GEVELOT S.A.: ANNUAL GENERAL MEETING JUNE 12, 2025 PRESS RELEASE

PRESS RELEASE - 12 JUNE 2025

The Combined General Meeting held on June 12, 2025, approved the annual financial statements as well as the consolidated financial statements for the 2024 fiscal year.

All the Ordinary and Extraordinary Resolutions proposed by the Board of Directors were adopted.

The consolidated revenue for the 2024 fiscal year, primarily generated by the Pumps Sector (with the other sector related to the Holding's real estate activities), amounted to €138.1 million compared to €151.2 million in 2023, representing a decrease of 8.7%. At constant exchange rates, the decrease was 6%, mainly due to unfavorable changes in North American currencies.

The 2024 fiscal year was marked by significant commercial difficulties in the Middle East and Asia-Pacific regions, partially offset by stronger performances in Europe and North America. The Group also faced a less favorable product mix and underutilization of certain production capacities, particularly in Canada, resulting in unabsorbed fixed costs and exceptional provisions on inventories.

The net income attributable to Gévelot, the consolidating entity, for the 2024 fiscal year amounted to a profit of €3.3 million, compared to a profit of €13.3 million in 2023. This decline is mainly due to the contraction of current operating income, particularly linked to the weaker performance of the Pumps sector.

The parent company Gévelot recorded a positive result of €17.8 million in 2024, compared to €3.5 million in 2023, also a profit, thanks to the improvement in financial income. In 2024, this consisted primarily of a special dividend of €15.0 million received from PCM SA, compared to €2.3 million in 2023.

It was decided to distribute a dividend of €5.00 per share, payable as of June 20, 2025, the same amount as last year.

In a global environment marked by high financial market volatility, ongoing geopolitical tensions, and rising tariffs in the United States, the world economy faces growing uncertainties. These factors represent potential economic risks for our Group.

In response to this complex context, Gévelot reaffirms its ambitious development strategy, based on targeted investments in its commercial and industrial activities. These investments, though significant, are aimed at generating sustained growth and increased profitability over the medium and long term.

Backed by a solid financial structure, the company has the necessary resources to confidently continue implementing its strategic roadmap. Gévelot thus approaches the future with determination, in a spirit of sustainable, balanced, and controlled growth.

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