Increased profitability and profits in challenging end markets Page 1

• Slight decline in turnover: -4% currency adjusted
• Increased profitability: EBITDA margin 8.7% (PY 7.7%); +7% absolute
• Net profit increase: +71%
• Significant increase in cash flow: +194%
• Performance program «Accelerate» on schedule
• Consolidation of ZNL joint venture in China

Steinhausen, August 14, 2024 – In a challenging environment, Schweiter Technologies generated net sales of CHF 527.8 million, a year-on-year decrease of -6% (-4% after currency adjustments). The measures taken to ensure price discipline, greater efficiency and lower costs proved effective and growth in profitability and earnings was sustained despite the lower sales volume. The Group achieved EBITDA of CHF 45.9 million or 8.7% of net sales (previous year: CHF 42.9 million; 7.7%), while EBIT amounted to CHF 24.1 million (previous year: CHF 23.4 million). Net profit of CHF 20.3 million (previous year: CHF 11.9 million) increased due to the higher operating profit, one-off effects in the previous year and the positive impact on financial costs of the weaker Swiss franc in the reporting period. The strong increase in free operating cash flow is due to measures to optimize net working capital and to disciplined investment expenditures, which amounted to CHF 30.4 million (previous year: CHF 10.3 million).

OPERATING RESULTS, FIRST HALF OF 2024

Despite the market-related decline in sales, 3A Composites continued to improve profitability. The North America region reported revenue growth driven by the architecture business, while Europe was impacted by the negative economic environment in all segments. Business in the Asian markets declined overall, despite growth in the architecture segment. The downward trend was due to declining demand in the wind business and further intensification of price pressure in China. Nevertheless, all businesses achieved higher margins through a systematic focus on customer proximity, pricing strategy, improved efficiency and cost discipline.