Solutions 30 (S30) AGM 2024 summary

Opening remarks and agenda

• The AGM was opened with a welcome to shareholders and an overview of participation modalities, including online streaming and voting procedures.

• The agenda included financial and management reports, approval of accounts, allocation of results, board discharges, auditor appointments, remuneration, LTIP, and share buyback authorization.

Financial performance review

• 2023 revenues surpassed EUR 1 billion, marking a 16.8% increase, with Benelux driving 72% growth.

• Adjusted EBITDA rose by nearly 60% to EUR 74.6 million, with margins improving to 7.1%.

• Net result was a loss of EUR 22.7 million, halved from 2022, with a break-even achieved in H2.

• Cash flow from operations nearly doubled, but overall cash position declined due to non-recurring outflows.

• The balance sheet remains robust, with a net cash position of EUR 5.7 million and low net debt ratios.

Board and executive committee updates

• The Supervisory Board consists of seven independent members from four countries, with 43% women.

• Paola Bruno joined as an independent member, and the board convened 22 times in 2023 with high attendance.

• Management Board was reorganized, reducing to four members, and new COO and Secretary General appointed.