Maire (MAIRE) investor relations material

Executive summary

• Revenues for H1 2026 reached €3.7 billion, up 6.9% year-over-year, with EBITDA up 14.7% to €266.2 million and net income up 18.3% to €157.2 million, driven by resilient project execution and a balanced project mix.

• Order intake was €7.2 billion in H1, with total new awards at €8.4 billion in the first seven months, nearing the €9 billion full-year target.

• Backlog reached €16.3 billion, close to an all-time high, with strong commercial momentum and geographic diversification, including entry into Argentina.

• Acquisitions of Ballestra and ETEK completed, expanding the technology portfolio into inorganic chemistry and electronic waste recovery, with contributions to P&L starting Q3.

• Workforce expanded by 500 professionals, enhancing capabilities in fertilizers, minerals, metals, and LNG.

Financial highlights

• EBITDA was €266.2 million, up 14.7% year-over-year, with margin at 7.2%.

• Net income reached €157.2 million, up 18.3%, with a margin of 4.3%.

• Adjusted net cash position at end of June was €301.1 million.

• CapEx totaled €204 million, mainly for acquisitions and technology development.

• €194.4 million returned to shareholders via dividends and €81.1 million via buybacks.

Outlook and guidance

• 2026 guidance confirmed: Group revenues €7.5–7.7 billion, EBITDA €545–575 million, capex €250–300 million.

• Order intake expected to exceed €9 billion in 2026, with strong pipeline in Latin America, Europe, and Middle East.

• Backlog visibility extends through 2028 and beyond, with 20% to be executed in H2 2026, 40% in 2027, and 40% in later years.