Company: VRT
Filing Date: 2025-10-22
Form Type: 10-Q
Source: 0001674101-25-000024
Chunk: 60

Company: Vertiv Holdings Co
Filing Date: 2025-10-22
Form: 10-Q
Item: Part I, Item 1
Chunk 60
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 months ended September 30, 2025Three months ended September 30, 2024$ Change% ChangeNet sales$443.6 $442.5 $1.1 0.2 %Operating profit (loss)83.5 114.4 (30.9)(27.0)Margin18.8 %25.9 %

Europe, Middle East & Africa net sales were $443.6 in the third quarter of 2025, an increase of $1.1, or 0.2%, from the third quarter of 2024. The increase in sales was primarily driven by the positive impact of foreign currency of approximately $18.8 compared to the third quarter of 2024. Net sales of products increased by $3.6 and service & spares decreased by $2.5.

Operating profit (loss) in the third quarter of 2025 was $83.5, a decrease of $30.9, or (27.0)%, compared with the third quarter of 2024. Margin decreased primarily due to the mix of product and service sales and operational inefficiencies.

Vertiv Corporate and Other

Corporate and other costs include costs associated with our headquarters located in Westerville, Ohio, as well as centralized global functions including Finance, Treasury, Risk Management, Strategy & Marketing, IT, Legal, Human Resources, and global product platform development and offering management. Total corporate and other costs were $88.9 and $45.0 in the third quarter of 2025 and 2024, respectively. Total corporate and other costs increased $43.9 compared to the third quarter of 2024 primarily due to a $31.1 increase in restructuring costs, an increase in certain employee related costs and a decrease in the foreign currency loss of $4.4.

27

Comparison of the Nine Months Ended September 30, 2025 and Nine Months Ended September 30, 2024

(Dollars in millions)Nine months ended September 30, 2025Nine months ended September 30, 2024$ Change% ChangeNet sales$7,349.9 $5,665.4 $1,684.5 29.7 %Cost of sales4,756.1 3,601.4 1,154.7 32.1 Gross profit2,593.8 2,064.0 529.8 25.7 Selling,