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PUBLIC Olivier Legrain CEO Henri de Romrée Deputy CEO & Interim CFO Thomas Pevenage Investor Relations IBA Full Year Results 2024 March 20, 2025
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PUBLIC Disclaimer • This presentation may contain forward-looking statements. • All statements other than statements of historical facts, including statements regarding IBA’s objectives, plans, goals, strategies, future growth and growth drivers, industry outlook, future orders, revenues, backlog, earnings growth, cash flows, performance, market acceptance of or transition to new products or technology, may constitute forward-looking statements. Expressions such as “could”, “believes”, “outlooks”, “estimates”, “anticipates”, “expects”, “intends”, “may”, “plans”, “predicts”, “projects”, “will”, “would” and other similar expressions, or the negative of these terms, are forward-looking statements. • By their very nature, forward-looking statements require IBA to make assumptions and are subject to inherent risks and uncertainties that could cause the actual future facts to differ materially from those anticipated and which give rise to thepossibility that IBA’s assumptions may not be correct and that IBA’s predictions, objectives, expectations or conclusions will not prove to be accurate or will not be achieved. • These statements are based on IBA’s reasonable assumptions and beliefs in light of the information available to IBA at the time such statements are made and may not take into accountthe effect of any information occurring after such statements have been made. IBA does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of IBA. 2 • Following a review into revenue recognition treatment of third-party equipment under IFRS15, revenue is now recognized at the full sales price of third-party equipment. As a result, there is an increase in reported revenue and cost of goods sold, and a decrease in gross margin (with overall gross profit remaining the same). FY24 numbers reflect this new method of reporting and FY23 numbers have been restated. Additional information can be found in the Appendix.
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PUBLIC Agenda 01 Highlights 02 Business review 03 Financial review 04 Company transformation & New segment reporting 05 Guidance & Capital Markets Day 3
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PUBLIC 1. Highlights 4
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PUBLIC 2024 financial highlights: return to profitability Revenues1 € 498.2 million +7% REBIT1 €17.3 million +170% Net cash € 33 million vs. €68m Gross margin1 33.3% + 4.5 p.p. Net result1 + € 9.3 Million vs. net loss of - €9m Proposed dividend € 0.24 per share vs. €0.17 vs. 2023 comparable figures 51 2023 and 2024 figures restated based on IFRS15 Principal Treatment
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PUBLIC 2024 business highlights: solid order intake Backlog1 €1.5 billion - 1.3% Proton Therapy systems sold 5 systems vs. 5 2 Order intake1 € 321 million + 11% Other Accelerators systems sold 33 systems vs. 18 6 1 2023 and 2024 figures restated based on IFRS15 Principal Treatment 2 Including U-Penn system restoration Continued investment in future value creation, with PanTera securing an over- subscribed Series A round at € 280 million post-money valuation Re-certified as B Corporation with 114 points and in the top 10% worldwide Updated organization structure in 3 focused entities: IBA Clinical, IBA Technologies and IBA Corporate Updated short- and mid-term guidance and 2025 outlook supported by improved performance predictability vs. 2023 comparable figures
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PUBLIC H1 41% H2 59% Total sales 42% 58% GM REBIT Net result 498 166 17 9 292 96 17 19 Total sales GM REBIT Net result 206 70 -10 Total sales GM REBIT Net result 0 Strong H2 and positive full year Group REBIT1 REBIT margin 0% REBIT margin 5.8% 7 H1 2024 H2 2024 €M FY 2024 €M €M REBIT margin 3.5% 1 2023 and 2024 figures restated based on IFRS15 Principal Treatment
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PUBLIC 6.1 23.7 11.0 -23.4 34.7 2023 1.9 Proton Therapy -2.0 Dosimetry Other Accelerators 4.1 -21.5 2024 6.4 17.3 +170% 240 242 66 66 165 194 2023 3 Proton Therapy 0 Dosimetry 30 Other Accelerators 2024 467 498 +7% Revenue and REBIT progression by business1 8 REBIT +1% +18%+0% +9% +63%-34% €M €M Proton Therapy Dosimetry Other Accelerators REVENUE 2 1 2023 and 2024 figures restated based on IFRS15 Principal Treatment 2 Including Intercompany Record-high revenue and return to profitability, with REBIT more than doubling (+170% YoY)
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PUBLIC 666 727 673 672 2020 2021 2022 2023 2024 €M Total backlog at €1.5 billion 273 338 481 515 497 109 111 231 248 247 23 2020 27 2021 38 2022 41 2023 42 2024 405 476 750 804 785 EQUIPMENT SERVICE €M Proton Therapy Dosimetry Other Accelerators 9 1111 TOTAL BACKLOG 1,476 1,457 2023 2024 -1% 1 1 Strong and stable backlog providing visibility for the future Not including the 10 Spanish PT projects and 5 contract renewals taking place in 2025 57 672 57555953 # PT site maintenance contracts signed 1 2023 and 2024 figures restated based on IFRS15 Principal Treatment
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PUBLIC Total equipment order intake of € 321 million 62 141 281 117 106 54 50 67 67 6650 87 175 104 149 2020 2021 2022 2023 2024 166 278 523 288 321 +11% Proton Therapy Dosimetry Other Accelerators 0.8xBook- to-bill 1.4x 2.3x 0.9x -10% +43% -2% 0.9x 10 1 1 1 2023 and 2024 figures restated based on IFRS15 Principal Treatment 2 Ratio between equipment order intake and revenues 2 Sustained growth of +11%, with a strong year from Other Accelerators (+43%)
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PUBLIC B Corp recertification achieved with 114 points Low carbon, low waste products Eco-design processes implemented to reduce environmental impact. Research on environmental applications of electron-beam launched, focusing on the treatment of carbon filters that capture PFAS (forever chemicals) in water. Low carbon, low waste company Increased energy auto production through expanded solar initiatives. Enhanced green mobility policy to reduce the carbon footprint of IBA’s operations. Significant progress in reverse logistics to minimize carbon emissions. Diverse, equitable, inclusive workplace Profit-sharing and employee ownership programs implemented to engage employees. Fostering engagement and collective intelligence through internal initiatives. Inclusive hiring practices reinforced to enhance diversity within the workforce. Accountable to sustainability Supply chain ESG screening strengthened through Ecovadis. Oncia Community launched to expand holistic cancer support centers. Extending sustainability evaluations across a broader spectrum of the supply chain. Sustainability program – 4 key streams 11
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PUBLIC 2. Business review 12
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PUBLIC Proton Therapy 13
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PUBLIC Proton Therapy performance (EUR Million) FY 20241 FY 20231 Change % Equipment 118.6 124.0 -4% Services 123.4 115.6 7% Net sales 242.1 239.6 1% REBIT 2 -21.5 -23.4 9% REBIT margin -8.9% -9.8% Equip. order Intake 106 117 -10% Book-to-bill ratio 0.9x 0.9x • Stable net sales at €242.1 million (+1% YoY) - Equipment sales supported by 37 projects in equipment backlog, with 5 new installations commencing in 2024 - Services sales increased 7% compared to 2023, driven by improved sites performance and 3 renewed customer service contracts • REBIT improved by €2 million to -€21.5 million driven by Gross Margin increase • Equipment order intake decreased by 10% but gained momentum in Q4 14 1 2023 and 2024 Figures restated based on IFRS15 Principal Treatment 2 Based on a pro forma allocation of overheads and OPEX to each business Continued steady growth in Services driving topline
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PUBLIC Progress update on strategic initiatives • 37 projects under construction or installation • Order intake of €106 million • 4 Proteus®ONE3 contracts signed in US and India • 1 Proteus®PLUS4 procurement contract signed in China with CGN • -4% Equipment / +7% Services revenues • Developments in evidence generation clinical studies: Positive head and neck trial read-out led by MD Anderson Cancer Center • Launch of AdaptInsight 2.3: improvements in IBA’s PT quality imaging suite • Improve PT economics by delivering backlog and enhancing customer service offer • Drive Proton Therapy adoption and customer success • Strengthen PT competitive product portfolio (e.g., DynamicARC ®1, ConformalFLASH®2) • Leverage strategic partnerships to reinforce value proposal (e.g. CGN, MD Anderson) OBJECTIVES DELIVERY 15 1DynamicARC® is a registered brand of the IBA’s Proton Arc therapy solution currently under development phase. 2ConformalFLASH® is a registered brand of IBA’s Proton FLASH irradiation solution currently under research and development phase 3Proteus®ONE is a brand name of Proteus®235 4Proteus®PLUS is a brand name of Proteus®235
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PUBLIC Expanding Proton Therapy global reach 16 2024 Order intake €106 million Equipment backlog €497 million Asia 6 Proteus®PLUS 3 Proteus®ONE EMEA 20 Proteus ®ONEAmericas 2 Proteus ®PLUS 6 Proteus®ONE China 1 partial Proteus®PLUS India 1 Proteus®ONE USA 3 Proteus ®ONE 44 installed base
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PUBLIC IBA - market leadership Total market share in PT rooms 12024 sales of new PT systems PT rooms in operation 1 56% market share in 2024 41% overall market share IBA 56% Mevion 44% IBA 44% Varian 22% Hitachi 21% Others 13% IBA 41% Varian 23% Hitachi 20% Mevion 8% Others 9% 17 1 Research centers and Rutherford Cancer Centers excluded 2 Competitors’ numbers restated to include past non-published or non-confirmed orders 2 2 2 2
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PUBLIC Dosimetry 18
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PUBLIC Dosimetry performance (EUR Million) FY 20241 FY 20231 Change % Net sales 65.9 65.9 0% REBIT 2 4.1 6.1 -34% REBIT margin 6.2% 9.1% Equip. order Intake 66 67 -2% Book-to-bill ratio 1.0x 1.0x • Stable net sales of €65.9 million, at 2023 levels despite the significant impact of China’s economic situation - Robust order intake at €66 million - Backlog maintained at €41.7 million (2023: €41.3 million) • REBIT fell by €2.1 million to €4.1 million: RadCal synergies not yet deployed, lower share of high-margin sales in China, PT projects timing 19 1 2023 and 2024 Figures restated based on IFRS15 Principal Treatment 2 Based on a pro forma allocation of overheads and OPEX to each business Solid revenues, with profitability impacted by acquisition integration and regional dynamics
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PUBLIC Progress update on strategic initiatives • Strong level of activity with net Sales of €66 million, at 2023 levels, despite China’s market situation • Robust order intake at €66 million • Acquisition closing of California-based RadCal Corporation in Medical Imaging Quality Assurance leading to enhanced product portfolio, service offering and distribution network • Increase revenue and profitability across all product lines • Reinforce Dosimetry leadership in Quality Assurance (QA) • Continue to invest in sustainability OBJECTIVES DELIVERY 20
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PUBLIC Geographical expansion Portfolio expansion Radio Therapy QA Medical Imaging & Diagnostic QA Innovation myQA® iON myQA® SRS for CyberKnife® DOSE-X myQA® PROactive CT-IQ phantom T3 X-ray QA Meter Primus FG-18 Acquisitions Strategic alliances Portfolio and geographical expansion 21
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PUBLIC Other Accelerators 22
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PUBLIC Other Accelerators performance (EUR Million) FY 20241 FY 20231 Change % Equipment 159.5 130.1 23% Services 34.8 34.7 0% Net sales 194.2 164.7 18% REBIT 2 34.7 23.7 63% REBIT margin 17.8% 14.7% Equip. order Intake 149 104 +43% Book-to-bill ratio 0.9x 0.8x • Strong net sales at €194.2 million, up 18% compared to previous year. - Excellent equipment backlog conversion (+23% YoY) - Services sales maintained at €34.8 million despite the Dynamitron product line discontinuation. Underlying growth was 25%, driven by an expanding installed base and higher-value service contracts • As a result, REBIT increased substantially (+63% YoY) to €34.7 million 23 1 2023 and 2024 Figures restated based on IFRS15 Principal Treatment 2 Based on a pro forma allocation of overheads and OPEX to each business Strong contribution driven by well-executed backlog conversion
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PUBLIC Progress update on strategic initiatives • Strong revenue increase driven by well-executed backlog conversion • First sales in new applications: material enhancement and phytosanitary • Launch of PFAS-Blaster project targeting forever chemicals • Expand strategic positioning in targeted alpha therapies (Astatine- 211) • Revamp strategy and market positioning in Chemistry • Reinforce market position (incl. with large networks) in the USA OBJECTIVES DELIVERY • Deliver backlog • Reinforce market position in China • Enter new Industrial applications such as material enhancement, phytosanitary or forever chemical treatment (PFAS) • Accelerate.EU project approved (development of Astatine-211 value chain from production to clinical application) • Post period end, signature of MoU with Framatome for Astatine-211 cyclotron network development • Strategic deal agreed with Jubilant Radiopharma (USA) for 5 Cyclone®KIUBE cyclotrons RadioPharma Industrial 24
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PUBLIC New ventures 25
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PUBLIC • Secured €93 million in an oversubscribed Series A to accelerate large-scale production of Actinium-225, valuing the company at €280 million with IBA maintaining a 31% share1 • Small batch production of Actinium-225 by mid 2025 for clinical research • Construction of large-scale facility starting in 2025 and expected completion by 2029 • Signature of capacity reservation agreements with large pharmaceuticals companies Update on new ventures • Joint strategic investment with Wallonie Entreprendre International in mi2-factory, a German start-up active in the field of power semiconductor chips • IBA will support mi2-factory in advancing its lab-proven process towards an industrial- grade solution with its compact particle accelerator technologies 261 After full execution of the series A capital increases • Public-private partnership with Normandy Region (39% IBA owned) dedicated to developing a carbon-ion radiation therapy system • First machine manufacturing and on-site (Caen) installation in progress. First beam expected by late 2026/early 2027 211At • MoU signed with Framatome for development of an Astatine-211 production network across Europe and USA, with first pilot plant in France (2027-2028)
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PUBLIC 3. Financial review 27
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PUBLIC 48 58 54 61 26 30 2023 4 S&M 5 G&A 2 Bad debt impact 10 R&D 2024 128 149 Consolidated P&L • Gross profit margin improved driven by higher share of Other Accelerators and margin improvement in Proton Therapy €M FY 20241 FY 20231 Change % Sales and services 498.2 466.7 7% Cost of sales and services (-) 332.2 332.2 0% Gross profit/(loss) 166.0 134.4 23% 33.3% 28.8% Selling and marketing expenses (-) 30.2 26.3 15% General and administrative expenses (-) 60.5 53.8 12% Research and development expenses (-) 58.0 47.9 21% Recurring expenses (-) 148.7 128.0 16% Recurring profit/(loss) 17.3 6.4 170% 3.5% 1.4% Other operating result (-) -2.3 1.3 -275% Financial result (-) 2.7 5.2 -49% Share of profit/(loss) of equity- accounted companies (-) 2.1 0.2 1120% Profit/(loss) before tax 14.9 -0.3 -4830% Tax result (-) 5.6 8.8 -36% Profit/(loss) for the period 9.3 -9.1 -202% REBITDA 32.0 19.3 -66% 28 R&D G&A S&M Investment to support future growth of the business (incl. Digital, org transfo) R&D projects acceleration e.g. Imaging, DynamicARC®, Cyclone® IKON OPEX evolution breakdown (€ million) 1 2023 and 2024 figures restated based on IFRS15 Principal Treatment
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PUBLIC Below REBIT In €M 2024 PanTera revaluation gain 11.6 Hyperinflation in Argentina -3.9 Others1 -2.0 Profit before tax 14.9 ERP upgrade implementation -4.2 • PanTera: • Revaluation gain: revaluation of IBA’s stake driving + € 11.6 million in post closing period • Equity method: share of PanTera’s net result contributed negatively with - € 2.1 million (from 50% shareholding in 2023 to 40% at year-end) • One-off projects: investments in ERP upgrade, organization transformation and strategy • Hyperinflation in Argentina remained high during the installation phase of PT Project in Buenos Aires • Tax: impacted by withholding tax on cash repatriation (dividend) while deferred tax assets on tax losses carried forward remained unchanged from 2023 REBIT 17.3 Tax -5.6 Net Profit 9.3 29 1 Includes Stock Option Plan costs, other financials costs and incomes (i.e. interests, FX gains/losses, etc.) PanTera equity method -2.1 IBA organization transformation & strategy -1.8 PanTera and transformation projects reflected on net profit
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PUBLIC 109,3 17,8 25,5 7,4 6,4 7,3 Gross Cash at beginning of period Net cash flow changes before working capital Change in working capital 2.0 Income tax paid/received, net 0.9 Interest (inc)/exp Capital expenditures M&A and other activities Dividend paid Other financing cash flows 0.6 FX (gains)/losses 72.2 Gross Cash at end of period 4.9 30 Mostly: +€ 22M increase in inventory +€ 25M increase in contract assets (incl. Spanish MoH PT contracts) - € 26M decrease in trade receivables RadCal acquisition and PanTera investment Cash & equivalents Evolution driven by working capital cycle as backlog is delivered Debt repayment (subordinated loans and leasings) Operating CF Investing CF Financing CF
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PUBLIC31 72,2 33,5 10,0 28,7 Cash position Borrowings Leases Net financial position • Net financial position improved vs. H1 2024 (€21.7 million), driven by well-executed cash control and collections in H2 • €10.0 million borrowings composed of amortizing subordinated loans provided by Wallonie Entreprendre and SFPIM, maturing in December 2026 • Access to €60 million undrawn credit lines (IBA SA) at year-end Net financial position Remains positive, with untapped access to liquidity
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PUBLIC 4. Company transformation & New segment reporting 32
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PUBLIC Dosimetry Proton Therapy Industrial RPS Other Accelerators 3 new segments: Clinical, Technologies, Corporate Dosimetry Proton Therapy Industrial RPS IBA Technologies IBA Group (as of 2025) IBA Clinical IBA Corporate Engineering & Supply Chain IBA Group (until 2024) Segments reported in annual results 33 Including New ventures
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PUBLIC Leading to 3 main changes impacting financials 1 | 2 | 3 | CHANGES OBJECTIVE IBA CORPORATE Isolate OPEX costs1 (and revenues) linked to the IBA holding, i.e. not linked to business unit support 2024 KEY IMPACT • Creation of IBA Corporate with €5 million of OPEX, previously allocated across business units • All Corporate-led initiatives allocated to Corporate P&L, e.g., Pantera, mi2 SHARED OVERHEAD ALLOCATION Improve current shared COGS2 (overhead) allocation fairness by: (a) further allocating costs directly to business units (b) better reflecting actual consumption • €7 million shared COGS shift from IBA Clinical to IBA Technologies linked to dynamic allocation keys (productive hours and direct COGS) PT REVENUE TRANSFER Reflect the transfer of value provided by IBA Technologies (Engineering & Supply Chain) to IBA Clinical linked to e.g., cyclotrons manufacturing • €29 million revenue transferred from IBA Clinical to Technologies 34 1 Shared G&A and part of R&D currently allocated to Proton Therapy and Other Accelerators 2COGS related to operations, but not directly linked to a specific commercial project
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PUBLIC 2024 restated: 3 segments with different financial profiles IBA Clinical (EUR Million) IBA Group PT Dosimetry Total IBA Technologies IBA Corporate Net sales 498.2 212.8 65.9 274.6 223.5 0 Gross Margin 168.1 59.7 30.8 90.6 77.5 0 OPEX 150.8 71.8 26.7 98.5 46.9 5.3 REBIT 17.3 -12.1 4.1 -7.9 30.6 -5.3 REBIT margin 3.5% -5.7% 6.2% -2.9% 13.7% Profit Before Tax 14.9 -20.0 3.9 -15.9 26.4 4.4 Pretax profit margin 3.0% -9.4% 6.0% -5.8% 11.8% Net result 9.3 Net margin 1.9% 35
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PUBLIC 5. Guidance & Capital Markets Day 36
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PUBLIC Guidance One-year guidance (2025) REBIT At least €25 million (with positive PT REBIT) Around 10% of Revenues by 2028 37 Future additional growth through capital-light investments into new ventures e.g. PanTera, mi2-factory Revenue REBIT Mid-term outlook 2024-28 Post high growth period, frontloaded growth of 5-7% CAGR OPEX Up to 30% of Sales per annum With a high backlog and services contributing to growing and recurring income, IBA is now providing a one-year guidance for 2025 and an updated mid-term outlook through 2028. Longer-term
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PUBLIC Drivers supporting our mid-term outlook 38 2024 REBIT margin 3.5% PT EQ gross margin improvement • economics normalization based on market dynamics PT services gross margin improvement • cost efficiency initiativesOperating leverage from topline growth • PT installed base • underlying markets OPEX control • continued investments in S&M and R&D • total Opex max. 30% of Sales by 2028 REBIT margin around 10%
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PUBLIC Upcoming Capital Markets Day on April 7th • Capital Markets Day: 7 Apr 2025 • Business Update Q1 2025: 22 May 2025 • General Meeting: 11 Jun 2025 • Half Year Results: 28 Aug 2025 • Business Update Q3 2025: 20 Nov 2025 Financial calendar Capital Markets Day A clear roadmap to profitable growth with a disciplined execution plan Insight into our business segments, growth opportunities, and margin drivers Open dialogue with our leadership team on strategic priorities and investor concerns What to expect 39
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PUBLIC Q&A 40
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PUBLIC PUBLIC Thank you!
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PUBLIC Appendix 42
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PUBLIC IFRS 15 changes: Principal vs Agent treatment Under IFRS 15, the distinction between an agent and a principal is crucial for revenue recognition • Agent does not control third-party equipment before delivery to the customer • Agent only facilitates the transaction, arranging for the supplier to provide the equipment • Revenue is recognized on a net basis (only the commission earned at Gross Margin level) Example: BEFORE: AGENT TREATMENT NOW: PRINCIPAL TREATMENT P&L impact (for a 10,000 € EQ sale, 10% commission) Revenue 1,000 € COGS - € Gross Margin + 1,000 € • Principal takes control of the third-party equipment before transferring it to the customer • Principal responsible for fulfilling the contract, ensuring the equipment meets customer requirements. • Revenue is recognized on a gross basis (full sales amount at revenue and COGS level) Example: P&L impact (for a 10,000 € EQ sale, 9,000 € cost) Revenue 10,000 € COGS 9,000 € Gross Margin + 1,000 € Delta + 9,000 € + 9,000 € 0 € 43
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PUBLIC Consolidated P&L • Gross profit margin improved driven higher share of Other Accelerators and margin improvement in Proton Therapy • OPEX rose by 16%, driven by investments in the future growth and bad debts in Other Accelerators and Proton Therapy • Non-recurring income of €2.3 million resulted from the revaluation of PanTera, partially offset by investments in ERP upgrade, strategic consultancy and IBA transformation • Financial expenses of €2.7 million driven by hyper-inflation in Argentina, interest expenses on debt and FX impacts, partially offset by interest income on customer loans and bank deposits • The contribution of PanTera in the consolidated result (equity method) is -€2.1 million as company continues its R&D and development efforts €M FY 20241 FY 20231 Change % Sales and services 498.2 466.7 7% Cost of sales and services (-) 332.2 332.2 0% Gross profit/(loss) 166.0 134.4 23% 33.3% 28.8% Selling and marketing expenses (-) 30.2 26.3 15% General and administrative expenses (-) 60.5 53.8 12% Research and development expenses (-) 58.0 47.9 21% Recurring expenses (-) 148.7 128.0 16% Recurring profit/(loss) 17.3 6.4 170% 3.5% 1.4% Other operating result (-) -2.3 1.3 -275% Financial result (-) 2.7 5.2 -49% Share of profit/(loss) of equity-accounted companies (-) 2.1 0.2 1120% Profit/(loss) before tax 14.9 -0.3 -4830% Tax result (-) 5.6 8.8 -36% Profit/(loss) for the period 9.3 -9.1 -202% REBITDA 32.0 19.3 -66% 441 2023 and 2024 figures restated based on IFRS15 Principal Treatment
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PUBLIC Consolidated cash flow • Operating cash flows of -€10.6 million still negatively impacted by changes in working capital driven by the Ortega contract, yet improving from 2024 as overall profitability improves • Investing cash flows of -€13.8 million with group investments in Radcal Corporation and participation in PanTera financing rounds • Financing cash flows of -€12.2 million with the 2023 dividend payment of €4.9 million and debt reimbursements €M FY 2024 FY 2023 Cash flow from operating activities Net cash flow changes before changes in working capital 17.8 2.2 Change in working capital -25.5 -18.5 Income tax paid/received, net -2.0 -2.5 Interest (income)/expenses -0.9 -0.9 Net cash (used in)/generated from operations -10.6 -19.8 Cash flow from investing activities Capital expenditures -7.4 -12.3 M&A and other activities -6.4 -1.0 Net cash (used in)/generated from investing activities -13.8 -13.3 Cash flow from financing activities Dividend paid -4.9 -6.1 Other financing cash flows -7.3 -8.3 Net cash (used in)/generated from financing activities -12.2 -14.4 Net cash and cash equivalents at beginning of the period 109.3 158.4 Net change in cash and cash equivalents -36.6 -47.5 Exchange (profits)/losses on cash and cash equivalents -0.6 -1.6 Net cash and cash equivalents at end of the period 72.1 109.3 45
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PUBLIC Consolidated balance sheet ASSETS (€M) FY 2024 FY 2023 Variance Goodwill and other intangible assets 25.7 23.4 2.3 Property, plant and equipment and right-of-use assets 51.6 49.5 2.1 Investments accounted for using the equity method 32.5 18.3 14.2 Other investments 7.5 2.4 5.1 Deferred tax assets 17.5 17.6 -0.1 Long-term derivative financial assets 0.0 0.5 -0.5 Other long-term receivable and operating assets 33.6 33.7 -0.1 Non-current assets 168.4 145.5 22.9 Inventories 152.8 130.5 22.3 Contract assets 63.3 38.4 24.9 Trade receivables 81.5 107.6 -26.1 Other short-term assets and receivables 73.3 65.4 7.9 Short-term derivative financial assets 0.2 0.7 -0.5 Cash and cash equivalents 72.2 109.3 -37.1 Assets held for sale 4.4 - 4.4 Current assets 447.7 452.0 -4.3 TOTAL ASSETS 616.1 597.5 18.6 EQUITY AND LIABILITIES (€M) FY 2024 FY 2023 Variance Share capital and Share premium 86.0 86.0 0 Reserves and Retained earnings 24.9 20.2 4.7 EQUITY 110.9 106.2 4.7 Non-current borrowings 3.5 7.1 -3.6 Non-current lease liabilities 22.3 21.9 0.4 Non-current provisions 6.5 6.2 0.3 Non-current derivative financial liabilities 1.4 0.2 1.2 Deferred tax liabilities 0.2 0.3 -0.1 Other non-current liabilities 2.3 3.0 -0.7 Non-current liabilities 36.2 38.7 -2.5 Current borrowings 6.5 6.5 0 Current Financial Debts 5.0 0 5.0 Current lease liabilities 6.4 6.1 0.3 Current provisions 6.6 8.8 -2.2 Current derivative financial liabilities 3.3 0.6 2.7 Trade payables 79.5 76.6 2.9 Current income tax liabilities 3.6 1.7 1.9 Other payables 72.2 68.9 3.3 Contract liabilities 279.6 283.5 -3.9 Liabilities held for sale 6.2 - 6.2 Current liabilities 469.0 452.6 16.4 TOTAL LIABILITIES 505.2 491.3 13.9 TOTAL EQUITY AND LIABILITIES 616.1 597.5 18.6 46