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Add an image by clicking on the icon in the center of the slide. You can also copy an image, select the image placeholder and paste it. Make sure the logo is in front of the image and visible. If not, you can try the inverted option. Welcome to the 9M 2025/2026 Analyst & Investor Call Markus Ruf, Marc-René Tonn| August 2026
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− Market environment impacted by geopolitical tensions, lower car sales in China, increasing protectionism and weak economic environment in Germany − Car OEMs expecting further deteriorating profitability in 2026; profitability well below mid- to long-term ambitions; sales and/or profit expectations lowered in recent weeks; R&D budgets reduced − However, order intake encouraging: Incoming orders in 9M 2025/2026at > EUR 1bn, more than 30% ahead of prior year's level (9M 2024/2025: EUR 0.8bn) − Solid order development not yet reflected in actual call-offs; total revenues in 9M 2025/2026 down 9% yoy; however, top-line decline in Q3 at -5% yoy less severe than in H1 (-12% yoy) − Positive effects from F³ program at more than EUR 120m p.a. ahead of original planning as additional measures support − EBIT in 9M improved yoy despite further top-line decrease supported by F³ measures support and lower restructuring expenses − Operating Cashflow at EUR 23.2m clearly positive and slightly ahead of prior year’s level (EUR 22.7m); strong Q4 result expected − Equity ratio at 41.4% on very solid level and on par with level from end of June 2025 (41.5%) 03/08/2026 Bertrandt AG I Analyst and Investor Call 9M 2025/2026 2 Review 9M 2025/2026
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03/08/2026 Bertrandt AG I Analyst and Investor Call 9M 2025/2026 3 Automotive Germany Industry still in crisis; OEMs and suppliers with negative outlook for revenues and earnings Porsche Tightens Cost-Cutting Measures – Several Subsidiaries to Be Closed Strategic Refocus Gains Momentum as Automotive Transformation Strains Margins Up to €30 Billion – The Potential Damage to Germany’s Automotive Industry German Automakers Struggle as Revenue Slips and Earnings Collapse” Germany’s Automotive Industry Faces Structural Stress as Transformation Costs Rise From Growth Engine to Restructuring Case: Germany’s Auto Industry in Decline Volkswagen Steps Up Cost-Cutting as Plants and Tens of Thousands of Jobs Are at Risk”
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03/08/2026 Bertrandt AG I Analyst and Investor Call 9M 2025/2026 4 German OEM R&D Spending − (German) automotive OEMs with negative top-line growth in Q2 2026 − Cash R&D expenses at German car OEMs down 7.5% yoy (H1 2026: -6.7%) − Despite lower spending R&D P&L cost ratios increase at BMW and P911 as amortization of past R&D weighs − R&D cost cutting to stabilize earnings achieved by lower spending − Excess capacity at captive R&D division temporarily weighing on outsourcing Source: Company Reports Q2 2026 Sales Auto Cash R&D R&D P&L BMW 27,162 1,959 1,909 7.0% % yoy -7.7% -3.8% 5.8% +0.9pp MB Cars&Vans 25,881 2,080 1,836 7.1% % yoy -3.8% -12.0% -10.7% -0.5pp Porsche AG 7,777 517 681 8.8% % yoy -6.5% -14.1% 5.4% +1.0pp Volkswagen Group 73,466 4,676 4,576 6.2% % yoy -0.7% -6.9% -0.9% -0.0pp Profitability (EBITmargin Automotive business) Forecast Strategic 2023 2024 2025 2026 Goal BMW 9.8% 6.3% 5.3% 1-3%** 8-10% MB Cars (EBIT adj.) 12.6% 8.1% 5.0% 3-5% 8-10% P911 (Group) 18.0% 14.1% 10.0%* 5.5-7.5% 10-15% Volkswagen Group 7.0% 5.9% 2.8% 4.0-5.5% 8-10% * adj. for EUR 3.2bn one-offs from startegic realignment, product strategy and battery activities ** downgraded from 4-6% on 16 June 2026 R&D P&L/ Auto Sales
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Bertrandt AG I Analyst and Investor Call 9M 2025/2026 5 03/08/2026 9M 2025/2026 at a glance Total Sales EUR 672m -9% yoy Employees 11,537 -1,135 -9% yoy EBIT EUR -28.9m 9M 24/25: EUR -38.9m Operating cashflow EUR 23.2m +2% yoy Equity EUR 269m (-15% vs. 30 June 24/25) Equity Ratio 41.4% (-0.1pp vs. 30 June 24/25)
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Bertrandt AG I Analyst and Investor Call 9M 2025/2026 6 03/08/2026 Q3 2025/2026 at a glance Total Sales EUR 215m -3% qoq -5% yoy EBIT EUR -15.8m Q3 24/25: EUR -24.6m EPS EUR -1.89 Q3 24/25: EUR -2.87 Free cashflow (9M) EUR 14.8m 9M 24/25: EUR 16.9m Investment Spending (9M) EUR 9.9m 9M 24/25: EUR 5.8m
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− Total sales down by EUR -70m (-9% yoy) in 9M 25/26 ▪ Higher amount of orders on hand not yet reflected in actual customer call-offs ▪ Top-line decrease in Q3 at -5% below double-digit levels from H1 (-12%) ▪ Germany: -9% yoy; RoW: -10% yoy 03/08/2026 Bertrandt AG I Analyst and Investor Call 9M 2025/2026 7 Revenue decline moderating in Q3 Total sales, EUR m Q1 Q2 Q3 Q4 14,401 13,605 11,932 14,526 13,181 11,744 14,415 12,672 11,537 14,028 12,185 2023/2024 2024/2025 2025/2026 Q1 Q2 Q3 Q4 Employees 266,451 234,052 249,952 222,651 225,580 214,935 235,953 2024/2025 2025/2026 Q1 Q2 Q3 Q4 GE: -1,046 RoW: -89 +6 working days qoq (+1 yoy)
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03/08/2026 Bertrandt AG I Analyst and Investor Call 9M 2025/2026 8 Diversification: expansion of Aerospace/Defence business inline with group strategy 80% 10% 10% 9M 2025/2026 Automotive Aerospace/Defence Other 83% 7% 10% 9M 2024/2025 Automotive Aerospace/Defence Other − Automotive revenues declined because of ongoing lower call-offs − Aerospace/Defence with substantial growth (+18% yoy); currently many projects in tender − Mid-term strategic target of 20-25% sales outside of Automotive reached at lower end of corrdior: A&D business is up significantly and as Automotive business is down yoy
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− Reduced capacity demand causing uneven and unfavorable capacity utilization − All cost items reduced inline with sales trend − Current headcount secures service, know-how, competencies − F3 cost saving benefits effective; savings at > EUR 120m p.a.; incremental savings of ca. EUR 15m expected for H2 vs. H1 03/08/2026 Bertrandt AG I Analyst and Investor Call 9M 2025/2026 9 EBIT benefits from cost savings while weak call-offs weigh Q1 Q3 Q4 -2,143 0.238 -12,236 -13,123 -24,558 -15,788 3,418 2024/2025 2025/2026 Q1 Q2 Q3 Q4 Q2Q2 Q1 Q3 Q4 Q4 Q3 Seasonally soft quarter; call-offs still sluggish +6 working days qoq; additional F³ cost savings * arrows just for illustration purposes; not to scale
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03/08/2026 Bertrandt AG I Analyst and Investor Call 9M 2025/2026 10 P&L KPIs: cost optimizations offset top line decline Commentabsolute yoy(% sales)9M 2024/25(% sales)9M 2025/2026Item (EUR m) Ongoing weak capacity call-offs despite strong order book; lower headcount and short-time work-70.346-741.983-671.638Total sales Increase mainly driven by assumption of electricity costs from operations in material costs from 25/26 (OOE before) 11.3%-83.61012.3%-82.613Material expenses Reduction of headcount supportive; lower restructuring expenses; utilization still too low80.3%-595.48579.7%-535.418Personnel expenses incl. EUR -1.9m trade receivable write-off in 24/25 electricity costs from operations included9.1%-67.5818.0%-53.823 Other operating expenses Various effects incl. asset sale, FX0.9%6.5050.9%5.829 Other operating income +3.8000.2%1.8120.8%5.612EBITDA Decreasing as investment spending is reduced5.5%-40.7495.1%-34.523D&A Still negative, but improved yoy despite a significant top-line decrease+10.026-5.2%-38.937-4.3%-28.911EBIT
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03/08/2026 Bertrandt AG I Analyst and Investor Call 9M 2025/2026 11 Balance sheet KPIs Comment2024/2025 (end of period) 9M 2025/2026 (end of period)Item (EUR m) CapEx < D&A Working Capital reduction Gross liquidity optimization 734.261650.938Balance sheet total Substantial release of working capital (trade receivables)238.896208.120Working Capital (WC) + Working Capital improvement - Reduction of gross indebtedness85.72842.127Cash and cash equivalents Down due to negative net result307.069269.356Equity Working Capital and gross liquidity / debt reduction as well as lower fixed asset base support the equity ratio41.8%41.4%Equity ratio Slight increase in net (financial) debt vs. year-end 2024/2025213.753 (149.863) 226.129 (158.281)Net (financial) debt Solid level at well below 100%70% (49%)84% (59%)(Financial) Gearing Ratio
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Forecast for fiscal year 2025/2026 Bertrandt AG I Analyst and Investor Call 9M 2025/2026 12 03/08/2026 Ongoing and accelerated transfer of R&D into international locations Weak economic environment / sentiment burdening in Germany Growth outlook subdued Announced investment programs could be helpful Capacity call-offs still sluggish and volatile Higher order intake and customer dialogues encouraging signs External factors (e.g. geopolitical tensions, trade disputes) are outside the management's sphere of influence Regulatory requirements, competitive and innovation pressure drive investments in R&D mid-term
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03/08/2026 Bertrandt AG I Analyst and Investor Call 9M 2025/2026 13 Order intake up significantly yoy − Order intake significantly (~ +40%) up yoy at close to EUR 1.2bn for the LTM (July 2025 until June 2026) period − Also ytd (October until June) incoming order volume developed favourably − Good order situation indicates continued solid underlying demand for engineering service providers − However, actual call-offs have to follow the positive order development
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03/08/2026 Bertrandt AG I Analyst and Investor Call 9M 2025/2026 14 Summary / Outlook − Incoming orders in last nine months significantly up yoy; encouraging sign for stabilization / improvement of the top-line development − (German) automotive OEMs continue to spend on R&D; Outsourcing expected to structurally increase (again) − Bertrandt will benefit from concentration of ESP landscape ; three main customers with major push in this direction − Internationalisation offers additional potential with existing and new customers − Diversification to support growth and resilience through balancing of business cycles; long-term A&D sales ambition of EUR 300 million p.a. − AI initiatives in various fields, implemented in collaboration with diverse partners − F³ program with savings of > EUR 120 p.a.; well above original target (70-90m); additional incremental cost saving in H2 of ca. EUR 15m vs. H1 supporting bottom-line and lowering break- even level Source: VDA Total R&D market +1.9% CAGR (22-30e) Outsourcing +4.6% CAGR (25-30e) Software-driven R&D +7.2% CAGR (25-30e) Outsourcing at Software-driven R&D +12.9% Source: berylls by AlixPartners Source: Bain & Company Inc.; berylls by AlixPartners
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03/08/2026 Bertrandt AG I Analyst and Investor Call 9M 2025/2026 15 Revised forecast FY 2025/2026 Moderately down yoy (FY 2024/2025: EUR 978m) Significantly up yoy positive value uncertain (FY 2024/2025: EUR -36m) Significantly up yoy (FY 2024/2025: EUR 26m) Total Revenues EBIT FY 25/26 Moderate: +/- 0-10% Significant: > +/- 10% Operating Cashflow
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03/08/2026 Bertrandt AG I Analyst and Investor Call 9M 2025/2026 16 Q&A Markus Ruf, Marc-René Tonn
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Thank you very much for your participation Do you have any questions? Please contact: marc-rene.tonn@bertrandt.com 03/08/2026 Bertrandt AG I Analyst and Investor Call 9M 2025/2026 17
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Bertrandt AG I Analyst and Investor Call 9M 2025/2026 18 Financial calendar and download links 18 December 2025 FY 2024/2025, Investor, Analyst & Press conferences 12 February 2026 Q1 2025/2026 18 February 2026 AGM (Sindelfingen) 13 May 2026 Q2 2025/2026, Capital Market Day (Ehningen) 03 August 2026 Q3 2025/2026 17 December 2026 FY 2025/2026, Investor, Analyst & Press conferences Financial Calendar 03/08/2026
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Bertrandt AG I Analyst and Investor Call 9M 2025/2026 19 Markus Ruf Member of the Board, Finance Marc-René Tonn Head of Group Investor Relations, Strategy, Corporate Development and M&A Bertrandt AG, Birkensee 1, 71139 Ehningen, Germany +49 151 12664845 marc-rene.tonn@bertrandt.com www.bertrandt.com 03/08/2026
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This presentation contains, among other things, certain forward-looking statements about future developments that are based on management's current estimates. Such statements are subject to certain risks and uncertainties. If any of these or other uncertainties materialize, or if the assumptions underlying any of these statements prove incorrect, then actual results may be materially different from those expressed or implied by such statements. We do not intend, nor do we assume any obligation, to update forward-looking statements on an ongoing basis, as they speak only as of the date they are made. Insofar as this presentation refers to statements by third parties, namely analysts' estimates, the Company does not adopt these as its own, nor does it evaluate or comment on them in any other way, nor does it claim to be complete in this respect. The masculine form of speech is used for better readability. It is used to address all genders equally. Bertrandt AG I Analyst and Investor Call 9M 2025/2026 20 Disclaimer 03/08/2026