POUJOULAT SA: Poujoulat Group – Fiscal year 2021/2022 results – 07/21/2022 at 6:30 p.m.

Results for the 2021/2022 financial year: profitability in line with the group’s ambitions

Paris, July 21, 2022 at 6:30 p.m.

The Poujoulat Group closes its financial year with growth of 23%. Profitability is progressing and reaches nearly 5% in line with objectives. The group is thus back to its historic levels after several years of lower profitability.

Group consolidated results – ANC 2020-01 – (in thousands of euros)

In an increasingly uncertain economic environment, the Poujoulat Group performed well.

The 2021/2022 financial year was marked in particular by:

• A sharp rise in raw materials, partly and gradually passed on to customers;

• Significant growth in volumes sold;

• Good control of structural loads;

• Sustained activity on the energy renovation markets in a context of high conventional energy price inflation;

• The acquisition of Bois Bûche Center Atlantique in July 2021;

• The commissioning, in February 2022, of the Lorraine Pellets plant (in which Euro Energies, a subsidiary of Poujoulat SA is a co-shareholder) with a capacity of 75,000 tonnes of pellets;

• Capital increase of €20 million in the Euro Energies subsidiary subscribed by Poujoulat SA, Océan Participations and Volney Développement

• The drop in the long-term debt/equity ratio of 9 points despite a sustained level of investment;

• The creation of more than 100 new jobs.

Outlook 2022/2023

The period that is beginning is marked by an economic slowdown, still significant pressure on supplies and high inflation in the price of materials and inputs. In addition to steels, sharp increases have recently impacted other materials, components, packaging and energy in general. As a result, the Group had to make the price adjustments necessary to ensure its supplies and preserve its margins. At this stage, the war in Ukraine is having a limited impact on the Group’s markets, but it is generating additional pressure on supplies and their costs. In addition, the rise in interest rates is also weakening the recovery observed since 2021 in new construction. Across Europe, building permit applications are declining even though the need for new housing remains high.

Despite these tensions, the Poujoulat Group enjoys good visibility on its main markets, particularly in renovation, energy efficiency and renewable energies (notably wood energy). Regulations and support systems stimulate investment by individuals and businesses looking for energy diversification solutions. The Poujoulat Group has assets and strong growth potential to support its markets.

To respond to this growth, the Poujoulat Group has launched a significant investment plan over 3 years which will concern all of its businesses. The objectives sought are the increase in industrial and logistical capacities, the improvement of productivity, the acceleration of the digital transformation of our activities, but also the greening of our energy mix. A major effort will also be devoted to training and learning to strengthen the skills and safety of our teams and meet the challenges of transforming the Group’s companies.

Finally, the POUJOULAT Group will continue its CSR efforts, in accordance with its long-term strategy.

At the end of June 2022 (1

^er

quarter of the 2022/23 financial year), the growth of the Poujoulat Group is over 30%.

Frédéric COIRIER, Chairman and CEO of the group declares:

“Our objective for the 2022/2023 financial year is to increase our consolidated turnover by around 25%, it should approach €380 million. The chimney flues and industrial chimneys branch should grow by 20% and the wood energy branch by 50%. In terms of results, we are aiming for a level of profitability close to that of the previous financial year, ie an EBITDA of approximately 10% and a net result close to 5%. »

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