KILBURN ENGINEERING LTD.

Corporate office: 501, 5th floor, I-Think Techno Campus, Jolly Board Tower No.1, Kanjurmarg (East), Mumbai 400 042, Maharashtra, INDIA.
Tel No.: +91 22 6551 0300 Website: www.kilburnengg.com Email: [email protected]

Date: 27th May, 2026

To
The Corporate Relationship Department
BSE Limited
1st Floor, P.J. Tower
Dalal Street, Fort
Mumbai-400 001
Scrip Code: BSE 522101

Sub: Investors' Presentation

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed an Investor Presentation – Q4 FY26 on the Audited Financial Results (Standalone and Consolidated) of the Company for the quarter and financial year ended 31st March 2026.

The presentation is being made available on the website of the Company i.e. www.kilburnengg.com.

This is for your information and record.

Thanking you,

Yours sincerely,

For Kilburn Engineering Limited

Abhijit
Shevantilal Mehta

Abhijit Mehta
Company Secretary & Compliance Officer

Encl: A/a

AN ISO - 9001:2015 CERTIFIED COMPANY
CIN: L24232WB1987PLC042956
Registered office: 1901, 19th Floor, Biowonder - Block A, 789, Anandapur, Eastern Metropolitan Bypass, Kolkata - 700 107, INDIA. Tel no.: +91 33 6904 5700
Saravali Works: Plot No. 6, MIDC - Saravali, Kalyan Bhiwandi Road, Taluka Bhiwandi, Dist. Thane - 421 311, Maharashtra, INDIA. Tel No.: +91 2522 663800 / 283000.
Ambarnath Works: Plot No. B-78/1, Anand Nagar, Additional MIDC, Ambernath (East), Dist. Thane - 421 506, Maharashtra, INDIA.

KILBURN ENGINEERING LTD

Investor Presentation
Q4 & FY26

DISCLAIMER

This presentation has been prepared by and is the sole responsibility of Kilburn Engineering Limited ( herein after referred to as “KEL” or “the Company”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions.

This presentation does not constitute or form part of any offer or invitation or inducement to sell or issue, or any solicitation of any offer or recommendation to purchase or subscribe for, any securities of the Company, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contractor commitment thereof. In particular, this presentation is not intended to be a prospectus or offer document under the applicable laws of any jurisdiction, including India. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. There is no obligation to update, modify or amend this communication or to otherwise notify the recipient if the information, opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

INVESTOR PRESENTATION

KILBURN ENGINEERING: HIGH VALUE PROCESS SOLUTIONS COMPANY

Leveraging process-engineering expertise across energy transition, industrial capex, chemicals, nuclear and global manufacturing diversification with improving profitability and scalable growth opportunities

Key Pillars

INVESTOR PRESENTATION

KILBURN'S STRATEGIC STRENGTHS & GROWTH CATALYSTS

Designing & Manufacturing critically customized process packages of exceptional quality for diverse industries worldwide.

Strategic Levers

Technology Synergies from Acquisitions (Thermal, WHR, RF Drying, Sheet Metal Fabrication

Export and New Sector Penetration (Pharma, Cement, Food Processing)

Margin Accretion via Integration and Cost Efficiencies

Strong Balance Sheet & Professional Execution Team

Niche Market Leadership

Customised solutions (Solid/Liquid/Gas) for critical sectors like Nuclear, Pharma, Chemicals, Petrochemicals, etc.

Global Footprint

Export presence across USA, France, Germany, the Netherlands, China, Indonesia, Hungary, Thailand, Kenya, South Africa, Brazil and Bangladesh, among others

Years of Rich Experience

40+

Installations Globally

3,000+

Workforce

200+

Sectors Catered by Products & Solutions

15+

INVESTOR PRESENTATION

CONSISTENT GROWTH

Financial Performance & Highlights (Consolidated)
(₹ In Million)

Total Income from Operations (₹)

Operating EBITDA (₹)

Profit Before Tax (₹)

Net Profit (₹)

EBITDA Margin (%)

Net Profit Margin (%)

INVESTOR PRESENTATION

FINANCIAL METRICS

Quarterly Income Statement (Consolidated)

Particulars (R Mn)	Q4FY26	Q3FY26	Q4FY25	YoY%	FY26	FY25	YoY%
Total Income from Operations	1,966.0	1,589.3	1,278.0	53.8	6,432.9	4,276.2	50.4
Total Expenditure	1,514.8	1,206.9	911.3	66.2	4,816.6	3,227.5	49.2
EBITDA	451.2	382.7	366.7	23.0	1,616.3	1,048.6	54.1
EBITDA Margin (%)	23.0	24.1	28.7	-574 bps	25.1	24.5	+60 bps
Other income	-	-	-	-	12.2	-	-
Depreciation	29.4	30.0	25.6	14.8	116.6	73.3	58.9
EBIT	421.8	352.7	341.1	23.7	1,511.9	975.3	55.0
Interest	51.2	32.7	47.0	9.0	150.6	148.7	1.3
Profit Before Tax	370.6	320.0	294.1	26.0	1,361.3	826.6	64.7
Tax	122.0	88.4	90.0	35.6	399.3	202.7	96.9
Profit After Tax	248.6	231.6	204.1	21.8	962.0	623.9	54.2
PAT Margin (%)	12.6	14.6	16.0	-333 bps	15.0	14.6	+36 bps
Reported Earnings Per Share (Rs)	4.91	4.63	4.56	7.7	19.02	13.94	36.4

INVESTOR PRESENTATION

MULTI-SECTORAL ORDERS RECEIVED

Q4'FY26 (Consolidated - Value ₹ in Million, Share in %)

Orders Received

INVESTOR PRESENTATION

STRONG ORDER BOOK

Order Book as on 31st March, 2026

(€ In Million, Consolidated)

Particulars	Consolidated
Opening Order Book	4,839.5
[+ ] Orders Received	6,021.9
[ - ] Orders Executed	6,187.1
Closing Order Book	4,674.3

INVESTOR PRESENTATION

KEY HIGHLIGHTS & UPDATES

Record Q4 EBITDA

Achieved the highest-ever absolute EBITDA in Q4 FY26, driven by strong revenue growth and disciplined operational execution.

Credit Rating Upgrade

Credit rating upgraded to A-, underscoring improved financial strength and enhanced credit profile.

Industry-Leading Profitability

Delivered FY26 consolidated EBITDA margin of 25.1%, significantly above the guided range of 22–23%, demonstrating sustained margin resilience.

Operational Focus Continues

Management remains focused on sustaining healthy profitability, operational efficiency, and disciplined execution.

Strong Order Momentum

Secured ~£6,000 mn order inflows during FY26, reflecting robust demand across key industrial sectors.

Healthy Growth Outlook

Maintains a strong active enquiry pipeline £40,000 mn of across core industrial sectors, supporting future growth visibility.

Strengthened Balance Sheet

Successfully completed a ~£3,000 mn fund raise in May 2026, resulting in the Company becoming net debt free post transaction.

ROCE

~22%

Interest Coverage

10x

Net Debt Free

(as on 31st March 2026)

KEL achieved total income of ₹ 6,433 Million (consolidated) during financial year ended March 2026

KEL's Closing Order Book stood at ₹ 4,674 Million (consolidated) as on 31st March 2026

PRESENTATION TITLE

DESIGNED FOR GROWTH, TRUSTED FOR EXCELLENCE

Our successful track record includes customized process equipment manufacturing for various industries, catering to the requirements of both international and domestic customers, including large conglomerates.

We have an extensive R&D center that develops cutting-edge technologies and new equipment of international standards for our end-user industries.

Our sharp, highly qualified, and experienced Board of Directors lead us, along with a talented pool of engineers in mechanical, chemical, instrumentation, and electrical engineering disciplines.

Our progress is driven by our experienced Board of Directors, professional management team, and talented pool of engineers with expertise in mechanical, chemical, instrumentation, and electrical engineering disciplines.

With our 40+ years of experience, we specialize in designing, engineering, and manufacturing equipment and systems for process plants in the chemical and petrochemical sectors.

As a leader in solid, liquid, and gas drying systems, we operate in a niche market.

We provide comprehensive solutions for various industries such as tea, fertilizer, carbon black, soda ash, pharmaceuticals, dyes, pigments, and specialty chemicals.

We have notable installations in critical applications in oil and gas and nuclear power, including offshore platforms with skid-mounted packages and heavy water drying system engineering capabilities.

INVESTOR PRESENTATION

OFFERINGS DIVERSIFIED AND BESPOKE SOLUTIONS (1/4)

Customized Industrial Drying System

INVESTOR PRESENTATION

OFFERINGS DIVERSIFIED AND BESPOKE SOLUTIONS (2/4)

Customized Package System

INVESTOR PRESENTATION

OFFERINGS DIVERSIFIED AND BESPOKE SOLUTIONS (3/4)

Fabricated and Large Critical Equipment

INVESTOR PRESENTATION

OFFERINGS DIVERSIFIED AND BESPOKE SOLUTIONS (4/4)

Standard Products

Other Products

INVESTOR PRESENTATION

OUR MANUFACTURING PROWESS (1/2)

Metal Cutting and Forming

Cutting machines
Metal forming machines
Press Brakes
Shears/bending machines
Welding machines

Machining

Drilling machines
Universal milling machine
Lathes
Shaping machine

Material Handling

Equipment
EOT cranes
Forklifts
Mobile cranes

Others

Painting
Balancing equipment
Shot Blasting Machine
Utilities

State-of-the-art manufacturing facility for fabrication, machining and assembly of the equipment situated at Thane, Maharashtra (India). Our manufacturing plant is spread across 30,960 square metres.

Manufacture equipment using materials such as aluminium, carbon steel, stainless steel, inconel, hastelloy, monel, nickel, duplex stainless steel, Alloy 253 mA and titanium.

INVESTOR PRESENTATION

OUR MANUFACTURING PROWESS (2/2)

Overview of Plant at Saravali, Bhiwandi, Maharashtra

INVESTOR PRESENTATION

OUR VALUED CLIENTELE : A BRIEF OVERVIEW (1/2)

€

Petrochemicals

Speciality Chemicals

Carbon Black

Power

Oil & Gas

Pharmaceuticals

ANY STOR PRESENTATION

OUR VALUED CLIENTELE : A BRIEF OVERVIEW (2/2)

Food & FMCG

Fertilizer

Minerals, Mining & Others

Soda Ash

Metals

ANVESTOR PRESENTATION

OUR GLOBAL PRESENCE

INVESTOR PRESENTATION

Exporting nation

Collaborators and technical associates

KILBURN ENGINEERING'S
100% Subsidiaries

M.E. Energy Private Limited
Waste Heat Recovery (WHR) Systems
Acquisition completed in Feb 2024
For INR 987 mn

Monga strayfield Private Limited
Radio Frequency (RF) Drying Systems
Acquisition completed in Jan 2025
For INR 1230 mn

M.E. Energy Private Limited

100% Subsidiary

SYNERGISTIC ALIGNMENT, STRATEGIC INTEGRATION

M.E. Energy Private Limited, a leading provider of custom-built Energy Saving, Heating, and Cooling Systems, specialized in Thermal Engineering.

This alignment will synergize M.E. Energy's and Kilburn Engineering's thermal and mechanical engineering capabilities, enhancing their technological offerings, operational efficiencies, and overall scale in the market.

Consideration

Mix of equity in Kilburn Engineering and cash to the erstwhile promoters

Synergy

Cost efficiency, trimming overheads and amplifying margins at a consolidated level & expanded sales opportunities by tapping into the existing clients bases of Kilburn and MEE

Kilburn's proficiency in drying systems, amplifies ME Energy's expertise in custom-built energy-saving systems.

Enhancing industry solutions by optimizing technological capabilities and operational efficiencies of Kilburn and ME Energy

Collaborating on thermal engineering to unlock synergistic advantages.

It operates as a wholly owned subsidiary of Kilburn Engineering Limited

ME ENERGY: SPECIALIST IN CUSTOM ENERGY SOLUTIONS

Specialise in designing and manufacturing world-class, highly customised thermal & mechanical systems for various industries

25+

Years of Innovation

Thermal & Mechanical Engineering

Core Competence

1500+

Installations Globally

Waste Heat Recovery (WHR) & Waste Heat Reutilisation Systems

Design, Manufacture and Installation of Energy Saving Projects, Heating and Cooling Systems and Equipment

15+

Industries Served

Concept to Commissioning

Custom built Energy Savings Systems/

Equipment, Heat Transfer Systems and

Equipment on turnkey basis

21+

Countries

Exports

USA, Japan, Turkey, Spain, France,

Bangladesh, Indonesia, among others

Products:

16 MW Waste Heat Based

Power Plant for 200 MW IPP

3.5 MW Thermal Oil Heater for

Biscuit Baking

Biscuit Baking Ovens

(on Biomass)

Co2 Solution

Reboiler

INVESTOR PRESENTATION

MEE KEY CLIENTELE: LEADING INDUSTRY PARTNERS

Auto	Food & Beverage	Oil & Gas/ Petrochemicals	Carbon	Iron & Steel	Others
Mahindra	BRITANNIA	GOLD	ADITYA BIBLA	JSW	SAINT-GOBAIN
Hero	ITV Limited	Wharal Petroleum	PCBL	NMDC	DEEPAK FORTUNERS AND PETROCHEMICALS CORPORATION LIMITED
TATA MOTORS	PEPSICO	Chicken IndianOil	BKT	John Cockerill	WARTSILA
TVS	Hakilman	TOYO ASSOCIATION	IEG	BLACK & VEATCH	SRI

2017 STOR PREVENTION

Monga Strayfield
Pvt. Ltd.
MONGA STRAYFILED PRIVATE LIMITED
100% Subsidiary

EXPANDING PORTFOLIO, EXPLORING NEW SECTORS

About Monga Strayfield Private Limited

Founded in 1968. A Leading manufacturer of Radio Frequency (RF) heating and drying equipment, renowned for its over five decades of expertise in RF systems. Having a strong foothold in sheet metal fabrication. Strong customer base in the USA and Europe, with a global reach spanning six continents. Their solutions are trusted globally for their reliability and cutting-edge performance.

4000+ installations | 1000+ customers served | 50+ years of expertise

Radio Frequency (RF) Heating & Drying Solutions:

Offers RF heating, drying, and heat pump technologies, offering energy-efficient solutions for moisture removal and temperature control.

Monga's products cater to diverse applications like food processing, textile drying, latex drying, disinfestation, paper drying, fiber glass processing, and defrosting.

Low-temperature (RH) drying sets the standard for efficiency, allowing us to remove significant moisture at a low cost, key markets include fruit, vegetable, herb, and spice drying.

RF technology optimizes production, reducing process times while ensuring uniform quality and energy efficiency.

INVESTOR PRESENTATION

MONGA STRAYFIELD'S INFRASTRUCTURE & KEY MILESTONES

INFRASTRUCTURE:

State-of-the-art manufacturing and R&D facility in Bhosari, Pune
Offices in Pune, Mumbai, Delhi (India), and Theale (United Kingdom)
Service engineers available 24/7 across five continents

PRESENCE:

3 State-of-the-art manufacturing Facility in Bhosari, Pune, Maharashtra along with R7D Facility.
Manufacturing facility in Theale, Berkshire, UK
Joint Venture - Gentle Processing SK, Canada
Offices: India – Pune & Mumbai, Maharashtra; Delhi / UK – Theale, Bershire

Key Timeline Highlights:

1968

Monga Electronics Pvt. Ltd. was established in India & Strayfield Ltd. in England.

1996

Established Monga Strayfield Pvt. Ltd. (50:50 joint venture with Strayfield Ltd., UK), to manufacture textile yarn drying machines.

2005

Acquired joint venture partner Strayfield Ltd. in the UK.

2008

Amalgamated all group companies in India under Monga Strayfield Pvt. Ltd. to improve integration and resource utilization.

2009

Developed the first and only 125kW machine to meet global economic growth and capacity demands.

2016

Formed a joint venture with a Canadian partner to create QGTI, focused on organic, chemical-free processing of fresh foods and grains.

2019

Developed low-temperature dehydration technology, achieving cutting-edge drying efficiency for fresh food dehydration.

MULTIPLE INDUSTRIES & MULTIPLE APPLICATIONS

Catering to wide range of industries: Catering multiple industries in UK, USA, Italy, Netherlands, New Zealand, Oman, Poland, Russia, South Africa, Turkey, & others
(Provide high quality high yield production)

FOODS	Textiles	Other Applications	Industry	Application of RF Dryers
Post Baking	A.E
Ammada, Crayola, Gashan	3M
Yukum, Yukum	Textiles	Textile packages, hanks, tops & loose fibers
			Post Baking	Energy saving, reduced process times, enhanced quality
Shorots	Siyaram's
Settled	Reliance
Industries Limited	Food & Spices	Ready-to-eat food products and spices
			Ceramics	Ceramics & thermally insulating materials
Barnwork	Sutter
Trident Group	Komponen
KOMOPI
CHAMBON	Disinfestation & Sanitization	High volume & continuous flow disinfection and sterilization
			Defrosting and Thawing	Tempers for a uniform temperature profile
Plant Protein	Disinfestation	Fiberglass	Latex & Foam	Increased productivity
			Fiberglass & Basalt Fiber	Quality and complete drying of fiberglass & basalt fiber
RIVER/ALLEY	GUNOZ
Gunzoz	Yukum
Yukum	Web & Sheet Drying	Book binding, matchboxes, coated paper & water-based inks and adhesives
			Others	Wood laminates, pulp, leather, cosmetics & pharmaceutical ingredients

INVESTOR PRESENTATION

EXPANDING KILBURN'S PRODUCT RANGE & MARKET PRESENCE

Perfect alignment with Kilburn's strategic vision

Integration of Monga Strayfield's advanced RF drying and heating technologies enables innovative, high-performance solutions for diverse industries, creating new growth opportunities

Strengthens Kilburn's market position and enhances offerings across key industrial sectors

Adds significant capabilities to Kilburn's portfolio, positioning for accelerated growth

Monga Strayfield's sheet metal fabrication expertise expands Kilburn's international presence

Broadens reach into industries such as textiles, packaged foods, Fiberglass & Basalt Fiber, among others

Acquisition Details

Acquisition completion date 27th Jan 2025

Total Consideration | INR 1,230 mn
Cash | INR 1,030 mn
Equity Shares of Kilburn | INR 200 mn
(0.47 mn shares @ INR 425/ share)

Shareholding by Kilburn post acquisition
100% of MSPL's share capital

INVESTOR PRESENTATION

Kilburn Engineering Limited

Consolidated

OPPORTUNITIES FOR GROWTH

Radio Frequency Drying and Heating Solutions
Bundling of KEL and MEE offerings to existing customer base
Additional equipment/ Packages in existing sectors like soda ash, carbon black etc.
Other applications such as Biomass drying, waste-to-energy etc.
Silos and Tanks
Belt/ Band/ Conveyor Dryers for various applications
Spin Flash Dryer for Various applications
Spray Dryer for various applications
Sheet Metal Fabrication
Energy Savings Systems & thermal equipment from MEE
Rotary steam tube bundle dryer for DDGS.
Fluid Bed Calciner & Batch FBD
RVPD (Rotary Vacuum Paddle Dryer)
ATFD (Agitated Thin Film Dryer)
Granulator
Material Handling

INVESTOR PRESENTATION

ROBUST WAY FORWARD

Anticipate continued substantial revenue growth in the upcoming years, driven by a strong flow of orders and a pending order book.

Explore new and niche areas of application with the help of our successful integration of world-class technologies, in addition to our primary sectors of Chemical, Petrochemical, Refinery, Oil & Gas, Power, Fertilizer, Food and allied industries.

Consolidated growth of ~50% in anticipated in FY26, followed by growth of CAGR 25–30% from FY27 onwards (on the base of FY26) & rolling enquires of more than ₹ 40,000 Million (on consolidated basis), which the company is at various stages of bidding/ evaluating.

Continue to enjoy cost advantages available to the Indian manufacturing industry, relative to global players, and will strive to make the best use of this opportunity. Furthermore, we will continue to focus on both domestic and international markets.

INVESTOR PRESENTATION

PROFESSIONAL MANAGEMENT TEAM

MR. RANJIT LALA

He holds the position of MANAGING DIRECTOR of the company, leveraging his academic background with a Bachelor's in Engineering (B.E.) and a Master's in Marketing. His professional journey spans over 35 years, marked by invaluable experience in corporate management. His most recent role as managing director underscores his pivotal responsibility for overseeing all aspects of the company's operations and strategic growth.

Mr. Anil Karnad

He serves as the WHOLE-TIME DIRECTOR (OPERATIONS) of the company, holding a degree in B.E. (Production Engineering). His extensive career spans multiple sectors including Oil & Gas, Fertilizers, Power, and Chemicals. Currently, he oversees all facets of operational delivery, encompassing production, quality assurance, engineering, procurement, subcontracting, as well as site erection and commissioning.

Mr. M. R. Kazi

He holds the position of PRESIDENT (MARKETING) within the company, having achieved a Diploma in Mechanical Engineering. With a tenure that spans since 1986, he brings extensive experience and expertise to his role.

Mr. Vijaysankar Kartha

He is DIRECTOR & CTO at the company. With a robust entrepreneurial background in thermal engineering, project management, and business development, he acquired business management skills at XLRI, Jamshedpur, and mechanical engineering expertise from Kerala. Additionally, he pursued advanced management training at IIM Ahmedabad. He established M.E Energy Pvt. Ltd. in Pune, successfully expanding it into a $10M enterprise serving clients worldwide.

Mr. Sachin Vijayakar

He serves as the CHIEF FINANCIAL OFFICER of the company, having earned his Bachelor of Commerce degree. He has been a valued member of the company since 1985.

INVESTOR PRESENTATION

ANNUAL STATEMENTS

Income Statement & Balance Sheet (Consolidated)

Income Statement (₹ Mn)	Standalone		Consolidated
	FY22	FY23	FY24	FY25	FY26
Total Income from Operation	1,227.5	2,215.3	3,331.4	4,276.2	6,432.9
Expenses	1,097.9	1,868.6	2,531.0	3,234.6	4,816.6
Cost of Material Consumed	647.3	1,278.9	1,610.7	1,811.5	2,669.4
Subcontracting Charges	106.9	168.9	250.1	204.5	358.6
Changes in inventories of FG & WIP	(20.8)	(54.3)	43.4	(2.3)	39.5
Employee Benefit Expenses	144.2	187.9	274.5	501.5	719.2
Other Expenses	220.3	287.1	352.3	719.4	1,030.0
EBITDA	129.6	346.7	800.5	1,048.6	1,616.3
Other Income	16.5	146.6	-	-	12.2
Depreciation	27.9	26.5	34.6	73.3	116.6
EBIT	118.1	466.8	765.9	975.3	1,511.9
Interest	87.8	79.2	96.6	148.7	150.6
PBT	30.4	387.7	669.3	826.6	1,361.3
Tax	14.9	86.3	163.9	202.7	399.3
PAT	15.5	301.3	505.4	623.9	962.0
Reported EPS	0.54	8.66	13.3	13.94	19.02

INVESTOR PRESENTATION

BALANCE SHEET (Consolidated)

Particulars (₹ Mn)	FY24	FY25	FY26
Equity & Liabilities:
Shareholders' Funds	2,543.9	4,725.1	6,541.1
Share Capital	418.2	474.9	529.6
Other Equity	2,125.7	4,250.3	6,011.5
Non-Current Liabilities	573.7	615.8	462.7
Long Term Borrowings	555.2	514.7	315.6
Deferred Tax Liability (Net)	0.0	13.2	13.5
Lease Liability	9.0	69.0	109.5
Provision	9.5	18.9	24.1
Current Liabilities	1,737.6	1,968.3	1,941.1
Short Term Borrowings	280.4	272.4	451.8
Trade Payables	441.0	634.9	540.8
Short Term Provisions	9.2	21.9	30.8
Other Current Liabilities	1,006.9	1,039.1	917.8
TOTAL	4,855.2	7,309.2	8,944.9
Particulars (₹ Mn)	FY24	FY25	FY26
---	---	---	---
Assets:
Non - Current Assets	1,915.5	3,110.9	3,163.4
Property, Plant & Equipment	709.1	1,267.2	1,317.0
Right of Use Assets	97.0	355.2	388.5
Capital WIP	49.7	50.8	46.3
Goodwill	784.6	1,213.8	1,213.3
Investments	92.4	84.4	73.2
Deferred tax assets (net)	82.1	1.5	2.0
Other Non-Current Assets	100.7	138.0	123.2
Current Assets	2,939.7	4,198.4	5,781.6
Inventories	309.0	479.8	463.2
Trade Receivables	783.9	1,054.8	2,022.3
Cash & Cash Equivalents	303.3	270.4	673.8
Other Current Assets	1,543.5	2,393.3	2,622.2
TOTAL	4,855.2	7,309.2	8,944.9

INVESTOR PRESENTATION

THANK YOU!