Munters (MTRS) Investor presentation summary

Strategic positioning and business overview

• Global leader in energy-efficient climate solutions, operating in over 45 countries with ~5,100 employees.

• Three main business areas: AirTech (55% of net sales), Data Center Technologies (27%), and FoodTech (18%).

• Focus on sustainability, digitalization, and expanding service and software offerings.

• Service ambition targets over one-third of group net sales from service and components.

• Ongoing investments in global footprint, including new plants in Ireland, the US, and China.

Financial performance and targets

• Q3 2024 net sales up 6% year-over-year, with strong growth in DCT and FoodTech, but AirTech impacted by weak battery demand.

• Adjusted EBITA margin improved to 16.2%, driven by volume growth and operational efficiencies.

• Operating working capital as a percentage of net sales within the 13-10% target range.

• Net debt increased due to acquisitions and facility expansions.

• Mid-term targets: >14% adjusted EBITA margin, >14% annual currency-adjusted growth, and net zero Scope 1 & 2 emissions by 2030.

AirTech business area

• AirTech remains a global leader in industrial air treatment, with 49% of order intake from industrial customers.

• Battery segment faces continued weak outlook due to global overcapacity and slower EV adoption.

• Clean Technologies segment supports decarbonization and emission cleaning for power, electronics, and process industries.

• Service and components represent 40% of AirTech order intake.

• Ongoing investments in new manufacturing sites to support growth and sustainability.