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MAY 2025 BERENBERG & WOLFE NY CONFERENCES
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2 | This document is for information purposes only and does not constitute an offer to sell, exchange or buy, or an invitation to make offers to buy, securities issued by any of the companies mentioned. This financial information has been prepared in accordance with international financial reporting standards (IFRS). However, as it has not been audited, the information is not definitive and may be modified in the future. The assumptions, information and forecasts contained herein do not guarantee future results and are exposed to risks and uncertainties; actual results may differ significantly from those used in the assumptions and forecasts for various reasons. The information in this document may contain statements regarding future intentions, expectations or projections. All statements, other than those based on historical facts, are forward-looking statements, including, without limitation, those regarding our financial position, business strategy, management plans and objectives for future operations. Such forward-looking statements are affected, as such, by risks and uncertainties, which could mean that what actually happens does not correspond to them. These risks include, amongst others, seasonal fluctuations that may change demand, industry competition, economic and legal conditions, tariffs or restrictions on free trade and/or political instability in the markets where the Fluidra group operates or in those countries where the group's products are manufactured or distributed. Fluidra makes no commitment to issue updates or revisions concerning the forward-looking statements included in this financial information or concerning the expectations, events, conditions or circumstances on which these forward-looking statements are based. In any event, Fluidra provides information on these and other factors that may affect the company's forward-looking statements, business and financial results in documents filed with the Spanish national securities market commission. We invite all interested persons or entities to consult these documents. Alternative Performance Measures (APMs) This document and any related conference call or webcast (including a Q&A session) contain, in addition to the financial information prepared in accordance with IFRS, alternative performance measures (‘APMs’) as defined in the Guidelines issued by the European Securities and Markets Authority (‘ESMA’) on October 5, 2015. APMs are used by Fluidra’s management to evaluate the group’s financial performance, cash flows or financial position in making operational and strategic decisions for the group and therefore are useful information for investors and other stakeholders. Certain key APMs form part of executive directors, management and employees’ remuneration targets. APMs are prepared on a consistent basis for the periods presented in this document. They should be considered in addition to IFRS measurements, may differ to definitions given by regulatory bodies relevant to the group and to similarly titled measures presented by other companies. They have not been audited, reviewed or verified by the external auditor of Fluidra. For further details on the definition, explanation on the use, and reconciliation of APMs, please see the appendix as well as the “Alternative performance measures” document from our website here (link). DISCLAIMER DISCLAIMER
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3 | AGENDA • Why Fluidra wins • Market post pandemic and Fluidra’s positioning • Accelerate growth • Foster competitive differentiation • Enhance operational excellence • Investment priorities and capital allocation • Appendix I & II
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4 | WHY FLUIDRA WINS
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5 | WHY FLUIDRA WINS Leaders in customer-centric innovation, connectivity and sustainable pools – creating competitive differentiation Outstanding financial performance – growth and shareholder value creation enables optimal access to capital 1 #1 player with unique footprint and broadest product offering. Focus on operational excellence Excellent M&A track record and consistent capital allocation 2 3 5 Global leader in a structurally attractive industry, with long-term growth underpinned by resilient aftermarket Experienced and talented team4
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6 | READY FOR OUR NEXT PHASE OF DEVELOPMENT • #1 player worldwide, with diversified presence • Broadest product portfolio in the industry • Gained share to become #2 player in the US 2007-2017 POST IPO – PRE-MERGER 2018-2024 POST MERGER – TODAY Future NEXT PHASE OF GROWTH From €650M to €780M c.2% Sales CAGR 12.7% Adj. EBITDA margin 2017 c.11% average ROCE From €1.3bn to €2.1bn c.8% Sales CAGR 22.7% Adj. EBITDA margin 2024 From 11% to 17% ROCE • Reinforcing leadership and growing in high potential products and regions • Boosting innovation, digital, and product development • Maximizing productivity and efficiency along the value chain +6% to +8% annual sales growth >25% Adj. EBITDA margin >17% ROCE • Mostly European focused, with marginal presence in the US and more exposed to new construction • Restructuring and divesting non-pool businesses • #1 player in Europe and APAC
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7 | MEDIUM-TERM FINANCIAL OBJECTIVES Installed base growth Avg. Ticket on Equipment New Build growth Weather Market share gains Inorganic growth Market growth +4% to +6% +2% Additional Fluidra growth +/-1% Medium-term targets Annual sales growth Adjusted EBITDA margin ROCE >25% >17% +6% to+8%
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8 | STRATEGY AND ENABLERS TO DELIVER MEDIUM-TERM OBJECTIVES Culture, talent and organization Finance discipline Technology, data and Digital Ongoing transformation Sustainability roadmap Accelerate growth Enhance operational excellence Foster competitive differentiation
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9 | LEADING GLOBAL FOOTPRINT WITH CLEAR REGIONAL FOCUS North America Market size: €9.0bn Market share: 10%, #2 Average cost of a pool: c.€100k Central-Northern Europe & Emerging Markets Market size: €4.2 Market share: 12%, #1 Average cost of a pool: Premium pool: c.€50k Basic pool: c.€5k Southern Europe, Australia & New Zealand Market size: €3.8bn Market share: 18%, #1 Average cost of a pool SE: c.€30k Providing growth potential and diversification Local presence Export markets
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10 | MARKET POST PANDEMIC AND FLUIDRA’S POSITIONING
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11 | FLUIDRA LEADS IN AN ATTRACTIVE AND FRAGMENTED INDUSTRY Residential New Build 21% Residential Aftermarket 56% Commercial New build 9% Commercial Aftermarket 14% End demand breakdown 2024 MarketFluidra 12% Player #2 8% Player #3 5% Next 4 players 12% Others 63% Global Pool Market c.€17bn Global competitive landscape 2024 • Aftermarket provides resiliency and visibility • Well positioned in residential pool market with opportunity to grow • Significant expansion potential in commercial pool • Fluidra is #1 or #2 in countries representing 80% of the pool base where it is present – currently #2 in the US (vs #3 in 2019) • Highly fragmented market outside the US • Opportunity for consolidation >1,000 players 60% 30% 10% Fluidra Global Pool Market c.€17bn Source: management estimates
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12 | …provides a great space for relaxation and social gatherings …promotes physical activity and a healthy lifestyle …helps cool down the surrounding area, especially in summer …is ideal for family activities, especially with children …increases the property value Desire for pool as anchor to backyard experience drives demand A HOUSE WITH A POOL…
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13 | 13.6 19.6 2007 2024 United States Europe Latam ANZ RoW Residential in-ground global pool base (million units) New build feeds the installed pool base every year underpinning market growth CAGR: c.2% THE INSTALLED BASE GROWS ANNUALLY 1. ANZ: Australia & New Zealand
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14 | POOL MAINTENANCE UNDERPINS RESILIENT AFTERMARKET DEMAND Consumables, maintenance & repair Start Year 1 New build Year 17 onwards Remodel c.30%(1) (discretionary) (1) % of total market Aftermarket c.70%(1) (resilient) Once a new pool is built, it creates a reliable and predictable aftermarket spending Lifecycle of a pool Pool equipment is 10- 15% of the total pool’s budget More content per pool and connected bundle New pool costs more than doubled vs 10 years ago Aging, low-tech installed base = big opportunity for remodel/upgrade
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15 | …NEW POOLS CURRENTLY AT HISTORICAL LOW LEVELS Will drive growth as they return to normalized levels in the mid-term 128 203 321 143 249 174 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 United States France Spain Germany Australia Residential new pools: top 5 countries (thousand units) 1980-2024 avg: 215k units Correction from the overbuilding in the prior decade 2014-2024 avg: 206k units Top 5 countries: Around 55% of global installed base >70% Fluidra’s sales
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16 | OUR CUSTOMERS ARE AT THE CENTER OF WHAT WE DO Residential Pro Commercial ProConsumer We provide high-quality and reliable products and service helping improve productivity We provide specialized products, quality and service to help pros do their job faster and efficiently We make their pool easier and more enjoyable. We provide a hassle-free pool experience Residential Pool Commercial Pool Solutions We provide end-to-end solutions with deep know-how, expertise and project skills How Fluidra wins
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17 | ACCELERATE GROWTH
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18 | NORTH AMERICA
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19 | SECOND PLAYER IN MARKET WITH LARGEST OPPORTUNITY IN SIZE AND VALUE 1st player 13% Fluidra 10% 3rd player 9% Next 4 players 16% Others 52% Market size €9.0bn Residential new build 18% Residential aftermarket 58% Commercial 24% Demand breakdownCompetitors overview Relatively concentrated market Largest installed pool base. Favorable structural growth trends Higher value-added content per pool Opportunity for remodel and upgrade. Aged installed pool base
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20 | WHY FLUIDRA WINS Customer-centric approach delivering consistent market share gains Sales evolution vs other pool players 16% 8% 10% 11% CAGR (%) 2019 to 2024 Fluidra North America Player A Player B Player C Dealers network CAGR (%) 2019 to 2024 What sets us apart? • Customer centricity o Attentive, extensive and committed technical sales support • Loyal expanding dealer network o Long-lasting relationship coupled with exclusive marketing benefits • Fluidra bundle experience o Complete system with leading automation and smart system • Innovative products and systems creating best-in-class energy efficient pools & water conservation11% 10% 14% 16% Aftermarket New Builds $ # Accts
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21 | STRATEGIES FOR PROFITABLE GROWTH Accelerating growth • Boosting Residential Pro market share • Growing new build share – partner of choice with focused field sales & service support investment • Increasing share in the aftermarket – "drops right in" campaign • Enabling Pool Professionals – leveraging new digital tools • Commercial Pool – Increase share with HMAC focus & dedicated customer technical support center for institutional pools. • Connecting with Consumer - Fluidra Pool App, a catalyst to connect, communicate & generate demand with pool consumers #1 new build player, well positioned to deliver aftermarket growth
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22 | SOUTHERN EUROPE, AUSTRALIA AND NEW ZEALAND
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23 | Fluidra 18% Next 4 regional players 14% Others 68% Market size €3.8bn UNDISPUTABLE LEADER INCREASING CAPILLARITY Strong relevance of aftermarket and existing park renewal Opportunity for consolidation Slow adoption of IoT to date proves opportunity to accelerate Existing technologies provide a solution for sustainability challenge Residential new build 26% Residential aftermarket 54% Commercial 19% Demand breakdownCompetitors overview
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24 | WHY FLUIDRA WINS What sets us apart? • Capillarity – Strong sales network to provide the best customers’ support • Vertically integrated – One-stop shop from manufacturing to distribution • Reliability – Consistent high quality and great service • Product offering – New products and driving innovation • “One Fluidra” – A culture that’s all about fast, agile decision-making and getting things done #1 player in the region with further opportunity to gain share
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25 | STRATEGIES TO ACCELERATE PROFITABLE GROWTH Accelerating growth • Resi-Pro – Expand Pro-Center network, leverage online portal and strengthen the sales team • Consumer – Specialized sales teams, tailored brands and easy-to-install products to respond to growing demand • Commercial pool – Growing in prescription and new product • IoT bundle – Bringing both consumers and pros together on one connected app for a better experience • Opportunity to consolidate market Clear path to continue leading the region
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26 | CENTRAL-NORTHERN EUROPE AND EMERGING MARKETS
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27 | HIGH GROWTH POTENTIAL Residential Pool - 75% (New build 22%, Aftermarket 53%) Commercial Pool - 25% Only global player leading the market Fragmented market, with consolidation opportunities 8 countries representing >50% market size Competitors overview Pool market size €4.2bn Size by country Country 1 15% Country 2 14% Countries 3 to 8 23% Other countries 48%
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28 | WHY FLUIDRA WINS What makes us stronger • “Glocal”: only global player with local presence within the region • Vertically integrated with adapted/tailored product portfolio and go-to-market per region • Winning team in Commercial Pool with strong market recognition and end-to-end capabilities • Scale and financial capacity providing edge vs local players Unique platform for expansion in a region with high growth potential
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29 | STRATEGIES TO ACCELERATE GROWTH • Providing best-in-class service, availability and broad product offering • Expanding novelties and new products • Enhancing commercial excellence strategies • Increasing penetration in new and currently served markets • Growing Commercial Pool with strengthened product offer and turnkey solutions • Consolidating a fragmented market Accelerating growth 20 years ahead of any other global player – TIME TO ACCELERATE GROWTH
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30 | FOSTER COMPETITIVE DIFFERENTIATION
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31 | BROADEST PRODUCT OFFERING IN THE INDUSTRY – UNIQUE PLATFORM Fully fledged product portfolio unique in the industry Connected bundle via Fluidra pool app All equipment and accessories needed to build a pool Adapted to local market needs High and consistent product quality and leading innovative product portfolio Residential equipment 64% Automatic cleaners 12% Chemicals & testing 11% Commercial Pool 9% Non-pool categories 4% FY 2024 sales breakdown by product category 1. ‘Residential equipment’ include hydraulics, heating/cooling, water treatment, lighting, automation, poolside deck equipment & water features, covers, specialty & other, fluid handling, pool basin & white goods 2. ‘APC’ includes suction and pressure cleaners, corded and cordless robots FY 2024 sales €2.1bn
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32 | Sustainability Connectivity Customer & user experience A connected ecosystem to enhance experience provides insights to run pool and business Making life easier for pool pros and end users Entire system connected and managed from an App Energy efficiency, water savings, reduced chemicals Can we create the positive pool of the future? PRODUCT INNOVATION TO CONTINUE TO CREATE DIFFERENTIATION Focus areas Customer and user-centric innovation Winning products Emerging technologies Time to market New business models How we win:
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33 | AN OPPORTUNITY TO LEVERAGE GLOBAL PLATFORM 56% sustainable product (as % of FY 2024 sales) 300 engineers(1) 6 R&D centers €55M R&D investment(2) (c.3% of FY 2024 sales) >1,700 patents worldwide >1 million connected pools c.20% vitality ratio 1. R&D and IoT 2. Capex and opex €20M VC fund to invest in emerging companies with unique technologies to reinforce our leadership R&D CENTERS MELBOURNE BARCELONA ATLANTA CARLSBAD TOULOUSE PUNE
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34 | UNLOCKING VALUE - FROM REGIONAL TO GLOBAL R&D …to global specialized product development From regional multiproduct engineering… • 5 design centers & 1 software center • Each center with broad scope of development • Custom product variations increasing cost / complexity • Fragmented talent • Duplicated efforts Faster time to market Optimised resource allocation Platform strategy - opportunity to simplify portfolio Operational efficiency - lower asset intensity, higher productivity Enhanced product quality • Engineering category teams • Global centers of excellence • Shared services • Common product platforms and standarised components • Strategic co-location and outsourcing Leveraging global capabilities for more efficient product development - enabling supply chain and manufacturing simplification Benefits
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35 | CREATING COMPETITIVE DIFFERENTIATION BY BUILDING A DISRUPTIVE ECOSYSTEM Value creationDemand generation Data | Tech & system platforms | IOT END USERS POOL PROS DIGITAL TRANSFORMATION Help me run my business more efficiently Make my pool experience easy and entertaining SALES ENABLEMENT 1M Connected pools 3M 150K Pool pros 30K Pool prosConnected pools High-quality products for superior results that help professionals grow Effortless pool care solutions for crystal-clear water every time …that seamlessly connects pool professionals and owners continuously leading the industry
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36 | BRINGING A NEW STANDARD FOR INTEGRATED POOL EXPERIENCES …that will create deeper connections between professionals and pool owners
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37 | ENHANCE OPERATIONAL EXCELLENCE
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38 | Driving operational excellence with global capabilities and regional execution OPERATIONAL FOOTPRINT TO BE CLOSE TO CUSTOMER BASE BRINGING COMPETITIVE ADVANTAGE | 35 Manufacturing hubs +150 Distribution points +100,000 Products +10,000 Suppliers
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39 | UNLOCKING VALUE THROUGH OUR OPERATIONS STRATEGY | Best-in-class operations Agile, cost-effective, and customer-centric global integrated supply chain that drives operational excellence and enables growth Resilient, agile & sustainable supply chain Operations vision Strengthen process foundations Enablers and foundations Digital end-to-end Organization, capabilities and operating model High performance culture Employee experience and safety
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40 |40 Accumulated savings to date Variable cost Fixed cost €31m €75m €100m • Reducing structure overlaps • Global procurement savings • Design to Value (DtV) • SKUs rationalization Expected total gross savings FY 2023 Q1 2025 FY 2025FY 2024 €68m SIMPLIFICATION PROGRAM ON TRACK AND DELIVERING
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41 | TECHNOLOGY AN ENABLER TO DELIVER ON STRATEGY AND TRANSFORMATION | Investing for growth – c.€85M in the next 7 years Strategic enabler to business transformation New S&OP tool SAP pilot and rollout 2021 2022 2023 2024 2025 2026 2027-2031 c.€10M annuallyc.€15Mc.€20Mc.€10Mc.€10MAnnual investment Simplified processes Higher scalability & flexibility Business process standarization Cost reduction and operational efficiency
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42 | UNLOCKING UNTAPPED VALUE ALIGNED WITH OUR OPERATIONS STRATEGY | STRATEGIC THEME TODAY - SIMPLIFICATION NEXT OPPORTUNITY Strategic supplier management Global sourcing strategy focused on top 60+ suppliers to drive savings and efficiency Data-driven procurement & supplier collaboration to reduce costs and inefficiencies Design to Value DtV Lab with teardown & clean sheet toolkits, driving improvements across 8 product categories Expanding DtV from cost focus to full portfolio optimization with platforms and modularization Flexible and scalable footprint Footprint optimization within each region Future-proof footprint design based on core processes to maximize efficiency Focus on DtV and procurement savings Optimizing a global operating model and end-to-end strategy Opportunity to deliver additional €120M productivity and cost savings 2026-2030
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43 | INVESTMENT PRIORITIES AND CAPITAL ALLOCATION
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44 | WE HAVE DELIVERED EXCEPTIONAL GROWTH AND RETURNS SINCE IPO… 657 2,102 2007 2024 +220% CAGR c.7% Sales (€M) 95 477 2007 2024 +405% CAGR c.10% 14.4% 22.7% Adj. EBITDA (€M) and margin (%) 297% 331% 51% 20% Fluidra S&P 500 STOXX 600 IBEX 35 Fluidra CAGR c.7% Total shareholder return 2007-2024 (%)
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45 | …WITH EVEN FURTHER INCREASED STRENGTH IN THE LAST FIVE YEARS 269 477 2019 2024 +78% CAGR c.12% 19.7% 22.7% Adj. EBITDA (€M) and margin (%) 1,368 2,102 2019 2024 +54% CAGR c.9% Sales (€M) 12% 17% 2019 2024 >460 bps ROCE % 168% 150% 74% 60% Fluidra S&P 500 STOXX 600 IBEX 35 Fluidra CAGR c.9% Total shareholder return 2019-2024 (%)
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46 | M&A - A KEY LEVER TO CREATE VALUE IN A FRAGMENTED INDUSTRY Strategic focus areas • Strengthening product offering, aligning with core strategy – grow in Commercial Pool & focus on connected and sustainable pools • Expand distribution network – smaller regional players • Opportunity to grow geographically in areas with less market share Financially disciplined approach • ROCE as a key guiding metric, ensuring consistent capital allocation • Compelling valuation – c.7x EV/EBITDA multiple target • Synergy-driven acquisitions - focus on targets that deliver operational synergies and/or cross- selling opportunities across Fluidra’s ecosystem 2020 2023 2017 2021 2022 2024 2025
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47 | AIPER – TECHNOLOGY, GROWTH & INNOVATION IN POOL CLEANING Impressive Sales Performance ($M) 98 112 195 2022 2023 2024 41% CAGR Product roadmap & marketing strategy >80% Online Sales ~470 Professionals ~270 R&D engineers $20 million Investment in R&D Strategic supplier footprint in China and Vietnam Well-known consumer brands 50% 35% 15% North America Europe RoW R&D to offer cutting edge products with mid to high-end positioning $195M FY24 OPP Basic Features MPP Leading Features HPP Disruptive Features 2024 Scuba E1 Scuba S1 Scuba S1 Pro Scuba N1 Ultra Scuba SE Surfer S2 Scuba X1 Scuba X1 Pro Scuba X1 Pro Max Scuba S1 (2025) 2026-Beyond Next Generation 3rd Generation 2nd Generation Scuba N1600 20252023 Seagull SE Seagull Plus Seagull Pro 1st Generation AI-Powered Robotics Source: Company information
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48 | AIPER - COMPLEMENTARY STRENGHTS TO WIN IN A GROWING MARKET Fast-growing, technology driven and innovative cordless robotic pool cleaning player. Cleaner market remains largely underpenetrated, with adoption rates still below 25% Attractive consumer brand, direct to consumer go-to-market approach in category with substantial growth opportunity Structured in two steps with initial interest of 27% and product development collaboration. Phase II increasing interest to > 51% Partnership unlocking value by bringing together Fluidra’s global expertise, scale and capabilities with Aiper’s advanced technology. Aiper to focus on B2C while Fluidra continues to focus on B2B distribution Partnering with a talented team, with strong international experience and extensive track record in consumer electronics + 1 2 3 4 5
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49 | • State-of-the-art Pool Pro software platform developed in Australia ▪ Streamlines operations – making it easier to run the business ‐ Easier to drive scale with automated services ‐ Improved customer engagement ‐ Enabling boost in digital sales to drive growth and demand generation ▪ Enables connectivity and integration with Fluidra Pool • €6M investment, return in line with capital allocation framework • Will enhance Fluidra’s leadership in digital – to be rolled out globally to accelerate digital strategy and transformation POOL TRACKR – ACCELERATING DIGITAL STRATEGY
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50 | CONSISTENT CAPITAL ALLOCATION TO GENERATE VALUE – UNCHANGED FRAMEWORK Resilient balance sheet: Target to run the business at approximately 2x leverage in the medium term Value-accretive acquisitions • Acquisitions (>1% of sales CAGR) • Investment criteria focused on growth and returns above cost of capital by year 3 Dividends and others • Dividend payout ratio around 50% of Adjusted EPS • Additional returns if surplus cash (buy-backs or specials) Group RoCE target >17% Organic growth • Invest for growth and innovation • Capex inc. R&D (c.3% of net sales) Accumulated cash deployment since 2019 (c.€1.5bn) 25% 35% 40% 1 2 3
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51 | APPENDIX I - Q1 2025 RESULTS PRESENTATION
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| • Strong start to the year with sales up 7% and growth across all regions in a dynamic operating environment ▪ Positive volume and price contribution ▪ Good gross margin progression (up 250 bps), driven by the Simplification Program ▪ Improved leverage ratio (down 0.3x) with stable working capital levels relative to sales • Plan to fully offset tariffs impact in 2025 • Consistent capital allocation ▪ Investing for growth – acquisitions in the quarter of Aiper and PoolTrackr ▪ Attractive shareholder returns ‐ Proposed dividend of €0.60 per share, around 50% 2024 Adjusted EPS, in line with policy • FY 2025 guidance maintained after Q1 results - we continue to monitor fluid trading environment • Keeping our focus on strengthening the business for the long-term 52 KEY MESSAGES
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| YTD financial highlights €M 2024 2025 Evol. 25/24 Const. FX & Perimeter Sales 527 564 6.9% 5.1% Adjusted EBITDA 118 131 10.4% 8.3% Adjusted EBITA 95 105 10.1% 8.7% Adjusted EPS 0.31 0.35 12.5% Operating net working capital 588 632 7.6% 7.3% Net debt 1,345 1,335 (0.8%) (0.8%) Net debt / LTM Adj. EBITDA 3.0x 2.7x (0.3x) • Sales up strongly, with positive volume and price contribution and growth across regions • Adjusted EBITDA 10% higher YoY, driven by higher gross margin despite inflation in Opex • Adjusted EPS with double-digit growth • Operating NWC as % of sales stable y-o-y, investment reflects growth in the business • Improved leverage ratio due to stronger operating performance, on stable net debt levels 53 STRONG Q1 PERFORMANCE
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| YoY growth (%) Const. FX & Perimeter Sales by geography YTD 2025 Southern Europe 3.5% Rest of Europe 2.5% North America 7.3% Rest of the World 3.5% Total 5.1% Good performance across all regions, continuing momentum seen in 2024 54 STRONG SALES GROWTH DRIVEN BY VOLUME AND SHARE GAINS 7%5%1%1%1% 7% 527 564 5 5 3 24 Q1’24 FX Perimeter Price Volume Q1’25 7%
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| • Tariffs in place today are different versus those effective at the end of February ▪ Estimated gross tariff impact April to December of around €50 million (driven by China, group mostly USMCA compliant) • Initiatives undertaken ▪ Worked with suppliers to realign supply chain and reduce cost base ▪ Implemented price increases in North America with further increases planned 55 FULLY OFFSETTING IMPACT OF TARIFFS Expect to fully offset impact of tariffs on P&L in 2025
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| YTD results €M 2024 % Sales 2025 % Sales Evol. 25/24 Sales 527 100% 564 100% 6.9% Gross margin 289 54.8% 323 57.3% 11.6% Opex 171 32.4% 192 34.1% 12.5% Adjusted EBITDA 118 22.4% 131 23.2% 10.4% D&A (non-PPA related) 23 4.4% 26 4.6% 11.4% Adjusted EBITA 95 18.0% 105 18.6% 10.1% Amortization (PPA related) 16 3.0% 15 2.7% (5.5%) Restructuring, M&A, integration expenses and SBC 15 2.8% 7 1.2% (53.6%) Financial result 13 2.5% 18 3.2% 35.0% Income tax expense 14 2.6% 17 3.0% 25.3% Profit/loss attributable to NCI 1 0.1% 0 0.0% (70.7%) Profit/loss attributable to the parent 37 7.0% 48 8.5% 29.3% Adjusted net profit 59 11.2% 66 11.8% 12.5% Notes: SBC = Stock based compensation expense; NCI = Non-controlling interests • Sales up 7% year-on-year, with growth across all regions • Gross margin strongly improved YoY, benefitting from the Simplification Program and mix • Operating expenses reflect labor, logistics and general costs inflation together with continued investment in digitalization and growth. M&A contributed around €2M • Higher Adjusted EBITDA and margin YoY • Restructuring, M&A and integration expenses considerably down as expected • Financial result higher YoY mostly driven by FX • Adjusted net profit 12% higher YoY 56 CONTINUED MARGIN EXPANSION
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| Cash flow (abridged) and net debt YTD €M 2024 2025 Evol. 25/24 Adjusted EBITDA 118 131 12 Net interest paid (15) (15) 0 Corporate income tax paid (9) (4) 5 Operating working capital (220) (287) (67) Other operating cash flow(1) (8) (2) 6 CF from operating activities (133) (177) (44) Capex (13) (14) (1) Acquisitions / divestments (1) (19) (17) Other investment cash flow 3 0 (3) CF from investing activities (12) (32) (21) Payments for lease liabilities (11) (12) 0 Treasury stock, net 0 0 (1) Dividends paid (1) 0 1 Financing cash flow (12) (12) 0 Free cash flow (157) (222) (65) Prior period net debt 1,172 1,132 (41) FX & lease changes 15 (19) (34) Free cash flow 157 222 65 Net debt 1,345 1,335 (10) Lease liabilities (203) (180) 23 Net financial debt 1,142 1,155 13 • Improved leverage ratio due to stronger operating performance, on stable net debt levels • CF from operating activities reflects higher investment in working capital on the back of strong growth during the quarter ▪ Stable WC levels vs a year ago, with good control of inventory levels and similar levels of receivables and payables • CF from investing activities reflects completion of BAC in Jan 2025 • Stable Financing cash flow YoY (1) Includes Restructuring, M&A and integration expenses 57 GOOD PROGRESS IN DELEVERAGING
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| • Strong start to the year with growth in sales and EBITDA • Simplification Program delivering margin improvement • Action plan in place to fully offset tariffs • Maintaining guidance: confident in full year delivery despite geopolitical and macro-uncertainty which we continue to monitor • Confident in our future: ▪ Global leader in a structurally attractive industry well positioned to consistently generate value into the future ▪ Team focused on long-term value creation while taking action today 58 SUMMARY Guidance for FY 2025 Sales (€M) 2,140 - 2,250 Adjusted EBITDA (€M) 500 - 540 Adjusted EPS (€/share) 1.33 - 1.48
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APPENDIX RESULTS PRESENTATION
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| YTD €M 2024 % Sales 2025 % Sales Evol. 25/24 Const. FX Constant perimeter Const. FX & Perimeter Southern Europe 145 28% 152 27% 4.5% 4.5% 3.5% 3.5% Rest of Europe 61 12% 65 11% 6.3% 5.6% 3.1% 2.5% North America 239 45% 262 46% 9.8% 7.3% 9.8% 7.3% Rest of the World 83 16% 85 15% 3.1% 4.9% 1.6% 3.5% Total 527 100% 564 100% 6.9% 6.0% 6.0% 5.1% 60 SALES BY GEOGRAPHY
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| YTD €M 2024 % Sales 2025 % Sales Evol. 25/24 Const. FX & Perimeter Pool & Wellness 520 99% 555 98% 6.7% 4.9% Residential 374 71% 405 72% 8.3% 6.2% Commercial 44 8% 47 8% 6.7% 4.6% Residential Pool Water Treatment 77 15% 77 14% 0.4% 0.1% Fluid Handling 26 5% 26 5% 1.2% 0.4% Irrigation, Industrial & Others 7 1% 9 2% 19.4% 18.9% Total 527 100% 564 100% 6.9% 5.1% 61 SALES BY BUSINESS UNIT
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| YTD €M 2024 2025 Evol. 25/24 Profit/loss before tax 51 65 27.0% Financial result 13 18 35.0% D&A 39 41 4.5% Restructuring, M&A and integration expenses 13 5 (58.9%) Stock based compensation expense 2 2 (14.9%) Adjusted EBITDA 118 131 10.4% 62 RECONCILIATION OF PBT TO ADJUSTED EBITDA
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| YTD €M 2024 2025 Evol. 25/24 Profit/loss attributable to the parent 37 48 29.3% Restructuring, M&A and integration expenses 13 5 (58.9%) Stock based compensation expense 2 2 (14.9%) Financial result 13 18 35.0% Net interest paid (15) (15) 2.7% Amortization (PPA related) 16 15 (5.5%) Tax effect on adjustments (7) (6) (15.8%) Total cash adjustments 22 19 (15.5%) Adjusted net profit 59 66 12.5% Share count 192 192 - Adjusted EPS 0.31 0.35 12.5% 63 RECONCILIATION OF PROFIT ATTRIBUTABLE TO THE PARENT TO ADJUSTED EPS
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| March €M 2024 % LTM sales 2025 % LTM sales Evol. 25/24 Inventories 491 24.2% 519 24.3% 5.8% Trade and other receivables 527 26.0% 530 24.8% 0.5% Trade payables 430 21.2% 417 19.5% (3.1%) Operating net working capital 588 29.0% 632 29.6% 7.6% Dividends, earn-outs & others 3 0.2% 5 0.2% 43.9% Total net working capital 585 28.9% 628 29.4% 7.4% 64 NET WORKING CAPITAL
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| Assets 03/2024 03/2025 Liabilities 03/2024 03/2025 PPE & rights of use 372 364 Share capital 192 192 Goodwill 1,312 1,323 Share premium 1,149 1,149 Other intangible assets 877 827 Retained earnings and other reserves 262 317 Non-current financial assets 43 19 Interim dividends - - Other non-current assets 107 115 Treasury shares (44) (52) Total non-current assets 2,711 2,648 Other comprehensive income 70 46 Non-controlling interests 8 10 Total equity 1,637 1,662 Bank borrowings and other marketable securities 1,099 1,092 Other non-current liabilities incl. lease 377 329 Non-curr. assets held for sale 5 - Total non-current liabilities 1,476 1,421 Inventories 491 519 Liab. linked to non-curr. assets held for sale 3 - Trade and other receivables 527 530 Bank borrowings & loans 170 150 Other current financial assets 4 2 Trade and other payables 433 421 Cash and cash equivalents 79 66 Other current liabilities incl. lease 99 111 Total current assets 1,107 1,117 Total current liabilities 705 682 Total assets 3,817 3,765 Total equity & liabilities 3,817 3,765 65 INTERIM FINANCIAL POSITION (ABRIDGED)
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APPENDIX II – SUSTAINABILITY STRATEGY
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67 | RESPONSIBILITY BLUEPRINT: OUR ROADMAP (2020-2026) GOVERNANCE: Be at the forefront of the best corporate governance practices ENVIRONMENT: Contribute to sustainable development through our products and our activities SOCIAL: Enhance the wellbeing of our employees, our value chain and society Sustainable products Natural resources Climate action Diversity, equity and inclusion Commitment to community Quality employment Transparency Ethics Alliances We turn water into a better world
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68 | CLIMATE ACTION Carbon neutral in our operations by 2027 -55% Carbon emissions +21% Energy efficiency +10k Solar panels installed +40k Trees planted
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69 | WATER CARE Water positive in our operations by 2030 -4% m3/uds Produced in operations for 2025 9% Water replenished in 2025 16% Sales associated with water-saving solutions +100% Water replenished in 2030
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70 | Ratings serve as a benchmark for continuous improvement, guiding Fluidra toward excellence through transparency, performance measurement, and accountability RATINGS AS A CATALYST FOR EXCELLENCE 72/100 Included in the Sustainability Yearbook for 3rd time B Sustainability A- in 2023 AA Climate Change & Water A in 2023 Sustainability 0.9%89% Employee Engagement (2023) Adjusted gender Wage Gap Sustainable Products 60% in 2026 72% Critical suppliers audited Global NPS Employee turnover -27% VS LY 56% 13%7.33/10
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71 | THANK YOU! Should you have any further questions, please reach out to the Investor Relations team: Clara Valera - Strategy, Investor Relations and FP&A Senior Director Pol Neiro - Investor Relations Manager investor_relations@fluidra.com