Nemak (NEMAKA) investor relations material

Executive summary

• 3Q26 revenue rose 22.3% YoY to $1.501B and EBITDA increased 21.3% to $174M, supported by acquired operations, higher aluminum prices, favorable mix and commercial negotiations.

• Net income was break-even versus $25M in 3Q25; impairments and higher financial expenses weighed on results.

• Integration progressed, new business awards reached ~$620M in annual revenue YTD, and refinancing extended debt maturities.

Financial highlights

• Revenue was $1.501B, up 22.3% YoY; acquired operations contributed to growth.

• EBITDA was $174M, up 21.3% YoY; gross profit rose 37.5% to $165M, while operating income declined 3.8% to $25M, including $24M of asset impairments.

• Net income was break-even versus $25M in 3Q25; impairments, higher financial expenses and refinancing costs weighed on results, partly offset by an income tax benefit.

• 9M26 revenue grew 18.7% to $4.403B; EBITDA was $472M versus $474M and operating income fell 39.9% to $92M.

Outlook and guidance

• Annual acquisition synergies are estimated at $20M–$40M, beginning to materialize in 2027 and building thereafter; none were reflected in Q3 results.

• New business awards totaled $220M in annual revenue in Q3 and ~$620M YTD, exceeding the $440M awarded in full-year 2025.

• Medium-term net debt/EBITDA target remains closer to 2.0x from 2.8x pro forma at September-end; EBITDA growth and cash generation are expected to begin reducing leverage in 2027.

• Most Augusta investment is expected to conclude in 2026, with some carryover into 2027; CapEx should gradually decline, and 2027 spending and free cash flow guidance will follow at the next call.

• Augusta is ramping BMW SUV deliveries; positive EBITDA is expected as soon as 2027 depending on volume ramp-up, with the $170M–$200M annual revenue outlook unchanged.