Label'vie Sa · CSEMA:LBV
Label'vie Sa — H1 2025 Earnings Presentation
20 slides from Label'vie Sa's earnings presentation, September 2025
Slide 1: H1 2025 Results
H1 2025 Results September 2025
Slide 2: Macroeconomic Context, Key Highlights, Key Performance Indicators, Outlook
Macroeconomic Key Highlights Key Performance Outlook Context and Achievements Indicators H1 2025 H1 2025
Slide 3: Macroeconomic Context
Macro = Wi economic Context RU I | kn \ N } Ve JA. LabelVie \ GROUPE
Slide 4: Macroeconomic Context: Environment Conducive to Growth
Macroeconomic Context A MACROECONOMIC ENVIRONMENT CONDUCIVE TO GROWTH GDP Growth GDP growth: 2025 forecast revised upward from 3.8% at the beginning of the year to 4.4%. GDP rose by 4.6% in Q2 4.8% 2025 YoY, driven by 4.6% services, construction, 4.3% 4.4% 4.4% extractive industries, and agricul
Slide 5: Return to Normalized Inflation and Recovery in Consumer Confidence
Macroeconomic Context RETURN TO NORMALIZED INFLATION AND RECOVERY IN CONSUMER CONFIDENCE Inflation Evolution H1 2025 vs H1 2024 Consumer Confidence Index CPI Trend Food Price CPI Forecast (Historical) Inflation (Outlook) 68 66 3.4% 63 Back to pre-Russia/Ukraine 61 conflict levels 2.1% 55 2.0% 54 1.6
Slide 6: Key Highlights and Achievements H1 2025
02 Key Highlights and Achievements H1 2025 6
Slide 7: 44 New Openings
44 New Openings PRIMARILY SUPECO, WITH FASTER ROLLOUT AHEAD IN H2 2025 2024 H1 2025 Retail Space Retail Space Store Count // Openings sqm sqm 70,785 13 70,785 115,921 103 115,921 22,239 54 22,239 11,847 125 (+44 Stores) 18,318 86,814 19 86,814 307,606 314 (+44 Stores) 314,077 7
Slide 8: Key Performance Indicators H1 2025
03 Key Performance Indicators H1 2025 8
Slide 9: Key Performance Indicators - H1 2025
Key Performance Indicators - H1 2025 Evolution vs. H1 2024 In MADm H1 2024 H1 2025 Amount % RETAIL SALES (Excl. gas sales and real estate development) 6,612 7,492 +879 +13.3% SALE OF GOODS 6,931 7,715 +785 +11.3% SALE OF GOODS AND SERVICES 852 1,012 +160 +18.8% as % of Sales 12.3% 13.1% +0.8 REVENUE
Slide 10: Retail Sales: Performance by Format
Retail Sales* PERFORMANCE BY FORMAT Sales Sales Sales Sales Sales Sales 1,788m 2,324m 292m 150m 2,938m 7 492 MDH Growth Growth Growth Growth Growth Growth +8.5% +8.0% +25.2% +237.7% +15.9% +13.3% LFL LFL LFL LFL LFL LFL +3.5% +3,0% +12,5% -0,4% +1,9% +3,0% As % of Sales As % of Sales As % of Sales A
Slide 11: Retail Sales: Contribution by Format
Retail Sales* CONTRIBUTION BY FORMAT 402 7,492 105 59 172 +13.3% Growth 141 +3.0% (12%) LFL 2,938m 150m Sales 6,612 292m Sales 2,324m Sales +15.9% Sales +237.7% Growth 1,788m (16%) +25.2% Growth Sales +8.0% Growth +1.9% +8.5% Growth -0.4% LFL +12.5% LFL Growth LFL +3.0% 46% of Sales +3.5% LFL 7% of
Slide 12: Retail Sales: Contribution by Scope
Retail Sales* CONTRIBUTION BY SCOPE +880m +13.3% 653 27 7,492 +0.3% ▲ 199 +2,6% 6,612 +10% +3.0% * Excl. gas sales and real estate development 12
Slide 13: Gross Margin
Gross Margin Direct Margin Back Margin Gross Margin +7.6% +18.8% +13.7% 1 782 1,782 1,012 1 012 770 770 1 568 1,568 716 23.1% 716 852 852 13.1% 10.0% 22.6% 10.3% 12.3% H1 S1 2024 H1 S1 2025 H1 S1 2024 H1 2025 S1 2025 H1 2024 S1 2024 H12025 S1 2025 13
Slide 14: EBITDA
EBITDA +56m +9.5% 644m 8.5% 8,3% Of Sales Of Sales H1 2025 8.3% of Sales +13.7% gross margin growth Continued cost discipline, helping to preserve operating profitability. H1 2024 Direct Back OPEX H1 2025 EBITDA Margin Margin EBITDA 14
Slide 15: Financial Result
Financial Result STRONG IMPROVEMENT EXCLUDING ONE-OFF IN 2024 85 +49% 74 Terramis one-off gain 74m Dividends received H1 2025 36 Other financial income & expenses Financial Result 143 Bond interest expense 131 Bank debt cost 37 57 H1 2024: Exceptional gain of MAD 36m -48 -52 from the Terramis cash
Slide 16: Financial Structure
Financial Structure 2.8x 2.8x ND/EBITDA ND/EBITDA1 Operating Cash Flow: 928m -320 -4,114 -3,973 -751 -1 -96 -21 644 328 74 Free cash flow: 177m FY 2024 EBITDA Change Financial Taxes Non-recurring Capex Dividends Other H1 2025 Net Debt in WC2 Items items paid Items Net Debt 1. LTM EBITDA 2. adjusted
Slide 17: Outlook
04 Outlook 17
Slide 18: 2025 Outlook
2025 Outlook In line with 15% to 20% > MAD 19Bn 2028 Vision Expansion in total Revenue target of ≈9.3% Retail Space EBITDA Ratio 18
Slide 19: Strategic Plan 2024-2028
Strategic Plan 2024–2028 Multiply our Double Maintain high Preserve our store count by 5 our Sales profitability financial solidity (MAD Bn) (EBITDA in MAD Bn, % of Sales) (Net Debt Ratio) Focus on CAGR: 27.9 9.3% 9.3% Proximity 53% 953 +14.5% formats 44% 2.6 14.2 1.3 179 2023 2028 2023 2028 2023 20
Slide 20: 20
20