Slides
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ODDO BHF Forum – January 2026 A major player in the distribution of special metals
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Annexes 1. A major player in the distribution of special metals
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Sales breakdown *Worldwide footprint Sales : €1.4bn as of 30.09.2025 (9 months) 3,336 employees - 119 distribution centers - 24 countries Germany 32% France 10% The Netherlands 7% Italy 8% Spain 7% Other Europe 26% Asia / Outside Europe 2% North America 8% Group overview * As of September 30, 2025 3/21
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JACQUET METALSSuppliers Added value 20 suppliers: ± 50% of purchases Delivery time: 2 to 12 months Purchase prices Storage of special metals Managing price fluctuations Finishing services Customers 65,000 customers Average invoice < €3,000 Delivery time ± 1 week 4/21
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Special metals 5/21
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JACQUET STAPPERT IMS group 3 divisions North America 34% Germany 8% Italy 8% Other Europe 23% Asia 6% Germany 42% France 6% The Netherlands 5% Other Europe 45% Outside Europe 2% Germany 38% France 13% Spain 12%Italy 11% The Netherlands 7% Other Europe 18% Sales breakdown * Stainless steel quarto plates Engineering metals Stainless steel long products c. €350m c. €400m €700m France 8% The Netherlands 7% Spain 6% Outside Europe 1% * As of September 30, 2025 6/21
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JACQUET STAPPERT IMS group Sectors Chemistry Agri-food industry Gas treatment and storage Pharmaceutical industry Environment Energy Defense Fabricated metal products Machinery & equipment Transportation Energy (wind turbines, etc.) Defense Quarto plates Engineering metals Long products Stainless steel 7/21
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Environmental responsibility Carbon footprint Recycling and circular economy 75% of Group’s supplies come from recycled metals Systematic recovery and recycling of metal scraps and consumables 8/21
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Key figures Market conditions: low demand and pressure on prices Sales €1,427m / -7.5% vs YTD.24 EBITDA €71m / 4.9% vs €61m / 3.9% in YTD.24 Gearing 26% vs 27% 2024 year-end CAPEX Volumes sold -2.3% vs YTD.24 €16m Net income (Group share) €9m Gross margin 23.5% vs 21.4% in YTD.24 Operating cash-flow €60m 9/21
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Annexes 2. Metrics as of September 30, 2025
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Results as of September 30, 2025 Activity & results (9 months) Sales In €m * * Acquisition : Commerciale Fond (March 2024) In % of sales In €m Gross margin EBITDA In €m In % of sales -2.3% -5.6% +0.4% -2.1% at constant scope OPEX In % of sales In €m 11/21 * * Q1.25 current operating expenses of the acquisition made in 2024 -€2.6m savings in Germany
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Operating cash-flow +€60m Operating cash-flow: +€60m In €m Gearing 26.1% Net operating WCR (of which inventories: €567m) Shareholders’ equity Net debt Provisions, provisions for employee benefit obligations & others Non-current assets (incl. goodwill €70m and real estate €179m) In €m 326 573 650 170 69 Lease obligations72Right-of-use 62 175 - 53 - 7 16 16 22 170 Net debt 31 dec.24 Operating cash-flow before change in WCR Change in WCR Capital expenditure Interest paid Rents, share buyback and others Net debt 30 sept.25 Cash-flow / Balance sheet as of September 30, 2025 12/21
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Maturity In €m Authorized at 30.09.2025 Used at 30.09.2025 % used 2025 and indefinite maturity 2026- 2027 2028- 2029 2030 and + Syndicated revolving loan 2028 160 - 0% - - - - Schuldsheindarlehen 2029 72 72 100% - - 72 - Schuldsheindarlehen 2030 80 80 100% - - - 80 Term loans 81 81 100% 7 43 28 3 Other lines of credit 125 29 23% 10 19 - - JACQUET METALS SA borrowings 518 262 50% 17 62 100 83 Operational lines of credit (letter of credit, etc.) 140 36 26% 36 - - - Factoring 44 0 1% 0 - - - Assets financing (term loans, etc.) 40 40 100% 3 19 12 7 Subsidiaries borrowings 224 77 34% 39 19 12 7 Total 742 339 46% 56 81 112 89 Borrowings as of September 30, 2025 The Group has €169m in cash and €742m in lines of credit of which 46% is used. 13/21
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Euronext Paris ISIN : FR0000033904