Slides
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Q3 2025/26 Results 05 February 2026
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1 OVERVIEW
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© Novem Group Public Page 305 February 2026 Q3 2025/26 key events ▪ Novem recorded total revenue of €117.9m (-5.0% y/y) amid continued headwinds ▪ Series business remained stable (+0.1% y/y), while revenue decline mainly stemmed from reduced Tooling due to project delays ▪ Top line impaired by fewer working days due to prolonged customer plant holidays over the turn of the year ▪ Adj. EBIT adversely hit by lower revenue, leading to a profit margin of 5.8% for the quarter under review ▪ Additional cost-saving initiatives in Germany introduced via voluntary severance schemes, visible in elevated adjustments ▪ Strong free cash flow of €21.3m outperformed PY (€1.3m), underpinning the Group’s ability to achieve a sound cash conversion ▪ Novem successfully acquired new business with a major US premium EV manufacturer and Porsche ▪ By the end of 2025, Novem achieved greenhouse gas neutrality in Germany, fully delivering on its climate commitment Performance remains under pressure, while strong cash conversion demonstrates resilience
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© Novem Group Public Q3 2025/26 financial highlights Revenue (€m) 124.0 Adj. EBIT (€m) Adj. EBIT margin (%) Net leverage (x Adj. EBITDA) Free cash flow (€m) Q3 2024/25 Q3 2025/26 117.9 10.0 6.8 8.1% 5.8% 1.3 2.1x 21.3 1.8x Page 405 February 2026
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© Novem Group Public YTD 2025/26 financial highlights Revenue (€m) 403.5 Adj. EBIT (€m) Adj. EBIT margin (%) Net leverage (x Adj. EBITDA) Free cash flow (€m) YTD 2024/25 YTD 2025/26 372.4 36.2 22.2 9.0% 6.0% 1.9 2.1x 38.5 1.8x Page 505 February 2026
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2 GROUP RESULTS Page 6
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© Novem Group Public 118.6 116.8 116.1 108.1 19.4 12.2 9.5 9.7 138.0 128.9 125.5 117.9 Q4 24/25 Q1 25/26 Q2 25/26 Q3 25/26 Revenue Series Revenue Tooling 108.0 108.1 16.0 9.7 124.0 117.9 Q3 24/25 Q3 25/26 Revenue Series Revenue Tooling Revenue 05 February 2026 Page 7 ▪ In Q3 2025/26, total revenue of €117.9m fell behind prior year by €-6.1m or -5.0% ▪ Top line was negatively affected by FX effects; revenue in Q3 would have been higher by €+5.5m or +4.7% at constant FX rates ▪ Revenue Series contributed 91.7% to total revenue and remained flat y/y despite extended year-end customer plant shutdowns ▪ Overall Series business remained almost unchanged, as ongoing weaker customer call-offs in Asia were compensated by stronger developments in Europe and Americas ▪ Latest publicly available data on the LVP market indicates a year- on-year increase of +1.1% for the period under review ▪ Revenue Tooling of €9.7m declined by -39.2% against prior year, mainly driven by a different project phasing ▪ On a twelve-month basis, total revenue recorded at €510.3m and showed a slight decline of -1.2% against last quarter Revenue (€m) Highlights LTM revenue (€m) 510.3 -5.0%
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© Novem Group Public 10.0 6.8 Q3 24/25 Q3 25/26 12.7 7.7 7.7 6.8 Q4 24/25 Q1 25/26 Q2 25/26 Q3 25/26 Adj. EBIT 05 February 2026 Page 8 ▪ Adj. EBIT in Q3 2025/26 declined by €-3.2m, resulting in a profit margin of 5.8% for the reporting period ▪ Operating result was affected by the continued poor top line, primarily driven by Asia; year-on-year development is impacted by prior year’s elevated income from others ▪ Additionally, bottom line was diluted by reduced Tooling business y/y due to different project phasing ▪ However, operational result benefited from positive one-time effects and favourable commercial items ▪ As stated previously, implemented cost control initiatives continue to support profitability ▪ Additional restructuring measures, such as a voluntary severance program in Germany, were embedded to provide further support ▪ LTM Adj. EBIT came in at €34.9m and therefore well below previous quarter by €-3.2m or -8.4% Adj. EBIT (€m) Highlights LTM Adj. EBIT (€m) -31.9% 34.9
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© Novem Group Public 26.6 1.3 15.8 21.3 Q4 24/25 Q1 25/26 Q2 25/26 Q3 25/26 1.3 21.3 Q3 24/25 Q3 25/26 Free cash flow 05 February 2026 Page 9 ▪ Free cash flow for the reporting period stood at €21.3m and showed an increase of €+20.0m compared to previous year ▪ Cash flow from operating activities of €23.6m was ahead of prior year by €+20.0m due to the following reasons: ▪ Decreased trade receivables (€+18.4m), lower cash paid for income taxes (€+6.1m), increased other liabilities (€+5.0m) as well as Others (€+3.6m); partly offset by higher inventories (€-6.6m) and lower trade payables (€-6.5m) ▪ Cash out-flow for investing activities amounted to €-2.3m, remaining stable at prior year’s level ▪ As a result, LTM free cash flow of €65.1m exceeded previous quarter by €+20.0m or +44.3% Free cash flow (€m) Highlights LTM free cash flow (€m) 65.1 >100%
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© Novem Group Public 4.5 1.8 2.4 3.6 Q4 24/25 Q1 25/26 Q2 25/26 Q3 25/26 3.5 3.6 Q3 24/25 Q3 25/26 Capital expenditure 05 February 2026 Page 10 ▪ In Q3 2025/26, capital expenditure of €3.6m remained at a similar level as previous year ▪ Based on a weaker top line, the underlying capex ratio rose slightly to 3.0% of revenue from 2.8% last year ▪ The largest part of capex was invested in Europe, amounting to €2.0m ▪ Majority of capital expenditure was growth-related, covering new projects as well as enhancements in production infrastructure ▪ Based on LTM revenue, capex ratio for the last twelve months remained unchanged at 2.4% compared to last quarter Capital expenditure (€m) Highlights LTM capital expenditure (€m) 2.9% 12.4
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© Novem Group Public 52.7 50.8 23.4 18.1 83.4 66.8 11.1 14.4 -27.5 -23.3 143.2 126.8 Q3 24/25 Q3 25/26 Inventories Receivables Tooling net Contract assets Payables 53.2 51.8 50.1 50.8 25.3 30.6 27.5 18.1 74.8 79.9 77.4 66.8 14.3 13.1 12.0 14.4 -43.8 -38.5 -29.8 -23.3 123.8 136.9 137.2 126.8 Q4 24/25 Q1 25/26 Q2 25/26 Q3 25/26 Inventories Receivables Tooling net Contract assets Payables ▪ As of 31 December 2025, total working capital stood at €126.8m and was -11.5% below last year (€143.2m) ▪ Variance of €+16.4m y/y came from lower tooling net (€+16.6m), trade receivables (€+5.4m) and inventory levels (€+1.9m); negatively affected by lower trade payables (€-4.2m) as well as higher contract assets (€-3.3m) ▪ Lower tooling net resulted from a decrease in tooling receivables and higher received tooling advance payments ▪ As a percentage of last-twelve-month revenue, total working capital recorded at 24.8% as of 31 December 2025 (25.9% PY) ▪ Trade working capital (w/o both tooling net and contract assets) developed positively from €48.7m to €45.6m y/y ▪ Reported in days outstanding, DSO of 27 (29 PY) and DIO of 42 (44 PY) improved, while DPO of 34 (39 PY) deteriorated Total working capital 05 February 2026 Page 11 Total working capital (€m) Highlights LTM total working capital (€m) -11.5%
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© Novem Group Public 1.8 2.0 2.0 1.8 Mar 25 Jun 25 Sep 25 Dec 25 303.5 290.5 -130.4 -169.9 173.1 120.6 Gross financial debt Cash and cash equivalents Dec 24 Dec 25 ▪ As of 31 December 2025, gross financial debt of €290.5m recorded €-13.0m below last year’s level of €303.5m ▪ Lease liabilities, by definition included in the gross financial debt, stood at €39.8m (€53.3m PY) ▪ Principal sources of funds included €169.9m cash (€130.4m PY) and €36.0m from non-recourse factoring (€36.3m PY) ▪ Net financial debt as of 31 December 2025 stood at €120.6m, marking an apparent reduction compared to prior year (€173.1m) ▪ Net leverage ratio of 1.8x Adj. EBITDA showed a favourable development versus prior year (2.1x) Capital structure 05 February 2026 Page 12 Net financial debt (€m) Highlights LTM net leverage ratio 2.1x 1.8x 288.5 305.5 -169.9 -134.4 118.7 171.2 Gross financial debt Cash and cash equivalents Jun 23 Jun 24
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3 RESULTS BY OPERATING SEGMENTS
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© Novem Group Public 57.2 55.2 41.7 48.7 70.0 61.4 68.5 60.5 10.7 12.3 15.4 8.7 138.0 128.9 125.5 117.9 Q4 24/25 Q1 25/26 Q2 25/26 Q3 25/26 Europe Americas Asia 50.7 48.7 60.3 60.5 13.0 8.7 124.0 117.9 Q3 24/25 Q3 25/26 Europe Americas Asia Revenue by operating segments 05 February 2026 Page 14 ▪ Geographically, revenue declined both in Europe and Asia, while Americas remained stable at prior year’s level ▪ Reduced revenue in Europe (€-2.1m y/y) was largely caused by differently phased Tooling business, while Series revenue showed growth y/y ▪ Slightly positive development in Americas (€+0.3m y/y) was supported by stronger Series sales, which was largely offset by weaker revenue Tooling ▪ Revenue in Asia (€-4.4m y/y) was negatively affected by Series business and predominantly resulted from ongoing soft call-offs for BMW X5 and MB E-class ▪ LTM revenue showed the following distribution across the regions: 51.0% Americas, 39.7% Europe and 9.2% Asia Revenue by region (€m) Highlights LTM revenue by region (€m) -5.0% 510.3
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© Novem Group Public -3.9 -3.3 -7.3 -6.1 16.7 10.4 15.0 11.7 -0.1 0.5 -0.0 1.2 12.7 7.7 7.7 6.8 Q4 24/25 Q1 25/26 Q2 25/26 Q3 25/26 Europe Americas Asia 1.7 -6.1 8.5 11.7 -0.2 1.210.0 6.8 Q3 24/25 Q3 25/26 Europe Americas Asia Adj. EBIT by operating segments 05 February 2026 Page 15 ▪ Adj. EBIT showed a sharp decrease in Europe, while Americas posted a moderate improvement and Asia exceeded prior year ▪ In Europe, Adj. EBIT of €-6.1m (€1.7m PY) remains negative due to lower revenue and an unfavourable product mix, while the y/y development is affected by increased income from others in PY ▪ In contrast, Americas achieved an Adj. EBIT of €11.7m (€8.5m PY), driven mainly by a leaner cost base, while lower revenue Tooling and adverse FX effects weighed on the result ▪ In Asia, Adj. EBIT improved to €1.2m (€-0.2m PY), benefitting from consistent fix cost management and lower input costs amid declining sales ▪ In Q3 2025/26, LTM Adj. EBIT declined by -8.4% from €38.1m to €34.9m compared to preceding quarter Adj. EBIT by region (€m) Highlights LTM Adj. EBIT by region (€m) -31.9% 34.9 75.8 60.6 60.6 50.6 72.3 60.1 74.5 75.1 23.7 18.1 14.5 14.4 171.9 138.7 149.7 140.1 Q2 23/24 Q3 23/24 Q4 23/24 Q1 24/25 Europe Americas Asia
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4 QUESTIONS & ANSWERS
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5 APPENDIX
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© Novem Group Public Profit and loss statement 05 February 2026 Page 18 Profit and loss statement (€m) Q3 2024/25 Q3 2025/26 YTD 2024/25 YTD 2025/26 Revenue 124.0 117.9 403.5 372.4 Increase or decrease in finished goods and work in process 3.1 1.9 5.6 2.4 Total operating performance 127.2 119.8 409.1 374.7 Other operating income 6.5 0.9 11.8 5.9 Cost of materials -64.3 -60.4 -204.4 -186.7 Personnel expenses -37.3 -33.4 -112.2 -105.3 Depreciation, amortisation and impairment -8.0 -7.6 -24.0 -23.3 Other operating expenses -14.0 -12.5 -44.0 -43.2 Adj. EBIT 10.0 6.8 36.2 22.2 Adjustments -0.2 -7.2 -3.1 -8.8 Operating result (EBIT) 9.8 -0.4 33.1 13.4 Finance income 1.2 3.0 3.7 22.0 Finance costs -14.2 -3.9 -24.9 -12.1 Financial result -13.0 -0.9 -21.2 9.9 Income taxes -4.4 -1.6 -9.0 -4.8 Deferred taxes 5.3 1.9 5.9 -1.2 Income tax result 0.8 0.3 -3.0 -5.9 Profit for the period -2.4 -1.0 8.8 17.4
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© Novem Group Public 31 Dec 2024 31 Dec 2025 31 Dec 2024 31 Dec 2025 Total equity 97.8 94.5 Intangible assets 2.9 2.6 Pensions and similar obligations 28.8 26.6 Property, plant and equipment 178.6 155.8 Other provisions 2.3 3.0 Trade receivables 44.0 39.3 Financial liabilities 249.2 - Other non-current assets 16.9 19.9 Other liabilities 52.0 39.1 Deferred tax assets 16.6 5.1 Deferred tax liabilities 1.3 2.9 Total non-current assets 259.0 222.6 Total non-current liabilities 333.5 71.7 Inventories 99.6 96.0 Tax liabilities 2.5 2.4 Trade receivables 41.4 27.0 Other provisions 34.9 32.5 Other receivables 22.1 14.3 Financial liabilities 1.0 250.7 Other current assets 13.6 12.4 Trade payables 31.4 24.0 Cash and cash equivalents 130.4 169.9 Other liabilities 65.0 66.4 Total current assets 307.2 319.7 Total current liabilities 134.9 376.1 Assets 566.1 542.3 Equity and liabilities 566.1 542.3 Balance sheet 05 February 2026 Page 19 Balance sheet (€m)
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© Novem Group Public Q3 2024/25 Q3 2025/26 YTD 2024/25 YTD 2025/26 Profit for the period -2.4 -1.0 8.8 17.4 Income tax expense (+)/income (-) 4.4 1.6 9.0 4.8 Financial result (+)/(-) net 13.0 0.9 21.2 -9.9 Depreciation, amortisation and impairment (+) 8.0 7.6 24.0 23.3 Other non-cash expenses (+)/income (-) -12.0 0.5 -3.9 16.3 Increase (-)/decrease (+) in inventories 5.0 -1.6 0.4 -2.5 Increase (-)/decrease (+) in trade receivables -0.7 17.7 3.0 14.2 Increase (-)/decrease (+) in other assets 2.9 5.3 5.2 7.1 Increase (-)/decrease (+) in deferred taxes -5.3 -1.9 -5.9 1.2 Increase (-)/decrease (+) in prepaid expenses/deferred income 1.1 -3.7 2.2 -0.7 Increase (+)/decrease (-) in provisions 0.5 4.7 -9.1 6.6 Increase (+)/decrease (-) in trade payables -3.4 -9.9 -12.0 -39.3 Increase (+)/decrease (-) in other liabilities 0.0 5.0 -13.0 3.0 Gain (-)/loss (+) on disposals of non-current assets - -0.0 0.0 0.0 Cash received (+) from/cash paid (-) for income taxes -7.8 -1.6 -18.7 1.7 Cash flow from operating activities 3.6 23.6 11.2 43.2 Cash flow statement 05 February 2026 Page 20 Cash flow statement (€m)
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© Novem Group Public Q3 2024/25 Q3 2025/26 YTD 2024/25 YTD 2025/26 Cash received (+) from disposals of property, plant and equipment - 0.0 0.0 0.1 Cash paid (-) for investments in intangible assets -0.2 -0.1 -0.5 -0.1 Cash paid (-) for investments in property, plant and equipment -3.3 -3.5 -12.5 -7.7 Interest received (+) 1.1 1.2 3.7 3.0 Cash flow from investing activities -2.3 -2.3 -9.3 -4.8 Cash paid (-) for lease liabilities -0.2 -1.9 0.8 -8.4 Interest paid (-) -4.0 -3.1 -13.1 -9.7 Cash flow from financing activities -4.2 -5.0 -12.3 -18.1 Net increase (+)/decrease (-) in cash and cash equivalents -2.9 16.3 -10.5 20.3 Effect of exchange rate fluctuations on cash and cash equivalents 0.8 0.3 -0.7 -0.5 Cash and cash equivalents at the beginning of the reporting period 132.4 153.4 141.5 150.1 Cash and cash equivalents at the end of the reporting period 130.4 169.9 130.4 169.9 Cash flow statement (cont’d) 05 February 2026 Page 21 Cash flow statement (€m)
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© Novem Group Public EBIT adjustments 05 February 2026 Page 22 EBIT adjustments (€m) Q3 2024/25 Q3 2025/26 YTD 2024/25 YTD 2025/26 Revenue 124.0 117.9 403.5 372.4 EBIT 9.8 -0.4 33.1 13.4 EBIT margin 7.9% -0.3% 8.2% 3.6% Restructuring 0.0 6.6 0.0 7.9 Single impairments - - 2.6 - Others 0.2 0.5 0.5 0.8 Exceptional items 0.2 0.5 3.1 0.8 Discontinued operations - - - - Adjustments 0.2 7.2 3.1 8.8 Adj. EBIT 10.0 6.8 36.2 22.2 Adj. EBIT margin 8.1% 5.8% 9.0% 6.0%
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© Novem Group Public Page 2305 February 2026 Definitions and basis of preparation of the financial information ▪ Adj. EBIT is defined as EBIT adjusted for certain adjustments which management considers to be non-recurring in nature, as Novem believes such items are not reflective of the ongoing performance of the business ▪ Adj. EBIT margin is defined as Adj. EBIT divided by revenue ▪ Adj. EBITDA is defined as profit for the year before income tax result, financial result and amortisation, depreciation and write-downs adjusted for certain adjustments which management considers to be non-recurring in nature, as Novem believes such items are not reflective of the ongoing performance of the business ▪ Adj. EBITDA margin is defined as Adj. EBITDA divided by revenue ▪ Capital expenditure is defined as the sum of cash paid for investments in property, plant and equipment and cash paid for investments in intangible assets excluding currency translation effects ▪ Cash conversion is defined as free cash flow divided by Adj. EBITDA ▪ Days inventory outstanding (DIO) is defined by dividing inventories (as shown in the consolidated statement of financial position, but excluding tooling) by revenue generated from the sale of series trim elements in the last three months ▪ Days payables outstanding (DPO) is defined by dividing trade payables (as shown in the consolidated statement of financial position, but excluding tooling) by net costs series incurred in the three months ▪ Days sales outstanding (DSO) is defined by dividing trade receivables (as shown in the consolidated statement of financial position, but excluding tooling) by revenue generated from the sale of series trim elements in the last three months ▪ EBIT is defined as profit for the year before income tax result and financial result ▪ EBITDA is defined as profit for the year before income tax result, financial result and amortisation and depreciation ▪ Free cash flow is defined as the sum of cash flow from operating and investing activities ▪ Gross financial debt is defined as the sum of liabilities to banks and lease liabilities ▪ Net financial debt is defined as gross financial debt less cash and cash equivalents ▪ Net leverage ratio is defined as the ratio of net financial debt to Adj. EBITDA ▪ Tooling net is defined as all costs and revenue related to tools, tool development and prototypes as well as pre-series business ▪ Total operating performance is defined as the sum of revenue and increase or decrease in finished goods ▪ Total working capital is defined as the sum of inventories, trade receivables and contract assets excluding expected losses less trade payables, tooling advance payments received and other provisions related to tooling ▪ Trade working capital is defined as the sum of inventories non-tooling and trade receivables related to non-tooling less trade payables related to non-tooling
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© Novem Group Public Page 2405 February 2026 Further information and disclaimer Date of publication 05 February 2026 Contact investor.relations@novem.com | All information is constantly updated and available. Please visit the Investor Relations Portal on the Company website: https://ir.novem.com Editor Novem Group S.A. | 19, rue Edmond Reuter | 5326 Contern | Luxembourg | www.novem.com Financial information This presentation contains unaudited financial information for Novem, which may be subject to change. Disclaimer Novem Group S.A. (the “Company”, “Novem”) has prepared this presentation solely for your information. It should not be treated as giving investment advice. Neither the Company, nor any of its directors, officers, employees, direct or indirect shareholders and advisors nor any other person shall have any liability whatsoever for any direct or indirect losses arising from any use of this presentation. While the Company has taken all reasonable care to ensure that the facts stated in this presentation are accurate and that the opinions contained in it are fair and reasonable, this presentation is selective in nature. Any opinions expressed in this presentation are subject to change without notice and neither the Company nor any other person is under any obligation to update or keep current the information contained in this presentation. Where this presentation quotes any information or statistics from any external source, you should not interpret that the Company has adopted or endorsed such information or statistics as being accurate. This presentation contains forward-looking statements, which involve risks, uncertainties and assumptions that could cause actual results, performance or events to differ materially from those described in, or expressed or implied by, such statements. These statements reflect the Company’s current knowledge and its expectations and projections about future events and may be identified by the context of such statements or words such as “anticipate”, “believe”, “estimate”, “expect”, “intend”, “plan”, “project” and “target”. No obligation is assumed to update any such statement. Numbers were rounded to one decimal. Due to rounding, the numbers presented may not add up precisely to the totals provided.
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Novem Group S.A. 19, rue Edmond Reuter | 5326 Contern | Luxembourg Email: investor.relations@novem.com www.novem.com