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Zumtobel : Q1-Q3 2025/26 Investor Presentation
Zumtobel : Q1-Q3 2025/26 Investor
About this update from Zumtobel Group Ag
Q1-Q3 2025/26 MANAGEMENT PRESENTATION 1 5 March 2026 European Patent Office Munich, Germany Levis Store, Paris, France Amazon, Rochester, UK Festhalle Bern, Switzerland ARENA SANTA GIULIA MILANO PREDAZZO SKI JUMPING STADIUM 4 SÜDTIROL ARENA ANTERSELVA CORTINA SLIDING CENTRE ZUMTOBEL GROUP Q1-Q3 2025/26 FINANCIAL OVERVIEW IN EUR MILLION Q1-Q3 2025/26 Q1-Q3 2024/25 CHANGE IN % Group revenues 775.0 828.1 -6.4 Lighting Segment revenues 618.6 652.0 -5.1 Components Segment revenues 200.0 226.6 -11.7 Adjusted gross profit 1 288.7 304.9 -5.3 Adjusted EBIT 32.2 41.0 -21.5 Net profit for the period 9.0 13.0 -31.3 1 incl. development Q1-Q3 2025/26 results 5 SECURING COMPETITIVENESS THR EFFICIENCY PROGRAMME EXPECTED EUR 50 MILLION IN 202 3 key levers Lean organization Streamlined processes Shared service center Cost savings are ramping up year-on-year EUR 40 - 50 million from 2028/2029 onwards Combined expected annual restructuring costs 6 2025/26 2026/27 2027/28 2028/29 Q1-Q3 2025/26 results Total annual restructuring costs in EUR million SG&A cost savings in EUR million Operations, procurement, and R&D cost savings in EUR million 6 LIGHTING SEGMENT WHILE REVENUES DECLINED, ADJ. EBIT WAS POSITIVELY IMPACTED BY LOWER MATERIAL COSTS AND LOWER PERSONNEL EXPENSES REVENUES IN EUR MILLION ADJUSTED EBIT IN EUR MILLION fx-adj. -7.0% -7.3% fx-adj. -5.0% -4.4% fx-adj. -3.0% -1.9% 7.8% 3.8% 5.4% 5.4% 8.9% 10.2% 226.6 210.7 229.5 218.0 195.9 190.0 212.0 20.1 22.3 1.0% 17.8 11.4 11.4 7.2 1.9 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2024/25 2025/26 2024/25 as a % of revenues 2024/25 2025/26 as a % of revenues 2025/26 COMPONENTS SEGMENT LOWER MATERIAL COSTS AND PERSONNEL EXPENSES WERE UNABLE TO OFFSET THE DECLINE IN REVENUES REVENUES IN EUR MILLION ADJUSTED EBIT IN EUR MILLION fx-adj. -10.4% fx-adj. -11.0% fx-adj. -8.0% 5.9% -11.8% -12.8% -10.4% 1.9% 8.4% 8.4% 3.0% 0.3% 6.5 4.7 5.6 1.3 2.1 0.2 -3.2% 80.3 70.9 77.0 67.2 69.2 62.0 72.8 Q1 Q2 Q3 Q4 Q1 Q2 -2.0 Q3 Q4 2024/25 2025/26 2024/25 as a % of revenues 2024/25 2025/26 as a % of revenues 2025/26 Q1-Q3 2025/26: EUR 200.0 million (-11.7%) Q1-Q3 2024/25: EUR 226.6 million Q1-Q3 2025/26: EUR 5.0 million (margin of 2.5%) Q1-Q3 2024/25: EUR 13.3 million (margin of 5.9%) ZUMTOBEL GROUP WHILE REVENUES DECLINED, ADJ. EBIT WAS POSITIVELY IMPACTED BY LOWER MATERIAL COSTS AND LOWER PERSONNEL EXPENSES REVENUES IN EUR MILLION ADJUSTED EBIT IN EUR MILLION fx-adj. -7.7% fx-adj. -5.1% fx-adj. -3.6% 9.2% -7.8% -6.0% -5.2% 289.1 266.4 288.6 271.2 250.5 237.4 269.1 7.0% 7.3% 0.3% 2.2% 2.5% 25.0 -0.1% 20.2 21.0 6.6 6.0 0.6 Q1 Q2 Q3 Q4 Q1 Q2 -0.2 Q3 Q4 2024/25 2025/26 2024/25 as a % of revenues 2024/25 2025/26 as a % of revenues 2025/26 Q1-Q3 2025/26: EUR 775.0 million (-6.4%) Q1-Q3 2024/25: EUR 828.1 million Q1-Q3 2025/26: EUR 32.2 million (margin of 4.2%) Q1-Q3 2024/25: EUR 41.0 million (margin of 4.9%) ZUMTOBEL GROUP WEAK DEMAND LED TO LOWER RESULT ADJUSTED EBIT BRIDGE IN EUR MILLION / AS % OF SALES 4.9% -0.7pp 4.2% 41.0 Mainly due to negative volume development and price pressure Mainly due to lower material costs, lower personnel expenses and a positive product/country mix effect 7.3 32.2 -38.5 22.3 Mainly due to lower personnel expenses Adjusted EBIT Q1-Q3 2024/25 Turnover, price and FX effects on sales COGS SG&A and Research Adjusted EBIT Q1-Q3 2025/26 ADJ. GROSS PROFIT MARGIN AT 37.3% IN EUR MILLION Q1-Q3 2025/26 Q1-Q3 2024/25 CHANGE IN % Revenues 775.0 828.1 -6.4 Adjusted cost of goods sold -486.3 -523.2 -7.1 Adjusted gross profit (incl. development) 288.7 304.9 -5.3 as a % of revenues 37.3 36.8 Adjusted SG&A expenses -256.6 -263.9 -2.8 Adjusted EBIT 32.2 41.0 -21.5 as a % of revenues 4.2 4.9 Special effects -12.7 -13.1 EBIT 19.5 27.8 -30.0 as a % of revenues 2.5 3.4 Financial results -9.5 -13.3 28.6 Profit before tax 10.0 14.5 -31.3 Income taxes -1.0 -1.4 -31.3 Net profit for the period 9.0 13.0 -31.3 Earnings per share (in EUR) 0.22 0.31 -29.8 ZUMTOBEL GROUP - INCOME STATEMENT Special effects Closure of the US production site in Highland (EUR -5.3 million) Efficiency program (EUR -1.7 million) Write-down of goodwill in the CGU Components (EUR -2.0 million) Impairment of capitalised development projects (EUR -2.7 million) Investment grant received from the Portuguese government (EUR 1.4 million) Other (EUR -2.4 million) CASH FLOW STATEMENT ZUMTOBEL GROUP - CASH FLOW STATEMENT IN EUR MILLION Q1-Q3 2025/26 Q1-Q3 2024/25 Cash flow from operating results 64.6 69.2 Change in working capital 15.1 1.2 Change in other operating items -36.4 -16.2 Taxes paid/received -6.5 -5.3 Cash flow from operating activities 36.8 48.8 Cash flow from investing activities -31.4 -33.1 Free cash flow 5.4 15.6 Cash flow from financing activities 10.0 -36.3 SOLID BALANCE SHEET ZUMTOBEL GROUP - KEY BALANCE SHEET DATA IN EUR MILLION 31 January 2026 30 April 2025 Total assets 982.9 989.6 Net debt 131.1 118.5 Debt coverage ratio 1.59 1.36 Equity 426.2 424.9 Equity ratio in % 43.4 42.9 Gearing in % 30.8 27.9 CAPEX 36.0 89.7 thereof CAPEX excl. IFRS 16 32.0 54.2 Working capital 212.6 227.8 as a % of rolling 12-month revenues 20.4 20.8 Solid liquidity position backed by: Consortium credit agreement with a term ending in December 2028 and a volume of EUR 125 million (including clause for an increase in the credit line up to EUR 350 million), thereof EUR 60 million drawn Credit agreement of EUR 50 million with the European Investment Bank (EIB), thereof EUR 50 million drawn Uncommitted credit lines totalling EUR 40.0 million Financial covenants attached to: Debt coverage ratio 1 < 3.55 ☑ 1.59 as of 31 January 2026 Equity ratio > 23.5% ☑ 43.4% as of 31 January 2026 Covenants tested on 31 October as well as 30 April CURRENT MARKET OUTLOOK Growth in non-residential construction in 2026 Development in 2026 A year of recovery for non-residential Development of non-residential construction until 2027 (for selected countries) 2.7 3 1.7 1.5 1.5 2.0 1.3 construction in most of Europe, with growth led by public investment and renovation New buildings for health and education will see the strongest growth Green energy transition is still supporting the development of the sector Growth expectations show strong 1. 1.1 1.4 -0.2 2.8 -0 .2 -3.6 1.1 -0 -1.5 .1 1.9 1.2 regional differences 2022 2023 2024 2025 2026 2027 > +0.5% 0 - +0.5% negative The growth in civil engineering is supported by robust investment in transport infrastructure, and energy transition projects. EU and national public funds, as well as targeted programs for decarbonization and climate adaptation, are key enablers. New-built Renovation Total 14 Q1-Q3 2025/26 results Source: Euroconstruct November 2025 14 FULL YEAR 2025/26 OUTLOOK REVENUES IN SINGLE DIGIT PERCENTAGE RANGE BELOW PREVIOUS YEAR'S LEVEL ADJUSTED EBIT MARGIN OF 2.5 - 4 % (previously: 1 - 4%) CAPEX EXCL. IFRS 16 ~EUR 50 MILLION 15 Q1-Q3 2025/26 results 15 Investor event at Light & Building 2026 Meet CEO Alfred Felder and CFO Thomas Erath on 12 March 2026 at the Zumtobel Group booth 16 Q1-Q3 2025/26 results 16 BACK UP Q1- 17 GROUP REVENUES DOWN BY -5.2% IN Q3 2025/26 ZUMTOBEL GROUP - REGIONAL REVENUE DISTRIBUTION IN EUR MILLION Q3 2025/26 Q3 2024/25 CHANGE IN % Q1-Q3 2025/26 Q1-Q3 2024/25 CHANGE IN % NOMINAL FX ADJUSTED D/A/CH 86.5 93.8 -7.8 300.2 310.9 -3.5 -4.2 Northern and Western Europe 52.8 55.7 -5.1 177.0 202.1 -12.4 -11.1 Southern and Eastern Europe 62.2 64.8 -4.0 201.0 206.9 -2.8 -2.4 Asia & Pacific 19.7 21.6 -8.8 54.3 66.8 -18.7 -12.9 Americas & MEA 16.2 14.5 11.7 42.5 41.4 2.7 8.0 Total 237.4 250.5 -5.2 775.0 828.1 -6.4 -5.6 FINANCIAL CALENDAR DATE SUBJECT PERIOD 16 July 2026 Annual Results 2025/26 1 May 2025 - 30 April 2026 3 September 2026 Quarterly Report Q1 2026/27 1 May 2026 - 31 July 2026 15 September 2026 Record Date for the Annual General Meeting 25 September 2026 50th Annual General Meeting 29 September 2026 Ex-Dividend Day 30 September 2026 Record Date Dividend 2 October 2026 Dividend Payout Day 3 December 2026 Half-Year Financial Report 2026/27 1 May 2026 - 31 October 2026 4 March 2027 Quarterly Report Q1-Q3 2026/27 1 May 2026 - 31 January 2027 WORKING CAPITAL DEVELOPMENT ZUMTOBEL GROUP - WORKING CAPITAL 21.0 21.5 21.0 19.7 20.7 20.6 19.8 20.4 20.4 20.0 20.8 Working capital at EUR 212.6 million as of 31 January 2026 (30 April 2025: EUR 227.8 million) In % of rolling 12-month revenues, working capital at 20.4% (Q3 2024/25: 20.4%) Q1 Q2 Q3 Q4 FY 2023/24 FY 2024/25 FY 2025/26 In % SUPPLEMENTARY DATA FOR SEGMENT REPORTING ZUMTOBEL GROUP Lighting Segment Components Segment Reconciliation Group IN EUR MILLION Q1-Q3 2025/26 Q1-Q3 2024/25 Q1-Q3 2025/26 Q1-Q3 2024/25 Q1-Q3 2025/26 Q1-Q3 2024/25 Q1-Q3 2025/26 Q1-Q3 2024/25 Net revenues 618.6 652.0 200.0 226.6 -43.7 -50.5 775.0 828.1 External revenues 617.6 650.9 157.4 177.2 0.0 0.0 775.0 828.1 Inter-company revenues 1.0 1.1 42.6 49.4 -43.7 -50.5 0.0 0.0 Adjusted EBIT 41.0 39.9 5.0 13.3 -13.8 -12.2 32.2 41.0 Special effects -8.3 -13.3 -3.3 0.1 -1.1 0.0 -12.7 -13.1 EBIT 32.7 26.6 1.7 13.4 -14.9 -12.2 19.5 27.8 Investments 23.6 24.9 6.8 8.5 1.6 1.8 32.0 35.2 Adjusted depreciation -27.9 -27.5 -9.7 -9.7 -2.5 -2.9 -40.1 -40.1 FIVE-YEAR OVERVIEW ZUMTOBEL GROUP IN EUR MILLION 2024/25 2023/24 2022/23 2021/22 2020/21 Revenues 1,097.2 1,127.0 1,209.2 1,148.3 1,044.5 Adjusted EBIT 46.9 57.3 84.3 60.8 45.5 as a % of revenues 4.3 5.1 7.0 5.3 4.4 EBIT 33.0 49.5 84.3 60.8 43.4 as a % of revenues 3.0 4.4 7.0 5.3 4.2 Net profit/loss for the year 15.5 24.7 60.0 45.8 45.6 as a % of revenues 1.4 2.2 5.0 4.0 4.4 Total assets 989.6 987.2 1,002.4 1,005.4 943.3 Equity 424.9 425.2 421.7 382.8 308.4 Equity ratio in % 42.9 43.1 42.1 38.1 32.7 Net debt 118.5 77.1 86.9 95.1 88.5 Cash flow from operating results 86.4 105.8 140.2 122.7 115.7 CAPEX excl. IFRS 16 54.2 50.8 54.5 45.3 38.1 as a % of revenues 4.9 4.5 4.5 3.9 3.7 R&D total 74.1 72.7 67.8 67.5 64.8 as a % of revenues 6.8 6.5 5.6 5.9 6.2 Headcount incl. contract workers (FTE) 5,299 5,350 5,503 5,782 5,813 ZUMTOBEL GROUP AG Investor Relations [email protected] https://www.zumtobelgroup.com Attention : This is an excerpt of the original content. To continue reading it, access the original document here .