Slides
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Q4 2024 REVENUE 29 JANUARY 2025
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DISCLAIMER 2 This presentation, the presentation materials and discussion may contain certain forecasts, projections and forward-looking statements – that is statements related to future, not past, events – in relation to, or in respect of, the financial condition, operations or businesses of Solutions 30 SE. Any such statements involve risk and uncertainty because they relate to future events and circumstances. There are many factors that could cause actual results or developments to differ materially from those expressed or implied by any such forward looking statements, including, but not limited to, matters of a political, economic, business, competitive or reputational nature. Nothing in this presentation, the presentation materials and discussion should be construed as a profit estimate or profit forecast. Solutions 30 SE does not undertake any obligation to update or revise any forward-looking statement to reflect any change in circumstances or expectations. In the following slides, figures have been rounded to the nearest whole number or the nearest decimal. Therefore, the sum of the numbers may not conform exactly to the total figure or to 100%.
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3 TODAY’S PRESENTERS Gianbeppi Fortis Chief Executive Officer Amaury Boilot Group General Secretary
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Gianbeppi Fortis, CEO Q4 2024 Overview 4
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Q4 revenue: € 251.8m down -12.4%, reflecting the continuation of previous quarters’ trends • Q4 2023: high comparison basis • Selectivity measures in telecom sectors in France and Spain • Reduced fiber activity in Belgium due to ongoing negotiations between telecom service providers and merger of two local customers • Strong growth in Germany (+51%) and in Energy activities (+30%) HIGHLIGHTS 5 FY2024 revenue: € 994.6m, down -5.9% reflecting the Group’s strategy to prioritize margins over revenue growth • Controlled decrease in our most mature markets Full-year margin outlook confirmed • Increase in Group adjusted EBITDA despite the decrease in revenue Continued strong focus on Solutions30’s profitable growth drivers • Germany emerging as Group’s top performing market: revenue up +34% in FY24 • Continued expansion of Energy activities: revenue up +29% in FY24
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9M 2023 Benelux - Organic France - Organic Other Countries -… Acquisitions FX Revenue - 2023 6 FY23 revenue FY24 revenue Benelux France Other Countries Acquisitions 1057.0 994.6 -44.5 -10.6 In millions of euros -13.5 +2.5 € -62.4m (-5.9%) Organic change: € -68.6m (-6.5%) -2.8% -11.0% -5.0% -5.9% REVENUE DECREASE IN 2024 REFLECTING PRIORITY GIVEN TO MARGINS FX +3.8
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Q2 2023 Connectivity Tech Energy Revenue - 2023 7 FY23 revenue FY24 revenue Connectivity Technology Energy 1057.0 994.6+6.1 In millions of euros +34.0 € -62.4m (-5.9%) -12.3% +5.9% +28.5% SELECTIVITY IN CONNECTIVITY, CONTINUED EXPANSION IN ENERGY REBALANCING OUR MIX -102.5 FY24 revenue breakdown TechnologyConnectivity Energy 110.1 11% 153.6 15% 730.9 74% Total: € 994.6m
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255,3 263,8 250,7 287,2 265,0 252,0 225,4 251,8 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q4 REFLECTING CONTINUATION OF PREVIOUS QUARTERS’ BUSINESS TRENDS 8 € 251.8 m Q4 2024 Revenue -12.4% vs. Q4 2023 (-12.9% organic) Quarterly Group revenue in €m ▪ High comparison basis: record revenue in Q4 2023 ▪ Selectivity measures in telecom sectors in France and Spain ▪ Temporarily reduced fiber activity in Belgium ▪ Strong growth in Germany and in Energy activities
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9 In millions of euros FURTHER MIX REBALANCING Q2 2023 Connectivity Tech Energy Revenue - 2023Q4 2023 revenue Q4 2024 revenue Connectivity Technology Energy +8.2 +10.8 € -35.5m (-12.4%) Organic: € -37.2m (-12.9%) -24.2% +31.8% +30.0% -54.5 251.8 287.3 78% 79% 79% 78% 76% 76% 74% 68% 11% 10% 9% 9% 10% 10% 11% 13% 11% 11% 11% 13% 14% 14% 15% 19% Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 In % of revenue Q4 revenue bridge Energy now 19% of revenue TechnologyConnectivity Energy
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Q4 2024 Details per region and activity Amaury Boilot, Group General Secretary
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BENELUX: FIBER ACTIVITIES STILL REDUCED IN Q4 MARKET POTENTIAL INTACT 11 Connectivity EnergyTechnology 90,5 67,3 5,4 9,0 16,1 16,4 Q4 2023 Q4 2024 Energy +1.8% 112.0 92.7 Connectivity -25.6% Technology +67.2% -17.2% Connectivity: fiber activities remain slowed down ▪ Ongoing negotiations between telecom service providers on possible streamlining of fiber deployment causing significant delays ▪ Acquisition of Fiberklaar by Proximus resulting in adjustment of home connect operational processes, still under discussion ▪ Market potential intact Energy: slight growth in Q4 ▪ Smart meters roll-out in Flanders plateauing ▪ Continued rollout in Wallonia and ramp-up of grid services to sustain momentum in coming quarters ▪ Energy activities slowing down in the NL due to grid congestion, which will lead to additional grid investments Technology: strong momentum ▪ Roll-out of new IT support contract Revenue figures are expressed in millions of euros; % represent year-on-year revenue growth, including organic and inorganic variations
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FRANCE: REBALANCING OUR MIX ENERGY NEARLY 30% OF FRANCE REVENUE IN Q4 12 Revenue figures are expressed in millions of euros; % represent year-on-year revenue growth, including organic and inorganic variations Connectivity EnergyTechnology 73,1 45,2 15,6 19,3 16,9 26,0 Q4 2023 Q4 2024 Energy +53.9% 105.6 90.5 Connectivity -38.2% Technology +23.7% -14.3% Connectivity: reducing exposure to mature fiber market ▪ Impact of selectivity measures implemented in Q2 to exit or reduce exposure to least profitable contracts ▪ Prioritizing margins over volume ▪ Slowdown in fiber deployment market Energy: accelerating growth ▪ Major growth driver for Solutions30 in France, notably in solar, up +72% in Q4 ▪ Good momentum in energy networks activities (electricity, gas): +61% Technology sustaining strong momentum ▪ Robust trends in IT assistance ▪ Strong growth in IoT solutions (smart thermostats)
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OTHER COUNTRIES GERMANY CONTINUES TO DELIVER OUTSTANDING GROWTH 13 In millions of euros 16,2 24,6 Q4 2023 Q4 2024 +51.3% Germany 14,2 15,1 Q4 2023 Q4 2024 +6.4% Poland 13,5 14,5 Q4 2023* Q4 2024 +6.2%* Italy 13,0 7,3 Q4 2023 Q4 2024 -44.1% Spain 10,1 7,2 Q4 2023 Q4 2024 -28.4% UK ▪ Germany: outstanding market momentum, with fiber ramp-up and high activity levels in coax; Solutions30 well positioned to play a key role in the acceleration of roll-out activities ▪ Poland: continued growth, successful inroads in EV charging market ▪ Italy: renewed growth in fiber activities* ▪ Spain: drastic selectivity and restructuring in mature Connectivity activities; development focused on Energy and Technology ▪ UK: Refocusing on fiber and energy in progress under the helm of new local management Total revenue: € 68.6m in Q4 2024, down -1.6% * Excluding positive €2.7 m impact of negotiations with the main Italian customer, relative to the full year of 2023, but recorded solely in Q4 2023, therefore distorting the comparison. Including this adjustment, Q4 2023 revenue in Italy was € 16.1m, resulting in a -10.6% apparent decrease in Q4 2024
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Gianbeppi Fortis, CEO OUTLOOK
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15 2024 FULL-YEAR MARGINS OUTLOOK CONFIRMED Improvement in Group adjusted EBITDA margin Ability to improve our profitability year after year Increase in Group adjusted EBITDA Despite the revenue decrease Relevance of our selectivity strategy in 2024 2024 Full-Year Results: 31 March 2025
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16 Q&A PLEASE TYPE IN YOUR QUESTION BY USING THE BUTTON ON THE READER
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Appendix
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9M 2023 Benelux - Organic France - Organic Other Countries -… Acquisitions FX Revenue - 2023 18 Q4 2023 revenue Q4 2024 revenue Benelux France Other Countries Acquisitions 287.3 251.8 -15.1 -19.7 In millions of euros -2.4 +0.4 € -35.5m (-12.4%) Organic change: € -37.2m (-12.9%) -17.6% -14.3% -3.4% Q4 REVENUE BRIDGE FX +1.3
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