Financial Performance Highlights - Revenue increased by 2.5% to €887 million in 9M'25 compared to €865 million in 9M'24 [8, 45] - Order intake increased sharply by 4.6% to €771 million in 9M'25 from €737 million in 9M'24 [8, 33] - Adjusted EBITDA increased by 2.5% to €142 million in 9M'25 compared to €138 million in 9M'24, with a stable EBITDA margin of 16.0% [10, 48] - Net backlog increased by 1.9% year-over-year and 4.5% compared to June 30, 2025, reaching €795 million [9, 29] - Net profit decreased slightly by 1.9% to €61 million in 9M'25 from €62 million in 9M'24 [47] Order Intake Dynamics - Order intake in Q3'25 increased by 36% year-over-year, driven by the European boat show season, reaching approximately €304 million [29, 35] - Made-to-measure yachts accounted for 55% of total order intake in 9M'25, showing a significant increase of 31.9% year-over-year [37, 56] - Order intake from Europe increased significantly by 32.3% in 9M'25 compared to 9M'24 and 89% in Q3'25 compared to Q3'24 [41, 43] Business Operations - The company launched 3 new products in Q3'25, including 2 range expansions and 1 range update [18] - Capex for 9M'25 was approximately €64 million, and the full-year 2025 capex is expected to be below €90 million [50, 56] - Negotiations for potential orders are up 48% year-over-year, reaching approximately €430 million, providing solid visibility ahead of the USA Boat Show season [35, 58] Market Outlook and Guidance - The company confirmed its 2025 annual guidance, with net revenue expected to be between €1,220 million and €1,240 million and adjusted EBITDA between €201 million and €207 million [59]

Financial Performance - Revenue increased by 1.5% YoY, reaching €620 million in H1'25 compared to €611 million in H1'24 [8, 39] - Adjusted EBITDA grew by 2.5% YoY, reaching €99 million in H1'25 compared to €97 million in H1'24 [8, 41] - Adjusted EBITDA margin increased by 20 bps to 16.0% in H1'25 from 15.8% in H1'24 [8, 41] - Net backlog decreased by 3.2% YoY, from €786 million in H1'24 to €761 million in H1'25 [8, 25] Order Intake - Overall order intake decreased by 9.2% YoY, from €514 million in H1'24 to €467 million in H1'25 [28] - Composite Yachts order intake decreased by 32.7% YoY [32] - Made-to-measure Yachts order intake decreased by 0.4% YoY [32] - Super Yachts order intake decreased by 7.2% YoY [32] Geographical Performance - Order intake in Europe increased by 3.8 million YoY [32] - Order intake in AMAS decreased by 21.9% YoY [35] - Order intake in APAC increased by 82.9% YoY [35] Revenue Breakdown - Revenue from Made-to-measure Yachts increased by 8.6% YoY, from €233.1 million in H1'24 to €253.1 million in H1'25 [39] - Revenue from Super Yachts increased by 26.5% YoY, from €82.5 million in H1'24 to €104.4 million in H1'25 [39]