Munters (MTRS) Investor presentation summary

Strategic developments and portfolio changes

• Signed agreement to divest FoodTech Equipment, with closing expected in Q2 2025; focus remains on continuing operations.

• Ongoing investments in digitalization, automation, and sustainability to drive future growth.

• M&A activity includes acquisitions in Europe, India, Brazil, and minority investments in technology and service companies.

• Strategic journey emphasizes stability, profitability, and growth, with updated service ambitions and sustainability targets.

Financial performance and targets

• Q1 2025 order intake up 27% (+8% organic), net sales up 18% (+5% organic), but order backlog down 10%.

• Adj. EBITA margin declined to 13.5% (from 15.0%), with net income down 15% year-over-year.

• Leverage ratio increased to 3.1x, mainly due to lease liabilities and acquisitions; long-term target is 1.5x–2.5x.

• Operating working capital as a percentage of net sales at 10.2%, within the target range.

Business area highlights

• AirTech: Net sales and order intake declined due to weaker battery segment and lower service sales in Americas; launched M300 dehumidifier, winning a Red Dot Award.

• Data Center Technologies: Strong order intake and net sales growth, especially in Americas; robust profitability with 22.8% EBITA margin.

• FoodTech: Order intake and net sales grew, driven by controllers and software; recurring revenue (ARR) up 23% year-over-year.