Jacquet Metals (JCQ) Portzamparc Annual Conference Mid & Small Caps Presentation summary

Group overview and market presence

• Operates 123 distribution centers across 27 countries with 3,339 employees and €2.1bn in LTM sales.

• Sales are concentrated in Germany (36%), other Europe (25%), North America (7%), and France (10%).

• Three main divisions: JACQUET (stainless steel plates), STAPPERT (long products), IMS group (engineering metals).

• Serves 60,000 customers with an average invoice below €3,000 and delivery times around one week.

• Key sectors include energy, environment, transportation, and machinery.

Financial performance Q1 2024

• Q1 2024 sales were €558m, down 19% year-over-year, with volumes sold down 7.2%.

• EBITDA was €19m (3.5% of sales), significantly lower than 11.1% in Q1 2023.

• Net income (group share) was €3m, compared to €44m in Q1 2023.

• Operating cash flow was strong at €87m, with gearing reduced to 24.5%.

• Gross margin declined to 20.3% of sales from 25% in Q1 2023.

Capital expenditures and external growth

• Invested €21m in CAPEX, including acquisition of a Bologna site and COMMERCIALE FOND SPA in Italy.

• New sites under development in Toronto and Chicago, operational from 2026.

• Recent acquisitions include COMMERCIALE FOND SPA, adding four distribution centers in Italy.

• Stuttgart site in Germany acquired in Q3 2023, operational from Q1 2024.