Sogefi (SGF) Sogefi Star Conference 2025 Presentation summary

Financial performance and highlights

• Revenues reached €1,022.3m in 2024, down 1.7% from 2023, mainly due to market declines in Europe and North America; EBITDA rose to €125.3m from €107.8m.

• Free cash flow turned positive at €20.6m, a significant improvement from -€12.8m in 2023; net financial position improved to €9.5m cash from €200.7m debt.

• Contribution margin increased to 29.1% from 27.7%, with stable fixed costs despite inflationary pressures.

• Net income from operating activities was €18.0m, while total net income including the Filtration disposal effect was €141.3m.

• Extraordinary dividend of €109.6m paid in July; proposed dividend of €0.15 per share to be paid in May 2025.

Business unit and geographic performance

• Suspension sales declined 6.9% at constant exchange rates, mainly due to a challenging European market, especially in heavy duty; positive sales trends in China (+36.2%) and South America (+6.8%).

• Air & Cooling sales decreased 1.0% at constant exchange, but outperformed the market in Europe; contribution margin improved due to lower raw material costs.

• Europe saw an 8.6% sales decline, while China and South America outperformed their respective markets.

• 28% of 2024 sales were for e-mobility (hybrid and fully electric vehicles).

Strategic developments and organization

• Completed the sale of the Filtration business for €374m, receiving €331.2m in cash and realizing a €122.4m capital gain; proceeds used for dividends and refocusing on Suspensions and Air & Cooling.

• New organizational structure with dedicated CEOs for Suspensions and Air & Cooling; focus on turnaround and growth in key markets.

• Expanded customer base, especially among Chinese and North American pure electric OEMs and new entrants.