Clariane (CLARI) AGM 2025 summary

Opening remarks and agenda

• The meeting was held on 14 May 2025 in Paris, chaired by Jean-Pierre Duprieu, with key executives and auditors present.

• The meeting was opened with a welcome to shareholders, introduction of the executive team, and a reminder of voting procedures and meeting formalities.

• The quorum was confirmed at 71.3% of shares with voting rights, exceeding legal requirements.

• Statutory formalities were completed, including quorum verification and document filings, with legal documents and meeting materials made available to all attendees.

• The agenda included CEO activity report, 2024 financial results, Board and Mission Committee updates, auditor reports, Q&A, and voting on resolutions.

Financial performance review

• FY2024 revenue reached €5.3bn (+6.6% organic growth), EBITDA €605m (+9.2%), and operating cash flow €400m.

• Net financial debt reduced by €409m to €3.445bn, with leverage ratio improving from 6.2x to 5.8x.

• Asset disposal program: over 60% of €1bn target achieved or secured by Q1 2025.

• Q1 2025 revenue grew by 4.8% organically, with all business segments and geographies contributing, especially Germany (+8%).

• FY2024 net result (Group share) was -€20m, improved from -€63m in 2023, with net profit from continuing operations returning to positive at €5m.

Board and executive committee updates

• Sylvia Metayer was appointed as new Chairwoman, succeeding Jean-Pierre Duprieu at the close of the meeting.

• Board comprised 16 directors with 92% independent members and 80% women; six nationalities represented.

• Three institutional and two independent directors were appointed in 2024, with renewals and new appointments including Anne Lalou, Philippe Lévêque, and Olivier Bogillot.

• The Board met 15 times in 2024 with a 92% attendance rate, focusing on strategic and operational issues.

• Four specialized committees (Audit, Compensation & Appointments, Investment, Ethics/CSR) held regular meetings with high attendance.