Munters (MTRS) Investor presentation summary

Financial performance and growth

• Q3 saw strong order intake, up 57% year-over-year, with organic growth of 56% and structural growth of 14%.

• Net sales increased by 17%, driven by strong demand in Data Center Technologies (DCT) and FoodTech, despite currency headwinds.

• Adjusted EBITA margin was 13.5%, with DCT and FoodTech contributing positively, while AirTech faced challenges from lower volumes and unfavorable mix.

• Book-to-bill ratio stood at 1.1, indicating robust demand and backlog.

• Operating working capital as a percentage of net sales was 8.3% in Q3.

Business segment highlights

• AirTech maintained leadership in industrial air treatment, with 50% of Q3 order intake from the battery segment and 28% from other industrial customers.

• DCT achieved a 20.8% adjusted EBITA margin, with 62% of order intake from hyperscalers and strong demand for chillers and air handlers.

• FoodTech reported an 18.4% adjusted EBITA margin, with 56% of order intake from broiler customers and 74% of segment order intake from controllers.

Strategic initiatives and market positioning

• DCT secured record orders totaling $215 million from a US hyperscaler, the largest combined order from a single customer.

• Acquisition of Geoclima enhanced chiller offerings, supporting regional growth and enabling US-based production from 2026.

• Investments in manufacturing capacity include a major expansion in Roanoke, Virginia, and new sites in Ireland and Thailand.

• Focus on technology-agnostic cooling solutions, including liquid and air cooling, to address rising power density and energy efficiency needs in data centers.