Mission Statement, Vision, & Core Values (2026) of Société Industrielle et Financière de l'Artois.

Société Industrielle et Financière de l'Artois (SIFA), listed on Euronext Paris as ARTO.PA, steers a portfolio anchored by Automatic Systems and IER while balancing industrial growth and financial prudence: in H1 2025 consolidated revenue stood at €66.2 million (a 15% decline vs. H1 2024) as Automatic Systems faced a Public Transport slowdown and Indestat activities were reclassified, leading to an operational result of ‑€8.3 million and a net result of €2.6 million, supported by a robust net cash position of €647 million and equity of €2.178 billion (down €163 million since end-2024); for full-year 2024 the group reported consolidated revenue of €161 million (up 1% YoY) with an improved operational loss of €3 million after Automatic Systems' recovery post-cyberattack, while strategic moves including Bolloré SE's public buyout offer-revised to €10,627 per share (+14.27%) with an exchange option of 453 UMG shares for 1 SIFA share-underscore the high-stakes landscape in which SIFA pursues its mission of long-term value creation, diversification, operational excellence, transparency and disciplined governance.

Société Industrielle et Financière de l'Artois (ARTO.PA) - Intro

• Primary holdings: Automatic Systems (pedestrian & vehicle access security), IER (airport equipment)
• Listing: Euronext Paris - ARTO.PA
• Key market exposure: Benelux, United Kingdom, North America

• Preserve and grow long‑term shareholder value through strategic industrial investments.
• Support portfolio companies in technological leadership (access control, airport automation) and geographical expansion.
• Maintain financial solidity and capital flexibility to act on opportunities and protect against cyclical risks.

• Be a reference European industrial investor enabling market leaders in security and mobility solutions to scale globally.
• Leverage financial strength (net cash) to finance innovation, M&A, and resilience against sector shocks.
• Combine operational stewardship with selective financial investments (including potential share-exchange opportunities) to maximize long-term returns.

• Prudence: conservative balance sheet management; preservation of net cash.
• Support for industrial excellence: active backing of portfolio companies' technological and commercial development.
• Transparency: regular disclosure of financials and material corporate actions.
• Long-term orientation: investment horizon that tolerates short-term volatility to capture structural gains.

• Revenue decline in H1 2025 (-15% year‑on‑year) mainly due to reclassification of Indestat activities to Polycea and slowdown in Public Transport orders at Automatic Systems.
• Stable demand maintained for pedestrian and vehicle access security equipment; growth pockets in Benelux and UK markets and resilient North American activity for Automatic Systems noted in FY 2024.
• Operational profitability hurt by Automatic Systems' challenges and unfavorable geographic mix; FY 2024 showed recovery versus 2023 (operational loss improved from -€7M to -€3M) driven by post‑cyberattack recovery.
• Financial result decreased (from €17.6M to €13.4M) reflecting lower interest-income environment.

• Strong liquidity position: net cash of €647M as of June 30, 2025 supporting investment optionality and downside protection.
• Equity down €163M from end‑2024 to €2,178M (June 30, 2025), mainly driven by lower stock market valuations impacting valuation reserves.
• Identified uncertainties: market demand volatility (Public Transport), geographic mix risk, interest-rate sensitivity on financial income, and exposure to equity market fluctuations.

• Public buyout offer initiated by Bolloré SE on September 12, 2024; modified December 23, 2024 to an increased price of €10,627 per share (a 14.27% rise from the initial price) with an exchange option for Universal Music Group (UMG) shares at a new ratio of 453 UMG shares for 1 SIFA share.

• Order intake and backlog evolution at Automatic Systems (Public Transport vs. access security segments)
• IER commercial recovery trajectory and margin normalization
• Net cash trajectory and potential use (dividends, buybacks, M&A)
• Market valuation trends affecting equity and potential corporate transactions

Société Industrielle et Financière de l'Artois (ARTO.PA) - Overview

• Value creation via active portfolio management and operational support to subsidiaries.
• Promotion of innovation and operational excellence to strengthen competitive positions.
• Financial prudence and rigorous risk management to preserve balance‑sheet strength.
• Transparent communication and strong corporate governance to maintain investor confidence.

• Sector diversification to reduce single‑industry cyclicality.
• Geographic spread to balance regional macro risk.
• Active portfolio rebalancing to seize value and de‑risk when appropriate.

Société Industrielle et Financière de l'Artois (ARTO.PA) - Mission Statement

La mission de Société Industrielle et Financière de l'Artois (ARTO.PA) est de créer de la valeur durable pour ses actionnaires en constituant, pilotant et accompagnant un portefeuille d'activités industrielles et financières à forte capacité de création de cash-flow. Cette mission structure les décisions d'investissement, la gouvernance des participations et l'allocation de capital.

• Consolider une plateforme d'investissement long terme axée sur la résilience financière et la croissance rentable.
• Dynamiser les filiales par un accompagnement stratégique et opérationnel pour accélérer leur développement international.
• Préserver une structure financière saine pour saisir les opportunités et absorber les chocs cycliques.
• Promouvoir des pratiques responsables et éthiques, intégrant impacts sociaux et environnementaux dans les décisions.

Vision Statement

Société Industrielle et Financière de l'Artois (ARTO.PA) se positionne comme une holding d'investissement de référence, reconnue pour sa clairvoyance stratégique, son excellence opérationnelle et son engagement en faveur d'une croissance durable. Cette vision oriente :

• La recherche d'un portefeuille équilibré, visant des rendements réguliers tout en maîtrisant le risque.
• L'amélioration continue de la valeur des participations via l'innovation et l'expansion géographique - l'exemple d'Automatic Systems en Amérique du Nord illustre l'impact d'un soutien ciblé aux filiales.
• La constitution d'une culture d'entreprise fondée sur l'intégrité, la responsabilité et la collaboration pour aligner les objectifs des différentes entités.
• La responsabilité sociétale et environnementale comme levier de réputation et de confiance auprès des parties prenantes.

Core Values

• Intégrité - gouvernance transparente et conformité aux meilleures pratiques.
• Responsabilité financière - discipline d'allocation du capital et préservation d'une trésorerie robuste (€647M au 30/06/2025).
• Orientation performance - KPI clairs, reporting rigoureux et pilotage par la performance opérationnelle.
• Innovation et apprentissage - soutien à la R&D et à la montée en compétences des filiales pour conquérir de nouveaux marchés.
• Collaboration - synergies interfiliales et gouvernance permettant l'alignement stratégique.
• Engagement durable - intégration des enjeux ESG dans la création de valeur.

Pour un panorama plus complet de l'histoire, de la mission, de la structure actionnariale et du modèle économique, voir : Société Industrielle et Financière de l'Artois: History, Ownership, Mission, How It Works & Makes Money

Société Industrielle et Financière de l'Artois (ARTO.PA) - Vision Statement

• Strategic foresight: anticipating market shifts to preserve and grow intrinsic portfolio value.
• Operational excellence: driving margin improvement and efficiency across subsidiaries.
• Financial prudence: maintaining conservative leverage and strong liquidity buffers.
• Diversification: balancing sector exposure across industrial, safety, technology and financial assets.
• Transparency and governance: upholding high standards in reporting, compliance and board oversight.
• Sustainability and social responsibility: integrating ESG principles into capital allocation and operations.

• Preserve and increase shareholder value via active portfolio management and targeted investments.
• Support subsidiaries in scaling innovations, entering new geographies and improving operational metrics.
• Maintain a sound balance sheet with prudent debt ratios and disciplined dividend policy.
• Foster a governance culture that ensures regulatory compliance and ethical conduct across subsidiaries.
• Embed sustainability into investment decisions, aiming to reduce carbon intensity and enhance social impact.

• Board structure: independent directors, audit and remuneration committees to ensure oversight.
• Compliance framework: policies covering anti-corruption, data protection, export controls and financial reporting.
• Stakeholder transparency: regular investor communications, audited financials and adherence to market disclosure rules.

• ARTO.PA encourages subsidiaries to innovate in product design, digitalization and business models to maintain competitiveness.
• Automatic Systems - an ARTO.PA portfolio company - demonstrated resilience after a cyberattack, restoring operations while updating cyber defenses and continuity plans to protect customers and revenue streams.
• Investment in R&D and cybersecurity is prioritized where it materially reduces operational risk and enables new market entry.

• Active portfolio management: sell non-core assets, reinvest proceeds into higher-return opportunities.
• Operational upgrades: lean manufacturing, digital transformation, procurement synergies.
• Financial engineering: optimize capital structure to fund growth while protecting liquidity.
• Cross-portfolio collaboration: share best practices, group purchasing and joint go-to-market initiatives.