SOL Group (SOL) Corporate Presentation summary

Company overview

• Founded in 1927, SOL Group operates in 32 countries with 6,372 employees and 122 production plants, serving 650,000 home care patients and offering 90 gas applications across industries.

• Business segments include technical gases (40%), home care (48%), and health care (60%), with applications in manufacturing, food, agriculture, hospitals, and home care.

• International expansion includes recent entries into India, Brazil, and China, and significant M&A activity in Europe, South America, and Asia.

Financial performance

• 2023 sales reached €1,487 million, with a CAGR of 8% since 1992 (6% organic, 2% M&A), and EBITDA of €382 million (25.7% margin).

• Net profit for 2023 was €145.7 million, with EPS of €1.61, and ROCE maintained above 14%.

• Capex/sales ratio remained around 10%, net debt/EBITDA at 1.09, and dividend per share continued to grow.

• Total assets at year-end were €1.94 billion, with shareholders’ equity of €928.6 million.

Business segments and growth

• Technical gases serve diverse sectors: metal fabrication, food, environment, oil & gas, chemicals, and hospitals, with resilient sales and a 7% CAGR.

• Home care (Vivisol) serves 650,000 patients, with a 17% CAGR in patient numbers and 10% CAGR in sales, focusing on oxygen therapy, ventilation, nutrition, and telemedicine.

• M&A in 2022/23 included €137 million in joint ventures and partnerships, reinforcing and diversifying presence in key markets.