 40.0 30.0 20.0 10.0 - 0.1 Q4'24 Adj. EBITDA Volume / Price Mix US Aluminum Aluminum Tariff SG&A Operating Leverage FX Impact
Slide 12: Pricing, Operational, and Strategic Initiatives to Mitigate Aluminum and FX Impacts
Pricing, Operational, and Strategic Initiatives to Mitigate Aluminum and FX Impacts Aluminum Cost Mitigation Actions in Place Aluminum Market Context ▪ Since May we have proactively addressed U.S. aluminum tariffs through ▪ Record-high aluminum prices and premiums creating industry- targeted mitigat
Slide 13: Strong Cash Flow & Balance Sheet
Strong Cash Flow & Balance Sheet Strong Cash Flow Generation • Strong cash flow supported approx. $146 mm of cash returned to ($ in Millions) 170.5 shareholders via buybacks and dividends; Board approved an increase in the share repurchase program to $250 mm, leaving 141.9 138.8 135.8 79.6 approxima
Slide 14: Track Record of Strong Returns Above Peers
Track Record of Strong Returns Above Peers 3 Year Average ROE 3 Year Average ROIC 27% 38% 14% 9% TGLS U.S. Building Products Peers 1 TGLS U.S. Building Products Peers 1 Stronger profitability and significant improvement in working capital driving strong returns Notes: 1. U.S. Building Products Peers
Slide 15: Outlook Update
205 Race Street Philadelphia, Pennsylvania l OUTLOOK UPDATE www.tecnoglass.com
Slide 16: 2026 Outlook
2026 Outlook Full Year 2026 Outlook Assumptions • Invoicing accelerates on lower interest rates and improved High End affordability; Assumes more than 2 rate cuts during the year • Continued share gains plus strong execution in new geographies and vinyl; Executing on current backlog without project
Slide 17: Appendix
3Eleven 601 Hudson Yards New York City, New York l APPENDIX www.tecnoglass.com
Slide 18: Vertically-Integrated & Well-Situated Operations Create Structural Advantages
Vertically-Integrated & Well-Situated Operations Create Structural Advantages Supplier JV & Long Term Sales, Raw Production Final s Suppliers Supply Distribution Materials Process Product Relationships & Installation Tecnoglass integration across the architectural glass and window value chain provid
Slide 19: ESG Strategy
ESG Strategy Outstanding Achievements Environmental Social Governance Enhancing Our Environment Promoting Continuous, Ethical and Responsible Leading Eco-Efficiency and Innovation Growth National Carbon Neutrality Employee Training and Ethics and Compliance Program Education Programs Program +15,000
Slide 20: ESG Strategy
ESG Strategy Our Sustainability Strategy contains the Company’s guidelines and value propositions to meet the expectations of our stakeholders Environmental Social Governance Enhancing Our Environment Promoting Continuous, Ethical and Responsible Leading Eco-Efficiency and Innovation Growth Encourag
Slide 21: Leading Eco-efficiency and Innovation
Leading Eco-efficiency and Innovation Over 85% of Tecnoglass’ total revenues are considered Green Revenues, including low emissivity and impact-resistant glass and windows, contributing to reducing global emissions and mitigating climate change effects 68% 65% 84% of our revenues are of our revenues
Slide 22: Non-GAAP Reconciliation
Non-GAAP Reconciliation1 Adjusted EBITDA and adjusted net (loss) income attributable to parent reconciliation Figures in U.S. $k Three months ended Twelve months ended Dec 31, Dec 31, 2025 2024 2025 2024 Net (loss) income 26,106 47,016 159,566 161,309 Less: Income (loss) attributable to non-controll
Slide 23: Non-GAAP Reconciliation
Non-GAAP Reconciliation1 Net Debt, Leverage and Total Investment Reconciliations Figures in U.S. $k As of Dec 31, 2024 2025 Short Term Debt and Current Portion of Long Term Debt 1,087 427 Long Term Debt 110,002 171,202 Gross Debt 109,307 171,629 Cash at the end of the period 134,882 100,901 Net Debt