Framery (FRAMERY) Investor update summary

Listing plans and offering structure

• Plans to list on the main stock exchange to support growth strategy and strengthen capital structure.

• Aims to raise approximately €20 million in gross proceeds through a share issue.

• Some existing shareholders will offer shares for sale.

• Listing targets broader ownership, increased liquidity, and improved market access.

Financial performance and guidance

• Revenue for 1.1.–30.9.2025 was €164 million, with 46% growth year-on-year.

• Adjusted EBIT margin for the same period was 24%.

• 2025 guidance: revenue €214–226 million, adjusted EBIT €48–54 million.

• Medium-term targets: over 10% average annual organic revenue growth, 25% adjusted EBIT margin, net debt/EBITDA below 2.0x, and dividend payout of 70–90% of net profit.

Market position and growth

• Global market leader in soundproof workspaces in core markets, with a 17–19% market share in 2023.

• Core markets include the US, Canada, Western Europe, Singapore, Hong Kong, and Australia.

• Market for soundproof workspaces expected to grow at 15% CAGR to €2.0 billion by 2030; smart office systems at 12% CAGR to €3.0 billion.

• Outpaced core market growth with a 22% CAGR (2023–2025E).