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FY 2025 RESULTS 25 th FEBRUARY 2026
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DISCLAIMER This presentation includes or may include representations or estimations concerning the future about intentions, expectations or forecasts of VIDRALA or its management. which may refer to the evolution of its business performance and its results. These forward-looking statements refer to our intentions, opinions and future expectations, and include, without limitation, statements concerning our future business development and economic performance. While these forward-looking statements represent our judgment and future expectations concerning the development of our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, (1) general market, macro-economic, governmental and regulatory trends, (2) movements in local and international securities markets, currency exchange rates and interest rates as well as commodities, (3) competitive pressures, (4) technological developments, (5) changes in the financial position or credit worthiness of our customers, obligors and counterparties. The risk factors and other key factors that we have indicated in our past and future filings and reports, including those with the regulatory and supervisory authorities (including the Spanish Securities Market Authority – Comisión Nacional del Mercado de Valores - CNMV), could adversely affect our business and financial performance. VIDRALA expressly declines any obligation or commitment to provide any update or revision of the information herein contained, any change in expectations or modification of the facts, conditions and circumstances upon which such estimations concerning the future have been based, even if those lead to a change in the strategy or the intentions shown herein. This presentation can be used by those entities that may have to adopt decisions or proceed to carry out opinions related to securities issued by VIDRALA and, in particular, by analysts. It is expressly warned that this document may contain not audited or summarised information. It is expressly advised to the readers of this document to consult the public information registered by VIDRALA with the regulatory authorities, in particular, the periodical information and prospectuses registered with the Spanish Securities Market Authority – Comisión Nacional del Mercado de Valores (CNMV).
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1. Comparable scope excludes the effect of perimeter changes due to the sale of Vidrala Italia in 2024. 2. For comparability purposes, EBITDA and earnings per share figures are presented excluding EUR 13.7 million and EUR 10.2 million for restructuring costs, respectively, as disclosed in the APMs section. 3. Debt figure and leverage ratio do not include the effect of IFRS 16 Leases. 3 FY 2025 KEY FIGURES MANUAL Sales (EUR million) EBITDA (EUR million)2 Earnings Per Share (EUR)2 Free Cash Flow (EUR million) Debt (EUR million)3 Debt / LTM EBITDA (multiple)3 FY 2025 1,465.2 441.0 6.24 200.1 105.3 0.2x Change -7.8% -2.8% -26.0% -2.8% -57.6% -0.4x reported Change -5.4% -0.1% -6.8% comparable scope1
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1,588.3 1,571.3 1,465.2 -1.1% -1.4% -5.4% 700 900 1.100 1.300 1.500 1.700 FY 2024 Scope change FY 2024 proforma Organic change FX effect FY 2025 4 SALES YEAR OVER YEAR CHANGE EUR million Scope change refers to the effect of perimeter change due to the sale of Vidrala Italia in 2024. -6.8% YoY
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454.0 449.4 441.0 -1.0% -0.1% -1.8% 100 200 300 400 500 FY 2024 Scope change FY 2024 proforma Organic change FX effect FY 2025 5 EBITDA YEAR OVER YEAR CHANGE EUR million -1.9% YoY Scope change refers to the effect of perimeter change due to the sale of Vidrala Italia in 2024. For comparability purposes, EBITDA figure for 2025 is presented excluding EUR 13.7 million of restructuring costs, as disclosed in the APMs section.
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6 OPERATING MARGIN YEAR OVER YEAR CHANGE As percentage of sales 28.6% 30.1% 5% 15% 25% 35% FY 2024 FY 2025 +152 bps
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7 MAIN FIGURES, BY BUSINESS UNIT NEW PERIMETER, INCLUDING THE CONTRIBUTION OF VIDROPORTO AND EXCLUDING THE RESULTS OF VIDRALA ITALIA EUR million 740 714 632 574 199 178 FY 2024 FY 2025 SALES Iberia & Rest of EU UK & Ireland Brazil 222 231 146 135 81 75 FY 2024 FY 2025 EBITDA Iberia & Rest of EU UK & Ireland Brazil Average EUR/GBP exchange rate: 0.847 in FY 2024 vs 0.857 in FY 2025. Average EUR/BRL exchange rate: 5.810 in FY 2024 vs 6.294 in FY 2025. MANUAL
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8 CASH PROFILE FY 2025 FREE CASH FLOW GENERATION EUR million / as percentage of sales 30.1% 13.7% -12.9% -3.6% 0 100 200 300 400 500 EBITDA Capex WC & Others FCF 200.1
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9 NET DEBT QUARTERLY EVOLUTION, SINCE DECEMBER 2024 EUR million and times EBITDA Important: Debt figure and leverage ratio do not include the effect of IFRS 16 Leases. 248 289 215 150 105 0.6x 0.6x 0.5x 0.4x 0.2x 0,0x 2,0x 4,0x 6,0x 0 200 400 Dec-24 Mar-25 Jun-25 Sep-25 Dec-25
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Free Cash Flow EBITDA2 10 FY 2025 OUTLOOK REVIEW GUIDANCE SUBSTANTIALLY ACHIEVED FY 2025 outlook1 FY 2025 reported EUR 441 million Resilient results, despite a challenging market environment, underpinned by internal actions to further strengthen our competitiveness EUR 200 million Very strong cash generation, even after the execution of an ambitious organic capex plan amounting to almost 13% of sales ≈450 EUR million ≈200 EUR million 1. FY 2025 outlook reflected the company’s view of the market environment. The company noted that forecast ranges might not fully capture uncertainties related to macroeconomic conditions, trade policies, or supply chain disruptions, among other. The outlook was based on full-year average exchange rates of EUR/GBP 0.84 and EUR/BRL 6.20. 2. For comparability purposes, the EBITDA figure for 2025 is presented excluding EUR 13.7 million of restructuring costs, as disclosed in the APMs section.
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11 FY 2025 OUTLOOK REVIEW DETAILED ASSESSMENT OF EBITDA OUTLOOK COMPLIANCE EUR million -1.1% VS. GUIDANCE The official guidance announced in April was based on EUR/GBP at 0.84 and EUR/BRL at 6.20, as disclosed in the footnote. Exchange rates have moved unfavourably since then. Adjusting for this effect, EBITDA would have reached EUR 445 million. For comparability purposes, EBITDA figure is presented excluding EUR 13.7 million of restructuring costs, as disclosed in theAPMs section. FX impacts reflect the difference between the exchange rates assumed when setting the guidance and those actually realised during the year. 441 445+4 300 350 400 450 FY 2025 EBITDA FX impacts FY 2025 EBITDA, at guidance FX rates
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12 FY 2025 RESULTS | Main highlights MANUAL RESILIENT BUSINESS PERFORMANCE In a challenging market environment, we maintained disciplined execution and strategic clarity, adapting our industrial footprint and further enhancing cost competitiveness STRONG FREE CASH FLOW GENERATION A solid financial position, enabling us to accelerate investments while reinforcing our role as a reliable, long-term partner to our customers A BROADER BUSINESS PROFILE Selective international expansion, strengthening our presence in regions with solid fundamentals and long-term growth potential FACING THE FUTURE WITH DETERMINATION Our purpose remains unchanged: to serve our customers by delivering high-quality glass packaging and related services in a competitive, efficient and responsible manner
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VIDRALA, S.A. Investor Relations Tel: +34 94 671 97 50 investors@vidrala.com www.vidrala.com