Jacquet Metals SA · EURONEXT:JCQ
Jacquet Metals SA — ODDO BHF NEXTCAP FORUM 2021
19 slides from Jacquet Metals SA's conference presentation, Jun 2, 2021
Slide 1: A European leader in the distribution of specialty steels
A European leader in the distribution of specialty steels ODDO BHF NEXTCAP FORUM – 2 & 3 June 2021
Slide 2: Positioning
Positioning Commodities steel market 94% Specialty steel market 6% Typology: Typology: Large volume Targeted application “Volumes” strategy “Margin” strategy Players: Players: 1.8 Bn Aperam Amari Metal tons Kloeckner Ta Chen International JACQUET METALS 2
Slide 3: Added value
Added value Suppliers JACQUET METALS Clients 20 specialty steels producers Purchasing prices 60 000 customers ± 50% of purchases Storage of specialty steels Average invoice < €3,000 Delivery time from 2 to 12 months Managing price fluctuations Delivery time ± 5 days Services & Logistics 3
Slide 4: Organization in divisions
Organization in 3 divisions JACQUET STAPPERT IMS group Asia & others 6% Germany 11% Germany 46% Outside Germany 42% Other Europe 2% Europe 25% France 11% Italy 10% €310m €440m €660m Netherlands 9% Outside Netherlands 6% Europe 1% France 12% Italy 7% Other Other France 5% Europe 12% Europe 45% North
Slide 5: Sectors
Sectors Stainless steel Engineering steel JACQUET STAPPERT IMS group Quarto plates Long products Machining plants Chemistry General mechanics Agri-food industry Transportation (railway sector, heavy Gas treatment and storage goods vehicles, etc.) Pharmaceutical industry Energy (wind turbines, etc.)
Slide 6: Specialty steels
Specialty steels 6
Slide 7: Group overview
Group overview Sales LTM : €1.4 bn 2,857 employees - 106 distribution centres - 25 countries Worldwide footprint Sales breakdown Outside Europe 2% Germany 38% Other Europe 25% France 10% North America 5% Netherlands 7% Italy 6% Spain 7% Q1.21 sales breakdown 7
Slide 8: Main development markets
Main development markets USA Germany Italy United Kingdom Asia 8
Slide 9: Q1 2021 solid performance
Q1 2021 Solid performance Sales €455m / +7.8 % vs Q1.20 Inventories €372m +€4m vs 2020 year-end EBITDA €35m / 7.8 % vs 3.9 % in Q1.20 CAPEX €5m Net income (Group share) €16m vs €0.2m in Q1.20 Gearing 24% vs 28% at 2020 year-end Divisions Sales EBITDA* IMS group 47% JACQUET STAPPERT IMS group JACQUET
Slide 10: Q1.21 metrics (1/2) Activity & results
Q1.21 metrics (1/2) Activity & results Sales JACQUET: +8.9% / €95m +7.8% STAPPERT: +9.7% / €144m IMS group: +6.2% / €210m In €m 6.6% 1.2% y.o.y. Sequential -3.2% -0.3% -3.1% -1.6% +7.8% 6.6% -1.6% -9.8% y.o.y. 1.2% -12.4% T1 20 T2 20 T3 20 T4 20 T1 20 -0.5% -1.7% -4.3% -24.4% -6.6% Q1 20 Q2 20 Q3 20
Slide 11: Q1.21 metrics (2/2) Solid financial position
Q1.21 metrics (2/2) Solid financial position Cash flows Gearing: 24% In €m Operating cash flow: +€23m Non-current assets (incl. goodwill €66m 222 In €m and real estate €98m) 106 -32 394 Shareholders’ equity 5 96 5 3 9 Net operating WCR (of which inventories €372m) 360 25.8% of sales 96 Net debt Prov
Slide 12: Appendices
Appendices
Slide 13: Income statement
Income statement €m Q1.20 Q1.21 Sales 413 445 Gross margin 94 116 In % of sales 22.8% 26.1 % Operating expenses (78) (82) Net depreciation and amortization (9) (9) Net provisions (1) 1 Gain on disposals of non-current assets 0 (0) Operating income 6 27 Net financial expense (4) (4) Income before tax
Slide 14: Current operating expenses
Current operating expenses (Adjusted operating income) +1.9% vs Q1.20 €89m +1.9% In €m 21.1% 19.9% 14
Slide 15: Balance sheet
Balance sheet €m 31.12.20 31.03.21 Goodwill 66 66 Net non-current assets 154 155 Right-of-use assets 70 67 Net inventory 368 372 Net trade receivables 135 210 Other assets 91 92 Cash 333 327 Total assets 1,217 1,289 Shareholders’ equity 373 394 Provisions (incl. provisions for employee benefit oblig
Slide 16: Borrowings as of March 31, 2021
Borrowings as of March 31, 2021 Solid financial position Group hold €327m of cash and €732m of lines of credit, 58% of which were used Authorized at Used at In €m % Used 31.03.2021 31.03.2021 Syndicated revolving loan 2023 125.0 5.0 4% Schuldscheindarlehen 2023 150.0 150.0 100% Schuldscheindarlehen
Slide 17: Stock market information
Stock market information 31.03.2021 Number of shares at end of period Shares 23,461,313 Market capitalization at end of period m€ 465 High € 20.75 Low € 13.44 Average daily trading volume Shares 25,250 Average daily traded capital € 436,267 Euronext Paris ISIN FR0000033904 17
Slide 18: Shareholder structure
Shareholder structure Shareholder structure of JACQUET METALS S.A. % capital (% voting rights) as of March 31, 2021 Éric Jacquet and JSA (which is 100% controlled by Éric Jacquet) held 41.30% of the share capital and 58.26% of the voting rights. Éric Jacquet / JSA 41.30% (58.26%) Others 35.86% (25.6
Slide 19: Euronext Paris ISIN: FR0000033904
Euronext Paris ISIN : FR0000033904