Munters (MTRS) Investor presentation summary

Strategic positioning and business overview

• Global leader in energy-efficient climate solutions, operating in over 45 countries with ~5,000 employees.

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

• Focus on sustainability, digitalization, and innovation to address megatrends like electrification, climate change, and food security.

• Strong installed base and service offering, aiming for market leadership in prioritized segments.

Financial performance and targets

• Q2 2024 saw robust order intake, record-high profitability, and increased net sales, especially in DCT and FoodTech.

• Adjusted EBITA margin reached 17.8% in Q2, exceeding the >14% target.

• Operating working capital/net sales within the 13-10% target range; net debt/EBITDA reduced to 1.8x.

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

Business area highlights

• AirTech: Stable order intake, margin improvement to 17.6%, impacted by weak battery market in APAC but offset by growth in Americas and EMEA.

• Data Center Technologies: Strong growth, 21.9% EBITA margin, large order backlog, and expansion in Europe to meet demand.

• FoodTech: Significant margin increase to 17.7%, strong SaaS growth, and intention to divest equipment business.