Slides
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H1 2026 results – September 10th, 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 LTM: €1.9bn 3,290 employees - 120 distribution centers - 23 countries Germany 30% France 10% The Netherlands 7% Italy 8% Spain 7% Other Europe 27% Asia / Others 2% North America 9% Group overview 3/23 * As of June 30, 2026
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JACQUET** STAPPERT IMS group 3 divisions North America 38% Germany 8% France 7% Other Europe 21% Asia 6% Germany 41% France 5% The Netherlands 5% Other Europe 47% Outside Europe 2% Germany 35% France 14% Spain 12% Italy 12% The Netherlands 8% Other Europe 19% Sales breakdown* c. €500m c. €500m c. €900m Italy 7% The Netherlands 7% Spain 6% Outside Europe 0% Stainless steel quarto plates Engineering metals Stainless steel long products • Breakdown as of June 30, 2026 • Including sales of Energy Steel Products over 12 rolling months. 4/23
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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 5/23
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Key figures Market conditions Sales €1,001m / +1.4% vs H1.25 EBITDA €60m / 6.0% vs €48m / 4.9 % in H1.25 Gearing 21% stable vs 2025 year-end CAPEX (excluding external growth) Volumes sold +1.5% vs H1.25 €30m Net income (Group share) €22m Gross margin 25.1% vs 23.6% in H1.25 6/23
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7/22 Organic growth Projects China (Chengdu) 2026 Illustration Canada (Montreal) 2026 Spain (Zaragoza) Illustration Illustration
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External growth (Spain) May 2026 Aluminium distribution 8/23
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External growth (USA) September 2026 9/23 Distribution of stainless steel long products 2 US distribution centers (Houston and Chicago)
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Annexes 2. H1 2026 results
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Price effectVolume effect H1.26 vs H1.25 y.o.y. y.o.y. Sequential Sales +€14m / +1.4% In €m -2.3% +2.3%-1.3%-1.7%-0.9% 11/23 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 -5.7% -2.2% +2.1% +2.9% +0.8% +2.3% +3.2% 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 +1.5% -0.3% +0.2% *Acquisition : SABATER Fundimol (May 2026) *
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28% 47% 25% JACQUET STAPPERT IMS group 12/23 Sales by division In €m 273 277 H1.25 Volume effect Price effect H1.26 233 255 H1.25 Volume effect Price effect H1.26 +10.1 % -0.6 % +9.5 % (Q2 +17.3 %) +1.6 % (Q2 +5.6 %) +4.7 % -3.1 % In €m 488 476 H1.25 Volume effect Price effect Scope effect H1.26 -2.6 % (Q2 -1.7 %) *Acquisition : SABATER Fundimol (May 2026) * -4.4 % +1.5 % +0.4 %
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Divisions In €m In % of sales JACQUET STAPPERT IMS group In % of sales In €m Gross margin €251m (25.1% of sales) 232 251 H1.25 H1.26 23.6% 25.1% 65 79 H1.25 H1.26 31.1%28.0% 58 60 H1.25 H1.26 21.5%21.1% 109 112 H1.25 H1.26 23.6%22.4% 13/23 +€19m
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In €m In % of sales Current operating expenses excluding depreciation and amortization and provisions €191m / 19.1% of sales +3.6% at constant scope* 14/23 Of which savings in Germany of -€2m Of which variable remuneration +€3m * *Current operating expenses of the acquisition made in May 2026
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Adj. operating income by division In €m In €m In % of sales JACQUET STAPPERT IMS group In % of sales Adj. operating income €40m (4.0 % of sales) In €m In % of sales Operating margins EBITDA 6.0% of sales vs 4.9% H1.2025 EBITDA €60m (6.0% of sales) -€0m +€2m+€10m +€12m +€11m Var. H1.26 vs H1.25 15/23 3.3 % 4.9 % 1.3 % 7.0 % 4.8 % 1.7 %
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In €m H1.25 H1.26 Sales 987 1,001 EBITDA 48.3 60.3 in % of sales 4,9% 6,0% Adjusted operating income 28.9 40.3 in % of sales 2.9% 4.0% Non-recurring items and gains on disposals 0.1 3.2 Operating income 29.0 43.6 Financial result (11.7) (9.5) Corporate income tax (10.0) (9.7) Income tax rate 57.9% 28.6% Minority interests (0.9) (1.9) Net income (Group share) 6.4 22.5 Income statement Net income (Group share) €22m 16/23 Mainly linked to the disposal of a site in Germany
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Cash flow / Balance sheet as of June 30, 2026 Gearing 21.1% In €m In €m Operating cash flow +€54m Non-current assets (incl. goodwill €73m and real estate €192m) Net operating WCR (of which inventories: €590m) Shareholders’ equity Net debt Provisions, provisions for employee benefit obligations & others Lease obligationsRight-of-use Operating cash flow: +€54m 17/23 344 565 677 143 81 7264
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Maturity In €m Authorized at 30.06.2026 Used at 30.06.2026 % used 2026 and indefinite maturity 2027- 2028 2029- 2020 2031 and + Syndicated revolving loan 2028 160 - 0% - - - - Schuldsheindarlehen 2029 72 72 100% - - 72 - Schuldsheindarlehen 2030 80 80 100% - - 80 - Term loans 80 80 100% 14 41 24 1 Other lines of credit 129 35 27% 12 23 - - JACQUET METALS SA borrowings 521 267 51% 26 64 176 1 Operational lines of credit (letter of credit, etc.) 134 25 19% 20 5 - - Factoring 44 1 3% 1 - - - Assets financing (term loans, etc.) 28 28 100% 4 16 4 5 Subsidiaries borrowings 206 55 27% 25 21 4 5 Total 727 322 44% 51 85 179 6 The Group has €179m in cash and €727m in lines of credit of which 44% is used. 18/23 Borrowings as of June 30, 2026
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Appendices
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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 20/23
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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 21/23
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In €m H1.25 H1.26 Sales 987 1,001 Gross margin 232 251 in % of sales 23.6 % 25.1 % Current operating expenses (184) (191) Net depreciation and amortization (22) (21) Net provisions 2 1 Gains on disposals of non-current assets 0 3 Other non-current income and expenses - - Operating income 29 44 Financial result (12) (10) Income before tax 17 34 Corporate income tax (10) (10) Consolidated net income 7 24 Net income (Group share) 6 22 Earnings per share in circulation (€) 0.30 1.07 Income statement 22/23
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In €m 31.12.25 30.06.26 Goodwill 70 73 Net non-current assets 254 271 Right-of-use assets 66 64 Net inventory 569 590 Net trade receivables 186 274 Other assets 98 99 Cash & cash equivalents 179 179 Total assets 1,421 1,550 Shareholders’ equity 654 677 Provisions (incl. provisions for employee benefit obligations) 79 77 Trade payables 217 299 Borrowings 319 322 Other liabilities 78 102 Lease liabilities 74 72 Total equity and liabilities 1,421 1,550 Balance sheet 23/23
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Euronext Paris ISIN : FR0000033904