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Cembre Investor Presentation 2024

Sep 13, 2024

4425_ip_2024-09-13_d9de7716-ec8b-49e2-a7cb-b14cbdb3c672.pdf

Investor Presentation

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Investor presentation

Results of the First Half 2024

CEMBRE | Investor relations

CONTENTS

CEMBRE AT A GLANCE

  • CEMBRE is Europe's leading manufacturer of electrical crimp type connectors and related installation tools.
  • The Group has grown its revenues by a CAGR of 6.8% in the last 20 years (2003-2023), from 59.9 M€ in 2003 to 222.6 M€ in 2023. In the last 5 years the Group has grown by a CAGR of 9.1% (2018-2023).
  • It is a dividend payer with a 20 years average dividend payout ratio of 50.2%, and an average dividend yield of 3.8% (2004-2023). The average dividend yield in the last 5 years has been of 4.3% (2019-2023).
  • In 2023, the Group invested 14.6 M€; the total amount of investments made by the company in the last five years (2019-2023) is 55.5 M€; at December 31, 2022 investments amounted to 12.3 M€.
  • The product mix (a total of around 18K end products sold during 2023) is offered to around 5K single clients around the world, with 10-biggest clients' purchases corresponding to approximately 22.3% of the consolidated turnover.

2021/02

MISSION

4

CEMBRE cooperates with the users of its products to search the best technical and economical solutions related to electrical connection applications

CEMBRE | Investor relations

  • Giovanni Rosani President of the board Chief Executive Officer (CEO)
  • Aldo Bottini Bongrani Vice President of the board M&A and Special Projects
  • Claudio Bornati Chief Financial Officer (CFO)
  • Felice Albertazzi

Member of the board Chief Sales & Marketing Officer (CSMO)

Franco Celli

Member of the board Chief Operating Officer (COO)

GROUP STRUCTURE

Manufacturing and trading unit Trading unit

The Group employs 891 employees worldwide (at June 30, 2024)

R&D

•26

how strong

Manufacturing & logistics •511

Sales & Marketing •250

Administration & services •104

CEMBRE has extensive knowin its operating field and its R&D team allows it to respond quickly to market demands.

Sharp focus on customer needs and the efficient international sales network (153 salesmen) are significant competitive advantages for CEMBRE.

CEMBRE is Europe's leading manufacturer of electrical crimp type connectors and related installation tools

APPLICATIONS: RAILWAY

17,995 different products sold in one year*

5.1 Millions electrical connectors sold by CEMBRE Group on average each working day*

19,515 different products ready for immediate delivery*

NUMBERS

11

*12/2023

CEMBRE | Investor relations

MADE IN BRESCIA

CEMBRE has been established in 1969 and manufactures its products in its state-of-art production facility located in Brescia.

The facility covers an area of 60,000 m2 on a total land area of 121,000 m2.

CEMBRE S.p.A. – Headqquarter in Brescia (Italy)

In addition, CEMBRE has a production facility in the UK which operates on a 16,300 m2 land.

This plant in Birmingham manufactures mainly for the local market.

The sales generated in the UK are 11,9% of the consolidated turnover of the first half 2024.

CEMBRE Ltd. – Factory in Curdworth Birmingham (UK)

VERY STRONG IN EUROPE

CEMBRE is present all over the Italian territory through a network of salesmen and representatives who are able to offer fast and constant technical assistance.

Abroad, it operates through 4 subsidiaries in Europe (UK, France, Spain and Germany) and 1 in the USA.

Group companies

Regional offices

Main importers

… PRESENT ALL OVER THE WORD

CEMBRE has a network of importers and agents who provide technical and commercial assistance and rapid delivery worldwide

REVENUES BREAKDOWN before commercial rebates by product family (€'000)

1st Half 2023

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1stHalf 2024

GEOGRAPHICAL REVENUES BREAKDOWN

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CONSOLIDATED RESULTS OF THE FIRST HALF 2024

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GROUP'S COMPANIES TURNOVER* OF THE FIRST HALF 2024

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* net of intragroup sales

JUNE 30, 2024 CONSOLIDATED BALANCE SHEET

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REVENUES EVOLUTION

CEMBRE'S REVENUES AND PROFITABILITY TREND (€ '000)

Ebitda (value and margin % on sales)

CEMBRE'S REVENUES AND PROFITABILITY TREND (€ '000)

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

0

0,0%

CEMBRE'S REVENUES AND PROFITABILITY TREND(€ '000)

ROE (Net profit/Equity)

14,87%

13,52%

11,60%

14,37%

19,85%

16,97%

12,30%

15,88%

ROS (EBIT/Net Sales)

8,13%

4,00%

8,00%

12,00%

16,00%

20,00%

24,00%

12,54%

15,69%

17,83%

15,19%

9,06%

13,23%

12,24%

11,28%

9,59%

11,29%

12,15%

INVESTMENTS TREND

€
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2024 AND ONWARDS

CEMBRE focused on these targets:

Business development thanks to:

  • A strengthening of CEMBRE competitive advantage by developing new products and continuous product range renewing by an intense R&D activity
  • Improvement of the distributor channel in foreign countries
  • An higher penetration in the foreign markets, especially in the US and Germany
  • A commercial commitment focus on high growing potential products

Cost management by a better operative efficiency obtained from economies of scale and process innovations;

Enforcing the manufacturing structure by investing in high-tech, highlyautomated machinery.

The automated warehouse, located in a 4,800 m 2 industrial building built in 2012, has been operating from January, 2013.

In January 2023, the project to expand the

was approved for a maximum investment of

contributions for a maximum of €4.9 million.

€42 million, which provides for non-repayable

SpA

headquarters

production capacity of "Electrical

Connectors" at the Cembre

2024 AND ONWARDS

Future facilities for the production of electrical connectors

Automated warehouse

2024 E OLTRE

In 2023, work began on the construction of two new industrial buildings for a total of 15,000 m 2.

STOCK DATA & SHAREHOLDING STRUCTURE

Cembre FTSE Italia Star data updated at September 5, 2024

Cembre has been listed since December 1997, and is a part of the Star Index since September 2001.

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%		 4.
8
%
3		 4.
8
%		 3.
5
%		 4.
5
%		 4.
8
%

Using consolidated profit 2

Using the year-end share price

SHARE PRICE EVOLUTION

200
3		 200
4		 200
5		 200
6		 200
7		 200
8		 200
9		 20
10		 20
11		 20
12		 20
13		 20
14		 20
15		 20
16		 20
17		 20
18		 20
19		 20
20		 20
21		 20
22		 20
23		 20
24
A)
Sh
ice
1
are
pr		 8
2.6		 2.9
9		 4.7
5		 6.1
2		 6.2
5		 3.3
0		 4.6
6		 6.2
5		 5.4
5		 6.3
4		 8.9
9		 10.
21		 13.
90		 13.
90		 21
.60		 20
.25		 24
.00		 18.
85		 34.
20		 30.
70		 37.
20		 37.
90
²
Ch
in s
ha
ice
an
ge
re
pr		 41
.1%		 11.
6%		 58
.9%		 28
.8%		 2.1
%		 -47
.2%		 41
.2%		 34.
1%		 -12
.8%		 16.
3%		 41
.8%		 13.
6%		 36.
1%		 0.0
%		 55
.4%		 -6.
3%		 18.
5%		 .5%
-21		 .4%
81		 .2%
-10		 .2%
21		 %
1.9
Re
ive
d
div
ide
nd
ce		 0.0
8		 0.0
7		 0.1
0		 0.1
5		 0.2
2		 0.2
6		 0.1
6		 0.1
2		 0.2
6		 0.1
6		 0.1
6		 0.2
6		 0.3
6		 0.4
6		 0.7
0		 0.8
0		 0.9
0		 0.9
0		 0.9
0		 1.2
0		 1.4
0		 1.8
0
B)
Ac
ed
eiv
ed
cru
rec
div
ide
nd
s		 0.1
8		 0.2
5		 0.3
5		 0.5
0		 0.7
2		 0.9
8		 1.1
4		 1.2
6		 1.5
2		 1.6
8		 1.8
4		 2.1
0		 2.4
6		 2.9
2		 3.6
2		 4.4
2		 5.3
2		 6.2
2		 7.1
2		 8.3
2		 9.7
2		 11.
52
(
B)
Sh
tur
A+
are
re
n		 2.8
6		 3.2
4		 0
5.1		 2
6.6		 6.9
7		 4.2
8		 5.8
0		 7.5
1		 6.9
7		 8.0
2		 10.
83		 12.
31		 36
16.		 82
16.		 25
.22		 24
.67		 29
.32		 25
.07		 41
.32		 39.
02		 46
.92		 53
.42
Pric
ta
e q
uo		 93
.7%		 92
.3%		 93
.1%		 92
.4%		 89
.7%		 77.
1%		 80
.3%		 83
.2%		 78.
2%		 79.
1%		 83
.0%		 82
.9%		 85
.0%		 82
.6%		 85
.6%		 82
.1%		 81
.9%		 2%
75.		 .8%
82		 7%
78.		 3%
79.		 4%
78.
Div
ide
nd
ota
qu		 %
6.3		 %
7.7		 %
6.9		 %
7.6		 3%
10.		 .9%
22		 7%
19.		 8%
16.		 .8%
21		 .9%
20		 0%
17.		 1%
17.		 0%
15.		 4%
17.		 4%
14.		 17.
9%		 18.
1%		 24
.8%		 17.
2%		 21
.3%		 20
.8%		 21
.5%

¹ at the end of the year 2 at September 4, 2024

Claudio Bornati

CFO & IR

Via Serenissima 9 • 25135 Brescia (BS) ITALY ph. +39 030 36921 [email protected] cembre.com

The manager responsible for preparing the Company's financial reports, Claudio Bornati, declares, pursuant to paragraph 2 of Article 154 bis of the Consolidated Law on Finance, that the accounting information contained in this presentation corresponds to the document results, books and accounting records.

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