Actia Group · EURONEXT:ALATI
Actia — H1 2022 Earnings Presentation
51 slides from Actia's earnings presentation, Sep 21, 2022
Slide 1: 2022 Half-Year Results
2022 HALF-YEAR RESULTS Presentation for investors| 21 September 2022 Investor Presentations - September 2022
Slide 2: Identity & Key Figures
IDENTITY & Key Figures Created in 1986 Family-run, H1 2022 consolidated turnover: 16 % 3,550 independent €248.5 million of turnover invested in R&D staff worldwide Mid-Sized Business (MSB) over 1,200 engineers (listed on Euronext Paris, Compartment C) Investor Presentations - September 2022 2
Slide 3: An International Group
AN INTERNATIONAL GROUP 28 sites - 16 countries France • Germany • Spain • Italy • Poland • Czech Republic • Sweden • UK • Belgium • Tunisia • India • China • Japan • USA • Mexico • Brazil 3 14 1 5 2 1 1 1 Investor Presentations - September 2022 3
Slide 4: Our Markets
OUR MARKETS AERONAUTICS SPACE & DEFENCE TELECOM NETWORKS & Know-how RAIL ENERGY/SMARTGRID OFF-HIGHWAY INDUSTRY OUR MARKETS Our Know-how BUSES & COACHES Satellite communications Network Architecture & Telecom Infrastructure Train/ground transmission & Trackside security Network supervision & Control
Slide 5: Activities in H1 2022
ial : a tA: ACTIVITIES IN H1 2022
Slide 6: H1 2022 Growth and debt reduction
H1 2022 Growth and debt reduction Shortage that overshadows the ongoing Turnover Growth severely impacted contract wins of previous years High level of sales €248.5 million by the component shortage: around 20 % of activity with many +14.9 %* orders subject to international calls for Discussions and
Slide 7: Automotive OEM Activities in H1 2022
AUTOMOTIVE OEM* Activities in H1 2022 Analyses are based on a comparison with the 2021 adjusted data Change in turnover from OEM activities per customer category in H1 2022 (in € millions and %) AUTOMOTIVE (19.3) +10.7 (0.1) 0 +0.2 €157.6 €148.3 +3.6 €213.8 million million +6.4 Off Road Rail Sea Mot
Slide 8: Automotive Aftermarket and MDS activities in H1 2022
AUTOMOTIVE Aftermarket* and MDS** activities in H1 2022 €18.3 million AFM* (9.4 %) ▪ Decrease due entirely to the divestment of the Vehicle Inspection and Garage Equipment business in late April ▪ Fleet management (3.8 % of sales in the division): +9.8 % 7.3 % of turnover in H1 2022 €37.9 M ▪ Home a
Slide 9: Telecommunications Activities in H1 2022
TELECOMMUNICATIONS Activities in H1 2022 ▪ SatCom: €34.6 million ✓ Turnover: €17.6 million (+70.3 %) +27.8 % TELECOMMUNICATIONS ✓ Growth partly linked to efforts to make up for delays to the Egyptian contract sustained in 2020 and 2021 ✓ Sales activity remains buoyant : some calls for tender should
Slide 10: H1 2022 Results
ial : a tA: H1 2022 RESULTS
Slide 11: Financial Data Introduction
FINANCIAL DATA Introduction Given the divestment of the Power division, for which the signing date was 26 June and the closing date 1 August 2022, in compliance with IFRS standards and in order to provide a clearer interpretation of changes to the activities retained, the analyses were produced by c
Slide 12: Customers: International, diverse base
CUSTOMERS International, diverse base H1 2022 TURNOVER PER GEOGRAPHIC REGION (as a % of turnover, per customer origin) 48,5% H1 2021 H1 2022 41,7% €216.3 €248.5 France million 35,1% million 29,9% Europe (excl. France) Asia Americas 12,4% 11,0% 6,9% 6,1% 4,7% 3,7% Africa & Oceania France Europe Asie
Slide 13: 2022 Results
2022 RESULTS In € millions OPERATING INCOME FROM CONTINUING NET INCOME FROM CONTINUING OPERATIONS OPERATIONS 2,7 3,5 H1 2022 1,4 €3.5 AUTOMOTIVE H1 2022 1,1 €3.6 (0,7) million million (1,0) TELECOMMUNICATIONS OTHER 2,0 3,7 H1 2021 TOTAL H1 2021 0,2 €3.1 (0,02) €4.2 0,8 million million 0,5 AUTOMOTIVE
Slide 14: Headcount
HEADCOUNT Competitive HR management BREAKDOWN PER GEOGRAPHIC REGION 30 June 2021 31 December 2021 30 June 2022 152 146 262 218 140 244 1 173 1 163 1 060 3,457 3,511 1 332 1 430 3,550 538 554 1 552 554 France Europe (excl. France) Asia Americas Africa & Oceania ▪ Recruitment difficulties in all count
Slide 15: Main Expenses: Control of expenses
MAIN EXPENSES Control of expenses EXPENSES (in € millions) 3.5 % ▪ Personnel expenses (+3.5 %): €2.2 million - Headcount: 3,550 at end June 2022 vs. 3,457 at end June 2021 (+2.7 %) - 2022 salary increases applied as of 1 July in most structures 63,3 65,5 +31.7 % €7.2 million ▪ External expenses (+31
Slide 16: Main Expenses: Recovery is top priority
MAIN EXPENSES Recovery is top priority BREAKDOWN OF R&D (in € millions) ▪ Priority to customers’ development programmes and forward-looking programmes: (2.3 %) 41.8 - Re-invoiced R&D accounts for 40.3 % of expenses incurred vs. 35.4 % in 40.8 (€0.9) million 2021 14,8 - Provisions for depreciation: (
Slide 17: Key Figures: EBITDA
KEY FIGURES EBITDA from continuing operations in € millions 20.0 8.1 % of 17.8 turnover 8.2 % of turnover 17,5 15,3 Automotive Telecom Autres (holding + SCI) 1,5 2,9 0,9 (0,4) S1 2021 S1 2022 (1) EBITDA: Net income + taxes + impairment of goodwill + interest and financial costs + depreciation allowa
Slide 18: Key Figures: Net liabilities
KEY FIGURES H1 2022: Net liabilities 222.0 237.5 ▪ Net debt stood at €237.5 million: divestment of Vehicle Inspection in April 2022 and Power in August 2022 were used to repay €60 million of the Group’s debt ▪ Fund raising: Bank loans and bonds ▪ €18 million, 8-year bond (“Recovery Bonds” set up und
Slide 19: Summary Income Statement
SUMMARY INCOME STATEMENT 30/06/2021 Variation In € millions: 30/06/2022 31/12/2021 published adjusted € million % Turnover 248.5 216.3 32.2 14.9 462.8 EBITDA from continuing operations (1) 20.0 17.8 2.2 12.4 22.1 As a % of turnover 8.1% 8.2% - - 4.8% Operating income 3.5 3.1 0.4 12.2 (9.9) As a % of
Slide 20: Summary Balance Sheet
SUMMARY BALANCE SHEET ASSETS in €M 30/06/2022 30/06/2021 31/12/2021 LIABILITIES in €M 30/06/2022 30/06/2021 31/12/2021 Non-current assets 173.8 187.2 179.9 Equity 108.7 115.2 113.6 Goodwill 24.1 24.1 24.1 Intangible assets 49.5 59.4 57.5 Tangible assets 69.3 74.6 70.0 Non-current liabilities 176.8 1
Slide 21: Summary of Cash Flow
SUMMARY OF CASH FLOW Including discontinued operations In € millions 30/06/2022 30/06/2021 31/12/2021 Operating activities Net income for the period (7.5) (1.4) (6.1) Of which depreciation and provisions 17.0 14.8 33.8 Variation in WCR (4.9) 7.8 (4.4) Net cash flow from operating activities 4.2 17.3
Slide 22: Stock Market Information
STOCK MARKET INFORMATION STOCK MARKET INFORMATION ON 20 SEPTEMBER 2022 ▪ Capital: 20,099,941 shares ▪ Share price: €4.32 ▪ Market capitalisation: €86.84 million ▪ Euronext Paris, Compartment C ▪ ISIN code: FR0000076655 – ATI ▪ Eligible for the shared savings plan (PEA) to fund SMEs ▪ Indexes: CAC Al
Slide 23: An Independent Group
AN INDEPENDENT GROUP Capital on 30 June 2022 5.8 % 5.1 % 7,25% 7.25% 6.4% 6,4 % % control % ownership 24.1% 24,1 %** 38.8 %* Shareholders agreement + 62.1% 62,1 % 50.2 % * Declared block: • GESTINEG H (5.20% stake; 3.23% control) Familles PECH & CALMELS (fondateurs) Public SGPFEC SIDMIA Internationa
Slide 24: Future Prospects
ial : a tA: FUTURE PROSPECTS
Slide 25: Future Prospects: Protect our growth and innovation potential
FUTURE PROSPECTS Roadmap Protect our growth and innovation potential Capitalise on the performance of the manufacturing base Keep expenses strictly under control and our ability to innovate for the benefit of cutting-edge Make informed choices about R&D priorities technological markets, driven by di
Slide 26: Future Prospects: Goals for 2022
FUTURE PROSPECTS Goals for 2022 ▪ Aim for at least 10 % growth for 2022 ▪ Maintain profit margins ▪ Continue to control supplies through the “Command Center” and ▪ Transfer the knowledge acquired and methods implemented to the various internal stakeholders ▪ Keep up the momentum in terms of commerci
Slide 27: Growth: Robust order book
GROWTH Robust order book Potential for acceleration largely offsets the end of the long-standing light vehicles telematics contract ACTIA aims to achieve turnover of more than €800 million within 4 - 5 years despite reducing the scope 520,4 476,5 462,8 432 433 438,6 381 340 304 2013 2014 2015 2016 2
Slide 28: Thank you for your time
THANK YOU FOR YOUR TIME CONTACTS ACTIA GROUP CALYPTUS Catherine Mallet Marie Calleux +33 (0)5 61 17 61 08 +33 (0)1 53 65 68 68 [email protected] [email protected] Next periodic publication Turnover for Q3 2022: Tuesday 15 November 2022 (7 am) For all information: ACTIA GROUP 5 rue Jorg
Slide 29: Appendices
ial : a tA: APPENDICES
Slide 30: An International Organisation
AN INTERNATIONAL ORGANISATION Power division divested on 01/08/2022 except for the ACTIA UK entity Organisation on 30/06/2022 Investor Presentations - September 2022 30
Slide 31: Governance: Board of Directors
GOVERNANCE Membership of the Board of Directors Jean Louis Pech Marine Candelon Jean-François Calmels Catherine Mallet Chairman and CEO Deputy CEO Deputy CEO Deputy CEO Stanislas Bailly Catherine Casamatta* Carole Garcia* Laura Pech Frédéric Thrum Véronique Védrine Director Director Director Directo
Slide 32: Consolidated Accounts: Assets
CONSOLIDATED ACCOUNTS Assets Consolidated assets in €K 30/06/2022 30/06/2021 31/12/2021 Goodwill 24,148 24,148 24,148 Development costs 47,688 57,077 54,971 Other intangible assets 1,844 2,352 2,511 Total intangible assets 73,680 83,577 81,630 Land 2,848 3,625 2,889 Buildings 35,800 38,068 35,556 Te
Slide 33: Consolidated Accounts: Liabilities
CONSOLIDATED ACCOUNTS Liabilities Consolidated Equity Capital and Liabilities in €K 30/06/2022 30/06/2021 31/12/2021 Capital 15,075 15,075 15,075 Premiums 17,561 17,561 17,561 Reserves 85,074 87,881 89,568 Translation reserve (2,209) (3,983) (2,649) Treasury shares (162) (162) (162) Net income (8,07
Slide 34: Income Statement
INCOME STATEMENT Consolidated income in €K 30/06/2022 30/06/2021 31/12/2021 Revenue from ordinary activities (Turnover) 248,483 216,306 462 839 - Materials and supplies (140,331) (114,252) (254 640) - Personnel expenses (65,526) (63,295) (131 604) - External expenses (30,032) (22,801) (61 930) - Tax
Slide 35: Key Figures: EBITDA
KEY FIGURES EBITDA from continuing operations in € millions 13.2 13,2 10,0 10.0 EBITDA from discontinued and continuing operations 17.8 20.2 20,0 EBITDA from continuing operations 17,8 EBITDA from discontinued operations (4.6) <4,6> (10,0) <10,0> H1 2021 H1 2022 (1) EBITDA: Net income + taxes + impa
Slide 36: Cash Flow
CASH FLOW Consolidated cash flow statement in € thousands 30/06/2022 30/06/2021 31/12/2021 Net income from continuing operations (7,519) (1,442) (6,074) Adjustments for: Depreciation, amortisation and provisions 17,000 14,839 33,835 Profit / loss from disposal of assets 288 (25) (107) Interest charg
Slide 37: Focus on Exchange Rate
FOCUS ON EXCHANGE RATE Importance of €/$ rate for purchases PERMANENT MANAGEMENT OF THE GROUP’S NEEDS ▪ Foreign exchange risk hedging strategy (foresee, hedge, do not speculate) ▪ Process based on a set of tools (forward purchase, options, tunnels, accumulators, etc.) 100% 100% 80% 70% Target curren
Slide 38: Our Core Business
OUR CORE BUSINESS Electronics Moving Forward • Design, Produce and Operate. • Electronics for system management. • The highest, uncompromising quality standards. APPROVALCERTIFICATES AIRCRAFTMAINTENANCEORGANISATION PART 145 / FAA / TCCA Investor Presentations - September 2022 38
Slide 39: Value Creation Strategy
VALUE CREATION STRATEGY NETWORKS PRODUCTS SYSTEMS & SERVICES Investor Presentations - September 2022 39
Slide 40: Our Commitments & our challenges
OUR COMMITMENTS & our challenges INDEPENDENCE QUALITY SMART MOBILITY CONNECTED, SUSTAINABLE, SAFE & SECURE RESPONSIVENESS INNOVATION Investor Presentations - September 2022 40
Slide 41: Serving major international customers
SERVING major international customers • ABB • FAURECIA • SOMFY SAS • AIRBUS • GEELY • STELLANTIS • ALLISON TRANSMISSION • HAULOTTE • THALES • ALSTOM • INFRANOR • TOYOTA • BMW • IRIZAR • TRATON • CAF • KING LONG • VAN HOOL • CNH INDUSTRIAL • KUHN • VOLKSWAGEN • CUSTOM BUS • MANITOU • VOLVO AB • DAIML
Slide 42: Examples of Applications: Light vehicles
EXAMPLES OF APPLICATIONS Light vehicles Connectivity Car-sharing Maintenance and repair Energy management Investor Presentations - September 2022 42
Slide 43: Examples of Applications: Coaches, buses and trams
EXAMPLES OF APPLICATIONS Coaches, buses and trams Eco-driving Dashboard and driver interface Passenger information and entertainment Secure connectivity Security and CCTV Maintenance and repair Vehicle architecture Investor Presentations - September 2022 43
Slide 44: Examples of Applications: HGVs and utility vehicles
EXAMPLES OF APPLICATIONS HGVs and utility vehicles Use of activity data Electrical management and vehicle architecture Secure Maintenance and repair connectivity Energy management Power management and conversion Investor Presentations - September 2022 44
Slide 45: Examples of Applications: Off-road vehicles
EXAMPLES OF APPLICATIONS Off-road vehicles Man/machine interface Maintenance and repair Vehicle architecture Secure connectivity Energy management Investor Presentations - September 2022 45
Slide 46: Examples of Applications: Trains
EXAMPLES OF APPLICATIONS Trains Traveller information and entertainment Maintenance Connectivity Security and CCTV Power conversion Investor Presentations - September 2022 46
Slide 47: Areas of Expertise: Automotive OEM
AREAS OF EXPERTISE Automotive OEM • ACTIA, a global player in electronic on-board systems for transport means: light vehicles, industrial vehicles and special vehicles (construction and agriculture) • ACTIA designs, develops, industrialises and manufactures specific products for its customers in the
Slide 48: Areas of Expertise: Automotive Aftermarket
AREAS OF EXPERTISE Automotive AFTERMARKET • Multi-make Diagnostics ▪ Comprehensive range of equipment and services ▪ The Multi-Diag® multi-make diagnostic tool has become a benchmark for vehicle maintenance and repairs ▪ A systems-based approach • Systems and services for fleets ▪ Development of a p
Slide 49: Areas of Expertise: Automotive production
AREAS OF EXPERTISE Automotive ▪ Standardised production means between sites. ▪ Industry 4.0 technology. ▪ Multi-sector production capacities: complex runs, small, medium and mass production runs. ▪ Comprehensive range of industrial services. FRANCE (Toulouse) Tunisia (Tunis) USA (Detroit) SWEDEN (Li
Slide 50: Areas of Expertise: Telecommunications
AREAS OF EXPERTISE Telecommunications • SatCom ▪ Mobile Earth stations for the civil and military sectors • Energy ▪ Equipment for information management in the field of energy-related infrastructure • Rail ▪ Equipment for broadcasting of digital TV and radio and information in public transport vehi
Slide 51: An Entrepreneurial Mindset
AN ENTREPRENEURIAL MINDSET TO MOVE FORWARD TOGETHER www.actia.com 51