Novem Group (NVM) investor relations material

Executive summary

• Q3 revenue was €117.9 million, down 5% year-on-year, mainly due to tooling segment delays, project phasing, and fewer working days from customer shutdowns.

• Series business remained stable (+0.1% y/y), while free cash flow reached a record €21.3 million in Q3, significantly above last year.

• Adjusted EBIT margin was 5.8% in Q3, impacted by lower revenues and project phasing.

• Net leverage improved to 1.8x, reflecting a strengthened balance sheet.

• New business wins with a major US premium EV manufacturer and Porsche; achieved greenhouse gas neutrality in Germany by end of 2025.

Financial highlights

• Q3 adjusted EBIT was €6.8 million, down from €10.0 million last year; Q3 adjusted EBIT margin was 5.8% (down from 8.1%).

• Year-to-date revenue was €372.4 million, a 7.7% decline year-on-year.

• Year-to-date adjusted EBIT margin was 6.0%, down from 9.0% last year.

• Free cash flow for the last 12 months was €65.1 million, up 44.3% from the previous quarter.

• Net financial debt decreased to €120.6 million, with cash at €169.9 million.

Outlook and guidance

• Expecting flat development for the remainder of the year, with new project ramp-ups supporting future call-offs.

• Lifted tooling revenues anticipated in Q4 due to shifted SOPs and programs.

• No material margin uplift expected for year-end; outlook remains stable but cautious.

• Confident in maintaining strong free cash flow levels if current call-off levels persist.

• Ongoing cost control and restructuring initiatives, including voluntary severance schemes, are expected to support profitability.