Innio N.v. · NASDAQ:INIO
Innio — Q3 2026 Earnings Presentation
38 slides from Innio's earnings presentation, Oct 27, 2026
Slide 1: Third Quarter 2026 Results
Accents 1 2 3 4 5 6 Hyperlink Followed Hyperlink INNIO Green (Darker for text ) INNIO Red INNIO Yellow INNIO Cyan Text Background 31 31 39 230 231 234 36 219 130 0 49 166 77 130 255 110 38 154 201 153 230 132 132 158 140 87 255 81 2 255 27 164 98 211 32 8 255 241 92 0 181 213 October 27, 2026 Third
Slide 2: Q3 2026 Results – Today's Agenda
Q3 2026 Results – Today’s Agenda 2 Business & Market Update Financial Discussion 01 02
Slide 3: Disclaimer – Forward-Looking Statements
© 2026 INNIO. All rights reserved 3 Disclaimer Forward - Looking Statements This presentation includes forward - looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 . All statements other than statements of historical fact conta
Slide 4: Business & Market Update
Accents 1 2 3 4 5 6 Hyperlink Followed Hyperlink INNIO Green (Darker for text ) INNIO Red INNIO Yellow INNIO Cyan Text Background 31 31 39 230 231 234 36 219 130 0 49 166 77 130 255 110 38 154 201 153 230 132 132 158 140 87 255 81 2 255 27 164 98 211 32 8 255 241 92 0 181 213 4 01 Business & Market
Slide 5: INNIO Q3 2026 key messages
© 2026 INNIO. All rights reserved 5 INNIO Q3 2026 key messages 1 Record $1.2bn revenue (+57% YoY) and $245m Adj. EBITDA 1 (+70% YoY) demonstrate profitable growth $8.0bn Equipment Order Backlog 1 (+142% YoY) and 3.3x LTM book - to - bill 2, driven by $2.2bn Q3 orders, confirming sustained high deman
Slide 6: Q3 commercial progress reinforces demand momentum and revenue visibility
6 Q3 commercial progress reinforces demand momentum, revenue visibility and future Services potential Follow - on Order Leading developer and operator of mega - scale data center campuses • Adds to 1.1 GW booked in Q2 • In Q3 entered long - term lifecycle service agreement for first 500 MW of previo
Slide 7: INNIO in numbers (LTM Q3'26)
© 2026 INNIO. All rights reserved 7 INNIO in numbers (LTM Q3’26) Note: All figures are as of 30th September 2026 (LTM values shown for financial figures). 1 Adjusted EBITDA and Adjusted EBITDA Margin are non - GAAP measures. Equipment Order Backlog and Equipment Order Intake are KPIs. Please see app
Slide 8: Multi-year revenue visibility from record backlog feeds Services flywheel
© 2026 INNIO. All rights reserved 8 Multi - year revenue visibility from record backlog feeds INNIO's high - margin Services flywheel A growing Installed Base is fu eling the Services business Fueled by myPla nt an d d ig it a l s o lu ti o n s Equipment revenues Long -te rm servic e M in or overh a
Slide 9: Six reasons why INNIO wins
Six reasons why INNIO wins 9 Modular deployment Minimal on - site work, scales with the campus Proven technology Decades of field experience with proven platform for continuous - duty applications Native AI performance Ability to follow rapid AI load swings with stable voltage and frequency Leading
Slide 10: Solving the power crunch with INNIO solutions
Electricity production Grid Prime power Consumer Backup power Gas productionC B Gas turbine Service Meter Electricity Grid Renewables Gas/coal, baseload Nuclear Peak, hybrid, baseload Gas extraction & transmission Gas Grid Diesel engine A Data center Solving the power crunch with INNIO solutions KEY
Slide 11: The U.S. grid faces lengthy expansion timelines and growing capacity constraints
The U.S. grid faces lengthy expansion timelines and growing capacity constraints The grid cannot meet rising power demand Up to 80 GW shortfall in firm capacity expected by 2030, increasing risk of reliability events Average U.S. grid connection waiting times 2000 - 2007 Current < 2yrs >6yrs >3x Sou
Slide 12: Gas engines outperform competing technologies across several use cases
Gas engines outperform competing technologies across several use cases Gas engine Simple cycle gas turbine Combined cycle gas turbine Fuel cell Fast start and transient load following 1 (Part load) efficiency 2 Fast and flexible deployment $$$$$$$$$$$Capex 12 Low redundancy requirement Fast deployme
Slide 13: As water usage makes headlines, INNIO's gas engines need almost none
As water usage makes headlines, INNIO’s gas engines need almost none 13Source: Company information based on internal and external sources, EPA, Electronic Code of Federal Regulations, public infor mat ion. Note: 1 Turbine data based on public reporting of turbine manufacturers . SOFC Fuel Cell data
Slide 14: Customers see INNIO as a long-term partner for power
© 2026 INNIO. All rights reserved Customers see INNIO as a long - term partner for power Our value proposition is recognized by customers and has led to multi - year commitments 14 Leading economics Recognized performance Long - term commitments 1 Customers commit to capacity well into the future No
Slide 15: Staying behind the meter is cheaper: gas engines run at half the marginal cost
© 2026 INNIO. All rights reserved 15 Even with grid access, staying behind the meter is cheaper: gas engines run at half the marginal cost Lasting reasons to stay behind the meter Installed engines are cheaper to run than grid power Even if the grid arrives, technological and cost advantages support
Slide 16: Diversified and expanding customer base of large projects
© 2026 INNIO. All rights reserved Diversified and expanding customer base of large projects Direct customer Energy - as - a- Service Providers Rental company Channel Partners Demand concentrated in one customer Industry / Oil & Gas Critical infrastructure Top customers by Equipment Order Intake 1,2G
Slide 17: Financial Discussion
Accents 1 2 3 4 5 6 Hyperlink Followed Hyperlink INNIO Green (Darker for text ) INNIO Red INNIO Yellow INNIO Cyan Text Background 31 31 39 230 231 234 36 219 130 0 49 166 77 130 255 110 38 154 201 153 230 132 132 158 140 87 255 81 2 255 27 164 98 211 32 8 255 241 92 0 181 213 17 02 Financial Discuss
Slide 18: Financial snapshot Q3'26 and '26 YTD
© 2026 INNIO. All rights reserved 18 Financial snapshot Q3’26 and ’26 YTD Increasing Equipment Order Backlog 1 and solid execution set the foundation for future accelerated growth Note: 1 Equipment Order Intake and Equipment Order Backlog are KPIs. Adjusted EBITDA, Adjusted EBITDA margin and Diluted
Slide 19: Continued topline growth and targeted capacity expansions drive long-term scale
© 2026 INNIO. All rights reserved Adj. Segment EBITDA ($m)Total revenue ($m) 19 Continued topline growth and targeted capacity expansions are driving long - term scale Q3 Adj. Segment EBITDA up 65%, ahead of revenue; YTD margin reflects Equipment mix and growth investments Record $1.2bn quarterly re
Slide 20: Equipment segment
© 2026 INNIO. All rights reserved 20 Equipment segment Data Center deliveries drive revenue growth • Revenue +86% YoY to $778m ; Data Center revenue grew from $38m to $463m and now makes up 60% of Equipment revenue • Order Intake¹ of $2.2bn, +10% on top of a record prior - year quarter, led by Data
Slide 21: Equipment order backlog more than doubles in first 9m of 2026
© 2026 INNIO. All rights reserved Equipment Order Backlog 1 ($bn) 21 Equipment order backlog more than doubles in first 9m of 2026 Equipment Order Intake 1 ($m) Future revenue underpinned by steady expansion of Equipment Order Backlog¹ Broad - based momentum across Data Center and Compression drivin
Slide 22: Services segment
© 2026 INNIO. All rights reserved 22 Services segment Our flywheel business model delivers profitable Services growth • Consistent conversion of strong Equipment sales into long - term high - margin Services business • Temporary growth - related investments mitigated by margin accretive parts vs. la
Slide 23: Our services business
© 2026 INNIO. All rights reserved Our services business Two models to serve our customers ~$1.5bn Services revenue 1 ~31% Adj. segment EBITDA margin 1 Spare parts Overhauls & repairs Upgrades & conversions Field service & commissioning Transactional Pay per part / service event Multi - year agreemen
Slide 24: Installed base drives long-duration service
© 2026 INNIO. All rights reserved Installed base drives long - duration service Services offering delivers value across multiple lifecycles Installed fleet ~44 GW per Dec 2025 Visible growth ~19 GW¹ Backlog & reserved slots + Cumulative services revenue per GW³ >$500m/GW at 10 years Illustrative ser
Slide 25: Operating leverage is driving strong Equipment margin expansion
© 2026 INNIO. All rights reserved 25 Operating leverage is driving strong Equipment margin expansion as volumes scale Adj. SG&A ratio 1,2 falls as revenue scalesSignificant margin ramp as Equipment grows Adjusted Segment EBITDA margin 2 Adj. SG&A as % of total revenue Q1’26 Q2’26 Q3’26 7.1% 13.8% 17
Slide 26: Shareholder return focused financial policy
© 2026 INNIO. All rights reserved 26 Shareholder return focused financial policy ● We do not intend to pay cash dividends in the near - term ● Return of capital to shareholders to be continuously assessed subject to market and other conditions RETURN CAPITAL ● Strong cash flow and EBITDA growth supp
Slide 27: Raising fiscal 2026 full-year guidance
© 2026 INNIO. All rights reserved 27 Raising fiscal 2026 full - year guidance Revenue ($m) Equipment ~52% Services ~48% FY25 A Equipment ~63% 2 Services ~37% 2 FY26 E $ 2,637 $3,900 - 4,000 +50% 2 Adj. EBITDA 1 ($m) FY25 A FY26 E $549 $780 - 800 3 +44% 2 FY26 guidance raised: accelerating revenue gr
Slide 28: Q&A
Accents 1 2 3 4 5 6 Hyperlink Followed Hyperlink INNIO Green (Darker for text ) INNIO Red INNIO Yellow INNIO Cyan Text Background 31 31 39 230 231 234 36 219 130 0 49 166 77 130 255 110 38 154 201 153 230 132 132 158 140 87 255 81 2 255 27 164 98 211 32 8 255 241 92 0 181 213 28 Q&A
Slide 29: Appendix
Accents 1 2 3 4 5 6 Hyperlink Followed Hyperlink INNIO Green (Darker for text ) INNIO Red INNIO Yellow INNIO Cyan Text Background 31 31 39 230 231 234 36 219 130 0 49 166 77 130 255 110 38 154 201 153 230 132 132 158 140 87 255 81 2 255 27 164 98 211 32 8 255 241 92 0 181 213 Appendix 29
Slide 30: Financial trending metrics
© 2026 INNIO. All rights reserved 30 Financial trending metrics Note: 1 Adjusted EBITDA and Adjusted EBITDA Margin are non - GAAP metrics. Please see the reconciliation and definition slides in this ap pendix for more information. INNIO ($ in millions, other than percentages) Q3'25 Q4'25 FY'25 Q1'26
Slide 31: Financial trending metrics by segment
© 2026 INNIO. All rights reserved 31 Financial trending metrics by segment Note: 1 Equipment Order Intake, Equipment Order Backlog and Power Delivered are KPIs. Please see the definition slides in this append ix for more information. Equipment Segment ($ in millions, other than percentages and GW) Q
Slide 32: INNIO's deleveraging path continues
© 2026 INNIO. All rights reserved 32 INNIO’s deleveraging path continues Note: 1 Adjusted EBITDA is a non - GAAP measure. Please see the reconciliation and definition slides in this appendix for more informatio n. Indebtedness 2,659 2,634 2,619 2,611 Cash and Cash Equivalents (690) (841) (1,040) (1,
Slide 33: Reconciliation of GAAP net income to Cash Conversion and Free Cashflow Conversion
© 2026 INNIO. All rights reserved 33 Reconciliation of GAAP net income to Cash Conversion and Free Cashflow Conversion Note: In $Millions unless otherwise stated. 1 Adjusted EBITDA is a non - GAAP measure. Please see the reconciliation and definition slides in this appendix for more informatio n. 2
Slide 34: Reconciliation of GAAP EPS to Adjusted EPS
© 2026 INNIO. All rights reserved 34 Reconciliation of GAAP EPS to Adjusted EPS Note: In $Millions unless otherwise stated. 1 Adjusted taxes for the three months ended September 30, 2026 reflected an apparent 100% effective tax rate, which resulted fr om the mathematical impact of the difference bet
Slide 35: Reconciliation of Adjusted Segment EBITDA to net income
© 2026 INNIO. All rights reserved 35 Reconciliation of Adjusted Segment EBITDA to net income Note: In $Millions unless otherwise stated. 1 Transformation costs include costs in a given year incurred in relation to significant operational change initiatives and the ramp up of supply chain capacity. T
Slide 36: Reconciliation of Adjusted SG&A
© 2026 INNIO. All rights reserved 36 Reconciliation of Adjusted SG&A Note: In $Millions unless otherwise stated. 1 Transformation costs include costs in a given year incurred in relation to significant operational change initiatives and the ramp up of supply chain capacity. This includes the ramp up
Slide 37: Glossary
© 2026 INNIO. All rights reserved 37 Glossary Term Category Definition FTEs General Full time equivalents . We define FTEs as each of our employees or employees of record, which are employees hired on behalf of us by a third -party organization, excluding interns, contractors, apprentices, passive e
Slide 38: Accents Hyperlink Followed Hyperlink INNIO Green (Darker for text ) INNIO Red INNIO Yellow
Accents 1 2 3 4 5 6 Hyperlink Followed Hyperlink INNIO Green (Darker for text ) INNIO Red INNIO Yellow INNIO Cyan Text Background 31 31 39 230 231 234 36 219 130 0 49 166 77 130 255 110 38 154 201 153 230 132 132 158 140 87 255 81 2 255 27 164 98 211 32 8 255 241 92 0 181 213 38