Arbonia : Media and Analyst Conference March 2022

Annual results 2021

Alexander von Witzleben, CEO & Daniel Wüest, CFO 1 March 2022

Strong profitable growth in 2021 Overview key metrics (CHF M)

Net revenues

EBITDA1

Net debt/cash

Capex2

Free cash flow

+14%

1′186

1′038

11.0%	11.3%	0.9x	-0.7x
EBITDA Margin	Leverage Ratio

+31%

+381%

2020

2021

+17%
114	134
2020	2021

141

-93

2020 2021

143

86
	113
2020	2021

		253
	53
	2020	2021

Strong growth of	Margin improvement of	Proceeds from sale of
+14.2% (+11.6%	30 bps to 11.3% due to	Windows Division
organic) backed by	increased productivity	(CHF 334 M cash plus
supportive construction	and despite higher	CHF 17 M debt)
markets and regulatory	material costs	leading to net cash
environment		balance at year-end

Execution of accelera-	FCF reflecting cash
ted capex plan 2021 /	proceeds from
2022 on back of sale of	Windows sale but also
Windows Division	accelerated capex
	program, balance
	sheet optimisations
	and increase in NWC

Capex and new products driving profitable growth

1 EBITDA figures without one-time effects - EBITDA with one-time effects 2020: CHF 116.3 M and 2021: CHF 124.7 M 2 Excluding discontinued operations and purchase of Garant factory (CHF 30 M)

Annual results 2021 | 1 March 2022

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Agenda

1. Group results 2021
2. Division highlights
3. Outlook & Guidance Questions

Annual results 2021 | 1 March 2022

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Income Statement
Without one-time effects (CHF M)
	2021		in %	2020	in %		I		Revenues
Net revenues	1'186.2 I	100.0	1'038.4	100.0	•		Net revenues up 14.2% -
Cost of material and goods	-548.6		-46.3II	-454.0	-43.7			almost no FX effects
		II		Cost base
Personnel expenses	-378.8		-31.9II	-345.3	-33.2
	•		Higher material prices
Other operating expenses	-159.2		-13.4II	-147.1	-14.2
			mostly offset by
EBITDA	134.3	III	11.3	114.5	11.0			increased productivity
	III		EBITDA (+17%)
Depreciation, amortisation, impairments	-51.7		-4.4	-47.5	-4.6
	• Margin up by 0.3% points
EBITA	82.7		7.0	67.0	6.4
			due to material cost
PPA amortisation	-15.7		-1.3	-14.9	-1.4			management and
			operational leverage
		IV
EBIT	67.0	5.6	52.1	5.0		IV	EBIT (+29%)
Net financial result	-9.4		-0.8	-12.9	-1.2	•		Increase of EBIT margin
Group result before income tax	57.6		4.9	39.1	3.8			by 0.6% points
Income tax expense	-16.5V	-1.4	-11.0	-1.1		V		Income tax
Group result from continuing operations	41.1	VI	3.5	28.1	2.7	•		Effective tax rate of 28.6%

VI Net Profit (+46%)

• Net Profit substantially up compared to last year

Blue figures are adjusted for one-time effects

Annual results 2021 | 1 March 2022

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Income Statement As reported (CHF M)

	2021		in %	2020	in %
Net revenues	1'186.2		100.0	1'038.4	100.0
Cost of material and goods	-548.9I	-46.3	-454.0	-43.7
Personnel expenses	-386.7I	-32.6	-345.6	-33.3
Other operating expenses	-161.0I	-13.6	-147.0	-14.2
EBITDA	124.7		10.5	116.3	11.2
Depreciation, amortisation, impairments	-55.7I	-4.7	-47.5	-4.6
EBITA	69.0		5.8	68.8	6.6
PPA amortisation	-15.7		-1.3	-14.9	-1.4
EBIT	53.3		4.5	53.9	5.2
Net financial result	-9.4		-0.8	-12.9	-1.2
Group result before income tax	43.9		3.7	40.9	3.9
Income tax expense	-16.4		-1.4	-11.2	-1.1
Group result from continuing operations	27.5		2.3	29.7	2.9
Group result from discontinued operations	111.2		9.4	15.2	1.5
Group result	138.7	II	11.7	44.9	4.3

• 1. One-timeEffects
• One-timecosts with CHF
• 1. M negative EBITDA effect mainly related to relocation / closure of Tubbergen plant (CHF

  1. M)
• Tubbergen related impairments on machinery with negative one-time EBIT effect of CHF 4.0 M
• One-timeeffects with negative impact of CHF
• 1. 1. M on Net Profit from continuing operations
  2. Net Profit (+209%)
• Overall reported Net Profit significantly up - including amongst others realised net profit from disposal of Windows Division

Annual results 2021 | 1 March 2022

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