Q1 2024 REVENUE

13 MAY 2024

DISCLAIMER

This presentation, the presentation materials and discussion may contain certain forecasts, projections and forward-looking statements - that is statements related to future, not past, events - in relation to, or in respect of, the financial condition, operations or businesses of Solutions 30 SE.

Any such statements involve risk and uncertainty because they relate to future events and circumstances. There are many factors that could cause actual results or developments to differ materially from those expressed or implied by any such forward looking statements, including, but not limited to, matters of a political, economic, business, competitive or reputational nature. Nothing in this presentation, the presentation materials and discussion should be construed as a profit estimate or profit forecast.

Solutions 30 SE does not undertake any obligation to update or revise any forward-looking statement to reflect any change in circumstances or expectations.

In the following slides, figures have been rounded to the nearest whole number or the nearest decimal. Therefore, the sum of the numbers may not conform exactly to the total figure or to 100%.

2

TODAY'S PRESENTERS

Gianbeppi Fortis

Amaury Boilot

Jonathan Crauwels

Chief Executive Officer

Group General Secretary

Chief Financial Officer

3

Q1 2024

Overview

Gianbeppi Fortis, CEO

Amaury Boilot, Group General Secretary

4

Q1 2024 HIGHLIGHTS

Uninterrupted revenue growth driven by digital transformation and energy transition

+3.8%, to € 265m in Q1 2024

Continued strong momentum in Benelux

+21.6% revenue growth in Q1, against a very high comparison basis

Energy activities confirmed as a powerful growth driver for the Group

+35.9% revenue growth in Q1

+47.6% in France where the activity mix rebalancing is in progress

Q1 revenue growth excluding Italy: +6.7%

Situation in Italy currently improving

Activity anticipated to come back to normal during H2

Full-year outlook confirmed

Continued revenue growth, at a higher rate than in Q1, with visibility significantly improved in Italy and Belgium, and ramp-up of German fiber activities

Further improvement in adjusted EBITDA margin

5

+6.7% REVENUE GROWTH EXCLUDING ITALY

+€ 9.8m (+3.8%)

+6.7% excluding Italy

Organic change: +€ 8.6m (+3.4%)

+6.2% excluding Italy

+17.9

Others

263.8

+1.2

265.0

+1.6

255.3

-5.0

Italy

-6.0

-4.4

Org. growth:

Org. growth:

Org. growth:

+21.6%

-4.9%

-6.2%

Excl. Italy:

+3.1%

Q1 2023

Benelux

France

Other

Q1 2024

France

Q1 2024

revenue

Countries

revenue

revenue

Organic

(organic)

Acquisitions

  • Continued strong growth in
    Benelux despite high comparison basis (+77% in Q1 2023)
  • Rebalancing the French activity mix towards Energy (+47.6% growth in Q1, of which 38% organic, driven by renewable energies)
  • Impact from current situation in Italy (started Q3 2023); normalization in process
  • Solid growth in Germany
  • Successful development in Poland

In millions of euros

6

ENERGY ACTIVITIES: A POWERFUL GROWTH DRIVER +36% GROWTH IN Q1

+3.8%

255.3

265.0

Energy

27,1

36,9

+35.9%

28,4

Technology

25,7

-9.5%

199,8

Connectivity

202,5

+1.4%

Q1 2023

Q1 2024

Connectivity

Energy

Technology

Energy transition : a powerful growth driver for the Group

  • Energy activity up +35.9% in Q1
  • Successful diversification in Solar and grid modernization
  • Buoyant market in France

Connectivity benefitting from Pan-European footprint

  • Proven business model deployed across Europe, allowing to capture all opportunities in fiber
  • Significant growth potential in Benelux, Germany, Poland, UK; mature markets in France and in Spain

+3.8%

255.3

265.0

82,8

Benelux

100,7

+21.6%

70,8

Other Countries

66,5

-6.2%

101,6

France

97,9

-3.7%

Q1 2023

Q1 2024

France

Other Countries

Benelux

In millions of euros

7

Q1 2024

Details per region and activity

Jonathan Crauwels, CFO

Amaury Boilot, Group General Secretary

BENELUX: STRONG MOMENTUM 38 % OF Q1 2024 REVENUE

+21.6%

100.7

82.8

Energy

16,7

+14.6%

14,6

Technology

5,3

4,8

+11.6%

Connectivity

78,7

63,5

+24.0%

Q1 2023

Q1 2024

Connectivity Technology Energy

Energy: +14.6%

Continued development, successful diversification

  • Roll out of digital meters in Flanders
  • Successful diversification in electrical grid modernization: contract with Fluvius to transform >1000 km of low-voltage network to adapt to new electricity needs

Connectivity: +24.0%

Continued ramp-up of fiber activities

  • Strong growth on a high comparison basis (Q1 2023: +92%), despite unfavorable weather conditions
  • Impact of forthcoming Belgian elections on fiber deployment activities expected to be minimized in light of recent planning with municipalities and customers

Technology: +11.6%

Robust momentum driven by digital transformation

  • Good growth in IT services

Revenue figures are expressed in millions of euros; % represent year-on-year revenue growth, including organic and inorganic variations

9

FRANCE: MIX REBALANCING TOWARDS ENERGY IN PROGRESS 37 % OF Q1 2024 REVENUE

-3.7%

101.6

97.9

Energy

11,9

+47.2%

17,5

17,7

Technology

15,6

-11.5%

72,1

Connectivity

64,7

-10.3%

Q1 2023

Q1 2024

Connectivity Technology Energy

Energy: +47.2%

Confirming potential as the #1 growth driver in France

  • Strong momentum in renewable energies, which revenue doubled in Q1: ramp- up of large PV infrastructure projects, good commercial traction thanks to recent ENR law
  • Finalization of the acquisition of a minority stake in So-Tec, PV structure installer in the south of France. Stake to be progressively increased (c. € 20m revenue to be consolidated in 2025)

Connectivity: -10.3%

Continued managed decrease in revenue with strong focus on margins

  • Contract selectivity and focus on profitability in the mature fiber market
  • Growing share of maintenance activities, where Solutions30 has a strong competitive advantage

Technology: -11.5%

  • Lower volumes in IT, improvement expected thanks to 2024 Paris Olympics

Revenue figures are expressed in millions of euros; % represent year-on-year revenue growth, including organic and inorganic variations

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Solutions 30 SE published this content on 13 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 May 2024 16:50:01 UTC.