Solutions 30 (S30) AGM 2025 summary

Opening remarks and agenda

• The AGM was convened in compliance with Luxembourg law, with formalities for attendance and voting explained, including proxy and correspondence options.

• The agenda included management and auditor reports, approval of annual and consolidated accounts, allocation of income, board discharges, board member elections, auditor appointments, and remuneration matters.

• Emphasis on adaptability to technological changes and strategic rebalancing of activities, both geographically and sectorially.

Financial performance review

• 2024 sales reached EUR 996 million, down 5.8% from 2023, reflecting a strategic focus on margins over growth.

• Adjusted EBITDA margin improved to 7.5%, with adjusted EBITDA up 0.7% to EUR 75.1 million.

• Net free cash flow turned positive at EUR 5.9 million, and net bank debt was nearly zero at EUR 0.8 million.

• Consolidated net loss was EUR -15.8 million, but adjusted net income (excluding amortization) was EUR 6.0 million, showing recovery.

• Energy segment grew by 28.4%, now representing 20% of revenue; Germany saw 33.6% growth.

Board and executive committee updates

• The Supervisory Board maintained seven independent members, with changes in chairmanship and committee leadership.

• Board diversity: 43% women, 100% independent, four nationalities represented.

• Two new board members, Olivier Domergue and Maria Zesch, were proposed to strengthen expertise in energy and digital transformation.

• The board and its committees met 26 times in 2024, with a 100% attendance rate, reflecting strong governance commitment.

• Key board activities included financial reviews, long-term incentive plan approval, and governance enhancements.