Zumtobel Group (ZAG) investor relations material

Executive summary

• Revenues declined 6.4% year-over-year to EUR 775 million for the first nine months of 2025/26, reflecting weak demand and price pressure across most regions except America & MEA.

• Adjusted EBIT dropped 21.5% to EUR 32.2 million, with margin narrowing to 4.2% from 4.9% year-over-year, mainly due to lower volumes and Components Segment losses.

• Net profit for the period was EUR 9.0 million, down 31.3% year-over-year, with EPS at EUR 0.22.

• Efficiency programs and cost reductions partially offset revenue declines, especially in the Lighting Segment, improving the adjusted gross profit margin to 37.3%.

• Strategic focus remains on resilience, sustainability, and capturing renovation opportunities, with ongoing cost optimization and shared service center expansion.

Financial highlights

• Q3 revenues were EUR 237.4 million, down 5.2% year-over-year; Q1–Q3 revenues EUR 775.0 million, down 6.4%.

• Adjusted EBIT for Q3 was EUR 0.6 million (0.3% margin), up from -EUR 0.2 million last year.

• Free cash flow for the nine months was EUR 5.4 million, down from EUR 15.6 million last year.

• Net debt increased to EUR 131.1 million; equity ratio improved to 43.4%.

• Adjusted SG&A expenses reduced by 2.8% to EUR 256.6 million.

Outlook and guidance

• Management expects a single-digit percentage revenue decline for the full year 2025/26.

• Adjusted EBIT margin guidance narrowed to 2.5%–4%, with performance likely toward the upper third barring further escalation in the Middle East.

• Planned CapEx for the year is approximately EUR 50 million.

• Market environment remains challenging with ongoing geopolitical risks, delayed investment decisions, and unpredictable economic developments.