Jacquet Metals (JCQ) Investor presentation summary

Business overview

• Operates as a major distributor of special metals with a global presence in 24 countries and 119 distribution centers.

• Employs 3,336 people and serves 65,000 customers, with average invoice values under €3,000.

• Sales reached €1.4bn for the first nine months of 2025, with Germany, other Europe, and North America as key markets.

• Three main divisions focus on stainless steel quarto plates, long products, and engineering metals.

• Supplies are sourced from 20 main suppliers, with 75% of materials coming from recycled metals.

Financial performance

• Sales declined by 7.5% year-over-year to €1,427m, with volumes sold down 2.3%.

• Gross margin improved to 23.5% from 21.4% in the previous year.

• EBITDA rose to €71m (4.9% of sales), and net income (group share) was €9m.

• Operating cash flow was €60m, with capital expenditure at €16m.

• Gearing ratio slightly improved to 26% from 27% at year-end 2024.

Balance sheet and liquidity

• Net debt stood at €170m as of September 30, 2025, with shareholders' equity at €650m.

• Inventories accounted for €567m of net operating working capital requirements.

• Cash position was €169m, with €742m in credit lines, 46% of which were utilized.

• Major borrowings include syndicated loans and Schuldscheindarlehen maturing between 2028 and 2030.

• Listed on Euronext Paris under ISIN FR0000033904.